Forums: Discussions for entrepreneurs and small business.

As a rather inactive member - I have been reading more and more and just can`t believe what a GREAT resource this is...so it`s inspired me to become more active here at SuN. 

Anyway...I have been reading the posts about passions, etc. and have to ask the question:  What if you are burnt out with what you are doing and so strongly desire to have your own business but 1)have never had one before and 2) the business you want and feel would be a great idea is something you have never professionall done?

I`m in technology. getting an mba.  am burnt out and want to have my own business.  I love making breads, etc. and so I launched an investigation and found that the rural area I am in has no bakery and the local businesses are clamoring for a local bakery so they can get their breads, etc.  Plus my area is experiencing rapid growth.  But all I keep hearing are the negatives since I`m not in the baking field.  There has to be a way to make a good, decent profit in this ( I want 2 or 3 locations) and I can`t help but wonder why it`s so "impossible" just because i`m not a veteran in the field. 

I figure I`ll do the planning, etc. and then seek out a veteran baker that shares my vision and can be the part of the business that I don`t have experience in.

any thoughts would be so appreciated.

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Being an entrepeneur doesn`t mean knowing how to do everything, it means knowing the right people to hire that know how to do everything. So you know little about the baking industry, well, I knew nothing about "inventing" either and I seem do be doing okay so far.  Don`t let your lack of experience deter you from following your dream or passion, let your inexperience inspire you to learn.  (And again, hire the people that DO know)  Best of luck and keep us posted! 

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Leslie
Founder and President
Charmed Life Products LLC
Grill Charms™… The MUST HAVE grilling accessory that is revolutionizing the American Cook-out AND The perfect gift for any occasion!
Grill Charms
                                                                                                    

Having grown up in a family frozen dough company, I have seen many a success in the bakery business.  My advice is to start small, within your means, record your processes each step of the way in order to duplicate locations.  The locations Ive seen have the most success have included coffee, pastries, pies, soups and sandwiches as well loafs and rolls.  Come up with a fun but simple menu.  Plan on early morning baking and prep, an afternoon of local small talk, an evening of cleanup and a night of marketing.  It really seems to be a great life so, bite off more than you can chew and go for it! Also, the very cute GrillCharmer has great advice in hiring (if you must) an experienced baker.  I would not advice making him/her your partner.  This is your inspiration and you`ve go to own it!

Leslie and Neil.

Thank you  immensely for your insights.  I think I`m on the right track by at least realizing I can`t do it all and letting an expert baker help me with my vision....that isn`t to say I won`t get involved to learn - - but I know i`m not the experienced baker so I will use my skills to market and grow and create the brand. 

I have access to a local baker that was already very successful so my next steps are to contact him and discuss an arrangement.  I like the advice to NOT partner but I`ll at least have a good mentor hopefully and an already familiar name! 

It does sound like i`m in for some long days ahead......

 

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Profit in running a bakery - making money - comes from close attention to margins. The very cute Neildo has given you good advice.

Thank you to the very cute CookieMonster.  yeah - I`ve heard that cost control with food is absolutely crucial or you can go broke fast!  This will be one area I have to pay close attention to!   But I have heard that once a bakery gets some rather nice sized accounts - you can definitely make money.

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You are all so very cute!!

Best of luck Shane!

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Leslie
Founder and President
Charmed Life Products LLC
Grill Charms™… The MUST HAVE grilling accessory that is revolutionizing the American Cook-out AND The perfect gift for any occasion!
Grill Charms
                                                                                                    

Wow someone just said I was cute! There is first time for everything! Thanks for the kind words Shane, I return the compliment.

Yes, you can definitely make money selling bread and other baked goods. I buy bread several times a week and of course ... lots of cookies. A bakery is usually a popular spot in town and I think has a good chance of success as long as you have a few "must have" items. A bakery is a business that really needs to be carefully considered with respect to competition, as superstores get so much traffic that it can be hard to compete. There is a local chain of bakeries in MN that make great bread and seem to do very well. Their bread is delicious. I think they`ve made really smart choices with respect to location, as their stores are always near businesses with a lot of walk-in traffic ... like Starbucks.

http://www.greatharvestmn.com/