How to Open Your Own Bakery

An incredible number of people have given up perfectly lucrative careers to start bakeries. The desire to start and run a bakery stems more from a desire to unleash creativity than from a burning need for money. While a bakery business does make substantial profits if managed sensibly, even the most flourishing bakery takes time to break even and turn in a profit. Besides, it's not something that you can leave to others to manage. You need to be a phenomenal baker yourself and be willing to put in long hours of work.
To have a successful bakery you'll need to be both an excellent baker and a smart business person. Many people who open bakeries are fantastic bakers but only mediocre business people. If your business acumen is weak, consider buying a bakery franchise. That way you won't have to reinvent the wheel. You could also buy an existing bakery, instead of starting one from scratch.
Take the time to write out a detailed business plan. Analyze the current market for a new bakery, and determine who your best customers to be. Take the steps necessary to secure adequate funding. Hire a lawyer and an accountant to make sure you don't make any mistakes early on.
Your next priority should be to pick a location. You need to balance high foot traffic against an expensive rent. Also consider how large your client base will need to be. You'll need about 1000-2000 families to make a go of it. If there are already several successful bakeries in your area you may need to specialize, or get ready to handle the competition.
Never mind the size of your bakery, your decor should be pleasing to the eye. The lighting and array of your products should be just right to capture interest. Before purchasing any equipment consult a professional to make sure that they're in good working condition.
Start advertising much before the grand opening. Hand out leaflets and brochures and get your business cards printed. You could also put up a banner about the impending opening of your bakery. Have a small party before the main inauguration to promote your bakery and spark interest in potential customers.
If you need to start small, consider starting your bakery in your home. Your overhead will be less, which can help with cash flow when you first start out. But if you're not going to have a retail location, you'll need to make partnerships with local restaurants, coffee shops, and possibly even other local bakeries.
As far as pricing is concerned, price your products reasonably to cover costs and provide for a decent mark-up. Avoid pricing them too high as this will drive you out of the market. Pricing them too low, on the other hand, is also a mistake. After all, you do want to make some money out of your bakery.
Operating a bakery requires a great deal of work, thrift and planning. But it can also be very gratifying when you see your dreams turned into reality. With the right dose of effort and skill you can have your cake and eat it too.

Article Source: http://www.articlegoldmine.com

Pamella Neely writes about how to open a bakery for www.StartABakery.com.

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