The idea of being your own boss appeals to many as does the financial reward it may bring. There are of course problems to overcome too. Starting a business is stressful and extremely time consuming. You need to have a good idea, in most cases the right location but most importantly the right personality.
The main problem for most people trying to start their own business is the lack of start-up capital. In the words of Titus Maccius Plautus “You must spend money to make money”. Of course some businesses need less initial outlay than others, one great example being street food businesses.
Pro’s of street food
Other than the relatively low cost of entry into this field, there are plenty of reasons why a street food business could work well for you. Street food businesses have very low overheads; you need relatively little experience to get going; and most importantly, everyone needs to eat!
The last of these may seem a little flippant but it’s a really important point. Despite leaving the recession, Britain is still dealing with austerity. One of the few fields to have seen an increase in demand in spite of slow economic recovery is street food. It’s also a business that can deliver immediate results. You can tell how well you’re doing by checking the till at the end of the day and because it’s a cash-based business you won’t need to worry about invoicing and payment terms from customers since payment is immediate.
Con’s of street food
Serving food can be physically demanding. In the beginning, or even in the longer term, you may not be able to afford to hire someone to help you. There are also stringent legal requirements with which you must conform in order to avoid significant fines or risking the health of your clientele. These are particularly important in the areas of food hygiene and safety.
What would I need?
You will need to secure a “pitch”, source suppliers and buy or rent a stall or a van, an oven, and a commercial fridge. You will then need to encourage people to stick around to eat more and drink more so maybe getting some Used Pallet Racking as seating will work. Just pop over to https://www.rackzone.ie/pre-owned/racking Most of all, you will need an ‘angle’ (type of food), a love of working with the public, an entrepreneurial spirit, persistence and a little bit of luck.