Pot Belly industry is a market where both the buyers and sellers are located. It has been expanding and has evolved into a business which deals in bulk sales without any middlemen. The name pot belly came from the humble roots of this business which involved trade in rural markets such as farmlands and villages. The word “pot” refers to the containers in which agricultural goods are transported while “belly” implies that they are meant for consumption by humans or animals alike, hence the term pot belly market. That is why even the potbelly menu can be made nutritional.
How did it start?
Pot Belly industry originated in Japan during the period when the country was still experiencing its feudal system. This market enabled farmers to sell their products directly to the consumers which gave them a chance to earn more as they were saving from the cost of middlemen. It made it possible for farmers to earn double or triple of what they would have earned if they had gone through middlemen.
Pot belly industry boomed in Japan and other Asian countries where other similar systems like “Central Marketing Organisations” were put into place.
This market has changed very significantly with the advent of technology. The advent of the internet and I-phones has made it possible for farmers to sell directly to consumers and be their own marketers.
Pot belly industry is a very good source of income for the youth and small scale business owners since it is a direct way of selling their products. Most youths find the pot belly industry interesting because it does not require any special qualifications or certificates to start selling on it. Small scale business owners use this market as an alternative when they experience difficulties in selling their products through other markets.
How has it grown over the years?
Over the years, this market has reached out to many regions and countries like America, Canada, Europe and some parts of Asia. The reason behind this expansion is the increase in the number of middlemen during the past few decades. It is difficult for small scale business owners to sell their products in markets where there are a lot of middlemen because these middlemen usually pay much higher prices than what the farmers are able to charge their customers. There are also a lot of intermediaries involved which makes it difficult for farmers to reach out their products directly to consumers.
Pot belly industry has been growing at a very fast pace over the last decade or so and it is expected that this market will continue doing so in the near future as well. The growth of this industry has made it possible for farmers to earn more money.
What are the benefits of this market?
The primary benefit of the pot belly industry is that it is very much focused on the business aspect of it and not so much on other decisions that are required by consumers. The farmers in markets like these usually deal with wholesalers but they do not demand anything from them because they want their products on the shelves as soon as possible, rather than checking quality and other details. This way, there are no chances for wholesalers to manipulate these small scale farmers since this market does not have any intermediaries to cheat them. This is the primary reason behind the growth of this industry.
Another benefit is the low costs of transportation and other expenses that are involved in it. Small goods in the pot belly market do not require any container which makes them easily available for transportation. This allows farmers to save on their expenses since they do not have to spend a lot when transporting their goods across long distances as it is very much possible for them. This also makes transactions easy for buyers because there are no intermediaries that are involved which makes payments simpler and faster.
The best part about the pot belly industry is that there are no taxes on these goods and they have a low price tag attached to them which makes it more attractive among consumers.
What are the challenges faced?
Pot belly industry has a lot of positives but there are few challenges as well. These challenges make farmers face a lot of problems while trying to sell their goods in this market.
The first challenge is counterfeit products and products that are not up to the standards of consumers. This problem arises because of low economic development in many developing countries since a large number of customers tend to buy cheap goods at the cost of quality which makes it difficult for good quality producers to sell their products on these markets, thus making it difficult for them to sustain themselves.
This problem can be solved if there were effective laws and regulations governing trade and commerce on these markets.
What lies in the future?
Pot belly industry has a bright future ahead since it is the quickest way of selling goods and services in large amounts. It is possible for farmers to earn a lot of money by just selling their products in these markets.
The future also looks very promising for this market because it is a definite way for small scale business owners to keep their businesses running and growing.
This market has clearly defined rules which make it very much attractive among buyers and sellers across the globe, thus making them invest more on developing it further. In the near future, the pot belly industry looks set to reach out to even more countries and regions.
Summary:
Pot belly industry is a very promising market for both small scale business owners and farmers. This market is based on business practices and ethics and does not involve any hidden agendas which makes it much easier for both buyers and sellers to remain honest with each other.
This market has a very bright future since small businesses have shown interest in investing more in this industry by selling their goods through it. It is also clear that technology will play a major role in this growth as it has already started showing its impact.
The best part about the pot belly industry is that farmers will be able to earn more money if they start taking advantage of this opportunity instead of selling their products directly to middlemen who charge much higher prices.
