Month: November 2017

Things You Need To Spend Money On In Order To Succeed In Your Cake Business

 

You may be right in thinking that you may need a lot of capital to start a business. If you are just starting a business, you can get overwhelmed or confused not knowing how much you need or what you need to buy. Or maybe you are looking for a business where you do not have to spend any money at all.

I may be wrong but I do not know of any business where you do not have to spend a little of your money to get started.

I remember when I started my cake business. I had no idea what I needed to spend my money to get my business off the ground.  It was quite confusing.

No matter what, you will have to spend money at some point in your cake business journey and below are the things you should spend your money on for your cake business to succeed.

A good website

Having an online presence for your cake business is vital for your cake business. Because it will ensure that your business will reach a lot more people. Your website does not have to be very complex, it can just be a single page with a gallery of your cakes and details on how to contact you. You can easily create a website by yourself using platforms such as Wix or WordPress.

 

Financial advice and/or support.

For me I can admit to you that I am not great with numbers, so accounting is my weakness. So I had to enlist the help of a  friend  to teach me the necessary accounting and bookkeeping aspects for my business. You may have to spend money hiring someone to do your books like maybe once a  month or to train you so you can later do it yourself.

 

Ongoing Education.

We all need extra skills no matter how good you are at cake decorating. But here I am talking about investing in business courses, webinars, e-books, etc. You can be the best baker in town but to succeed in the cake industry you need business education. That is why I am so passionate about teaching cake business owners how to run a profitable cake business.

 

zz6

Staff.

Eventually you will get so big or get so many orders that you may not be able to cope by yourself and will need extra help. At this time you will need to invest money in hiring staff and also training those staff .

 

Equipment.

We as bakers know that we need a lot of equipment in our industry. Yes of course you should have equipment. But just don’t go buying everything under the sun.

 

zz7.jpg

Marketing  

As said before, You might make the BEST cakes but if nobody knows about your business you won’t make any money.. you should think on what marketing strategy you will employ to advertise you cakes. It could be Facebook Ads, or ads in a website or magazine or you could sponsor events. The list is endless.

 

Legal and other fees

 you need to start your business on the right foot. So you will need to register your business name with the Corporate Affairs Commission. This means that your business name is legally protected and you can now operate a corporate account and also registering for taxes at the Federal Inland Revenue Service.

 

zz8.jpg

 

Business Cards and Fliers

For our cake business to be a success you need to market market markrt. And one way is to invest in high quality business cards and fliers so that when you are out and about or at networking events, you can distribute your business cards to the general public.

 

Would love to hear about what have you spent a lot of money on your cake business. Just comment below.

 

cake business pic

 

Start an Online Course           See our Free Resource Library          Read our Blog

                Register for a Mini Course                 Start your Cake Business Today

 


 

me16

About Me:

Hello, my name is Rotimicakelady and I am a cake business coach that teaches cake business owners how to grow and have a profitable cake business so that they have a constant stream of customers buying their delicious treats.

I have been running my own successful home based cake business for some years now. I have also been teaching bakers through my online courses who are struggling with low sales, with strategies on how to market, and price their cakes for profit.

In addition I am also run a Facebook Group where I coach, offer support and help bakers in their businesses.

I have helped over 50 bakers through my online course A comprehensive guide to starting your cake business in 30 days’ with much needed information on how to start a cake business in Nigeria. I also teach close to 4000 cake enthusiasts through my Facebook Group how to run a money making cake business.

I have been featured in ‘Naija Top Baker’ magazine, one of Nigeria’s foremost cake magazines and also been a Guest Speaker at the Bakery World Convention.

If you are struggling with getting customers for their cakes, I can help you solve this problem by showing you how to market, sell, price, plan, structure and brand your business so you are constantly selling to the right people who want your cakes

5 Things To Do To Stop Your Customers Going To Your Competitors

Whether you’re a big time cake seller or a small home based baker, you know how painful it is to have a customer leave you and go another baker or your competition.

It hurts. It makes you feel you are not good enough. You start questioning your abilities and wonder what the other baker has or is doing better than you.

Competition is not nice, especially when you’re the one losing. But that’s business life. When you are running a business, you’ve got to face the fact that you are going to face competition, somewhere down the line of your business journey.

So how do you deal with the competition?

There are plenty things you can do but the best approach, however, is to do all you can to keep your existing customers. Your customers are essential to your business because no customers= no business.

Luckily, there ways to prevent your customers from going to your competition or leaving you.

These tips you are going to learn will help to keep your customers loyal to our business so that you will have a customer for life.

  1. Know your customer

Have a thorough knowledge of your customer. You should know your customer — even if it is just their email address and birthday.

You may ask why does it matter?

Having a thorough knowledge of your customers such as their demographic, occupation, age, gender, motivation, hobbies, will help you know how to attract a customer and serve them better.

If a customer decides to order a cake from somewhere else. You should try and find out why they left. You can send them a feedback form and structure your questions to find out what are their motivating factors for ordering a cake

Understanding your customer better will help you hold on to them.

cake 8

  1. Know your competition

Know who are you dealing with. Do you know where your leaving customers are going?

The first thing you should do is to discover which of your competitors the customer prefers, and they prefers them. You can simple ask them or try doing some undercover work on the competition.

Find out what types of cakes they are selling, do they have a website, how much are their cakes, how are their designs, what additional services do they offer their customers.

A simple fact could be that the competition makes it simpler for people to order or their prices are cheaper. With this information you can now look at your business and see where you can make changes.

So do a little spying of your competition. You may be surprised at what you will find out.

cake 7

  1. Get your USP Right

What is your unique selling proposition or USP.

A USP is the reason why your baked  products are different from the rest. What makes your customers prefer you more than the other bakers.

Your USP is the reason why your customers decide to order from you and why they decide to remain with you.

Think about something in your business that makes it different from the rest. Your business is unique; it has its own personality. So think about what makes you distinct and special. Do you make awesome cupcakes or your cakes are fat free. Take a few moments and think on this.

cake 6

  1. Try Incentives to make your customers spend more.

One way to keep your customers is by upselling.

Here’s how it works.

A customer calls you to make an order. Great, but they only ordered 6 cupcakes, which is like 3k. Not much of a sale right?

Your next goal? Get them to spend more money.

You could tell them that if they spend a little bit more money they can get a dozen or more cupcakes and you will throw in free delivery.

Why? When a customer spends more money, they value the product more if they spend additional money on it. So it will make them harder to leave

The more your customer pays and the longer they stay, the more likely they are to spend more.

By encouraging upsells, you’ll prevent your customers from leaving.

cake 5

  1. Reward your customers for doing something for you.

Reward your customers in some way. Give them a freebie, a gift, a discount, voucher Make it valuable and desirable.

But before you give them something for free, make sure they do something for you. Something like what? Make them promote your business. Tell them that if they refer your cakes to someone and that person makes an order, they will get a free cake or cupcakes for their next birthday.

If a customers gets something from you for free, they are most likely to be singing our praises to other people and think of you when they want a cake.

This practice works, because it’s built on reciprocity. Reciprocity is simply just a mutual exchange. It means giving something to someone thereby motivating them to return the favour.

In Summary

In summary, knowing your customers and your competition is the way to get started, them with that information, you can hone down on your USP, try to make your customers spend more and then give then freebies for dong something for you.

In the end you could have a customer for life.


cake business pic

 

Start an Online Course           See our Free Resource Library          Read our Blog

                Register for a Mini Course                 Start your Cake Business Today

 


 

me16

About Me:

Hello, my name is Rotimicakelady and I am a cake business coach that teaches cake business owners how to grow and have a profitable cake business so that they have a constant stream of customers buying their delicious treats.

I have been running my own successful home based cake business for some years now. I have also been teaching bakers through my online courses who are struggling with low sales, with strategies on how to market, and price their cakes for profit.

In addition I am also run a Facebook Group where I coach, offer support and help bakers in their businesses.

I have helped over 50 bakers through my online course A comprehensive guide to starting your cake business in 30 days’ with much needed information on how to start a cake business in Nigeria. I also teach close to 4000 cake enthusiasts through my Facebook Group how to run a money making cake business.

I have been featured in ‘Naija Top Baker’ magazine, one of Nigeria’s foremost cake magazines and also been a Guest Speaker at the Bakery World Convention.

If you are struggling with getting customers for their cakes, I can help you solve this problem by showing you how to market, sell, price, plan, structure and brand your business so you are constantly selling to the right people who want your cakes

5 Ways to Ensure You Never Run Out Of Customers for Your Cake Business

Your Customer’s satisfaction should be at the top of your list of priorities when running your cake business. Of course, satisfying our customers begins with the incredible cakes that you offer them.

It is very important that you treat your best customers good which is a great way to increase your customer base. This is because people talk and word spreads fast. When customers are happy, they will tell their friends and family about your business.

The same thing applies for when a business makes customers unhappy. The bad reviews even spread faster.

So how can you ensure you never run out of customers? Well it is by making sure you always make your customers happy?

Here are 5 ways:

  1. Communicate to your customers

Whenever something new happens with your business, tell them. If you have a new product line, tell them.  It is a good idea to send your regular customers Newsletter emails. Your email list is a critical tool for maintaining and building relationships with your current customers and keeping in touch with them.

  1. Never undervalue the power of freebies.

Who doesn’t enjoy getting something for free? It’s important to show your customers that you are grateful for their support, especially when it comes to your loyal customers. Offering some freebies and discounts can go a long way in ensuring our customers keep coming back. One of the best ways you can do that is to offer some type of reward for their loyalty.

You can also do a promotion where you tell your customers to leave positive stories about your business and in return they will get some kind of discount and a freebie. If your customers are openly engaging with your business or brand on a regular basis, you get free publicity.

Customers truly appreciate it when you show that you appreciate them! Christmas is always a good time to show appreciation to your customers.

Happy Customers = Happy Business.

ww104

  1. Be accessible.

The speed at which you respond to your customers will determine if your customers will determine whether they were satisfied with your business or not.

Be sure to deliver what you set out to deliver. People hate waiting. If you tell your customers you will respond to give them a quote in 15 mins, make sure you keep to time. Make a policy to respond to any customers question or comment whether it is by phone, emails, or any of your social media accounts within 30mins or less.

Helping your customers solve any problem they have in a well-timed manner will go a long way in helping your business.

Also make sure you meet deadlines and keep your promises.

No one likes waiting around for cakes they have ordered. This is where communication plays a big role. If you can’t deliver on time, let your customer know in good time.

  1. Offer various payment options.

Don’t force your customers to only pay by cash. Nowadays not everyone carries cash. It’s important that you provide your customers with the option to pay with either debit cards (so maybe you should invest in a POS machine), or cheque or bank transfer. You can even look at accepting payments through your website if you have one.

 

ww105

  1. Create bonds with your customers

Your customers don’t have to be your best friends. Get to know your customers by their names as well as some details about their lives (eg. birthdays, anniversaries, children’s birthdays), will go a long way in pleasing your customers.

So these are a few way you can ensure you don;t run out of customers. By finding new inventive and creative ways to keep your customers happy will ensure you have a customer for life which is great for any business.

If you can think of more ways, would love to hear them. Just comment below.

 

cake business pic

 

Start an Online Course           See our Free Resource Library          Read our Blog

                Register for a Mini Course                 Start your Cake Business Today

 


 

me16

About Me:

Hello, my name is Rotimicakelady and I am a cake business coach that teaches cake business owners how to grow and have a profitable cake business so that they have a constant stream of customers buying their delicious treats.

I have been running my own successful home based cake business for some years now. I have also been teaching bakers through my online courses who are struggling with low sales, with strategies on how to market, and price their cakes for profit.

In addition I am also run a Facebook Group where I coach, offer support and help bakers in their businesses.

I have helped over 50 bakers through my online course A comprehensive guide to starting your cake business in 30 days’ with much needed information on how to start a cake business in Nigeria. I also teach close to 4000 cake enthusiasts through my Facebook Group how to run a money making cake business.

I have been featured in ‘Naija Top Baker’ magazine, one of Nigeria’s foremost cake magazines and also been a Guest Speaker at the Bakery World Convention.

If you are struggling with getting customers for their cakes, I can help you solve this problem by showing you how to market, sell, price, plan, structure and brand your business so you are constantly selling to the right people who want your cakes