Are you thinking about starting your own takoyaki business? Takoyaki is such a popular snack, so opening your own business can be an exciting and rewarding venture. A takoyaki business may seem simple to start, but there are many factors that you need to consider if you want to make it successful.
Here are some tips to help you get started:
1. Research the Market
Before diving into a new business venture, it’s important to understand the potential market for your product. Your research would help you understand the needs and wants of your target market, identify potential customers, analyze competitors in the industry, and develop strategies to reach customers. It also helps you set pricing and product branding.
You’ll need to decide on the type of takoyaki you want to offer. Typically, takoyaki is a flour-based dough ball filled with octopus, vegetables, and other ingredients. But now, many businesses are getting as creative as they can. There’s even a giant takoyaki that became a big hit. You may have to do some trial and error to come up with your own signature takoyaki taste and flavor. As Maricar Reyes advised food entrepreneurs, turn a simple product into the best one.
Business and financial coach Chinkee Tan suggests putting the convenience of the customers’ needs first when choosing a location. It’s simple to launch a home-based business and cut costs, but it might not be a good idea if your location is not easily accessible. People can buy from you online, but it must be delivered, which takes time. Customers might prefer to just buy from the most convenient takoyaki brand since there are so many of them all over the place. Unless, of course, you offer something truly unique that no one else can. Chinkee suggested, “Sa panahon ngayon, marami ng choices. At the end of the day, kailangan masarap at mabilis ang serbisyo. People buy convenience.” [Nowadays, there are so many choices. What matters is that your product is delicious and your service is fast.]
4. Purchase the necessary equipment
You will need to buy at least one takoyaki pan and a griddle, as well as other smaller items such as spatulas, ladles, and serving trays. Additionally, you’ll need to source ingredients such as octopus, vegetables, flour-based dough balls, takoyaki sauce, or seasoning mix. All of these items can be purchased online or from local retailers. When purchasing these items, you have to keep in mind how these expenses will affect your profit and pricing. You have to be wise but also not compromise the quality of your product.
When everything is set up, all that’s left to do is market your business well. Starting a takoyaki business can be very profitable if you work hard and are dedicated. A couple who started a takoyaki business said they earn P170,000 a month from their 11 stalls.
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