What kind of bakery positions are there?

Question

I am interested in opening my own bakery, but I wanted to know what kind of positions there are besides just a baker. (If anyone knows how much they typically make at a bakery that would be helpful too!)

Answer 1

You need to research your area.

A good project that I had while in college -

Research a business of interest.

Find out how many within a 10 - 25 mile area there are.

Find out the hours that they put into the business - many bakers start at 4:00 a.m. so they get up at 3:00 a.m. - and my friends started a bagel business in Ocean City, NJ - and hated it within 2 years because of the hours!!!!  YES HATED IT.

See if you can find out from franchises how much you may expect to make - for example Dunkin Donuts or starbucks - and see how much the franchise fees are and when you may expect to turn a profit.

Many businesses don't turn a profit for a few years.

Then if you are still interested, compare that business to others of that type - that may make more money.

Still interested?  Get a part-time job in that industry to start from the ground up.

For my college project:

I started looking into RED LOBSTER restaurants - but found out they were all company owned so you cannot buy a franchise, then I looked at McDonald's and Burger King.

The RESULT?    i COMPARED the business to

a mobile home park and guess what?

The mobile home park made more money for the amount of land, and you had to put in fewer hours.  You don't have to keep fixing up buildings because the "tenants" own their buildings.  You only have to maintain the land (cut grass and such), collect rents, and provide the utility hookups - which sometimes get damaged.  You must maintain a good lawyer - and get leases signed.  The lawyer usually suggests a collection company when they don't pay.

In the midwest where I went to college, they usually paid very timely because it was a nice mobile home park, managed well, and it was an inexpensive way to live and retire.

Retired folks kept the places nice and paid ontime.

BTW, I got an A for the project and it was a lifetime experience, because it gave me a way to research any business or investment.  It was fun!

GOD bless us always in all ways.

MBA-Boston Univ.

CPA-retired