Do you bake? If Yes, then you may consider starting a cake business and make money for yourself working from home.
I haven’t met a single person who genuinely hates baked goodies.
In case you didn’t know, the demand for baked items have been on a steady increase.
This means that becoming a baker is an excellent money-making business idea and should be on your list of businesses to consider.
When you’re thinking of starting your own cake business, at first, it seems overwhelming.
You begin to border yourself with business technicalities and funding and all that.
But thank God that in Nigeria, most of these things don’t matter.
You don’t need a lot to start your baking business.
All you need are your baking equipment, baking ingredients and a place to bake.
Did you know that you can run your cake business from home?
I know many people who began their cake business from the university hostel using stoves as ovens!
When writing your business plan, there are three large subheadings you have to consider.
They are your niche, financial goals and marketing plans.
Things to Consider when Starting a Cake Business
1. Cake Niche:
Why does everything have to have a niche?
Now relax, it’s not that serious.
However, haven’t you seen cake businesses that only bake for weddings?
That is what I mean.
Some bakers focus on specific needs of customers such as birthdays, work events, etc.
Whatever you want, put it down on paper.
Do you want to add other confectionaries?
Write it down.
2. Financial Goals:
Finance is a massive part of any business.
As a potential businessman or woman, you need to put finance in every equation.
- How much should I sell this product to have a reasonable profit?
- How much do I need to start?
- Am I going to do delivery? How much would that cost?
- What about taxes?
- What are my financial goals for this year? Etc.
The point is that money should always be on your mind.
Or rather, at the centre of your business mind.
3. Marketing Plans:
Your baked goodies have to reach the customers.
How you plan on marketing your products will determine how far your business will go.
Word of mouth is still an excellent marketing technique.
However, you need more.
I’d advise you to use social media for marketing your products too.
Here are some questions you need to think about:
- How often should I post in a day?
- Which social media platform should I use?
- How much should I shell out for marketing my products?
- How am I going to stand out from the crowd?
- What free package should I add in deliveries in promo seasons?
- Should I design my cake delivery box, or should I use the more traditional white?
- How many flavours should I have?
- Do I need a website?
There are so many things to consider when marketing your products, but don’t be overwhelmed.
Take your cake business a little by little.
What Do I Need To Do Before Starting My Cake Business?
Apart from the three significant subheadings, there are other big little things to have or consider before starting your business.
1. The Place:
Before you start baking and selling, you need to have a place where all the magic will occur.
If you don’t have enough to rent a shop, you can start from your home.
Many people do it, and you won’t be the first.
If you’re a stay-at-home mum, this would even be a better option for you.
However, if you’re renting, then you should add that expense to your financial plan.
If it’s from your house, you will realize that water and electricity bills may go up slightly.
So, also add the extra money to your expenditures.
2. Baking and Decorating Equipment:
When starting, you don’t need expensive equipment.
All you need are some mixing bowls, measuring spoons, oven, mixers, etc.
Some essential decorating equipment includes food colour, edible flowers, edible glitter, sprinklers, piping bags and tips, food brush, etc.
As you expand, you can grow and get better equipment.
3. Registering your Business:
If you’re going into baking full-time, you may need to register your business.
This process is different in each country.
However, many home-based businesses don’t bother with this process.
4. Full-time or Part-time:
The cake business is one of those businesses that blur the lines between part-time and full-time.
If you want a part-time business, then renting a shop may not be necessary.
You’ll also have to set days for delivery, so it doesn’t creep into your free days.
If you plan on going in full-time, you will have to plan more than a part-time baker.
As you expand, you may have to leave your house and go for a bigger space.
You may even start looking for employees.
5. How to Mix Flavours and Decorate:
There are a lot of bakers.
You need to be bold and try different flavours and mixtures of flavours.
You also need to be very creative and design something original, especially for weddings, birthdays, and even other events.
How Profitable is the Cake Business?
There wouldn’t be a rise in bakers if there weren’t profit.
I mean, have you priced a wedding cake? For every sale, you can make 25% profit and above.
So the short answer is yes, the cake business is profitable.
Baking is a demanding job. You need to be ready to give it time to grow.
It is also very artistic.
You have to be very creative and have to know how to think on your feet.
You can even have a book where you will draw your designs.
Also, remember to be updated and check online for new sets of baking skills and what is on-demand in the cake business.
Who is ready to become a cake business owner?
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