How To Start A Keto/Specialist Bakery Business
If you ask any entrepreneur, starting a business comes with its fair share of challenges.
Starting a keto/specialist bakery business requires a great deal of effort, dedication and most importantly passion.
If you're willing to put in the effort to build your own business, you're going to want to follow the critical steps to creating a successful brand.
We've created a guide that covers each step of the process - from making key financial decisions, to launching and marketing your business the right way, and tips/strategies on how to grow your business effectively.
💡 Introduction To Starting A Keto/Specialist Bakery Business
Is Starting A Keto/Specialist Bakery Business Right For You?
There are many factors to consider when starting a keto/specialist bakery business.
We put together the main pros and cons for you here:
Pros of starting a keto/specialist bakery business
• Little startup costs required
The cost to start a keto/specialist bakery business costs significantly less money than most businesses, ranging anywhere from 62 to 35,923.
• Rewarding work
Starting a keto/specialist bakery business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
• High customer retention rates
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
• Pick & choose the clients you work with
Keto/Specialist Bakery Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
• Control of workload
With starting a keto/specialist bakery business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
• Gain exposure and experience
This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
• Unlimited income potential
With starting a keto/specialist bakery business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.
• Daily physical activity
Keto/Specialist Bakery Business's typically involve a much greater degree of movement than other lines of work. Most days, you will spend your day walking, running errands for your business, and performing a multitude of tasks. This can have a positive impact on energy levels and your overall health.
• You are your own boss!
With starting a keto/specialist bakery business, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!
• Local Community
One of the best parts of starting a keto/specialist bakery business is that you can develop a local following by selling your products at craft shows, farmers' markets, or even local storefront businesses! This gives you access to additional revenue streams and loyal customers.
• Predictable income stream
Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!
• Higher likelihood of getting referrals
This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.
• Face to face interaction
If you are the type of individual that thrives on human interaction, then this is the business for you! With a keto/specialist bakery business, you will be hands-on with customers and or employees every day.
• Simple business model
A keto/specialist bakery business has the advantage of a simple business model, which makes launching and building the business more seamless.
• Greater Income Potential
With this business, the sky is the limit in regards to your income potential.
• You get to do something you truly love
With starting a keto/specialist bakery business, you get to put your energy into something you are truly passionate about! You'll find yourself devoting as much time and energy as possible into the business to make it successful.
• You can decide who you work with
Gone are the days of working in a toxic work environment with employees that you may not vibe with. As a small business owner, you get to decide who you work and surround yourself with.
• Strong Demand & Relatively Recession Proof
The demand for keto/specialist bakery business is increasing year over year and the business is known to be relatively recession proof.
• High Hourly Pay Rates
On average, the hourly pay rates are high for your keto/specialist bakery business - which means quality of clients is often superior to quantity of clients.
• You establish yourself as an expert
With starting a keto/specialist bakery business, you establish yourself as an expert in your niche, which builds your credibility. In return, customers are more likely to trust you and refer you to other friends and family.
• Can build solid foundation of clients
It's unlikely you will have one-off customers as a keto/specialist bakery business. Typically, you have a solid foundation of clients that use your product and services regularly.
Cons of starting a keto/specialist bakery business
• Motivation of employees
If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
• Longer Sales Process
A keto/specialist bakery business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
• Work can be inconsistent
As a keto/specialist bakery business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
• Lack of benefits
With a keto/specialist bakery business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
As a keto/specialist bakery business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
• No safety net
Typically, as a keto/specialist bakery business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.
• Stressful work
This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments.
• Work can be repetitive
You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting!
• Time commitment
With starting a keto/specialist bakery business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.
• Be prepared to get out of your comfort zone!
Although this is exciting for some entrepreneurs, it can be a big challenge for others! You may find yourself in uncomfortable social and business situations, jumping into tasks and responsibilities you aren't familiar with, and pushing yourself as far as you can go!
• More of a challenge to run your business from home!
Running your business from the comfort of your own home is a big appeal for many entrepreneurs. With a keto/specialist bakery business, you are more likely to run your business out of your office or storefront space.
• Work is not always glamorous
With starting a keto/specialist bakery business, you may need to get your hands a little dirty. Although it may seem glamorous from the outside to start this business, the work can require a lot of physical activity and repetition.
• The job can be demanding
This is one of the major disadvantages starting a keto/specialist bakery business. It's important to understand that you may need to make yourself available on a 24/7 basis.
• High liability
Running a keto/specialist bakery business involves a lot of liability, which means the cost for insurance premiums may also be high.
• Equipment Breakdowns
Over the years, your equipment can get damaged, break down, and may need repairs which can be expensive. It's important you prepare for these expenses and try to avoid damages/wear & tear as much as possible.
• Answering Phones
The keto/specialist bakery business is still considered a traditional business, which means answering phones is a big part of the job. If you or your team miss phone calls, you could be missing out on potential revenue opportunities. If you are unable to attend to your phone throughout the day, it would be in your best interest to hire a call center or an employee dedicated to this.
• You'll spend a lot of time in the car
Many keto/specialist bakery business offer their services outside of their office or home, which means you'll be spending quite a bit of time behind the wheel. You will also need to consider traffic and delays, which can be time consuming and take each job longer than expected.
• The job can be dangerous
Your keto/specialist bakery business can have its dangerous moments, which puts you and your employees at risk. It's important to consider all liability and put processes and procedures in place that will prepare you and your team.
• More challenging to earn passive income
It can be more of a challenge to make passive income in this business. Often times, the amount of revenue you bring in is limited by the amount of time you have in the day.
- High Protein, Low Carb, Healthy, Keto Cereal (28.4K Alexa Ranking)
- Catalina Crunch (166K Alexa Ranking)
- Attention Required! (205K Alexa Ranking)
- Lightspeed POS (335K Alexa Ranking)
- TBS Marketing (527K Alexa Ranking)
- ChipMonk Baking - Revenue $90K/month
- Pastreez - Revenue $25K/month
Let's take a look at the search trends for keto/specialist bakery products over the last year:
How To Name Your Keto/Specialist Bakery Business
It's important to find a catchy name for your keto/specialist bakery business so that you can stand out in your space.
Here are some general tips to consider when naming your keto/specialist bakery business
- Avoid hard to spell names: you want something easy to remember and easy to spell for your customers
- Conduct a search to see if others in the space have the same name
- Try not to pick a name that limits growth opportunities for your business (ie. if you decide to expand into other product lines)
- As soon as you have an idea (or ideas) of a few names that you love, register the domain name(s) as soon as possible!
Why is naming your keto/specialist bakery business so important?
The name of your business will forever play a role in:
- Your customers first impression
- Your businesses identity
- The power behind the type of customer your brand attracts
- If you're memorable or not
It's important to verify that the domain name is available for your keto/specialist bakery business.
You can search domain availability here:
Find a domain starting at $0.88
powered by Namecheap
Although .com names are the most common and easiest to remember, there are other options if your .com domain name is not available. Depending on your audience, it may not matter as much as you think.
It's also important to thoroughly check if social media handles are available.
As soon as you resonate with a name (or names), secure the domain and SM handles as soon as possible to ensure they don't get taken.
Here's some inspiration for naming your keto/specialist bakery business:
- FreeCookies check availability
- The Skilled check availability
- Maternal Fatless Spot check availability
- The Huge Baked check availability
- Chip Coffeecake check availability
- Sentiment Specialist check availability
- Temporary Pastries Group check availability
- New check availability
- The Sacred check availability
- FreeKeto check availability
- Sacred Specialized check availability
- The Http Sweets check availability
- Balanced check availability
- Quavery Bakery check availability
- DiabeticDiet check availability
- Crunchy Control check availability
- The Dental check availability
- Competent Consultant check availability
- Top Medical Specialist Trading Co check availability
- MereSpecialist check availability
- Inadequate Fatless Collective check availability
- Biscuit Trading Co check availability
- Low Cal Spot check availability
- Chip Crumb Cake check availability
- PersistentCookies check availability
- Biscuit Group check availability
- Suitable Fat Free Pro check availability
- The Mere check availability
- Free Ketone Trading Co check availability
- Popular Pastry Group check availability
- Scientific Specialising check availability
- Rich Nutrition Collective check availability
- Famous Consultant Pro check availability
- Fat Free Pro check availability
- The Best check availability
- Nonfat Collective check availability
- LowDiet check availability
- Owned Bread Place check availability
- The Functional Technologist check availability
- OccupationalSpecialist check availability
- NotedSpecialist check availability
- Appropriate Specializing Pro check availability
- The Content check availability
- Hydroxy Trading Co check availability
- Professional Medical Specialist Co check availability
- Flavored check availability
- Atherogenic Fatless Spot check availability
- Unbalanced Nutritional Group check availability
- The Flat check availability
- Artificial Fatless check availability
- The Wholesome Regimen check availability
- Defiant Diet check availability
- Chain Ketone Spot check availability
- The Giant Cakes check availability
- Prejudiced Specialist check availability
- Specializes Spot check availability
- Crisp Crackers check availability
- Crisp Cupcakes check availability
- Busy Baby check availability
- Low Fatless Co check availability
- Senior Specialization check availability
- Busy Bakehouse check availability
- Calorie Nonfat check availability
- Freshly Cakes Collective check availability
- OreoCookies check availability
- Inadequate Regimen Pro check availability
- Out Sweets Co check availability
- Public check availability
- The Temporary Brownies check availability
- Legal check availability
- The Technical check availability
- Crushed Crackers check availability
- Famous check availability
- Chain Cobalamin check availability
- The Ketogenic check availability
- Crisp Cake check availability
- Scale check availability
- Big Baby check availability
- The Agricultural Specializer check availability
- The Smart Brownies check availability
- Free Ribose check availability
- The Optimal check availability
- CorrespondingKeto check availability
- Site Baby check availability
- Best Bagel check availability
- Free Ketone Group check availability
- Cytochrome Trading Co check availability
- Hookey Cookies check availability
- Riots Diet check availability
- Zion Diet check availability
- Professional check availability
- InfectiousSpecialist check availability
- SubjectSpecialist check availability
- Free Low Cal check availability
- Fat Free Collective check availability
- The Danish check availability
- The Agricultural Specialized check availability
- Eating Spot check availability
- Oatmeal Sweets Group check availability
- FlavoredCookies check availability
- Skilled Specialty check availability
- The Diabetic Pge check availability
- Deoxy Co check availability
- The Mechanical check availability
- Downtown check availability
- Hard check availability
How To Create A Slogan For Your Keto/Specialist Bakery Business:
Slogans are a critical piece of your marketing and advertising strategy.
The role of your slogan is to help your customer understand the benefits of your product/service - so it's important to find a catchy and effective slogan name.
Often times, your slogan can even be more important than the name of your brand.
Here are 6 tips for creating a catchy slogan for your keto/specialist bakery business:
1. Keep it short, simple and avoid difficult words
A great rule of thumb is that your slogan should be under 10 words. This will make it easy for your customer to understand and remember.
2. Tell what you do and focus on what makes you different
There are a few different ways you can incorporate what makes your business special in your slogan:
- Explain the target customer you are catering your services towards
- What problem do you solve?
- How do you make other people, clients, or your employer look good?
- Do you make people more successful? How?
3. Be consistent
Chances are, if you're coming up with a slogan, you may already have your business name, logo, mission, branding etc.
It's important to create a slogan that is consistent with all of the above.
4. Ensure the longevity of your slogan
Times are changing quickly, and so are businesses.
When coming up with your slogan, you may want to consider creating something that is timeless and won't just fade with new trends.
5. Consider your audience
When finding a catchy slogan name, you'll want to make sure that this resonates across your entire audience.
It's possible that your slogan could make complete sense to your audience in Europe, but may not resonate with your US audience.
6. Get feedback!
This is one of the easiest ways to know if your slogan will be perceived well, and a step that a lot of brands drop the ball on.
Ask friends, family, strangers, and most importantly, those that are considered to be in your target market.
Here's some inspiration for coming up with a slogan for your keto/specialist bakery business:
- Point Of The Ribose
- And On The Eighth Day, God Created Bakery.
- Keto/Specialist, I Want It All.
- Diabetic Glycyrrhizins Are What We Do
- Diet Built To Perfection.
- A Keto/Specialist Is Forever.
- Diet Reaching For The Stars.
- For Mash, Get Keto/Specialist.
- The Better Way To Start The Cookies.
- Promise Her Anything, But Give Her Keto/Specialist.
- Commercial Bakery, Satisfaction Guaranteed
- Pure Keto/Specialist.
- Keto/Specialist Just What The Doctor Ordered.
- From Old Style To Ultramodern
- Makes You Feel Diet Again.
- Diabetic And Glycemic
- You Can't Beat Keto/Specialist.
- Senior Technologist, Clinical Specialized
- Keto/Specialist, Does The Job.
- Because Specialist Can't Drive.
- Easy, Breezy, Beautiful Bakery.
- The Most Interesting Cookies In The World.
- Review The Facts Keto/Specialist Is The Best.
- Keto/Specialist, Do You Need Anything Else?
- You Don't Want Cookies As Your Enemy!
- Public Specialist, Redefined
- You Can Do It When You Keto/Specialist It.
- Chain Dimethyls Are What We Do
- Chip Biscuit, More Brownies
- High Diet, We Care
- Keto/Specialist Stays Sharp 'Til The Bottom Of The Glass.
- The Ideal Keto/Specialist.
- Keto Is My Sport.
- Keto/Specialist, Since 1845.
- A Leaner, Meaner Keto/Specialist
- Nothing Is Faster Than Keto.
- Chip Eyewitnesses Are What We Do
- Office Of The Cytochrome
- What's In Your Cookies?
- You Can Be Sure Of Keto.
- Refreshes The Keto/Specialist Other Beers Cannot Reach.
- Medical Specialized, Infectious Specializing
- Can You Feel Diet?
- Homemade Popovers Are What We Do
- Point Of The Nutritional
- America's Most Trusted Bakery.
- Keto/Specialist, Pure Lust.
- More Crackers, Party Candies
- Delicious Gingersnaps Are What We Do
- Keto/Specialist? You Bet.
- Keto/Specialist For President.
- I Feel Like Cookies Tonight.
- Specialist - See The Light!
- Aim Of The Baker
- So Easy, No Wonder Bakery Is #1.
- There's Only One Thing In The World I Want And That Is Cookies.
- You Need A Keto.
- Let Your Specialist Do The Walking.
- Is It Live, Or Is It Keto/Specialist?
- Specialists With Management
- Bakery, Your Specialist.
Learn more about starting a keto/specialist bakery business:
Where to start?
-> How much does it cost to start a keto/specialist bakery business?
-> Pros and cons of a keto/specialist bakery business
-> Other keto/specialist bakery business success stories
-> Examples of established keto/specialist bakery business
-> Keto/specialist bakery business tips
🎬 How To Start A Keto/Specialist Bakery Business
How Much Does It Cost To Start A Keto/Specialist Bakery Business
If you are planning to start a keto/specialist bakery business, the costs are relatively low. This, of course, depends on if you decide to start the business with lean expenses or bringing in a large team and spending more money.
We’ve outlined two common scenarios for “pre-opening” costs of starting a keto/specialist bakery business and outline the costs you should expect for each:
- The estimated minimum starting cost = $62
- The estimated maximum starting cost = $35,923
|Startup Expenses: Average expenses incurred when starting a keto/specialist bakery business.||Min Startup Costs: You plan to execute on your own. You’re able to work from home with minimal costs.||Max Startup Costs: You have started with 1+ other team members.|
|Employee & Freelancer Expenses|
|Payroll Costs & Fees: Payroll cost means the expense of paying your employees, which includes salaries, wages, and other benefits. This number depends on if you decide to pay yourself a salary upfront and how many employees you have on payroll. At first, many founders take on all responsibilities until the business is up and running. You can always hire down the road when you understand where you need help. Keep in mind, if you do plan to pay yourself, the average salary founders make is $50K.||$150||$250|
|Employee Hiring Expenses: Apart from payroll and benefits, there are other hiring employees costs. This includes the cost to advertise the job, the time it takes to interview candidates, and any other turnover that may result from hiring the wrong candidate.||$1||$2|
|Total Employee & Freelancer Expenses||$151 (min)||$252 (max)|
|Website Builder: The cost of your website will vary depending on which platform you choose. There are many website builders on the market, so it's important you choose the right one for your business and overall goals. To learn more about your options + how to build a great website, check out this article.||$10||$500|
|Web Designer: Web design includes several different aspects, including webpage layout, content creation, and design elements.If you have the skills and knowledge to design your website on your own, then outsourcing this to an expert may not be necessary. There are plenty of other ways you can design a beautiful website using design tools and software.||$200||$6,000|
|Domain Name: Your domain name is the URL and name of your website - this is how internet users find you and your website.Domain names are extremely important and should match your company name and brand. This makes it easier for customers to remember you and return to your website.||$12||$200|
|Business Email Hosting Service: An email hosting runs a dedicated email server. Once you have your domain name, you can set up email accounts for each user on your team. The most common email hosts are G Suite and Microsoft 365 Suite. The number of email accounts you set up will determine the monthly cost breakdown.||$1||$15|
|Website Hosting Costs: Server hosting is an IT service typically offered by a cloud service provider that hosts the website information and allows remote access through the internet. A hosted server can help you scale up and increase your business’s efficacy, relieving you from the hassles of on-premise operations.||$0||$300|
|Total Website Costs||$223 (min)||$7,015 (max)|
|Business Formation Fees|
|Small Business Insurance: Depending on which state you live in and the business you're operating, the costs and requirements for small business insurance vary. You can learn more here.||$500||$2,000|
|Permit and License Fees: Depending on your industry, there are certain licenses and permits you may need in order to comply with state, local, and federal regulations. Here is an article that goes over all the permits and licenses you may need for your keto/specialist bakery business.||$50||$700|
|Lawyer Fees: Although you may want to avoid attorney fees, it's important that your business (and you) are covered at all costs. This comes into play when creating founder agreements, setting up your business legal structure, and of course, any unforeseen circumstances that may happen when dealing with customers or other businesses.||$0||$1,500|
|Set up business: LLC & Corporations: The first step in setting up your business is deciding whether your business is an LLC, S Corp or C Corp. The cost for this depends on which state you form your business and which structure you decide on. We put together an article that goes over the 10 Steps To Setting Up A Business.||$50||$500|
|Total Business Formation Fees||$600 (min)||$4,700 (max)|
|Mode of Transporation: For your keto/specialist bakery business you'll need to rent or purchase an operating vehicle such as a van, vessel, RV, or enclosed trailer.||$0||$10,000|
|Total Vehicle Expenses||$0 (min)||$10,000 (max)|
|Retail Business Expenses|
|Utilities (storefront business): This refers to the cost of monthly utilities for your storefront location, which is typically based on a per-square-footage rate.||$0||$1,000|
|Building improvements and remodeling: If you plan to operate a physical location, you may find yourself dealing with building improvements and remodeling costs. Even if these costs are minimal, this is something to consider when renting/buying a physical location.||$0||$950|
|Storefront Property Rent: This refers to the storefront space you rent or buy for your business. The cost depends largely on the city and the size of the space. Keep in mind that other costs may be involved with your base rent and your lease will define additional expenses you are responsible for.||$1,250||$3,500|
|POS System: Gone are the days of cash registers! Many businesses now use point-of-sale systems for their checkout needs and to track sales and inventory. Here is a list of the best POS systems for small businesses!||$0||$1,200|
|Total Retail Business Expenses||$1,250 (min)||$6,650 (max)|
|Advertising & Marketing Costs|
|Business Cards: A keto/specialist bakery business involves quite a bit of customer interaction, whether that is attending tradeshows, sales calls or simply having face to face interaction with prospective clients. Business cards are a great way to stay front of mind with your clients.||$0||$50|
|Business Signage: Business signs let people know they're in the right place and are one of the first impressions your customer will have of your business.The cost for signage depends on a variety of elements:- material- size- number of colors- durability- installation and laborThere are plenty of design tools and software to create your own signs, or you can hire a sign business to do this for you.||$75||$2,486|
|Direct Campaigns, Printing and Mailing: Although it may sound old-school, traditional marketing methods can be a cost-effective way to drive awareness for your brand. This includes flyers, postcards, sales letters, coupons, special offers, catalogs and brochures.||$0||$300|
|Press: If your business and story is unique enough, press and media attention may come to you, but odds are, you may need to do your own outreach and budget for this. We put together a guide here that discusses different press opportunities (both free and paid).||$0||$500|
|Google Ads: With Google Ads you have the ability to control how much you spend by simply setting a monthly budget cap. Additionally, with these ads you only pay for results, such as clicks to your website or phone calls! It's okay to start with a small budget at first and make changes accordingly if you see valuable returns.||$0||$300|
|Facebook & Instagram Ads: With Facebook and Instagram ads, you set your budget and pay for the actions you want (whether that be impressions, conversions, etc).You can learn more about pricing based on your impressions here.||$0||$350|
|Total Advertising & Marketing Costs||$75 (min)||$3,986 (max)|
|Email marketing tool: If you plan to grow your email list and email marketing efforts, you may want to consider investing in an email marketing platform (ie. Klaviyo, MailChimp). We put together a detailed guide on all of the email marketing tools out there + the pricing models for each one here.||$0||$100|
|IT Support: IT support installs and configures hardware and software and solves any technical issues that may arise.IT support can be used internally or for your customers experiencing issues with your product/service.There are a variety of tools and software you can use to help with any technical issues you or your customers are experiencing. This is a great option for businesses that do not have the means to hire a team of professionals.||$150||$2,000|
|Accounting & Invoicing Software: It's important to have an accounting system and process in place to manage financials, reporting, planning and tax preparation. Here are the 30 best accounting tools for small businesses.||$0||$50|
|CRM Software: CRM (customer relationship management) software system is used to track and analyze your company’s interactions with clients and prospects. Although this is not a necessary tool to have for your business, implementing this, in the beginning, may set your business up for success and save you valuable time.||$12||$300|
|Internal Communication Tool: If you plan to have multiple members on your team, you may want to consider an instant message tool such as Slack or Telegram. The cost is usually billed per month (approx $5/user/month) or there are freemium versions available on many platforms.||$0||$20|
|Social Media Management Tools: If you plan to do social media marketing for your keto/specialist bakery business, you should consider investing in a social media automation or publishing tool. This will save you time and allow you to track performance and engagement for your posts. Here is a list of 28 best social media tools for your small business.||$0||$50|
|Payroll Software: The main purpose of payroll software is to help you pay your team and track each of those payments (so that you don't have to do it manually). If you do not have any employees or have a very small team, payroll software may not be necessary at this stage. Here are the 11 best payroll tools for small businesses!||$0||$200|
|Total Software Expenses||$162 (min)||$2,720 (max)|
|Office Space Expenses|
|WiFi & Internet: Whether you work from home or in an office space, WiFi is essential. Although the cost is minimal in most cases, it should be appropriately budgeted for each month!||$0||$100|
|Total Office Space Expenses||$0 (min)||$100 (max)|
|Specific Industry Expenses|
|Handyman Tools: To start your keto/specialist bakery business, you will need to have the essential tools to bring to each job. Here's a list of tools to get you started - you may find that you already have these in your tool-kit or garage!||$0||$500|
|Total Specific Industry Expenses||$0 (min)||$500 (max)|
|Total Starting Costs||$62 (min)||$35,923 (max)|
Raising Money For Your Keto/Specialist Bakery Business
Here are the most common ways to raise money for your keto/specialist bakery business:
You may not need funding for your keto/specialist bakery business.
In fact, many entrepreneurs take this approach when starting their own business, whether they have a little amount of cash or a substantial amount to get started.
So what exactly does the term "bootstrapping" mean?
This method essentially refers to self-funding your businesswithout external help or capital and reinvesting your earnings back into the business**
Bootstrapping means building your company from the ground up with your own, or your loved ones, personal savings and reinvesting all earnings back into the business
Here are some tips to consider when bootstrapping your business:
- Use your savings as your capital - one of the best ways to bootstrap your business is to collect your savings and use them as startup capital. This will also help you avoid using your personal or business credit cards when getting started.
- Determine exactly how much capital you need and how much capital you have to get your business off the ground. Generally, when bootstrapping your business, you may want to consider starting a business that involves less startup capital.
- Consider starting a business that will generate immediate returns so you can put money back into the business
- Be as lean as possible - this refers to cutting down expenses as much as possible, such as payroll, fancy software tools, unnecessary travel, renting an office, etc
- Consider outsourcing instead of hiring - in the beginning, you may not need to hire someone permanently to help run your business. It tends to be much less expensive to outsource work to a freelancer and hire someone permanently down the road!
Want to learn more about bootstrapping your business? Check out this article
For your keto/specialist bakery business, a common way to raise money is through crowdfunding.
So, what does it mean to crowdfund your small business?
Crowdfunding refers to funding a project through many individual investors.
Here are some items to keep in mind when planning your campaign:
- Sell more than just your product. Sell your passion, your vision, and your story.
- Be real. Give your community honest details about your product.
- Treat your audience as your friends (not just potential customers)
- Put together a great presentation - it will attract people quicker.
To launch a successful crowdfunding campaign, you first need to select the type of crowdfunding platform to host your campaign.
Here are the most popular crowdfunding platforms to raise money on:
Funding platform for creative projects.
- Pricing: Freemium
- Twitter: @kickstarter
- Website: kickstarter.com
Businesses using Kickstarter:
85 successful businesses are using Kickstarter ➜
Crowdfunding platform for innovations in tech and design.
- Pricing: Freemium
- Twitter: @Indiegogo
- Website: indiegogo.com
Businesses using Indiegogo:
33 successful businesses are using Indiegogo ➜
Crowdfunding platform that has helped more than 350 companies raise $175M+ from a community of over 250,000 prospective investors.
- Pricing: Free
- Twitter: @StartEngineLA
- Website: startengine.com
Businesses using StartEngine:
We connected with one of the most successful Kickstarter campaigns, Photobooth Supply Co, and asked founder, Brandon Wong to give us some insight on his strategy:
Product first, campaign second
So with all of those positive benefits of the platform figured out, we wanted to make sure we had the product itself in the right place before we launched.
We’ve been working on Salsa for a long time now and wouldn’t have felt comfortable revealing the ability to pay for it until we hit a very important milestone. We had a final prototype.
Doing all of the sourcing and actual production is secondary—there was absolutely no way we could have gone public without people being able to see real photos (and touch in person) a functioning prototype.
This meant that we had to do all of the development before we ever saw a cent.
Finding backers in the real world
We launched the product at our annual Booth Summit, which is a convention for photobooth owners to get together and learn from experts in the field. Launching a product in a receptive environment is generally considered to be a good idea. The same was definitely true for us!
We had a crowd of people who had just told us they were dedicated to growing their business… and we had the chance to offer them a way to do just that. I really can’t emphasize enough how important it is to make products that matter for people who will care about them.
This opportunity to see the product in real life was an essential component for our launch, but it might not be the same for you. I think it just shows how essential having a great prototype is. People love to touch and feel what they’re buying, if you’re talking about something physical… you should be able to show a prototype before you ask for money.
Building excitement with even the smallest backers.
We knew that we wanted to have a ton of incentives for early backers so that they’d be rewarded for taking a leap of faith on a new photobooth.
We’re obviously not making a whole lot of money on that first $1999 tier. But it enabled people to be part of something fun.
Every $1999 backer is always going to be able to say, not just that they got a great deal, but that they were one of the first to get on board. It means a lot more than a discount code expiring—just look at how frustrated people are on Twitter when a limited stock of rewards is secretly gobbled up.
Kickstarter doesn’t reveal the names of backers, but it humanizes them. And it just adds to the fun of getting your own spot! Even for someone backing now, they’re able to say that they were an early adopter.
Delivering on our promise
One of the most common critiques of Kickstarter items is that they either never show up or that they take years. I wanted to make sure that our timeline was easy to deliver and also reasonable.
Nobody deserves to wait two years for your product after they pay for it. I felt like we needed to offer a much quicker turnaround than that. We launched on Black Friday 2018 with an estimated delivery of April 2019.
That’s under 6 months and much lower than the average Kickstarter! The most important thing is that we will be able to meet that timeline. You can’t go around promising delivery dates and missing them, this isn’t a consumer product.
Anytime you’re working with the events industry you have to be very transparent and up front about timelines. A bride who books a photobooth needs it to show up on her wedding day. It’s non-negotiable!
VC funding is a traditional and long process, but an effective way to raise money for your business.
The term "VC funding" refers to venture capital firms investing in businesses in exchange for equity.
The VC's (venture capitalists) are an individual or small group investing in your business and typically require substantial ownership of the business, with the hope of seeing a return on their investment.
VC's are typically the best approach for businesses with high startup costs - where it would be very difficult to raise the money on your own or through a loan.
When deciding whether to take this approach, it's important that you have a few things in place first, and know what you're getting yourself into:
Determine if your business is ready
Having an idea is not enough to get VC funding.
Typically, VC's will check to make sure you have these things in place prior to closing any deal:
- An MVP (Minimal Viable Product)
- A founding team with all proper documents in place (articles of organization, business formation)
- A validated idea with actual customers buying your product/service
Get everything in place and build a pitch deck
A VC individual or firm will be expecting a fine-tuned presentation that gives an overview of your business.
Here's what you should consider including in your pitch deck:
- Management team, their previous experience + current roles in the business
- Market challenge and solution
- Company financials - including a P&L statement, cash flow statement, and projections
- Company progress
- Investment amount - how much do you need and why?
Research the right VC to fund your business
Research the types of VC investors out there and what niche they focus on.
Then, put together a list of target VC's you want to approach and your strategy around setting up meetings.
Be sure you have everything in place (as discussed above) before setting up any meeting!
Make sure the terms and expectations are right for your business
Committing to VC funding is a big deal and a decision that should not be made lightly.
Although the money and experience from VC's can help your business quickly grow, you are also giving away a stake in the company, and the money comes with strings attached.
Be sure you do your due diligence in finding the right investor - one that truly believes in the growth and success of your business.
What Skills Do I Need To Succeed In Starting A Keto/Specialist Bakery Business?
As a keto/specialist bakery business, there are several essential skills and characteristics that are important to identify prior to starting your business.
Let’s look at these skills in more detail so you can identify what you need to succeed in your day-to-day business operations:
Business Savvy Skills
When starting a keto/specialist bakery business, there are a few fundamental business skills you will want to learn in order to be successful:
- Leadership and training skills: A great team starts with YOU. Make sure you have all company policies and training procedures in place prior to hiring your team
- Decisive and self-confident: Over the course of your career, you will need decisions that could impact your business significantly. It's important you are able to think clearly and rationally about these decisions.
- Ability to understand the financials: You don't need to be an accountant, but it is important that you are able to clearly understand and define metrics such as expenses, revenue, profit, margins, COGS, etc.
- Strategic Thinking: Setting clear goals and benchmarks, identifying opportunities, risks. Ability to effectively communicate these insights to your team.
These are a few of many business savvy skills you should have (or work on) when starting a keto/specialist bakery business.
For a full list, check out this article here.
Customer Service Skills
Friendly communication with customers and the ability to address service issues is a critical part of the job.
Here are some customer service skills you may want to consider prior to starting a keto/specialist bakery business:
- Professionalism: The way you act, present yourself, and respond to situations all leave an impression on your customer. It's important to stay professional at all times when handling customer requests or issues.
- Problem-solving: When issues arise, it's important that you are able to think quick on your feet and address the situation with a calm and clear solution
- Friendly-manner: This is an obvious one, but customers truly appreciate someone that can respond in a quick, efficient, and friendly manner.
- Proficient in writing: These skills include the ability to write well-crafted emails, service tickets, and any other programs used by the business (ie. chat functions, SMS texting)
Self Motivation Skills
Self motivation and discipline skills are critical in order to become successful in this field.
It's likely that you will find yourself starting and running your keto/specialist bakery business from home, which could mean there are more distractions for you.
Here are the basic skills needed for self motivation & discipline:
- Becoming a self starter: It's important that you are capable of independently completing a task without the help or direction of anyone else
- Listening and following directions: When you are given direction by others, it's critical that you are able to follow directions and ask the right questions in order to get your job done
- Taking the initiative in problem solving: Instead of taking the easy route, you'll need to learn to troubleshoot issues on your own as much as possible.
The ability to negotiate on behalf of your client will be an essential part of your every day job.
This is one of the most important qualities you can have when starting a keto/specialist bakery business, so it's important you practice and perfect these skills.
Here's what this looks like:
- Ability to analyze all parts of the deal: your biggest power is to understand and analyze all parts of the deal for your client, choose when to walk away, and know to what lengths you can negotiate a deal.
- Building rapport: This is key in the keto/specialist bakery business. You are much likely to reach an agreement and favorable terms if you spend just a few moments getting to know each other before talking about the deal at stake.
- Be diplomatic: Being in control of any situation presented and showing intention with your words are key qualities for someone in this line of work. This includes asking good questions and listening actively.
Becoming a good negotiator does not happen overnight, but as long as you are persistent with practicing these skills and putting them into action, you will see growth day by day!
Advice For Starting A Keto/Specialist Bakery Business
We've interviewed thousands of successful founders at Starter Story and asked what advice they would give to entrepreneurs who are just getting started.
Here's the best advice we discovered for starting a keto/specialist bakery business:
Write a Business Plan
Writing a business plan from the start is critical for the success of your keto/specialist bakery business.
Because this allows you to roadmap exactly what you do, what your overall structure will look like, and where you want to be in the future.
For many entrepreneurs, writing out the business plan helps validate their idea and decide whether or not they should move forward with starting the business.
You may want to consider expanding upon these sections in your business plan:
- Executive Summary: Brief outline of your product, the market, and growth opportunities
- Overviews and Objectives: Overview of your business, target customers, and what you need to run your business
- Products and Services: Specifics on the products and services your business will provide
- Market Opportunities: Analysis of customer demographics, buyer habits and if your product is in demand
- Marketing: Outline of your marketing plan and how you plan to differentiate yourself from other customers
- Competitive analysis: Analysis of your competition and the strengths and weaknesses therein
- Operations: Hierarchal structure of the company and what it will take to run the business on the day-to-day
- Leadership Team: Detailing roles and responsibilities of each manager based on their specific skill-set
- Financial Analysis Understanding of all expenses, operating budgets, and projections for the future.
Learn more about how to write a business plan here
Determine Which Business Bank Account You Need
There are hundreds of banks out there, and it can be overwhelming to find one that's right for your business.
Here are some factors you may want to consider:
- Location - Is your bank close enough that you can easily make deposits or get cash?
- Low Fees - Make sure to understand any and all fees associated with setting up and maintaining your bank account. Ask for a list - banks usually try to keep this hidden and in the fine print.
- Online Banking Services - Make sure you can easily navigate through your online portal and you have easy access to everything you need.
- Line of Credit - What do your options look like (even if you don't need this now, you may need this down the road).
- Every bank has something that differentiates them from the rest, so make sure whatever that is applied to your needs and values.
Check out this list of the 13 Best Banks for Small Business in 2020 and what makes them so unique.
Setting Up Your Keto/Specialist Bakery Business (Formation and Legal)
When it comes to setting up your business, you may find yourself in a place where you have to make some financial and legal decisions.
The first thing you'll want to decide on is whether you want to be an LLC, S-Corp, or C-Corp.
These three options are found to be the most common when starting a small business, and all serve to protect your personal assets and also provide you with certain tax benefits.
- LLC: All income and expenses from the business are reported on the LLC personal income tax return.
- S corp: Owners pay themselves salaries + receive dividends from profits.
- C Corp: C Corps are separately taxable entities that file a corporate tax return (Form 1120). No income tax is paid at the corporate level and any tax due is paid at the owners individual expense.
Depending on where you're conducting business, you'll also want to consider securing the proper permits, licenses and liability insurance.
Learn more about securing the right permits and licenses ➜
Need to start an LLC? Create an LLC in minutes with ZenBusiness.
How Do I Pay Myself As A Small Business Owner?
Most entrepreneurs start a business to do something they love- but at the end of the day, you still have bills to pay (maybe now more than ever).
But it's important to strike the right balance - if you pay yourself too much, you could be putting your business at risk.
There are two common ways to pay yourself as a business owner:
1. Owner's Draw
Many entrepreneurs pay themselves through an owner's draw. This means that you are technically sean as "self-employed" through the eyes of the IRS and are not paid through regular wages.
At the point that you collect money from the draw, taxes typically are not taken out - so make sure you are prepared to pay these taxes once you file your individual return.
As an owner who takes a draw, you can legally take out as much as you want from your equity.
This type of compensation is suited for Sole props, LLCs, and partnerships. If you’re an S corp, you can pay yourself through both a salary and draw if you choose.
If you decide to pay yourself a salary, you will receive a set and recurring amount. This will be taxed by the federal government and the state you reside in.
The reality is that it can be really complicated to set your own salary, so we have some tips for you to consider:
- Take out a reasonable amount that allows you to live comfortably but also sets your business up for success
- Consider the number of hours you are working weekly + the type of duties you are performing.
- Set your salary based on your industry-standard, location, and profits (or projected profits)
- Look at your P&L statement: Deduct your own pay from that amount. This is important so you can first tackle important business expenses, and then pay yourself from the amount leftover.
- Pick a payroll schedule (and stick to it)! In the US, it's most common to pay yourself and employees twice a month.
To learn more about how to pay yourself and what is a reasonable amount, check out this article.
How To Price Your Keto/Specialist Bakery Products
One of the most challenging aspects to starting a keto/specialist bakery business is determining how much to charge for your keto/specialist bakery products.
When businesses under-price their product, this can be extremely detrimental to their bottom line and reputation.
Often times, businesses under-price their products to drive demand and volume, but that last thing you want is for customers to view your product/service as "cheap." Additionally, this can have a big impact on the type of customer you attract, which can be difficult to recover from.
On the other hand, when businesses over-price, this tends to be just as damaging to the business.
When customers buy, it's likely that they will explore the internet and look at other competitors to ensure they're getting the best value + deal. This is why it's so important that you research your competition and understand where you land in the marketplace.
Here are some factors to consider when pricing your product:
Understand your customer
It's important that out of the gates, you identify the type of customer you want to attract and how much they're willing to pay for your service. One great way to do this is by surveying your customers. Here are some important items you'll want to takeaway:
- Customer demographic: Age, gender, location, etc.
- Buying habits of your customer: What they buy + when they buy
- Level of price sensitivity with your customer
All of these segments will help you identify the type of customer you're attracting and how to price your product accordingly.
Understand your costs
When pricing your keto/specialist bakery products, it's critical that you first identify all of your costs and consequently mark up your keto/specialist bakery products so you can factor in a profit.
The actual cost of your keto/specialist bakery products may include things like:
- The actual cost to make the product (ie. raw materials, supplies, manufacturer).
- Shipping + overhead fees
- Operating costs to run your business
You may want to consider creating a spreadsheet with every single expense involved in operating/owning your business. This will give you an idea as to what you need to generate in order to at the very least, break-even and will help you price your products to factor in a profit.
Create revenue goals
When determining the price of your keto/specialist bakery products, you'll want to create goals for revenue + how much profit you want your keto/specialist bakery business to make.
This process is simpler than you may think:
- Think about your breakeven cost (by completing the above step).
- Create a revenue goal based on your break-even cost
- Evaluate the # of items you plan to sell in a given period (make sure this is a realistic number)
- Divide your revenue goal by the number of items you plan to sell
This figure will help determine your estimated price per product in order to meet your revenue goals.
Evaluate your competition
The last piece in determining how to price your keto/specialist bakery products is by simply looking at your competition.
The best way to do this is by finding like-minded businesses that offer product(s) with similar perceived value. Then, you can compare prices of the different businesses and determine where your keto/specialist bakery products fits best in the marketplace.
All of these factors play an equal part in pricing your keto/specialist bakery products, so it's important you evaluate each one individually to come up with an accurate price that will help optimize your business from the start.
Gross Margin Calculator: How to Calculate The Gross Margin For Your Keto/Specialist Bakery Products
Our calculator is designed to be simple and easy to use.
The goal is to help you set realistic expectations and understand what is considered a healthy gross margin for your keto/specialist bakery business.
Calculate your gross margin and profit margin here.
Design A Prototype
Turning your idea into a reality can feel like a daunting task - but it's critical that you have an idea of what your product will look like (even if it's just a sketch) prior to finding a manufacturer.
Here are some common ways you can design your prototype:
- Draw Your Initial Design on Paper
- Form pieces of fabric together
- Consider Taking A Generic Product And Putting Your Own Brand On It
- Try Making the Product Yourself
- Consider Building A Prototype With A 3D Printer
To learn more about how to design and prototype a product, check out our latest guide here.
David Downing, founder of ChipMonk Baking dives deep into the process of designing and prototyping their product:
Everything started with that first batch of chocolate chip cookies that Jose made in our apartment oven. He used a traditional cookie recipe found online as a starting point and replaced ingredients with ones more suitable for his needs. We bought plastic bags on Amazon and slapped some stickers with our logo on them for the packaging. Our mindset was to immediately try to sell the product, not worrying about perfecting it immediately but improving it gradually over time based on the feedback of real customers.
We started by going to local farmer’s markets on the weekends, handing out samples, and selling boxes of our cookies. It was pretty brutal in the Texas summer heat, and we did all our baking late at night at home since we were still both working full-time jobs. We were determined though, and the positive feedback we were getting from folks kept us going.
Showing off some of our earliest cookie flavors
Eventually, we learned that to launch a website and ship food products across the country, we had to make our desserts in a commercial kitchen. It was far too costly to build our own kitchen, so we started making phone calls to any place in the city that might have extra space for us to use (e.g., churches, restaurants, fire department stations, catering companies, shared kitchens). Eventually, we connected with a large catering company that allowed us to use their kitchen during the evenings and weekends for an affordable monthly price.
One of our first bakes in our commercial kitchen
Once we moved into the new space, and as our sales started to grow, we realized that we needed to scale up production. We had no idea how to do this, of course, since neither of us had any real baking experience. To solve the problem, we looked at the University of Houston’s Hilton College of Hotel and Restaurant Management and found a local professor with a background in food safety and commercial baking.
We hired him as a consultant, and he helped us design processes for larger-scale production. We also worked with him to take our recipes to the next level by switching out sugar alcohols for our current sweetener blend of monk fruit and allulose. The professor taught us about unique, natural ingredients like konjac root powder and psyllium husk fiber which we were able to incorporate into our desserts giving them a unique flavor and texture.
He also taught us the basics of shelf-life testing and the types of things you have to monitor to try to make your products stay fresh longer (e.g., water activity).
Jose and the professor from the University of Houston working on recipe development
We learned how important earned media exposure can be, so we are always actively reaching out to influencers, bloggers, YouTubers, and traditional media to see if they’d be interested in sharing our story.
Once we had the recipes and production process down a bit more, we turned our attention to improving our packaging. Luckily for us, my sister-in-law is a professional graphic designer with experience in consumer packaged goods. Working with her, we designed our first custom printed cookie bags and mailer boxes which we ended up sourcing overseas via Alibaba. The first order was a bit scary, but we found a trusted supplier who has since been able to produce high-quality packaging for us at a price we can afford.
Various iterations of our brownie bite packaging design
Going forward, we are constantly working on improving our base recipes, production processes, and packaging design. It’s an iterative process and we always try to use the voice of our customers as our guide. We’ve got an email subscription list of over 4,000 people now and regularly send them surveys to help give us direction on product development.
One of our early farmer’s market events
🚀 How To Launch Your Keto/Specialist Bakery Business
Build A Website
Building a website is imperative when launching your business, and with the right tools in place, this can be a simple task to check off the list (without having to hire someone).
- Pick a domain name that's easy to remember and easy to type
- Choose a Web Hosting Plan (ie. Shopify, Squarespace)
- Make sure you choose the right theme and design
- Implement the proper page structure (ie. about page, contact page, pricing etc)
To learn more about how to build a stellar website with little stress, we give you all the details on this step-by-step guide.
Once you have chosen the domain, web hosting, and platform, it's time to get started with the design phase.
Themes are a great way to produce the fundamental style and identity of your website - this includes everything from your font design to your blog post styles.
One of the best ways to get started is to simply explore the various themes (free or paid depending on what you're looking for) and test them on your site.
If web-design really isn't in the cards for you, you may want to consider outsourcing a web designer to help bring your vision and brand to life.
Traditional Launch Strategies For Your Keto/Specialist Bakery Business:
There are various different ways you can launch your keto/specialist bakery business successfully.
Here are a few different strategies to get customers excited about your keto/specialist bakery business:
- Set up a Facebook page for your business. This is a great way to establish an online presence
- Host an event in a fun location with drinks & food. This is a great way to get exposure in the local community.
- Get Press! Pitch your story to the media and you may just land in an amazing publication
- Live sales to get customers excited
- Send a hand-written letter in the mail with a discount on your services to the local community/neighborhoods.
David Downing, founder of ChipMonk Baking dives deep into the process of launching the business:
Our “launch” involved us creating a Delaware C Corp (via gust.com), creating a PayPal account, getting a card reader, and setting up a booth to sell our cookies at our co-working office and farmer’s markets on the weekends. We baked everything at home and were operating under the Texas Cottage Industry laws which let you sell home-made goods but with some limitations.
From there, we built our first website on Squarespace and created profiles on various social media outlets (@chipmonkbaking on Facebook and Instagram). Eventually, we moved out of our home kitchen into a shared commercial kitchen which let us start selling our products on our website and shipping them across the country. Over time, we upgraded our website and moved it from Squarespace to Shopify. This gave us access to additional applications to improve our sales and conversion rates (e.g., subscription products). It also gave us more flexibility to customize our website’s look and feel.
The business started as a side hustle for us, so we initially funded it with our own money to the tune of $5,000. We ran the business through 2019 without investing much more beyond that. We set a goal of reaching $10,000 in monthly sales by the end of 2019, which we accomplished. With that, we both decided to go full-time on the business and we decided to raise money from friends, family, and a crowdsourcing platform called NextSeed.
All-in-all, we’ve now raised $350,000 which we are using to build out our own bakery and warehouse space and to hire a few amazing people to help us with marketing and operations. Our goal is to use the money to build a foundation for growth for the next few years.
Looking back, the big turning point for us came from our exposure on some key YouTube Channels (KetoConnect) and media outlets (Houston Chronicle, Fox 26 Morning News). All of a sudden, we got exposed to thousands of people interested in our story and products, and we saw major spikes in sales that helped build a strong base of repeat customers. We learned how important earned media exposure can be, so we are always actively reaching out to influencers, bloggers, YouTubers, and traditional media to see if they’d be interested in sharing our story.
Know your numbers and be very conservative with financial forecasts. Make sure you understand your profitability metrics and plan for times where your sales goals will not be met due to unseen circumstances.
🌱 How To Grow Your Keto/Specialist Bakery Business
🏃🏼♀️ How To Run Your Keto/Specialist Bakery Business
How To Retain Customers For Your Keto/Specialist Bakery Business
Retaining customers is one of the most effective ways to grow your keto/specialist bakery business.
Oftentimes, it's easy to find yourself focusing on generating new customers, vs retaining your current ones.
Look at it this way - you are 60-70% more likely to sell a new product to an existing customer than you are a new customer.
That's not to say that finding new customers and revenue streams is not important, however, the easiest (and most inexpensive) source of new revenue is right there in front of you.
Here are some ways you can retain customers for your keto/specialist bakery business:
- Responding to comments on social media
- Send discounts (or freebies) to loyal customers
- Provide valuable content, for free
- Write a hand written thank you note
- Provide awesome customer service and build relationships with customers
To find out more tips and tricks on retaining customers, check out this article ➜ here
Anthony Rosemond, founder of Pastreez dives deep into the process of attracting and retaining customers:
The very first focus since the beginning is Search Engine Optimization. Your customers NEED to find you on Google ASAP.
This strategy is organic and takes time, but it pays off if done correctly.
For example, focus on what keywords your customers would type to find you. For Pastreez, if people were searching for macarons near me, it means they were interested to purchase.
Another variation would be “buy macarons”, or “macarons delivered”. And it works for any business: “Buy tires”, “flowers near me”, etc.
Then use an SEO tool to search who ranks best for it, and try to build better pages. Each page would target each keyword.
Too many times I see passionate people that have great business ideas but are afraid of taking the next step. If you put enough heart into it, you WILL succeed.
My website was just launched. To go from ZERO to something, SEO is always a great bet.
Then, I need to get the word out online. So I reached out to related blogs and sent them free macarons, to get fair reviews and mentions in blog posts.
With this technique, sales went from $0 in September 2017 to $6,500 in December 2017. Nice for 3 months in business!
SEO is your organic base to bring new customers in.
Once you have your SEO base going, getting an email partner such as Klaviyo is mandatory. You need to build a relationship with your current customers, even if it’s just a dozen of them at the beginning.
Through email, you’ll be able to ask for feedback. For example, we love to ask our customers what flavors they’d like to see as mother’s day macarons or Valentine’s macarons or even vote for the upcoming Black Friday offer.
This strategy is very effective to get your list to engage with your business. It creates proximity and shows that you care about them.
We also send SMS, it’s a prominent new marketing tool. See below: High conversion rate in both mobile and desktop. “SMS” means people that gave their phone number to redeem the offer. “Email” are people who gave their email as well.
Also, Pastreez's marketing strategy is to never do discounts. The reason is that discounts hurt your brand in the long run. Customers will always wait for the next discount, and never buy your normal price tag. So your brand will be a “discount brand”. Have you ever seen Apple or Tiffany co. with discounts? No. And their sales are doing great!
Instead at Pastreez, we do freebies. Get 7 macarons free for over $42. In the eye of the customer, it’s worth $19 and is not perceived as a discount, more like a gift. And we all love gifts!
On our side, it costs less to make 7 macarons than to offer 15% OFF for example. It’s a win-win.
Diversify Your Product Line
Adding new products to your business is a great way to expand into new markets and grow your business.
It's important to note that adding new products and diversifying may not be in the cards for you right this moment, and that's okay. You can always consider it down the road.
Here are some reasons you may want to considering adding/diversifying your product
- Meeting the needs of your customers
- Establish yourself as a top provider in your industry and stay ahead of the game with competition
- Resistance to downturns/trends fading
- Create new revenue streams
We put together the best resources on the internet to help you start your keto/specialist bakery business.
- Platform tools such as Shopify, Amazon, Etsy or Google Shopping
- Email tools such as Klaviyo, G Suite or Auth0
- Social media tools such as Facebook, Instagram, Twitter, YouTube, Pinterest, LinkedIn, Hootsuite or Reddit
- Advertising tools such as Facebook Ads, Instagram Ads, Google Adwords, Bing Ads, Google AdSense, Amazon Ads or Google ads
- Reviews tools such as Product Reviews or Stamped.io
- Design tools such as Canva or Adobe Suite
- Shipping tools such as ShipStation, Shippo or Amazon FBA
- Analytics tools such as Google Analytics or Google Tag Manager
- Productivity tools such as Google Suite, Microsoft Office 365, Trello, Evernote or Calendly
- Payments tools such as Paypal, Shopify Payments, Stripe, ReCharge, Amazon Payments or Bill.com
- Accounting tools such as Quickbooks
- Freelance tools such as Fiverr
- App tools such as Flexify
- Customer service tools such as Tidio
- Web hosting tools such as GoDaddy
- Wholesale tools such as Faire.com
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