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"Bakery Business": How to Get Started

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The bakery is one of the oldest -dating back to the pyramid-building Egyptians- and most popular business venture to have. And it never gets old for a good old reason: supply and demand. Each year, an average person consume 99 bread products all over the world, and 98% of the world population regularly purchase bread-related products.

With that in mind, there's always a need for new bakery store, and it's never too late to get a slice of the huge industry. With the breakthrough of the internet and social media, more and more people regularly purchase everything online, including food and bread. This eliminates the huge capital needed in opening a bakery storefront and lowers the entry barrier of the industry.

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If you have the passion for baking bread, cookies, and cake, this is a great time to start. Here are some considerations to help get you started.

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1. Startup Investment
A small to medium sized bakery kitchen equipment will cost you around $35,000-$50,000, but it will vary depending on your location. You can get second-hand equipment for a better price, but you must make sure to check all the conditions and make sure repairment services are available. If you plan to open a storefront or a dine-in, you should add rent and renovation cost to the initial equipment cost.

2. Business Model
You can generally divide bakery business into four big groups nowadays: the online bakery, specialty bakery, over-the-counter bakery, and dine-in bakery. All have their own characteristics as well as advantages and disadvantages. But generally, an online bakery is the cheapest to start with the lowest earning potential, while dine-in bakery requires the biggest investment but have the highest earning potential.

3. Be Unique
Notice all the successful bakery have their own signature product? You should, too. Invest enough time and research to develop your unique signature product. Research the current competition to get a better picture, and look for opportunities. There's always room for improvement, even in the smallest kind of way. And sometimes, it made a big difference.

4. Marketing
With the tight competition, marketing will be essential for your success. With many online platform available, you can utilize them to grab your market. Blogging for bakery and posting on social media can build your reputation. Your product quality and marketing should synergize together, and it cannot be one way over the other. Build a great signature product, then market it. If necessary, you may need to hire a marketer so that you can focus on the baking side of things.

5. Licenses and Permits
Different states will require different permit requirement for bakery owners, so make sure to your contact local authority to get better information. Joining local associations and communities might also help with legal information. Besides, it can help with getting more customers.

Earning Potential

Your earning potential will vary depending on many factors, but the U.S. national average for bakery store revenue is around $800 per week or $41,600 annually.

Once your bakery business is established, you can expand by either opening a second branch, or open franchising opportunities. Who knows you're going to be the next big bakery franchise of the country?