Are you the one that makes killer cakes for every birthday? If you’re ready to turn your talents into a profitable bakery, you’ve come to the right place.
We’ve teamed up with a few amazing bakers who were willing to share their great business advice.
Victoria Roe started baking over a decade ago when she was asked to make a carrot cake for her mother in law’s birthday.
She runs her business from home, a cottage industry, in a small village in Ohio.
It will help you define your business, set goals, find ways to generate revenue, list expenses, identify your customer base, and examine your competition.
As part of your business plan, you’ll dive into finances.Be sure you’re not making this decision in a bubble—you will want to have your ear to the ground on national trends in the industry—remember the cupcake shop craze (and the cupcake-focused reality TV shows) a few years back?But don’t simply take your findings at face value either.This guide is meant to give you all the ingredients you need to plan, start, and grow a successful bakery.To get your piece of the pie, combine these tips with your impressive baking talents and you’ll be on your way to success.Do not forget to consider the legal necessaries—which will vary state to state—such as obtaining a license to bake out of your own kitchen.Roe says that following some simple guidelines laid out by the USDA lets her earn an income, develop wholesale relationships with local restaurants, independent hotels, and coffee shops, but still enjoy the benefits of being a stay at home mother.One of the first decisions you’ll have to make is the kind of shop you want to open.To do this, you’ll want to assess your talents, budget, and goals.Running Three Leee Cupcakery from home gives Victoria the flexibility be present to her young family and pursue a degree in business while bringing in income.With Michelle and Barbara’s help, let’s get the planning process started.