Starting your very own bakery is no easy task, it involves a lot of research and planning. Especially when it comes to buying the right bakery equipment. If you are also not sure which bakery equipment to buy check out our bakery essentials guide here.
Once you are familiar with commercial bakery equipment and basics of bakery planning it’s time to take action! But starting a full-fledged commercial bakery without its pitfalls. In this article, we’re going to talk about top mistakes to avoid while starting your own bakery.
Financial Planning: Calculate your startup costs
Financial planning is the heart of any business. A well-outlined financial planning can be the difference between success or failure of your bakery business.
Start by taking a blank piece of paper and start writing each and every cost you might encounter. Do not forget to include costs of equipment, space and staff. Also make rough projections of what your business will look like after a month, a quarter and a year of launch.
Also, make sure to include the primary sources of your income/Profits and profit margins required to sustain it. Also, make sure to include any mortgage or business loans you might have. However, don’t do a PhD-level research. Just a standard outline of expected costs and turnover is suffice.
Also do keep in mind that there will always be some unaccounted, accidental costs in future. So always leave a room for them in your projections.
Not deciding a launch date:
This is yet another mistake most of the startups make. Not deciding a launch date, or a deadline can delay your business from going live. Always remember that no one is ever truly ready! Make a list of essential items and once you have them start your business as soon as you can.
But don’t get discouraged if you experience some hardships or breakdowns, because you can only learn from your mistakes!
Under Hiring or Over Hiring is one of the biggest mistakes most beginners make. Do not overestimate your market and over hire. Keep in mind that you can always hire some more bakers in future. Also never start your bakery on your own, at least hire one or two mid-experienced bakers to help you with!
Hiring inexperienced bakers is also one of the most common mistakes to avoid. Teaching an inexperienced baker to bake can be a time consuming and difficult process. It is always advisable to hire mid-experienced to seasoned bakers.
Another mistake to avoid is hiring full-time employees. You can always hire part-time staff during your peak hours to save money and resources.
Not studying your business market:
This is by far the most common mistake beginners make. By not studying your business market, you miss what your target customers love. By analyzing your business market, you can understand strengths and weaknesses of your business. You can also focus on part of services that your customers like the most and further enhance it.
Introducing a customer survey for a free cookie or for a discount is a great way to analyze your business.
Looking to start your very own commercial bakery? Don’t forget to check out Hb-grups, for high quality, affordable bakery equipment here.