Cash loans aren’t just for emergency or necessary expenditures. If you are looking for another source of income and you are a foodie at the same time, then why not turn your liking into a business?
Like any other business, it would require some research and careful planning as you start one. Also, you would need money to fund your marketing, acquisition of new tools or equipment, and even for buying spaces for your resto or cafe. And even when you are into cooking or baking, it would be a different activity as you sell products and services.
To give you an idea on which to choose, here are 4 small food business ideas:
1. (Online) Bakeshop
If your relatives and friends enjoy the cookies and cupcakes you’ve made, then think about letting others enjoy them too by selling them. Today, it would be easier for you to sell them as you could post them on your social media accounts. This setup would best work for those who have day jobs but would like to pursue a food business during their spare time.
If you’re thinking about having a physical store, find one which is strategic, so that no bread or cake would be left unsold or uneaten. You would be needing more funds for this option because aside from the location and the construction of the bakery itself, you would have to buy more equipment and tools for mass production. Cash loans could be used as backup funds in case your spare cash couldn’t cover your expenses.
If you are into food preparations, then a catering business could be suitable for you. There are so many events which you could provide service in such as weddings, birthdays, reunions, and the like. Even when you aren’t a good cook, you could team up with a group of people to complete your catering team. Through cash loans, you could share your part as an equipment or dishware supplier, food supplier, or even as the production team.
3. Food truck
With the growing hype of food parks and food trucks today, you may opt to open a restaurant with fewer costs. Starting a business on wheels is relatively cheaper because you wouldn’t have to pay for rental space in commercial areas. Also, you’re more likely to sell to-go food, so the operational and inventory costs could be decreased, too.
4. Restaurant or cafe franchise
Choosing to start a food business through a franchise could be a great but costly way of being a business owner. Especially if you’re going for a known name in the food industry, it’s going to cost you more, but know that it would be of less hassle because the audience and the products are already established. Find a partner to help you with funding the franchise and apply for cash loans on your part so as to have enough funds.
With so many kinds of food businesses today, you could almost sell anything that you could do, given the right market and strategies. And when you think you need a partner to help you financially, you could go and apply for a cash loan through FundKo.
FundKo is the Philippines’ leading peer-to-peer platform connecting verified lenders and borrowers with the best rates. Through FundKo, experience convenience, a fast process, and a better customer experience with cash loans to fund your needs.