Last Updated on Apr 1, 2020 by James W
We all have those secret family recipes that have been passed down through the generations. And, in a world chock-full of recipe books and cookery shows, it is often these tried and tested dishes that can stand out from everything else. There’s money to be made from them, too. Who hasn’t sat down to a dish from Grandma and thought – this would sell like hotcakes at the local grocery store?
With all this in mind, we thought we would reveal some great tips for taking a homemade recipe and turning it into a money-making machine. We’ve been through making it big in the food industry before on our blog. But, today, we’re going to take things that little bit further. Read on to find out more!
Focus on scalability
OK, first of all, if you want to be a success with your recipe, you need to think big. And, as this interview with Hampton Creek on Forbes will tell you, it’s going to be tricky. There is a lot to think about, but your primary goal will be to find a way to produce an excellent product on a much larger scale. Once those orders start to come in, you will have to deliver immediately.
Refine your recipe
The trouble with homemade food is that it is hard to produce when you scale up. There is a lot to think about from the quality of raw materials you use to the length of time you can keep it on the shelves. Without rigorous testing, there’s a good chance your recipe will taste different. It might be due to preservatives or bulk ingredients, or even because of the manufacturing process.
You also need to brand your meal or recipe so that it stands out from the crowd. Marketing plays such an important role in turning a food company into a success. So, look at hiring a branding company to help you find out who you are and who you should be selling to. They will give you some great ideas that you can explore and, with a little luck, you should be able to appeal to the mass market you need.
Always test your recipe before investing in mass manufacturing. Family and friends are a good starting point, but you also need a neutral opinion. Try finding a local farmer’s market to sell your products, and keep a close eye on how well it is received. Try to get as much customer feedback as you can, and you will be able to form a better view of how your recipe might perform in a bigger marketplace.
Finally, have a strong belief that your product will work. You will need to ooze confidence when it comes to presenting your recipe to grocery store buyers. You’ll also need to back up your confidence with accurate stats and projections. Always be realistic with your expectations, though. Throwing out wild figures for your estimates is never going to impress a savvy and experienced buyer.
Good luck with the new recipe – we wish you every success!