You have a dream, and your current job isn’t part of it cause you’re thinking about starting your own F&B business.
You might’ve known all the inspirations as well as nightmares about starting a business, but that doesn’t mean you shouldn’t try. Let us guide you through the step-by-step to quit your 9-5 job and make your F&B dream come true. Step number 4 is the most important!
1. Prepare a minimum 12-month salary worth of saving
Quit your job and leap confidently into your new venture with a solid amount of savings which can cover your expenses in case things don’t go as planned.
You’re probably excited for the freedom from a 9-5 job, but it’s not going to be as easy as you imagined. Becoming a business owner has its ups and downs, so you need to be prepared for any circumstances that are surely going to affect your money.
Work until you have at least that amount in savings to prepare for your leap into full-time F&B business.
2. Do tons of research and reskill
Having a business plan is a good starting point. However, it must be followed with thorough research to ensure it works and profits you.
Some important areas that you should consider researching on are:
- Business location & target market
- Business competitors
- SWOT analysis
- Supply chain
These aspects will help you to structure your business plan into a competitive and unique to the market.
In fact, you’ll be able to identify the skills required to run your business successfully. Starting an F&B business is going to be a whole new shift from your previous job, hence equipping yourself with entrepreneurial skills will help you to kick start your journey with a bang.
3. Develop menu and recipes
The goal is to have a menu that makes people choose you.
- What do you want your business to be known for?
- What is not available in your area yet?
- What is your culinary expertise?
Take your time to work on each of your recipes so you can decide what to include in your menu and which menu will be the highlight of your F&B.
Once you’ve decided on the menus and recipes, you can start listing out the ingredients, suppliers, and most importantly, the cost.
Refer to beginner-friendly costing formula by us here: Food Costing for Restaurant and Cafe Owners
4. Automate your operations
Trust us, you’re going to need a lot of help in managing your new F&B business. Getting manpower to handle recurring tasks in your business can be costly and time consuming, so your job is not getting easier.
Fortunately, automation can solve this problem. A smart Point Of Sale (POS) system is the greatest tool that you can invest in to automate your operations. Features in a POS like Slurp! can give your business the edge in terms of tracking and operations management.
Read: What Is A Point Of Sale System And How To Choose?
“I don’t need a POS, I’m just starting an online business”.
Did you know online businesses nowadays are automated too? Getorders is an awesome platform to set up your online business instantly to get your business running and just let the system do their magic – display menu, receiver order & payment, deliver food, and analyze sales performance.
Check out: Why GetOrders Is The Ideal Platform For Your Business?
The first step now is to start
Quitting your full time job is the biggest challenge to realize your dream F&B business. But with the right step and tools, you’ll reach the goal in no time. The key is to just start.
After you start the steps above, you can move on to completing the forms and preparing the documents!
Slurp! Is always happy to assist aspiring business owners to make F&B and retail operations effortless. Talk to us now 😀
