Consumer tastes, preferences and expectations around food consumption and distribution are changing. People are demanding more healthy food while also sometimes making the foray into purchasing food items online, mostly non-perishable, potentially hollowing out the center of grocery stores.
The limited amount of people in many communities who are able and willing to buy purely local products creates the “locavore’s dilemma.” This underscores the importance of using market research data to inform how big the market size is and what people are actually purchasing and where.
Having your own business is difficult and as a founder, you start out with just you. So many things that are difficult to deal with happen in business and how you adapt is key to business survival. Finding creative revenue streams and maybe even a new business model can be the way your business survives deaths, fires and funding falling through.
Equity-based crowdfunding (not to be confused with donation or rewards-based crowdfunding) is a new industry and it may not be worth pursuing as a source of capital for such small amounts of money from so many investors who now have an ownership stake in the business.
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Since selling food or beverages like beer are about selling your brand, protecting that brand and its growth in value through the trademark process is very important. Trademarks should be distinct and evocative as opposed to generic and descriptive, mimizing the likelihood of confusion with other trademarked intellectual property.
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The type of entity you form and the type of legal protections you undertake matters in terms of your strategic path to grow and what kinds of money you are able to raise to support that growth. When raising equity, find legal counsel that understands what you need to do to comply with securities law and its required disclosures to investors or potential investors.