Not much unlike life, bakery business is all about mixing and matching of the available resources, which in bakeries include ingredients, equipments, manpower, technology and innovative zeal among others, and if these resources are directed in the right manner, they can foster the growth and profits for the entrepreneurs engaged in bakery business, and also bring a slew of new products in to the market to match the continually evolving and discerning consumer preferences.
If one goes on asking the very clichéd question 'what inspired you the most to get into the bakery business?' to the individuals running bakeries throughout the country, the responses received would vary from person to person, from competition to competition.
Delving into the bakery business with profit in mind, the prospect of producing good output with fewer inputs, encouraged very low possibility of incurring long-term losses in bakery business in India. It is because of high demand for bakery products in today's times and the fact that the sales. of bakery products are not hugely affected by economic factors are aspects which encourage individuals or companies to foray into this business.
If for some it is the profitability factor that attracts them towards this line of business for others, it was just the sheer love for baking that enthused them to open and establish their outlets. However, of course they wouldn't mind the profits too.
Growth Factors Like the way 4 Ps - Product, Place, Price and Promotion define the marketing of any business enterprise, in a similar manner there is a four ' factor that believe to be crucial in the bakery business. The four Is' are Investment, Insights, Individuality, and Innovation.
This story is from the October - November 2023 edition of Bakery Review.
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This story is from the October - November 2023 edition of Bakery Review.
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