Hi, after graduating college I decided to open a small at-home bakery. I have only sold to friends and family so far. I have made a profit of about $150 in one month. Is this good for starting out? Is there any advice on how to grow?

  • SiggySiggy69@alien.topB
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    1 year ago

    Before I can answer this I need some more info.

    What’s your goal? Is this a side hustle or something you’re trying to scale into a full-time gig?

    Generally though, since you’re doing this out of your home, and just beginning I’d say yes. Any profit right now is worth it. Now you need to scale, get more clients, get your product into stomachs. Once you do that you need to then make your business more efficient (more orders, pre sales and set delivery dates etc) so you’re able to cook more batches in one sitting vs 3 batches a week on 3 different days as an example.

    My goal when starting something in my free time is to look at it as “Profitable enough to pay 1 bill. Then find a way to be profitable enough to pay 2 bills. Then 3, then 4 then hopefully be able to just do it full time and replace my day to day job.”

    For me, I have a small side business. I have a very good 9-5 that I’ll retire from most likely so my small business is about paying my phone bill, car payment, car insurance, home utilities and put $500-1000 into separate savings… I don’t buy anything I can’t afford on my Regular job, for example, I wanted a car, I could afford an $300 a month car payment if my side business were to disappear, so when looking I found what I wanted then used my savings from the side business to pay the difference up front to bring that monthly cost to $300.