So if you’re thinking about buying a bakery, you may also be wondering what does it take? Well to start with it would help if you’re a morning person. Bakers are up early in the morning, sometimes before the sun, cooking away. You would need to be passionate about cooking and making delicious treats, to become that ‘best bakery in town’. Creativity is important in coming up with new ideas – new breads, cakes, pies to entice customers into your store. You mornings will be busy with all the baking, customers coming in and out the store, and you normally finish the day around 3pm.
What to assess when buying a bakery? There are quite a few franchises for sale on the market such as Bakers Delight and Brumby’s which might be the ideal option for new business owner looking to make a start and wanting some guidance from an established brand. If you are looking to buy an already established bakery business for sale here are a few items, you should consider:
- How busy is the bakery? Be sure to ‘stake out’ the shop and watch how many customers are coming and going. It takes a lot of $3 loaves of bread to sell before you start making some money.
- Review the bakery’s profits over the last few years.
- Have a look at what they are selling? Could you expand upon this? Are there too many items which affect cooking times and quality? Do they offer ‘extras’ such as coffee and specialty cakes for birthdays.
- Is their ample seating? Does it have charm? If your bakery is in a prime tourist location, it’s important it has ‘charm’ so people are enticed to come in then buy some food and coffee. Bakery’s have been around for hundreds of years, they have an old-world charm, that is important to harness.
- Is the equipment all in working order? Do all the ovens, mixers, fridges work? When were they last serviced? How old are they?
If you are selling your bakery business, it’s important to have it presentable. Make sure that it is clean and the potential buyers have access to all the business, including the cooking facilities and preparation tables. Be sure to have your finances in order and books available for the potential buyer to review.