Looking for a homemade chocolate business in India. Here are the information that can help you to Start your homemade chocolate business
Do you have a sweet tooth? You can turn your love for chocolate into a successful small business. Chocolate always has wide acceptance with people of different age and status. Recently, a market has got created for exotic chocolates and people are ready to shell out for a taste of homemade brands. So Start your homemade chocolate business.
If you have got creativity and passion for cooking, you can Start your homemade chocolate business and run it successful from your small kitchen. Unlike, other small business ideas, capital investment involved in homemade chocolate making business in only a few thousands.
About homemade chocolate business
Indian society has undergone several changes in the recent time. A significant change has happened in food as people are now embracing world culinary with open arms. Chocolate and candy makers too have found themselves a niche in the market catering to quite a wide variety of discerning customers. Homemade chocolates are favored for their exotic tastes and flavors that they create by using chocolate from different countries and exotic fruits.
As a business homemade chocolate venture can be immensely successful and can take off almost immediately if you start on the right note.
As stated above there is a newly found love for homemade chocolate. Open-market policies have given Indian consumers an easy access to chocolate varieties from all parts of the world. Homemade chocolate makers are experimenting with different flavors and types to offer an exotic palate of taste to customers.
In weddings, parties, and even as gifts there is now a huge demand for homemade chocolates. Some entrepreneurs are also selling vegetarian chocolate for the large vegan population of India.
Homemade chocolate is fast replacing and emerging as an alternative of traditional Indian sweetmeats. Indian chocolate makers are selling wide range of chocolates, truffles, chocolate coated fruits, and more to their growing customer base.
Level of competition
As popularity of homemade chocolate is increasing so is the competition amongst confectioners. Since they often cater to a niche, it is very important to select the right market as well as the right place to establish a shop. You would also need to understand what your customers want. Being unique is the key to succeed in chocolate making business. There may be several who have been selling truffles to customers but very few selling chocolate dipped fruits or monogrammed truffles for special occasions. There is a huge demand for custom made chocolate amongst customers.
The future of homemade chocolate business in India
Homemade chocolate industry is emerging in big way in India. According to some recent reports Indian market is one of the fastest growing one in adult consumption of chocolate. So far Indian market was mostly ruled by large brands like Nestle and Cadbury but the market is getting dispersed with many smaller players coming to the fore. During 2008 to 2012, Indian chocolate industry had registered a growth rate of 15 percent and market projection is 23 percent CAGR for 2018.
Who can start this business?
If you are passionate about chocolate, creative and love experimenting with flavors, then it might be a business opportunity for you. Starting a homemade chocolate small business is particularly easy and involves nominal capital. However, it is advisable to research and develop an understanding of market before you start off. To hone your skills and learn the art of chocolate making, participating in a few workshops is a good idea for first time entrepreneurs.
Skill set you need
As a small business entrepreneur you might need to wear many hats and so, it is important that you develop a few entrepreneurial skills as mentioned below.
- Leadership skills
- Managerial skills
- Capital and resource management
- Team building and management
- Marketing and market researching
- Customer handling
- Networking
- Developing understanding of market trends
- Variety of chocolate recipes
Investment
Depending on market and location, volume of investment for your chocolate business might vary. The business would need both capital and resource investment in terms of buying raw materials, which is sometime exotic fruits or chocolates and can cost really high, and equipment and appliances for treating chocolate.
Website building
The best and perhaps the easiest way to reach out to larger audience is through a business website. Since, homemade chocolate business is mostly urban based, you’d need modern marketing technique to target your customers. A website will help your customer find your services easily and will help your brand get popularity with your target market. Careful online marketing will help your website get more visitors and therefore, more business.
Marketing plan
Since chocolate makers cater to a niche market a comprehensive marketing plan helps them gain a critical edge over competitors. Marketing strategy for homemade chocolate business should include both digital and offline marketing for balanced and overall business promotion.
Off line marketing plan for chocolate business
Offline marketing for homemade chocolate means interpersonal communication and direct promotion with your prospective customers. Your business can also reap advantage from direct marketing and advertisement like –direct mailers, fliers, advertising in local newspapers and channels.
Marketing plan for chocolate business
Comprehensive digital marketing now feature in marketing planning of any business. It involves search engine optimization, social media optimization, paid online campaign and email marketing. The idea is to offer your business affordable yet constructive marketing solution. Online marketing is deemed more appropriate for smaller businesses since they can’t afford large fund involvement in conventional marketing like large enterprises.