The 12 main points you have to think about are –
Product - Once you have decided on your market product, practice making it and getting friends & families feedback.
Pricing – Is there profit to be made on your product? A rough estimate is to work out your ingredients costs then add a minimum of 4 times mark up to cover your time & additional costs. Does this work out at a price where you will get customers and make a profit for yourself?
Sourcing Ingredients – beware cash & carries are not always the cheapest – look out for offers at your local supermarkets and stock up whilst they are cheap.
Packaging - Find a reasonable and reliable packaging supplier – your packaging can make or break your sale so make sure it looks great but doesn’t cost the earth. Beware also of high delivery costs and minimum order quantities.
NOW YOUR ARE READY to sort out the red tape ….
Business name - Decide on a business name that clearly explains what you are offering as well as helping you stand out from other businesses.
Regulations - Contact your council – rules and regulation vary from council to council but generally baking from home is classed as low risk.
Taxation - Contact the tax office – whether you want to work part time or make a real go of it you need to register as self-employed.
Insurance - Get Insurance – there are lots of companies out there who will cover small businesses so you just need to shop around. You should also inform your home insurance & mortgage provider (or landlord).
Hygiene - Get a hygiene certificate – these can be easily achieved by taking a course or simply on line.
Marketing – there are lots of marketing options out there but my best advice would be to make a plan and start with word of mouth – start small, with professional business cards & flyers - iron out any issues and then look at the more costly advertising and promotional options.
Social Media – most social media is free and easy to use such as Facebook & Twitter so get yourself out there.
Website – these can be set up for as little as £100 however beware, you want your brand to look professional and to achieve this you may need to hire a professional. A good start up tip is to sell through other people’s websites such as www.notonthehighstreet.com but remember they take a percentage of sales so make sure this is calculated into your pricing from the start.
If this still scares you ……
Have you always wanted to run your own business, be your own boss but don't know where to start?
If you love home baking and would like to earn an income from home, working with a fun company, you should consider becoming a Homebaked Gift Company Bake Expert. If you are looking for a flexible way of working and would like to run your own rewarding business using a proven approach then think about joining the team. Request a prospectus.