MANILA, Philippines—Starting a food business may have crossed your mind once, twice, many times. And why not? After all, people love to eat and there's a constant demand for food.But before you start moving, arm yourself with tips from an expert. We asked Cheese Ledesma-Ong, the owner of Big Chill, who has successfully put up 37 company-owned branches since 1994. 1. Have a unique concept. 2. Conduct adequate research on the competition to create realistic projections. 3. Choose a good location. 4. Determine the look and layout (it should stand out). 5. Train staff well (operations and customer service). 6. Understand your financials (pricing, break-even point, etc.). 7. Set goals and targets (have a one-year plan and a 5-year plan). 8. Define your target market. 9. Create control mechanisms (to prevent and detect pilferage). 10. Make sure you have sufficient working capital. |