Running your own home bakery business isn’t always easy. Definitely, all sorts of things can go wrong. All you can do then is learn from your mistakes and change the way you do things so the same thing doesn’t happen again. Now, here’s a list of some of the 5 common mistakes a home baker should avoid.
Hopefully, reading them will help prevent these things from happening to you. Let’s dive in.
Not realizing that you are in business
It’s so easy to get sidetracked and forget that this isn’t just a hobby anymore. You’re here to make money now and make other people happy.
Basically, you need to have the mindset of a business owner and think in a whole different way.
Not keeping track of all your expenses
When you are just starting your business career as a home baker, it’s easy to have the mindset that getting the ingredients for your baking isn’t part of your expenses. But remember, as soon as you start making money off of your baked goods, you need to keep track of every single expense.
Even if you don’t believe that you’ll make the money back any time soon, it’s a good habit to get into as a new business owner.
Writing everything down even makes you feel more like you own a business. This helps in getting you in the correct mindset faster. It will help with taxes too. Agree?
Worrying too much about your competition
Sure, you always need to be aware of your competition. But don’t put all of your focus and stress on it. You have other things to be concerned about to ensure the success of your home bakery business.
So, instead of spending time stressing over the competition, spend that time on marketing and promoting your baked goods, or exploring new recipes.
Waiting for customers to appear out of nowhere
One of the common mistakes a home baker should avoid is waiting for your customers to come by and buy your baked goods. You aren’t going to get customers by just standing around. You have to make your business known through strategic marketing and advertising.
It isn’t enough to be great at what you do. Indeed, you should get out there and make connections with people. Social media and bazaars are a great way to get your name and product out there.
Also, it’s important to note that you can’t heavily rely on your action plan. Sometimes, it pays off to venture outside the box and try new ways of advertising and letting people know about your business.
Not knowing how to price your baked goods
Pricing your baked goods is a hard skill to master. Even I, until now, struggle at it.
You obviously don’t want to make your prices so high that people wouldn’t want to purchase your baked goods, but you don’t want the price to be too low because then you’ll be losing money.
Don’t get nervous when you first start out and people ask about your prices. It’s a bad habit to start applying discounts to everyone that comes in to buy your baked goods. Word will get around that you’re a “discounter” and you’ll never make enough money to stay in business.
Starting a new business is daunting but everything will get easier with time. Try to take note of these common mistakes a home baker should avoid and everything will be just fine.