This business idea is interesting and it’s profitability rating is high. However, sequel to your question; please take some moment and read through the following discussed points:

1. Begin by conducting thorough market research to identify potential opportunities within the food delivery industry, such as specific cuisines or target demographics that are currently underserved.
2. Create a comprehensive business plan that includes your company’s mission, target market, pricing strategy, operational details, and marketing plans.
3. Secure necessary licenses and permits, such as a food handling license and any local permits required by your city or state for operating a delivery service.
4. Develop strategic partnerships with local restaurants, hire reliable delivery drivers, set up an online ordering system or mobile app, and launch a robust marketing campaign to promote your food delivery services to your target audience.

Generally, when there is a recession, there may be a reduction in the demand for goods and services as people spend less due to economic uncertainty. In response, businesses may lower their prices to attract customers, causing a decrease in general price levels, known as deflation. However, governments and central banks often intervene during recessions to stimulate economic activity by implementing expansionary fiscal and monetary policies. These measures, such as increasing government spending and lowering interest rates, can lead to an increase in the money supply and aggregate demand, effectively stimulating economic growth. If the increase in demand exceeds the supply of goods and services, prices can rise, resulting in inflation. Therefore, when governments take actions to counteract a recession, it can inadvertently lead to inflation due to the increased money supply and demand.

The ideal time for a business owner to resume work depends on various factors such as the nature of the business, industry standards, and personal preferences. Some entrepreneurs may prefer to start their day early, perhaps around 7 or 8 am, in order to take advantage of the quiet morning hours and be more productive. Others may find that starting a bit later, around 9 or 10 am, allows them to have a relaxed morning routine and better focus during the rest of the day. Ultimately, it is essential for business owners to find a time that suits their individual needs and ensures effective management of their business.

If someone aspires to own a business, I would give them the following advice:

1. Research and Plan: Before diving into any business venture, thoroughly research your industry, target market, and competitors. Develop a detailed business plan that outlines your goals, strategies, and financial projections. It will serve as a roadmap to guide you through the early stages.

2. Embrace Continuous Learning: Stay curious and constantly update your knowledge about your industry, market trends, and emerging technologies. Attend relevant workshops, network with professionals, and read industry publications. Building expertise and staying updated will help you make informed decisions and adapt to changing circumstances.

3. Build a Strong Support Network: Surround yourself with individuals who can offer guidance, support, and mentorship. Seek advice from experienced entrepreneurs, join industry associations, and collaborate with like-minded individuals. A strong support network can provide valuable insights, connections, and boost your confidence during challenging times.

4. Financial Management: Understand your business finances and keep them in order. Develop solid financial management skills to track your expenses, income, and cash flow. Create a budget, seek professional accounting support if needed, and aim to have a good grasp of key financial metrics to make informed financial decisions.

5. Adaptability and Resilience: Entrepreneurship is a journey filled with ups and downs. Be prepared to face challenges, setbacks, and uncertainties. Stay flexible and adaptable, ready to pivot your strategies when necessary. Develop resilience to handle failures, learn from them, and keep moving forward. Embrace a positive mindset and persevere through the inevitable obstacles that come your way.

Deciding to know your worth as a graphic designer and setting a standard for yourself is generally a good idea, regardless of the stage of your business. However, there are a few factors to consider before implementing this strategy, especially if your business is new.

1. Experience and Portfolio: Evaluate your level of experience and the quality of your portfolio. If you are confident in your skills and have a strong portfolio, you may have a better chance of attracting high-paying clients. However, if your experience is limited, you might need to build your portfolio further before targeting higher-paying customers exclusively.

2. Market Demand: Determine if there is a demand for high-quality graphic design services in your current market. Research local businesses and competitors to understand if there are enough potential clients willing to pay well for your designs. If the market is saturated or there is a lack of demand, it may be challenging to solely target high-paying customers at the early stage of your business.

3. Financial Stability: Assess your financial situation and determine if you can afford to potentially turn away clients who don’t meet your desired payment expectations. As a new business, it’s essential to generate revenue and establish a client base. Balancing financial stability with your goal of attracting higher-paying clients is crucial.

4. Gradual Transition: Consider gradually implementing this strategy rather than abruptly saying no to low-paying clients. Gradual transitions allow you to continue generating income while gradually focusing on higher-paying opportunities.

Remember, knowing your worth doesn’t necessarily mean rejecting all clients who can’t pay a premium. It’s about finding a balance that aligns with your goals, skills, and market realities.