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7 Replies Latest reply: Sep 23, 2008 12:26 AM by HumanArrow RSS

Opening a Bakery

poshbaker Newbie
Currently Being Moderated
I am in the beginning stages of opening a bakery, its a dream of mine, and my items are incredibly well recieved. I just don't have the capital to jump in feet first. The first step, at least I think, would be to get out in the community, distribute, and get my name out there so people even know I exist. Being in a new business in a new area, we moved up here almost 3 weeks ago, no one knows us. I would love to find a silent investor, someone to get me started with the agreement that they get a percentage of what I make and I have the option to buy out their percentage in 5 yrs. Anyone interested? I have even spoken with a real estate agent with a building that would LOVE to have a bakery, and would bend over backwards to help me. I just need the cash to renovate and get started. The area is prime, the community has been asking for a bakery producing exactly what I do. Its a win win situation!
  • Re: Opening a Bakery
    LUCKIEST Master
    Currently Being Moderated
    Opening a Bakery, Welcome

    The first TWO questions that come to mind?? Where are you?? and
    How do I get in touch with you?? You can email me at "pdeig@juno.com"

    Tell me more or email me. What is your background?? Why a bakery??

    I am a SCORE Counselor and have many GREAT ideas both on starting a business
    and marketing the business. Is there a local Farmers Market in your area??

    Write to me, include a phone number, LUCKIEST
    • Re: Opening a Bakery
      poshbaker Newbie
      Currently Being Moderated
      You asked a litte of what my background is, I have been in Event Planning for 5 years now, in my own business. In one of my events, I did a tea party for a little girl and catered it myself. Made all the baked goods, etc. and realized that it was something I loved doing. I love getting in the kitchen and creating. I take recipes and make them better. I have tons of ideas of combining ingredients to make decadent treats. Its what I love and is my dream to own a bakery. We live in North of Chicago, my husband is in the Navy on shore duty so I will finally have the time to dedicate to getting this off the ground and turn it into a very successful business. I want to be able to get into a building within the next year or so, run it for 2 years before opening another 2 bakeries within 8 more years.
      I am looking into Farmers Markets in the area, have applied to several. The issue is having access to a commercial kitchen. This is required by the Health Dept in order to sell at a Farmers Market. I am currently looking for either a caterer or a church with a kitchen I could rent out to use.
      I know it all takes time, if I have to I will sell and sell online, shipping, and also locally until I can raise about $60k to get into a space to renovate. It is that important to me. Ideally, a silent investor who believes in my dream, and can see the inevitable success of it, that I could buy out in 5 years.
      • Re: Opening a Bakery
        jknodell Newbie
        Currently Being Moderated
        Greetings! And good luck getting your business going! I cannot assist with funding, but let me know if you need any help when it comes to the renovation of your space. I am an experienced retail and restaurant designer.

        Best of luck!

        -Jonathan

        www.coroflot.com/jknodell
  • Re: Opening a Bakery
    Milleisen Novice
    Currently Being Moderated
    Before you go the silent investor route, sometimes it makes sense to think about unconventional sources of financing and less-than-ideal ownership arrangements. If your business doesn't have a track record, bank financing will be unlikely. When I've encountered people in your situation, I've suggested a few different ideas...1) Consider using a home equity loan. Many entreprenuers have done this. You are putting your home at risk, but it tends to offer the lowest rate and most flexibility. Most offer interest only for 10 years, which will give your business time to blossom. 2) Think about a working partner. While you undoubted want this bakery to be yours, finding a silent investor for a small business could prove difficult. With 80% of small businesses failing within 5 years, it's unfortunately not something investors are lining up to do. If you have a working partner, you have someone who will want the business to succeed as much as you do.

    Before you take the plunge, its important to consider the downside of entreprenuership. Are you willing to put up your life savings, knowing that there is a chance that you'll lose it? Are you willing to go without income for an extended period of time? Are you prepared to sacrafice time with family and friends in order to make the business work? If these risks are enough to make you think twice, perhaps you should try to start small. I recall watching the story of "Famous Amos" cookies. He made his cookies and gave them away to people where ever he went and started to build a following. Soon he was filling orders from friends, and he knew he had something. If you can start small and test your products, it may take longer than you'd like, but it won't cost your your shirt if it doesn't work out.
  • Re: Opening a Bakery
    Loanpro Newbie
    Currently Being Moderated
    Hello Poshbaker,

    My email address is ezbizloans4u2@yahoo.com. I can help you with some funding. Just email me and we'll go from there.

    Thank You,

    Ron
  • Re: Opening a Bakery
    HumanArrow Novice
    Currently Being Moderated
    Hi Poshbaker,

    I hope that you were able to get the funding to start your bakery. I know that it was a dream of yours and wish you much success. Please feel free to let me know if you need help with your marketing efforts. We do Grand Openings in the Northside of Chicago.

    Human Arrow
    Directing Traffic To Your Business!

    HumanArrow.com
  • Re: Opening a Bakery
    bigcloudmedia Novice
    Currently Being Moderated
    Welcome Poshbaker,

    I am sorry I cannot assist with the cash aspect but if you ever need a website for your bakery please let me know.

    Thanks and good fortune for you.

    Koji Flowers
    Big Cloud Media
    www.bigcloudmedia.com
    kflowers@bigcloudmedia.com
    "Websites...we do those."

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