Some Thoughts On Starting Your Own Business...
Business By PieceofCakeAZ Updated 19 May 2007 , 3:37am by Beezaly
Thanks for all your words of wisdon and info.
so much to think about. long gone are the days when you could just find a building, walk in and start baking.
Thank you for all the useful information. Luckily at the moment I am only looking at a small type operation.
This is what I thought when I started 2 1/2 months ago. I rent a commercial kitchen and I get 2 full days per week to use it plus I could go in on evenings if needed. I have 5 regular wholesale accounts and retail business is picking up. This is my situation as I decided to "try this out" and after 3 months see how it's going. My business is picking up. But, my area just won't support very high prices. Wholesale pays even less, but I'm actually getting top dollor for my wholesale items but my only competition is Sam's and the foodservice wholesalers (Sysco, etc.) Coffee shops aren't used to paying $20 for a cheesecake to resell. My expenses come to about $400 per month which includes rent, utilities, credit cards, etc. Then food costs which are about 25 - 30% of my price. So, if I make my goal of $500 per week in sales, I bring home a $250 paycheck. That's about 3 days work per week (a lot of my business is cheesecakes which takes a lot of time prepping, baking low and slow, cooling, chilling, slicing, packaging, etc.)
I'd like to cultivate more retail business, but since I don't have a storefront I have to deliver. This can prove inconvenient for both me and the client as we have to agree on a delivery time. (Don't you hate waiting at home for a delivery person?) Not to mention gas prices lately. As my husband mentioned, I have to also include my time spent doing paperwork, banking, ordering supplies, shopping, marketing, making phone calls, etc. I make less than $10 an hour which is that really enough with the hassle and stresses of owning your own business. I'd like my own location so that I could work additional days and whichever days I'd like and so that customers could pick up orders, however, I haven't found anything for less than $850.00 per month rent. Most are $1000 to $1500 per month and I'd still have to finance the construction for conversion into a bakery. I feel stuck. I'm doing what I dreamed of, and It's still to early to say where it will go, but it's not exactly as I'd imagined either. Just throwing thoughts out there.
That is so awesome!! Thanks for posting this...I am just starting my research. My Hubby just became a legal company yesterday (graphic design) and we are very excited! 
Now I just need to get my butt in gear and do all the research to start MY company! 
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