If starting a bakery has always been your dream, you might be thinking now is the time to make it a reality. The excitement of the early mornings and the flour-covered aprons are your life’s goal coming to fruition.
But you have to be well prepared in order for your project to become a success. Starting a bakery sounds magical, but it’s hard work.
One of the most important aspects of starting a bakery is budgeting. You need to make sure you’re spending your money wisely, in ways that will pay off.
What Does Your Budget Look Like?
First, think about your bakery budget. How much money do you have for equipment, marketing and day-to-day operations?
Once you know how much capital it will take to get up and running, figure out what your monthly break-even number is; that is, how much you have to earn in order for the bakery to support itself.
When you’re fully aware of all budget realities, it’s easier to forecast how much you have to spend on equipment and how much you should spend on leasing retail space.
Think About Branding … But Don’t Go Overboard
One of the biggest mistakes you can make when starting a bakery is to spend too much money on branding. It’s exciting to choose logos and order branded supplies, but it’s not required for success.
It’s wiser to invest more time and money in producing quality products. Your work will speak for itself. As long as your customers know how, when and where to find you, you can wait to spend money on branding once you start increasing your profit margin.
Get the Locals Involved
An easy way to market that doesn’t involve any sort of advertising is simply getting out in the local community. Offer to cater a local sports event or provide refreshments for a school or community activity. Don’t underestimate the power of word of mouth.
You Need Supplies
What will make your daily operations flow smoothly and more productively is having the right supplies on hand. Storage containers, shelving, trays, bins … the list goes on. Supplies are a great investment. They help you stay organized and focused and develop a quality production system.
Quality Equipment Is Paramount to Success
Finally, you need durable, high-quality equipment to support your efforts when starting a bakery. You need ovens that bake exactly to your recipe’s specifications and mixers that can handle demand. Don’t waste money on subpar equipment that will only break down and cause major headaches — purchase right the first time.
How We Can Help
Stratton Sales supports small business owners who are starting a bakery by offering 90-day, no-payment financing, subject to credit approval. We offer loan approval in seconds, allowing you to purchase quality equipment from our wide selection of products and machines. We also offer consulting, setup and installation services. Contact us today for more information and help with this next exciting chapter in your life!