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"In other words, (it's) a help in managing a business, but not in writing a business plan."Sapienza, vice president of operations for the Retail Bakers of America, recommends paying a professional to write the plan or asking a b-school professor for advice.Kevin Van Deraa, owner of Cupcake in Minneapolis, opted for a hybrid approach when developing his plan.Remember that costs vary significantly depending on the region, state, city or rural area in which you plan to operate.
Private research firm Anything listed bakeries and baked goods as its eighth fastest-growing industry hospitable to small business this year, saying "growth may be the result of people cutting back on larger entertainment expenses (e.g., vacations) and choosing instead to spend more on daily indulgences."Without the right recipe, however, dreams of getting a bakery off the ground could crumble like a cookie.
This guide will show you how to perfect your recipe for success.
Here are some ranges for the costs of opening various types of coffee businesses.
(Costs are based on proprietary research of independent coffee shops and are current as of January 2019.) If you already own a suitable building or have a complementary business such as a bakery, your costs might be much lower.
Dig Deeper: Industry Profile: Bakeries and Baked Goods How to Write a Bakery Business Plan: Software or Business Professional?
No need to worry about your lack of business school credentials.Sugar and spice and everything nice – that's what bakeries are made of, right?The model looks easy enough when it seems like a new cupcake bakery opens every week."If someone's going to open up a cupcake bakery, I don't think they should play up the adorability of it. In addition to baked goods, Cupcake also serves breakfast all day, quiche, paninis, salads and soups.Just have more a focus on the food."Van Deraa found in his market research that a standalone bakery concept didn't appeal much to his target audience. And six different categories of cupcakes – simple, gourmet, premium, party line, baby and celebration. Some have never even tasted the cupcakes, he said."It's helped us as a business to have more offerings especially if there's a diet fad," he says, with a laugh.If you’re dreaming of opening a coffee shop, two questions you’re probably asking yourself are: “How much does it cost to open a coffee shop? ” There’s no hard and fast answer on how much it costs to start a coffee shop.Your costs will depend upon the type of coffee shop you want to open, the costs of retail space in your community and many other variables.Most importantly, he suggests viewing the plan as an evolving document, not something to be filed away once the business gets going. location, got mentions in both magazine before its grand opening in June."Go back to it and compare your estimates to your actuals," he says, "and you'll have a more realistic sense of how to move the company forward."Dig Deeper: How to Write a Great Business Plan How to Write a Bakery Business Plan: What's in a Name? When Adriano Lucas opened a New York City bakery called The Best Chocolate Cake in the World, the press, well, ate it up. Hoards of hungry choco-holics consumed 400 cakes during opening weekend alone.How to Write a Bakery Business Plan: Conduct a Market Study There's little doubt that bakeries are big.Bakeries, pastry shops, and bagel sellers are growing at a rate of 5 percent, according to Anything Once these costs are known, then costs of ingredients and packaging can be determined from sales projections and current commodity costs, O'Donnell said.