Food Entrepreneurship (Full-Term)

Food Entrepreneurship covers the basic knowledge necessary to develop a food product, restaurant/food retail businesses, and other miscellaneous food related endeavors from the initial idea through early growth. This course is focused on stage one small business success. We supplement in class learning with notable guests from all areas of the food world. The course is divided into five sections. Section 1 lays the foundation by outlining the challenges of opening and maintaining financial and personal success; and, a discussion of current food trends. We also focus on the the creative process to develop and test ideas and to define and attract the market. Section 2 is an in depth discussion on the restaurant and retail food businesses. This section approach is from new business start perspective. We begin by defining challenges of concept development, branding and operations. Then we discuss financial information and reporting that are unique to these types of food businesses. We instill a general understanding of profit or loss and strategy including industry financial benchmarks. It also covers analytical tools used to ensure success. Section 3 discusses issues of starting a food product business, covering product development, packaging, testing, and an understanding the logistics involved in sourcing ingredients, manufacturing, sales and service. Section 4 covers other food related business both on-line and location based. We discuss relationship based sensory marketing/gastrophysics. Section 5 We summarize labor issues, government regulations and laws current and future. We discuss the development of a second phase expansion strategy. In this section we create a pocket business plan.