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> TOP TEN TIPS FOR A SUCCESSFUL BAKERY

TOP TEN TIPS FOR A SUCCESSFUL BAKERY

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Running a successful bakery takes more than clocking in at five in the morning and churning out delicious treats. The food industry is highly competitive with dozens of new bakers coming on the scene every year and if you don’t stay up to date, you could find yourself losing business.

Running a successful bakery takes more than clocking in at five in the morning and churning out delicious treats. The food industry is highly competitive with dozens of new bakers coming on the scene every year and if you don’t stay up to date, you could find yourself losing business.

1 - Protect Your Investment

Nothing will cause a bakery business to shut their doors quicker than a lawsuit and financial fallout. Even if you’ve done nothing wrong, legal fees can mount quickly for many small businesses and, without a financial safety net, wipe out your operating expenses.

Having bakers insurance is one way you can keep your ovens hot and your cash register ringing. The bakery who plans ahead and

prepares for emergencies is the bakery that keeps the lights on and is able to move on to eventual success. Your bakery is your dream. Don’t let a potential liability risk turn into a nightmare.

FLIP Insurance can help your small bakery business obtain coverage for both general and product liability. Plus, you can purchase liability insurance with free additional insureds if your business also includes a food truck or mobile concession trailer.

2 - Diversify

Having multiple income streams is a sure fire way to ensure success. Even if one income stream dries up or is seasonal, having diverse income sources can mitigate the losses.

Bakeries have a ton of options when diversifying their small businesses. Mobile dessert food trucks are popular in many cities and companies often contract with bakers to provide catering services. Consider adding an online storefront and sell your baked goodies through the internet.

When diversifying, make sure to assess your capabilities, workflow management, and the costs associated with expanding—a steady expansion is more sustainable than a rapid rise. You don’t want to create an unsustainable surge in business and deflate like a bad souffle.

3 - Build A Social Media Following

Make social media a priority to grow your business presence and awareness online. By connecting with your customers on social media sites like Facebook, you can build a following by offering enticing deals or build hype for your food by showcasing your special of the day.

You can also connect with other small business owners on sites like LinkedIn to collaborate and look for new business opportunities. As a bakery, there are many other food service businesses you can network with, like caterers, that can create great opportunities to grow your business, like being featured in important business meetings or upcoming fairs and conferences.

If you have a mobile bakery food truck, try putting a social media handle on your truck so customers can follow you and find you wherever you are parked.

4 - Optimize Your Website

Having an online presence legitimizes your bakery business. Build a website and optimize it with searchable terms that match your business such as “Wedding Cakes Utah.” This is called Search Engine Optimization—or SEO for short. A good SEO strategy will help people searching for bakery products in your area find your bakery.

If websites or SEO writing is not your forte, consider contracting with a professional to help you build and maintain your site. Your website can also become a storefront if you are interested in mailing your bakery products nationally. To mail internationally, check customs rules and regulations before offering those services.

5 - Network! Network! Network!

Asking for referrals or introductions is one of the swiftest ways you can build a bakery business and become more successful. Form partnerships with other small businesses and take advantage of their networks to spread your influence even further.

Become a thought leader in your space. Blog about the ins and outs of running a bakery business, mentor other new bakers, offer baking classes, and post baking recipes and tips online.

6 - Collaborate With Your Community

Develop strong policies about charitable giving and friends and family requests. You don’t want to give away your shop for free, but strategically choosing charitable opportunities can reap huge dividends when it comes to growing your business and becoming a part of your community. 

One local bakery contacted the nearby elementary school and offered to host class field trips. The baker gave students a coupon

and as a result gained hundreds of new customers when the student’s parents came to her bakery to redeem them.

7 - Put A Twist On It

Small bakeries like yours have to really stand out from the competition in order to succeed. Consider offering products and services that competitors in your area don’t have and make sure to advertise what makes your business different.

Maybe your mobile dessert truck is the only bakery offering doughnuts and coffee around town. Be different, spark a conversation, show the unique creative side of yourself.

8 - Get Feedback

Your customers are your best source for feedback and review. Listen carefully to any complaints and be responsive. It’s far easier to retain a customer than it is to attract a new one. Post online surveys, ask what items are favorites, take requests, and really understand what your customers are looking for, then provide it.

When offering a new food item, ask your customers to rate it. Offer two new food items at a time and analyze which gets the most sales. Consider adding a high-demand seasonal item to your regular menu if you can obtain the ingredients all year long.

9 - Hire Help When You Need It

Burnout is a serious problem for bakers. The early morning hours, the long hard days, the hot ovens, and the everyday demands of running a small business in a competitive market can drive even the most dedicated baker out of the business.

To be successful and stay successful, you can’t do everything for everyone at all times. Hire help and regularly assess employee performance. Take time off to recharge your batteries and practice good self-care.

10 - Pay Yourself First

It’s tempting to throw all your earned money back into your business, but there are a few things you should do to secure your future. All bakers should invest a portion of their income into retirement savings. Plan for emergencies and purchase health, life, and disability insurance just in case things go wrong. Have an exit strategy for your business when you retire. Will you leave your bakery business to your children or to a loyal employee? Will you franchise? Make a plan for every contingency and your business will thrive.

Share Your Story with FLIP

Do you have any success tips or tricks for your fellow bakers? Are you a small business owner who has followed one of these tips and has a story to tell? Have you ever gone without liability insurance and then regretted it?

We at FLIP would love to hear and help you share your stories. Feel free to contact us and tell us about your moments of success and your industry lessons.

Get Covered Today

Want to know more about FLIP’s insurance programs for bakers, mobile food trucks, or at-home bakery’s? Just take a look at FLIP’s bakers insurance program for more information!

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