Is It Even Possible?

Business By Tacy09 Updated 16 Dec 2010 , 3:07pm by Tacy09

Tacy09 Posted 15 Dec 2010 , 6:35pm
post #1 of 9

Ok so as of right now I am in college, Ill be finishing up with my associates this spring, I want to open a bakery in town (there isnt one here, but there was when I was little and I know they made good money, but they have moved out of town so I cant talk with them). My boyfriend is buying a farm and building a house (according to him we cannot get engaged or married until we have said house lol) My question is if the farm generates about $1,000 per month I would need to bring in about $1,500 to $2,000 a month to be able to pay for everything, with just a little left over. Would it be possible to take this out of a bakery and still make payments on it? I know there are tons of other factors to consider, but Im just wondering if all of you who have done it, did you take out money for yourself, or just put everything back into the buisness? I hope that made some sort of sense.....Thanks for any advise!

8 replies
dawncr Posted 15 Dec 2010 , 6:59pm
post #2 of 9

Hi Tacy,

You ask some good questions, and although I don't have the entire picture, I'd make these recommendations.

1) You are fortunate to live in a state where you can have an approved home kitchen. Why have a storefront bakery? You need to construct a business plan and run the numbers. Your community college likely has a small business class on writing a business plan.

2) As a farm wife, you have different demands on your time than partners of persons with relatively regular full-time jobs. You will need to be available at all hours to drop off, pick up, run for parts, etc. During planting and harvest, forget about working the hours that would be needed to run a small business. And, you could spend many hours just bookkeeping for the farm. That's just for a grain farm--Triple that if you have livestock.

3) In what area is your AA degree? One thing to consider is that farmers are business persons, too, which means that they don't have and must buy their own health insurance, other benefits like disability, and put money into retirement or Social Security. It might be most beneficial for you to find a job that has those things already built-in.

So, in short:

--Get another type of job with good employee benefits
--Begin a home-based caking business
--If he's amenable, have some say in how you want your home kitchen constructed (e.g., with a consultation area), as he's planning that new home. If he's not amenable, then marry someone else!


bradfab Posted 15 Dec 2010 , 7:18pm
post #3 of 9

If I were in your shoes, I would pm Indydebi to get her to see your question. That woman knows business!

jason_kraft Posted 15 Dec 2010 , 7:32pm
post #4 of 9

Most new startup businesses -- especially those with the overhead of a retail location -- typically lose money the first couple years, so I wouldn't rely on income from the new business for at least the first year.

dawncr Posted 15 Dec 2010 , 10:23pm
post #5 of 9
Originally Posted by bradfab

If I were in your shoes, I would pm Indydebi to get her to see your question. That woman knows business!

And Melvira, who's in her neck of the woods...

tiggy2 Posted 15 Dec 2010 , 10:34pm
post #6 of 9
Originally Posted by dawncr

Originally Posted by bradfab

If I were in your shoes, I would pm Indydebi to get her to see your question. That woman knows business!

And Melvira, who's in her neck of the woods...


If the farm is only generating $1000.00 month he wont be farming long.

partycupcake Posted 15 Dec 2010 , 10:50pm
post #7 of 9

One option before starting your business is to work in a bakery. Even part-time will help you develop some great skills for learning the business aspect behind decorating.

Do you have a local farmers market? You could also make smaller batches to sell there and get the word out about your new business.

Melvira Posted 15 Dec 2010 , 11:11pm
post #8 of 9

Allow me to stick my big nose in it here... Iowa (as mentioned) is one of the easiest places to run this type of business from your home. We are truly blessed! I highly encourage you to skip the thought of a storefront until you are well established, lots of customers, money coming in to show it's going to be profitable. And at that point, you get to keep more of your money if you keep it at home! Since he is building a house, you have the awesome opportunity to jump in with both feet and design a dream kitchen that will work perfectly for doing cakes, etc. I wish I was in your shoes!!

What was said about being a farm wife, I can't comment with complete knowledge on that because my hubby works at an office in Cedar Rapids, but I have heard that what was said is the exact truth. So, running the business from home, and just taking on as much work as you want at any given time is an excellent way to fit into that 'big picture'. I opened a store front for a short time and realized that it was absolute insanity to pay out what I was paying (which in the grand scheme wasn't that much) to not make any more money than I already was! Not to mention that was taking me away from my kids, which is not an option in my book. But, I don't even advertise, I'm all just referrals and repeat business, and I'm doing great from home!

I wish you the best of luck, and if you need anyone to talk to, please give me a holler! I'm happy to help you talk things out!

Tacy09 Posted 16 Dec 2010 , 3:07pm
post #9 of 9

Hi everyone, thanks for all the advise! I guess I should have given everyone some more information lol....I have been working out of my home for about a year now, as well as another home based cake buisness thats about an hour away from my home. I have a pretty good customer base, but since I live in small town (really rural) iowa I cant make the kind of money out of my home I could with a bakery (provided of course the bakery itself would generate money lol) As far as the farm making money the $1,000 is just simply if we did nothing with it it will make more (but I liek to plan for the worst case) on top of that my borfriend has a small welding buisness with a friend that makes decent money. and while I plan to be involved with day to day things (like chores and whatnot) I wont be doing books or any of that, he will run it with his father who has been farming for about 30 years or more. Another reason (aside from my simple love of cakes) that I want to open a buisness is that Im about to lose my mind working from home....Im a super people person and cant hardly handle not getting to work with and talk to people everyday (im sure the people at the grocery store dred me coming in since I tend to talk their ears off lol).............but thanks so much for everything yall have been helpful and I really appreciate everything! icon_biggrin.gif

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