BAKING MYTHS | BUSINESS ADVISE
I think this is probably the most common question I’m asked!!!
There is a baker who’s just started up down the road from me?
Eventually you will see over time that competition is good. As long as they are not completely copying your designs and claiming as their own, all is good! You may even become good friends, you can bounce off of each other. I have so many bakers around me (so many) but I don’t see them as competition..
Take England for example! The population is 68 million! Now I can’t bake for 68 million customers. There is enough work for everyone, even if so and so up the road is doing potentially the same work as you customers will choose who they want to use.
They are so much cheaper than I am! Should I reduce my prices?
Absolutely not! The chances are if they are stupidly cheap then they aren’t making any money what so ever. To run a successful business you have to be confident in your pricing and stick to it.. don’t get sucked into customers asking for discount because they want multiples.
Are you putting any less quality into your work? No, so why should they get it cheaper. What you are offering is a bespoke and very unique product and so your prices should reflect that.
All of the bakers around me offer different products than I do, so we all offer something different. I don’t make big cakes so as soon as a customer contacts me and wants only a big cake then I immediately send them to the baker that’s up the road from me. I want her to do well too.
So try and stop seeing other bakers as a threat, embrace it and work harder.
Also healthy competition is good it makes you up your game all the time. Keeps you on your toes and lets face it we are need a little shove every now and then. We all can get quite complacent about what we do… don’t rest on your laurels and look at ways to improve your business at all times.
Good things come to good people!
Lots of love