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.
Private Equity Groups have not been hard-hit by the credit crunch or the stock market decline. They have capital to invest and are looking for business acquisitions.
Earning a solid reputation for consistent, high-quality or value-driven products will help you build a strong consumer base at home, but eventually future growth may mean looking beyond your nation’s borders.
Feb. 4, 2104 – As the cliché goes, we can learn from our mistakes. And no matter how hard we try to prevent errors, they will happen. Here are 10 questions to ask yourself in order to help you learn from your customer service oversights.
Five years ago, two friends who had known each other for many years decided to establish a business.
Insights into how North American bakeries have been building their portfolio and their brand value.
What are your financial statements telling the outside world?
How to better plan for your retirement when you don’t have the luxury of a guaranteed pension
For more than 40 years, credit card companies have collected fees on sales because they can offer consumers and merchants the value of convenience.
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Bakery Showcase 2019 Trade Show & Conference
May 5-6, 2019