When you consider how many different types of businesses there are, it can be mind boggling. But the truth is, many businesses are run purely for profit and aren’t much fun for the owner. For the would-be entrepreneur, it makes sense to discover what type of business will really get you out of bed in the morning. If you love to bake and enjoy serving the public, buying a baked goods business may be a great idea.
In a recent to the report, the global bakery market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 7.04% between 2014 and 2019. There is an increase in demand for gluten-free products as well as organic products.
Fifty percent of industry volume is from baked breads, mainly white, wheat and rye; 20 percent from rolls, buns, muffins, bagels and croissants; 11 percent from soft cakes; and the rest from pies, pastries, doughnuts and a variety of sweet goods. Annual U.S. per capita consumption of bread is close to 60 pounds.
Before you buy a bakery, and start “rolling in dough”, there are a few things you should know about what makes a baking business unique.