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
-
How do you get your first customers for a consulting business?
Back when I started LinkedIn wasn't as huge as it is now. I wish it was. I didn't have a large network and those networking sessions NEVER brought me any clients. I used to go to all sorts of them hoping to get clients. There were a couple of nibbles here and there, but never anything serious. The only thing that helped was reaching out DIRECTLY to people in my target market. That meant cold calls and cold emails. I'd sell myself while thinking about their needs. Once I got a few bites I'd build good rapport by keeping in touch, asking questions, repeating back what they were saying so that they knew I was on the same page and kept my promises. If I said I'd call them back next Tuesday at 2:15 I'd do so. Eventually I built trust with them without having a network, or an insane amount of experience. Oh and the most important thing about consulting is to LISTEN. When those first clients notice that you're truly listening and you're not selling the cookie cutter solutions everyone else is trying to sell them that's when you got them hooked. You start to understand their problems, fears, and see through their eyes and not just yours. A network will help, but in the beginning just good 'ol salesmanship will get the ball rolling.JC
-
How much equity should I ask as a C-level executive in a new startup ?
As you may suspect, there really isn't a hard and fast answer. You can review averages to see that a CEO typically becomes a major shareholder in a startup, but your role and renumeration will be based on the perceived value you bring to the organization. You value someone's contribution through equity when you think that they will be able to add long-term benefits, you would prefer that they don't move company part way through the process, and to keep them from being enticed by a better salary (a reason for equity tied to a vesting arrangement). Another reason is when the company doesn't have salary money available but the potential is very strong. In this situation you should be especially diligent in your analysis because you will realize that even the best laid plans sometimes fall completely short. So to get the best mix, you have to be very real about the company's long-term growth potential, your role in achieving it, and the current liquidity necessary to run the operations. It should also be realized that equity needs to be distributed. You cannot distribute 110% and having your cap table recalculated such that your 5% turns into 1% in order to make room for the newly hired head of technology is rather demotivating for the team. Equity should be used to entice a valuable person to join, stay, and contribute. It should not be used in leu of salary that allows an employee to pay their bills. So, like a lot of questions, the answer is really, it depends. Analyzing the true picture of your long-term potential will allow you to more easily determine the correct mix.DH
-
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
-
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
-
My startup just failed. What could I start to "immediately" generate $1,000/mo?
The quickest path to cash is almost always consulting. Be very specific about what it is you can offer. Don't just offer "business consulting". Find a niche and serve it. Reach out to your network, including friends and family and ask if they need or know of anyone who might want to hear about what your consulting has to offer. That will be way faster than trying to go at it from scratch or cold calling. If you call 100 people in your network this week, you will have a consulting gig within 3 weeks. Good luck, and let me know if you'd like advice on entering a digital marketing/lead generation consulting niche. I've grown from zero to $8,000 of monthly recurring payments in the last 40 days! DaveDR
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.