More and more people in Britain are looking to turn their leisure-time hobbies into flourishing home-based businesses and baking is one such business opportunity for anyone who loves doing it. Moreover, TV programmes are attracting more people towards the glamour of baking.
According to stats, the sales of baking products have been rising steadily, up by 62% since 2007, so where there’s a consumption, there’s a market.
It won’t be wrong to say that the home baking is among the trending businesses in the UK, and every baking enthusiast is looking to know how to start a cake business. More people are, however, interested in starting a baking business from home than setting up a full fledged bakery.
Well, starting a baking business can be fun if you have done your research and you are confident about how to start a bakery business from home or through a small scale shop, however, it can be challenging if you are lacking the market research!
If you are a baking lover and your friends have been telling you that you bake the best, starting a home baking business is surely your thing, but make sure you get hands on the business skills before starting your cake business.
This article will list some of the most important points you should consider before you plan to get into a “cake business from home”. So, by reading the details below you will be able to determine how easy or difficult it can be to run your own baking business.
Let’s see what it is:
1- Knowing the Relationship Between Quality, Pricing & Competition
Competition from new bakery companies is on constant rise, so small scale bakeries are finding it difficult to compete on price. To meet this challenge compete on quality, not price.
2- Learning the Baking Trade
You may be an expert baker, but that doesn’t ensure your success in the baking business. You must learn how to turn your hobby / interest into a profitable business and that’s what the baking trade is.
You may join an internship program with some leading hotel / bakery to learn the business or you may want to join a college course to know how to turn your hobby into a profession.
3- Building Your Bakery Brand
Building your brand online is the best way to start a home based bakery, because it reduces most of your overhead costs and helps you target customers on a broader level with more targeting options.
Remember, to build your brand, you must name your bakery the right way, i.e. make sure the name is catchy and a relevant domain name and social media profiles are available for the same.
4- Learning to Market Your Brand
Marketing is the backbone of any business and so it is for a home based baking business. When it’s a hobby, it’s good to bake for friends and family, but when it becomes business, you must reach out to more people, and urge them to buy.
Ideally your marketing should never stop, not even during the peak sales period. So, learning the basics of marketing is also one of the must haves before you step into baking entrepreneurship. This will give you a greater advantage even when you are not doing marketing activities yourself, you can have your marketing team on track.
5- Learning to Grow
You may be baking for fun earlier, and making some money out of it probably, but when it comes to turning it into business, you must consider numbers and they must be showing an increase in cash inflow.
To grow your passion into profits, you need constant efforts and learning various other skills and keeping yourself updated with the relevant knowledge. Here’s a great resource for setting up a food business from home to get started. Once you develop a habit of learning, you are already on the growth track.
The Bottom Line:
The above discussed points are the very basic considerations when you are planning to turn your baking talent into a small scale home based business. There can be big challenges and to meet them you can devise strategies based on the situation. The above list will just help you decide, whether you are ready for the quest or not!