Pros and Cons of Starting a Specialty Food Business

The specialty food business can be rewarding and exciting. It can also be a real struggle. Listed below are some pros and cons of starting and running your own specialty food business. The list is intended to provide a realistic picture of specialty food manufacturing. Keep in mind that several of the items listed are qualitative, that is, their importance depends largely on how strongly you feel about them.

Advantages:

  • Being your own boss.
  • Creating your own work environment: hours, flexibility, etc.
  • Doing something in which you believe
  • Reaping the benefits of hard work and long hours directly.
  • Variety, challenges, and opportunities for creativity, full use of knowledge
  • More open earning and growth potential
  • Satisfaction of a successful venture, a product well received
  • Empowerment

Disadvantages:

  • Risk of failure
  • Time Commitment — 60-70 hrs per week is normal
  • Financial strain as assets become tied to business start up and success
  • Strain on family due to financial and lifestyle change
  • Emotional burnout
  • Unavoidable business roles/requirements you’d rather not fill
  • Rejection of your product by consumers