Both independent and retail bakeries around the US are accumulating millions of revenue each year. This is based on the 2018 look by the American Bakers Association.
It’s relatively recent, meaning the industry has grown over the years and is becoming a profitable business.
For anyone who owns either an independent or retail bakery, there are still a few more steps you can do to increase your profit. These are fairly simple but needs to be executed well for them to work.
Upgrade to Better Machinery
If you haven’t yet, make sure that your bakery has upgraded to better machinery when possible. It can help increase productivity while also improving the quality of your mass-produced products.
With new equipment, you can also basically start focusing on your hand-made treats that could bring in more customers.
Purchase conveyors, depositors, and liquid filling equipment from high-quality brands that can offer support for your business.
Start Focusing on Your Marketing Efforts
Marketing and advertising are essential for every type of business. It would help if you also focused on your marketing efforts aside from the quality and taste of your products. After all, your products will go to waste if no one ever buys and eats them.
Everything can be used for marketing these days from photos of your beautiful creations down to your packaging. Properly planning the right marketing strategy can make or break your business.
Don’t be afraid to invest in advertising and finding experts in this field. This way, you can focus on creating your masterpieces and operating your business, while another team handles marketing.
Start Venturing Into Wholesale
You should also try reaching out to other businesses in your area, particularly local restaurants. They might need or be willing to sell your baked goods, and most of the time, they can’t handle on-site baking and will need to outsource.
However, make sure that you only start venturing into wholesale if you believe your bakery is already capable. A small, start-up business may not be able to fulfil bulk orders, especially without the right equipment and people.
Have Healthier Options
Make sure you can provide anything for anyone–and that includes healthier options for those looking for them.
According to the American Bakers Association, 54% of the people they have surveyed are looking for healthier options. You can introduce vegan cookies or low-calorie loaves to your array of products.
Try to introduce allergen-free products as well for anyone who might be looking for them. It can further help you if your community doesn’t have enough of these.
The more options you create, the better the chances of growing your loyal customers.
Care About Your Customers
Perhaps one of the most important things you can do is to be nice and care about your customers. Treat them as family, since they are. If you do, they’ll come back to your place again and again. Plus, they can introduce you to their friends and families.
Running any business is a continuous effort. As your industry grows, so should you. Find ways to keep up with the trends while still keeping the same product quality you offer.