Profitable food business ideas

Overview

Before you decide to get bored, let us tell you that these are the business opportunities you are looking for and are totally capable to keep up with it.

So, scratch all your other plans and partner up with your friends to brainstorm about this so that you can go to that exotic-international vacation you all were planning to and you’ll be having the growing food industry to thank too, not us, here’s why

Did you know ? An average person spends 35% of his income on food and beverages which includes groceries, eating out and take outs. Infact the global expenditure on food by consumers is likely to reach $20 trillion by 2030.

There are these routine expenditures then there are the massive expenses people incur on food and beverages on occasions like weddings, concerts, parties etc which has boosted the business for the caterers, food trucks, street fast food chains etc

Considering this individually, it’s  market size is estimated to be worth around ₹3,37,500 crore and the Indian food market on a whole is estimated to be worth at $894.98 billion.

How would you like to be a cheery on the top of this cake size food industry? Well, now you can and here’s how

Profitable food business ideas

From just being established as a diner to being available at your doorstep without you having to get dressed at all, somewhere the food business grew up.

Here are the few food business ideas that won’t keep you starving.

1. Food truck business

The food on wheels business has recently gained popularity in the past 5-6 years. There are currently 21 food truck business brands with different varieties in terms of cuisines, costs, format etc.

A food truck business involves using a large vehicle to cook and sell food to the consumers. This food business allows you to cater to a wider market by moving to and fro from one place to another and attract different consumers niches

Type of food truck business

• Fast food
• Barbecue
• Organic food
• Street food
• Burger
• Waffles
• American
• Italian etc

Licenses required to establish a food truck business

• FSSAI license
• NOC. From chief fire officer
• Vehicle license
• Permission from the local municipal body

Investment and profits

• Investment required: ₹1 lakh – ₹20 lakh (Depending on your scale of operations)
• Profits made.            : ₹300000 per month

Advantages of starting a food truck business

• Low investment in terms of capital and manpower
• Flexible timing and schedule
• Affordable by all consumer segments
• Quick turnover
• Easy expansion opportunities

 Target consumers

• Catering business
• School and college students
• Working class population

2. Catering service business

The catering service business majorly has those 10 million wedding which take place per year in India. It involves providing the service of food to hotels, restaurants and other specific sites

Types of catering services

• Wedding
• Corporate
• Buffet
• Sit down
• Restaurant catering

  Licenses required to establish a catering service business

• FSSAI license
• Alcohol license
• Food establishments licenses
• Other licenses

  Investment required to set up a food catering business

• Investment required : ₹1 lakh – ₹20lakh
• Profits made.             :  ₹1 lakh – ₹15 lakh

 Advantages of starting a food catering business

• Wide target customers
• High turnover
• Low investment
• Word of mouth promotions

Target customers

• Aircrafts
• Weddings
• Restaurants
• Events and occasions
• Commercial offices

3. Homemade meal business

In this era’s growing need of increasing one’s disposable income through their existing skills and passion for food has bought a trend of becoming an entrepreneur by selling homemade food/meals to customers

Moreover, because of the westernisation in terms of food consumption pattern and shift towards healthy food over fast food chains and increase in demand for ready to eat meals has made consumers prefer this over any of those high calorie joints

Types of homemade meal business

• Lunch, dinner meals
• Tiffins
• Cupcakes
• Brownies

Licenses required to start up a homemade meal business

• GST registration
• Food safety license

Investment and profits from establishing a homemade meal business

• Investment: ₹50000-₹1lakh
• Profits.       : ₹1lakh-₹3lakh per month

Advantages of starting a homemade meal business

• Can be started at home
• Easy marketing prospects
• Wide scope for expansion

Target consumers

• Middle and working class
• Corporate events
• Parties and occasions
• Millennials and baby boomers
• Food delivery apps: Swiggy, ZOMATO, Rapido etc

4. Fast food cafés and street and stall based business

India comprises of 67% of the unorganised fast food market held by street food vendors and the remaining by the fast food giants like Burger King, KFC, McDonald’s etc.

The demand for fast food has been increasing because of an increase in the disposable income of the consumers and also for the rising demand of the ready-to-eat food

Then there’s demand for the stall based dessert and juice bars contributed by the same factors except by the healthy-eating and ice cream loving audience.

Don’t worry, you can fit in here and fit in well too

Types of fast food business

• Momos
• Burger joints
• Juice centres
• Ice cream centres
• Bubble tea
• Chinese cuisine
• Street food

Licenses required to establish this business

• FSSAI registration
• Food establishment license
• Health and sanitation licenses
• NOC
• GST Registration

Investment and profits from establishing this business

• Investment required: ₹1lakh-₹10lakh
• Profits made:               ₹1lakh-₹5 lakhs per month

Advantages of starting a fast food café/street based café

• Wider consumer reachability
• Low investment
• Quick turnover
• Bulk orders

Target customers

• Students from college and schools
• Families
• Middle and upper working class
• Tourists
• Online food delivery apps

Suggestions

• These business opportunities are the most profitable ones under different investment categories suiting your capital capabilities
• Food industry in India has been booming because of the westernisation in terms of ready to eat and quick service restaurant stations as mentioned above
• All of the above food businesses come with quick turnover and provide you with wide scope for expansion, giving you just the reasons you need for taking any of these opportunities up.