With the growing numbers and success of bakeries worldwide, many people are often tempted to start a bakery business themselves. And if you are a baker yourself, the idea must have popped up in your mind many times because why not? Owing to the huge customer base, bakeries do seem an attractive and lucrative business.
A report by Statista says that several new bakery businesses were established across the U.S. in 2020, despite the COVID-19 pandemic, and the number is expected to grow even higher. The trend is not just limited to retail bakeries; there is a huge scope in the small-scale home bakeries too. Just like any other business, running a bakery is also a demanding task.
However, there are a few key components that put the bakery business on leverage compared to other food businesses. Let’s look at some major benefits of starting a bakery business.
Low Investment Budget
It is not necessary to go big when establishing a bakery business. You can initiate your business right from your home kitchen and save maximum amounts on the capital cost. If you have enough room for displaying your delicious food items, well and good.
However, if you live away from a commercial area or do not have the optimum space to showcase your treats, do not fret. You can collaborate with retail bakeries by providing them with baking supplies. Or you can ask for a specific shelf or portion of the bakery by offering a fixed commission to exhibit and sell your food items to the customers. Make sure to put your best items on display to attract as many people as you can.
Basic Manufacturing Equipment
The best thing about the bakery business is that it requires simple manufacturing equipment, which you can get at a budgeted price from both offline and online markets. Apart from the basic and special ingredients, here is the list of some equipment you need to start producing baked products commercially:
- Mixers – They are necessary for mixing all your baking ingredients and dough.
- Oven – An essential component of a bakery that changes simple ingredients to cooked banquets.
- Piston Depositors – You will need a benchtop piston filler to create moist and creamy muffins and cupcakes.
- Dough Proofer – For better baking efficiency, dough proofers enhance the dough rising process.
- Refrigerator – A must-have appliance to provide safe storage and also keep your ingredients fresh.
Complete Authority over the Products
Operating a bakery gives you complete freedom and authority to select your product lineup. With the endless variety of baked products, including bread, cakes, brownies, muffins, pastries, etc., you can manufacture, market, and sell the products while being as creative with your products as you want. Unlike other professions and businesses, bakers are not compelled to include certain food items on their bakery’s menu. You can also specialize your art on any specific product lineup you consider yourself best at.
Sustainable and Steady Market
A bakery is one of those evergreen businesses, which attract customers of all ages throughout the year regardless of the season. Nutritious and equally tasty baked food is one of the best ways of relieving your appetite. Whether you are starting your day or going back home after work, you will stop by a bakery to treat yourself to delicious foods. Once you master the art of good taste and ensure better quality, you can build a loyal customer base for your business.
High Growth Potential
When operating a bakery business, be certain that there is always some room for expansion. A report forecasts that the bakery market will expand by $116.14 billion by the year 2024. By ensuring quality, taste, customer satisfaction, you can easily grow your bakery from a small home business to a brand with many bakery cafe outlets spread across the city.
Nevertheless, you can always stretch your product line by adding newer and tastier products to your menu, even if you do not plan on setting up multiple bakery outlets. The basic principle is to master your craft, make your product a benchmark, grow your specialty list, and build your brand.
Running a bakery might seem a challenging and unprofitable business to most. But the truth of the matter is that bakeries can be set up under a small budget, and the basic equipment and carries a diverse range of benefits compared to other businesses. You only need a taste, quality, and the right marketing strategy to upgrade your business.