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.
Yeah that is fair. Microgreens is more like a luxury good. Since they tend to be a bit more/quite more expensive it might be the first things to be cut. Unless the consumers are very health focused, then they might hold unto the microgreens for longer? Since microgreens are known to have health benefits to them?
I suppose if I find the right niche I might be able to weather the storm.