Hi everyone....I have had a desire to open my own bakery for years but I have been very scared of the unknown.
I have been approached yet again by clients and family to PLEASE open a bakery.
I know I cannot do it tomorrow but I sure would love to get started with some head planning. I need to know the in's and out's, good, bad and the ugly etc.
I have 10 years self taught experience and feel I have the talent and "know how" of cake. I have sold to clients through my home based business but long to move to a building for more exposure etc.
I would definitely appreciate advice for opening up a bakery only.....thank you so very much!!
The first step is to write your business plan. That process (which will take several months if done properly) will guide you through site selection, marketing, financing and everything else. I've written two and they talked me out of opening a business both times.
We just opened our storefront, so we just went through all of the craziness to get open! Are there any specific questions you would like to ask? There are so many facets to opening a bakery, so it's hard to know what to tell you! One thing I can tell you is that it takes a lot of start-up capital. And when I say a lot, I mean A LOT. So you need to have your own money saved, or someone willing to invest, or a loan (very difficult to get as a start-up).
where is GA are you?
I am in Williamson (Pike County)
Loveme is correct. Look at a minimum of $50K and upwards to $100K. Banks will not loan on this so you need cash or collateral in that amount.
I totally agree on the business plan. You didn't mention any business experience. This should be obtained before you open a shop. A balance of school and working in a business in the capacity of having influence on the bottom line.
Don't worry if you have to wait a few years to save or to get some experience. Without those two, you run the high risk of failure.
I would not open a shop in debt in this economy. Not only should the business be debt free, be prepared to possibly make very little or operate in the red at first. So that money must be saved too.