I would really appreciate some opnions from other bakers who have their own shop about if they think a shop in my area would be sustainable. The population where I live is 60,000 and the median income is $36,000. The rent is $1 per square foot. I do currently have a shop but the set up I have going can not be maintained for family reasons that have nothing to do with the actual business so I am looking to move to a new location.
Is your present business productive/profitable? How much more or less would a new location be - really worth the time & effort to move? What extra benifits will a new location add? Is there quipment at the new place? There are just some of the ?s you need to address to help you decide. Oh, and is the new location really better? I mean like on a more main street - more visible to customers - things like that.
The median income for your area is low - are people purchasing from you, or do many folks get their bakery items at the supermarket?
Think about the amount of business you have right now, and how much income your business reaps after all overhead is paid. Is it worth the headaches and stress of owning a business? Would you make more money if you gave up your business and took a job somewhere? It's a tough decision - good luck in whatever you decide.
Can you reduce your overheads by turning your home kitchen into a bake studio? I don't have a shop front, I work from home (inspected, insured, registered, approved) and I just have pick-ups and cake tastings by appointment at home. Not having that second rental outlay really helps and means I can also keep my prices down (well, down-ish... my time's worth a lot to me!) which the clients appreciate.