How to Own a Baking Start Up Company
You know you are a great baker.
Your family and friends are always gobbling up your creations and your grandma’s cookie recipe is the hit at all the parties. You have even had people ask you if you would make cakes for their next special occasion…for money.
Once you decide you are ready to bake for a living what is next? Here are the steps tp opening up a baking business:
1. Decide What kind of Baking Business You Want To Open
There are many different baking businesses you can own. In order to to make your choice you should look at both what you would enjoy most, as well as what type of baking business would be profitable in your area.
You can always go with the traditional bakery and cafe. If you do not want to deal with all that is involved in table service, you may want to open up a counter service bakery. Another option is the increasingly popular food truck. Lastly, if you either don’t want to deal with the upkeep or financial commitment of a brick and mortar business, you may want to start off with an in home business where people place orders by phone or online.
2. Secure The Money
No business can get off the ground without money. But how do you get capital for a small business when you do not have a rich investor backing you?
The most traditional route to this is to fill out a Small Business Administration (SBA) loan application. Many areas provide incentives for businesses to open so research the community you want to work in.
There are also ways to raise money for small businesses that do not involve a bank. Crowdfunding on sites like Kickstarter or Crowdfunder are great ways to raise money to get started.
3. Write A Business Plan
You have the dream and you have the specifics on what the business will look like. Now it’s time to write a business plan. Whether it is a brick and mortar business plan or a home bakery business plan this is an important step in the process. A business plan is a great way to not only organize your ideas. It is also a great way to keep you on task.
This may sound tedious after all of the fun you have had dreaming up your ideas. But all those ideas in your head need to make their way to paper. Do not be intimidated. There are plenty of templates for small business plans online that you can start with.
4. Get the Permits you Need
The food service business can be fun and rewarding but there is more to it than buying your ingredients and supplies. You will need to get a food establishment permit. The industry requires permits filed with the health department, along with rules that every food service business must follow. If you don’t follow them, you will get shut down.
