Ten Expert Tips for Edible Business Owners
Selling edibles is a big business in high demand. However, if you are a baking enthusiast or own a small business, you understand the challenges of meeting that demand. A lot goes into operating a successful enterprise, even if that business is limited to custom orders for family and friends. You may be a food lover looking to switch from traditional baked goods to creating new and innovative edibles. It is a niche market that is thriving post-pandemic. Not only can you make some dough, but you can also showcase your talents in a fun and unique way.
How can you capitalize on the edible market trend and turn your passion into cash? What do you need to consider to create a successful edibles business model? Here are ten expert tips to help you turn your culinary dreams into a reality.
Tip 1: Consider Your Motivation
Why do you want to do this? What do you want out of your edible business? Do you want to showcase your culinary abilities? Create new and never-before-seen edible treats? Are you in it strictly for the money? Your answer doesn’t matter. What does matter is that you understand your motivation behind starting or adding edibles to your business model.
Finding your passion and knowing what drives you are the keys to staying motivated when times get tough. Think hard about why you want to break into the edibles market. What would set your edibles apart from the rest? A little self-reflection goes a long way and can help you create a focused business plan.
Tip 2: Do Your Homework
You may be excited about jumping into the edible marketplace. However, do your research. Are other retailers selling edibles? What products do they offer? Do you understand the state and local ordinances that may impact your ability to sell edibles? Before you start or expand your business, it is wise to do some homework. It is never a good idea to enter a new business venture without first examining the viability of your concept.
Tip 3: Choose Your Partners Carefully
If you can start or maintain your business without the financial help of others or capital from investors, that is wonderful! Unfortunately, beginning a new business or adding a branch to an existing business without extra backing can be challenging. Choose your backers wisely if you need to take on partners to absorb some of the costs. Turn to people you trust and always get commitments in writing. Protecting yourself means you are safeguarding your budding edible business.
Tip 4: Consider Expenditures
Starting an edible business is a process. Make the process easier on yourself by preparing a list of expenditures. This list is a good jumping-off point for determining your startup costs and calculating your operational costs once the edible business opens. Things to consider include:
- Materials and ingredients
- Recipe testing
- Rent or property
- Marketing/social media/communications
- Product packaging
- Business software
- Professional costs, such as an accountant or lawyer
- Licensing fees or business formation fees
Tip 5: Making Quality Therapeutic Infusions Efficiently
One of the things that some small business owners do not consider when starting a new endeavor is the time commitment. Owning and maintaining a small business is not a 40-hour-per-week job. Crafting infusions and baking edibles can be a time-consuming and labor-intensive process. Consider investing in the right equipment that makes your job easier and safer.
The LĒVO line of infusion machines can help with your edible making process. The LĒVO II and the LĒVO Lux are patented infusion machines capable of creating artisanal oil infusions suitable for use in the finest edibles. Both infusion machines feature unique dry modes for other fresh garden herbs you may want to add to your edible infusions as well as an activate cycle to ignite the active ingredients in your herb and increase potency.
The LĒVO C is a popular choice for small business owners and culinary experts because it is designed to handle large infusion batches. Its jumbo pod accommodates up to one ounce of dried botanicals. It also features a non-toxic and dishwasher-safe basin that can hold up to 6 cups of oil, butter, honey etc. Utilizing a LĒVO infusion machine for an edible business makes sense. You save time and money creating restaurant-quality infusions that are ideal for making top-tier edibles.
To further help with efficiency when it comes to production, LĒVO created the Gummy Candy Mixer. With this beauty on deck, you can say goodbye to the days of standing over the stove stirring your gummy mix.
Tip 6: Establish Product Quality and Consistency
What sets amazing edibles apart from okay edibles? Quality and consistency. Your customers need to know that they can rely on your product and that you can consistently deliver tasty and therapeutic edibles. Marketing, gimmicks, and innovating flavors may bring customers in, but quality and consistency keep customers coming back.
Thankfully, you always get high-quality results with the LĒVO line of infusion machines. Each machine features precise time and temperature settings, so you can ensure you’re getting consistent results and uniformed infusions every time you use your LĒVO. LĒVO’s line of accessories speak to this, too. With herb block trays and our silicone gummy molds you can be sure your edible creations turn out perfect. We are constantly working to create and launch new and exciting products, like these gummy worm molds, so be sure to follow us on our socials to be alerted of new launches to keep your business on top of the trends!
Tip: 7 Develop a Brand Identity
Who are you? What’s your story? What sets you apart? Part of creating a successful edible business is establishing your brand identity. Customers need to know who you are and what makes your edibles different from the ones already lining store shelves. Your solid motivation, logos, packaging, social media presence, and website design can all help you tell your story and get people interested in your products. Again, consistency is vital. You want a unified look and message throughout all marketing and packaging to form a brand identity.
Remember tip number two and do your homework. You don’t want to duplicate someone else’s design or slogan and run into legal trouble. Additionally, there can be strict guidelines about how edibles are packaged and promoted. Check state and local ordinances for packaging guidelines and restrictions.
Tip 8: Establish a Network
It always helps to have a solid network behind you, a community where you can bounce around ideas and receive feedback. The LĒVO family has you covered there, too. The LĒVO Love Club is a private Facebook group where LĒVO owners can turn for advice, helpful tips, hacks and recipe ideas. As part of the LĒVO infusion family, you automatically have a built-in network of friendly and welcoming support that you can turn to in the LĒVO Love Club.
Tip 9: Hone Your Craft
As you grow your business, hone your craft. Experimenting with new recipes and flavor combinations can be exciting and yield positive results for your edibles business. Everyone sells cookies, brownies, and gummies. Why not infuse some personality into your edible creations? Want some help getting your creative juices flowing? LĒVO has you covered with cookbooks and a large and growing online recipe catalog full of inspiration!
Tip 10: Stay Positive
HRunning a small business is challenging. Through the ups and downs, stay positive. If you choose to embark on your venture, know that you got into the edible business for a reason. Think back to tip number one and remember your motivation. Stay invested, stay creative, and keep at it. It takes time to build a successful brand. When you let your LĒVO infusion machine do the work for you, you have more time to focus on making the most of your edible business venture.
With help from your LĒVO infusion machine and the LĒVO community, you can turn your love of baking and edibles into a wildly popular and successful business. We look forward to seeing your vision come to light!
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The worlds first patented oil infuser that lightly dries herbs fresh from your garden, activates their maximum potency, and infuses them into just about anything. Great for daily, small batch, artisanal infusions.
Experience infüsionwith our most elegant, intelligent machine yet: LĒVO LUX. Artfully infuse any herb, spice, fruit, coffee bean, & more into oils, butters, and honeys to create Michelin Star-quality meals.
LĒVO C is the first large batch infusing solution that is dishwasher safe, has a built-in activation cycle for maximum potency. Perfect for making large 1 liter batches for high frequency users and small businesses.