Planning and executing a start-up can be exciting and at the same time a challenging experience. With awareness about the environmental impact of food and consumers looking to eat healthier, more and more people are paying close attention to where their food comes from. This makes now a better time than ever to secure a business loan to start an organic food business. Naturally, you begin to question how to go about this process and make your enterprise a success. Well, here’s how.
1. Decide your product type
The first step involves choosing what your store will sell. For instance, fresh produce that’s grown free of fertilizers, chemicals, pesticides, etc., or organic livestock which you need to raise in natural living conditions along with supplying organic feed and forage.
2. Choosing a location
Based on your product type, you need to choose a location. The ideal site is one that is attractive, affordable, and witnesses a high footfall. Typically, organic stores work well in urban settings since the price of organic products are usually on the higher side. In such a case, don’t forget to check your business loan eligibility to secure a loan that will help you further your plans.
After initial planning, you need to get hold of capital for you to set up your business. You need capital to secure raw material, pay advance for your store, pay salaries, source machinery, decorate and furnish your store, etc. If you need monetary assistance, you can apply for a business loan and use a business loan EMI calculator to find an amount that suits your needs.
4. Secure the necessary permits
Before you commence operations, there are several formalities and permits you need. Some include:
- A permit from the Health Department
- PAN card
- Employer Identification Number
- Bank account details
- A certificate from the Organic Trade Association
- Food safety license
5. Set a reasonable selling price
It’s important to fix a competitive price that encourages sales as well as generates revenue. For example, you may suffer a loss if your product prices are too low. On the other hand, very high prices may discourage customers who might think it’s out of their budget.
6. Advertising and promotion
As you’re just starting your business, you need to get the word out. A few ways you can capture the attention of customers are brochures, bulk SMS marketing, or advertisements on social media. These are inexpensive advertisements and sale-enhancing tactics for a start-up. Whether your business loan interest rates are low or not, you still need to put some money aside to market your store so that you can build your base of loyal customers.
One of the best ways to kick start your business is with a business loan. Many lenders offer attractive features like lower interest rates, easy and flexible repayment offers, no collateral, minimum documentation, and convenient online processing, and more. So, you can focus on making your business flourish.
In this day and age, food stores must have an amazing website and sell online to their customers. Customers should be able to place orders online for pick up or delivery. There are established grocery online ordering websites tools available, which are easy to setup and cover all the features you will need to operate online.