Read this First Before Starting a Business in Baking
The reality is this: chefs can get too comfortable with creating but handling the business side really is a complex matter altogether. Chef Aileen Anastacio shares some of her tips and tricks on starting a business in baking. Make sure to follow these steps to help you start making your passion your profession.
- It helps to take a course in business
Being a business graduate herself, Chef Aileen highly recommends taking a few lessons on business. Whether it’s a whole degree or just a one-day workshop, knowing your way around the business side of things is a big plus in starting your own bakeshop.
- Find your niche
Like in other things, it is important to find your signature style. “It’s like putting a stamp on your cake that says it’s made by you. It’s your signature. What would make it distinctly you?” explains Chef Aileen. People will most likely remember you and come back for seconds or thirds when it’s really good.
- Slowly but surely
One common pitfall is when bakers rush themselves in expanding or opening new branches even when they’re not yet ready. Before you do this, make sure you are well-equipped. Before taking the leap, ask yourself if you can handle all the heat at the moment.
- Price it wisely
Having enough resources is what will keep your business running, which is why it is very important to price your products accordingly. Chef Aileen notes, “If it’s too low, you wouldn’t earn as much. If it’s too high, the market that you’re trying to target might not want to buy it.” Know what profit margin you want. The rule of thumb is that you would want your food cost to be 35% or even less. Another technique to find the perfect price is to put yourself in the shoes of the customer and ask yourself if you would indeed buy your product.
- Your product should look good and taste good
While it is important to make a good first impression with the packaging or the plating, you shouldn’t skimp on the taste. Millennials are known to want the Instagrammable ones but just because it looks good, it doesn’t automatically mean it’s delicious. “If it doesn’t taste as good as it looks, what happens? They wouldn’t want to try it again. You’re not building something that is sustainable,” says Chef Aileen.
Opening a pastry business is hard but sustaining it is even harder. Surely, these helpful tips from Chef Aileen will set you on the right track.
Grab A Piece Of Cake today for some dessert inspiration for your food business!