Spotting a gap in the market, Ciara Troy decided to set up her own business, Oishii Foods in 2006 with the aim of sharing her love of Japanese cuisine with Irish consumers. Most known for their healthy and delicious range of ready to eat Oishii sushi products, other products include their award winning teriyaki sauce, brown rice salads & their range of ‘heat to eat’ noodles. Now supplying over 120 retail outlets in Dublin and select stores nationwide from their approved production kitchen in Smithfield, more recently the business has expanded to supply a number of stores in Northern Ireland and has plans to develop new products geared towards export.
In addition to supplying retail outlets and foodservice, in 2015 Oishii opened its first Oishii Sushi kiosk in Morton’s on Hatch St, Dublin 2. Based on the concept of ‘Rolled Today, Sold Today’, this fresh and healthy offering has been a very positive addition to the business and emphasises Oishii’s commitment to quality, freshness and innovation.
Oishii Foods will be celebrating 10 years in business this July and Ciara Troy attributes much of the growth and success to the support received from both the Wicklow and Dublin City LEO’s over that time. The business has availed of various mentoring supports, a capital grant in 2012 and an employment grant to assist during a busy growth stage. Oishii Foods now has 16 employees and expects to increase staff numbers over the next 3 years.
Ciara Troy explains how she set up her business, her experience with Wicklow and Dublin City Local Enterprise Offices, and gives advice to those interested in setting up a business.
Why did you decide to set up your own food business and how did you go about it?
I am passionate about food generally, but having had the opportunity to study and experience life in Japan, I particularly wanted to share my love of Japanese cuisine with a wider audience.
I felt there was a lack of Japanese products available in Dublin and hoped there would be a gap in the market for what I had to offer. Back in 2006, the easiest and most affordable route to market was to make all my own products and sell them at various farmers’ markets in Dublin.
How did your early experiences of working at Farmers’ Markets prepare you for the road ahead?
Selling produce at farmers’ markets allow you direct access to consumers – their honesty, feedback and repeat business was invaluable.
There is no point in having a great product idea if it is not what the customer wants. Listening to your customers and tailoring your offering to meet their needs is key. I started with a range of Japanese dishes, but it quickly became evident that the demand was for sushi. I focused in on this food type and then experimented with variations to see what worked best.
These selections formed the basis of our first retail offerings. The markets prepared me for competition, for hard work and that you had to keep going week in and week out regardless of the conditions.
How did you raise the start-up funds you needed?
I jumped into the food venture so quickly I didn’t raise start-up funds straight away. I had worked my way through college and used whatever money I had to buy second hand equipment.
It was definitely a good way to test the market and it’s amazing what you can do with very little! But it’s not a good way to get where you want to really go long term – it was a real struggle and I felt a lot of pressure. Any money made from sales was going straight back in to buy ingredients and packaging for the following week.
I was surviving week to week and the markets are very physically demanding. It was only when I took a step back from it all and made a plan of where I wanted to go with my business idea and what was needed to get there that I could move forward with confidence. Over the years I formed good relationships with the bank, the credit union and my Local Enterprise Office. I took out personal loans, then business development loans and also received capital grant funding from Local Enterprise Office Wicklow (LEO) once my business plan had been completed and reviewed.
What part of your business do you feel you best excel at?
Because I believe in our products and have such a passion for Japanese Food, I’m very good at coming up with new product ideas, I just don’t have time to turn all of those ideas into reality! I would also say my strengths lie in sales & business development.
What have been the biggest challenges in your business to date?
Money…making it, getting it in, holding on to it! The retail arena is tough & with products as perishable as sushi, there have been some stiff lessons. Margins are tight and outlets demanding and to keep products onshelf without incurring high wastage requires constant vigilance.
What was the best piece of business advice you ever got?
I have found Blaise Brosnan’s advice invaluable from attending his Management Development Course (also funded by Wicklow LEO). He stressed the importance of working smarter, not harder; the importance of having a good team of people around you – that if they’re not making you money or saving you money, they’re costing you money!!
What advice would you give aspiring entrepreneurs thinking of starting a business?
I would advise them to research the area they’re thinking of getting into. I found tools like SWOT analysis to be simple and effective. Use the resources available to small / start up business (e.g.: Enterprise Ireland, Local Enterprise Offices, other relevant government agencies – Bord Bia & the Food Safety Authority are brilliant resources for food companies) and put it down on paper what you plan to do. It’s true what they say: ‘if you don’t know where you’re going, how are you going to get there?!’
How has Wicklow and Dublin City LEO helped you and/or your business?
Wicklow LEO offered numerous supports in the first few years. They helped me with my business plan which was needed to apply for grants. I availed of mentoring & also a capital funding grant which I used to purchase necessary equipment.
Taking part of the Wicklow Enterprise Awards and winning the Company Award in 2009 was a huge boost for the business.
We have also been very thankful for the support of the Dublin City Local Enterprise Office. In 2012, we moved from our Bray premises and did a complete fitout in Smithfield (Dublin 7), all of which wouldn’t have been possible without LEO Dublin City. Prior to the move, we applied for our second Capital Funding Grant as well as an Employment Grant which really helped with the business expansion.
More recently, the Dublin City LEO and their Women in Business Network has continued to support Oishii Foods by inviting me to participate in various Enterprise and Start your own Business events. This year, I was delighted to be a speaker at their International Women’s Day event on 8th March and to be a part of an amazing panel. Such events have been a great opportunity for me to share my story and hopefully inspire others to follow their dreams.
For more information
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Find out more about Oishii Foods.