Are you that person in your group of friends whom everyone turns to for tasty treats? Is baking cookies, cakes, or confectionery your mojo? If so, then let me show you how you can monetize your hobby into a steady revenue source.
If you are thinking, “But there are already plenty of businesses doing the same, how can I stand out?” then you’re already on the right path. You don’t wish to be a generic old fashioned home business. Continue reading to find out the essentials of a modern-day home-based business.
Things in your Favour
- If it’s your hobby, you already enjoy it!
- If it’s not, congratulations! You now have a great hobby to be proud of
- Trial and error is acceptable, no pressure whatsoever
- Low cost
- Can go viral, your product can easily become the talk of the town in a couple of months
Things not so much in your favor
- Consistency and Patience are needed, quitting over frustration is a threat to avoid
- The competition is real!
- Time-consuming – again, Patience and Perseverance are necessary
- If you don’t already own the equipment, you might have to spend a bit. But hey, you can use it for personal use as well
- Keep the shelf life aside, people love freshly baked stuff so you might not be able to prepare batches in advance
Step-by-Step Guide to Start your Home Baking Business
Research on State Laws regarding Food Safety:
Different states have different food regulation laws that every food outlet is required to follow. Start with a Google search and read as much as possible. You can contact your nearby bakery owner to get more info. You can also contact regulatory authorities online and get their contact info using sites such as Justdial.
Decide on your Menu:
You want to include the best of your palette-pleasing dishes here. The fragrance of your specialties must salivate those who come close to your product. You can have just a good range of cookies, or just cakes and bread, or any combination that matches your skillset. Take your time to fix the menu and spend some more to decide on the font, color, and graphics. (Friendly tip: Red and Yellow make people crave food- Think of McD)
Decide on the Name of your Business:
Keep it short, catchy, and easy to pronounce. Think of Nike, Adidas, Apple, etc. great names are uncomplicated and simple to remember. Make sure you don’t violate any copyrights. Make it unique and memorable.
Fix your Business and Marketing Plan:
Set realistic and quantifiable goals in terms of revenues and profits. Also, plot your marketing map and the social media strategy for your business. Creating and distribution of content require some critical thinking and consistent execution to work. Choose the number of social media platforms on which you will be able to distribute pictures of your products, information about upcoming sales, offers, feedbacks, contests, and other interactive content to gain traction for your business. It sounds overwhelming but trusts me, every Boss has had to go through the struggle to become one.
Price your product:
Now remember that you’re still a startup. Do not charge heavily for something that your competitors sell at half the price. Open that spreadsheet and calculate your costs and add a small margin over it to penetrate the market. If your product fits the premium description, then, by all means, charge accordingly, but ensure that the quality is uncompromising and satisfactory at the least.
Order Packaging Material:
Do some research on different materials and their prices. You can Google search and either order the material online or get details of suppliers with whom you can have a contract for regular supply once you have a steady business with regular customers. Keep in mind the colors and fonts since they create a bigger impact on your customers’ minds than you imagine.
Approach local shops to sell your product:
Not 100% of your sales need to be online. If you have a coffee shop nearby or a food outlet that has a good footfall, then approach the owner with a sample of your freshly baked products. The initial ‘getting the approval’ is the only tough part in the process. Once they like your product, you are all set to make good gains in your business.
Upgrade your cookie baking skills:
Even though your product is amazing and is selling out in the first month itself, ensure that you don’t get complacent! Have an open mind and the vigor to expand your horizons to get the best out of your baking business. There’s no telling how big your business can go; if you have the determination then the sky is the limit. Enhance your skills by learning from online cookie baking tutorials available by one of the expert cookie chefs, Stacie Bennett here on Learn it Like Aliens. By the end of this class, you will have an edge over your competitors and will be adept at baking even superior products than ever before. Oh, and you can check it out for FREE as you get a 7 Days Trial.