~Have you always wanted to start your own bakery? ~Have people told you that your pie, cakes or cookies are so amazing that “you really should sell these!”
Start your own bakery successfully with these valuable tips to help you.
Get Experience In The Business It’s one thing to be a great home baker, but when you start your own bakery, you have to learn how to run a business. Every industry has it’s unique challenges. Work in a baking business to learn the ropes. If there are evening courses or online courses on how to run a baking business, consider taking one of those.
You might also want to take a course at a culinary institute. It will connect you with a tremendous network of people who really know the food business and help keep you on track.
Join The Industry Trade Organization Retail Bakers of America should be your first stop. It was founded in 1918 as a not-for-profit trade association with “approximately 2,000 retail bakeries, allied suppliers and other members is committed to the success of the retail baking industry”.
The Retail Bakers of America also sees itself as “a baker’s business partner connecting buyers and sellers—retailers and suppliers, as well as consumers and retailers—to build profitable bakeries”.
It’s mission is to “foster the community of retail bakeries providing a forum for exchange of industry and business information, as well as networking, learning opportunities and mentoring among bakers, future and existing.”
If you want to start your own bakery, the Retail Bakers of America might help you decide if your special recipes will take the cake!
Keep A Tight Budget At The Beginning If you read our review of what it takes to we included a sample budget. You’ll see that it can cost tens of thousands of dollars to open your doors.
Our experience with small business owners indicates it’s best if you have enough money to pay your personal and business expenses for 18-24 months. Start saving now. No bank is going to loan you money unless you have a high profile name or unless you can prove you can attract lots of customers.
Remember, banks don’t loan money when you need it! Small business funding tips are here to help you think about financing your baking dream.
Don’t underestimate how family members, customers or suppliers can help finance a business to get it off the ground. Also don’t forget when you start your own baking business, you can have very high fixed expenses before you even open your doors. The tip below is one great way to save tons of money in upfront costs.
Rent Instead of Buy Mi Kitchen Es Su Kitchen allows aspiring bakers to rent large, commercial kitchens on an as-needed basis. You would have access to state of the art equipment like: ~Industrial mix masters ~Large marble tables for rolling out dough ~Twelve burner ranges ~Industrial ovens and dishwashers
All this without you having to buy them. This is a crucial way you can save tons of money up front until you have a loyal following and predictable revenues. And if you do speak to Katherine Gregory who runs Mi Kitchen.. tell her Dawn sent you!
Start Small and Test When you start your own baking business, it’s best to start small. Test the market. Do they love your cake or are the cookies selling best? Let the market and not your personal preferences tell you where the real demand is for your product. Test every flavor and configuration you can think of. See which ones at what times of the year do well for you. You’ll always be surprised. It’s never the flavors you think!
Consider Wholesale Before Retail You might also decide to sell your baked goods as a wholesaler at first. It’s a cleaner business model where you don’t have to pay sales tax on every transaction. You can also build your reputation and sales volume faster.
Find a restaurant that could gain an advantage by having your spectacular baked goods. Find a caterer who could get top dollar for your goods. Build an income base. From there, you can expand.
Our articles on how to start your own baking business, we’re going to explore ways you can attract new customers and to drive revenues.
Save red velvet cupcake for me! (The cream cheese frosting is my favorite).
Need more tips for strategy to start up your business?Check out our series on how to start you own small business here.
Download our cash flow management for small business whitepaper. It’s free.
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