Have you got an interest in cooking? Whether you are already a professional chef or you just have a talent for home cooking, creating recipes could be something that earns you extra cash. Most enthusiasts for cooking don’t know that they can sell their recipes to food companies, and knowing how to approach these companies to sell those ideas is vital if you want to succeed in it. Every single food item on the shelves in bakeries and convenience stores has started with a new recipe. It’s more likely that the creator of that recipe could also be paid for their ideas, and why couldn’t you do that yourself?
Understanding how to sell a recipe to food companies could be the jumping-off point for you to have a whole new career in something for which you are most passionate. The steps below can help you to sell your awesome recipes to food companies – let’s take a look!
Figure your food category
Which food group does your recipe fall into? Even the most unusual dishes fall somewhere within a few food categories, and you have to evaluate your dish to work out which category it fits into best. Soups, salads, stews, casseroles – whatever it may be, categorize it.
What are the qualities?
All foods embody some delicious qualities, so what does your new recipe have to offer? There is a lot of recipe competition out there and so you have to evaluate your recipes to figure out the qualities of your dish. Is yours a gluten-free wonder or a low-fat fiesta? Either way, defining the qualities helps your recipe to stand out.
Finding a buyer
To sell your recipes, you have to find someone to buy them. You can take your recipes to cafes and restaurants, or you can create a cookbook of your best recipes and find cookbook publishers who will buy them from you.
Prepare a presentation
If you are putting your recipe toward a buyer, you need to come up with a presentation to showcase it. Make up a presentation or portfolio that talks about your background, and then incorporate the recipe idea you are pitching. You can also create a restaurant menu for your recipes and put it down to your presentation slides. Your current cooking resume should be included here, and the qualities and photographs of the final product should be included.
Set your prices
You don’t have to add your selling price in the presentation that you give to buyers, but you do need to set your price. Compensation negotiations often happen much later in the stages of selling your recipes, but you should know your desired amount of payment in case you are asked. When you have a letter of interest from potential buyers, you can start negotiating the sale of your recipe.
The very last thing that you need to do is contact buyers and start working with them to ensure that you can get a positive response to your new recipe. You should never offer listings of ingredients during your presentation, though, just in case of poaching!