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Are you missing these 3 important things in your small bakery? If you are, they could be detrimental to your bakery business. Can you guess what 3 mistakes most people make when starting their bakery business? There are 3 most common reasons your small bakery business will fail.
Marketing and branding your bakery
Understanding and tracking your financials
Master your pricing
Marketing and Branding Your Small Bakery
If you do not have a marketing and branding plan for your bakery you are doomed to fail. Marketing is one of the most common reasons your small bakery business will fail. You can have the best products in the world, but if people don’t know you exist, they will not find you.
It is not an “if you build it, they will come situation”. You will need to put in the hours to create and execute a marketing plan from hitting the pavement and spreading the word to creating a digital footprint for your bakery.
Understanding and Tracking Your Financials For Your Small Bakery
We have spoken about this extensively in our blogs, books, courses, lives, RU-vid channel, and podcasts. It is so important that you understand where your money is, where it is going, and how it was spent. Understanding and tracking your financials is one of the most common reasons your small bakery business will fail.
Our pastry chef, our mom, spent 20 plus years in the accounting field before leaving the corporate world behind and becoming a pastry chef. Our business has been built on a stable financial foundation because of her.
Through our journey, I can personally tell you how important it is to keep your personal and business finances separate, tracking all income and expenses, and understanding how money is flowing in and out of my business.
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19 дек 2022
