Running Three Leee Cupcakery from home gives Victoria the flexibility be present to her young family and pursue a degree in business while bringing in income.
With Michelle and Barbara’s help, let’s get the planning process started.
It will help you define your business, set goals, find ways to generate revenue, list expenses, identify your customer base, and examine your competition.
As part of your business plan, you’ll dive into finances.
Wherever you decide to run your bakery, be sure to think through the pros and cons and their related costs.
Most bakers base their retail price points on the cost of supplies and the time it takes to make the goods, but Green says this formula is flawed.Do not forget to consider the legal necessaries—which will vary state to state—such as obtaining a license to bake out of your own kitchen.Roe says that following some simple guidelines laid out by the USDA lets her earn an income, develop wholesale relationships with local restaurants, independent hotels, and coffee shops, but still enjoy the benefits of being a stay at home mother.Be sure you’re not making this decision in a bubble—you will want to have your ear to the ground on national trends in the industry—remember the cupcake shop craze (and the cupcake-focused reality TV shows) a few years back?But don’t simply take your findings at face value either.Most of her customers find her through word of mouth or learn about her business when they taste one her creations at a local coffee shop.She focuses on gluten-free and vegan–but you’d never know it to taste them.You won’t make profits overnight, so you need to sit down and figure out when you’ll break even and how much money you’ll need to survive until that time.If you’re running a bakery from your home, you’ve already got your space figured out.Are you the one that makes killer cakes for every birthday? If you’re ready to turn your talents into a profitable bakery, you’ve come to the right place.We’ve teamed up with a few amazing bakers who were willing to share their great business advice.