How to Buy a Bakery

Many options are available for bakery business ownership. Franchises can be purchased, or mom-and-pop bakeries can be bought from individuals. Bakeries aren't just bakeries anymore either, as they include everything from coffee houses to chain donut shops like Dunkin' Donuts.

Instructions

Difficulty: Challenging

1. Develop a business plan for your bakery, and estimate how much it will cost to buy the kind of bakery you envision.
2. Line up funding before deciding to buy a franchise or a privately owned bakery business. Decide exactly what type of bakery you want and what sort of location would be suitable.
3. Shop online for franchise and other bakery purchase opportunities (e.g., "BizBuySell" and "Business Nation"), and check local newspaper classified listings under the business opportunities and franchises sections to look for bakeries to buy.
4. Visit the bakeries you are interested in buying. Find out which facilities already have equipment and determine what's needed to maintain or start the business.
5. Choose a bakery and determine if it is within your price range, including needed equipment and supplies. Make an offer.
6. Once you buy a bakery, determine whether or not you'll need to hire employees. Know how to bake and make coffee drinks, or plan to hire a baker and barista to perform these jobs.
7. Set up the bakery accounting system. Remember to include business necessities, such as supplies, payroll, advertising, and printing expenses, in your overall costs.
8. Open your new bakery after you've had a trial run. Make sure everyone working knows what's expected of them.