Aquaponics market potential survey

[Desmond]

Hello,
Desmond from Watertown, Wisconsin. I am new to the forum. Three in our family are considering an aquaponics farm at our old 5 acre farmsite.

I want to do a market survey of the Madison/Milwaukee area. Looking for sample questions to ask restaurants and other potential buyers of aquaponic veggies and fish.

I want to determine if there is a strong market and for what veggie and fish products and ideally what they are currently paying.

Has anyone seen or created such a survey?

Thanks, Desmond

[davidstcldfl]

Hi Desmond, Sorry, I don't actually have a 'survey' of questions. It does sound like you got the right idea....asking what they want and need.
Don't forget about fresh herbs. I'm trying/raising some edible flowers for garnishes, for restaurants.

The frequency, time of day and volume of the deliveries, that they expect, are pretty basic. Of course, you know to 'push' the local grown...low miles...fresh concept, and of course NO pesticides.


Good luck ! ...let us know how it goes Desmond

[rfeiller]

Welcome and good luck with your program

[urbanfarmer]

Desmond you are definitely going to be successful with that kind of thinking! I commend you for doing it right as most people don't bother with researching their business model prior to actually being in business (and often prior just before they are OUT of business).

You probably don't want to have a restaurant rely on you 100% for their supply of anything. You want to approach the restaurant in a way that they have NO RISK. Tell them you don't want to supply them with more than 20-25% of their supply for any item. That way they can keep their current vendor relationships intact, and if there is a problem with your harvest they don't have to suffer or lose business because of it. This also minimizes YOUR liability. Anyway, now they have a way to "try" your product and a safety net in case anything ever happens. It's just business for them, right?

You actually have 2 target audiences when approaching a restaurant. Your first target is the purchasing manager. Of course they would be interested in a better product, but often they are interested in a cheaper product for the same quality. Since we NEVER compete on price, you need to convince this person that you can provide a BETTER quality product for the same price. This includes better customer service, a better relationship, and of course a better veggie. A very popular benefit you might be able to provide is MORE deliveries. Sometimes their supplier might only deliver once every 2 weeks or once a week. Maybe you can do better thereby providing the produce fresher and more often... they love this! Your second target are the chefs. These guys tend to have a passion for cooking and quality ingredients. To them, cost in not a big issue in their mind. By providing some free samples and talking to them directly you may be able to create a long lasting relationship. Here in Florida, we have had some BIG BUSINESS type places open up in Orlando. They decided to actively seek out locally grown foods for their restaurants. What has happened is these guys are buying up 80-90% of the available supply in our local markets leaving NOTHING for the already existing demand. As a result, there is a void in our central Florida market for locally grown foods. Anyway, I digress.

The information you want is simple. What are they buying now and for how much? With that list in hand, you can check for the top 10 most costly items for them. From there, you need to determine WHY do these items carry a higher price tag? Is it because they ship them from the other side of the world and that makes them expensive? Is it because it can't be grown in the US or there is no supplier locally? Or is it because it is hard to grow and takes 4 years to get a mature crop from the plant? If you can identify competitive advantages from this line of thinking, you can determine which of the items they purchase can have a significant profit for you. These are the things you want to grow.

I can go on and on, but I think that will give you a starting point. We really need a business start-up section on this forum! LOL

[JCO]

Welcome to the show....pull up an easy chair, relax and stay awhile. New voices are always a welcome addition to our family..! Whatever questions you have on you mind, this is the place to get the answers so pick a topic of your interest and start your own thread and Enjoy. Please go to your profile and put in the city in addition to the state where you live, there may be members close by.

[urbanfarmer]

Many people who lack farming backgrounds are being sold the idea that it’s an easy career path that will yield bountiful profits.

“People who have never farmed, never been in the business before, never raised fish before, are told just feed them in the morning and feed them at night — there’s plenty of downside to it,” said Glenn Martinez of Olomana Gardens in Waimanalo, HI.

http://www.bizjournals.com/pacific/stor ... tory7.html

[badflash]

Wanna make a million in Aquaponics? Start with 2 million...

[15mules]

See that is the kinda information we need, informative and to the point.
Urbanfarmer, thanks for that rundown on what questions to ask and what to look for in doing market research for starting a new AP business. That will be very helpful to many people wanting to start a successful AP career, although it does seem like alot of stuff to do.

badflash, Thats what I am talking about, a informative and to the point way to be successful in AP, now if I can just come up with the 2 million, I'm in business.

[Roger L.]

The survey that you do can be a starting point but be sure they know you will not be delivering the next week. It takes time to grow the produce and fish. Once you have made contacts with potential clients become a fairly consistent customer of theirs. I always preferred to do business with someone I knew than the "glad-handing" slick sales rep that he only sees when there is a profit to be made. Be sure to see your contact while your there and continue to probe for new things they may need, it might be something even you have not considered.

Welcome to the forum and best of luck with your venture.

[urbanfarmer]

See that is the kinda information we need, informative and to the point.
Urbanfarmer, thanks for that rundown on what questions to ask and what to look for in doing market research for starting a new AP business. That will be very helpful to many people wanting to start a successful AP career, although it does seem like alot of stuff to do.

badflash, Thats what I am talking about, a informative and to the point way to be successful in AP, now if I can just come up with the 2 million, I'm in business.

Thanks! I just want to point out those posts are over 2 years old though!!!