If you enjoy baking, you might have considered how you can turn it into your career. Food is essential and baked goods are very popular. In fact, bakery products make up 2% of the United States’ GDP, bringing in over $300 billion each year. So, turning your baking hobby into a business can be a realistic goal. However, it is important to do it correctly. Many people try to turn their hobbies into jobs without planning things properly. If you are serious about turning your baking hobby into a business, follow these tips.
You might have dreams of wild success. If your friends love your baking and you’ve maybe sold some treats in the past, you might think you’ll make a steady income from the beginning. However, this isn’t the case for many. As your business begins, you need to be realistic about your expectations and your plans. How are you going to support yourself? Many people freelance as they build their businesses. Freelance work is very popular and expected to make up most of the US workforce by 2027. So this could be a way to pay your bills as you grow your business. It will add more work to your plate but could be necessary for your survival.
One good way to stay realistic is to set up a business plan. If you go into your business with a clear idea of what to expect, you won’t get disappointed when your food sales aren’t as high as you want them to be just yet.
Know Local Regulations
When you’re selling food, there are certain laws you need to follow. People want to know that their purchase comes from a sanitary bakery where the food is handled safely. To sell food, you’ll likely need to have inspections and get permits. Learn all of these things in advance. Otherwise, you could end up in legal trouble before your business even has a chance to succeed. Your local government can answer any questions you have about the laws around bakeries. So talk to them and add their answers to your business plan.
In order to attract customers, you’re going to need to advertise your business. While you can do in-person advertising, the internet is going to be a major part of any modern business’s marketing plan. Take advantage of social media, using both free and paid content. Social media ad spending hit about 132 billion dollars in the US in 2020 and is expected to reach the 200 billion dollar mark by 2024. So there are a lot of businesses competing to get the attention of crowds of people. Plan out your digital marketing in a way that makes your bakery stand out from the crowd.
While your business plan is an important part of planning, you should do so in all aspects of your business. You want to plan out both the next day and the next five years. The more you can plan ahead of time, the more in control you’ll be. Then you can enjoy the time you spend working at your business, rather than trying to hold everything together on the fly.
Turning your baking hobby into a business can be a great way to set up a new career for yourself. If you decide you want to do this, make sure that you treat it like a proper business. Focus on the baked food, but also make sure you know what you’re doing legally and financially. In 2020, the percentage of Missouri residents who decided to open their open business rose to 0.37 percent. Follow in their footsteps and open your own business for yourself. By following these tips, you’ll set yourself up for success in all parts of your bakery business.