Starting your own cake decorating business
With the economic trends that face us currently many people are turning tocreative means of insuring their financial stability. One way people aredoing this is by utilising their talents which they once used as hobbies to now supplement their incomes. Many people are finding surprising business success by utilising this type of method, even to the point of starting their own business ventures.How many times have you baked and decorated cakes for special eventssimply because you enjoyed the challenge, only to later have the people in attendance to plead with you to make them such creations for the special events in their lives? This type of talent is something that people prize very highly and if you are lucky enough to possess it then you have the opportunity to use it for your financial security and even the possibility of owning your own business. Many people believe that in order to do this type of work you have to invest a small fortune in your own shop and special equipment, this is not necessarily true. Consider the cakes you produced with the equipment you presently have and you may not need much more. While you may have a long term goal to own your own shop that does not mean that you cannot begin small and work your way to your goal.
Consider the benefit of starting on a small scale from your home; the comfort of your surroundings and no upkeep or start up costs of a shop.This type of plan helps to realise a higher profit return on your product, although the long term goal might not make this a feasible choice for an extended period of time, it can in fact help give your newborn business a big leg up towards the path of success.
For many small businesses starting out you will need a marketing plan which will give you a plan as to who your target audience is, how you are going to reach them and how you are going to grow the business. One of the best ways to do this is by advertising, such as taking part in local events which will give the public a chance to get to know you and the product you are offering, as well as local listings in papers and newsagents as well as some inexpensive flyers and business cards which can be accomplished for a nominal cost if you utilise your computer and printer.
You may also need to invest in some more tools and equipment to make your work easier and faster to perform, as well as give a wider range of products you can achieve, but where possible try not to buy these until you need to, instead give examples of other work you have done and how it can be adapted. For example if you have already made a 'number three' cake you do not need to buy all the other numbers, simply say you can have the same design on any number.
Other areas and support you may need to consider are hiring a web developer to set up your website and maintain it if you are not web savvy. If you are competent with a computer then you can opt to buy a website template which you can customise and update and manage yourself. Lastly, you may need an accountant or some advice on the business and any taxesyou should pay.
While the thought may cross your mind that something as simple as a hobby in cake decorating couldn’t possibly turn a profit, keep in mind that people still want unique and custom services done by individuals. This trend can turn your small hobby into a popular, thriving business.