Do you want to start a profitable corn roasting business of your own? And looking for advice and basic guidance? Here in this post, we put every detail for starting a profitable corn roasting business with a small investment.
Corn roasting is a profitable and lucrative low-cost venture. And any individual can start this business on a full-time or part-time basis. However, the business demands proper planning, the right equipment, and good promotion. Roasted corn is ready-to-eat food. Additionally, you can offer various creative foods to your consumers. It is a popular snack item throughout the world.
Here are the 10 Steps to Start Corn Roasting Business
It is important to craft a business plan prior. First of all, decide the size of your business. Because every other thing depends on this factor. Determine your business objective and mission statement. Determine your target demographic and how you will reach them. In addition, create a detailed financial plan including rent, machine purchase, staffing, operational cost, and marketing expenses.
1. Legal Compliances
As you are dealing with the food item, it demands to license. Check your state law. And of course, register your business. Generally, you will need to check the food processing and health department for licensing. Additionally, consult with the local small business consultant about the tax liabilities of your business.
2. Name your Corn Roasting Company
Choose a catchy and memorable ‘Name’ for your corn business. An attractive name not only helps in contributing to the overall brand personality but also take a useful role in fetching extra customers. Check our detailed guide on the steps to follow to name a business.
3. Arrange Funds
According to the plan, you need to arrange finance. You can borrow cash from friends and relatives. in addition, you can apply to a bank for a loan. Angel investment is also a very good option for this type of business. However, you can also accept equity capital investment by having business partners.
Related: How To Raise Small Business Capital From Investors
4. Select Location
You will need to secure a good retail location. A location that attracts your target consumers. This is one of the important considerations of this business. You can go to the shop-in-shop model. Otherwise, you can start with a small kiosk. However, you must select a location in nearby malls, shopping centers, supermarkets, schools, colleges, cinema halls, etc.
5. Buy Corn Roasting Equipment
Procure the essential equipment for running your corn roasting business. Depending on the menu and size of your business, you will need to procure the roasting machine and other equipment.
A roasting machine is an important thing in this business. Because a good and effective roasting machine can only deliver quality products.
Check your nearest market and buy a corn roasting machine or you can buy it online from Amazon.
6. Create a Menu Card
Select the menu carefully. You can offer only roasted corn. Additionally, you can offer other delicious snacks with roasted corn. However, it will definitely enhance your profitability. Because value-added food items generally fetch more profit than one single product.
7. Procure Raw Materials
You will need to ensure a consistent supply of fresh corn to your store. And you can only make good food from only good quality fresh corns. If you want to offer other foods then you must arrange the ingredients for that.
You will need to employ employees. Even a small shop attracts different types of work responsibilities. Such as preparing the food, delivering, taking payments, etc. So plan carefully for the staffing solution. In addition, in any retail business, employees play an important role in the overall success of the business.
Try to offer competitive pricing. In this business, different products attract different price tags. In addition, you can offer different pricing for small and large quantities.
Related: How To Price A Product
10. Have a Promotional Plan
In this type of business, in-store branding is important. Place attractive signage. If possible, maintain a specific uniform with your company name and logo. Create your own website. And promote your site with offers. Additionally, think about doorstep delivery – if possible. If there is a food delivery eCommerce company, make a tie-up with them. You can expand the business by offering a franchise of your brand.
If you want to start your own profitable corn roasting business successfully, I will recommend you to read the book ‘How to Start a Corn Roaster Business? This book provides a complete detailed guide that shows you step-by-step how to make money selling roasted corn.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.