Start a Food Business Training

Start a Food Business Training

Training contents:

Bring along your i-pad, laptop or note pad to training to get started immediately

 

SESSION 1

Preparation

  • How to assess if a business of your own is the right path for you.
  • Smart strategies if you have a current job and how you could transition
  • Find out how much of commitment you need of your self and the people close to you.
  • What to consider when it comes to finance and funding.
    • Lack of money, insufficient money and or lack of cash-flow is a common cause of business failure.
  • Some important tax issues to consider, such as General Sales Tax (GST) 15%, Income Tax (INC) 10.5% to 33% and Company Tax 28%.
    • For example, if you sell kai or a muffin for $1.00. Some new business owners could assume all this money belongs to them. However, how much actually belongs to us is explained below:
      • Of the $1.00 in sales, 15% is GST that we owe the government = $0.15.
      • This leaves us with $0.85c. ($1.00 - $0.15).
      • Let us assume the cost to make the kai or muffin is $0.40.
      • This would leave us with $0.45 ($0.85 - $0.40).
      • If we choose to keep the money in the company, company tax owed on $0.45 would be 28% or $0.13.
      • This then leaves us with $0.32c profit for each kai or muffin to re-invest in the business.
      • Another factor to consider is the opportunity cost of your time.
        • Let assume the minimum wage is $17.17 per hour.
        • You would then need to sell 39 portions of kai or muffins ($17.17 / $0.45) to break even (recover the cost of just your time), to make the muffins and sell them all in 1 hour! 
        • If you spend 2 hours of time you would need to sell 78 portions of kai or muffins just to break even.
        • If you then go on to earn less than $14,000 a year your income or wage is then also taxed at 10.5%, to begin with, and progresses in a tiered structure up to 33% as outlined below:
            • $1 to $14,000 = 10.5% INC Tax
                • This means we owe IRD income tax of $1.80 for every $17.17 we earn or take out of the business as a wage
                • This leaves us with just $15.37 for an hour of work 
            • $14,001 to $48,000 = 17.5% INC Tax
            • $48,001 to $70,000 = 30% INC Tax
            • $70,001 and above = 33% INC Tax 
    • Not understanding our tax obligations and the inability to pay our tax on time is another common cause of business failure.
    • Learn strategies about how to set your tax money aside before your tax becomes due and why this is important
  • Based on the above understand the importance of both pricing and scale (your ability to make and sell as much kai or muffins as you can and what you need to charge)
  • Understand financial statements and budgets
  • Understanding the law - Business law basic overview
  • The importance of creating something valuable that people want to buy and when this applies while building your business plan
  • Choosing a business partner and considering if this is the right option for you
  • Getting the right personal-support structure around you - mentors /advisors/board
  • Basic technology skills and apps to save you energy and optimize on your time (google docs, forms, sheets)
  • Sustainability basics

Session 1 Homework: review the next session topics and prepare

 

SESSION 2

Food Safety Compliance

Our basic food training covers back of these steps in details

Book on this link now!

  • Step 1 - Understand the rules
  • Ministry for Primary Industries - MPI Video explains what this means

     

     Podcast audio file

     

     

     

  • Step 2 - Food Control Plans
  • Ministry for Primary Industries - MPI Video explains what this means

     

     Podcast audio file

     

     

    Click on this link for some free training 

  • Step 3 - Register your business 

The Ministry for Primary Industries - MPI  explains what this means on this web link

 

  • Step 4 - Get checked or Verified
  • Ministry for Primary Industries - MPI Video explains what this means

     

     Podcast audio file

     

     

     

 

SESSION 3

Execution

 

  • Choosing a business name
  • Planning for sales
  • Formalizing a plan for your business
  • Executing on your business plan - MATT
  • Positioning your business
  • Creating a curve jumping product
  • Food business ideas from around New Zealand and around the world

 

SESSION 4

Getting stuck in

  • Creating a short story about your business/product/service - elevator pitch
  • Marketing your business Social media fit - understanding social engagement platforms and what could suit you best
  • How to get better with sales if you know nothing about it
  • Building your team -Types of leaders - communication
  • How to be a good leader
  • Business launch
  • Celebrating your success

Homework: Look at some food business ideas from around the world Further develop and build your BP based on learning so far

 

This video explains how Food Safe collaborates with companies to deliver food safety training: 

 

To request this training and benefit from a fun classroom-based learning experience, call us on 0800 003 097 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Entrepreneur Support Videos

  • 1 - Business structures
  • Inland Revenue Department - IRD Video 

     

    SESSION 1 Support Videos

    • 1 - Business structures
    • Inland Revenue Department - IRD Video 

       

       Podcast business structures audio file

       

       

        

    • 2 - Income and provisional tax
    • Inland Revenue Department - IRD Video 

       

       Podcast Income and provisional tax audio file

       

       

       

    • 3 - Expenses
    • Inland Revenue Department - IRD Video 

       

       Podcast Expenses audio file

       

       

       

    • 4 - Depreciation
    • Inland Revenue Department - IRD Video 

       

       Podcast Depreciation audio file

       

       

       

    • 5 - Registering for GST
    • Inland Revenue Department - IRD Video 

       

       Podcast Registering for GST audio file

       

       

       

    • 6 - Recordkeeping
    • Inland Revenue Department - IRD Video 

       

       Podcast Record keeping audio file