If your child loves to bake, turning that passion into a business is an exciting and profitable way for them to make money. It can also teach them some real life business skills, such as advertising, customer service, and financial management.
To get started, discuss with your child how they want to market their baked goods. This could include local farmers markets, events, or even online. They should then decide what they would like to sell and come up with a price per item for their customers. It is important to determine the amount of capital they will need to invest and how much equipment they will need to purchase. They should then create a long-term business plan with their parents to set goals for the future.
When your kid is ready to begin, they can start by selling their products within their residential community. They can distribute flyers or place a small sign in their yard that identifies them as the owners of the bakery. This marketing strategy can help them to quickly build a customer base.
Once they have established a reputation for quality baked goods, they can start expanding their business. They can find catering jobs for weddings, baby and bridal showers, birthday parties and other special events. If they have a website, they can also promote their baked goods on there as well as social media platforms like Twitter and Instagram. They should remember to always provide prompt service and only deliver freshly baked goods.