While running a bakery is a lucrative business, the competition is high. Bakery franchises are rapidly expanding their businesses, and newer bakeries are bursting onto the scene to compete for the consumers’ sweet tooth.
During the lockdown, several home bakers opted for a loan to start a bakery, creating a customer base that prefers homemade baked goods. Amidst such dynamic expansion in this industry, expanding your consumer base is a must to thrive.
Here are some tips to give you an edge over your competitors.
Perform an industry analysis and engage customers
Conduct an industry analysis- understand the market, size up the competition in your area, and identify your target audience.
After identifying the demand from your current and potential consumer base, you can customise your services to attract more customers. For instance, hand out samples to the walk-in customers and passersby.
Or for special events like Valentine’s Day and Mother’s Day, put flowers shaped, heart-shaped, and other striking moulds of pastries and buns on display to gain maximum footfalls. During the Christmas holidays, you can also offer special offers with trifles, cinnamon buns, pies, cookies, and other festive treats.
You can easily finance this expenditure with business loans to not disrupt your store’s budget.
Have a social media presence for your brand
Social media is an excellent avenue to get creative with marketing your bakery. You can post ‘gram-worthy photographs of professionally baked goods such as cupcakes, bread, muffins, pastries, and more. Bakery items do exceptionally well on image-based social media platforms, including Instagram, Snapchat, Pinterest, etc.
Create pages for your brand and keep them active. Plan a social media content calendar and post regularly. Seek professional help by hiring a social media strategy team. They can help you stick to a social media posting plan, encourage your customers to interact with your pages via sharing, tagging, commenting, and consistently post pictures of your goods.
Since social media is a sure-fire way to bag customers, you can use an SME loan to set up a social media marketing budget.
Additional Read: A Guide to Opening a Successful Bakery Business in India
Sell your goods online
Integrate your brand with online food delivery platforms and food aggregators to reach out to more customers. Hire more staff to keep up with the demand. But this will require funds. Instead of depleting your savings, avail of a business loan for bakery.
Make sure your brand is visible, your menu and location are constantly updated, and your products are available for home delivery on these apps.
Keep your menu up to date
Research what products are trending in the market, and put your spin on them. Nowadays, many consumers prefer healthy options, such as multi-grain bread and sugar-free desserts. Some consumers have dietary preferences such as vegan, gluten-free, dairy-free, nut-free or eggless food products. Make sure your menu includes something for everyone.
Additional Read: 10 Best Small Business Ideas for Women in Hyderabad
Need funding to implement new ideas and welcome more customers to your bakery? Tata Capital has multi-purpose business financing solutions for all. With our attractive business loan interest rates and hassle-free disbursal, getting a loan is a cakewalk. Apply today!