How to Start a Food Business in Australia
In today’s modern world, we enjoy a greater level of choice in almost all aspects of our life than at any other point in human history. This is particularly true when it comes to our food, with the interconnected nature of our planet and cheap transportation allowing us to enjoy products from all across the world. Today’s consumers have had the luxury of being able to develop tastes and preferences, and have the opportunity to discover more food that they enjoy from across the globe if they so wish. As a result, there’s never been a better time to start a food business.
Better yet, with all the resources at the disposal of the modern business owner, developing, manufacturing and selling your own food products has never been simpler. This article shows how to start a food business in Australia and how you can find the help you need to move forward.
Step 1: Write a Business Plan
The first step on how to start a food business in Australia is to write a business plan, a document outlining the goals of your business and how you’re going to achieve them. This includes:
- The products and services offered by your food business
- Your target market and how you plan to reach them
- The financial aspects of your food business such as costs and predicted revenue
A good business plan will help focus and be better prepared, allowing you to avoid many of the pitfalls encountered by many unsuspecting, new business owners.
Step 2: Product Development
Having written a business plan and decided what you’re going to sell, the next step to start a food business in Australia is to determine how you plan to produce your food product. Your options include:
- At home in your own kitchen
- Renting a commercial kitchen
- Finding a contract manufacturer to make your products for you
As well as deciding how your goods are to be made, you also need to determine where you’ll get the ingredients to make them; in other words, find a number of reliable suppliers. It’s also important to know and follow your local council rules and regulations regarding the sale of food, as well as federal guidelines designed to protect consumers. If you are wondering how to start a food business in Australia, product development is a key step you have to get right
Step 3: Bring Your Product To Market
To sell your food product in Australia, you need to follow local rules and regulations and get your product ready for sale
- Packaging – designing and creating packaging that both keeps your product safe, clean, and saleable and attracts the attention of prospective customers.
- Labelling – This must give all the relevant information about the product including its ingredients, nutritional information, best before date, country of origin, and any claims (sugar-free, organic, etc).
- Testing – to ensure your products’ safety, it’s important to test them before making them available to consumers. This includes nutritional testing, chemical testing for potential contaminants, and shelf life testing to determine a product’s use-by date
Step 4: Money Matters
Money and its responsible management are the lifeblood of any food business, so it’s important to have a handle on it before you start trading. This includes:
- Funding – How do you plan to fund your business? Will you fund it yourself (bootstrapping), seek the help of friends, families, or acquaintances, or secure a loan or investment?
- Costs – What are the costs of your proposed food business? Which costs are fixed and which are variable depending on how much you produce?
- Pricing – How much will you charge for your products? Moreover, how will you decide on the prices of your products?
Step 5: Product Launch
With the foundations of your food business in place, you now have to decide where and how you would like to sell your product. This could include:
- Markets and trade fairs
- Through retailers via an agent or distributor
- Your own store
It’s also crucial, as per your business plan, to have a marketing and public relations (PR) strategy in place. This determines how you’re going to reach your target market and raise awareness of your products; highlighting how it solves a problem or fulfills a need. This could include:
- Traditional advertising methods such as print, radio, and even TV
- Online advertising including social media platforms such as Facebook and YouTube
- Enlisting the help of a PR firm to help cultivate an image with the public
Take Your Food Business To New Heights
If after reading this you’d like to know more about starting your own food business, contact us to find out more about our course. On it, you’ll learn everything you need to know about starting your own business with as little cost and fuss as possible. You’ll also gain access to our list of suppliers and skilled professionals that will help you turn your dream of running your own food business into a profitable reality