As society experiences a shift in the economy and the concept of business, we see more people start a food and beverage business from the comfort of their own home. Whether it is a move to bring in more income or to earn from a personal hobby, starting a home-based bakery can be profitable but only if you make the right moves. Here are a few steps you should take before you start a baking business from your own home.
Do Research and Devise a Plan
The first step to starting any sort of business is to do your research on your potential business. It is not always easy to start a business, especially if you do not have a proper plan so start doing some market research and read about similar businesses in your area. Doing market research will allow you to determine your target audience and how to approach other aspects of your baking business like the prices and the type of flavors you can offer.
You should also take the time to devise an operational plan for your business. This includes planning out how you will create your products and the amount of space needed for your business. Starting a food business means you need to ensure that your products are safe to consume and made in a space that is compliant with food safety laws.
Get the Proper Permits and Licenses
Once you have done your research and devised a plan, you should start applying for business permits and licenses. If you plan on getting serious with your business, then you need to understand the laws and regulations that are related to your business. The easiest method of getting the necessary permits and licenses is to refer to the country’s official department of trade and industry.
Even if you plan on keeping your business small and home-based, it is still a great move to learn about the laws that relate to your business because it will help with any potential legal issues. Understanding the regulations for the food and beverage business will also help when preparing for your business because you will then know what to do and what to get before you start making your product and selling to customers.
Decide What to Sell and Develop Your Own Recipes
During the market research phase, you may have already planned out what you can sell and promote to your potential customers. This is especially important to ensure that your business will be profitable in the future and will not experience much loss. When deciding on your business’ menu, you can take inspiration from similar businesses, whether it be a larger franchise like Conti’s cakes or just an individually owned brand. Find out what is popular amongst their customers and see if you can add a similar product to your menu.
It is best to start with a smaller menu because this will help with smoother operation and will take up less capital. If you do not already have a recipe for your menu items, this is a good time to start developing your own recipes. Also, keep in mind to take note of how much the ingredients cost so you can determine the prices of the final product.
Do Advertising and Marketing for Your Business
Once you have finalized the menu and the recipes for your business, you can now start with the advertising and marketing part. With the help of the Internet and social media, advertising is as easy as starting an account on social media and posting about your business. If you have extra money to spend, you can get your account promoted and get advertisements made to circulate on social media sites.
You can also think about the advertising potential of your products. For baked goods, you can focus on the decorations because the first impression from potential customers will be the visuals of your products. You can use popular food items like Oreos or Ferrero Rocher to decorate your items and add the names into the description of your product to attract more attention.