Food is serious business–How to price your food product

You have in your possession a recipe that you know will make you no less than one million dollars, or at least one million friends. We all have one, and we all have some plan, however deeply hidden, that we will one day become a worldwide food mogul on the basis of our secret recipe (probably ripped off from our grandmother), just like the Winnipeg dudes behind Clodhoppers.

Courtesy of flickr user stigwaage

Thing is, one of the most important aspects of becoming a food mogul is knowing how that whole business thing works. It turns out it’s not enough just to have a killer recipe. On Tuesday, you’d serve yourself well to figure out a little big of that business business behind launching a successful food business.

Pricing 101 from Alberta Agriculture, Calgary Futures West and Cochrane Cookhouse will give you a quick lesson in how to price your food-based product. You’ll walk out of this class having a reasonable understanding of how to set a profitable price for you food product, or at least a reality check on the work that you’re going to need to do before you blow your life savings on launching yet another brand of salsa.

The class is only $75 for non-members, which is a pretty sweet deal, considering the thousands (or millions) that some lose on poorly-imagined ventures into the food marketplace. Get yourself registered on their Eventbrite page. It could be the most valuable $75 you ever spend.