Startups

To come up with a realistic strategy for action and growth, food entrepreneurs should make efforts to understand this entrepreneurial ecosystem and whether grants, loans, investments or a combination of capital sources makes sense to fund their growth. Only then can food entrepreneurs plant the seeds for a profitable and sustainable food business.

Most entrepreneurs start out with friends and family funding (essentially people they know who will take a risk with them) or else they "bootstrap" their company, self-financing from the owner(s) and free cash flow. However, in food, this doesn't get you very far - food businesses need outside capital, usually from a variety of sources, to compete.

The business model is the sum of all the things that ensures the organization sustainably makes money and delivers on its core products, services and mission. What many food entrepreneurs don't often realize is that innovation comes not just in the form of new products or services, but also in their business model.

The answer to "where is your growth path" lies in the company's business model and their willingness to find creative solutions to how they can grow their unique brand and strengths. No path is easy, but we encourage entrepreneurs to consider creative ways they could grow, including horizontally, to reach profitability and sustainability.

If e-commerce wasn’t a priority for food brands before, COVID-19 has certainly made it one. Online food sales are soaring right now, and many shoppers want to buy direct from producers. A big part of your online strategy is deciding which online platforms to pursue. Our latest podcast explores how to figure this out. Also check out our free business tools to guide businesses during this tricky time, and remember to join our Monday virtual huddles for entrepreneurs and consultants.

Food and farm entrepreneurs are taking action against food waste and its impact on climate change by championing upcycled food. Repurposing otherwise-discarded food into value-add ingredients and products is both sustainable and a smart business strategy. Learn about brands making real change and how you can join the upcycled food movement.

This webinar reviews resources available from the USDA, digs into the details of LFPP and FMPP grants, and integrates a live audience Q&A to learn more about what is eligible for award. Listen to learn more about how to submit for these grants funds that support local foods!

Having your own business is difficult and as a founder, you start out with just you. So many things that are difficult to deal with happen in business and how you adapt is key to business survival. Finding creative revenue streams and maybe even a new business model can be the way your business survives deaths, fires and funding falling through.

Food consumers have been seeking more "premium" experiences from the food they purchase, including better connections with their food and understanding where it comes from. Developing brands for agricultural products can help farmers produce products that earn them a premium and are meeting a real consumer demand.

The more you have the ability to analyze what went right or wrong, the more useful your financial model and plan are to making business decisions. Being able to have both an accurate history and a record of making realistic projections that were met can give entrepreneurs credibility with lenders, investors and the business' board of directors.