Food and beverage companies often start with a great product or idea and passionate person or team who thinks they can take that and build a business. The path can be long, winding and rocky, however. This report hopes to shed some light light on how best to approach each of the stages of growth in a food and beverage company's lifecycle through hearing from executives whose companies are doing it right.
There are many stages of growth in a food and beverage company. The biggest question for Emerging Growth stage companies is how to grow successfully. The top growth strategies for 2017 are; sell more to existing customers, acquire new customers in existing markets, expand into new markets and develop new products.
There are four things companies should have in place to prepare for attracting additional outside capital: "First, you want to show steady increase in revenue...; second you need to show steady and continued profits and EBITDA; third, you must have a strong love management team in place...; and fourth, you absolutely must have a strong, detailed business plan."
Growth stage companies and their products now have a track record, and may need to focus on developing entirely new products or categories to keep growing.