Profitable Food Business Ideas: Food and beverages account for 35% of an average person's income, which includes groceries as well as eating out expenses. In fact, by 2030, worldwide consumer food spending is expected to reach $20 trillion.
There are these normal expenses, and then there are the large expenditures on food and beverages that people make on special occasions such as weddings, concerts, and parties, which has increased the operations of caterers, food trucks, and street fast food restaurants, among others.
Its market size is projected to be valued roughly Rs 3,37,500 crores, and the Indian food market as a whole is worth $ 894.98 billion. In this article, you will be get to know two most profitable food related business ideas that can make you earn huge profits in the year 2022.
Top 2 Food Related Business Ideas For 2022
Here We Have Mentioned Top 2 Foods Business Ideas, Its Cost & Profit Analysis & Important Licenses
Food Truck Business
In the last 5-6 years, the food-on-wheels company has grown in popularity. There are now 21 food truck business brands with a wide range of cuisines, prices, and formats.
A food truck business involves cooking and selling food to customers from a huge van. By shifting from one location to another and attracting diverse consumer demographics, this food business allows you to cater to a larger market.
Different Types of Food Truck Businesses
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Burger
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Waffles
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American
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Barbecue
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Fast Food
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Street Food
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Organic Food etc.
Licenses Required To Establish Food Truck Business
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NOC From Chief Fire Officer
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Vehicle License
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Permission From Local Municipal Body
Investment & Profit Analysis
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Investment Required: Rs 1 Lakh – Rs 20 Lakh (Depends on Your Scale of Operations)
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Profits Made: Rs 300000 Per Month
What are the Advantages of Starting a Food Truck Business?
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Flexible time & schedule
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Low investment in terms of capital & manpower
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Quick Turnover
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Easy expansion opportunities
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Affordable by all the consumer segments
Who are the Target Customers?
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School & College Students
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Working Class population
Catering Service Business
The catering service industry is primarily responsible for the 10 million weddings that take place in India each year. It entails delivering meal service to hotels, restaurants, and other specific locations.
Different Types of catering Services
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Buffet
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Corporate
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Wedding
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Sit down
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Restaurants Catering
Licenses Required To Establish Catering Service Business
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Alcohol License
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FSSAI License
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Food Establishments License
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Other Important Licenses
Investment Required to Set-up a Food Service Catering Business
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Investment of Rs 1 lakh – Rs 20 Lakh
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Profits Made Up to Rs 15 lakh
What are the Advantages of Starting a Food Catering Service Business?
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High Turnover
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Low Investment
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Wide target Customer
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Word of Mouth Promotions
Who are the Target Customers?
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Weddings
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Restaurants
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Aircrafts
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Events & Occasions
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Commercial Offices
