The global pandemic has highlighted the lives of many people. It has decimated the hotel industry and cost thousands of people their jobs and livelihoods. However, it has helped others to realize that they want to get a little more out of life. In fact, more and more people are looking for their own company to create freedom and flexibility in life.
As surprising as it may sound, the global pandemic is a great time to start a food business. But you have to be well prepared if you want to start making money selling home-baked goods.
CHECK THE QUALITY OF YOUR ASSETS
The first step is to think about what you want to bake. If you plan to bake produce at home, you are probably passionate about cooking and some specialty dishes. This is a great place to start.
Before doing anything else, prepare some of your specialties and invite your close family and friends. Make it clear to them that you want a completely honest opinion about the food. If you can’t trust your friends, mix in some strangers or co-workers.
You need honest opinions to confirm that you are preparing high-quality food. If it doesn’t taste good, it won’t sell!
KNOW THE REGULATIONS
The next step is to check the legal requirements in your area. You may need professional certification, food hygiene certificates, and a facility inspection.
It’s best to check with your local state office and find out what the local regulations are to make sure you follow them before you start baking.
YOUR BUSINESS PLAN
When you bake products to sell, your goal is to make a profit. That means you need a business plan. You want to list all the costs involved in producing each baked product. Those are the ingredients, cooking time, your time, and a fee for the equipment you need.
Then you can calculate the minimum price that your baked goods must be sold at to break even and a little more to make a profit. The plan is essential to ensure you have the finances to start a bakery business.
ORGANIZE YOUR NEEDS
At this stage, you want to look for the best catering supplies. It’s all the equipment you don’t already have but need to make or package your baked goods.
It is important to take the time to consider all options and prepare everything before starting. A good supply company provides inspiration and quality products.
DON’T FORGET THE INSURANCE
Don’t forget that you need insurance to start a business. This covers you in case there is a problem as a direct result of eating or even handling your baked goods. The insurance doesn’t have to cost a fortune, but it will save you a fortune if someone wants to claim it.