Are you one of the people who has loved baking cakes and trying out new dessert recipes ever since they were little? Or did you take an interest in baking during the pandemic, and you’re already a master at it? Well, your friends and family might love you for it, and you’re probably the one who’s in charge of bringing delicious baked goods to every party from now on, but did you ever consider that you can monetize your hobby and start your own home bakery?
It might sound like an odd side-hustle idea, considering that everything we hear about these days seems to be in some way Internet-based, but there are actually many good reasons why a small bakery can give you financial independence and even propel your career.
A home bakery is easy to start and requires a low initial investment.
You don’t need much to start a home bakery: tools, bakery supplies, and wholesale ingredients, and chances are you already have these around the house if you’re a baking enthusiast. Don’t worry about industrial ovens or fancy equipment in the beginning. Start small, by promoting your home bakery on social media and local groups, and you can invest in additional equipment when you can’t keep up with the orders. Keep in mind, however, that even though your business is home-based, you’ll still need to pay licensing fees and invest in home based bakery insurance, which can save you from a lot of trouble down the line.
There’s a growing market for home-baked goods.
If you’re afraid of going head-to-head against competitors like McKee Foods or Flowers Foods, which make most of the baked goods we can find in stores, think again. Most people have already grown tired of mass-produced baked goods that use questionable ingredients and have lost their original taste, and they’re curious to try authentic, homemade recipes. If your friends are willing to pay for a tray of your delicious muffins, so will many other people!
A home bakery can help propel you to the restaurant business.
Do you want to get started in the restaurant business, but the initial costs are too high, and you don’t want to take the risk just yet, considering the uncertain state of the industry? Starting a home bakery can be a way to do that. Thanks to its low initial costs, it’s relatively low risk and, if you grow the business enough in a couple of years, you can build yourself a reputation and slowly transition into restaurant territory when the waters clear.
You don’t need advanced skills as you’re starting out.
Can’t make complicated baked goods just yet? No problem. Bakeries can be surprisingly profitable by selling just a few basic, crowd-pleasing products like sourdough bread, muffins, cupcakes, and chocolate chip cookies. Ideally, you should perfect a few basic recipes until they become your signature and, as your sales grow, you can start experimenting with ingredients and flavors and create unique recipes for cinnamon rolls, scones, or other baked goods.