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I have a business idea and but don't know where to start

by yonsi, Window Shopper

  • Created: November 3, 2010, 9:28 pm
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8 comments

Hello Everyone,

 

 I have a recipe that is very healthy and tasty (similar to salsa), handed down by my mother. Its ingredients is only vegetables and herbs, and all my friends love it. I want to sell it, but don't know what my options are. I don't want to open a factory just to make one product (don't have that money either!) and I don't want to sell the recipe to a company who will take all the profit. What are my options? Where do I start?

 

Thank you to all who take their time to reply.

Yonsi

Tags: Discuss Popular Topics, Starting & Registering a Business
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GBIntel | Creator | 11/16/2010 - 3:55 pm

Hi Yonsi Phanio's suggestion is easier, less costly, and doable. Additionally, I suggest (1) protect the recipe (2) sell to caterers (3) at grocers, do free taste samples and have plenty product to sell.
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youngward | Performer | 11/10/2010 - 6:56 am

i maybe be wrong...but you wouldnt have to sell it to a big company...you could have them pay you to use it. you get a percentage of all your profits. but the best place to get advice for this type of thing....is to speak to a lawyer. just my 2cents
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yonsi | Window Shopper | 11/10/2010 - 4:17 am

Hello,    Thanks to all who responded. I am going over the info that was suggested. I hope I get somewhere.   Thanks again!

phanio | Contributor | 11/8/2010 - 7:36 am

There are tons of stories of people starting out with just one product - think about all the non-national brands of chili, hot sauce or BBQ sauce. These people made up batches in their kitchen - then took them to local stores to be sold, went to trade shows and contacted seller reps in that industry to try to get their product in national stores. It really comes down to how much effort you want to put into it. You can also license your recipe to someone else. Thus, you get a portion of the profits for each sale and still keep the rights to the recipe.
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JimD | Former Moderator | 11/8/2010 - 5:36 am

yonsi, It is difficult want you have just one recipe. Can you partner with a local restaurant or farmer's market? How big do you want this to go because starting off small is important. You do not want to get ahead of yourself. Take a look at these two articles: Nutritional Disclosure Requirements - FDA Guidance Offers Food Providers Chance to Weigh In What's Cooking? Food Preparation Options for Home-Based Food Businesses JimD

marthin | Contributor | 11/4/2010 - 5:47 am

I think you should first start with small restaurant and like you told you dont have money so you can take any place on rent so no extra procedure and fund require. And slowly you build good reputaion of your restaurant and increase your customer, check you profit margin and then later on if you feel your business growing then you can plan to buy that palce.
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yonsi | Window Shopper | 11/5/2010 - 8:09 am

hello marthin,   Thanks for you reply, but starting a restaurant based on just one recipe is kind of risky. I need to know how and where to make this product, pack it, and who to sell it to. And how to legally go about the whole process. 

BizResearcher | Window Shopper | 11/9/2010 - 8:17 am

You may want to contact a small business development center or SCORE office in your area. The counseling is free and they may be able to direct you to a nearby business incubator that has a commercial kitchen. Many small specialty food businesses start this way. You rent space in the incubator and have access to the kitchen when you need it. You also have access to people who can help you through the start-up process. You might also do an internet search to find out if your state has a specialty foods association. Many states do and they are often associated with your state department of agriculture. The members of the association will have been where you are now and they can mentor you through the start-up process.