Why Does Shelf Life Matter To A Food And Beverage Entrepreneur?
If you’re an entrepreneur or business wner in food and beverage, you know that understanding shelf life is crucial to your bottom line.
This video and article will answer these 3 questions so you eliminate embarrassment and understand this CRUCIAL element of your business:
- What is shelf life?
- How does shelf life affect your bottom line profit?
- What are the tools you can use to extend shelf life?
1. What is shelf life?
Shelf life is essentially how long a product lasts from when it’s manufactured to when it can be consumed, and therefore sold. We all remember a moment when we reached into the fridge for milk, poured it onto cereal and saw clumps pour out and sensed a sour smell. The milk had gone bad and therefore went immediately in the trash. This is a real life example of a product going bad because you kept it past it’s prescribed shelf life.
2. Why should shelf life REALLY matter to you as a business owner in the food and beverage industry?
Shelf life has a direct economic impact on the value of your business.
- REASON #1: Early spoilage of products means it can’t be sold plus additional costs like returns or disposal fees from your customer if they bought it and it went bad before they could enjoy it.
- REASON #2: Retailers make buying decisions based on shelf life so short shelf life results in less possible customers.
- REASON #3: You want your customer to have an incredible addicting experience with your product to serve them and build brand loyalty. If their first experience is spoiled, you can say by by to that loyal customer buying again.
3. What things influence shelf life – what tools do you have in your arsenal?
- ORIGINAL RECIPE
- CUSTOMERS INTENDED USE
- TEMPERATURE/MOISTURE CONTROL IN TRANSIT
IN CONCLUSION: The longer the shelf life, the more money you will be able to keep in your pocket. And the better relationship you’ll have with retailers and customers. Plus you will sleep better knowing your investment is protected and safe.
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MORE ABOUT EMILY PAGE Emily is CEO of Pearl Resourcing and has managed and launched multiple 7-figure brands in Costco, Williams-Sonoma, Kroger, and Amazon. She’s bringing you the expertise, resources, and mentors you need so that you can develop products and make them sell. She also offers business growth consulting (https://www.emilyannepage.com) and free advice for brand owners through START TO SOLD (http://starttosoldpodcast.com).
LEARN MORE ON THIS TOPIC:
Want to read more on the topic of shelf life? Here is another article on the topic with 3 ways you can use packaging to naturally increase shelf life: https://www.emilyannepage.com/post/3-ways-packaging-can-naturally-increase-shelf-life-food-and-beverage-1
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