new business idea?

Question

Hi all and thank you in advance for your replies. I have a business idea that I believe it will work I just dont know how to start. I would like to create and introduce my own product to food markets. I would like to target every grocery store out there and sell my own brand of food at least in my area. the product is a mix in a box and I dont have a food factory. how do you think I should start ? I dont have the product in a package. that 's another thing . does it need to be inspected before it gets packged? i am sure it should...who does it?

Answer 1

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* From Kitchen to Market: Selling Your Gourmet Food Specialty by Stephen Hall
* New Product Launch: 10 Proven Strategies by Joan Schneider, Jeanne Yocum
* Winning at New Products: Accelerating the Process from Idea to Launch by Robert G. Cooper
* Launch It!: How to Turn Good Ideas Into Great Products That Sell by Molly Miller-Davidson

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

The first thing I would look at is investment and capital requirements for the business.


You plan would be a start up plan as you are not an existing business, determine what is most important in your plan.
Form follows function, make the contents of your plan match your purpose and adjust the outline to match your plan.

You will need to have an investors summaries and loan application, when a plan is used to back up a loan application or explain an opportunity to potential investors, it may require a special summary document as well as the complete plan.
Many investors like to see a brief summary, and loan applications do not always require a complete plan.

Time frames, is three years enough? Your plan should project sales by month for the next 12 months, and annual sales for the following two years.

Here is an outline in sequence in a standared business plan

Executive summary

1. Objectives

2. Mission

3. Keys to success

Company summary

1. Company ownership

2. Company history

3. Company facilities and location

Products and services

1. Product and/or services both with discription

2. Competitive comparison

3. Sales literature

4. Sourcing

5. Technology

6. Future products

Market analysis summary

1. Market segmentation

2. Target market segment strategy

3. Market needs

4. Market trends

5. Market growth

Industry analysis

1. Industry participants

2. Distribution patterns

3. Factors of competition

4. Main competitors

Strategy and implemantation summary.

1. Strategy pyramids

2. Value proposition

3. Competitive edge

4. Marketing strategy

5. Positioning statement

6. Pricing strategy

7. Promotion strategy

8. Marketing programs

9. Sales strategy

10. Sales forecasts

11. Sales programs

12. Milestones

Management summary

1. Organization structure

2. Management team

3. Management team gaps

4. Personnel plan

Financial plan

1. Important assumptions

2. Key financial indicators

3. Break - even analysis

4. Projected profit and loss

5. Projected cash flow

6. Projected balance sheet

7. Business ratios

8. Long term plan.

I hope this help you a little.