Hiya, I was wondering if anyone had any suggestion for degrees I could pursue for eventually opening my own bakery. I want to get a degree in pastry arts, but should I get also some sort of degree in buisness?
What degree(s) do you have, or not have? What would you suggest?
I'd appreciate the insight. Thank you!
Taking some business and accounting classes would be very beneficial.
A.A.B.- Business Management. That's what I have and it's very useful. I'm one week away from finishing my last class for my Bachelors in Business Management and Business Administration and I haven't found any of those classes useful as I already knew everything since I have my Associates.
It gives you knowledge about business plans, public relations, marketing, advertising, business math, accounting, etc....
You don't necessarily need a business degree, just business knowledge. I finished my MBA last year, and the most useful courses relating to running my business (in descending order of relevance) were accounting, tax policy, microeconomics, marketing, and operations management. If you are planning on taking on loans I would also recommend at least an intro finance class.
I agree with Jason. One of my daughters is asking to take over my business after college. I told her that it is hers free and clear after she receives her master's degree in business.
I have always been self-employed as was my father. We created our businesses. I have taught that philosophy to my three daughters. Two are in college with their own business plans. One is in prep school and on her way to college. Her plans are also self-employment.
I recently watched "The Social Network". The president (or dean, can't remember) said the exact thing that my dad taught me and now I pased to my children. He said, "Harvard graduates create their own jobs, they do not get jobs".
If you attain the knowledge to create your own job, you will always be able to find a niche in the ever-changing economic climate and you will be able to fill it. I find that business knowledge is a priority. Baking and decorating are secondary. You need the education to adapt the skill into a viable business.
Second most important: In whatever you choose, it is important to be a master at your trade if you are serious. You should strive to be the best in your market while you persue your education. In your situation, you should look at the trends happening now and keep up. Today, bakeries and related industries are increasing daily. The skill level is climbing also. The offerings are trending to gourmet and unique. Be sure you can compete at the top.
I don't care how good you can bake. If you don't have an eye for business you are setting up yourself for possible failure.
IMO the financial end is the most important. But that is just me. My son looks at it from his economics degree side. I look at it from the accounting/finance side. My DH comes to the business from his MBA side. My DD is the marketing/computer/social director side of things with her degree. I feel we have a well rounded team.
If I could not have both the baking knowledge and the business expertise, I would not have ventured into doing my business.
And do not forget the business plan before you start. IMO that is also the best tool you could have.
Baking and decorating are what you do only a small fraction of the time in this biz. You neeed business and marketing knowledge to succeed.
I have a BA in histry, MBA and a degree in Baking andPastry Arts.
I also agree that you can be an amazing baker and still not have a successful business. When you are the owner you are involved not only with the products, menu, etc., but also with making sure that the business is profitable (marketing, advertising, etc.) I don't think you necessarily have to have a degree, lots of people with no college degree have started successful businesses. But any on-hands experience and schooling you could get will definitely be of benefit to you. I got a Bachelors of Art and Minored in Culinary Arts. I also took business classes and my culinary minor had business classes that related to owning a food service business.
As far as the financial end goes, it is important to know about food costing, etc. But most people hire an accountant to do their finances, especially for taxes.
I asked a similar question like yours on here. My friends, cake decorators on here made me realize as far as cake decorating you don't have to get a college degree in this line of work, its all about practicing your craft and perfecting it and thats how you can learn and be better. Its better starting off with a degree in business because if you don't have that knowledge of knowing how to run a business you won't succeed. But there are plenty of people who runs a very successful business and didn't have a degree in business but I feel like why risk it. You can always intern some where as a cake decorator and learn the business side hopefully and gain new cake decorating skills too.
You don't need a degree, but there is no shortcut on the knowledge. Remember, 85% of new businesses fail.
Just a little insight from someone who has owned businesses for 28 years:
I have owned three businesses, totally unrelated. We change, circumstances change, and the business world changes. That solid business knowledge will carry you through all of those changes.
One more huge plus... learn the business side and then you can turn what you do for fun into what you do for profit.