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.
Starting a Home Bakery Business
Home bakeries are regulated at the state and local level, so your options depend on where you live. You'll also need to...
Example of a Business Plan for a Small Business
According to Entrepreneur.com, an effective business plan is comprised of five major elements: executive summary, business overview, market analysis, financial assessment and...
How to Make an at-Home Bakery
If you’re an experienced baker, you may have considered opening your own bakery. Experienced bakers can operate a fun and profitable bakery...
How to Start a Bakery Business
It doesn't take much to start a bakery. If you already bake, you may have most of the equipment you need to...
How to Find Free Sample Business Plans Online
As a blueprint mapping out the future trajectory of a business, a business plan is indispensable to the budding entrepreneur. Templates abound...
How to Start a Bank Business Plan
You will need two kinds of business plans in order to start a bank. The first business plan is what you will...
How to Start a Bread Business
Bread baking is an ancient craft that continually is being reinvented by talented modern bakers. To start a bread business you must...
How to Open a Small Bakery Business
A small bakery can serve as a gathering place whether it's located in a busy urban area or small town. An aroma-filled...
How to Write a Business Plan for a Bakery
A business plan is a formal statement that allows you to present facts about the viability of your proposed business. It is...
How to Open a Bakery: A Business Plan
There are many ways to put action into your dreams of opening up a bakery and writing a business plan is the...
How to Open a Fresh Bakery Business in Pennsylvania
In Pennsylvania, you can open two different types of fresh bakery businesses -- a home bakery or a retail establishment. Both are...
Creative Business Name Ideas
For many, starting a business is just a dream; but for you, it has actually happened. You're opening your own business. Before...