Your cake-baking hobby might just be your next lucrative business. Why not make money doing what you love?
Whether you have been baking for years or just learned, starting a cake business can be a fun and profitable way to use your skills. Don’t worry, we will let you know.
Do you want to learn how to start an online cake business from home, but don’t know where to begin? You’re not alone, We are here to help you create one and explain things you need to know in order to sustain it.
Why cake is a good business
Are you new or have experience in cake making? Whatever category you belong to, the following factors apply.
- Minimal Investment
Starting your business in cake baking takes minimal investment. It is one of the most profitable low-cost hyperlocal business ideas. The equipment is sometimes available at home. And if you are on a budget, this basic equipment would be needed in the cake business.
- Baking is a mental treatment
It is a proven fact that baking is meditative for your health. It also stimulates the senses and increases good endorphins. Baking is an art as well as a science.
- Less Manpower
You need not hire a full team to run this business. It can be grown and maintained independently. By this time, an increase in demand shall lead to the hiring of individuals. My wife has been in this trade for over 15 years with just two employees. And it has been a blast.
- Everlasting demand
Demand for cakes will always stay inelastic. The world likes to celebrate and cakes make it even more happening. Every celebration is incomplete without a mouth-watering cake. Cakes are an integral part of every celebration. A birthday party, anniversary, promotion, or even a breakup party. The list is endless.
How can you make your cake business more profitable?
Is the cake a profitable business? How much profit do bakeries make? Yes, the cake business is lucrative and will always be. Implementing the following strategies could help you boost profits:
- Cake lessons; Teach baking classes, where students learn everything from baking to decorating. Be careful to not give away too many trade secrets though.
- Product; You should consider offering additional baked goods, such as cupcakes, cookies, and pies. Seek out a partnership with high-end hotels and restaurants in the area. Carve out a niche for yourself that isn’t currently being served. For example, a bakery that produces gluten- and sugar-free goods could appeal to those with allergies and special dietary requirements. Or, you might decide to sell lavishly decorated cakes if there’s a need for such a bakery in your area.
- Pricing; How much should I charge? How you price your baked goods impacts your profits. Pricing can be based on the cost of ingredients, your time, and delivery expenses plus a percentage of profit. You also can base your prices on what the market will bear. For example, if you are the only bakery offering gluten-free cakes, you might be able to price your cakes higher than others.
- Production cost; Typically, ingredients are a major bakery expense. Using real butter, whole eggs, cream, and natural flavorings increases expenses as opposed to using less expensive margarine, processed eggs, milk, and imitation flavorings. But, even when you use the best ingredients, you still can cut expenses by buying in bulk. The challenge is having the storage capacity for bulk ingredients, such as bags of flour. Also, consider packaging, delivery costs, electricity, insurance, and of course, employee wages if any.
How to promote my baking business
Having the skill in making a perfect cake isn’t enough. How to get customers for your cake business is simple if you follow our advice. In order to grow in business, you should be able to let the word out. People outside your family and friends need to have your product in front of them. How do you do that?
Word of mouth
Word of mouth will, ultimately, be your strongest marketing tool as a beginner. While building your reputation, consider free online resources, such as social media and local business registries. If you become a member of any organization, inquire about their online listings, which are often offered free of charge to members. Distribute mailers within the community and become a sponsor for local charity events
Wedding fairs
This is a great place to be. Not only do you get to meet prospective customers but you also get to meet other cake decorators, vendors, and suppliers. Visit church venues where the marriage course is happening live. Introduce yourself to as many people as you can. Give customers a taste of your cakes. Make some dummy wedding cakes that showcase your talent.
Develop an online presence
You make a product that looks beautiful, so photographs are key.
Set up a simple website with important details like what you do, where you’re based, and how people can place an order, and add plenty of mouth-watering photos. There are tons of website builders to choose from, including WordPress, Squarespace, and Wix.
Leverage the social media
It’s important to interact with other people on social media, so spend a few minutes each day liking and commenting on other people’s posts, and following relevant accounts. Set up accounts with Facebook, Twitter, Instagram, Pinterest e.t.c to help the visibility of your cake business.
Paid advert
Facebook ads, Google ads, and other media ads are some of the ways you can exploit to let people know about your business. The unique benefit of social media marketing for small businesses is that it allows you to talk directly to customers and followers. You can build relationships over time, rather than asking for a sale upfront.
Benefits of cake business
Cake life
I think the most important thing to know before starting a cake business from home, is that when you do, you will have one of the best jobs in the world. You are part of so many special occasions, you make so many people smile, and your art and talent will bring joy to so many families, and that is really something to be proud of. But it really is an awesome job that is so much more than just cake.
If you’re like me, you love the creativity and ability to make something beautiful and delicious for people who are celebrating important moments in their lives. You love knowing your artwork will be the center of the table and guests will ooh and aah over how amazing it is or how smooth your buttercream icing looks. Then they will send you emails and texts thanking you and telling you how they can’t wait to have another cake from you!
Skill acquisition to the children
I’m always thinking of what I can do to give my kids a better advantage than I had. My wife’s mother makes the cake so is her grandmother. Now my wife has in turn passed this skill to our kids of 12, 11, and 9 years. They assemble ingredients and whip up cupcakes, flakes, and the like. Ultimately that’s what any decent parent wants- their kids’ lives to be better than their own.
Parents are the largest resource hub available to their kids.
And if you are still learning the art of cake making, why not learn more about the tricks and hacks of caking making dedicated for you?
Our skills, talents, and knowledge are a tangible set of shareable assets that we can pass down to our children. The cake business presents an ample opportunity for this to take hold naturally. They may or may not fall in love with what you love, or become great at what you are great at, but exposing them to the idea is a great model for their own journey through adulthood. When we share with our children we create new memories and tender moments, and we inspire in our children a desire to be passionate or good at something. Even if our kids do not love the same things we love, exposure to our lives teaches our children to have an appreciation for living a full life. The cake business is a sure opportunity.
This is Priceless!
Share With Love
