Sunday, October 19, 2003
The copy of The Baker's Trade by Zachary Schat came in yesterday. We've been busy reading all about how he put together his bakery.
The book was written in the late 60's, so finances and prices are wa-a-a-ay off, but other than that, it doesn't look as if much has changed.
Actually, reading his book has renewed our hopes that our endeavors aren't as insane as we'd first thought.
And driving around town yesterday, we found 6 really great locations currently for rent or sale. One used to be a florist shop and has gorgeous windows on a high traffic low rent district (they are working hoard to accommodate new business because it's a "depressed area - but it's 5 minutes from the state capitol and downtown, it's 3 minutes from a wealthy private college [in cars, it's 5 minutes to walk but nobody walks here if they can avoid it - I've seen people go into a strip mall shop at one end and shop, then come out, get in their car and drive to the other end to shop there. Insane, expecially with gas prices so high, but there you go.]). The residential area near 4 of them is historical and they spend a lot on their lifestyle. Fresh baked goods are a part of that lifestyle, and we will have some of the best baked goods they've ever tasted. Ethnic restaurants, florists, and small pricey boutiques do well in the area, so a bakery would fit right in.
Of course, we're still a ways from actually committing to a place. We're finishing up with market research, traffic flow studies, and additional education in marketing and managing. We're slowly contacting people we think would help in the business.
By next fall, we'll be ready to start interviewing CPAs and looking for additional financing. My house alone won't be enough to open the bakery.
And reading the book has let us know that we can hire fewer people to start with and work our way up to our ideal. Banks will like that we have 5 and 10 year plans for growth.