Q: My husband is starting a cookie business and we are looking for some contacts of companies that will purchase the recipe for his cookie. Do you have any information?
K. King, Orlando, Florida
A: If you register at our Website (www.black enterprise.com), you can do a search for an article called “Recipe for Success” by Wendy M. Beech, which was originally featured in the August 1997 issue of BLACK ENTERPRISE. It covers a variety of issues regarding how to bring a recipe to the marketplace and make it a profitable business venture. Beech is also the author of Black Enterprise Guide to Starting Your Own Business (John Wiley & Sons, $19.95), which guides the reader through the process of building a business from the ground up.
It includes a listing of food industry organizations and other resources such as a book titled From Kitchen to Market: Selling Your Gourmet Food Specialty by Stephen F. Hall (Dearborn Trade, $28.95).
I spoke briefly to legendary cookie and cake goods entrepreneur Wally “Famous” Amos for additional guidance. He says that the most common mistakes made in starting a cookie business are not following basic guidelines. He offered these tips:
- Have a quality product.
- Know everything about your product.
- Prepare a solid business plan.
- Be prepared to work very hard, long hours for little pay.
- Surround yourself with people that know more than you do.
- Listen to advisors.
- Keep your ego in check.
- Be a team player.
