Anyone own a bakery?

Question

Tell me how this works

You have to buy a place to start your bakery

Then you got the bills to keep the electricity on and water and everything else

You have to buy fresh ingredants

And when you move in you have yo buy booths and all that kind of stuff

And labor (workers)

Then you got your personal bills outside of the bakery

How do you make money in that situation

Please explain in detail

Answer 1

Are you Trying to open a bakery and that is why you are asking these questions. First of 95% of most businesses go out of business in the first 5 years. The reason why is they didn't know what they were getting into and the didn't have enough money to support themselves why the business was growing.

If you have personal expenses of $2000 a month then you need to have at least $48,000 insaving to live off of till the business makes money. This does not count the mney for the bakery.

My first question is why a bakery, do you bake something really well. If you have a passion for business ownership I would say start working towards the goal of becoming a business owner , who owns a bakery.

If you have a passion for baking pies or cakes then my answer would be do not open a bakery. Go buy the book E Myth revisited by Michael Gerber.

This will answer many questions you have about a bakery or any business. Let me know what you think.