Don't Write a Business Plan!
Start with a One Page Business Pitch first. Try this outline to get from Kitchen to Cash faster!, Want my feedback on your One Pager? See The Foodpreneur Advisory Services.
Your One line Pitch (only one line)
Envision you are on an elevator with an
investor and you literally have one minute to pitch your business. Keep it
short and compelling enough so readers will want to deeper into the rest of
what you want to say here.
Business Summary
This explains what you do but not all of the
details… they come by answering the remaining questions here.
What is the Customer Problem You Solve?
Consumers buy things because the products
solve a problem… or this is also called the unmet need in the market. So what
is the opportunity you saw to invest your time and money? Remember that great
taste alone is not enough to get customers to try you product because they
don't know how your product tastes before they taste it! 5 Steps Small Food Businesses to Create Brand Positioning
for Better Sales
How Will You Make Money? (your business model)
Are you selling only to retail? Are you an
ecommerce business? Are you doing both? Are you creating your own brand,
private label or both?
What are your Products/Services
Make sure you are very clear as to what you
sell. If you make ice cream, be sure you articulate if you are premium, gluten
free, vegan, etc. since ice cream is such a large category with many
sub-categories.
Who is Your Target Market (your customers)
Stay away from saying "everyone"…
mistakenly thinking that if everyone eats then everyone is your target! No.
Describe your customer in enough detail so the world can see a
"picture" of your customer. Think about why your customer is
different, how they might use your product in their lives. This should be
compelling enough that a retail supermarket buyer can see that your customer is
also their customer.
Where Will You Sell Your Product?
Will you be in supermarkets and if so what
type? Will you sell only to specialty stores or independent health food stores?
Are you selling as an ecommerce company?
Sales/Marketing Strategy
Try thinking of Who, What, When, Where and Why
to help you formulate your strategy. Butter Lane Cupcakes Uses Social Media to target new
customers
What is your Competitive Edge?
This is your unique selling proposition and
should be more than taste.
Why Should the Retailer Buyer Give You Shelf
Space?
Retail shelves are full and as a shopper you
can see that for yourself. So if you want to get on the shelf, the retailer has
to either discontinue another brand or reduce the number of facings in the
category to make room for your brand. If you fail to articulate a compelling
case you have little chance to get on the shelf. Creating a Winning Retail Sales Pitch
Need more help? See The Foodpreneur Advisory Services.
Need more help? See The Foodpreneur Advisory Services.
