Have you been thinking about starting a home food business for a while now? Maybe your grandmother owned a restaurant or you’ve always had the dream of making delicious homemade meals and selling them to your neighbors. Perhaps you’re an aspiring chef, or maybe even just someone who loves to cook and wants to make some extra money from home.
Whatever the reason, now is the perfect time to stop thinking and get going in starting up your own kitchen-based business because there has never been a better time than now.
In this article, we are going to highlight a few of the many reasons why we think you should start your home food business today.
The Growing & Booming Market of Home Food Business
While the factors driving the increasing number of home food businesses across the country are numerous, one of the major drivers has been the economy around it.
The home food business market is booming, and it’s expected to grow by 20% in the next four years. As more consumers shop at farmers’ markets and “eat local,” U.S. local food sales, including cottage-food sales, have soared from $5 billion annually in 2008 to a projected $20 billion IN 2019, according to former U.S. Agriculture Secretary Tom Vilsack.
According to the U.S. Census Bureau, the number of home food businesses has grown tremendously between 2007 and 2022. And while some might think that this trend is simply due to more people wanting to start their small businesses and sell their goods online (which is true), there are other factors at play as well.
This means there are more opportunities than ever before for budding entrepreneurs looking to start a food business at home
Other Reasons for Starting Your Home Food Business
Increasing Demand for Healthier Food Options
While the food industry is growing at a rapid pace, it’s also undergoing a shift. Consumers are demanding healthier options and more transparency in the type of food they eat now more than ever before. Because of this shift in habit, many consumers demanding for local and home-cooked foods.
What this means for you is that there is a greater demand for the value you are bringing to the market – healthy, organic foods, which means more opportunities for you to start your own business!
Cheap Startup Costs
If you want to start your own food business, now is a good time. The cost of starting a home food business is much cheaper than starting a traditional brick-and-mortar place or food truck.
If you have ever considered opening up your restaurant, but lack the funds and space to do so, consider starting a home food business instead.
The costs for starting this business are significantly lower than those associated with setting up a traditional eatery; you don’t need to undergo the same rigorous processes of accessing licenses or permits for a traditional brick-and-mortar restaurant.
This means that if the startup cost was a challenge for you, you and many other people can be able to afford to start without having to spend too much.
Increasing Awareness & Demand to Support Community Businesses
Because of the drive to support community-based businesses, many consumers are beginning to search for ways they can make their purchases count as much as possible by purchasing locally produced foods instead of imported ones.
The increasing level of this type of awareness and demand for locally sourced foods and home-cooked meals is a great opportunity for home food business owners to grow their business and market their products and services at a minimal cost.
Improvement in the Food Tech Ecosystem
With improvements in technology and the rise of the on-demand economy, there has been a surge in food technology solutions like Local Chow which is helping drive the relocalization of food by allowing people to connect to home-cooked food and food vendors within their neighborhood.
This is great news if you have the dream of starting your home food business as this is a great avenue to reach your target audience, and also manage your business operations with minimal stress using their mobile application to reach your target audience.
Variety of Channels to Sell Food
While food tech companies like Local Chow have made it easy for food entrepreneurs to sell their products online using mobile apps to reach a large amount of targeted audience, other great channels like social media, community events, and farmers’ markets, are still available for your business.
These channels provide you with a great opportunity to sell your products online as well as offline.
These varieties of sales and marketing channels increase your chances of running a more successful and profitable business.
The Benefits of Starting a Home Food Business
Aside from the need to start a home food business, there are several benefits to starting your own home food business. Some of which include;
- You can work from home and set your hours.
- You can work at your convenience (in your pajamas if you so choose) and take breaks whenever you like.
- You will be your boss and make money doing something that you love.
- Help others by teaching them how to cook delicious meals that they’ll enjoy at home or on the go. Etc.
There are plenty of reasons why people want to start their own home food business. Those who have tried starting a business know that it can be a bit tough, but the rewards are great. Some people who decide to start their businesses do so because they want to be their boss, work from home, and work for themselves.
It is easier than ever before to start your own home food business. The cost of starting a home food business has gone down, and there are more resources like the Local Chow mobile app available to you to help you grow your business. More people are interested in consuming more homemade foods, so there are more ways for you to sell your product.
So I will ask, what are you waiting for?