|
Selling specialty foods
|
 |
January 31, 2000: 3:44 p.m. ET
Streetwise research helps decide if your specialty foods shop will fly
By Jane Applegate
|
New York (CNNfn) - Dear Jane, I want to open a specialty food store in my area. I have a concept, but I don't know where to start.
The specialty food business is very vibrant right now, due in part to
a strong economy when people have money to spend on imported or exotic
food. Your first step is to do some streetwise market research to make
sure there is an interest in what you plan to sell.
Visit the neighborhoods where you think you want to open your store.
Check out the mix of merchants on the block. See if there are any
similar food stores and what they are selling. Speak with business
owners who have been there for years to get a sense of what has worked
and what businesses have come and gone.
Check out the local restaurants to learn what kind of ethnic foods are
popular in the area. Eat in a few and observe the diners. Figure out
if they are younger, older, and/or people with children.
Before you invest time and money in your own store, I highly recommend
getting a part-time job in a store similar to one you want to open.
You want to learn as much as you can about the business.
You will also have to deal with distribution companies and sales reps
who sell imported foods. You may also do some direct importing and
have to deal with customs regulations and complex duty and tax issues.
There is an excellent trade association for your industry. Before you
do anything, contact the National Association for the Specialty Food
Trade (NASFT). Write to them at: 120 Wall St., New York, NY 10005.
|
|
|
|
|
|
ApplegateWay
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
