There’s never a perfect time to start a business, but how can you future-proof an entrepreneurial endeavour from economic disaster?
We’re here to share a rather interesting case study from an office fruit delivery company that has bucked every trend through some of the worst business conditions in recent memory.
Read on to discover how Fruitful Office has thrived in the most challenging trading environments and how to apply those principles to your start-up.
Tip One: Find Your Niche
First things first, “do your research” says Fruitful’s founding director Vasco de Castro.
- Launching a business in a crowded market doesn’t work.
- Recreating an existing service or product doesn’t work.
- Competing against mega corporations doesn’t work.
There were almost six million SMEs in the UK in 2020, so you need to be unique and won’t be first in, first out if the economy tanks.
Case Study Example:
Fruitful Office was born in 2007 from one drive: to make fresh fruit a staple in every London office. This concept arose when the founders saw the disastrous attempts of a previous employer to provide fresh fruit as a perk.
They saw that nobody else was doing it and came up with a niche. The same idea as a startup in 2021 is a whole lot less viable as the market is now very competitive; you’d be going head to head with well established market leaders with over ten years of experience.
Tip Two: Play the Long Game
It’s easy to go for the low-cost, high-return business model – but around 60% of businesses go bust in three years – so you’ve got to look beyond the immediate horizon.
Case Study Example:
Our case study is a great illustration. They deliver fresh fruit, let’s not forget, so not a straightforward supply chain where products are stored for months in one warehouse.
They put the work in, created networks of suppliers with collaborative relationships, supporting local businesses in each region and guaranteeing quality.
Was it the cheapest option – no.
Was it the best? Well, over 14 years, Fruitful went from one London depot to supplying 5,000 customers a week across the UK, Ireland and Europe, so we’ll leave it to your judgement.
Tip Three: Stay True to Your Values
In today’s world, business ethics are on equal footing with quality and value.
Think about what you stand for, and consult that ethos every time you make a decision.
The more your start-up is grounded in integrity, the less room you give yourself to stray away from your central goals.
Case Study Example:
Fruitful Office showcases this in spades:
- They offered staff training, opportunities, and a supportive environment that showed they cared from day one.
- When the pandemic hit, the business pivoted, offering home delivery fruit baskets and sending free donations to NHS teams working on the frontline.
- They invest in philanthropic projects like planting over 11,000 trees in Malawi to support family enterprises and benefit the environment.
These actions foster goodwill, improve customer loyalty, and demonstrate a business that isn’t going to fold at the first sign of trouble – but double down on their purpose and passion and find a way to keep moving.
If you’re one of the 65% of UK employees who dream about starting a business, each of these tips is priceless.
Find a niche, put in the groundwork, and respect your fundamental values in every business decision you make. Your chances of survival, even in the worst of circumstances, increase exponentially.
