To start a cupcake business can be an interesting and simple venture, especially if you have already a baking clientele. Cupcakes have become very popular and they are distinguished by their contents and toppings. They are served at dinners, weddings, celebrations, parties and come in many different varieties.
This is a product which will demand your imagination. Because this is a competitive business you will have to be very aware as to your costs. Doing this from home will reduce your costs and allow you to compete successfully with the cupcake shops.
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Who is Your Customer
What your customer, specific to this business needs:
These people are going to want a product that is better than your competition can produce, it is going to have to be attractive and pleasant tasting, the decoration will have to be unique, it is important to interview the purchaser so that you can determine precisely what they want so that they will be pleased when they receive your product. Your referral and repeat business depends so much on pleasing the customer when they receive and then taste your product. They will be glad to tell their friends and associates about your baking if they are pleased.
Daily Routine for your Business
Review orders and inventory of supplies.
Inspect and clean all equipment thoroughly.
Purchase supplies and ensure that basic inventory is adequate.
Distribute some marketing flyers and business cards to potential clients.
Prepare and deliver orders.
Sources of Business
Some Suggested Markets for your business:
There are several sources of business for this enterprise:
- Wedding Planners
- Party Planners
- Food Caterers
You will be able to access these markets by using business cards and flyers, possibly a web page. As your business grows you will perhaps want to make a large website promoting several kinds of baking. Initially, personal visits and business cards will suffice to get you started. As long as your product is what the customer wants and the price is fair, you will start to get repeat business and referrals. You may find that a local bakery will want to add your special creations to their counter display.
Equipment and Other Items Needed
These are essential to your business and well worth the time and energy required to complete them.
- Business Plan
- Marketing Plan
- Bookkeeping System
- Appropriate Licensing
- Tax Department Licensing.
- Flyers and Business Cards
Specific to this business:
Sources of Financing
It may well be that your small business is going to need more financial resources than you have at this time and that you are going to require outside financing. You also may want to lease equipment or to factor your accounts receivable. You may want to learn about small business loans or you may wish to find suitable business credit cards.