Why You Should Read This... Warning to Newbies in Putting Up a Business

WHY FRANCHISE WHEN WE CAN HELP YOU SET UP YOUR OWN BUSINESS?

Like most businesses, food cart business can be a main or additional source of income. Not many people may realize it, but it can also be a training ground upon which unlimited potential may stem forth. With a small start up business, one can experience putting up, managing and eventually establishing a business without much fear of risk and losses.

Also for the low capitalization factor had it been a popular start up business in the Philippines. Despite the smallness of this venture, some people may find themselves overwhelmed with all the things that need attending to before they can start to have a food cart business and before the business can take off. Some resort to franchising which have it pros and cons, or some opt to avail of start up business packages with the same established business system as franchises but without the feared restrictions/limitations.

For starters, here are some tips on starting a food cart business:

1. Choose a concept – an Ice Scramble Biz. A lot of people find themselves wanting a concept that matches their preferences, specifically, their favorite food / beverage / dessert / snacks. With preference comes enthusiasm which helps out establish drive in pursuing the business. Ice Scramble Biz is hot, in-demand (selling like hotcakes) and much more profitable.

2. Ensure the quality and affordability of the products. The masses, the usual target market of food cart are not very specific about authenticity of the product you offer, but your product must be good tasting and affordable. Ideally, neither of these two factors should compromise each other. Livelihood seminars offer training on how to produce good products with minimized cost. Not to mention the benefit of increased income by being your own supplier.

3. Location. Your location must have substantial potential market regardless of whether you choose to put your business outlet on a residential or commercial area. What to look out for are institutions like churches, schools, offices, commercial center or subdivisions (with considerable number of tenants) which are indicator visibility and foot traffic Your product must also match your market. If you choose to put up near schools, your products must be something the students can afford.

4. Stall or Cart. You can opt to have someone design your cart/ stall for you and have a carpenter fabricate it. Or for convenience, you can opt for business packages with ready made carts included.

5. Business System. Most aspiring entrepreneurs find it daunting to come up with a business system on their own. As first time entrepreneurs, it is best to start with a simple system that you can follow and implement. Franchising companies are popular also because of the clear cut business system they can lend to their franchisees, but with limitations.

Only a few companies like ours, Icy Delight Scrambles, offer business packages with no franchise fee and royalty fee include simple easy-to-follow business system that clients can modify and further improve according to demand.

7. Ensure good service. Despite good products, businesses fail because of bad service. It is important to know what your market wants so you can deliver accordingly. Your store personnel must be well trained both with how products are prepared and customer service.

8. Monitor your inventory. No supplies, no operations. Simple as that. An efficient business system should have an inventory system to monitor your supplies with. Also, with the sales reports, you can audit sales versus stocks consumption.

9. Permits and documents. Prior to operations, register your business and obtaining the necessary permits. You can ask your business consultant of choice to familiarize yourselves with the procedures and requirements so you can avoid the hassle of going to the respective agencies concerned unprepared, which will only result to wasted effort and time.

ADVANTAGES OF STARTING UP YOUR VERY OWN FOOD CART BUSINESS

1. You can use and promote your VERY OWN business name.

2.  Clients have a wide selection of small and medium business concepts to choose from.
3. Hands on training for your future business ventures.

WHY IT’S MUCH BETTER THAN FRANCHISING

No gross revenue sharing (no royalty or renewal fees).

You can promote your own business name, it will your business name which will become popular. Unlike in franchising, it will solely be the franchisor’s and you always need to consult them.

Business name gets promoted through your outlet. Unlimited income.

No product addition prohibition. You can add more products for a more profitable biz.

You can modify and further improve the recommended business system without any restraints from franchisor.

You can put up unlimited number of business outlets as your business develops without having to pay additional franchise fees, royalty fees and renewal fees.