Would you expect someone to give you all the time in the world to deliver an average product, while letting you charge as much as you want for it? Sounds absurd, right?
As you know, bakery sales are rarely constant. It’s inevitable that your bakery will experience some quiet periods. Keeping the competition at bay, bringing exposure to your brand and adding additional revenue is a constant challenge for any bakery owner.
Technology is bringing new opportunities and profitability to many sectors. It’s a driving force challenging the most established companies to modernize and to stay relevant. Compared to other industries, the food sector has been slow to adapt as brands continue to get away with misleading country of origin information, price fixing and erroneous labels.
Finding a space for your small bakery operation is one thing, but leasing a commercial retail bakery space will be one of your biggest operating expenses. Dozens of details could go wrong. It involves more than finding the perfect business location and signing an affordable lease; it will take careful planning, great negotiating skills, and proper budgeting to find a suitable place that will meet your needs.
As we emphasize in our new book, Negotiating Commercial Leases & Renewals for Dummies, the leasingprocess is not a simple task. Considering the number of steps involved and potential hurdles you may face, property planning and allowing for ample time can save you aggravation and - more importantly – money.
Imagine closing your eyes and throwing a dart at the Wall Street Journal to pick a stock you had to invest your entire savings in. You can't look at the price until the last day of the year. Nervous? Probably. Yet, this is how most businesses plan. They choose one time a year, develop a plan, put it in the drawer only to review it at the same time the following year and hope they achieved their goal. This approach is not a good investment strategy, nor is it a good business planning process.
So you really want to open up your very own bakery? Welcome to part 2 of my opening a bakery business reality checklist. Once you have decided what type of bakery you want to run, got the proper business legal papers, permits, and licences, as well as your business plan together (part 1), it’s time to think of the equipment, display cases, and packaging that you will need.
Many of my friends and family members are excellent bakers and some of them always talk and dream about opening a bakery. If you are thinking of opening your own bakery, let me tell you that you need a reality check checklist. Opening a bakery may seem like a piece of cake, but there is a lot involved in starting a new bakery and it can be a very costly venture.
Ahhh, the smell of freshly baked bread or sweets! But what about that sweet smell of success? Having a business plan for your bakery can be the key to making your business thrive.
One of the biggest frustrations I hear from my clients is the amount of time and effort it takes for them to put together proposals, particularly those that don’t end up winning the business. Unfortunately, the standard approach to making client proposals usually involves describing your products or services, including some corporate background, adding a few references, and finishing with pricing information. This is the last approach you want to take. It practically guarantees you’ll miss the mark. And worse, preparing and delivering these kinds of proposals soaks up significant time and resources that could be better spent elsewhere. Here are a few tips I share in my seminars on how to deliver proposals that actually boost your business.
When entrepreneurs embark on a new venture, legal issues are rarely top of mind. Business plans, bank loans, and logos all take precedence over regulations, licences, and liabilities. Caught up in the excitement of opening a new bakery, bakers are as guilty as any entrepreneurs of neglecting legal details until the last possible minute.
Toronto - Restaurants Canada has joined with GE Capital Franchise Finance Canada and Big Picture Conferences to launch a new event designed to help foodservice operators stay at the top of their game.
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BAC Atlantic Chapter Annual Golf TournamentTue Sep 17, 2019 @11:00am
BAC Ontario Chapter Night at the RacesWed Sep 25, 2019 @ 6:00pm
BAC BC Chapter Fall Baking Workshop: "Quest for All Things Sourdough"Wed Oct 23, 2019 @ 2:00pm
BAC Ontario Chapter Annual Holiday SocialFri Nov 29, 2019