fabjob guide to become a gourmet food store ownerfabjob.com/sample/gourmet food...
TRANSCRIPT
![Page 1: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/1.jpg)
Open your own gourmet or organic food store!
Julie Moran
FabJob Guide to
Become a Gourmet Food Store Owner
Visit www.FabJob.com
![Page 2: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/2.jpg)
ContentsAbout the Author .............................................................................9
Acknowledgements .........................................................................9
1. Introduction ..........................................................................................11
1.1 A Growth Industry .......................................................................12
1.2 Owning a Gourmet Food Business ............................................15
1.3 BenefitsofBeingaGourmetFoodStoreOwner ......................18
1.4 Inside This Guide .........................................................................21
2. GettingReady ......................................................................................23
2.1 Skills and Knowledge You Will Need .......................................23
2.1.1 Are You a “Foodie”? ...........................................................24
2.1.2 People Skills .........................................................................25
2.1.3 Retail Management Skills ..................................................28
2.1.4 Business Skills .....................................................................30
2.2 Gaining Valuable Experience ......................................................33
2.2.1 Work in a Gourmet Food Store .........................................34
2.2.2 Talk to Gourmet Food Store Owners ...............................35
2.2.3 Be Your Own “Mystery Shopper”....................................37
2.2.4 Join an Association .............................................................42
2.3 Educational Programs .................................................................44
2.3.1 Business Courses ................................................................45
2.3.2 Culinary Courses ................................................................48
2.4 ResourcesforSelf-Study ..............................................................48
2.4.1 Trade Shows ........................................................................48
2.4.2 Websites ...............................................................................49
2.4.3 Magazines ............................................................................52
2.4.4 Books ....................................................................................53
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 2
![Page 3: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/3.jpg)
3. StartingYourGourmetFoodStore ..................................................55
3.1 Choosing Your Niche ...................................................................56
3.1.1 Gourmet “Generalist” Food Stores ..................................57
3.1.2 Discount Gourmet Food Stores ........................................58
3.1.3 Organic and Natural Gourmet Food Store .....................58
3.1.4 Specialty Gourmet Food Store .........................................58
3.1.5 Fresh Gourmet Meal Preparation Stores .........................59
3.2 OptionsforStartingaGourmetFoodStore ..............................59
3.2.1 Buying an Established Store..............................................60
3.2.2 Franchising ..........................................................................67
3.2.3 Opening a New Gourmet Food Store ..............................73
3.3 Choosing a Store Name ...............................................................73
3.4 Your Business Plan .......................................................................75
3.4.1 What To Include In a Business Plan .................................77
3.4.2 Start-UpFinancialPlanning ..............................................83
3.4.3 A Sample Business Plan .....................................................93
3.4.4 Business Plan Resources ..................................................110
3.5 Start-UpFinancing .....................................................................111
3.5.1 GettingPrepared ...............................................................111
3.5.2 Equity vs. Debt Financing ...............................................113
3.5.3 Borrowing Money .............................................................114
3.5.4 Finding Investors ..............................................................117
3.5.5 Government Programs ....................................................119
3.6 LegalMatters ..............................................................................121
3.6.1 Your Business Legal Structure ........................................121
3.6.2 Business Licenses ..............................................................127
3.6.3 Taxes ...................................................................................130
3.6.4 Insurance ............................................................................134
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 3
![Page 4: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/4.jpg)
4. SettingupYourRetailStore ............................................................137
4.1 Finding a Location ......................................................................137
4.1.1 Possible Locations .............................................................138
4.1.2 Points to Consider ............................................................144
4.1.3 Signing Your Lease ...........................................................151
4.2 Store Design ................................................................................159
4.2.1 Outside the Store ..............................................................160
4.2.2 Inside the Store..................................................................162
4.2.3 Store Security ....................................................................166
4.3 Displaying Merchandise ...........................................................168
4.3.1 Where to Get Display Fixtures .......................................169
4.3.2 Maximizing Sales ..............................................................169
4.3.3 Creating Window Displays .............................................171
4.4 Retail Equipment and Supplies ................................................175
4.4.1 Items You’ll Need .............................................................175
4.4.2 Suppliers ............................................................................181
4.5 Obtaining Your Inventory .........................................................182
4.5.1 Wholesalers and Distributors .........................................183
4.5.2 Prices and Terms ...............................................................184
5. RunningYourBusiness ....................................................................187
5.1 Store Operations .........................................................................187
5.1.1 Developing a Procedures Manual ..................................188
5.1.2 AreasofOperationsChecklists ......................................190
5.1.3 SettingHoursandPolicies ...............................................192
5.2 Inventory Management .............................................................193
5.2.1 InventorySoftware ...........................................................193
5.2.2 Inventory Tags and Labels ..............................................197
5.2.3 Taking Inventory ...............................................................198
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 4
![Page 5: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/5.jpg)
5.3 Pricing Merchandise ..................................................................201
5.3.1 Guidelines ..........................................................................201
5.3.2 Retail Pricing Formulas ...................................................203
5.3.3 ProfitMarginvs.PercentageMarkup............................204
5.3.4 Standard Markups ............................................................206
5.4.GettingPaid ..................................................................................211
5.4.1 Accepting Debit Cards .....................................................211
5.4.2 Accepting Credit Cards ...................................................212
5.4.3 Accepting Payment Online .............................................213
5.4.4 Accepting Checks .............................................................214
5.4.5 HandlingCash ..................................................................214
5.5 Financial Management ..............................................................216
5.5.1 Bookkeeping ......................................................................216
5.5.2 Financial Statements and Reports ..................................217
5.5.3 Building Wealth ................................................................226
5.6 Employees ...................................................................................229
5.6.1 Employees versus Contractors .......................................230
5.6.2 BeforeYouHire .................................................................232
5.6.3 RecruitingStaff.................................................................236
5.6.4 TheHiringProcess ...........................................................239
5.6.5 New Employees ................................................................243
6. GettingandKeepingCustomers ....................................................247
6.1 Marketing Tools ..........................................................................248
6.1.1 Printed Materials ..............................................................248
6.1.2 Your Website ......................................................................254
6.1.3 Social Media .....................................................................261
6.2 Marketing Techniques ...............................................................265
6.2.1 Advertising ........................................................................266
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 5
![Page 6: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/6.jpg)
6.2.2 Free Publicity .....................................................................271
6.2.3 Networking .......................................................................275
6.2.4 Gourmet Cooking Classes ...............................................283
6.3 Customer Service ........................................................................286
6.3.1 Greeting Customers .........................................................286
6.3.2 Making the Sale .................................................................288
6.3.3 Return/Exchange Policy ...................................................290
6.3.4 GettingRepeatBusiness ..................................................291
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 6
![Page 7: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/7.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 7
1. IntroductionYou’relikelyreadingthisbookbecauseyouhaveapassionforfinefoodand want to turn that passion into a new and exciting career. Chances are,you’reanimpassioned“foodie”withagreatappreciationforandknowledgeofgourmetfood.Foodforyouisoneofthegreatpleasuresoflife—notjustameansofnourishment,butawondrouspartofthejourney.
YourideaofaperfectdayinNewYorkCitymightbetospenditbrowsingthefineimportedcheeses,meats,spices,andotherhard-to-finditemsliningtheshelvesatDean&DeLuca.Perhapsyoupreferthe top quality appetizers, smoked salmon, and other specialties at the 4thgenerationRuss&Daughters,ortheuniqueGreciansweets,bakedgoods, body care and other specialties sold at Mastihashop. Maybe you’drathertakeinaprofessionallyguidedtouroftheBigApple’sgastronomic wonders.
![Page 8: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/8.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 8
AgreatdayinParisforafoodloverlikeyoumightinvolvewindingyour way slowly around the Place de La Madeleine, sampling the array ofdelightsofferedatthepicturesquefooddepartmentstores,suchasFauchonandHediard,orthesmallgourmetboutiques,likeLaMaisondeTruffeortheMarquisedeSevignychocolateshop.
Ormaybeyourpassion is forhigh-qualityorganicandnaturalfoods.Perhapsyoufeelthat,inaneraofprocessedandfastfood,weshouldreturntooursimplerroots,makingtheprocessofgrowingandharvesting,aswellaspurchasingandconsumingfoods,amorewholesome and personal one.
Nowimagineyourselfinashopinthecityyoulivein,thecasesandshelvesfilledwithenticingrowsofgourmetorspecialtyfoods,eachhand-selectedbyyouforitssuperiorquality,taste,andexcellence.Imaginesharingyourpassionforfinefoodwithothers,recommendingproducts to them, exchanging new and exciting ideas, making your customers’livesalittlericherandsweeter.Ifthisvisioniswhatyoudreamofdoing,congratulationsontakingthisfirststep.Withhardworkandcarefulplanning,thatvisioncanbecomeareality,andoverthe next several chapters, we will show you how.
Inthischapter,youwilllearnaboutthedifferenttypesofgourmetfoodstoresyoucanopen,whyit’sagoodtimetostartthistypeofbusiness,thebenefitsofowningyourowngourmetfoodstore,andwhatyouwilllearninthechaptersthatfollow.
1.1 AGrowthIndustryGourmetandspecialtyfoodsalesareaboomingbusinessinNorthAmerica.InbothCanadaandtheU.S.,thegourmetandspecialtyfoodindustryisgrowingatamuchfasterratethanthefoodindustryoverall,with annual growth in the double digits every year over the last ten years.
AccordingtoindependentresearchfirmPackagedFacts,annualsalesofgourmetandspecialtyfoodsintheU.S.hadreached$59billionin2007—upmorethan50%from$39billionin1998.Ofthis,$20billionwasderivedfromsalesingourmetandspecialtyfoodstoresalone.ThecompoundgrowthratefortheU.S.gourmetandspecialtyfoodindustry
![Page 9: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/9.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 9
from2003-2007wasawhopping11.1%ayear,andthisupwardtrendhas continued.
In a 2017 press release, Specialty Food notes:
Thespecialtyfoodindustrycontinuestogrowatastrongclip.Dollarsaleshit$127billion,a15percentjumpintotalsalesbetween2014and2016...Bycomparison,allfoodsalesatretailgrewbyananemic2.3percent...Specialtyfoodsareoutpacingtheirnon-specialtycounterpartsinalmosteverycategory,asconsumerscontinuetobecomemoreawareofqualityintheirfoodchoices.Categoriesalignedwithbetter-foryouoptions,healthandwellness,andfreshnessaregrowingfastest.
InCanada,accordingtoIbisWorld,salesatspecialtyfoodstoresgrewatanaveragerateof4.6%over2012-2017,withcurrentsalesof$3billionper year generated by over 6,700 businesses employing almost 23,000 people.AndaccordingtotheOrganicTradeAssociationofCanada,the“valueoftheCanadianorganicfoodmarkethastripledsince2006,faroutpacingthegrowthrateofotheragri-foodsectors.Adiverseconsumerbaseisdrivingthesector,with58%ofallCanadiansbuyingorganic products every week.”
Thereareseveralreasonsforthisexplosivegrowth.Overthepastsixtyyears,Americans’interestinexoticandforeigncuisineshasgrowndramatically, as has an interest in health and wellness, including the importanceofwholesomefoodsandsoundnutrition.Thesefactors,combined with the rise in discretionary income, allows more people toaffordfoodsthathaveagreaternutritionalvalueandthosethatsatisfytheirincreasinglysophisticatedpalates.Moreover,bothCanadaandtheU.S.haveexperiencedsignificantrecentpopulationchangesand growth due to immigration, which has helped introduce and popularizemanyspecialtyfoods,aswellasincreasedthedemandforthese products. Although these are not new trends, recent industry research indicates they have begun to accelerate in recent years.
![Page 10: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/10.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 10
HistoricMilestonesintheGourmetFoodIndustry
TheU.S.gourmetretailfoodindustrydevelopedoutofavarietyofinfluences.AfterWorldWarII,returningsoldiersbecameinterestedinobtainingforeignfoodstheyhadsampledwhileoverseas.Thepost-wareconomywasbooming,allowingpeopletoaffordtheimportedfoodsthatbegantoappearongrocerystore shelves.
Inthe1960s,increasedtourismtoforeigncountriesfurtherfueledAmericans’interestinthecuisinesofothercultures.Massproductionandbetterdistributionmethodsalsobegantoallowagreatervarietyoffoodstobecomeavailableacrossthecountry,includingfoodspreviouslylimitedtocertainregionsoravailableonly during limited growing seasons. Immigration also helped introducefoodsfromothercountriesbymeansofthespecialtygrocery stores that sprang up to serve immigrant populations.
Asmorepeoplebegantotrythesefoods,theirpopularityspread.
Overtheyears,otherinfluencestookhold.Americansbeganworkinglongerhoursandmorewomenjoinedtheworkforce,whichledtoanincreaseddemandforconveniencefoods.TheinventionofthemicrowaveovenimpactedhowAmericanseat,asdidtherapidgrowthofthefastfoodindustry.Inresponsetotheriseinfastfoodandhighlyprocessedfoodswithadditivesandartificialingredientsthatallowedforalongershelflife,Americans have recently become interested in healthier eating, creatingalargedemandfornatural,organic,andunprocessedfoods, includinghealthyconveniencefoods.ThesevariouschangesandinfluenceshavepermanentlyalteredtheAmericanfoodcultureandlandscape.
“It’s a good time for this sort of business. The US consumer has become far more educated, sophisticated, and choosy. The days of truck-driver coffee, industrial produce, flavorless mass-market bread, and bland chemical cheeses are over — and many consumers are willing to pay for the good stuff.”
— ShelHorowitzofFrugalMarketing, marketingexpertandauthorofsevenbooks
![Page 11: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/11.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 11
1.2 OwningaGourmetFoodBusinessAsuccessfulgourmetfoodbusinessisafull-timebutexcitingventure.Yourdayswillbelongandbusy,andyouwillneedtojugglemany differenttasks.Youwillalsoneedtoputinaconsiderableamountoftimeinadditiontothehoursyourstoreisopen.Becauseofthesedemands,it’simportantthatyouareenergetic,detail-oriented,andphysicallyandemotionallypreparedforthejob.Althoughyouwilllikely have at least one employee (and perhaps several, depending on your store) to help you, you will still need to oversee and keep a close eyeonallaspectsofyourbusiness.
Planonspendingatleasthalfofyourdayonthesalesfloordealingwith customers, especially during peak sales times. This is a crucial waytogainvaluableinformationaboutwhatcustomerswant(anddon’twant),whichwillhelpyoumakebetterpurchasingdecisionsandrespondfastertoclients’changingtastes.
ATypicalDay
BeforeYouOpenA typical day varies somewhat depending on the store, but in most cases,willbeginwitharoutinemuchlikethefollowing:
• opening up the store
•turningthesecuritysystemoff
• turning the lights and computer systems on
•checkingthatanyrefrigeratedequipmentisproperlyoperating
• checking the employee schedule
•checkingyourdailycalendarforanyspecialappointmentsormeetingsforthatday
• checking your voicemail and email
•gettingchangeandsettingupcashregisters
•settingthestoretemperatureandputtingonthemusicsystem
![Page 12: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/12.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 12
•makinganybankdepositsfromthedaybefore
•holdinganynecessarystaffmeetingsfortheday
• checking that the store is neat, clean and well stocked
Ifyou’resellingpreparedfoodstogo,you’llalsoneedtosetupthefoodpreparationstationsand/orcheckthefoodspreparedthedaybefore.
DuringStoreHoursDuring store operations, you and your employees will need to:
•receiveandcheckdeliveriesofmerchandiseand/orsupplies
• greet customers and assist them with their purchases
• ring up purchases
• handle problems and returns
• answer the phones
• deal with employees’ concerns
• place merchandise or supply orders as needed
•makesureshelves,sellingflooranddisplaycasesareinorderandwell-stockedthroughouttheday
•checkonstaffregularly tomakesureoperationsaregoingsmoothly
Ifyou’reofferingfoodstogo,checkthekitchen,kitchenstaffandequipmentfortimelyproduction,cleanliness,properfoodhandlingandstorage,andfoodwaste.
AfterClosingAttheendoftheday,youwillneedto:
• gather sales and merchandise data and statistics
• close out the cash registers
![Page 13: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/13.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 13
•tallytheday’sreceiptsandplacetheminasafeordepositthematthe bank
• check stock inventory and receipts
• clean and straighten the store
•checkorrearrangeshelfandwindowdisplays
• complete paperwork and correspondence
• review the employee schedule
•makemanagementnotesforthenextday
•checkthatallequipmentisproperlycleanedandshutoff
•checkthatthelightsareturnedoff,andthesecuritysystemisonbeforeleaving
Other periodic responsibilities include paying taxes and bills, dealing withpromotionandadvertising,keepingabreastofnewproductsandother innovations in the industry, negotiating with suppliers, keeping licensescurrent,andattendingtradeshows.
Becauseyouwillbejugglingalotofimportantresponsibilities,it’sagoodideatomakeadailychecklisttofollow,aswellasaweekly,monthly,andseasonalchecklist,asneeded,tobesureyoudon’tforgetany important steps. We’ll show you how to set up a store procedures manual in Chapter 5, “Running Your Business”.
TheRetailEnvironment
Generallyspeaking,yourworkingenvironmentwillbeclean,well-lit,andcomfortable.Exceptforfranchisebusinesses(whichwe’lldiscussin more detail in Chapter 3), the store’s environment and design will belargelyyourowncreation.Thethemeorfeelofthestoremayrangefromwarmandcozyorbrightandcheerful,toclassicandstylish,depending on your store’s concept and design. Although we’ll also discusslateronhowtochoosethesizeofyourstoreanditslocation,yourbusinessmaybelocatedinavarietyofvenues,fromashoppingmalltoastand-alonelocation.
![Page 14: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/14.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 14
Dependingonthesizeofyourstore,youmayneedonlyoneortwoemployeesorseveral.Youwillbespendingalotoftimedealingwithyourcustomersandstaff,soit’simportantthatyouenjoyworkingwithpeopleandarepatientandcourteous.Youwillalsobeonyourfeetafairamountduringthedaydealingwithavarietyoftasks,whichwillrequireplentyofenergy,patience,andcourtesy.
“It is fun and a happy environment…I love working with clients to create a gift they feel excited to give or send to someone.”
— LauraWeiss,Dolce
ServicestoOffer
Successinthegourmetfoodstorebusinessdependsuponofferingproductsyourcustomerswantthattheycan’treadilyfindattheirlocalsupermarketorgrocerystore,inadditiontotop-notchcustomerserviceandasatisfyingshoppingexperience.Whileexpertsintheindustryagree that specialty stores can no longer remain competitive with large supermarketsandgrocerystoressimplybyofferingsuperiorcustomerservice alone, great customer service is nevertheless essential to gaining and keeping customers.
Onekeywaytostaycompetitiveistostayabreastofnewtrendsandproductsinthegourmetfoodindustrythatrelatetoyourbusiness.We’llprovidesuggestionsonhowtodothislateron,butfornow,keepthisinmindasanessentialpartofkeepingyourbusinessfreshandexcitingforyourcustomers(andthuskeepingupwith,andhopefullyeven surpassing, the competition).
1.3 BenefitsofBeingaGourmetFood Store Owner
BeYourOwnBoss
Astheownerofagourmetretailbusiness,youwillworkhard,butyouwillreaptherewardsofallyourhardwork.Inadditiontosettingyour own hours and creating your own work environment, you can alsochoosewhoyouworkwith.Theself-empowermentthatgoeswith
![Page 15: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/15.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 15
thiskindofcontroloveryourjob,yourenvironment,andyourfutureisanotherplusofbeingyourownboss.
ShareYourPassionforFood
“Passion is an important factor for success. It will actually differentiate you from some of your competitors. Customers will come to you because you love your products and enjoy teaching people about them, having them sample them, etc....People love to shop where the owner drips passion. Passion is contagious—your staff will be spurred by it and you’ll attract better salespeople. Your passion will also make you a better salesperson.”
— JoyceWeinberg,president,CityFoodTours
Mostsuccessfulgourmetfoodstoreownersareverypassionateabouttheproductstheysell.Gourmetfoodretailingisaboutprovidinghard-to-findandspecialtyfoodsthatyourcustomerswant.Youwilluseyourpassionforfoodtospottrendssothatyoucanprovidethefinestproducts available to your customers.
Gourmet and specialty stores have an advantage over supermarkets andgeneralgrocerystoresbecausetheycansellitemsthelatterstorescannot.Regulargrocerystoressellalimitedvarietyofthemostpopularitems, and maybe a gourmet selection or two, but they need to sell to a broader clientele. As a result, they have to stick to the same garden varietyselectionsyou’llfindinmostgrocerystoresthroughoutthecountry.
Gourmetstoreowners,ontheotherhand,gettoselectbetter,higherquality, and more exotic items. In short, you get to make a living doing somethingyoureallylove.(Theexceptiontothisisfranchisestoreowners.However,thelackoffreedomtochoosemerchandiseandotheraspectsofyourbusinessisoffsetbyotheradvantages,asyouwillseein Chapter 3).
“You need some part of this business in you, something about it that you are really passionate about, something that drives you to work as hard as it takes to succeed in this business. Whether it’s a passion for the products you sell, or for seeing a smile on someone’s face when they get exactly what they want. This is what gives ‘life’ to your business.”
— JoshuaRussTupper,Russ&Daughters
![Page 16: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/16.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 16
CreativeFreedom
Owning your own gourmet store is also an excellent creative outlet. Fromthefirstsparkofanideatothedevelopmentandcreationofyourconcept,theme,layoutanddesign,youwillbecreatingyourstorefromthegroundup.Evenifyouchoosetopurchaseanexistingindependentbusiness,youwilluseyourcreativeskillstoplanmerchandisingefforts,includingstoredisplays,andwindowandin-storedisplays.You’llalsohavetheopportunitytocreatefunmarketingcampaigns,suchasyourgrandopening,adcampaigns,andin-storepromotions.
FinancialRewards
Howmuchyoucanearnasagourmetfoodstoreownervariesgreatly,buttheupsidepotentialisalmostlimitless.Successfulgourmetfoodstoresrangefromtensofthousandsofdollarsannuallyforasmallneighborhoodstore,tomillions,orevenbillionsofdollars,forchainstores.Forexample,internationally-knowngourmetcompanyDean&Delucaboastsannualsalesofalmost$60million.WholeFoodsMarket,withcurrentsalesofover$13billionperyear,startedoutin1980asasingle modest store in Austin, Texas employing only 19 people.
“Anyone who has the will power to actually go through the steps involved that lead you to open your door for business on that first day should be congratulated. There are so many elements involved, but I think the bottom line is you really have to enjoy what you do and that will lead to a more rewarding sense of success. Success does not always come financially early on, or maybe ever, but the actual journey that you will take from beginning to end should be the reward.”
— MeganCariola,StonehouseCaliforniaOliveOil
WillingandEnthusiasticCustomers
Although the success of your business depends on effectivemerchandising, a great location, and promotion in order to get enough customerscomingtoyourstore,oneoftheadvantagesinthegourmetfoodbusinessisthatmanypeoplealreadyseekoutthistypeofstore.SpecialtyFoodsreported,that“In2014,145millionpeople—59percentofU.S.consumers—purchasedspecialtyfoods.”Animportantpartofthegourmetretailfoodexperienceforcustomersisthepersonalserviceandthe“adventure”ofdiscoveringnewfoodsthisway.Asaresult,
![Page 17: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/17.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 17
your clientele is already on your side and they’ll want you to succeed as much as you do.
Thesearejustsomeofthemanybenefitstoowningyourowngourmetfoodstore.Soifyou’reready,breakoutsomeCiapinneflatbreadandHarlechcheese,sitbackinyourcomfortablechair,andlet’sgetstartedonyourfabulousnewcareerasagourmetfoodstoreowner.
1.4 Inside This GuideThe FabJob Guide to Become a Gourmet Store Owner is organized to help takeyoustep-by-stepthroughthebasicsyouwillneedtoopenandoperateyourownstore.Thechaptersareorganizedasfollows:
Chapter 2 (“Getting Ready”) explains the skills you will need as a gourmetfoodstoreowner.Itcoverswaysofgettingpracticalhands-onexperiencebylearningfromothersuccessfulgourmetfoodstoreowners,aswellasinformationoneducationalprograms.You’llalsofindresourcesforbroadeningyourknowledgeofthegourmetfoodindustry in this chapter.
Chapter 3 (“Starting Your Own Gourmet Food Store Business”) will helpyoudecidewhatkindofstoreyoushouldopen.Thischapterdiscussesdifferentproductsyoucansellandwillhelpyoudecidewhethertobuyanexistingstore,operateafranchise,oropenanewstore. It also explains what you need to get started, including your businessplan,start-upfinancing,storename,andotherimportantmatters.
Chapter4(“SettingUpYourRetailStore”)offerstheinformationyouneed to actually set up your store. It gives advice on how to choose a location, get merchandise to sell, and arrange displays. You will also discoverwhatequipmentandsuppliesyouwillneedandwheretofindwholesalers and suppliers.
Chapter5(“RunningYourBusiness”)takesyouintotheday-to-daychallengeofrunningyourstoreonceit’sopen.Itexplainshowtodevelop a procedures manual, and covers inventory management, financialmanagementandpricing,marketingyourbusiness,andrecruitingandtrainingyourstaff.
![Page 18: FabJob Guide to Become a Gourmet Food Store Ownerfabjob.com/sample/Gourmet Food Store_Sample_Guide.pdf · Open your own gourmet or organic food store! Julie Moran FabJob Guide to](https://reader030.vdocuments.site/reader030/viewer/2022040311/5d5b957488c99331518ba64e/html5/thumbnails/18.jpg)
FabJob Guide to Become a Gourmet Food Store Owner
Copyright©2017FabJobInc. • www.fabjob.com • 18
Chapter6(“GettingandKeepingCustomers”)showsyouhowtoattractandkeepcustomersthroughvariouseffectivemethodsformarketingandpromotingyourbusiness,aswellashowtoprovidetop-notchsalesandcustomerservicethatwillhelpyoubuildasolidbaseofloyalcustomers.
Byfollowingthestepsinthisguide,youwillbewellonyourwaytolivingyourdream—openingyourownsuccessfulgourmetfoodstore.
YouhavereachedtheendofthefreesampleoftheFabJob Guide to Become a Gourmet Food Store.Toorderanddownloadthecompleteguidegoto https://fabjob.com/program/become-gourmet-food-store-owner/.