Bhutan’s landscape is undergoing rapid changes, and so are its culinary preferences. With a growing middle class and increasing tourist inflow, there is a rising demand for innovative and exciting food options. This presents a unique opportunity for a new food business idea in 2024.
Introduce a new type of cuisine in Bhutan, offering a fresh and flavorful experience. Everyone needs to eat food, and everyone likes to eat healthy and tasty food, but only a few can provide such food. Cater to busy professionals with healthy, convenient meal options celebrating local ingredients.
Step-by-step guide to starting a food business in Bhutan
Before launching a food business, it’s essential to understand how to start one. Here’s a step-by-step guide to launching a food business in Bhutan:
Step 1: Learn About Your Interests and Skills
Starting a food business doesn’t necessarily only mean cooking food; there are several factors to it. You need to learn about your interests. Find the field that interests you, and later on, discover your skills related to those interests. Skills can be learned gradually, but you need some basic skills to run a business successfully. More than being interested in a business idea is required to gain business success because you need the right skills to build and develop your business.
Step 2: Establish a Business Plan.
Any food business needs a detailed business plan. It serves as an overview of your business idea and a guide for running it. A complete business plan should include information about the product or service, market size, unique selling point, menu details, and brand name. Additionally, it should include a study of competitors, industry trends, and the first steps to be taken.
Step 3: Finances
Finances are important in every business plan that is to be executed. With proper funding setup, your food business can happen. Start a small business first because it will require small business funding. Getting a loan in Bhutan is hard, so beginning with a small fund is the best idea for your food business finances. You should have clear-cut finances that budget your spending and investments, so you won’t go overboard with unnecessary spending. This way, you have money for emergencies.
Step 4: Setup Your Business
Now that you’ve processed out the funds, get your business started. Begin by purchasing or renting a business location where you will sell, cook, and deliver meals. You’ll need machinery, labour, furniture, and other supplies to run the business. After gathering the necessary information, you can proceed with the next steps.
Step 5: Develop your Menu in Advance
Perfect your recipes to ensure consistency in taste and quality, and calculate the cost of each menu item to price them appropriately while maintaining profitability.
Step 6: Choose Supplier
All food businesses require raw materials to produce final products, which manufacturers often supply. Finding a dependable supplier of high-quality food products at an affordable price. The ideal strategy is to undertake extensive research, study the supplier market, and visit several raw food suppliers to determine which one best matches your company’s demands. Besides, choosing local providers can be beneficial.
Step 7: Obtain the Permissions/Licences
Before you begin doing business, Obtaining all the proper licences, certificates, and permits is critical. Having all the necessary documentation before you begin business activities will help you avoid legal complications. Because the food industry is sensitive, businesses that manage everything incorrectly are more likely to face legal action. Thus, acquiring all the appropriate permissions from the Bhutan Agriculture and Food Regulatory Authority (BAFRA) under the Ministry of Agriculture and Forests, the competent authority for “Biosecurity and Food Safety,” is important.
Step 8: Find Employees
Finding competent, dedicated, and honest staff is critical for growing food businesses. You can skip this step if you own a small food business and work alone. Large-scale business owners should look into their contacts and publish job openings to locate suitable staff.
Step 9: Marketing Your Business
Marketing is an important factor in any business. Spreading the word about your new food business is critical to attracting potential clients. Social media has made marketing much easier. Today, every business has an internet presence, which allows them to communicate with customers, inform them about new products and services, solicit feedback, and so on. As a result, it is necessary to build a strong social media presence.
Step 10: Launch and Feedback
Consider conducting a soft opening to test your operations and gather first feedback. Plan and promote a grand opening event to attract customers and generate enthusiasm. Actively seek and respond to client input to improve your offers and services.
Step 11: Compliance and Monitoring
Make sure to follow health and safety guidelines regularly to guarantee that your food is healthy and safe. Keep track of your finances with accounting software or by hiring an accountant. Monitor your company’s performance and continually look for methods to improve.
Conclusion
Bhutan’s rich culinary heritage and growing tourist industry make it fertile ground for a successful food business. By carefully examining the markets, food regulations, and Bhutan’s unique Gross National Happiness Philosophy, aspiring entrepreneurs can create a venture that not only satisfies customers but also contributes to the social and cultural fabric of the kingdom.
