With 2020 being a unique year, people are showing more interest in entrepreneurship. Until now, jobs were considered as a trustable/ stable source of income, but 2020 proved it wrong. A lot of people lost their jobs and the ones that didn’t, surely have a pay cut or some other form of loss. People have started investing in multiple ventures at the same time. The idea of not depending on just one source of income is being widely accepted. That means that people are thinking of earring through multiple sources at the same time. So, if one fails or slows down, other sources are there to back it up. So you could have one full-time job, have a part-time business, and take freelance projects on the side.
Starting a small side gig or a home-grown business is on everyone’s mind. People are looking into various business ventures like deserts, cupcakes, art, handmade products, handicraft articles, catering services, and so on. While this is a great idea, you need to be aware of the challenges that come with it. Today we are going to talk about cupcake business in specific, but some of these tips might be useful for you in any business venture. These things will help you figure out if Cupcake Business is right for you. Some of these things can help you set your foot as a business owner and prepare you for your new role.
5 Factors to consider:
Think about what makes you passionate about your business. What is it that makes you pick this business out of all the other options? The answer to these questions is going to make you want to continue this venture persistently. Your motivation will be the thing that boosts you in your journey. Do not be delusional; every new venture goes through ups and downs. The passion and motivation are what keeps you going in those times. The willingness to strive is going to help you in your lows. If you are passionate, you will not lose purpose. Find what you are passionate about and do it till you become the best in it.
What are the resources that you have to start your business? It does not mean just money. Resources include money, place, knowledge, and time. All of these things contribute to your establishment. Money is an obvious requirement, but no need to have lots of it. You don’t need to be loaded. You need to know how much you have and how efficiently you can use it. The adequate use of your resources is much more important than its abundance. You need to find a place where you are comfortable. It doesn’t have to be a big shop, you might be comfortable working in your home kitchen, and that is perfectly alright. Your knowledge of baking is going to take you a long way; keep growing and updating your knowledge. That also includes trying out new things and being open to unique ideas. Time is something that matters a lot. You might want a full-time business or a part-time one. In whichever case, you need to decide how much daily/ regular time you can dedicate to the cupcake business. It can be less or more, but you have to give undivided attention at that time.
- Quality and taste
The cupcake business is something that involves people loving the product. They will buy from you again and again only if they love the experience. With every cupcake you make you want to leave a smile on their faces. They should feel satisfied and willing to come again. You will have to show consistency in your quality and taste. Along with that, the consumers appreciate when their feedback is valued. You should consider their suggestions; that will only help you grow your business along with forming a good bond with your consumers.
Presentation of your cupcakes is as important as the cupcake themselves. Cupcake is a product that is usually associated with a happy occasion. It is consumed in moments of happiness, or to turn a sad day into a pleasant one. In both cases, the experience has to be an endearing one. As a person making cupcakes, you want the consumer to have a heart-warming experience. You want to make them happy even while unwrapping your product. Packaging, wrapping, decoration, plating, color combination, and messaging play an important role. The presentation of your cupcakes is going to make the first impression. It must be pleasant.
You can serve the audience better if you know them well. You need to know who your customers are. Who is consuming your product? Their demographic will help you analyse their likes and dislikes. You should know if the majority of your consumers are youngsters, elders, vegans, experimenters, or classics. This will help you in figuring out what kind of products your majority audience likes. Do they prefer it classy or healthy or unique or simplistic? Without understanding what they are looking for you can’t cater to them. At the same time, it is also essential to form a bond with them. You might not be able to contact every single one of them personally, but they should feel special. They should have an experience that they will remember until the next time.
These are some things that will help you get started with your cupcake business. You can follow the ones that you think apply to you and make your own rules. Develop your version of dos and don’ts that work for you. But always remember to take feedback. That is the best way to grow. The customer’s bonding with you will make them come back to you the next time they are craving some cupcakes. Go to lots of flea markets. Don’t be shy about marketing your product. Don’t apologize for prioritizing your work. Go and capture the market with a big swing. And you will be surprised to find out, they are more than ready to see what you’ve got. The world is ready for you, are you ready?