Hey guys so I will be starting a microgreens company here in the EU. I have very little competition in my area, and/but the populace here might not know enough about microgreens. I also have concerns regarding the up coming financial downturn. I believe it was said thats theres 70% chance the U.S stock market will crash in the next two years. Can you advise me on how I can start a robust microgreens company that can thrive during these recessionary times and also survive an economic crash?
I will have to take a loan to start this company. I believe I can start it with 50k euros. There’s two companies I know of that can provide me this loan, with one there will be 10% interest on the loan each year, up to 20 years repayment time, and I would need to start paying back immediately. And the other I believe its 2.5% with 2 years space before repayments have to start. With the last one my business idea has to be innovative to apply for it.
With the 50k I will buy the equipment and materials I need, rent the space I need for 1 year+, and be able to cover the loan repayment for 1+ year.
My main concern is how do I find clients and maintain them during this recessionary period till the possibly soon economic crash? I will focus on providing microgreens both to restaurants and direct to consumers.
Sure, you can DM me with any questions you have.
As for market research, you can always ask questions at grocery stores or restaurants. You know what types of dishes or salads the greens you want to grow are good with or in, so maybe play dumb and act like what you’re “looking for” isn’t available and if they know where you can find it. Instead of a direct response like “I’d love to buy your product”, look for more subtlety like “we’d love to offer it, but just can’t it get here fresh locally”.
One of my prospective clients does mushroom growing like lions mane and a couple of others and gave me a tour of his grow room. It’s probably 1x2 meters or so. Hydroponic greens take a little more space though, but can be done vertically. Maybe start with one vertical unit where the lights are in the center and the plants grow around the edge.
Good luck!