Are you a home baker or the owner of a small neighbourhood bakery shop wishing to expand your bakery business? The market for bakeries in India was valued $7.22 billion in 2021. According to the IMARC group, the market is expected to be worth $ 13.3 billion by 2025, and unlike other businesses, the baking industry appears to have benefited from the Covid-19 pandemic. Are you ready to know how to grow your bakery business in India.
Now, let’s look at how you might successfully expand your bakery business in India.
1. Continue adding new menu items
At the end of the day, who doesn’t enjoy a sea salt cupcake with extra whipped cream? But that won’t be the thing that makes customers come back to your bakery.
You should stay on top of food business trends, particularly those that include baked goods. According to the season, festivals, culture, and trends, you can present and conduct tasting events for all the new dessert varieties, flavours, and other baked goods in your bakery business.
You can introduce variety through silverware, table designs, offers, and furnishings in addition to menu items (in case of a bakery shop).
2. Connect with individuals and companies
“Networking is another way to invest in your company.”
You can access opportunities through networking with the proper individuals that you might not otherwise be able to discover. Your network may provide you with information about business operations, profitability, tech tips, professional development guidance, and more.
Participate at gatherings or shows in pertinent cities. The fact that attendees at these events are constantly willing to try new items presents a fantastic chance for you to expand your target market. By providing free samples of your best-selling product, you may interact with the public.
By networking, you can establish business partnerships that will allow you to provide finger foods and your best baked goods for their gatherings. This chance might help you expand your company because numerous personnel can attest to your high-quality and appealing goods.
3. Publish A Website
According to a report, 75% of consumers choose their destination after looking at Google search results. Consider what would happen if consumers looked for your company and couldn’t find your official website. Doesn’t give off a good, trustworthy impression, does it?
In this day and age, having a website for your bakery is necessary in order to promote it online and build your brand.
Not only that, but websites for buying meals online, including zomato and swiggy, receive millions of orders each year. However, working with these platforms can also leave you with a financial hole. This provides you even more justification to create your own website so that you may accept orders without having to pay those third parties commissions.
4. Promote Your Bakery Enterprise
Nowadays, it’s challenging to compete in any industry, but it’s especially challenging in the bakery industry because there are too many big chains, independent stores, and home bakers on the market. Therefore, it becomes even more crucial to market your bakery business above and beyond the scope of conventional marketing strategies. An excellent campaign can convert a one-time buyer into a devoted patron.
5. Invest In A Reliable POS For A Bakery
To stay on top of your business operations as and when your bakery business grows, you need solid assistance and automation. Invest in a solid restaurant management system created for bakery businesses in mind.
6. Franchise Your Bakery Business.
The business model you have created for your Bakery business can be offered as a franchise opportunity, and the business will be run by other entrepreneurs under your brand name.
When to Focus on Growth?
A bakery business expansion may appear exciting, but it also means more products, more sales, and more services, as well as the need for more employees. It may also involve larger premises or extended hours. It’s important to consider whether you’re growing to increase profits or to accommodate more customers than you can handle currently.
A bakery business owner who wants to increase profits should move slowly, with care. If you expand too quickly, it is likely that profits will turn into losses. Make sure you have a solid plan for managing the business. Think about these factors before expanding your business if you already have one:
- Is the bakery industry trending upward?
- Do you have a loyal client?
- Are your customers asking you to increase your hours, products or services?
- Do you have steady profits?
- Is your business outgrowing your capacity?
The Bottom Line
It may be a good time to think about how to expand your bakery business during a time when the bakery industry has been growing. By developing a solid bakery business plan, carefully hiring your staff, and considering factors that will ensure smooth growth, your business can succeed in the industry.
You can get in touch with Sparkle★minds if you wish to franchise your bakery business. Numerous clients of Sparkle★minds have benefited from franchise assistance. Sparkle★minds has more than 20 years of experience and has assisted more than 500 clients in franchising their companies. Contact us right now!
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