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Starting a Bakery: Here Are Five Ingredients You Need
The food industry is robust and continues to be so, with its worth growing every year. Due to this, many entrepreneurs are trying their hands at earning the potential profit that it might bring them. Many look into franchising to do so.
After all, there is less to lose when working with a brand that has already established itself. But, some prefer to build their brand from the ground up, and one way is to open a bakery.
Here's how to make that happen.
Decide your model
Before anything else, you have to know what kind of bakery you want to open. While an online shop is always a viable option, operating a physical store might work better in this scenario. With that in mind, choose if you want to build a bakery that is also a cafe and has dining space, or not.
Prepare a business plan
After deciding on the business model comes writing your business plan.
Your grand plan includes information like:
- What kind of products to sell,
- How to market your brand,
- And what to expect in the future.
The typical business plan includes the following: an executive summary, company description, market analysis, and financial plan.
Check your finances
It is imperative to look through your finances to give yourself an idea of your base startup capital without loans taken into consideration. Some aspiring entrepreneurs can open their business with very little outside help involved. You may be the same.
If not, then it is time to learn about the different means you can get the funding that you need. There are traditional commercial or business loans to consider. You can also choose to look toward family in your time of need.
Lease a space
Deciding on your business model early on has probably already given you an inkling on where to base your shop. Are you thinking of Makati? Or perhaps Ortigas?
After you have accomplished the first three steps, it is now time to look for a commercial space that has plenty of foot traffic around it. Opening in a busy area such as a business district means that you can get the attention of more potential hungry customers.
After you have chosen and leased a place, style and design it according to the brand image and identity, you wish to project to your target market. Create a floor plan and implement an aesthetic according to what you want your customers to experience when inside your store.
Regulation is a crucial part of working in the food industry. Before you get to serve customers your food, you will have to go through a series of processes to acquire the necessary permits. Among the few that you will need are a business license, food service license, and building health permit.
You can finally open your bakery's doors to the public. Welcome hungry customers and make sure to provide them with a service that is as high quality as your food. These steps will undoubtedly guarantee that your hard work pays off.
Tell us your story
Are you looking to promote your business?
South African food and catering businesses can create your free business listing on nichemarket. The more information you provide about your business, the easier it will be for your customers to find you online.
Registering with nichemarket is easy; all you will need to do is head over to our sign up form and follow the instructions. If you require a more detailed guide on how to create your profile or your listing, then we highly recommend you check out the following articles.
If you enjoyed this post and have time to spare why not check out these related posts and dive deeper down the rabbit hole that is the restaurant business.
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- Why Dunkin Donuts & Baskin Robbins Failed In South Africa
- How To Expand Your Restaurant Outreach by Using Social Media
- Add A Booking Service To Your Google Knowledge Graph
- How to Make a Creative Logo for Your Food Business