4 Steps These Business Owners Took to Solve a Major Industry Problem These entrepreneurs created a business that helps people run their food ventures.
Artisan chefs have so many opportunities. The specialty food market is worth an estimated $109 billion, growing nearly 22 percent between 2012 and 2014. Whole Foods, Kroger and other national retailers are hungry for the next tasty thing. And yet, few small businesses have the funds to build out their own, fully permitted commercial space -- and they can't go far in cramped, unlicensed home kitchens.
When Mott Smith and Brian Albert realized this, they knew they could create a great business solution. Their company, L.A. Prep, now rents kitchen space for an average of $3,000 a month and provides around-the-clock security, an office space and even an on-site USDA office. This is how two 'treps solved a lot of their peers' problems.