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What It's About
Selling a food and beverage product comes with unique challenges and opportunities. How can you do your research to prepare?
Notes from Chris
Episode 1346
Today, let’s look at the topic of … selling a food & beverage product! The first thing to note is that this industry poses both unique challenges and opportunities. Let’s not make light of the challenges, because they aren’t small! First, this industry is more highly regulated than lots of others. For many projects, you don’t need any special licensing at all, but for food, you usually do. Before you do anything at all in this space, do some research about “cottage laws” in your area. These are regulations that initially come from British common law and have been integrated in other parts of the world, including the U.S. and Canada. The idea is to make a distinction between the Joes of the world who are selling their oat bars and the kind of business that needs more inspections and approvals. They vary a lot, but often it has to do with the volume of product you are selling. Listen to today's episode to learn more...THIS WEEK’S ASSIGNMENT: Interested in an F&B side hustle? Look up the local laws and regulations for your area. You might also want to see if there’s a food incubator or local organization that specifically serves aspiring foodpreneurs. MENTIONED IN THIS EPISODE:
- Mountain Biker Takes B-Line To All-Natural Profits: When two friends create an all-natural energy gel that’s as good as the processed alternatives, they shift into a higher gear and crank out a side hustle.
- Hungry, Hungry Hustlers Earn $25,000/Month Selling Paleo Bars: Frustrated by the lack of real food bars devoid of added sugar and weird ingredients they couldn’t pronounce, two hungry fitness enthusiasts create their own tasty paleo bars and hustle their way to multiple six-figures.
- Frozen Pup Treats Are No Barking Matter: Frozen yogurt for dogs? Yep. It starts as one couple’s hobby, expands to a farmer’s market, and eventually earns a million dollars in sales.
Inspiration is good; inspiration combined with action is better. Now get back to work! Yours in the revolution,
