Let me share with you a brief guide that you can use:
Begin by doing an industry analysis of soy food manufacturing in your State.
You can do that by asking the following questions:
1. Who are the customers for soy food?
2. Who are the main manufacturers who could be potential competitors?
3. At what price are they selling their products in the market?
4. Do competitors sell the products over an online platform like Amazon, or are do they place them on retailer shelves?
5. What is the net revenue you would get after deducting taxes, logistics costs, commissions to retailers -online or otherwise, cost of servicing the loan?
6. Will the net revenue cover your manufacturing costs and leave you with a decent margin?
7. What are the regulatory controls in your State, and does your State offer incentives to manufacturers?
8. Do you observe seasonal variations of demand for soy food, or is it steady?
9. Do you see any growth in the demand for soy food?
If, at the end of this exercise, you find that your soy food manufacturing will give you profit and help achieve your business objective, go ahead and start the implementation process. Otherwise, junk it, look for a new idea, and repeat the exercise for the new idea? Keep doing this till you find the one idea that works best for you.
All the best.