Hey folks,
I'm a homemaker who is happily living with my two kids and husband in Toronto. I resigned from my job to take care of my kids.
I used to bake cakes and cookies for my kids. Last month was my younger one's birthday, and I prepared a theme cake based on her favourite character Olaf. We invited some of our relatives and friends for her birthday. Each guest asked where did we buy the birthday cake. Everyone was surprised when I said that I prepared the cake. One of my relatives advised starting either an online business or a cake shop. I discussed it with my partner, and he was happy.
Now, I've started planning around the equipment to be purchased for the shop. In order to maintain the texture and the flavour of the cake, it is essential to have the right commercial display freezer. It can also play a vital role in enhancing business sales. Organizing a cake shop requires a variety of making plans and research.
I'm a newbie to cake business and need advice from anyone who has relevant experience in the field.
Please guide me in the right way.

Not only does it take equipment etc but it takes a  customer base.   Those relatives & friends won’t buy enough to support an actual business.  You need to get known—reach out & get connections w/other wedding businesses.  Have u even made a wedding cake?   Do you know how to pot together multiple tiers? Are u current on what is the latest designs?  Do you have enough equipment & space to do more than 2 cakes a day?   How about insurance—even know if/what is needed?  thinking about a business already.  Have you looked into what it takes to be a legal business in your area.. applied for a lisence?   Sounds to me like you’re going w. a. y to fast.

Catherine you will not be able to reply to any post so if you have anything to say just start a new post referring to the one you are talking about putting a #2 after it so we know it’s a follow up to the discussion.  (Example:  newbie to cake business 2) 

I agree with @kakeladi - before anything else - you need to establish that you have an audience for your creations.  Just buying equipment does not mean that the people you need will turn up.  You need to investigate all the things necessary to start a cake business and that includes pricing your cakes and making a price list (including your time)  There is a lot to thing about and do before jumping into paying for large pieces of equipment.  Just my two pennyworth.