If you’re in search of a new business to go into and invest in, the food industry is a very lucrative one. You can decide to niche down and go into the bakery business because it meets the daily needs of people. Every day not less than a million buy food for different reasons.
You can commercialize your cooking skills or even learn them and then turn them into a business. It is a large market and people with no culinary skills are also thriving in the industry.
This article will explain all you need to know about starting and running a successful bakery business. It’s important to know that before you start any business at all, you’ll need the estimate of all you need to keep the business running and make a profit.
Generally, getting standard bakery equipment requires a lot of capital and investments. Here are a few of the costs that you should prepare for:
• Public Equipment
• License and certification
• Marketing
• Miscellaneous expenses
These are just a few of what you should prepare to spend on.
But before that, you need to know the type of bakery you want to run. Some people focus on baking bread alone, cakes, pastry, and other things. You can decide to start a retail business or own a wholesale bakery.
Most bakeries are retail. They send directly to consumers and there are a lot of niches in the retail bakery. You’ll find below some of the retail bakeries that you can choose to start.
1. Traditional Bakery
As the name implies it’s a kind of bakery that involves baking bread, biscuits, cookies, and a lot more. For example in a place like Nigeria, baking bread will thrive as long as you know your audience and you satisfy them with quality. You can even begin to make different kinds of flavors like Banana flavored, Coconut flavored, Chocolate flavored, and so on.
Almost everyone in Nigeria eats bread and you have to maximize that fact and ensure yours isn’t like others, use your creativity to the rescue.
2. Pastry Shop
Another thriving niche is the making of pastries. Fast food is now a thing and everyone needs different snacks that they can use for a quick filling. You can choose to begin to make different kinds of snacks like sausage rolls, chicken and meat pies, doughnuts, chin chin, Buns, puff puff, and so on. To do this you don’t even need much capital, start small and begin to grow as you gain.
3. Specific Bakery
As the name implies this kind of bakery focuses on a particular baked food. They don’t diversify and they ensure that they gain mastery in the food they’ve chosen. An example is cake baking, cakes will forever be a thing and most cake bakers just do cake alone. There’s hardly any season without celebrations, anniversaries, and parties.
All you need to do is ensure you get the accurate knowledge that can help you thrive in that niche as well.
Now To Wholesale Bakeries
As the name means, wholesale bakeries are involved with a larger consumer and they also sell to retailers that they sell to their final consumers. You can choose the particular kind of niche you want to begin to do your whole sales and then keep building your bakery business.
Another important thing you must do to start your business is to register it with the association or corporation involved with legalizing businesses.
You’ll need some amount of money to do this because it proves to your customers and intended customers that your business isn’t a scam and this can help you build trust with your clients.
The next important step is to have a business plan. This plan should contain the highlights of your goals and objectives and how you intend to achieve them as well. A good business plan should have descriptions of how it would go, have an analysis of the industry, and do market research.
It should also contain financial estimates and other miscellaneous needs. A solid business plan is needed to secure funding from investors and other capitalists hoping to invest in the long run.
Another important step is to have the list of equipment you need to start your bakery business. Depending on your niche this might vary but you may need to hire someone with experience if you’re just starting with raw knowledge.
Here are a few pieces of equipment you may need for your bakery business:
• Oven
• Mixers
• Baking materials and sheets
• Trays and pans
• Flour sifters and measuring equipment
• Top work table
• Refrigerator
And other miscellaneous items.
Next time after this might not necessarily be compulsory because of your niche. You may or may not need to rent a space for your bakery business. For example, if you’re starting a business you may choose to do so at your home and do deliveries.
You may not need a large space if you’re just starting and just creating an online space and focusing on building your customers online. On the other hand, if you’re going for a traditional bakery that would need a commercial space, you’ll need to rent or build your shop.
In addition to this, you’ll need a location that is near your target audience, a nice place where there’s a high traffic of people that you hope to render your services.
There are other things to consider when choosing a location for your business and some of them include:
The accessibility to the space
How easy is it for your location to get discovered? Competition from other related businesses.
Health regulations
How safe are the environment for food making and delivery?
Safety
Is the location safe from crime and safe for customers?
Your bakery or shop must be located far from drainage areas and factories that can cause pollution. Every worker should get a change of clothes and the space must be adequate to host your supposed number of workers and customers.
You should also install safety equipment and precautions to keep your business and workers safe from accidents. It is important to get ready to market and go all out for your business.
Having a bakery business like every other business needs dedication and care.
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