How to Start a Business - The First Steps in Starting a Business

The internet has made starting a business from the comfort of your own home more possible now than ever before. Although there is nothing easy about being an entrepreneur, it is common knowledge that the outcome of starting a venture is very rewarding. The most difficult part is actually getting started. Some people have business ideas that never leave their notebook. Others just want to own a business but don't know where to start. Here are some steps to take in your early planning stages.

1. What are you good at? Not referring to what you would like to do but what are you good at now? Do people like your pumpkin pie? Are you a really great accountant? Do you have team building skills that are out of this world? Sometimes we take our own talents for granted because we use them everyday. However, talents can turn into marketable skills that people will pay for.

2. How do you intend to fund your business? Nothing in the world is free. It takes money to make money. Starting a business will need investing. Don't let having a small amount of capital or not having any capital at all stop you from moving forward. You will invest lots of time when there is not that much money. Having large amount of money to invest still requires time in due diligence to make sure you are hiring the right team to get the job done.

3. Dead set on becoming an entrepreneur but don't think you're good enough at anything? Everyone has a skill set, you just haven't identified yours yet. Think about things that you like and consider start a home based business that offers these things. Home based businesses, also known as direct sales or network marketing, link personal development and growth directly with success. With a small investment, usually less than $500, you can have a ready-made business and become profitable in days. The hugely successful in direct sales usually venture off and start businesses of their own after discovering their hidden talents, learned how to run a business, and now have earned enough money to invest in themselves. Direct sales is a great place to start.

Becoming an entrepreneur is not a journey for the faint at heart. It all starts with an idea, just like anything else. Figure out what your skill set is and focus on turning something that you're good at into a business. Decide how you can invest into your business. Be it time or money, you will have to invest something. If you do not think you have any business ideas, start with a network marketing company to jump-start your business juices.

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Do I Have What It Takes to Be an Entrepreneur?

Looking into a viable business opportunity, many young potential entrepreneurs have the same

question in mind. And, you're probably thinking, do I have what it takes to be a successful entrepreneur? Is this a good time to quit my job and invest all my time into this exciting proposition that I have chanced upon. Before you get into the in-depth details about how good the business is, maybe you need to do some soul-searching and explore your personality. Read ahead to find out about the important traits of successful startup owners.

To begin with, entrepreneurs are passionate about what they do. They'll are truly committed to making their enterprise work and when you meet them, they come across as dynamic, energetic people. Above all, you yourself need to completely believe in the product or services you intend to produce and sell. In addition, you're going to face situations and people who most likely will shoot down every idea you have. It's going to be a tough road. And, you're going to have to struggle all the way and for every aspect of your startup. Whether it is garnering the finances you'll need, looking for suppliers for raw materials, or convincing marketers and buyers, to name a scarce few.

But, the bottom line is that true entrepreneurs are persistent and determined. They don't let the answer, "No!" get them down. There will be days when people actually laugh at you for the concept you have. And, there will be friends and family members telling you not to quit the security of your job to plunge into a venture that may or may not eventually succeed.

Then there is the competition you're going to have to deal with. As you begin exploring your business idea, chances are there are other people out there that are trying to make the same idea work. You have to be able to add that special USP that will make your products stand out from the rest. When your customer asks you, "Why would I want to buy your product as against the many others out there in the market?" You need to be prepared with the right answers.

Which is why; one of the key skills that a successful entrepreneur needs to nail down is - great communication. You'll need strong people skills to sell everything you have in mind - your business concept to your stakeholders, getting support from family, and then convincing customers.

Success does come at a price. And, that price most certainly is hard work. You have to have the drive and determination. And, you need to be prepared to put in long hours at work. This is especially true in the initial stages of your business when you're still finding your feet. Are you prepared to put in 48 hours worth of work each day? If you do then you're on the right track. But, there's one other factor you need to remember. Success can be elusive. And, you're going to face setbacks all the time. Do you have the resilience to stand firm in adverse,e situations and forge ahead no matter what?

If you feel that the person this article is talking about is you, then YES!, You do have what it takes to be an entrepreneur. So, what's stopping you?

https://ezinearticles.com/?cat=Business:Entrepreneurialism&page=3

Dream Big, Start Small

When starting a business, every entrepreneur dreams of the time the business will grow to be successful and bring in all the big bucks. However, it is not as easy as it sounds. The reality of starting a business is that there will be times of despair, when business is slow and you feel all hope is lost. There will be times when you will have doubts about why you got into business. Entrepreneurship is glamorised and the psychological price of entrepreneurship is rarely ever discussed.

You have to view entrepreneurship or building a business like a child learning to walk. The child will initially fall and stumble, likely graze his knees before he gets the hang of it. Gradually, he can walk and even run.

Business is the same way; in the early days your services may not gain traction in the marketplace and sell quickly, or you may make mistakes along the way that will threaten the existence of your business, or you may have days when you would have to chase after customers before things begin to pick up and move smoothly.

So what is the best way to go through this trying period?

Start small

Start as small as possible. In other words, establish what your minimum viable product (MVP) is. This refers to the most basic version of your product or service that you can offer. It gives you the opportunity to understand what your market wants and improve from there.

Move fast and break things

This simply means, "don't be afraid to try new ideas and be disruptive". Try new ideas and fail fast. If you fail, learn the right lessons and move on fast. In fact, it is one of the advantages to being small - you can implement new ideas quickly.

Secure cash flow quickly

Contrary to belief, profits aren't the key to sustaining a business. It is cash flow. How consistent is your revenue? If you are able to achieve consistent cash flow, profits are not far off.

Treat your customers like king

This is more than just a cliché. It is very important that you offer the best customer service possible. Doing this will make them more than just customers; it will make them your ambassadors.

Fine-tune your company culture and leadership skills

Your company culture means how you do things as a company, your processes, and your interactions among you, your staff and suppliers, among others. If you are unable to get it right when the company is small, it will even be harder as the business grows.

Learn as much as possible about every aspect of the business at this stage

The times will come when the business will be too big for you to micromanage like this, and if there are aspects of it you do not understand, you will have a management crisis waiting to happen.

Implementing the above will able to you to build a structure to enable you to dream big, but start small to help the company grow well.

http://ezinearticles.com/?Dream-Big,-Start-Small&id=9328583

How to Start a Catering Business from Home With No Money

Are you interested in starting a catering service business from home? Do you need a sample catering business plan template? Do you want to learn what it takes to open a catering service business with little or no money? 

Are you passionate about cooking and you want to learn how to make money with your cooking or baking skills? Do you love making recipes? Then below is an in-depth guide on how to start a catering business from home.

Catering is all about providing cooking or food services at strategic places such as hotels, public houses, events, weddings and parties, or other locations; based on contract. It may also involve providing food and beverage for events. But it is important you bear in mind that catering is quite different from event planning and management.

Event planning is a very broad niche while catering is just an aspect of event planning. In fact, catering is one of the businesses I highly recommend for people who have the passion for cooking and preparing delicacies. The demand for caterers is very high especially for caterers who know their onions and provide excellent customer service delivery.

Whether you intend starting a small daily catering business or you aim to offer huge extravaganzas for a large number of people once a year, then you probably want to consider pursuing your dreams in the food industry because the potential profit margin in the catering business is extremely high. Some caterers often manage to walk away with 66% of pre-tax profits. This figure may seem hard to believe but when you consider the various ways caterers can keep their overhead low to practically nothing, this figure becomes more credible.

Now if actually you have made up your mind to go into the business of providing catering services to clients, then below is everything you need to know about starting a catering business from home.

8 Reasons Why You Should Start Your Own Catering Business from Home With No Money

• Catering is a service business that provides you a chance to showcase your talent and creativity in the aspect of cooking and service delivery

• It is not capital intensive. In fact, you can start a catering business from home with no money. Yes, you don’t even need an office; you can even start this business from home using your client’s advance payment and rent all the equipment you need

• You can run your catering business part time, while still keeping your job or business

• There is no entry barrier to opening a catering business. In fact, even a student can do this business without any hitch

• As a caterer, there are a lot of niches to target and you can never be short of clients. You can choose to provide services to specific organizations such as restaurants, fast foods, etc or you can work independently and offer your services at events, weddings, parties, business meetings, private clubs, etc

• As a caterer, you are either self employed or a business owner and you decide your income

• As a catering business owner, you will add to the development of your community and country at large, with respect to job creation. Event catering is definitely not something you can carry out alone; you will need to employ helping hands.

• Catering is one of those businesses that don’t need much marketing or advertising. In fact, you rarely see caterers advertise their services. This is because they always have a steady flow of clients through referrals and word of mouth marketing done by satisfied customers.

How to Start a Catering Business from Home With No Money – Sample Business Plan Template

This article is not targeted at any region or country. The catering business is a profitable business that can be taken advantage of; regardless of your country or locality.

 With the information I will be providing below, you can start your own catering business in USA, Canada, UK, Australia, India, Nigeria and even Ghana. The business metrics of the catering business is universal; the only difference in this business is the currency of the location you are operating in, the economy of the region, the perception and culture of the particular region you are targeting.

Make the decision to start your own catering service business from home

To get started in the catering business, you need to first decide if this business is for you. As expected of all business, offering catering services is a business that requires passion; you need to love the job in other to reap the profits. I advice you read the article “10 Characteristics of Successful Caterers” to know what it takes to succeed in the catering industry.

Another factor you must think through carefully is the model of startup. Will you buy a catering franchise or start your own catering business from scratch? Only you can decide this.

1.  Acquire the necessary skills and certification

Before starting a catering business, it is important you know not just the intricacies of running a catering business but also the technical details of catering. Mind you that running a profitable catering business entails being an exceptional cook / chef, with a strict hygienic standard and exceptional delivery / customer service

Okay, so you want to become a professional caterer? A good way to start building up your knowledge is to attend to a catering school. Another advantage of attending a catering school is that you will be issued a certificate, which will add a feather to your cap; thus separating you from those caterers without certification.

After getting the necessary qualifications and certification, you need to develop your entrepreneurial skills if you really want to succeed as a caterer. Some business skills you cannot do without in this industry include:

• Sales skill

• Persuasion and negotiation skill

• Accounting skill

• Marketing skill

• People management skill

• Self confidence

• Good sense of humor and neatness, etc.

2.  Decide on what type of catering services you will offer

This is a very important step in the process of becoming a professional caterer. Will you be an indoor or outdoor caterer? Will you offer your services to specific companies, hotels, restaurants, fast foods, etc? Or you would rather be your own boss? Will you strictly focus on providing catering services or you will provide full scale event planning services? You must think this through thoroughly  because whatever decision you arrive at will break or make your business.

 Types of Catering Business Opportunities

• Special events

• Social catering

• Corporate catering

• Community affairs

• Kosher catering

• Wine and bar services

• Full event management services

 If you are interested in catering for weddings, you may decide to contact florists, department store heads, musicians, and people in charge of places that book weddings; and form strategic alliance with them. If corporate entertainment is something that catches your fancy, then you may decide to contact the corporations in your area (the chambers of commerce should be able to supply you with area names).

• A Detailed Cost Analysis for Starting a Catering Business

3. Choose a business name for your catering business

4.  Decide the type of food you will cook

This is another important factor you must decide on before even writing a business plan. Also, the decision you arrive at here will determine the type or course you will take at the catering school and the type of clients you will serve. Will you specialize on African dishes, local dishes, intercontinental dishes or continental dishes. That’s left for you to decide.

5.  Create a Menu

A food menu is a very important component of your catering career. In fact, it is one of the first things a client would like to see before engaging you in a negotiation. So try having many items to suit different tastes and demand, even if you specialize in one type of meal.

Also, you should consider offering vegetarian and vegan meals for clients who don’t eat meat or other animal products. Keep your menu to a manageable size, with foods you are comfortable cooking and can be prepared with ingredients you know you can source locally.

6.  Test your dishes

Once you are done creating your menu, organize small scale parties with family and friends and have them to taste your dishes. Ask them for honest feedback concerning their experience on both the food and service. Keep on  adjusting  your dishes until you are told that they are delicious and crowd friendly. Once you get a positive feedback, then you can proceed to prepare a business plan.

7.  Write a catering business plan

To successfully launch a catering company, you need a business plan that will serve as a blueprint for the business and its team. If you start a catering business without a business plan, then you might end up just like every other self employed caterer.

Having a business plan clearly distinguishes you from the average Mom & Pop caterers, as it is helps you forge a mission, vision, goals and objectives; and also help keep you on track. Even if you are starting a catering business from home, write a business plan because it can become an important tool tomorrow as you try to expand and source for funding.

8.  Look for a good location to rent

If it is going to be your full time business, you will need a more permanent storage and cooking equipments. Look for an adequate place so that you will be able to set up your cooking and catering equipments.

Check your local zoning office to make sure you can install proper equipment like ventilation hoods and grease traps. However, if you are starting on a small scale from home, then you don’t need to rent a space as you will be operating from home.

9.  Get your catering business permits and operating license

There are a lot of legal requirement needed to run a catering business. As a new catering service business owner, certification is not enough to run a catering business; you will need to find out what license is required and acquire it immediately. Before you apply for a catering business license, you must meet the criteria that will qualify your permit.

You must be the owner of the food business and the business must already be registered as a legal entity. The license for this business is overseen by the Food and Health Authority. It is required you pay a certain amount of fee before your license will be processed. The Food and Health Authority will access your catering facilities all the equipment must be in good shape, else they will not approve your license.

10.  Set up your kitchen

The equipment you will use in your catering business is different from the one you will use at your home kitchen. This is because catering entails cooking on a large scale so it requires industrial equipments that is quite expensive. If you plan to bake also, you will need baking equipment.

11.  Purchase the necessary catering equipment

The equipment you will use depend on the type of service you will offer and the size of your catering outfit but at minimum, you will need serving platters and serving utensils.

You must also make sure you have the proper equipment to keep the food hot or cold. Buy linens, napkins, table decorations and centerpieces. Some catering businesses also offer tent canopies for outdoor events. You may also need to buy a van and other equipment for transporting food. You should also make sure the van has enough space for storage of foods, linens, tableware and other things.

However, if you are starting from home, you can rent or lease the catering equipment you need; though this may decrease your profit margin but it is a good way to go especially when you are trying to keep cost down.

List of Equipment / Tools You Need to Start a Catering Business

• Knives

• Utensils

• Blender

• Chopping boards

• Food storage containers

• Mixers

• Pans spoons

• Refrigerators

• Freezer

• Coolers

• Cooling van

• Dispensers

• Oven

• Micro waves

• Table top

• rolling carts

• Van

• Uniforms

• Gloves

• Garbage bags for dirty linen

• Extra bus tubs for dirty dishes

• Tin foil

12.  Employ staff

Catering is a venture you can’t handle alone as there is a lot of tedious tasks to be done; ranging from cooking, serving, cleaning, etc. So you will definitely need helping hands.

However, it is important that you train your employees so that they can provide the type of service you want and preserve your brand image. You should also hire an accountant to keep track of your expenses, invoices and income; or better still, you can do your own bookkeeping if you are good at it.

A Detailed Sample Catering Business Plan Template

• Describe Your Company

Describe the functions of your company and indicate if it is a sole proprietorship business or an incorporated business. You need to state too in your business plan what catering services you are offering to people. Try as much as possible and be specific. You may clearly state that you are preparing and delivering foods for wedding celebrations or in all kinds of events.

• Research Information about Your Business

Try to find information about your competitors. You need to know how many businesses are offering catering services in your area or how many are catering exclusively for weddings. You must assess the needs of your business environment and how you can help people address those needs.

It is important that you know what people want or what is in demand in the industry you are in. You should also analyze your personal and business strengths, weaknesses, oppositions and threats; then list all of it in your business plan.

• State How You Want to Use Your Funds or Earnings

Carefully think just how much capital you need, how you intend to raise funds and how you will use your funds or earnings. Will you buy new equipments that you think are necessary for your business? How much you are willing to invest to improve your catering services?

It is important to organize the usage of funds. List down all the things you may need to render a good service. By stating how you want to use the funds you have, you can have your business plan implemented smoothly.

• List Down All the People Involved in Your Business

List down all your catering business staffs with their full names as well as experience assessed in years. Ensure that your staffs have sufficient catering experience.

• State How You Are Planning to Cope with Possible Challenges and Issues

Summarize in your catering business plan by explaining how you intend to cope with the challenges and problems that could possibly arise during your operation. Make sure to list some examples or scenarios and what you can do about it. These issues will include customer complaints, marketing, advertising and promotion, etc.

Start-up Investment for a Catering Business

• Low -   $1,000 (working from your own kitchen using client’s down payment as startup)

• High -  $75,000 (outfitting a professional kitchen)

A projection of Annual Revenue and Profit for a Catering Business

• Revenue:    $200,000 – $2 million

• Profit (Pre-tax) –     $50,000 – $1 million

How to Market a Catering Business from Home

When it comes to running a catering service business from home, the most important marketing tool you will need to cultivate is word of mouth. Most brides, corporations, etc are not going to risk embarrassment by trying an unknown or untested caterer.

If you are fortunate enough to have a solid reputation when entering the catering business, you will have a good head start. If you are starting entirely from scratch, you need to be really creative in order to get your business going. To successfully market your services, you need to write a marketing plan for your catering business. Your marketing plan will help you:

 

• Define your niche

• Know how much to charge clients

• Learn how to write agreements, contracts and proposals

• Learn how to get referrals and repeat business

• Learn how to talk persuasively to clients

• You must have a marketing plan

• You must know how to advertise your services cost effectively

• Maintain a client’s portfolio

• You must know how to track your success and scale-up

A good way to go about marketing your catering business is to invest some capital in throwing a party of your own and invite the decision-makers from various corporations in your area, or the aforementioned florists, department store heads, etc; and give out your business cards to them.

These people are not going to risk their perceived reputation by recommending an unknown entity like you; so give them something to remember and to endorse.

Also, especially in the beginning phase of business, add that little extra touch to the events you cater for. DON’T CUT CORNERS! Remember, your compensation will not always come in the form of naira, dollars and cents. Your reputation is equally as valuable, especially in the long run. Remember; that little “extra touch” is often more effective and sometimes cheaper than paid advertising.

Top 10+ Creative Marketing ideas for your Catering Business

• Start small by offering your services to family and close friends, then ask them to refer you to their friends

• Creating a website detailing your services and promote it

• Partner with event planners, most of them get jobs quite often and only few have knowledge about catering

• Advertise in wedding and event journals

• Designing menus, flyers and brochures and hand it out

• Setup a blog on your website and keep in touch with your clients

• Advertise your services on mass media like TV, Radio, newspapers, etc

• Find your own niche to serve

• Offer discounts and reward loyal customers

• Pimp your catering truck and take it everywhere you go

• Put your staff on uniform and try branding yourself as much as possible

12 Challenges of Starting a Catering Business from Home With No Money

Below is just a brief overview of the challenges of starting a catering business from home, i advice you read the more in-depth challenges of starting a catering business from home and how to overcome them.

 

• Catering is a very stressful business. This is because you have to move from place to place in the cause of cooking and serving.

• It is management intensive

• Getting hardworking and competent employees is quite a challenge; as you wouldn’t want to employ people that will tarnish your reputation. Also, retaining good staff is another challenge you might encounter

• Finding good clients

• Constant change in the market price of food stuffs

• Safety of food.

• Struggling to control the uncontrollable.

• Another challenge you will face is client’s indecisiveness and ever changing demand.

• Event Logistics.

• Client’s complaint.

• Loss and damage of utensils and equipment that may happen as you discharge your services.

• Building your brand reputation and winning client’s confidence enough to earn you a referral.

How to Grow your Catering Business from Home

How do you run a successful catering business from home? How do you grow your catering business? In the catering business, you have an unlimited growth potential. You can buy your own facilities and accoutrements, hire full-time chefs and servers, buy a catering business software, find new catering business supplies, use temperature-controlled holding cabinets and vans or you can rent or lease just about anything you need. But you must start from somewhere first.

You may decide you want to cut off the middle-man’s profits by buying the specific items you find yourself renting regularly such as china, flatware, tents. You also need to boost your brand awareness and reputation by getting a business card designed with your company details and signature.

If eventually you grow big and acquire a vehicle, you can design your logo on the body of your delivery van. This is an effective marketing strategy because people will see get to see your marketing message as the van moves around the city and most importantly, when it is at the site of an occasion you are catering for. Most importantly, you must make sure your mobile van is covered by an insurance policy.

More Tips for Starting a Successful Mobile Catering Business from home

While 70% of the restaurant business is food oriented with the rest going for service, organization, etc; this statistics drops to 30% in the catering business. The bulk of a catering business include delivery, transporting the food, lining up rental equipment, juggling personnel. With respect to the catering business, organization is what counts.

You also need to be a salesperson with a charming personality to push your catering business through. Since you may be dealing with corporate executives, party planners and nervous brides; you will need to convince your prospective clients that you are not only capable of providing a memorable feast but you will also deliver on time, and discharge your services attractively, quickly and unobtrusively.

There are a number of profitable engagements that naturally spring from the catering business. You can act as a coordinator for flowers, party locations or themes. You can also be caterer and party planner, caterer and florists, caterer and rental agent. Don’t just limit your options. Be creative!

Remember, if individuals wanted to stick to a set menu; they could choose to go to a restaurant, so be flexible. Make your menu suggestions, just suggestions (a starting point, if you will). Let the client be your guide but don’t overlook opportunities to turn a modest “do” into a major profit-making event. Don’t be reluctant when you see an opportunity to “bump-up the bottom line of an event. You may be able to turn a barbecue into a Hawaiian luau complete with roast pig.

In conclusion, strive to ensure that every event is party to remember. Go that extra inch, sometimes it can be a mile and result in mile-high profits. Remember that in the catering industry, there are no restrictions except those you place there yourself.

http://www.mytopbusinessideas.com/starting-a-catering-business-plan/

So you want to start a food business?

Do you dream of starting your own food and drink business? All you need is a good idea

 

                       

Hands up if you’ve ever thought, “I’d love to set up an artisanal pickle-making operation, with an organic smoothie bar on one side; and on the other, a row of rehabilitated ex-prisoners making sustainable baby food from local ingredients…” and then gently drifted off into a daydream?

As someone who’s obsessed with food as well as all things entrepreneurial, I’m always cooking up original (ahem, sometimes too original) food and drink-related business ideas, as I’m sure many of you have – especially after watching an episode of The Apprentice or the Dragons’ Den.

Give up the rat race

I hear about more and more people leaving high-flying careers in finance, law and other prestigious and well-paid sectors to set up in the food and drink industry. Freedom from the boss or office politics, working the hours that suit, having an opportunity to express one’s creative abilities and genuinely wanting to provide a service where there’s a gap in the market are all deciding factors.

Of the very many food and drink businesses that I’ve heard about in recent months, it’s the unique and innovative housebites,designmynight  and My Secret Kitchen that immediately caught my attention, and got me excited and curious.

Housebites   

The aim of this new web business is to revolutionise the takeaway market. You order just like a normal home delivery, and chefs in your local area cook the food and deliver it to your door. Exciting yet simple – why has nobody thought of it before?

The chefs are carefully vetted, and are either experienced, enthusiastic home cooks or people who’ve worked in top restaurant kitchens. For instance, in my area, on the day that I checked, I could order beetroot carpaccio with goat’s cheese and pomegranate dressing, or Persian saffron ice cream. Not your standard takeaway then.

Housebites’ CEO Simon Prockter and his co-founders were behind successful websites like Bebo and SpeedDater. What inspired them to come up with this ambitious idea? “A very bad experience from a market leading company,” says Prockter. “My order was delivered by a motorcycle courier with the helmet still on, who clearly had no part in the process and was walking away before I’d barely opened the door. The food itself was ok, although was clearly re-heated.”

“It set me thinking about many of the problems with takeaway”, continues Prockter. “You don’t really know who’s cooking your food or how good they are… You rarely… have a say in how the menu could be improved. And service is questionable if something goes wrong. After a long weekend of looking into the solutions to these problems, housebites was born.”

Housebites has only just launched in London. More areas are added every week, and the business will go nationwide in early 2012. If you’re a great cook, you can apply to be a chef. 

Designmynight

Set up at the end of 2010, this is London’s first price comparison website for pubs, bars and clubs. Designmynight gives you the insider track on new and established drinking venues – with a particular emphasis on budget-friendly places – including special offers, happy hours and guest lists. A free concierge service can provide personalised help with organising that extra-special night out.

Easy to navigate and kept continuously up to date, it’s no wonder the site has been enthusiastically received by customers. Co-founder Nick Telson explains, “Getting emails from our users has been the best part… It is this positive feedback that makes the job worthwhile.”

As for the future, he says, “There are a lot of plans afoot… Once we have perfected the model, we aim to take the site nationally and internationally… We are also launching designmynight deals in November… No… fish pedicures, waxing and teeth whitening; only deals on restaurants, bars, clubs… etc.”

My Secret Kitchen

Established in 2007, this award-winning business is “the UK’s first nationwide food tasting company”. It sells its own range of condiments, dips, sauces and baking ingredients through tasting events (and also its website). The wide selection includes imaginative products like beer bread mixes, artichoke pesto, oak-smoked rapeseed oil and Great Taste Award-winning balsamic reduction.

You can host tastings in your own home by inviting your friends along, providing a few drinks and getting a party atmosphere going, while their trained consultants prepare all the food and share several recipe ideas for each of the products. If you enjoy being a host, you could even go a step further and become a consultant. It’s the culinary equivalent of a tupperware party, a ‘try before you buy’ idea with a twist.

Co-founder Phil Moran says: “People in the UK are linking good food with good health, and {an interest in} food provenance is creating more and more home fruit and vegetable growers, and the downturn in the economic climate has meant ‘dining in’ is the new ‘dining out’. With all this in mind, it is a great time to be involved in the food and drink industry, particularly with artisan, unique products.”

A good idea

Inspiring words indeed. Speaking to friends, there seems to be no shortage of business ideas – from a telephone helpline that guides you through every stage of the cooking process, to a bespoke spice-blending service, someone, somewhere is thinking about it.

So, what is YOUR fantasy food and drink business idea? What delicious venture would you like to see become reality? And most importantly, are you brave enough to take the plunge? 

 

http://www.lovefood.com/journal/features/13215/so-you-want-to-start-a-food-business

How to run a business from home

Whether you're planning an empire or just doing a bit of work from home, here are some things you need to know

 

Working from home is on the rise. Photograph: Alamy

 

The number of people working from home is on the rise: some may have set up entirely on their own, but others are looking for a way to earn extra money alongside their day job.

More than 3 million Britons have held a second job in the past six months and a further 1.5 million have launched their own business to supplement the income from their main job, according to research from Direct Line Home Business Insurance.

In the past 12 months alone, there has been a 34% increase in people setting up a business at home according to Freelancer.co.uk, a website for freelancers looking for more work or wanting specialist help. More than half of them have turned their bedrooms into their workplace, it says, with the kitchen the next most popular place to work and 9% even converting the garden shed into an office.

But whether it's your main business run from a dedicated office, or a side job you do at a desk under the stairs, there are some things you need to know to make it work.

1. Tell the tax man

You need to let HM Revenue & Customs know that you've started a business within three months of starting so you are set up to pay the appropriate National Insurance contributions and ready for self-assessment. If you're working alone you'll need to register with HMRC as a sole trader. Details of what you need to do when you start working for yourself are on the HMRC website.

2. Get an accountant

It may sound like an unnecessary expense, but an accountant will be well-versed in knowing what costs you can expect to offset as business expenditure and may save you their fees several times over. If your business is being run from home you may be able to claim for some of the costs of running your property, for example part of your heating bills. You can find a local accountant via the ICAEW website, or ask friends for recommendations.

3. Invest in a filing cabinet

"The revenue can come in and check you are keeping a sufficient level of records, particularly for new businesses," says Tim Walford-Fitzgerald, senior tax manager at the chartered accountants HW Fisher. "This will protect you if there's a revenue inquiry. There's a penalty of up to £3,000 if you don't keep proper records." Even if you're just selling stuff on eBay or running fitness classes at home you need to keep a record of the payments you receive. You don't need to set up a separate bank account as HMRC will check your personal bank account if necessary.

4. Claim expenses

To keep the tax bill as low as possible you need to know what you can claim as legitimate business expenses. Some costs will be directly related to your business, such as a separate phone line or broadband. Others will have a dual purpose and split between personal and business use, such as:
• Mortgage interest (but not the capital repayment) or rent if you're a tenant
• Running costs such as heat, light and water and TV licence if it's an essential tool
• Repairs to your home or adding a desk and bookcase to an existing room
• Council tax
• Car or van – for a list of allowances for petrol and running costs go to the HMRC website

"Don't be greedy by claiming 100% for business use or you will be liable for capital gains tax on that portion when you sell your home. Make sure you apportion the costs fairly and reasonably," says Walford-Fitzgerald.

"One method is to work out how many rooms you have in your home, and identify how many of those rooms you use for business and calculate how much time you actually use these rooms for business," says Emily Coltman, chief accountant at FreeAgent, which provides an online accounting system for freelancers and small businesses.
"For example, if you're a freelance decorator you might spend an hour or two a week writing up your books at home, if you're a self-employed PR consultant or web designer, you may well do the vast majority of your work at home."

Alternatively, you can claim a flat rate for your expenses based on the number of hours worked – currently the rate is £10 a month if you use it for 25 to 50 hours a month rising to £26 for 101 or more hours.

5. Insurance

You don't need to tell your home insurer if you're simply doing office work such as using a computer or telephone and doing paperwork. Do check that your office equipment is covered. LV, for instance, covers you for up to £5,000 of computer and other equipment as standard. If you have stock, business cash and tools stored at home you will need a commercial insurance policy. And if you have clients or employees visiting you at home you need to add public liability cover to your policy in case any of them have an accident at your home. This also applies if you're working in other people's homes as a plasterer for instance. It costs about £5 a month, according to Direct Line.

6. Make time for yourself …

"Just because you're working from home, doesn't mean you have to be on call 24 hours a day. Designate working hours and break for lunch," says Bill Little of Freelancer.co.uk.

7. ... and other people

If you find it lonely working from home, make phone calls rather than only communicating by email and push yourself to go to industry events and network.

Tell family and friends. They can provide moral support and may have helpful tips or contacts. If you're selling goods, they may buy from you. And tell them the hours you keep so that they don't drop in and disrupt your working day.


http://www.theguardian.com/money/2013/oct/10/jobs-home-working-tips

Home based businesses Statistics

National data from the Home Business Survey¹ shows that in the UK, there are 2.8 million businesses operating full time from home, contributing £284 billion to the annual UK economy.  This is an increase of 300,000 businesses over the past 12 months.  In the 2009 Survey, 32% of respondents in the Home Business Survey started their business in the past 12 months, on account of redundancy, or people opting for a new career path that involves regaining control over their working life; 49% of respondents confirmed what they are enjoying most about being their own boss is ‘freedom to make my own decisions.’  Home businesses started before the recession have not had to dramatically change their strategy or practices. This ‘business as usual’ policy can be attributed to the fact that home businesses are operating on low overheads, making the most efficient use of technology, and often selling into niche markets.

The most frequently stated reasons for starting from home were lower start-up costs (57%), better work/life balance (52%) and being close to the family (33%).  There has been a 9% increase in those ‘Working 5 to 9’ – the term we apply for people holding down a day job and building a business at nights and weekends. This enables business owners to build confidence and cashflow before moving full time into running their business.

Technology remains a key enabler to starting and growing a business from home, with 81% of survey respondents stating that technology is critical to the success of their business and 74% using social networking sites to keep in touch with other businesses.

Home businesses are growing by outsourcing and subcontracting work, as opposed to taking on staff. 89% of home businesses expected to increase turnover in the next 12 months and plan to do so by using freelancers/outsourcing (45%), and making greater efficiency of existing resources (42%).  Only 4% said they would grow by hiring full time employees.  The sectors showing the most significant growth are business services (business consultancy, legal, accountancy, architecture/design, training, outsourced services) and consumer services (arts/crafts, domestic repairs/services, beauty/wellness, tutoring, caring).

The over 50’s are well represented when it comes to home business; 68% of Home Business Survey respondents are between the ages of 36 and 59, with the majority (36%) falling in the 45-59 age group. This is reflected in the 2009 Business Pulse that showed, of the almost quarter of respondents who were over the age of 55, more than double (30%) were running their business from home, compared with an out of-home location (17%).  Home business is bringing families together and we are seeing the emergence of multi-business homes where more than one business is run under a single roof. 18% of households responding to the Survey are home to at least one business and we expect this figure to continue to rise.

Supporting home business can have positive implications for local economies and the environment. Based on a study by Bradford University it is estimated that having BT employees working flexibly and from home has reduced commuting costs, saved 12m litres of fuel and reduced CO2 emissions by 97,000 tonnes.

When asked ‘what is the one thing you would like to see in your area that would help your business’, 43% responded with ‘events & networks for home business owners’ which is, in turn, driving the growth in home business hub facilities.  There is more that could be done when it comes to tailored business support. When starting out, home business go online to seek advice and support (27%) closely followed by turning to government bodies such as Business Link (25%) but 16% of respondents confirmed they don’t go anywhere for advice.

The majority of home businesses fund their start-up through personal savings (75%) with the next preferred option being friends & family (20%).

The number of people starting and growing a business from home is felt to have had a positive impact on the economy, the environment and society.

Table 1. Number of home based businesses across the UK, 2008

Source: Home Business Report 2009, Enterprise Nation

* These figures are estimates and are calculated from the regional datasets given for Small and Medium Enterprise Statistics for the UK and Regions 2008, published on Wednesday 14 October 2009. Source: Department for Business Innovation & Skills

The Top 100 Home Business Hotspots ranking is based on an analysis of 550,000 SoHos (Small Office Home Office) and shows the areas with the greatest concentration of home based businesses. In terms of the regions with the largest numbers of areas appearing in the Top 100 listing, the South East leads, followed by Yorkshire & The Humber.

When looking at what cities appear in the Top 100 Home Business Hotspots, Hereford is 65th, compared to Worcester 77, Shrewsbury 47, Gloucester 32 and Birmingham 3.

The Top 100 Home Business Hotspots are ranked by postcode and based on home business data from infoUK, September 2009.  This data offers a different snapshot to the national SME Statistics for the UK and Regions 2008 (Department for Business Innovation & Skills) as the Hotspots are based on analysis of 550,000 businesses, as compared with 4.8 million for the BIS data, this lists only the top 100 home business hotspots out of a total listing of 3,235 postcode areas.

Source: Home Business Report 2009, Enterprise Nation

The information available for showing the number of home based businesses within Herefordshire is limited. The only available source being the 2001 Census, which in 2010 is nine years out of date; but in absence of any other data this will give us an idea of what the level of home based working/businesses is in Herefordshire compared to elsewhere. The data used is the number of self-employed people working from home, taken here to be a proxy for home based businesses.

Table 2.  Working from home statistics

Source: 2001 Census, crown copyright

At the time of the 2001 Census, Herefordshire had 48% of self employed who worked from home, this was higher than all neighbouring authorities, the West Midlands region and England as a whole, with the exception of Powys which had 56%.  Powys does have a slightly higher proportion of 16-74 year olds who are self employed, 27% compared to Herefordshire’s 22%.

Comparatively, of those who work from home both Herefordshire and Powys have lower proportions who are employees (34% and 26% respectively) whilst Telford and Wrekin and the West Midlands region as a whole had much higher percentages (56% and 51% respectively).

Source: 2001 Census, Crown copyright

 

http://factsandfigures.herefordshire.gov.uk/1531.aspx

How to Start a Food Product Business

Many people have a special recipe or extraordinary cooking talents and think of developing a line of food products to capitalize on their gifts. However, more than a good-tasting dish is needed to start and grow a food business. In addition to legalities, which vary from state to state and even city to city, you will need to tackle marketing and developing relationships with retailers. If you have the ambition and drive, starting a food product business can be lucrative and rewarding.

Step 1

Focus on a specific type, or niche, of food to produce. This should be something you're familiar with making, and that you can make in a way that's better or different from foods currently on the market. For instance, you can make vegan fudge sauce, soul food seasonings or organic dessert mixes.

Step 2
Contact your state's department of public health and ask what are the requirements for starting a food product business. You may be required to obtain specific permits, such as a food enterprise license, or to rent a commercial kitchen to produce your food.

 

Step 3
Write a business plan detailing how you will start and grow your food product business. Include information about your chosen niche; startup costs; three-year detailed operating expenses; three-year profit projections; analysis of your competitors; marketing and public relations plan; plans for expansion and growth.
 

Step 4
Obtain the business permits needed in your area to run a retail business. This may include a fictitious name certificate (DBA), Employer Identification Number or state tax identification number. Your local small business development center can let you know what is required in your city.

Step 5Become familiar with U.S. Food and Drug Administration guidelines concerning the production and sales of food, including safety and sanitation regulations, how to choose appropriate packaging and how to properly label food products. Visit the USFDA's official website for the information you need at FDA.gov.
 

Step 6
Develop appealing packaging for your products. For example, if you start out by placing your spice mixes in simple jars, you can design attractive, informative labels for them. Packaging that stands out will encourage curious consumers to try your brand, and will give retailers an incentive to carry your products.
 

Step 7
Secure venues to sell your food products. Options include an internet marketplace, such as Foodzie, flea markets, fairs, festivals, wholesale to food retailers and grocery stores, or via your own e-commerce or brick-and-mortar store.
 

Step 8
Join a professional food producer's association, such as the the National Association for the Specialty Food Trade. Doing so will help you meet new suppliers, get business tips and ideas from peers, connect with potential clients and keep up on industry trends.
 

Step 9
Market your food product line. Send news releases to food product reviewers and publications that cover specialty food products, launch a promotional blog or website, and hand out samples at the events you attend.

http://smallbusiness.chron.com/start-food-product-business-4618.html

How to Start a Business Selling a Homemade Product

Starting a business making and selling a homemade product can save you the considerable startup expense of leasing and equipping a facility. In addition, owning and operating a home-based business allows you to move easily between work and personal activities. This is an advantage if you are disciplined and focused, but it can be a problem if you are easily distracted.

 

 

Step 1

Research the guidelines for producing a homemade product in your area. If you are interested in starting a food business, your options will probably be limited by regulations restricting the types of items that you can produce in a home kitchen as opposed to a dedicated commercial kitchen. You will most likely encounter few restrictions if you are producing homemade products such as sewn blouses or paintings, but you may need additional permitting for businesses such as welding or glass blowing, which can be dangerous.
In addition, the scale of your business may determine whether or not you can operate it out of your home. For example, if you make soap in limited quantities to sell at your local farmers' market you probably won't encounter much difficulty making your products in your home, but if you are manufacturing soap to distribute nationally you may run into zoning restrictions limiting street access for pickup and delivery, or manufacturing odors.

 

Step 2

Dedicate an area of your house to your business. You will operate your company more efficiently if you are able to keep your equipment and inventory ready for use than if you have to pack and unpack your business infrastructure every time you want to begin production because your business space is also your dining room table. If necessary, start with a small space and expand over time as your business grows. If possible, make minimal changes to your home to limit startup costs.

 

Step 3

Consult with your accountant about the tax ramifications of operating a business out of your home. For the most part, the IRS allows you to write off a portion of your rent or mortgage if you use your home for your business, offsetting your taxable income from your business. To legitimately take this tax deduction, you must measure the amount of space in your home that you use for your business, calculate the percentage it makes up of your total square footage and then take that same percentage of your rent or mortgage as a tax deduction.

http://smallbusiness.chron.com/start-business-selling-homemade-product-10927.html