Consumers today, millennials in particular, have a great awareness of the intricate relationship between diet and health. They pay attention to farming practices, take notice of where the food comes from, and are willing to pay a premium for quality products which promote optimal well-being.
This shift in awareness and behaviour has shaped how businesses operate. Across London, talented artisan entrepreneurs are leading the charge by making fabulous food from scratch and promoting healthy diets. From vegan cake, dairy-free ice cream, specialty coffee to honey from urban beekeepers, every day there are independent makers launching a product or service that tells you where the food is from and how it is made.
These artisan entrepreneurs come from all walks of life but they share two common characteristics: a deep passion about what they do and willingness to invest time and effort to make their project work. At Berley Chartered Accountants, our founders Jeremy and Mark also have a strong entrepreneurial spirit, which was why they set up an accountancy service for entrepreneurs and in the process, making Berley known as London accountants run by entrepreneurs. Perhaps it is no surprise that many entrepreneurs across London choose us as their trusted accountants.
Top tips to market & get new customers if you’re starting out
Launching your artisan food business is the first step and now you want to market your products and turn prospects into paying customers. Here are a few tips for artisan entrepreneurs to consider.
1. Find out where your ideal customers hang out
Firstly, draw up your customer profiles (age, interests, income level, etc.) and then put in some leg work to identify where they are and how you can get your products in front of them. As it is impossible to cover all areas, prioritise your ‘territories’ and work smart.
2. Don’t rely on social media alone
Social media is a great platform and we dare say it’s a must these days especially if you’re selling online, but if it doesn’t generate enough sales for you, perhaps it is time to take a step further and consider online advertising (eg. pay-per-click, Facebook sponsored ads) or email marketing. Set a goal before running any ads and track conversion diligently.
3. Partner for success
Team up with other artisan entrepreneurs. For example, if you roast your own coffee beans, consider working with a gourmet baker in jointly promoting your products together, giving both businesses a better chance of success. Two heads can be better than one and by working together, you and your partners can share the burden and cost while giving each other support.
4. Have a plan
Acquiring new customers takes time and effort, so how you sustain your business (and passion) relies on your cash flow. This is why having a solid business plan is vital. Contact our accountants for help and we’d be pleased to look at your numbers and work with you to develop a sound financial plan and keep your cash flow positive.
We also excel at business funding solutions – we can provide details on government schemes and grants, as well as helping you to put a sound corporate and legal framework in place to accompany your application for loan or equity capital. Our interest is to protect your interest – this is why you will see that we always seek to understand your unique circumstance first.
5. Attend craft fairs
Consumers today like to have a connection with whom they buy from and events like craft fairs give people a chance to connect with you and vice versa. You can also use these events to network and build new partnerships.
To find out more about how we can help your entrepreneurial start-up business, call us on 020 7788 8261 or get in touch using our Online Form.
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This post is intended to provide information of general interest about current business/ accounting issues. It should not replace professional advice tailored to your specific circumstances.