So, you’re thinking of starting a baking business. In a world where people love the idea of a small, independently-owned business, you’re making an ambitious but potentially-lucrative move. To ensure that it’s more of the latter, here are a few tips on getting started:
Know Your Product (and Your Market)
Are you aiming to market to teens and children? College students looking for quick breakfasts? Families looking for all-occasion treats? Whoever your target audience is, you’ll need to identify them and cater to them with the products you make.
If you’re not open in the morning, consider going light on doughnuts and other breakfast pastries. If you don’t see much cake business, focus more on cookies and bread. Knowing what your making will help you simplify your trips to the baking supplier. Make sure you have the right baking supplies on hand to prepare the treats your customers are expecting, and you’ll see success.
Select Your Format
Today’s businesses are not all brick-and-mortar storefronts. Choose your selling format from one of the following, or create your model:
* Catering with a storefront.
* Catering without a storefront.
* Storefront, takeout only.
* Sit-down café style storefront.
* Made-to-order, by phone, online or both.
Again, knowing your product and your target audience will help you choose which sales model works best for you.
Create a Solid Business Plan
While setting up a baking business might seem like little more than checking off baking supplies and gathering recipes, you’ll need a foolproof business plan, as well. If you need help with this step, don’t hesitate to get it. Consult a legal professional or fellow industry insider to get the details you’ll need to create a workable plan for your company.
Set Yourself Apart
When you create a business that there is more than one of in an area – and when you’re a small bakery, you can almost guarantee that will be the case for you need to do something to set yourself apart from your competition. Use a unique theme, competitive pricing, and excellent products and service to make your customers eager to come back often.
