Before starting any kind of business, we always do the math. How much do we need to invest in the business? What are the ongoing expenses? What’s the success rate of similar businesses? And, most importantly, how profitable is the business?
With the ever-increasing number of food and beverage businesses around the world, the industry is quickly becoming a major cornerstone of the economy worldwide. Some countries even report that it is, indeed, the biggest manufacturing sector of their economy, bringing in billions of dollars in profit and providing thousands of job opportunities. Such statistics make starting a food and beverage business seem appealing, but it also states that the competition is going to be unlike any other.
If you’re still trying to make up your mind about starting an F&B business, here are 8 surprisingly profitable businesses to help you increase your chances of success:
Without the need to stick to one physical location, starting a food truck business provides the flexibility to move around and get much more exposure - as opposed to opening a local restaurant. Your initial investment will go into getting the food truck, which can be a bit costly at first; however, along with your daily investment in getting ingredients, your costs will quickly be covered by the profit you make. With the right market research, you’ll be able to target the areas with the most traffic, such as events, parties, and local sports matches. If your food quality is good and tasty, you’ll quickly be acclaimed in your area.
Starting a frozen drinks business is a great idea, whether you’re starting it out on its own or you’re adding it to your established restaurant, cafe, or office space. Frozen drink machines offer you great advantages, as this manufacturer explains, from a variety of flavors, ease of operation, low maintenance costs, and a group of features to choose the most suitable machine for you. The best thing about this business is that, in addition to frozen drinks being so popular, you’ll be able to cover your initial investment and make a quick profit in a matter of a month or two.
A Coffee Shop
There’s nothing like a good cup of coffee to start your morning - that’s one thing that people all over the world agree upon. There might be a lot of competition from large manufacturers when it comes to coffee shops, but it all comes down to how well you plan your business. The key is in finding the right supply chain, which should be of a suitable price and high quality, having a solid financial plan that covers all of your costs, and performing detailed market research to know what your customers will like most about your products.
If there’s another thing that people agree on globally, it’s that our sweet tooth can never be predicted, but when it hits, it needs to be sated. The continuing increase in the sales of candy all over the world attests to that. The good thing is that there’s no lack of candy to get you started, and whatever you choose, you’ll find a sweet tooth craving it. Whether you start a candy store or you add candy to your existing business, it’s easily going to provide you with solid profits.
Bubble Tea Shop
One of the latest innovations in the beverage industry is bubble tea, which has quickly grown in popularity as well. People all over the world have become so enchanted with bubble tea and the pleasurable taste they experience, so you’ll never run short on demand. The best thing about starting a bubble tea business is that it comes with very little initial investment needs, providing a high turnover in return.
Ice Cream Stand
Another business idea that requires low capital and initial investment is making ice cream. There’s no need to mention how high-in-demand this business is, you only need to present it to the eyes of passerby’s and you’ll definitely attract customers. The ice cream business is advantageous because you won’t need a high level of skill or expertise to operate the machine and maintain your quality. All you need to start is an ice cream maker machine, the blended mixture, and cups or cones - and you’re good to go.
This business idea comes in to save the day for the busiest employees and individuals who need a quick fix in their hectic days. And in our world today, there are many of us who fit the description. A ramen business is not only practical, easy to operate, and offers a lot of opportunities to get creative in adding side items and flavor mixtures, but it’s also very easy to start with low capital. Your ramen business can be started simply by creating a ramen stand or joint anywhere, and its revenue stream is also awarding due to its high average cost.
Last but not least, starting a pizza business can be just what you need to make a quick profit. If you put into account the cost of making one pizza, you’ll quickly realize the margin of profit you can make out of it is appealing. Most of your investment costs will go into setting up a joint or renting a place for a restaurant, which can be quite costly compared to the rest of the options mentioned here. However, pizza is a very practical takeaway for brunch and lunch, so you can even turn it into a home-based business solely for delivery.
When it comes to starting a food and beverage business, you might feel overwhelmed by the string of competition you’ll be up against. However, the fact of the matter is that it all comes down to how strategically you play it. By choosing a business that needs low capital to get started while providing a high turnover and profit margin, you’ll see your business succeeding in no time. Take note of the ideas here, and who knows, maybe you’ll be bringing in the big bucks soon enough.