10 tips for students: How to start your own food business
Philippine Daily Inquirer
First Posted 18:51:00 05/13/2008
MANILA, Philippines—Starting a food business may have crossed your mind once, twice, many times. And why not? After all, people love to eat and there's a constant demand for food.
But before you start moving, arm yourself with tips from an expert. We asked Cheese Ledesma-Ong, the owner of Big Chill, who has successfully put up 37 company-owned branches since 1994.
1. Have a unique concept.
2. Conduct adequate research on the competition to create realistic projections.
3. Choose a good location.
4. Determine the look and layout (it should stand out).
5. Train staff well (operations and customer service).
6. Understand your financials (pricing, break-even point, etc.).
7. Set goals and targets (have a one-year plan and a 5-year plan).
8. Define your target market.
9. Create control mechanisms (to prevent and detect pilferage).
10. Make sure you have sufficient working capital.
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