How to Start a Baking Business: 4 Steps to Success
Whether you’re a hobbyist looking for a source of extra income or a full-fledged entrepreneur who wants to be her own boss, starting a baking business is a good choice.
Baking has become quite popular over the years, but it has been around for much longer than that. Throughout modern history, a wide variety of baked treats and products have been born – from decadent cakes and pies to delicious, easy-to-eat cookies, cupcakes, and muffins.
But with all the information available, starting such a business may prove to be a challenge. Fortunately, this article can teach you how to start this culinary quest.
From enrolling in a baking school in Dubai to completing your baking equipment and supplies, here are the four important steps you need to take to successfully launch a promising baking business:
1. Boost Your Baking Skills
Before you can even think about what you want to sell in your bakeshop, you must first hone your skills. Sure, you can hire a professional baker for your business, but it would be for the best if you’re the one running the kitchen.
If you haven’t already, consider enrolling in baking classes to increase your knowledge of the different techniques in the trade. You can also choose to get a patisserie diploma and get more extensive training in all the aspects of the business.
Of course, there’s also the option to upskill and choose specific skills to add to your arsenal. For instance, if you’ve already mastered the cake batter, you can get ICCA cake decorating training to hone your sugar art skills instead.
2. Create a Business Plan
Every business requires a business plan, and a bakery is no exception.
Once you’ve decided what kind of business you want to open (e.g., online, counter service, sit-down, or specialty), the next thing you should prepare is the outline of your business. This should include:
- A summary of your business (i.e., type, industry, or niche and location)
- The business capital
- Estimated expenses and revenue projection
- Target market or customer base and competitors
- Your short-term and long-term goals
If you’re planning to hire staff, you should also include it in your business plan. Make sure that you write down details about human resource management, too.
Having a unique brand is also an important part of the business. This will help you stand out from the crowd and potentially overcome the competition.
To make your business more appealing, consider having a gimmick for your bakery. Whether it’s related to the atmosphere in your shop or the products you bake, this will be attached to your brand, so you must make sure that it is pleasing and will paint your baking business in a positive light.
3. Get Funded
Besides serving as a guide for your bakeshop, your business plan is good for one more thing: to get funding.
When you have a solid business plan, convincing potential investors is a whole lot easier. Instead of telling them your plans, you can “show” them instead. This is also true for when you’re applying for a business loan from the bank.
4. Complete Your Equipment and Supplies
Now that you have the money to get started, it is time to seek out the necessary equipment and supplies you’ll need for a successful baking business.
Of course, you should have already done your homework on vendors and suppliers of the items you would need beforehand. This is the time to use the information and reach out to those businesses.
For the supplies, it would be wise to purchase ingredients in bulk. Sourcing local produce from the neighborhood is also a more practical move, not to mention it is a great way to help your community prosper.
Bake Your Way to Business Success
Starting a baking business may seem daunting at first. But with the right mindset and know-how, you should be able to take a step closer towards your goals. Follow the tips listed in this article and bake your way to business success.
Shanaaz Raja is the Course Director at International Centre for Culinary Arts - ICCA Dubai.