Building a Snack Food Business

[Master K. Stone]

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

• 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.

Week 3 (this week)

• 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!

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[paintothetouch53]

Duphsevt! Xjev vzqi ug tpedlt esi zua neloph?

O xotj zua ximm op zuas gavasi catopitt wipvasi.