3 Reasons Why You Could Be a Food and Hospitality "Preneur" Now
Entrepreneur's New Year’s Guide
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Today, entrepreneurship has got everything to do with offering solutions to all sorts of problems Indians face; it is just not restricted to creating new technology and technical aspects. In fact, one sector which today has been grabbing the right eyeballs with respect to offering enormous opportunities for entrepreneur s(and for smart solutions) has been the food and hospitality sector.
In this regard, if you are a budding entrepreneur, the food and hospitality industry is potentially a choice to consider considering the fact that your entrepreneurial creativity could be explored and showcased to the hilt.
Freedom to experiment is at a high
Now, whenever there is a discussion on food, there is a myth that it has got to do everything with culinary skills and cooking. Food also include varied aspects viz food delivery, management of food businesses, hospitality, and even services.
“We ourselves would like to function like a start-up as we realize that the potential is a lot larger than what we get to see,” states Mithun Appaiah who is CEO at Innovative Food Limited.
Now, the key takeaway here is that the startup environment is potentially conducive to and inclusive of the food industry. In this scenario, Indians have gotten to witness even celebrities like Sanjeev Kapoor start own channels to promote varied culinary and showcase new recipes which are healthy for both the mind and the wallet.
“Just like the way you would communicate with your friend at any time of the day, and all this without having to install a new app,” adds Abhishek Moharana who is Co-Founder at Bengaluru-based Trilyo that offers B2B solutions by working with hotels and restaurants.
This statement also serves as an outline indicator to the inherent potential for experimentation as far as smart entrepreneurs developing mart solutions for the food industry (comprising hospitality as well) is concerned.
When you are a food and hospitality entrepreneur, another leverage you get is the right introspection potential. You could actively decide on why your solutions are not doing as good as they were supposed to and redesign strategies in a comparatively more real-time environment when other industries (and verticals) are taken into consideration.
“In Lucknow, when we started off, our store was not doing very well. Initially, we were serving them the products that were popular in Mumbai. Eventually, we realized that people there don’t’ like our biriyani. To correct this, we hired a local chef who understands the local taste. And, it clicked for us,” shares Kayum Dhanani who is Managing Director at Barbeque Nation Hospitality.
Dhanani’s experience was curated with real-time feedback that becomes relatively easier to collect as far as food is concerned. This task becomes simpler if you have technology-driven mechanisms viz Predictive Analytics in place and as drivers of your models.
Opportunity to be the quintessential cultural blender
If you are desirous of running entrepreneurial models in food, then there is this opportunity to be a cultural facilitator; you could create recipes having a blend of both Indian as well as overseas elements/ingredients and take newer tastes to various borders.
This should work in your favor considering the fact that elements such as pizzas, burgers, and more have been accepted in India even though these offer very little value. Here is where your quintessentially blended recipes which actually offer both value for money and health could come to picture; thereby garnering respect for your entrepreneurial models.