Loading...
Answers
MenuWhat first steps do I need to take in order to start my own fast food company?
I want to start a fast food company, I'm not sure how to start, I plan on going to food festivals and building a customer base. Is this a good idea?
Answers
My assumption is that fast-food chains begin as restaurants in a single location. Then, if they're successful, they expand – with or without franchising.
Honestly, I know next to nothing about running a business in the food industry. But I can help you with 1 important first step: creating your brand, choosing a name, and obtaining the matching domain.
A single-location restaurant might get by with a clunky domain or a brand name that isn't unique at a national level, as long as customers can find their building. However, if your goal is to expand beyond that 1 shop, then branding and the internet will be especially important.
I think it would be best to take a step back first of all! The passion is good, but you need to have a product that your customers enjoy, and then build your customer base.
Start at farmers markets, festivals, etc. and listen to your customers. See what they like, see what they don't like. If there's success there, maybe find a brick and mortar location where you can start your first restaurant.
It's a tough road, and it takes a lot of time. But if you stick with it, you can do it!
The first step to starting any business is validating the idea. Depending on what you're planning to make, ask around and see if anyone is already interested. And if it's not too costly/time consuming, absolutely make something and test it at the food festivals. Important thing is to keep testing until it's clear that your customer base is getting larger. Good luck!
You can start a fast food company in ur locality but first you need to understand the local fast food evironment, feasibility, competetors and how they work. If you can find a loophole in that market you can use it to your advantage to create a company.
E.g: in our locality we had roadside fast food sellers who sell at a low cost and luxurious fast food restaurants who sell food at a premium rate. Here there was a shortage of normal vendors in fastfood who sells food at reasonable cost with quality and clean mainataince. So with my consulation 4people started a fast food comapany and they are earning profits.
If you want any clarification or any inputs ping me
If you've been able to validate your idea by going to food festivals and building a customer base (ideally by serving and *charging* for the food you intend to sell), consider starting with a pop-up or food truck in order to further validate your idea and keep you startup costs low. If you can make money with your food truck, you should be able to either bootrap your way or raise a small round of money in order to launch into brick and mortar. Good luck!
Related Questions
-
Business partner I want to bring on will invest more money than me, but will be less involved in operations, how do I split the company?
Cash money should be treated separately than sweat equity. There are practical reasons for this namely that sweat equity should always be granted in conjunction with a vesting agreement (standard in tech is 4 year but in other sectors, 3 is often the standard) but that cash money should not be subjected to vesting. Typically, if you're at the idea stage, the valuation of the actual cash going in (again for software) is anywhere between $300,000 and $1m (pre-money). If you're operating in any other type of industry, valuations would be much lower at the earliest stage. The best way to calculate sweat equity (in my experience) is to use this calculator as a guide: http://foundrs.com/. If you message me privately (via Clarity) with some more info on what the business is, I can tell you whether I would be helpful to you in a call.TW
-
What is a better title for a startup head....Founder or CEO? Are there any pros/cons to certain titles?
The previous answers given here are great, but I've copied a trick from legendary investor Monish Pabrai that I've used in previous startups that seems to work wonders -- especially if your company does direct B2B sales. Many Founders/ CEOs are hung up on having the Founder/ CEO/ President title. As others have mentioned, those titles have become somewhat devalued in today's world -- especially if you are in a sales meeting with a large organization. Many purchasing agents at large organizations are bombarded by Founders/ CEOs/ Presidents visiting them all day. This conveys the image that a) your company is relatively small (the CEO of GM never personally sells you a car) and b) you are probably the most knowledgeable person in the organization about your product, but once you land the account the client company will mostly be dealing with newly hired second level staff. Monish recommends that Founder/ CEOs hand out a business card that has the title "Head of Sales" or "VP of Sales". By working in the Head of Sales role, and by your ability to speak knowledgeably about the product, you will convey the message that a) every person in the organization is very knowledgeable about the ins and outs of the product (even the sales guys) and b) you will personally be available to answer the client's questions over the long run. I've used this effectively many times myself.VR
-
For every success story in Silicon Valley, how many are there that fail?
It all depends on what one decides to be a definition of a "success story." For some entrepreneurs, it might be getting acqui-hired, for some -- a $10M exit, for some -- a $200M exit, and for others -- an IPO. Based on the numbers I have anecdotally heard in conversations over the last decade or so, VCs fund about 1 in 350 ventures they see, and of all of these funded ventures, only about 1 in 10 become really successful (i.e. have a big exit or a successful IPO.) So you are looking at a 1 in 3500 chance of eventual venture success among all of the companies that try to get VC funding. (To put this number in perspective, US VCs invest in about 3000-3500 companies every year.) In addition, there might be a few others (say, maybe another 1-2 in every 10 companies that get VC investments) that get "decent" exits along the way, and hence could be categorized as somewhat successful depending on, again, how one chooses to define what qualifies as a "success story." Finally, there might also be companies that may never need or get around to seeking VC funding. One can, of course, find holes in the simplifying assumptions I have made here, but it doesn't really matter if that number instead is 1 in 1000 or 1 in 10000. The basic point being made here is just that the odds are heavily stacked against new ventures being successful. But that's also one of the distinguishing characteristics of entrepreneurs -- to go ahead and try to bring their idea to life despite the heavy odds. Sources of some of the numbers: http://www.nvca.org/ http://en.wikipedia.org/wiki/Ven... https://www.pwcmoneytree.com/MTP... http://paulgraham.com/future.html Here are others' calculations of the odds that lead to a similar conclusion: 1.Dear Entrepreneurs: Here's How Bad Your Odds Of Success Are http://www.businessinsider.com/startup-odds-of-success-2013-5 2.Why 99.997% Of Entrepreneurs May Want To Postpone Or Avoid VC -- Even If You Can Get It http://www.forbes.com/sites/dileeprao/2013/07/29/why-99-997-of-entrepreneurs-may-want-to-postpone-or-avoid-vc-even-if-you-can-get-it/MB
-
What are the demographics for people who shop at Costco and other wholesale clubs?
COSTCO AFFLUENCE: You might be surprised to know that 54% of CostCo's Wholesale Club (CWC) members are considered wealthy, or "affluent", with only 15% just "getting by" or "poor". BUSINESS VS CONSUMER: Approximately 24% businesses, 76% individual consumers. Even though business customers drive about 60% of CostCo's revenue, about half of that is for home use, so it's about 30% business revenue and 70% individual consumer revenue. HOUSEHOLD: 35% of CWC members have 2 person households. 56% have three or more in their home. I have a ton of paid tools at my disposal for market research. For much more detail on other demographic data for CWC, along with info from BJs and other wholesale clubs, set up a call with me on Clarity.RD
-
Where can I find programmers willing to join a growing mobile start up for equity only?
You won't find anyone worth adding to your team willing to work for equity only, no matter how compelling your product and business is. The realities of the talent market for mobile developers anywhere is such that a developer would be foolish to work only for equity unless they are a cofounder and have double digit equity. Happy to talk about hiring and alternatives to full-time hires.TW
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.