If you are planning to start a business, seek to treat it as a challenge. It requires engagement, and many of your hours. Although starting a bakery is quite simple and practically straightforward, due to inadequate planning and without a prospective preparation, several bakeries do not succeed each year. The first step a bakery entrepreneur should concentrate on is on the path to success, with these reasons. If ever you have no business experience, then seek these basic guidelines to follow when starting a bakery business.Have a look at www.emicakes.com.sg for more info on this.
- Before engaging in any type of business, it is best to first identify your vision in any form of investment simply by creating a life plan that incorporates your enthusiasm, especially as to how a bakery fits in with your personal objectives. Defining what you expect from your bakery also helps in writing the business plan when it is about time. Try to list all the positive and negative factors that might involve starting a bakery to see if the pros outweigh the cons.
- Upon developing a business plan they decide whether to start from scratch, purchase a business franchise or choose to buy a vacant bakery, whether it’s a ‘GO’ for business. Potential franchises include cafes like donut shops and pastries. While buying a bakery is the fastest way to become a bakery owner, be initiative about what the owner wants to sell for.
- Make an intensive research to the community where you plan to establish the bakery in terms of the need for a bakery, whether there are enough customers, whether there is an appropriate location, what products the market needs and whether you can provide excellent customer service.
- It is now the right time, after those listed above, to write a business plan consisting of the four main parts, a summary of the bakery, the strategic marketing plan, the management plan and the financial management plan. Try to organize yourself also in all the business activities you have.
- If you’re not in a position to start a business financially, get financial support to start the bakery. Different sources of financial support may include personal credit cards, deposits, personal investments, a bank loan, venture capitalists, government grants, small business loans, family loans or gifts, or an investment by an investor who does well in the market.
- When all is doing well, carry out pre-opening activities such as acquiring any licenses , permits and insurance available. It is also best to open a bank account, contract suppliers, establish utilities, buy equipment and hire and train staff. Organize these duties and, if necessary, hire individuals with a skill in these fields. Keep track of activities in an organizer or spreadsheet, and their progress.
- Eventually, make sure to generate interest in the bakery by putting up a sign as soon as possible and announcing the grand opening date before opening. Get business cards early, and distribute when interest is likely to be generated. Have a sample party as a family and friends pre-opening gathering, and give some treats that are beneficial to your bakery business.
To conclude, to have a profitable bakery company, make sure you’ve spent enough of your time thinking about what the best activity is to attract customers. Carry out a research on what are the moves your rival fails and introduce them in order to gain clients. Putting up a company is never a gamble if you only do your part on how to run it outstandingly well.