Just received a call from a friend wanting to rent out the building beside hers for super cheap. only problem is it has nothing at all in it. i would need at least ten to fifteen thousand to get it in working order with decent used equipment. I've always wanted my own bakery but it's a small southern town and i'm not sure how well i would do. there have been two other bakeries in the town since i was a child and both have closed (not sure why). any advice would be greatly appreciated. I don't want to be stuck with a slow business and a loan to pay off
I just laid out $28K in build out costs and $45K in equipment (most of it was new ... and I have a few extra pieces that I need as a caterer, like a $8000 comm'l dishwasher and a $8000 exhaust hood over the 6-burner stove and the ovens .... so your equipment costs should be much lower).
My sales are at 142% of what I did all of last year ... and it's not even June yet.
I refuse to allow the naysayers to dictate to me. If you listen to ANY of them, then you'll never open a biz, get married, have a baby, buy a new car, go on vacation, or invest in anything else that may be dependent on "the economy".
I believe it's all about you ... your skill, your confidence level, your sales and marketing skills, your talent.
Donald Trump's dad told him not to try to develop in Manhatten because "they'll eat you alive over there".
Naysayers. Bah! Humbug!
I'd ask around to see why the other bakeries didn't stay open. maybe the town can't/won't support it. maybe they got old and retired. thats where I'd start.
I think it also depends on the type of business it is. The market for well decorated cakes will probably not suffer from the economy. The tradition to celebrate with cakes will remain a constant for many years to come. If I was a car dealer for SUV's, then I would be concerned.
sales are up from last year...and my prices have increased across the board.
my customers know i care about them, and they trust me, excellent customer service is hard to come by.