There are a lot of great reasons to learn how much does it cost to start a bakery, this guide shows you how to do it. It’s time to turn your hobby in to a profession. There is never a bad time to start a new company if you have a strong plan of action from the beginning. Take advantage of the current baking craze that is sweeping the nation; sales are expected to rise 20% through 2013 in the United States. If you are really serious about starting a new company, we recommend taking this course from Flex Business School.
1. Identify an area where you think you can develop a niche market like wedding cakes, birthday cakes, graduation cakes, retirement cakes, cakes with organic ingredients, anniversary cakes or low-fat cakes. The business experts we know recommend starting with a niche market because it’s a great way to get your foot in the door and build a name for yourself. Choosing something you can specialize in will help you build a foundation before you really jump in.
2. Ask neighbors, co-workers, or family members what they think about your products. It’s important to get the opinions of people you aren’t familiar with as well, their perception is often enlightening and can help you refine your recipes until they are perfect. Famous cake bakers like Antoine Careme, Buddy Valastro (Ace of Cakes), Jane Lockhart (Sweet Lady Jane), Duff Goldman (Ace of Cakes), Alexandra Guarnaschelli, or Martha Stewart will likely tell you that trial and error testing is the key to developing a thriving business.
3. There is usually a lot of competition from grocery stores and specialty baking shops which can make it hard if you’re just starting out. Social media is an area that is typically ignored by the big guys. There are a lot free business resources out there that will show you how to take advantage of blogging, Facebook, Twitter, LinkedIn, eBay, foursquare, and other low-cost marketing opportunities.
4. Make as much progress as you can through word of mouth advertising and other low-cost strategies. A great way to build some buzz is plan a free tasting with some local groups (churches, athletic teams, professional groups, schools, etc.). Let’s face it, who can turn down free sweets? The best type of advertising is a satisfied customer who will sing your praises to all their friends. Connect with your customers and take advantage of this buzz.
5. Write out your expenses and how you plan on making money. Don’t get bogged down here and write a novel, this is just a way to formulate your thoughts and plan effectively. You’ll want to identify all of your startup costs such as mixing equipment, ovens, wholesale ingredients, molds, and other specialty items. Brands like GE, LG, Frigidaire, and Maytag are typically less expensive than Viking, Cuisinart, Whirpool, and Turbochef.
6. A great choice early on is to bake out of your home or rent time in a commercial kitchen. Save money and build a clientele while you make a name for yourself like other baking greats such as Paula Dean, Ina Garten, or Rose Levy Beranbaum, author of The Cake Bible. This will give you the chance to experiment with a lot of different types of cakes such lemon cake, German chocolate cake, devil’s food cake, carrot cake, red velvet cake, angel food, bundt cake, butter cake , coffee cake, fruitcake, or sponge cake.
7. Save, save, save! Keep all of your profits early on and re-investment them in to the business. Top cake Things will be slow in the beginning but with dedication and time, you will be able to open your own TV show like the Ace of Cakes, Cake Boss, or Top Chef: Just Desserts.
American Bakers Association
American Institute of Baking
American Society of Baking
Retailer’s Bakery Association
American Bakery Expo
Cupcake Bakers Association
International Cake Exploration Societe
International Dairy-Deli-Bakery Association
International Baking Industry Exposition
Baking Association of Canada
International Association of Cupcake Bakers
King Arthur Flour
Kerekes Bakery & Restaurant Equipment Inc.