If you have a flair for baking tasty cakes and would like to start your own business, there is much to consider. Are you planning to retail your products to the general public, or supply in a wholesale format? The life of a cake maker isn’t for everyone. It has demands and pressures like no other job.
Are you considering starting a cake business?
Here are somethings I think you should know before you begin:
Keep pushing yourself to learn new skills and make sure you get the right experience and necessary expertness. The best people to test your cakes are your families and friends. And they're also very good at spreading the news about your cake business.
Your kitchen doesn’t have to be perfect, but One of the most important things you should do before embarking on this business is to ensure your kitchen reach a certain standard.
There are lots of different things to be aware of and a few hoops to jump through but once it’s checked and you get your rating, customers will be more confident in buying from you.
This refers to the group of customers most likely to want your products. Before you do anything you need to consider who will you be aiming to sell your products to. If you are planning to wholesale to local bakery stores, you will need to do some market research, in order to determine which products are in demand. If, for example, you visit some retail outlets with a few samples, this would help your potential customers decide if they would like to add your products to their existing menu.
How much should i charge?
The painful truth is that a lot businesses do not survive their first year. First of all you'll need to crunch the numbers_determine how much money is available and find out how much it costs you to produce one item, including packaging and transportation, then you can look at the market prices for similar products and work out a profit margin.
[Note] Pricing cakes is a very personal thing, an acceptable price to charge to one person, may be too much or too little to another.
As a new business owner, you should incur your start-up costs so that the business gets established. Since you're planning to bake at home, this will keep your start-up costs to a minimum, plus you will need to purchase all the necessary equipment that will enable you to start baking. As with any new venture, you are advised to create a detailed business plan, as this will help you to identify and overcome obstacles, and when that is finished, let a few gurus in this business take a critical look at the plan.
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