If you have plans to start a business, try to consider it as a challenge. It requires commitment and a lot of your hours. Even though starting a bakery is quite simple and practically straightforward, several bakeries do not succeed every year due to inadequate planning and without a prospective preparation. With these reasons, the first step a bakery entrepreneur should focus is on the path toward success. If ever that you do not have any business experience, try this basic guidelines to consider in starting a bakery business.
1. Before engaging to any type of business, it is best first that you will identify your vision in any form of investment simply by creating a life plan that incorporates your enthusiasm particularly on how a bakery fits into your personal goals. Defining what you expect from your bakery as well helps when it is about time to write the business plan. Try to list all the positives and negatives that may involve in starting a bakery to see if the pros prevail over the cons.
2. After creating a business plan, if it is a 'GO' for business them decide whether to start from scratch, acquire a business franchise or preferring to buy a vacant bakery. Possible franchises include cafes such as donut shop and pastries. While buying a bakery is the quickest way to become a bakery owner, but be initiative as to what is the reason why the owner wants to sell.
3. Make an intensive research to the community where you plan to establish the bakery in terms of need for a bakery, whether there are sufficient customers, if there is a suitable location, what products the market needs and if you can provide excellent customer service.
4. After those mentioned above, it is now the right time to write a business plan that consist of the four major sections, a description of the bakery, the strategic marketing plan, the management plan and the financial management plan. Try also to be organized in all business activities you have.
5. If you are not that financially able to start a business, gain financial support to start the bakery. Different sources of financial support can be personal credit cards, savings, personal investments, a bank loan, venture capitalists, government grants, small business loans, loans or gifts from family or an investment by an individual who is doing well in the field.
6. If everything doing well, conduct pre-opening actions such as obtaining any necessary licenses, permits and insurance. It is also best to open a bank account, contract suppliers, set up utilities, purchase equipment and hire and train employees. Organize these duties and hire individuals that have a capability in these areas if needed. Keep track of the tasks and their progress in an organizer or spreadsheet. Know more here best cake delivery singapore
7. Lastly, make sure that you generate interest in the bakery before opening by putting up a sign as soon as possible and promoting the grand opening date. Get business cards early and hand out whenever probable to generate interest. Have a sample party as a pre-opening event for family and friends and offer some treats that is advantageous for your bakery business.