COLUMBIA, Mo. — Expanding into new markets can create opportunity for food and farm businesses; but it can also stretch a business too thin if the timing or strategy isn’t right.
Whether expanding into wholesale markets, pursuing larger retail opportunities or strengthening a local customer base, every growth decision comes with considerations and tradeoffs, said University of Missouri Extension specialist Mallory Rahe.
This fall, MU Extension’s Local to Larger: Scaling Workshop for Food and Farm Businesses series will help entrepreneurs evaluate those opportunities and build a growth strategy that fits their unique business, Rahe said.
The free, hands-on workshops are designed to help established businesses understand what sustainable, profitable scaling looks like as they consider expanding into new markets, she said. “Every business has a different path to growth. These workshops will help food and farm businesses evaluate those options so they can grow intentionally and profitably.”
Combining expert insights with hands-on demonstrations and group discussion, the workshops will give participants information and resources they can use to evaluate decisions for their business. Led by MU Extension, the Missouri Department of Agriculture and consumer packaged goods expert Mark Rider of ScalePoint CPG, participants will:
- Learn how to use market research to better understand customers and opportunities across market channels.
- Understand what retail buyers and distributors expect, and how to build a profitable growth strategy.
- Practice using an interactive pricing tool to compare market opportunities and evaluate which channels support business growth.
- Explore Missouri Department of Agriculture programs that can help businesses reach new markets.
Designed for established food and farm businesses, the Local to Larger workshops will help entrepreneurs make informed decisions about when, where and how to grow, Rahe said.
In-person workshops will be offered at three locations across Missouri, with each session featuring the same content:
- Tuesday, Sept. 29 – Annie Busch Community Room, Springfield.
- Wednesday, Sept. 30 – Green Hills Library Center, Kansas City.
- Thursday, Oct. 1 – 39 North, St. Louis.
Participants should register for only one session. Laptops or tablets are recommended to take full advantage of interactive activities and planning tools.
“If you have an established business and are wondering how to reach the next stage of growth, this workshop is for you,” said MU Extension specialist TaylorAnn Washburn. “You’ll leave with tools, market insights and ideas you can put to work right away to help your business grow.”
Although these workshops are free to attend, advance registration is required.
University of Missouri Extension’s Agricultural Business and Policy specialists provide research-based education, consultation and training to help Missouri farmers, ranchers, landowners and agricultural entrepreneurs develop profitable, resilient and sustainable businesses that strengthen rural communities throughout the state.