FIVE REASONS TO START A VEGAN BUSINESS

Vegan Business

If you are reading this post, it means you are possibly interested in starting a vegan business, or maybe you are just a curious vegan searching for interesting posts. Whatever the reason, vegan is the trending lifestyle! With the creations modern inventions and an increase in the rate of ill-health in our community, people have come to realize that one of the best ways to remain healthy is to go vegan. The rate at which the demand for vegan food will increase is undoubtedly massive.

According to Nielsen, a researcher for the Plant-Based Foods Association (PBFA) the sales of plant-based food in the US increased a whopping 8.1% last year, topping $3.1 billion, and is predicted to keep rising as time goes by.

Almost every year, vegan companies are steadily developing plant-based foods that are tempting even to meat lovers. Still in need of more validations? Well, consider the following reasons why you should consider starting your own vegan business.

Increased Profit Margin

It is either now, or never! Just like starting many other business, creating a vegan brand comes with a lot of uncertainties; what is the market share in my area? Is this just a fad? It’s perfectly fine to have doubts, but with a strategically thought out and well-managed vegan business, your profit margin can be positioned for success for both the short and long term. Most people think owning a vegan business is solely based on food, which is not true. Many industries have adopted the vegan lifestyle with the sole aim of incorporating vegan into their products, top Industries like fashion designing, beauty products, and even condom manufacturers.

Top beauty brands have started removing animal-based products from their products. Last year, Hour Glass Cosmetics announced that by 2020 all their beauty products would be strictly vegan. Tesla is also reported to start making use of vegan leather for their cars. So with proper management, your vegan business will continue generating profit for you.

It’s The New Way of Life

Vegan is not just trending; it has gradually become a fun lifestyle for many people. Seems like saying “No, thanks! I’m a vegan” has become an anthem for a lot of people. With celebrities hopping on the vegan wagon, it is almost a certainty that their followers will do same too. During her Coachella preparations, Beyoncé announced she was going on a vegan diet for 22 days and urged her 112 million followers to do same. She also has assisted in launching a vegan meal delivery service.

Everyone who knows Ariana Grande knows that she is a vegan. During an interview with the Mirror, she explained how her love for animals is more compared to what she feels for humans. Jennifer Lopez and Liam Hemsworth are celebrities who always like to talk about how healthy their life has been ever since they adopted veganism. How does this affect vegan business you may ask; the few celebrities listed earlier have millions of followers around the world and it’s an ever-increasing fandom. There is a high tendency most of their fans would adopt the same lifestyle which is extremely good for vegan business because the customer base keeps expanding.

Positive Impact on the Society

In 2017, Melissa Vanderhorst launched Vegan Kids Magazine for vegan and vegan-curious children. In her own words, she said “Starting a vegan business puts you at the heart of the movement by encouraging a vegan world that knowledge in itself is incredibly rewarding.” All that matters is how much you have been able to impact on the people around you. A man’s success is not measured by how much he has but by how many lives he has touched positively. Starting a vegan business would be your way of encouraging a healthier society, you would be promoting healthy living, doing what you love and at the same time making money for yourself. With a successful vegan business, you will not be able to quantify how many lives you’ve positively affected so far; but the fact that you encourage healthy eating is extraordinarily satisfying.

The Big Players Are Coming On Board Too

Bill Gates, Leonardo DiCaprio and Twitter co-founders Biz Stone and Evan Williams are some of the top investors who have decided to invest in the vegan market. And we all know that whatever Bill Gates sees as a right investment opportunity is indeed is a proper investment choice to make. JMK Consumer Growth Partners invested $6 million in a Vegan business known as Miyoko’s Kitchen. According to CB among the 15 most funded food and beverage startup, seven of them are plant-based. With all these numbers, can you now see that now is the perfect time to start that vegan business you’ve been thinking of? Consider this last point.

Creating solutions for meat lovers

You know how difficult it can be for meat lovers to take on veganism right? Well, the tables have turned! Beyond Meat has created a product from plant protein, pea protein isolate and more that allegedly tastes like chicken. Beyond Meat is making it possible for die-hard meat lovers to start crossing over to the vegan side of life. In June 2018, KFC announced its intention to test the vegetarian fried chicken in U.K. next year; people have already begun referring to it as “Kentucky Faux Chicken.” It sounds unique, but news like this can transform the mind of meat lovers into considering veganism. Impossible Foods are not left out either as they have created a plant-based burger that smells and tastes like the real thing. Ingredients include wheat, coconut oil, potatoes and an ingredient called heme. In certain areas, White Castle has already started distribution on the Impossible Burger, while McDonalds has announced that McVegan would become permanent in both Sweden and Finland. At the time of this post I saw an online petition requesting that the McVegan be brought to the USA. So the demand is real and seems to be growing with pace.

In conclusion before starting a vegan business be sure to carry out and conduct your own detailed due diligence and full market survey of the product or service you that are interested in. As you can see the Vegan business offers tremendous promise across a broad area of interests and categories. We welcome your feedback.