It's no secret -- Americans have a sweet tooth. No matter their budget, consumers find a way to afford their favorite confection. Confectionery industry companies fill a niche market, but a very lucrative one. A confectionery may sell a small amount of a large variety of sweets while others specialize in a particular product. A chocolate confectionery practically sells itself. A candy confectionery may specialize in hard candy, taffy, caramel or other non-chocolate candies. Some confectioneries may specialize in pastries or ice cream.
Before deciding on the direction your confectionery company will take, study confectionery news and trends. Learn how governmental regulations dictate how you must operate your business. Learn the availability and costs of your raw materials. Find confectionery supplies and confectionery wholesalers. Study what other confectionery companies make or sell to avoid oversaturating a market. Many sources exist to discover this information.
1. Consider joining confectionery trade associations.
2. Keep up on the latest trends by subscribing to confectionery industry publications.
3. Identify news and trends on raw materials needed in the confectionery business.
Become a member of confectionery industry associationsJoin an industry association to keep up on confectionery news and trends. These associations watch developments in technology, manufacturing, regulation and other areas that impact how a confectionery does business. Take advantage of the contacts that these industries have already made to get your news.
Subscribe to leading confectionery magazines for the latest newsFind out the latest developments from confectionery manufacturers and suppliers in confectionery trade industry magazines. Such magazines make good sources of information on technological advances, regulations that may affect production, new products, training opportunities and other related news.
Look at the cost and availability of confectionery raw materialsThe American confectionery industry relies on a number of raw materials grown overseas. Keeping up on growing and trading news on commodities such as cocoa and sugar makes good business sense. Availability and cost of raw materials affects a business's sales and profit margins.
- The confectionery business relies on food products. Know and understand the regulations and practices involved in producing finished goods for consumer consumption. Study the availability of food products used in the production of your confections; watch natural disasters and other issues that may interrupt the flow of raw materials to your shop.