It's no secret that the bakery-pastry shop market is booming. And who doesn't look forward to a Sunday morning pastry shop visit? With the market only growing, countless entrepreneurs are looking to enter the sweet side of business and make their own mark. So without further ado, these are the steps to help you open a bakery.
The business plan of a bakery-pastry shop
A very important step in opening your bakery will be, of course, developing your business plan. This will enable you to present your idea to potential investors and convince them that the business can be profitable.
To help you along the way, we have written this guide on writing the business plan of your bakery.
Keen to see an example of what a business plan of a bakery-pastry should look like? Then check out our bakery business plan template to get some inspiration while writing your own.
Getting your bakery-pastry shop funded
Whether it's via equity, a bank loan, or crowdfunding, several options are available to you when it comes to raising the money needed to launch your bakery-pastry shop.
To learn more, check out our guide on finding funding solutions for your bakery-pastry shop.
Opening a bakery with no money
Setting up a bakery without personal contribution certainly makes setting up a new business more complicated, but not necessarily impossible.
For tips on how to navigate this challenge, read our practical guide on how to open a bakery with no money.
Market research for a bakery
Market research can be used to help decide whether or not opening a bakery in your chosen catchment area is financially viable. This can be achieved through obtaining key information about customers, competitors and suppliers.
You can either conduct your market research through surveys, questionnaires and focus groups or use past data on government websites and other trusted sites.
We recommend reading our how to do market research for a bakery guide.
Optimizing the profitability of a bakery
Competition in the bakery market is tough, so having a few marketing tricks up your sleeve will go a long way in helping you stay profitable.
To learn more, cast your eyes upon our guide that explains how to optimize the profitability of your bakery.
Taking over an established bakery-pastry shop
It's common knowledge that there are countless bakeries. With this in mind, you could consider the possibility of buying over an already established bakery and setting out your own vision for it.
To find out more about this process, you can read our guide that tells you everything you need to know about buying a bakery.