Starting a Cookie Business
Find out what you need to do before you set off and open a cookie business. Get an overview of what the business entails. Understand the reasons why theses steps are essential.
The cookie business is perfect for baking enthusiasts.
The good thing about this business is you can start from the comfort of your own kitchen provided you meet the guidelines set by the FDA and other legal requirements mandated by your locality.
Another plus factor is that the cookie business is quite profitable and its success rate is relatively high. The reason for this is most of us have a sweet tooth and once in a while we like to indulge our cravings and what better way to do this than by sinking our teeth into a delectable cookie or two?
If you are planning to start your own cookie business, you may want to read this list of some helpful tips that might help you as you embark on your cookie business.
Set your goals. Ask yourself, what would you like your company to achieve? It’s alright to dream big but see to it that your goals are attainable and realistic. Also, it is equally important to set short-term goals and long-term goals at the same time.
Do your research. Find out all you can about the trends in the industry. Know your competition, in particular, their strengths and weaknesses. This will help you identify your competitive advantage. In other words, this will help you figure out what you can give your customers that they’re not getting from the other businesses. And keep from emulating the competition’s strategy. Instead, make the most of your own advantage points.
Define your target market. Cookies appeal to most everyone. Young and old, rich or poor, male or female, everybody hankers for a cookie treat. Whom do you intend to sell your cookies to—children, teens, moms? You should figure this out early on since your marketing thrust would revolve around your target market.
Select a location. When choosing a place for your kiosk or store, see to it that there’s a high volume of foot traffic in that area. The more traffic, the greater your customer base. The mall is ideal if not for the high rental cost. There are alternatives, like near a school, a park, or a sports facility and so on.
Devise a Marketing Plan. Your customers are the lifeblood of your business. Test your creativity and think of ways to you can attract them while working within the limit of your budget of course. For a small start-up business, handing out flyers is an easy and inexpensive option. You may also give out free cookies samples in and around your kiosk or shop location.
Allocate your funds. Don’t go spending left and right without cause especially when your cookie business is not stable yet. Your funds must be properly allocated. Before you purchase or procure anything, think hard if that purchase is really essential to your business or if you can live without it. And if you’re investing in something substantial like equipment and such, look for something that is of good quality. Lastly, in pricing your cookies make sure you cover both the production expense and mark-up for profit.
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