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Hello, everyone-
I thought I'd chronicle my process toward building a business in the snack food industry. I hope to provide a more valuable product than what is currently on the market. I'm not reinventing the wheel. Only using a handful of value skews to make a superior product.
In the food industry, there are two broad areas you have to concern yourself with. The product and distribution.
Here is what I have done over the past few weeks toward developing the product:
Week 1
Week 2
There has been a mindset shift. In week two, when I offered free samples, I knew there was some potential. In week 3, when people actually purchased the product (read: they voted for it with their money), that changed the way I viewed things in a big way. Welcome to team producer.
Going forward, I have to get the recipe down to the exact ingredient input.
In the next few weeks, I hope to create some attractive packaging and then see ways I can scale up production. Before that, I have to figure out how I am going to distribute this product. But one step at a time.
I won't be posting too often but I hope to update this thread soon.
Cheers!
I thought I'd chronicle my process toward building a business in the snack food industry. I hope to provide a more valuable product than what is currently on the market. I'm not reinventing the wheel. Only using a handful of value skews to make a superior product.
In the food industry, there are two broad areas you have to concern yourself with. The product and distribution.
Here is what I have done over the past few weeks toward developing the product:
Week 1
- Bought some products from my soon-to-be competition to see what they were producing. It was not good. This was when I knew I could enter the market and shake things up with a superior offering.
- Researched how to make the product in question. Took about 4-5 hours before I was fully confident I could do it.
Week 2
- Produced my first batch in my kitchen. The results were great.
- Provided free samples to around 150 people at a college basketball game. Had a copious amount of positive feedback. (Important step)
- Created some make-shift branding to explain what the product was so people were familiar with it.
- Produced my second batch.
- Sold this batch at this week's basketball game. It was the most expensive item in the kiosk but it sold out fast. This felt really good. Though I had spent around an hour in actual production time my rate of income was made independent of my time. I made $x while watching a basketball game. That product had the DNA of a time-independent venture and I liked it a lot. There is still a lot of work to be done before it is totally independent of my time, but this was a start.
There has been a mindset shift. In week two, when I offered free samples, I knew there was some potential. In week 3, when people actually purchased the product (read: they voted for it with their money), that changed the way I viewed things in a big way. Welcome to team producer.
Going forward, I have to get the recipe down to the exact ingredient input.
In the next few weeks, I hope to create some attractive packaging and then see ways I can scale up production. Before that, I have to figure out how I am going to distribute this product. But one step at a time.
I won't be posting too often but I hope to update this thread soon.
Cheers!
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