My client, Momma Lena's Eggnog Poundcake launched Thanksgiving week and consumers are coming back for more.
Her live Tweets are exciting and I love to see a client take the knowledge they have gained from our work together and see the early signs of success.
Watch Your Costs from the Start
Success in the food business is more than great taste. Most recently Deborah and I spent time on her bill of materials to insure she understood her costs to know what her suggested retail price should be. I know most of you don't like the numbers and many clients don't see the value in generating early financial information on their product.
You Need a Bill of Materials
A bill of materials is not a recipe. It is a spreadsheet that captures what you are using in each batch of your product. It uses measures of weight, either grams, ounces or pounds... no cups, teaspoons or pinches!
The bill of materials and accurately forecasting your retail price, the margin of the retailer, the margin of the distributor, maybe the cost of your broker... yikes! Sounds complex but it is not AND so important to insure you have some profit left over after everyone else takes theirs!
The Journey of Momma Lena's
Live Tweets from Momma Lenas