When combined with superb baking skills and a sound business plan, a home bakery business can be quite fruitful. A bakery business plan should calculate projected sales as well as estimated costs, such as for supplies, utilities and packaging. Also, the plan should describe marketing efforts that will be used to promote the bakery business.
Before preparing a business plan, take some time to choose a business name. Brainstorm creative names that incorporate your main product(s), especially as you want to avoid changing the business name in the future. Begin your plan with an executive summary that discusses the business mission and long-term goals. Estimate the cost of operating a home bakery, including hiring employees, as well as evaluating whether you should purchase or lease items, such as a commercial oven, or use existing appliances.
Another important factor involves the bakery's marketing budget. For instance, if you want to establish a professional website, you will likely pay a one-time fee to create the site, plus monthly maintenance costs. Next, evaluate target sale prices and assess annual and monthly break-even points, which are based on the bakery's needed sales to pay costs.
Your business plan should describe your target audience and how you intend to attract customers. Turn to such resources as social and professional networks to help promote your products. Also, shop around for quality supplies at affordable rates. For example, contact local retailers and wholesalers to assess their food prices. Contact a local small business administrative office or your state's secretary of state for information about how to start a small business. Make sure that your state grants commercial licenses to home-based bakeries.
A thorough business plan serves as a fantastic tool to help establish a successful business. The plan can be presented to investors for potential financing, if you want to expand your bakery business into new markets. Remember to discuss how you will obtain and record recipes for your business. Also specify whether you intend to experiment with new products, such as to bake all types of desserts, or concentrate on one product, like homemade pies. Realize that well-written business plans vary in length.
Use a word processing program to write and save your plan. Your business plan should not be considered permanent, so feel free to make changes as needed.