Basic tips to start your own food business

Food is one of the most profitable businesses in the world, as not only do all human beings need to eat to stay alive, but it is also probably one of the things we spend the most on.So starting a food business is not a crazy idea, and if you were considering it but don't know where to start, here are some basic things you should know and take into account before you begin, such as investment, location, and type of food.ConceptIn our country, there is a huge variety of food businesses focused on different socioeconomic sectors, so you need to know what type of audience you will target with your business.If you like Mexican food, you don't have to limit yourself to just one dish, so that customers have a wide variety to choose their food from, just like with drinks.The importance of defining a concept is to determine your investment, although this is not exact, as the costs of supplies vary; for example, in businesses with foreign foods, the raw materials tend to be imported.CostsOnce you have established the type of business you will have, you need to establish the costs, which are divided into fixed and variable.Fixed costs are the expenses you will incur that will not change for a while, such as rent for the premises or employee salaries. This way, you will know how much money corresponds to those expenses and how much is left for you.Variable expenses are those that depend on the profits or losses of your business. For example, if you sell tacos, the cost of a kilo of steak is approximately 160 pesos, while the cost of tortillas is 13 pesos and contains around 35 pieces, so you would use between 50 and 80 grams of meat and two tortillas for about 20 tacos, depending on the customer’s preference.To these expenses, you need to add plates, napkins, as well as the ingredients for salsas, guacamole, or other ingredients like potatoes, beans, or nopales to complement the main dish, so look for buying supplies in bulk.AdvertisingThe first thing you need to do is make yourself known, so you could reduce costs or run promotions, anything that helps you advertise your business. Once you are solid, you can increase the costs.Remember that food is a profitable but highly competitive business, so you need to have good planning and, above all, great taste accompanied by quality and good prices.