Business Gateway Growth Hub - Leicestershire Supporting Growth

Producers Guide to New Product Development and Costing

Event Information:

Type: Business Growth

Date: Wednesday, 8 December 2021

Time: 9:30am - 12:30pm

Available To: Eligible SME's

Member Price: FREE

Non-Member Price: FREE

Developing and costing out products for wholesale markets is an integral and essential part of the food and drink production. This action planning workshop will allow food and drink producers to start looking more closely at the processes involved in undertaking each of these important steps.

The workshop will be broken down into 2 sections, starting with how to embark upon new product development and taking you through the critical steps NPD Managers go through to get a product from an idea to the retailers’ shelves. 

The second part of the workshop will look in more detail how to cost out your product, with an opportunity to start costing out your product with the template provided. We will be welcoming a guest speaker to join us for part of the session to discuss their own experience of developing for a new market.

Who should attend this session?

Food and drink producers who are excited by the innovation of new product development and wish to improve the process they use for costing new recipes.

What will we cover?

  • NPD
  • Development of new products using the funnel method
  • Adapting and changing recipes
  • Ensuring there is scalability within NPD
  • Product Costing
  • How to accurately work out the cost of your products
  • What to include and not include
  • Introduction and completion of the product costing matrix
  • Provenance
  • The importance of provenance in food and drink production

What outcomes can you expect from joining us?
You will leave this webinar with a range of tools to help you:

  • Increased understanding of NPD processes
  • Ability to change and adapt recipes
  • Knowledge of how to scale recipes
  • Ability to accurately work out recipes
  • Information on what to or not to include in the matrix
  • Copy of the costing matrix
  • The Importance of Provenance in NPD

This is an interactive, action planning online workshop. You will leave this session with handouts and a practical action plan which can be implemented within your business. Where possible, we would like to encourage you to join this session with your video camera turned on and when instructed by the facilitator, you may un-mute your microphone to take full advantage of the interactive nature of the workshop. 

Who’ll be presenting this webinar?

Zoe is an innovative, experienced Development Chef, providing businesses with high-quality development support and knowledge they may not otherwise have access to. Working at The Food WorksSW has given Zoe a great opportunity to use her experience in the food industry to help SMEs at grassroots level to scale-up, learn about food labelling, costing of products and food trends.

This presentation is delivered in partnership with Business Gateway Growth Hub and Food and Drink Forum and is part-funded by the European Regional Development Fund. Places are limited and priority will be given to trading SMEs based in Leicester and Leicestershire.