How To Start A Cake Business In Nigeria
- 1 How To Start A Cake Business In Nigeria
- 1.1 Reasons Cake Making Business Is Lucrative
- 1.2 Steps To Starting A Cake Making Business In Nigeria
- 1.3 Video On How to Bake Cake
- 1.4 Marketing and Advertisement in Cake Making Business
- 1.5 Other Amazing Business You Can venture Into Today
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In today’s article, I’m going to guide you on how you can start a lucrative cake making business in Nigeria, expose most important equipment and tools, skills and the best marketing plan for this type of business. Cake production business is one of the hottest businesses at the moment.
Cake making business is lucrative, WHY? Well, that is because there are tons and lots of occasions where cake is the master of the day. Without cake, an event is deeming to be incomplete and not fun. Every month, there are birthdays to be celebrated, marriage anniversaries, weddings etc. which won’t hold if there’s no cake present.
Cake is high in demand and have also ranked as one of the most eaten snacks in the world. Even when there’s nothing to celebrate, I do go shopping and buy cake just for the pleasure and taste.
Let me elaborate on why cake making business is very lucrative and why you must start this business without much ado. This business has the potential to make you financially free provided your marketing is well done.
Reasons Cake Making Business Is Lucrative
1. High Demand
Cake business is one of these businesses whose demand is so high that sometimes, I feel the market is yet to be satisfied. There are tons of events where cake makers are the king and queens of the day.
In fact, they usually have their own segment where they explain how the cake was made, the meaning of the colors and design, thereby being another avenue for advertisement.
2. Cheap to begin
This business is one of the low capital businesses that are very easy to start on a lean budget. You don’t need millions of naira to be able to do this business.
In fact, N100,000 is too much a startup cost as long as cake making business is concerned. Go on a market survey, get prices of the equipment and ingredients needed to produce a cake. You will see I was never lying all along. Where you might spend much is when acquiring your oven.
3. Easy to start and Manage
Cake making business isn’t rocket science. That means, you don’t need a university degree to be an awesome cake maker, nor do you need to pass through numerous legal protocols before you can operate in this business.
No NAFDAC number is needed either. If you’re looking for a business that is easy to start, cheap to run and manage, then cake making business is the ideal business for you.
4. Cheap TO Buy
The reason cake is one of the hottest demanded product is because it can fit into any type of budget. There are cakes of N1,000, N1,500, N2,000, N5,000, N10,000, N50,000, N100,000, N1,000,000 and even more. What am I saying? It can fit into the budget of any customer. This business can serve both the rich and poor.
Steps To Starting A Cake Making Business In Nigeria
Trust me when I say you can’t start this business without any form of training. In fact, this is your selling edge and if you get it wrong, you’re doomed. I remember the last cake I ordered, there’s no difference between a stone and the cake. Guess what? I paid the producer and left the cake there.
Why would I patronize her again? But if you’re so good in what you do, getting customers will not be a hurdle because customers will automatically become advert agents.
Cake comes in various designs, colors, shapes and tastes. You need to enroll in any catering school, cake making program or skill acquisition center to know the basics. If you acquire the basic skills, if your foundation is strong, you will be able to make any type of cake. The only restriction will be your imagination.
2. Capital Needed
Like I already said, this cake making business doesn’t require millions of funds. With N100,000, you can start this business and realize your money within a month. For those who don’t know where to begin in getting such amount of money, start by saving every little money you get.
Another option will be to solicit for help from families and friends. They will be more than willing to help your dream provided you’re trustworthy and ready to pay back within a specific time.
3. Equipement and Ingredients
Most of the most important equipment you need is an oven. It could be electric or not. You also need a baking pan and boards for baking. Vegetable oil, Flour, salt, baking powder and butter etc.
If you had undergone training, you will know by now that the kind of ingredients you need depends on the cake you want to make. There are cakes like cream cake, chocolate cake, fruit cake etc.
Before you start this cake making business, go on a market research and find out the prices of most of the things you need. If you know anyone who is also into this cake production business, get to him or her and learn more about this business. There’s no harm in learning from the gurus.
4. Catchy Business Name
You need a business name that is very catchy, unique, appealing and memorable. Names like Fruits & Creams, Awesome Cake, Chi Cakes etc. Why your cake business name needs to be very good is because it is the bedrock of brand building.
A good business name makes branding easier and cool. As time goes in this business, you next step will be to register the business name with the CAC to avoid getting your business name registered by another person.
5. Good Sales Location
Why I love cake making business so much is because you can start from home. However, as the business grows, you will be pushed to get a place where you sale directly to customers or clients. Make sure the location approximates to your target market like churches, event centers, homes etc.
6. Unique Selling Point
The success of your business is tied to how unique your cake is compared to other cakes in the market. Do you know the reason Coke is at the top? That is because they have a taste that no beverages company in the world has.
Discover your unique selling point and you will find yourself soaring higher than you have ever imagined.
In cake making business, you need as many hands as possible, especially when you start getting numerous orders that you might satisfy alone. By hiring more hands, you set the pace for growth and more money because productivity will skyrocket.
Video On How to Bake Cake
Marketing and Advertisement in Cake Making Business
The only way to get discovered and get patronage is by making sure your marketing and awareness plan is top notch.
At the initial stage of this business, marketing is the backbone and you need to work like never before to make sure you are able to sale. Below are ways you can harnessed into making more money from your small business.
1. Social Media marketing
Social media is the order of the day and many big and small businesses don’t joke with it. Almost all the social media platforms have a feature where advertisers can place an advert for their product for a little token. One of the most popular is Facebook ad, twitter, Instagram etc. To get tons of order and build a customer base for your cake production business, then utilize social media.
2. Forums and Blogs
Nairaland is one of the first source of marketing for most businesses in Nigeria. This is because of the large community and engagement. There are also numerous popular business blogs where you can place adverts like o3techy, Mynaijanaira, startuptisdaily, Nextnaijaentrepreneur etc.
3. Online Store
You can decide to open an online store for your cake making business, thereby making your business online 24/7. This will require you set up a courier service, a means by which you deliver your product to your customers.
You can also open a store with major eCommerce store like Jumia and make a sale. Although you need to be in the city where Jumia operates so that you can easily get the cake to their warehouse for easy delivery.
5. Other forms of Advert
You can print fliers, posters, complimentary cards, newspaper ads, television and radio ads and numerous others. With a lot of awareness, you will find your cake making business booming.
Cake making business is very profitable. With a good business plan, finance and marketing strategy, you will be able to make a lot of money from this business every day. Because of how high demand is, you will end up becoming a millionaire who the nation looks up to as a success in entrepreneurship.
That’s the much we can take on the topic “How To Start A Cake Business In Nigeria “.
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