Are you a budding amateur baker that wants to turn your passion into a profit? It seems you’re not alone. From 2012 to 2016, there was a 1500% increase in new start-up bakeries and the market continues to grow. With shows like the Great British Bake Off fuelling people to pick up their spatula and mixing bowl, or simply tempting them to tuck into tasty treats, the market size is said to be worth a whopping £8billion.
If you’re keen to take a piece of that pie, but not sure where to start, check out our top tips below.
Get started as self-employed
You’ll need to register your new bakery business with the local authority before you start up. This is quick and easy and doesn’t cost anything, but is required by law as a food business. You’ll also need to let HMRC know that you’re starting a new business and are self-employed, regardless of whether you’re working full or part time. Make sure you speak with your landlord or mortgage lender about using your property for your business and make sure you have their permission to do so.
Nail the business basics
For your business to have the best chance of success, you need to get the basics right. This means having a strong business plan in place to make sure you’re fully prepared for what lies ahead. You should also prioritise money management and think about cash flow – as this can make or break many businesses. Don’t forget to make a list of expected expenses, like equipment, baking goods and so on to make sure your initial investment will cover what you need. You’ll also need to organise the relevant insurance, which is likely to be both public and product liability insurance.
Prioritise hygiene
With any food business, it’s essential to make sure your preparing your baked goods in a clean and hygienic environment. Once you’ve registered your business, you’ll be visited by the relevant authority who’ll check your preparation areas meet the required hygiene standards. You’ll need to put procedures in place to manage any risks linked to food, based on the Hazard Analysis and Critical Control Point principles which you can find out more about through the Food Standards Agency.
Master your marketing
If you’re first starting out, it’s unlikely you have a huge budget to spend on marketing. But that doesn’t mean you can’t connect with your desired customer base. There are many ways you can get your brand out there, for instance creating eye-catching flyers and leaflets that advertise your services. You could also create a website with photos of your work, a price list and your contact details, as well as set up social media accounts for your business. Instagram is a great place to showcase the beauty of your bakes and tempt people to buy!
Now that you’ve read our top tips, you can start getting a plan in place for your new bakery business!