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GENERAL LIABILITY INSURANCE - Burden or Necessity?
So now you have your product, you have your manufacturing facility, you have your employees lined up, and you have a strategic business plan to get your business off the ground. Now is the time to make the phone call that nobody likes to make - to an Insurance Agent.
You know the person. The one who tries to get you to buy a whole bunch of expensive stuff because something "might happen," or so you think. You don't understand the technical terms, such as "G.L.," "Comp," and "Umbrella," nor should you. Finally, after a comprehensive interrogation of your business, you receive the quote. You pay for it, because you want to protect your investment - the result of everything you have done for the past few months or years. If you do, you should at least know what it is that you are buying, and what to look out for when you buy it.
Industry expert Scott Mikkelsen comments about the subject. Click here to learn more.
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Quick Links...
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Dear Stephen,
Welcome to Volume 28 of Food Entrepreneur eZine (FE). More than a quarter of Volume 27 readers clicked through to the article about Mom Made Foods, and just under 15% clicked through to learn more about Food Label News and the website popularity tool from MarketLeap.com.
FE maintains that if you have a pulse and are in business after seven years, then you are probably successful.
Would you like to be an FE contributor? Topics are welcomed that impact almost any aspect of specialty food marketing. We will be happy to help.
Does FE help you? Please let us know what you think we should do to improve its interest, ease and utility. We invite and welcome your comments.
Let's work together to learn ways of succeeding in specialty food marketing. Stay tuned...
Wishing you great profits!
Pat
Pat Hall
Editor, Food Entrepreneur eZine
Steve
Stephen F. Hall
Author, From Kitchen to Market
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· NOTES AND COMMENT
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The specialty food industry grows in times of recession. More good people decide, often out of economic necessity, to enter the fray.
This is good news for the many enterprise development consultants. It means more opportunities to help the start-up food entrepreneur by moderating marketing and business development workshops. Many of these are hosted by universities and Small Business Development Centers. In this case, my next one will be at the ASBDC Annual Conference in September in Chicago, Illinois.
Have you noticed a positive and/or negative impact on your bottom line because of the recession? How have increased fuel prices affected your business?
We are also planning a series of Specialty Food Resource consulting "packages." We will have details in the May issue of FE.
Future articles -
Email Steve@specialtyfoodresource.com to let us know what other areas you would like to have addressed.
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· All About Food Labels - Guidance on Food Labels Qualified Health Claims, and more.
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Food Consulting Company's Karen Duester includes the following topics in the latest edition of Food Label News:
· Reader Q&A: "For a product that contains multi-component ingredients, such as cherry pie containing fruit filling and crust - both with sub-ingredients - does the FDA require the ingredient statement to state each ingredient with sub-ingredients in parentheses, or is it okay to list the subcomponents one at a time in order by total weight?
Table of Contents:
- Food Consulting Company is Food Labels Expert at Conference
- No Halt in Food Labels Qualified Health Claims
- Helpful Sources for Food Labels Rules
- At Your Service: Any-Time Access to Food Labels Files
Readers of Food Label News can submit their food label questions free of charge for possible publication in the Q & A Section of Food Label News.
Here is the latest issue of Food Label News.
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· Specialty Food Resources - Go to Resources and Select "Co-Packers"
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Your SpecialtyFoodResource.com site has a SEARCH feature. You may now go right to the "find" section and look for information on our entire site. Feel free to let me know if you see anything that needs changing.
For example, when you click on the "Co-Packers" tab, you will see an alphabetical listing and contact information for food production.
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Visit your free resource center and learn about co-packers.
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· Be a Part of Specialty Food Marketing History!
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Be a part of specialty food marketing history! The 5th edition is in its initial planning stage. Let Steve know what you would like to see changed, added or deleted in our next (5th) edition of "From Kitchen to Market - Selling Your Gourmet Food Specialty." All ideas will be considered. Please share what applications were most effective for your business model and why. What didn't work? Improvements? Contributions are appreciated by May 1, 2008.
Steve@specialtyfoodresource.com
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· This month's Specialty Food Entrepreneur "Mini-Case" Study and Website: CurrySimple!
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CurrySimple reports that it provides the highest quality Thai food products in America. What began in the Thai food restaurant industry now transitions to your home kitchen. Michael Moran and his business partner, Nimitar Haremtepalhip, produce their line of red, green, yellow and massaman curry sauces, Pad Thai sauces, coconut soups and tea concentrates in Thailand using only the freshest authentic ingredients.
Learn how Michael developed the entire line, taking it from the restaurant world and into the specialty food market and your kitchen.
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· How Popular is Your Website?
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You can find out here. This site is getting a lot of "hits" from FE readers, and it's still free.
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· Strategic Planning at a Glance - Recommended Agenda
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Have a look at the winning Strategic Planning Workshop/Retreat Agenda I use. It helps food entrepreneurs establish a strategic framework that is critical to their success. Contact me to learn how we can implement it in your firm.
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· FE Contributor Listing - Names and Contact Info
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Here is the listing. Please contact me to learn how you, too, can be added to this prestigious listing.
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· Industry Trends
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In March 2008, Steve attended the Natural Products Expo West in Anaheim, CA with a new client. The Expo showcases all things natural and organic including healthy ethnic foods, natural and specialty foods, all things vegetarian as well as wine, beer and spirits.
The entire natural and organic products industry is estimated to annually generate $57 billion and records show an increased attendance of 11% over Expo 2007.
This was an incredible venue for buyers from not just supermarkets and upscale gourmet outlets but also other retail outlets including pharmacies, convenience and club stores, ethnic markets and independent co-ops.
If your product falls into this exploding market segment, you might consider attending the Natural Products Expo East 2008 in Boston, Massachusetts from October 16-18, 2008 at the Boston Convention & Exhibition Center
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· The 4th Edition of "From Kitchen to Market" is Classic!
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"From Kitchen to Market is the best book about the U.S. specialty food field, and there is a great need you have so very well covered!" - Ted Koryn, U.S. specialty food industry pioneer.
The only book of its kind that outlines every food marketing opportunity and then supports entrepreneurial action with detailed guidance.
FAN MAIL: "Very helpful, thank you." - Keith Hinkle
See additional testimonials.
Other good books for small business management can be seen at Kaplan Publishing's web site: www.kaplan.com
ORDER THE BOOK HERE.
Discount price: $19.11 [Cover Price is $28.95]
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· Build and Manage Your Own Website!
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Sell your specialty food product online!
SnapMonkey is a place where you can go online and create your own website. You don't need to know anything about programming. If you can create a word document, you have the skills to create your own website.
With our easy-to-use shopping cart, you can easily sell your products online. Try our 10 day NO-COST trial. If you like it, it is only $49 to activate, and $29.95/month. Give it a try.
How is your website? Here is a first class web analysis service. We can research your market and prepare a plan. For more information, see this site.
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· A New eBook About How Powerful Online Communities Can Promote Your Business
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Why Buy It?
Reason One: According to an iProspect study, 1 in 3 Internet users are searching online communities, reading what other people have written, and making a buying decision based on what they have read.
Reason Two: Statistics show that 70% of people research online before making a purchasing decision. (And that includes local service businesses).
Reason Three: You will learn from experts who have PERSONAL EXPERIENCE and who have successfully market their businesses in these online communities. And, these experts are going to share their strategies with you!
Try it out. If it doesn't do everything the author says and more, if you don't save money, time and frustration, if it isn't life-changing, if it doesn't work for you, you have nothing to worry about because you can get every dime of your money back under our no- loopholes guarantee. So you have nothing to lose and everything to gain
Cost: $47.00 [Cover price is $79.00]
"Dollars and Sense of Online Communities"
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