Business Ideas Is Bakery Lucrative Business

[Moni]

Have you think of opening bakery shop? Can bakery shop bring good source of income aside you business? Will people buy from your location?

Well let me briefly define what bakery is.
Bakery is an establishment where flour base foods are cooked, usually in an ovens. Many people only base on bakery business for living while other people do bakery as part of their business.

In my area, there is one man who has been a famous and popular because of his bakeries. In fact this man is a well known person and he is so rich but all he does is only a bakery. This means there is a lot of money in bakery business only if you are good at it. But before you can open a bakery shop, there are son factors to consider which are location.

The location is the most important thing to consider before you can establish bakery shop. You also need people who will work with.

So will this business bring you a good source of income?

 

[kayode10]

Bakery business is still lucrative and it will continue to be as long as humanity still in existence. Bakery business falls under food which happens to be one of the three basic needs of life. People will forever demand for bakery products like bread, biscuit, cookies etc.

Just of recent, I was at one place and a young man came the other time to join our discussion at that place. I got to know that he is a bakery owner in my locality and he is rich. He made it known in our discussion that day that he has built three different types of houses for himself and his wives.

You only need to arm yourself with good marketing strategy in order to stand out among the other bakeries in your city. Packaging is very important when it comes to bakery products.

You need to give product that comes out of your bakery and attractive packaging. People will always choose and try to bakery products in the supermarket over the on attractive ones.

Another thing is that you must be creative. You should be able to produce different cookies and bread for the people to enjoy.

Your distribution channel must be strong and have a good marketing strategy in order to make consistent profit with your bakery business.

 

[moonchild]

Yes, bakery is a lucrative venture because most people like flour delicacies, like bread, cakes, meat pie and doughnut.

Bakery business is one of the Evergreen niche available because there's always demand for it especially bread, in my country, bread is a constant to most foods meaning it can eaten with any kind of food from beans to noodles(crazy right😂) to anything you can think of, so a lot of bakeries exist that serve this demand.

During ceremonies also there's a high demand of flour products like cakes, cupcakes and wedding cake and most times it's served as snacks to attendees.

Starting a bakery business is not much of a big deal because you can start by making pastries alone as you scale a lot of females graduate are involved in this sort of small business while those with bigger capital build up a full scale bakery that produces larger quantity of pastries.

To build a full scale bakery requires a lot of money because you need to buy new inventory like ovens and ingredients and also hire other people and also have a means of transportation to take it to the end users.

Even though there's a lot of people that are into this business you can still carve a niche for yourself.

 

[Alexandoy]

When I was young the bakery business looked ideal to my eyes because the owner of the bakery in our neighborhood said that everything that is cooked has a purpose. When the bread is not sold it can be recycled as crumbs for some pastries and other type of bread. For the big volume of unsold bread it can be sold to the fish pond for food of the fish. However, that idea of a concept is not accurate at all. In any kind of business what you need is the demand and also the constant supply. When you can have a margin between the cost of the supply vis-a-vis the cost of the product then that is the profit that you earn. My point is that any kind of business must have that formula of the margin between the costs (supply and product) otherwise you cannot say that the business is profitable.

 

[joelryan175]

No doubt, bakery or baking is a lucrative business. Bakery products like bread, biscuits, and cakes are always in demand hence a person who starts this business will never be at loss. Moreover you profit will be more if you provide (bake) more products in your bakery.

 

[TOZZIBLINKZ]

Of course owning a bakery shop is profitable , by definition a bakery is a place where bread and other flour related confectioneries are being manufactured or produce . Sometimes bakery choose to specialise on one confectionery mostly bread , but yet I believe for a bakery to diversify is actually a good idea . what I mean by this is that a bedroom should I specialise in producing or manufacturing only one item but rather why producing bread it should also produce flour related confectioneries like cakes , chin chin , baked fries , meat pies , buns , doughnuts , cup cakes , sandwich , burgers etc . In this way they will be able to reach potential customers all around the neighborhood or environment with different taste .

In Africa to be precise Nigeria , the owner of a bakery is actually a rampant business establishments , but the issue is that raw materials needed to bake this confectioneries are too costly thereby increasing the price of these products manufactured by the bakeries . To be more elaborate a bag of flour in Nigeria cost up to 38,000 naira , and according to some burger is a bag of flour could only produced 2 to 25 size of bread . So with this analysis . Cost of production for bakeries today in Nigeria is absolutely is expensive .

 

[Kingsley]

Bakery is still doing fine, bakery business has been with us for a very long time and it has always been doing so well and up till this time it is still one of the best type of business any one can venture into. The key to been successful in the business is been very diligent and consistent. Customers will never be happy when they come around and discover they are unable to get the product. When we disappoint our customer, this will discourage them to come back to us next time and there by affecting our sales level negatively. Then another thing we must try as much as possible to make our selling point very neat.

We should also maintain a very high level of hygiene in the baking environment as this will go a long way in telling our customers how safe the product they are buying is as touching their health.

We must also try as much as possible to make a means of transportation available to market the products to where they are heavily needed, mostly to environments that are densely populated.

Again we should ensure we use the right ingredients in the right proportions to maintain a good standard.