How Much Does it Cost to Open a Bakery Shop?
Baking fudgy cakes and delighting Chocó-molten lava puddings might be a rare talent but is really not enough to think about opening your own bakery store. There are a lot of other things which should be considered important when you really want to turn your passion into your business.
Right from setting a plush infrastructure to baking heavenly good cookies, every section demands utmost perfection, because only then you’ll be called as a proud entrepreneur running a successful business.
Try to recall, when you thought of opening up your own bakery shop, what was the first thing that came into your mind, commercial bakery equipment or an easily recognized store location? Well, before everything, ample amount of finance is what you need.
In order to give you a better idea about how much money you must have with you, I’ve got you some store opening aspects along with their approximately amount. Rest, just by reading out these pointers you can’t come up with an exact amount required, but yes you can roughly know how much you should keep with you. The amount may vary only on the perspective of location, price, demand, land price & country economy.
Take a look-
- Apply for legal papers – If you’re planning to open a bakery outlet in the U.S.A. or U.K. then you may need- Australian business number, Bakery/ kitchen permit and an authorized license by Health & Food Department of the concerned country or state. For this, you may need to spare at least $ USA 15,300 and $AUD 17,200.
- Commercial store – If you’re capable enough to buy your own store then go for it, otherwise getting a store on the lease can be a good option waiting for you. Now coming up with an exact amount for a local bakery store is a bit hard. So roughly you can keep $ 200,000 with you for this purpose.
- Property insurance – Of course, once you own a store the next major step is to secure it from any misery or natural hazard with the right insurance plan. Let’s say $30,400 will be more sufficient.
- Water & electricity deposits – Getting basic necessities like- gas, water or electricity connection may demand $6,500 approximately. Make sure to keep a receipt or evidence of the commencement of all the connections.
- Infrastructure & equipment – Buying & installing commercial kitchen equipment like- dough roller, dough mixers or oven are going to cost you a bit high as this is what is going to help you produce the best for your customers. Do not overdo the interiors, keep it simple & try not to spend more than $100,000 on the interiors & Alemlube equipment.
- Security purposes (optional) – Now this one is optional. It’s completely up to you whether you want to install any CCTV camera inside or outside your store or not. Installing such safety equipment may cost you around $5,000.
- Miscellaneous expenses – Keeping an ample amount with you always for rainy days will showcase you as a great entrepreneur. So, save & be wise.
- Salaries – You can run the whole bakery store all alone, of course. Initially, hire few staff members & gradually increase the number if you find, you’re going well. For salaries, keep at least $40,000 with you.
The pre-requisites mentioned above are necessary for opening a bakery shop but the price may vary according to the price & location. To find out the exact price, you may need to do a little bit of legwork. But make sure to undergo a legal procedure to ensure a registered store.