United States

Question:

Hi, I want to start a potato chips factory. Please throw some light on the following:

• How to start this business?
• What are the requirements for starting this business?
• Where can I get potato chips making machine?
• How do I get in touch with distributors?

Answer:

Potato chips is arguably the most consumed snacks in India. In a country where food preferences change with the change of state borders, liking for potato chips has transcended the barrier of borders and has become the personal favorite of all and sundry including diabetics.

It is precisely because of this staggering demand that, lesser known brands have managed to compete with bigger brands and survive in the market. So, starting a potato chip business is risk free and promising in all respects. If you can take care of two aspects i.e. quality and marketing running this business successfully won’t take much of an effort.

What You Need for Starting a Chips Business

Firstly, you need to have a business plan ready. Your plan must take your expenses into consideration. As it usually happens, your outlay may not be sufficient. So it is very important to have additional funding ready so that if your finances fall short your plans don’t get stalled.

 Once this is in place, you are in a better position to launch your business.

An important aspect of this business is to get a complete overview of the competition. This will give you an idea of how to market your product. If you have the same approach as your competitors have, you may not stand to gain much. But knowing their approach can help you devise one that is different and effective. This aspect requires lot of researching. You need to talk to shopkeepers, businessmen and even marketing agencies to gather ideas. All this can help you make up your mind on how to go about marketing your product.

The last hurdle is in finalizing the location of your business. It is advisable not to hire a place. This may prove costly especially if your business fails to take off. Instead, if your business makes a good start, you always have the chance to dream big. However, choosing your home for starting the business may not always be feasible because it is subject to clearance of license and permits from the government.

Choosing the right technique to prepare the chips can help you distinguish your products from your competitors. You need to take the views of chefs to know exactly how you can come out with a product that tastes good and may be at a lesser cost. This is a crucial part of the business as taste is what ultimately matters in the market. Well known brands have managed to carve out a space in the market not just because of their marketing strategies but also because of the flavor that they add to their products. You need to decide how to make your product tastier and this may require a lot of permutation and combination. Give importance to local tastes so that you can get a foothold in the local market. It is safe to launch three or more flavors as it would help you know how the market reacts to your products.  No sooner than a particular flavor clicks you get an idea on how to steer your business.

Few more tips for newcomers in this field:

Keep low profit margins in the beginning. Instead, allow the retailer to make most of the profit. This strategy would make retailers go out of their way to push your product in the market.

Starting a potato chips business calls for lot of market research. If you do your home work well there is no reason as to why you shouldn’t succeed in this business.

What does concierge business mean?

Concierge and entrepreneur are the kind of words that make you wonder and get slightly confused on their meaning. You may ask that what are these people doing what I cannot handle. As for the concierge, what we are discussing today, although not entirely different from being an entrepreneur, you need to have all the great qualities of an assistant, preferably personal assistant. You might have met these people during the reading of a story, the Italian “Consigliere” that was Tom Hagen in the movie, is closest as it can get to the exact meaning to the job. A good concierge knows everything and deals with everything what is coming up. This includes all the personal services that a rich man or a family would need. The concierge is not the person who cleans or does this or that, but he/she ensures to get the best staff and expect the best from others too. Of course, the perfect concierge is also personally able to do many things, even if he/she does not need to do, but in case of any upcoming emergency, he/she makes sure everything is dealt with, if needed, personally.

Therefore, what you need to be a concierge:

• You need all the knowledge of an assistant
• You need to be familiar with event organizing
• Travel organizing skills are preferred too
• You must have a fluid personality, self confidence and to be prepared for anything
• You must bear stress and have quick problem solving skills
• The good flavour and knowledge in food, dress codes, etiquette is a must
• Flexibility
• Discretion

Here are the steps for those who wish to think about how to start a personal concierge business:

Instructions:

• You can be a short-term and a long-haul concierge as well. You need to sort out what you want and which type you would prefer. Short-term can also be a concierge service for tourists. That is why that there is a concierge service in most hotels, even though sometimes tourists have no ideas at all.
• It is all the best if you have any experience and studies in the assistance field. It has key importance in the concierge business, that you know exactly what a personal assistant has to do, or should do.
• There are concierge schools as well, with the applicable licence, but the licence can be applied for, without any special studies.
• You will need your own website, a laptop and a cell phone. Overall, you will need a small, simple yet elegant office equipped with the must-haves: PC, printer, scanner, phone, fax, a table with 4 chairs and that is it briefly.
• You will need to ask for information on how to get registration as an office. You can also combine your services with event planning, travel organizing and renting out assistants.
• You will need to make a business plan and set up your pricelist for each or complex services.
• In case you are dealing with multiple services, you will need to hire an assistant eventually, make a business plan and set up your goals.
• You can start to build out your network of contact in the required fields.
• You will need some marketing, quality business cards, company logo, papers and envelopes with your logo.
• You will need to find yourself a good accountant and you must be prepared for making the basic administrative preparations and storage place for the invoices and additional paperwork to be collected chronologically.

These are the main things to do in order to set up a successful concierge business. Eventually, you will become known and successful, as this sort of service is still rare in good quality, so it is a great chance to bring out the best of you.

Wish to know how to augment your income with $50,000 in hand?

There are quite a few ways to go about. Starting a promising business is not bad, provided you have an aptitude for it. If you are averse to collecting monthly interest and instead would want to see your money grow by leaps and bounds, you can go for either of these following options.

• Stock market can be a good option if you are willing to take risks. All you need is a bit of financial acumen. The safest way out is to create a portfolio. Invest certain amount in slow moving bonds, a part of it into futures and commodities, and remaining into the unpredictable market. If you can somewhat anticipate when the stocks would tumble, you can swim against the odds comfortably.
• Internet business is another good option. If you are net savvy, you can come across multitude of businesses possibilities. You start and propagate your business on the net and get prospective clients on the net. No investment costs whatsoever and no running around or aggressive field marketing. Given the low cost of maintenance, wide reach and high returns, a stable internet based business can arguably be the easiest way out. Which business to start with, is something, which you can learn from the net. Search engine optimization, online marketing strategies like maintaining customer relationships, content churning are some good options. Surf the net for many more such ideas.
• Real estate can also be a wonderful option. Buy a property in an upcoming area within your range and sell it off as demand rises. You can make a lump sum effortlessly. Finding the right property in the right area matters the most. Again, you need to bring your discretion into play. However, to take home the returns, you need to bide your time. The wait, however, is worth it.

If nothing but a shop interests you the most, go for a franchise business. Having an outlet of McDonald’s, KFC or Dunkin Donuts can be a good way to launch yourself, in a hassle free business. With a franchisee business you don’t have to start from scratch. Moreover you are protected from failures as you, at all times, will be propped up by the parent company.

Though these are some the businesses that you may consider choosing, there are many available options. What you decide to take up should be based on your liking, aptitude, knowledge and physical ability. The final is yours!

Bicycles are making a huge comeback. In countries like Norway, it has once again become the main means of transport. Given the rising costs of gas and impending scarcity, most countries have realized that falling back on this mode of transport can be hugely beneficial both to the economy and the environment. With bicycle all set to take over from other means of transport it is time you contemplate starting a bicycle repair business of your own.

Like the simplicity of a bicycle, a bicycle repair shop requires simple tools and a small working space. Investing in all of these would cost you almost nothing. Learning how to repair a cycle is no rocket science. All that it requires is a passion for biking and keen interest in watching and learning.

But, How to get in To This Business?

• However, to get started, it is advisable to gather some good knowledge about the subject.
• Joining a tech training school can be very helpful. If there isn’t such school nearby, you can always get to teach yourself. A technical manual can be your best teacher. It serves as a quick reference – something on which you can fall back upon every now and then.
• Reading about bike repair in the web can also be very helpful. After picking up the basics, you can get down to the technical aspect. This can give you some hands on experience in bike training.
• Start with your own bike. Dismember it to the bearings. Then put it back together. Once done, take a ride to see if it’s okay. If it is, you have cleared out the first round. It is only after many such rounds of rejoining, that you can master the concept behind a bicycle.

What all You need?

• Before you get down to this, keeping some basic tools ready can prove handy.
• Some of the tools include…
  • Good tire pump
  • Tire spoons
  • Wrenches
  • Pressure gauge
  • Chain breaker tool
  • Spoke wrench
  • Screw drivers
  • Allen keys
  • Wire cutters
  • Adjustable pliers, etc.

But remember, as you get on to the job you would need a lot more.

Now, How to Attract Customers?

• Once you learn the trick, its good if you repair a few cycles for no cost or may be at a far lesser cost. This can benefit you in two ways. Firstly, it provides you with the chance to hone your skills with less accountability.
• Secondly, there can’t be a better way to market your new business. Once you become more proficient, and win the trust of your customers it’s your call all the way.

As far as finance is required, I think this business does not require hefty investment, you can do savings from your job for about 10-12 months and start this business.

Marketing is crucial to every business. In today’s world of cut throat competition the importance of marketing is increasing by leaps and bounds. However, marketing needs a well defined strategy. Mere marketing for the sake of marketing can hardly translate into sales. The best approach is to keep your marketing strategy simple. Simple marketing can be effective and less expensive. By keeping it simple you get a proper idea of whether or not you are heading in the right direction.

Having customers in local areas is of great importance to any business. It helps you build trust from the block level, and at the same time ensures you have steady source of loyal buyers. To start with, you need to focus on networking. Hooking up with schools, government agencies, major employers, churches and social organizations can help you get a firm footing in the market. Go the whole hog to ensure that your association is beneficial to every local level establishment. To stay ahead in the competition, back up your marketing strategy with quality, accountability, discipline, etc.

Given below are few simple ways to create awareness about your business

Hand shake and business card: There is no substitute to meeting people in person and talking to them about your business. Talk about how they would stand to gain from your business than about what you have to offer. Leave a card behind to remind them about your business in your absence. Meet as many people as you can. Even if a fraction of people turn into customers, by the end of the year you will have a substantial number of loyal buyers. Handbills do help, but they only elicit a casual or passing interest and can in no way replace personal meetings. However, handbills issued every now and then, can be a good way to reinforce your publicity stints.

Support Fundraisers: Fund raising programs can provide you an ideal platform to promote your business. You not only associate yourself with a cause, but subtly carry your advertisement out. For instance, you can get some signboards set up on behalf of the local body area, requesting people not to litter the area, with the name of your agency below. If you are into T-shirt business, and promoting the cause of the pernicious effects of smoking, you can print a few hundred of such shirts and distribute it to college students, in a sport meet, or any other college function. Initiating a cause, like collecting books for the under privileged, with you playing the lead role can also be a good attention catching move.

Special Offers: Special discount sales have their place of importance in public mind. Two in one offers or lucky draw lottery can arrest the interest of customers and draw them like a moth towards a candle.

The above mentioned strategies are easy to initiate, can be quickly planned, are result yielding and cost little. Instead of pouring dollars into media advertisements, you can drive sales using your own product as the incentive and have complete control over developments. .

Getting people to know about your business is arguably the most crucial part of your business. The market is teeming with businesses like yours. So, reaching out to people and informing them about your identity matters the most. But just reaching out to create awareness is not enough. Given the stiff competition around, you can’t afford to slacken up your efforts. You have to reach out to people at all hours, and with ideas that are both inspiring and innovative.

How can you make people differentiate your business from the rest?

The answer is branding. Branding lends a distinct identity to your business. People tend to identify brands with solution and good feelings. With a brand, your business gets a face and personality that facilitates interaction with consumers. If marketing is all about telling stories, your brand will ensure that your story spreads fast, and it spreads far and wide.

The next important aspect of creating awareness is the way you communicate. Communication again has two crucial ways to it. When you say something, make sure you mean what you say. Secondly, ensure that your message is warm and couched with care. Sell, but don’t sell aggressively. If you are communicating just to sell, make sure you sell subtly. An emotive aspect to selling can go a long way to build trust.

Choosing the right platform to sell your business plays also plays a very important role in spreading awareness. In today’s world, when it comes to choosing a marketing platform, you are spoilt for choice. The best option for you is to choose a platform that spreads your message fast and comes at an affordable price. Social media is one such platform that offers both these advantages. When you start off from this platform, you get to interact with consumers, which in turn provide you a chance to build a community – one which keeps growing with time. When you have a big band of trusted followers your message spreads like jungle fire.

What about direct marketing? Can you do away with it? Direct marketing has been the standard way of popularizing a business since ages. Even in today’s world of online marketing, field marketing has a very important role to play. However, your approach should be off the tangent. The days of aggressive marketing are a thing of the past. Today field marketing entails creating awareness through community programs. For instance, if you are into trendy T-shirt business, your off field marketing strategy should involve serving the community with T-shirts carrying your brand. You distribute T- shirts printed with your logo to municipal workers in charge of street maintenance. It should carry a catchy message on it, to draw people’s attention. You need to change your strategy from time to time, so that people get to know about your business on and off.

Getting people to know your business calls for some out of the box strategies. It takes time to create awareness, but once your brand gets well known, you just have to have to sit back and reap the benefits.

If your business isn’t on social media, then you are well behind in the race. As the saying goes, it’s never late to make a beginning it’s time you get along with the trend lest you are find it impossible to catch up. Let’s consider a few facts to drive home the point. A new survey on the popularity of social media has come out with some startling facts. I would rather call it some tell tale or enlightening facts. Nearly 65% of adults in the US are addicted to social media. About 80% of them solicit views on social media platforms on what to buy. Almost half of them are favorably disposed towards companies which are active on social media. Given these facts, do you think it is possible to get a firm foothold in today’s competitive market, without getting your business onto social media?

All said and done, being on social media platforms like Facebook, Myspace, You Tube and Twitter helps to improve the way consumers view your company. You can reach out to huge number of people at the same time at any hour of the day. Wouldn’t that be beneficial to your business? And to cap it all, this comes at no cost at all.

With a social media presence, your business gets a voice to communicate with consumers. With proper marketing methods you can spread your message far and wide and make your presence felt. Social media provides your business the opportunity to personalizes itself, and be in touch with all those who matter in an interactive and relaxed way. While on the one hand you can inform instantly, on the other hand you get a chance to address grievances immediately. What a distressed consumer looks forward to is an earnest and quick reassurance. The sooner it comes, the better. With social media you can address complaints and remove misgivings in a jiffy.

What consumers are looking for is a company with an identity. Social media can lend you the much needed “real” appearance which can distinguish you from the rest. You can transform your business identity into a personality and speak to them in their language. To sum it up, social media helps you build relationship with people. Once a relationship is built you get a perfect chance to build a rapport and win people’s trust. With trust on your side, half the battle is won.