If creating a delicious recipe was all it took to introduce a successful commercial food product then the marketplace would be well stocked with family favorites. Instead the success rate for new food product launches stands at a meager 11 percent. However, armed with proven business management concepts, access to financial resources, and the know-how and patience to navigate government regulations, food entrepreneurs can successfully take their food product idea to market.
Chesapeake College will be presenting a one-day workshop for food entrepreneurs called “Food for Profit” on Tuesday, March 26 at the Small Business Development Center at Chesapeake College, Routes 50 and 213, Wye Mills. Space is limited.
Presented by Penn State Extension, the workshop is sponsored by Eastern Shore Entrepreneurship Center (ESEC) of Easton, Shore Gourmet, and University of Maryland Extension.
Tuition is $45 per person, which includes all materials and lunch. Pre-payment and registration are required. Register online or by phone at http://extension.psu.edu/food-for-profit or (717) 270-4391. For course content details, contact Penn State Extension Educator Winifred McGee at wwm1@psu.edu or (717) 270-4391.
Course content
Participants will receive comprehensive information, including:
• Getting Started – An honest look at the challenges and advantages of owning a food related business.
• Legally Speaking -The Maryland Food Protection and Consumer Health Services role in your venture – how the sanitarian can help your dream become a reality.
• Developing a Game Plan – A good business idea needs to be “do-able,” marketable, and profitable; your feasibility analysis is step one toward a great business plan.
• Finding a Niche – Using the four Ps: price, product, placement, and promotion to determine who will buy.
• Safe Food Handling – Good preparation and storage methods prolong shelf life and lessen liability for your business; strategies to lessen your food business liability.
• Packaging your Product – Selecting the perfect package and food labels to intrigue your potential customers.
Founded in 2006, the Eastern Shore Entrepreneurship Center works to develop and enhance an entrepreneurial ecosystem on Maryland’s Eastern Shore. ESEC provides training, services and programs to help business owners and entrepreneurs succeed by creating greater access to capital, and offering programs that develop entrepreneurial skills and knowledge. Included are ShoreVenture, a comprehensive 10-week entrepreneur-training program, annual business plan and student plan competitions, and an annual entrepreneur conference.
In 2012, ESEC launched “hotDesks,” providing co-working spaces for independent professionals. The first location opened in Salisbury with a second location to be announced on the Eastern Shore. For more information on the business plan competition or ESEC, call (410) 770-9330 or visit ventureahead.org.