Frozen snacks dominated demand for frozen food in the country and the segment is anticipated to continue dominating the market through 2021.
When it comes to frozen food business, one encounters endless options such as selling frozen fruits, vegetables, meat, chicken, fish, sea foods, turkeys and candy etc. It is looked upon as the next most successful business in cities, which are moving far from the villages, where fresh fruits and vegetables are grown.
India’s frozen food market is projected to grow at a CAGR of around 15%, during 2016-2021, on account of increasing number of modern retail chains, rising number of refrigeration facilities in small retail shops and rural households, rapid development of fast food chains, aggressive marketing strategies by major frozen food manufacturers, and longer shelf life and easy availability of frozen food products.
Frozen snacks dominated demand for frozen food in the country and the segment is anticipated to continue dominating the market through 2021, due to wide variety of products available in the segment. India cold chain industry is anticipated to grow at a CAGR of more than 24% in coming years.
Looking at the market, one can clearly see the amount of scopes; this business is throwing lights upon. Hence here are a few tips, if you have determined to start a frozen food business in India:
Before establishing any business, one needs to do a thorough market research. It provides clarity about the locality, customer demands, and makes one aware of the competitors.
Market research helps in knowing what the people in the locality buy, how many competitors you are going to face, how better a service you can provide them.
Moreover it also warns you not to open another store or invest your hard-earned money in an already overcrowded market place, where your store will hardly be acknowledged of its existence.
Based on the market research you will figure out what you want to sell, who your customers are going to be and if you want to add the delivery option in your business.
The ideal location for opening a store will be if there are college students, bachelors or families or canteens or eateries in and around the locality, who will be your target customers.
Adding delivery options will increase your market potential.
Look for Suppliers:
If you select a very interior place, ten it would not be easy for the supplier to supply you the items in time. Also if customers are flooding in your store and you do not have enough to sell, it is a big turn off for the customers as well as to the business.
Thus figure out a place where you can get your supplies in time and which should be easy for the supplier to deliver.
Selling frozen foods without permits makes your business illegal and vulnerable. It gives government to attack you anytime.
In vulnerable situations, one lives in constant fear of being caught or alleged for wrong reasons. Moreover frozen food business is a business which requires constant supply of electricity, if you leave just the important thing, of getting a permit or simply postpone it, what if they disconnect your electricity connection, your business as well as our reputation will go down the rain.
After all the important things, related to opening a frozen food unit in a locality, getting permits, buying all important equipments and hiring people, the only thing remains is marketing, which is like the last link to connect your business with the customers.
Circulate the word through pamphlets, ads, big hoardings and social media, along with the line delivery service too is available as this might give the push to your business.
Gradually the whole of country is running to become the next developed urban, thus make the most of this time and start a frozen food business in India.