I have been blogging about edible insects for a couple years now. The end goal has been to start a food business. ‘Edible insects’ is an amazing niche with in the food industry that has so much potential. As an entrepreneur, its necessary to understand all the the risks you are taking when you start a business. That why many of my blog post have been on regulations. That being said, I feel that risks related to regulations are minimal when managed. As with any food food company, it is imperative that you are able to demonstrate that your product is wholesome and does not contain any public health hazards.
Finally, I have a product and a business plan that requires minimal capital and is low risk… Cricket Worcestershire Sauce.
- Its easy to make – some of the ingredient can be sourced in a pre-blend so its really easy to produce. Making significant quantities is manageable in a non industrial setting. This is important to manage initial capital requirements. A small run will also serve as a market test.
- Scale-able – This product can be scaled up to at a co-packer with out a hitch. (just need to find one that is OK with insects).
- Flavor focused – other products on the market only focus on protein and nutrients. One of the benefits of entomophagy is that insects taste great! I hope that Cricket Worcestershire Sauce sets the bar for flavor delivery by insects.
- Multi use – Cricket Worcestershire Sauce will be a conversation starter in you kitchen for weeks.
- Low cost of raw materials – cricket powder is a high percentage of the total costs. Because this is a multi use product, the margins can be relatively higher.
- Its safe – the pH is low (about 3.7) so its shelf stable.
- First step is to get all of the general business stuff squared away.
- Then make 200 bottles or 2,000 bottles?
- Im going to blog more about the business plan in future blog posts.
More information about Incredible Foods can be found at: https://incrediblefoods.wordpress.com/