By Christian Salloum
Founder and Managing Director, Brandportunity
Firstly, what is a foodpreneur? In a nutshell, it’s an entrepreneurial foodie. Everyone loves food: it might be a memory of a childhood flavour created by a favourite grandma, pottering in a home kitchen, or an obsession or passion which has led to on-screen stardom.
My name is Christian Salloum, and I’m the founder and managing director of Brandportunity. I have decades of experience across various food sectors and have had the opportunity to work with inspiring international and local brands across many markets, business owners and some of the finest research and development chefs from around the world.
I’d love to take you on a gastronomic journey and share some industry insights on how to set up a successful business. The most essential elements of starting any business are passion, inspiration, absolute determination, and taking the opportunity to speak to foodie professionals who can guide you in the right direction.
The Business Plan
The first part of building a business plan is research: this is where the fun begins. Identify who your competitors are and the area in which your business would thrive. Then, go and try them out! Document all of your findings – the good, the bad and the downright ugly. This will help you create a chronological plan to start and grow your business.
- Savour each experience and make a note of the tastes that will create memories, service and ambience. Think about how you can make your restaurant better.
- Make a comprehensive list of all the equipment that you need to purchase to run your business successfully.
- Create a detailed business plan to ensure success and growth.
Consider The Location
Competition is endless and ever-changing. Consider the location of the restaurant carefully and remember that you will not be ‘recognised’ at the beginning. Focus on the quality of the food served and how it makes your customer ‘feel’. The company profile will gain momentum based on exquisite service and extraordinary food.
- Start with a smaller, low-risk investment, manage your cash-flow and build your brand.
- Foodpreneurs are passionate about their offerings and are not out to make a fast buck. Tantalise your client’s tastebuds and leave them wanting more.
- Building solid relationships is vital. Talk to everyone; share your stories, tips and tricks, invite them to taste your delicious creations, get people talking positively about your exciting new brand, form lasting connections with other kitchens and chefs.
Find a Business Mentor
An expert mentor can help guide you and transform your ideas into a state of profit. Brainstorm concepts, collaborate with other parties and food experts, and solidify your brand. Success relies on the value that you offer your customers with thoughtfulness and care.
These are a few essential pointers that offer motivation and courage to start you on this exciting journey.