How to Become a Bakery Owner

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Starting any business is a major challenge and will require long hours and dedication. Though establishing a bakery business is quite simple and somewhat straightforward, a lot of bakeries fail every year because of lack of adequate preparation and inadequate planning. With these first couple of steps on how to become a bakery owner, you will be on your way to success.

Starting a Bakery Business

One of the best ways on how to become a bakery owner is to first be well aware of your vision for your bakery. You will need to identify the vision you have for your bakery by simply coming up with a life plan that will incorporate your passion and if your bakery fit into your life’s objectives. Knowing your expectations with the opening of your bakery will also help you when it is time to write out your business plan. Make a list of the pros and cons involved in owning a bakery and find out if the positives outweigh the negatives.

Make up your mind whether you want to start your bakery from scratch, buy an existing bakery, or purchase a bakery franchise. Possible franchises includes:

•Donut shop – Krispy Kreme franchise
•Café – Panera Bread franchise
•Specialty Pastries – Cinnabon franchise

Purchasing a bakery is the fastest way to become the owner of a bakery, but you will need to be wary as to why the owner wants to put up the bakery for sale.

How to become a bakery owner also involves carrying out some research in the community where you want to establish the bakery in terms of target market and the need for a bakery. Find out if there is a good location – and by good location, we mean, a location with a lot of traffic. Know what items sell fast and find out ways to provide top quality customer service.

You will need to write a business plan that includes four key sections

•Description of the bakery
•Marketing plan
•Management plan
•Financial management plan

The Internet is filled with free Business Plan software to help compose a good quality business plan.

Get financial support to establish the bakery. There are a variety of financial sources that one can draw on such as:

•Savings
•Personal credit cards
•Personal investments
•Venture capitalists
•Bank loans
•Government grants
•Small business loans
•Investment by an individual who wants to support you or become a silent business partner

Conduct pre-launch activities like getting the necessary license, permits, and insurance. Contact suppliers, open a bank account, set up utilities, buy equipment, and employ workers. Categorize these responsibilities and employ people who are qualified to fill these positions.

Generate buzz prior to opening the bakery, you can do this by putting up a sign in front of the bakery or opening a Facebook ad promoting the grand opening date of your bakery. Have your business cards printed early, so you can hand them out whenever possible in order to generate some interest. Get family and friends interested in the launch of your bakery by organizing a pre-opening party. Use coupon code to reel-in bargain lovers. Draw in the “health-conscious” eating public by offering a variety of healthy and delicious treats.

Owning a bakery has its financial rewards, according to the United States’ Bureau of Labor Statistics, bakery owners make an average of $49,680 per year – although this depends on the size of the bakery.