We'll be sharing tips ranging from the requirements, to tools and equipment and even effective marketing strategies that will guarantee you success.
Why Should You Start Cake Making Business?
Cake making is a lucrative business to venture into because of the number of people that like and eat cakes on a regular basis. Cakes are one of the most consumed snacks in Nigeria, and many other parts of the world.Let's run through some reason why you should start cake making business now:
• High demand
I love cakes, in fact, they're my favourite snacks. There are thousands of Nigerians like me, from the younger ones to the adults, you'll won't have any issues getting customers.One of the reasons many people go for cakes over other snacks is because of the various flavours available. Cakes can also be eaten at any times of the day, and can be stored for future consumption. If kept in the fridge, cake with buttercream or ganache topping can last for up to 3 or 4 days. This however varies, as some will only be good if consumed withing 2 days.
• Cakes are affordable
From the big birthday/wedding cakes, to the small cup cakes that are sold in shops, one would always get something affordable to his/her belle.While the wedding cakes can cost more than ₦5,000, depending on the cake maker and couple, one can still be able to buy cakes for as low as ₦50 in shops. So, the type of cakes you make will determine your target customers.
• Cakes are used in various occasions
The different events like birthdays, weddings and anniversaries have led to an increase in the demand of cakes.
• Cake business is not season dependent
Cake making is one of the businesses that are not restricted to any particular period of time. While you might notice an increase in sales during festive periods, cakes can be eaten at all times.So if you need a business that will be running all through the year, you might consider venturing into cake making and decoration business.
Requirements for starting a cake decoration business in Nigeria
One good fact about the cake making business is that you can start baking and selling them from your home, while keeping your regular job. Your colleagues can be your target market, or your course mates if you're still in the higher institution.Below are some of the basic requirements for starting a cake making/decoration business in Nigeria:
• Get the basic training
If you really want to make a living from cake making, then you need to take business serious by passing through the necessary training. You know cake making and decoration go hand in hand, your cakes can taste very nice, but with a poor decoration, your customers won't have a reason to return back to you.In some cases, customers might even prefer a creative decoration to a good taste, because they can always find an alternative for their guests.
There are so many catering schools in Nigeria that you can enrol into for the basic tutorials. You can also expand your knowledge by taking online courses.
While getting a cake decoration certification can also boost your personal brand, the only way to really get good is by practising.
• Find and develop a niche
There are different types of cake niches like the wedding cakes, birthday cakes, cupcakes and more. While you might be able to create all, building a brand around one niche will help you stand out.From your brand's name to the services you offer should stand out from the competitors around. Your customers appreciate quality and won't bother paying extra just to get the best.
• Get a good location
I earlier stated that you can start from home, but in the later run, getting a good place will help in giving you more exposure. Your choice location should be easily accessible and sited in a busy area, probably close to your target market like churches and event centres.• Find suppliers
You will be needing regular supplies of flour, sugar, baking powder, preservative and more. I'll advise that you get a regular suppliers to ensure the smooth running of your business.Having a regular supplier will also make him/her give you priority over other customers, while giving you the opportunity to access good on credit.
• Register your business
If you're really serious about your cake business, you can consider making it legal by registering your business name with the Corporate Affairs Commission. Building your brand and making it a household name doesn't make you the owner of the name, nor confers legal ownership of the business name to you.In the later run, someone can create a similar business with your name, file a case in the court and stop you from using your brand name over copyright infringements.
Registering your business has so many advantages including access to loans, ability to get your Tax Identification Number (TIN), corporate account with any commercial Nigerian bank among others.
• Get an online presence
Every entrepreneur needs customers and should make use of any possible means of achieving that. While setting up your shop, you should also consider taking your business online for a better exposure.You can get a good website for as low as ₦25,000 (click here to find to how), then with the power of the search engines and social media, reach a wider audience that might might not have heard about you.
Your website will be like a portfolio for sampling your products. Your address, contact and other basic information will also be their. One good thing about having a website is that your customers can book a cake, pay for it and get it delivered without even having to meet you one on one.
Also, having a business website will make your brand appear bigger than it is, and more trusted. You can check out other benefits of taking your business online.
• Hire workers
As your business grow, you'll be needing more hands to assist you in it. Try hiring more workers, you can either hire and train them yourself or get trained individuals from an established catering institute.One of the things you should put into consideration while hiring is that the more passionate your employee is about your business, the more s/he put into your business growth. Try going for someone that will handle the business like his or her own, someone that really wants it to grow and would fight tooth and nail to achieve that.
What more?
Once you're business is up and running, the next important thing to do is getting into people's minds. You can create fliers and business cards, while advertising it through word of mouth. You can also check out our post on how to advertise your products free in Nigeria.As your profit starts coming in, set up some percentage aside for promoting your business to potential clients. There are so many different types of online and offline adverts that you can leverage for a wider reach.
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