Whenever the time came to sign up for a bake sale everyone anticipated what you would put down. Is it cookies this time? Or is he/she changing it up and making a cake? Maybe a cookie cake? Who knows! One can’t understand the mind of this sugary genius. But now you want to take this hobby to the next level and evolve it into owning your own bakery. So what can you do to make this venture a successful one? That’s where these tips come in handy so you can have the highest chance of success possible.
Running a bakery is more than selling baked goods, it’s a way of life.
Starting your own bakery and making a living from your passion can be your way to financial independence. To put you on the right track and help you achieve your dream, we’ve put together a list of tips to help you along the way:
1. Decide on the Type of Establishment
What type of bakery are you thinking of running? Are you thinking of doing an online business? Maybe a little shop where people can come and sit down. Or will they stop by on their way to work or afternoon break grab one of your yummy cup cakes and go? Here are some examples of bakery types:
- Counter service bakery
- Sit-down bakery / Cafe
- Specialty bakery
- Online bakery
At the starting stage don’t try to do too much all at once. Pick your type of bakeshop, and put all your efforts into it. It may be wise to start with a bakery style that allows your clients to sit in. All that depends of course on the neighborhood you are looking to start your business at. You’ll figure out your flow after trial and error. Starting a business always means learning by doing and adjusting to the demands and needs of your clients. Whatever you choose to do, be consistent.
2. Have a business plan!
We just can’t stress this enough: You need to plan out your short term and long term goals and access your start up funds. Draft a business plan to guide you through and make sure you include crucial information like:
- Start-up costs
- Products & Services
- Target market
- Competition research
- Sales strategy
Read more: Business Financing for Bakery Shops
In addition to the above, budgeting will be your friend, because you’ll be pouring in more money than you’ll be making at first. Make sure to have a sizable amount saved up before you embark on this venture.
3. Location, Location, Location.
You wouldn’t want to be shopping in a neighborhood with a bakery in place already. They have a reputation, they have a customer base. You would not be a match. Consider opening your shop at a shopping mall or in a neighborhood without a bakery so you can carve out a niche in that community, a customer base that is solely yours.
4. Reach out to friends and family
Speaking of customer base, start out with those that are ready to cheer you on at a moment’s notice. They are your best word of mouth advertising. And we’re very confident they would be more than happy to help you succeed.
5. Be original
You remember what it was like to be looking forward to that bake sale, to see the smiles on the faces of your classmates when munching one of your awesome cup cakes. Keep that passion in mind when you start this business. Don’t lose that spark! Keep your originality intact! The beginning will be challenging, but if you keep working hard and never get discouraged things will ultimately work out.
Very few people are able to turn their hobbies into something they do for a living. Not many people have the determination to carry it out. That is not you. You have decided to work your dream job for a living. You have decided that you can do this. So don’t lose sight of that dream. Bake on!