The baking industry has steadily grown in the past several years with many trends pointing that there will be even more growth in the upcoming years. The current state of the bakery industry is growing so fast that it is aa great industry to start a business in. Get ideas for catchy bakery names and logos here
To give you an idea, here is the state of the bakery industry in 2019.
The retail bakery sales are expected to rise by an average of 5.% per year in the next two years.
Bakery products currently make up 2.1% of the gross domestic product of the U.S. This accounts to about $311.0 billion of total economic output.
65% of all the bakeries in the U.S have less than ten employees. At least 44% of them have one to four employees with most small retailers only having a single facility.
The sales of cakes and cupcakes are expected to increase by an average of 7.2% per year through 2021. According to experts, most sales will be driven by creative and small sized cakes and indulgent cupcakes that utilize new and unique flavors.
The average spending of a typical U.S household on bakery products is also expected to increase by up to $383.75 by the year 2021. While most of this spending will be on bread, the second-highest spending is expected to be on cakes and cupcakes alone.
Keeping these trends of the state of the bakery industry in mind now would be the best time to start a small cake business.
How to Quickly and Easily Start a Cake Business - a Step by Step Guide
If you read the facts above, there is a good chance you are more than ever convinced to start your own cake business. Here is a step by step guide to help you get started.
Start by Registering Yourself with a Local Council
Local councils in the United States have all sorts of food hygiene training and baking courses. You can also do complete these courses on the internet, some of which are offered free of cost from many councils.
Keep on Practicing
When it comes to baking cakes, practice makes you perfect. Don’t hesitate to keep pushing yourself until you have acquired the right skill set. Bake cakes occasionally and give them to your friends and family in return for feedback. These are the same people who will help spread the word of your business when you start one.
Find a Niche to Work with
Cakes come in all shape and sizes. This is why it is important to target a specific niche. You need to focus on whether baking celebration cakes, cupcakes, wedding cakes, or other kinds of cakes. By following a niche, you can create a unique identity of your business which will later help you pick the right name and brand for your cake business. This is what will make you stand apart from your competition.
Don’t Forget to Research the Market and Industry
Researching the industry is very important because otherwise, you’ll never figure out what people want and how to price your cakes. By researching, you’ll also find out what flavors are trending and what types of cakes are in demand. Visit a lot of cake shops and eat them to figure out what your competition is doing. See what people have to say about a particular business’s cake. This is your essential market research.
Learn Some Good Recipes
Baking good and unique cakes all depend on recipes. Go out to the book store and grab a few recipe books specifically teaching cake recipes. Try them all out one by one and let your friends and family test them out. Perfect the best recipes and use these as your starting point.
Be Ready to Work Hard
In the early days of your cake business, expect to spend countless hours figuring how to attract and impress your customers. You will have to experiment with a lot of different recipes, marketing tactics, and other planning aspects of your business. Hard work will pay off later.
Market Your Cake Business
Once you have set up your small cake business, don’t forget to tell the people about it. Use modern marketing tactics such as getting a website made, advertising on social media, uploading pictures of your inventions on Pinterest and Instagram. Most small bakeries get their orders from social media, so don’t forget to utilize these platforms.
Last but not least, make sure you send out your cakes in attractive cake boxes. People love the presentation and a good cake box helps them remember you for a long time to come.
Serial entrepreneur, after doing "time" in corporate America, who has learned about what products and services really work well in business today. You can learn from my experience and my associates as we shop from the internet for tools, supplies and information to build our businesses and improve the lives of our family and ourselves on our site http://best4businesses.com/
My strongest belief is that the safest, most secure and most lucrative job you can have is owning your own business. I learned this valuable lesson the hard way by investing time, energy and emotion into a corporate career only to be fired unceremoniously -when I dared think creatively outside the box. My entrepreneurial journey to starting my own business was first by necessity but then turned into a great blessing of prosperity and freedom. Graduating from the school of business hard knocks and learning how to start, manage, and then sell my business for over $1,000,000. Learned more about real life business this way that I learned in my four years at the NYU School of Business.