The foundation of building a successful business empire that transcends time and global economic challenges begins with the generation of a good business plan. A good business plan draws its strength from the ability of the business idea generator’s creativity and innovativeness. It is not surprising that very many established companies still find it hard to generate business ideas in their domestic economies; not because there are no opportunities in such economies but because of their lack of innovativeness. Lack of creativity and innovation not only affect established companies, so many individuals with the desire of making their debut into the entrepreneurial world also face the challenge of generating a business idea. In order to come up with a viable business idea, it is important that one considers among other factors: professional skills, available capital and the trends in the market. In this paper, I discuss a business idea generated in the food and beverage industry.
The global economic crisis has greatly affected the income of people all over the world. Americans have not been spared by this menace and just like other people elsewhere, they are struggling to make end meet. The decrease in the income of the people has made it necessary for the people to adjust their expenses. There is however no better way of cutting down one’s expenses than thinking about where to buy what you put in your stomach. No matter how tough one’s financial situation gets his/her budgetary allocation on food cannot be scrubbed out; it can only be adjusted. For entrepreneurs, this is a real business opportunity that should not be left unexplored. How about coming up with an alternative way of selling food to these people whose meager income can no longer support them to dine in city restaurants and other posh dining places? This economic situation thus presents to entrepreneurs a business opportunity which when innovatively cultured into a business idea will see the rise of new fortune 100 business empires.
A good business idea that is greatly supported by the current economic situation in the food and beverages industry is the kiosk business. Street food industry is becoming more and more popular in the United States since majority of the people find it more financially convenient. A food kiosk business will do well and achieve greater success when located in densely populated parts of the cities. Other than the individuals who wish to cut down their food expenses by avoiding restaurants, workers who feel pressed for time also find food kiosks to be a better alternative to costs. This makes food kiosks to have so many customers and hence attract higher returns on the invested capital (Washburn, 2011).
Starting up a food kiosk is quite easy and one should not have any fear at all. It is even simplified for chefs who want to seize the opportunity to become entrepreneurs. The business does not require large starting capital. One can start by as little as $ 5000 only. Depending with the location; $ 3000 may go acquiring the kiosk, $ 1000 can be channeled to the food bills, $ 300 on an attorney and the remaining $ 700 on other miscellaneous expenses. As seen, armed with around $ 5000, you are able to have a food kiosk running. It should however be understood that these are just but the tentative budgetary allocation for starting a kiosk business; variations are expected depending the choice area of the prospective entrepreneur.
The choice of the food to be sold in the food kiosk ultimately lies in the potential customers. You cannot impose your interests on your customers; it therefore becomes important that your menu be influence by your potential customers. The potential customers also dictate the most effective working hours of the food kiosk. It is quite unimaginable for you to serve only lunch for your customers when as a matter of fact; they are still available for supper. The success of a food kiosk depends on how much you understand your potential customers, the more you do, the better. This will play a crucial role in ensuring that you establish a large network of customers once the business picks up.
In conclusion, for a food kiosk to be successful, the owner should be ready to dedicate his/her energy into the business starting from inception throughout its fruition. He/she should also take the advantage of the mobility of the business to ensure that the business expands rapidly and reaches different regions. This is important in building a successful business empire from scratch.