Has anyone started a successful business from scratch?

[beckyweckyy]

I've saved some money and I would love to start a satellite bakery. I've done some markets with success, but they take a up a lot of time and I'm not able to do it with my full time job.

I really want to open up my own shop. My job is stressful and the environment is terrible. The working hours are stressful, and we often have to play catch up after hours. My speciality is very niche, and even moving onto a new job will most likely not be any better. I have friends who work in similar jobs. If I do stay in my job and on my career path, I will have a stable job to retire from.

I'm just wondering if I should just 'go for it'? I'm 35.

I could also use my savings to do some further certification in my field. This would help my career progression. I'm starting to hate it. Its what people would think of as a prestigious job, which is the main reason why I stay. It gives me a sense of accomplishment. I've already spent so much time working my way up. I just really do not like it. Ugh, please help

I've got a few small businesses. It is a lot of work. Do as much research as you can before spending any money. Most important thing for me is to really understand my customer and exactly what I offer them.

Hi doadeer. Did you take risks starting up?

I have three which were all quite low risk. The largest one is a fitness type business we started in small premises and grew gradually. Most basic website to start etc, tried to keep costs down. It can spiral. Learn as much about marketing as you can as getting people to your business is one of the most crucial bits.

thanks

I'd have reservations about a bakery. In a recession that is the sort of business that will be hit.

Only you can do the research to find out if its viable. I did loads for my business before investing.

How much are premises, insurance, basic ingredients, utilities and overheads? How much do you need to earn as a minimum

How much bread do you need to sell to make this? Can you make that much on your own? Will you even be able to sell that much.

I would even sit outside established bakeries and see how many people are walking in - just to see if they are making a profit or not.

How can you make your products more appealing? What will you do if you are unwell or need to take time off ie holiday

If you think this all works out - go for it!

Start small and don't spend loads of money setting it up. Tbh right now, unless you're offering something very different, I think a bakery would really struggle.

I think before I did anything as financially risky is to work for a bakery. Find out how they run their business. Doing markets is one thing, opening a shop is completely different. It's a business that happens to be selling bakery foods. You need to know how to run it from the financial side first and foremost.