As a food entrepreneur (even an aspiring one) you already know that you belong to a creative group that's always looking for new flavors to love, restaurants ready with a fresh take on favorites, and the best sources to provide only the best ingredients. Foodies are resourceful and innovative, and food entrepreneurs have a can-do attitude and a devotion to sharing delectable experiences, great and small, that are practically contagious. Unfortunately, being good with food and having the bold desire to bring your food to the marketplace isn't enough to translate into a successful business.
Fortunately, PCC Small Business Development Center offers a 14-week intensive program to help you do just that—Getting Your Recipe to Market. In today's post, we'll explore an important part of how to grow your food business, which you'll learn about as a part of the course's market readiness training: horizontal and vertical growth strategies. Both are valuable methods for growing a business through the development of brands, products, production and distribution channels, and business partnerships, but we generally recommend one over the other when first starting your business.