A food incubator may be defined as a ‘business incubator dedicated to early stage catering, retail and wholesale food businesses.’ Food incubators have many benefits that make them a more attractive prospect to new food businesses in comparison to setting up your own approved kitchen space. As a member of Newmarket Kitchen, these benefits are clear. Using ourselves as an example, we help to reduce barriers to entry such as start up costs including premises rental and Equipment purchase. We help to educate on regulations and the certifications that are required, offering training and Mentorship to any of our members. There is a low capital investment, no long term contracts are required, working hours are flexible, storage spaces exist and Support services are on hand where needed when you become a member of Newmarket Kitchen.
Low Initial Investment:
The cost of starting a commercial kitchen is substantially higher than the fee required to join a food incubator. At the early stages of a food business life cycle money may be hard to come by, for example only 40% of food business are profitable in their early stages. Small scale businesses can’t afford the capital investment required to start their own approved kitchen without large loans, therefore a shared Kitchen space can provide a lower cost, lower risk option for a food business.
No Long term contracts:
Newmarket Kitchen operates a flexible usage model. The benefit of this is that your business can use the space whenever it sees fit. For example if your business grows exponentially and a shared space is inadequate, you can move on without being tied down to contracts. All costs including equipment usage, electricity, gas, waste and marketing are included in one simple price.
Flexible Operating Hours:
The benefit of this is that the kitchen can be used 24/7 by members. If you must work on your business during off peak hours that is not a problem as the kitchen and its facilities are accessible to you at all times.
Food incubators offer dry pantry, frozen and chilled storage options. Newmarket Kitchen supplies these spaces for storage. This is convenient as the business owner can keep all of their supplies in the one place so their is no need to transport supplies.
Food incubators have communities of entrepreneurs who can share ideas and experiences in the food industry with one another. We can also aid your business in developing HAACP plans, getting nutritional content labelling for your products and offer help in any other areas your business needs.