2023 is a great year to start a food business as the economy is picking up. According to Asian Business Review, Malaysia’s Food Service sector is expected to grow to RM109.08b in 2025 at a compound annual growth rate (CAGR) of 10.9%.
So, if you are thinking of getting into the food service industry, there’s no better time than now. Lack of ideas? Here are 6 potentially profitable startup businesses that you can explore!
Recently, you may have noticed that food trucks are becoming exceedingly popular. Not only because it brings along the great taste of your food to all regions of the country, but it also gives you a lot more creative control of your own menus as you learn the trade of culinary arts. While you have the flexibility to travel to different food-rich regions in Malaysia, it’s a great way to spread the word about your own culinary skills around too!
It is not an insider-information that starting a restaurant requires a high initial cost. With a food truck, all you need is just a vehicle to settle and a kitchen with sufficient tools and you now have a restaurant on the go! It saves you cost, and it also doesn’t require you to hire a full team right from the beginning! Just try your best to keep your food stored safely and you’re permitted to park at the places you’re selling.
In case you want some ideas for your food truck menu, let us assist you with some here.
Another great way to get started in the food business is through meal kits – a type of food subscription service in which you offer pre-measured ingredients and give instructions to your customers, allowing them the opportunity to cook by themselves without the worry of shopping individually.
Right now, it’s a relatively hidden gem in this food business as it has little competition and allows for many different foods to be added into the mix. You can offer meal kits for fitness junkies, busy moms, and students – it all depends on your chosen menu!
It’s not only a cheap way to start a business, but it doesn’t even require any actual cooking to take place, just good recipes, efficient logistics and clean storage for fresh ingredients! Even better if you can handle a good social media presence.
Bakeries have been around traditionally since sliced bread has been a thing, and its baked goodies have always been in high demand, especially during the holidays and special events. Moreover, the future of this category is bright as the sales value of manufactured bread, cakes, and other bakery products in the country were approximately, a whopping RM 12.38 billion in 2021.
It’s a great opportunity to hone your culinary skills through hundreds of different varieties of baked goods. It offers many different ways to cater to customers, such as specializing in something specific – sourdoughs, beignets; or you can go for something general like cakes, muffins, or pretzels. With this business, you can transcend the usual brick-and-mortar by selling your baked goods online!
A lesser-known but highly profitable startup is through jam and jelly selling. As the most beloved condiment for bread and pancakes, it’s quite a highly-demanded market.
It’s not only a less contested market with high demand, but it’s also a rather low-cost business. There are people out there that favor homemade jellies over larger brands for their authenticity and lack of preservative usage, giving you an edge in the market even against the bigger brand names. Speaking of, it gives a good opportunity for your culinary creativity by mixing up different fruits and jellies to test out a spectrum of flavors to sell.
Everyone has heard of coffee but doesn’t really understand just how big the coffee market really offers, having an estimated revenue of $155.64 billion by 2026, it’s one of the largest growing markets out there in the food industry, with ample opportunities to those that wish to take part in starting up their business as coffee shops.
Although boasting expensive equipment from the machine and rent of a coffee shop, it finds worth by allowing access to a large returning customer base that can be reached by promoting on social media.
Coffee is also an art that can be explored in-depth, by mixing and blending different beans and ingredients to add to your unique menu. With the right blend, you might find yourself a group of super-loyal customers that will fuel your success!
It’s not hard to see why the ice cream business is worth exploring – considering that everyone loves good ice cream. Sell in through a food truck, a simple bazaar booth, or as a vendor in a cafe – this business can be big or small, depending on your preference.
Tangy flavors for summer, peppermint for Christmas, and strawberry blend for the mid-year, there will almost always be customers to serve as an ice cream parlor. With endless possibilities of ice cream, it’s easy to get lost in your culinary imagination – so keep your target audience narrowed down and offer your most confident flavor to have your first win!
With these ideas in mind, it’s important to keep to your strengths and work on what you’re best at, for that is one of the most important aspects when starting your business. Follow Ajinomoto Food Biz Partner for more news, tips, inspiration, and insights. Join us as members today!
Ajinomoto Food Biz Partner
