Many jurisdictions worldwide have defined quality control/assurance standards for the food and beverage industry. The challenge everywhere has been educating and convincing entrepreneurs to observe these standards.

The first step to starting a business is to check its feasibility. Explore feasibility from the following angles:

  1. Technical
  2. Financial
  3. Market fitness
  4. Operational

I like to begin with market fitness. It entails profiling customers, sizing the market, looking at competitors, available distributional channels, and pricing.

Pricing takes me to financial analysis, where I look at business models, costs and revenues.

It is important to look at staffing, tools, and business processes in operations.

Technical feasibility in your type of business is pretty straightforward. Standards are available, and prima facie, there is a market need.

If the feasibility is a go, you can begin preparing a business plan to kick-start your business.

All the best!



Business modeling


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