Profile
Start-ups, setbacks and the lowdown on launching your own business
Risky Business BY SUMMER DAILY
Photograph by Jennifer L. Rubenstein
S
tarting a business is a risk, and the food industry is notoriously tough to survive in. Restaurants open and close all the time. Business owners have to contend with health and safety codes, the sometimes-unpredictable habits of customers and the stress of putting everything on the line for this one crazy idea. Even well-established businesses occasionally have to fold, but there is good news: According to studies done by both the University of Tennessee and the U.S. Bureau of Labor Statistics, start-ups have around a 5050 chance of surviving. That means if you play your cards right and power through the inevitable setbacks, you can be one of the successes. But it’s important to realize that there will be setbacks. “Every business has unexpected challenges that come up,” says Tia Agnew, the co-founder and CEO of New Day Craft in Fountain Square, a local business that makes craft mead and cider. She has been in the business for 10 years and has run into her fair share of frustrations and obstacles, and she knows just how difficult it can be to make sure you have all your i’s dotted and t’s crossed. “The food-related industry has different regulations you have to contend with,” she explains. “Before starting my business 10 years ago, I came from a government-related background, so jumping into a regulated industry was a little bit easier for me, because I wasn’t scared of the mountains of paperwork I’d be filing, deadlines and all that stuff food-based businesses have to contend with. But in general, it can be a really scary part of being in a food-based business, because most of us don’t have that background. It’s a little daunting.” Rachel Klein, founder and owner of Revival Food Co., knows exactly what Agnew is talking about. Klein sort of stumbled into the food industry. After making her signature almond butter for her wedding favors in May 2014, she received an onslaught of requests from friends and family
edibleIndy.com
25
