Are you looking to open up your own bakery in Australia? Are you keen to start off on the right foot along your journey to business success? Then keep reading to learn the four steps you should follow to greatly increase your chances of finding success as you start your bakery!
1. Develop your business plan
The first step to opening up your own successful bakery in Australia is to start with a business plan. Like all types of businesses, a business plan is essential to helping you prepare for the future of your business, while also working out your short term and long term goals.
Your bakery business plan should include the following:
- A list of your business goals and a realistic timeline for when you should achieve them
- A financial plan (including your budget, estimated earnings versus costs, the taxes you will need to pay)
- Your ideal steps for expansion (e.g. if you want to hire more employees versus moving to a larger location)
2. Invest in the right equipment
When starting your own bakery, you should also invest in the right equipment – specifically those that you need to make your bakery’s menu. Some pieces of equipment may be more important and integral to your business than others, so make sure that you choose the right ones.
For example, a commercial bakery oven is more often than not essential to your business – due to the practicality of it, whereas a sheeter may not be as necessary (depending on the type of menu items you are selling). As a result, it is important to research the types of equipment you need for your bakery so that you can make the most profitable choices for your business.
3. Register your business and obtain the right licenses
In Australia, you will need to register your business with the ATO (Australian Taxation Office) as well as obtain the right licenses in order to run your food business. If you are planning on running your business under a name that is not your own, you will need to register with the appropriate government organisation, such as the Australian Securities and Investments Commission (ASIC).
Likewise, when it comes to registering for a food license, businesses will need to refer to their local council or state government for the appropriate licenses they need to obtain before they can start running their bakery.
4. Choose your location
Before opening up your bakery, you will also need to decide on a location. This is an important step as you will need to decide whether or not you need an on-site location in the first place.
Nowadays due to the advances of ecommerce, not all bakeries need a physical store-front. Rather, customers can simply order their baked goods and pastries online. This may be rather effective for sole trader bakeries which are not yet able to afford the cost of a physical store location. However, for those that do have the resources to do so, it is important to find the right physical location so you can attract the most customers possible.
Be sure to follow the above steps to a T if you are looking to start a successful bakery business in Australia!