Are you a baker with your dreams set on opening your own bakery?
Or perhaps you are just a foodie who loves the smell of fresh bread. Either way, opening your own bakery can be a rewarding and tasty experience.
It can also mean a lot of hard work and long hours. If you’re not prepared for the hurdles that come with owning and operating a bakery, it could prove to be a challenge. However, if you are willing to put in the time and effort, you may find that starting your own bakery is well worth it.
If you’re interested in owning a bakery, here are four things to consider when opening a bakery business.
Plan Ahead and Start With a Business Plan
One of the first steps when it comes to embarking on your bakery dreams is to have a business plan.
Your bakery business plan is like a recipe. It provides a set of instructions and key information that details the purpose of your business, the goals, the steps you will take to reach those goals and a time frame for when you plan on reaching those goals.
A bakery business plan should also outline:
- The name of your bakery
- Executive summary
- Company description
- Market analysis
- The target audience
- Business objectives and goals
- Budgets and financing
- Financial and cash flow projections
Your business plan should also outline how your bakery will be successful, why there is a market for it and any unique products or services that give it a competitive advantage.
Consider the Competition
There are thousands of bakeries in Australia, which means the competition for customers can be fierce. But, with a little planning and a good location, you can be on your way to owning a successful bakery business.
It is important to conduct market research, determine the level of competition and establish if there is a client base to support your bakery and any other bakeries that already exist in the area.
Bakery Suppliers Can Make a Big Impact
As a bakery business, the success of your bakery lies in the quality of the baked treats you make and sell.
Working with a reliable and quality wholesale bakery supplier may directly influence the quality and freshness of the ingredients you use and the baked product you sell.
When looking for a wholesale bakery supplier, consider the products they provide, the delivery options, the product guarantees, the product range, and the level of customer service and communication.
Consider Branding, Tax and Intellectual Property
Every business, regardless of what they sell or do, has a unique name and brand.
They may also have a unique logo, product or service. It is important to protect all of these business assets through copyright and trade marks.
As a business owner, you will also need to register your bakery’s business name with the Australian Securities and Investments Commission (ASIC).
Before you can open your bakery and sell your first loaf of bread, you will also need to register your bakery business with the Australian Taxation Office as well as obtain the necessary food and business licences.
As you can see, there are many things to consider before you can embark on your bakery business dreams.
Above were just four things to consider before starting a bakery, you may also wish to think about having a website, getting active on social media, financing and the commercial equipment you will need.
