The fast-food restaurant industry has experienced an average growth of 0.1% over the last five years. The industry may experience major growth as the Texas population increases, which will then increase the market of potential customers.
A good thing about opening a business in Texas is there is no personal income tax nor corporate income tax. This factor is appealing to a lot of business owners. Some great locations to open a bakery in Texas would be Dallas, San Antonio, and Austin.
Looking at the Bakery Industry: its average growth in the United States over the past five years has been 1.9%. The market for baked goods is expected to continue to grow. Bakery products make up 2.1% of the gross domestic product of the United States.
Accommodation and Food Services have the second-highest employment amount, right below Retail Trade. Texas has a population of 28,995,881 with a growth rate of 1.5%. The state has 711,261 businesses with an average growth rate of 2.7%. Construction trends are an indicator of the health of Texas’ economy and the construction industry has a steady growth.
All great businesses start with good ideas.
The term “Bakery” is an umbrella term for the industry. There are numerous business ideas that can get your bakery started in a unique and innovative way.
You next will need to explore what type of bakery you would like to open. An idea regarding this would be a bakery food truck rather than a storefront. You could also be an online bakery. The first step in exploring business ideas when opening a bakery is what type of bakery you want to open.
Your options are:
You want your bakery to be unique and appealing. If you’re opening a retail bakery, you can start by deciding what cuisine will be your specialty. Your bakery could be a French bakery, or Italian, or Russian.
It does not matter so much what you decide on, as long as you make sure your baked goods are delicious and fresh.
One of the best ways to get brilliant business ideas is to review my lists of business ideas categorized for your situation, such as small-town business ideas or home-based – many of which are related to the baking and food trade.
Another way to find your next business idea is to experiment with my fun tool – Business Idea Generator. Click the button, and some concepts for product, service or side hustle businesses will be generated.
How to Name Your Business so Customers Remember Your Brand
A company’s name is one of the most important parts of a business but picking out an appropriate and catchy company name can be tough. Here are my best tips for coming up with names that will stick in people’s minds!
The words and phrases that your prospective customers type into internet search engines to find companies like yours. Add other towns, states, and countries to your search to find similar firms, outside of your marketing area for inspiration.
Don’t use another firm’s exact name, just use those names to brainstorm your own unique brand name.
It can be difficult to think up a catchy name for your brand-new business venture. Here are my best tips on coming up with company names that will get people talking about how amazing your products are:
Take that list of keywords and you created using my tips above and then play around until you find that perfect new startup name.
Combine Two Words – Blend real names of two or more owners into an interesting compound business name. Learn the many ways to combine names in my article here.
Acronyms – An acronym is different from a name made up of initials and creates a new word. An example of an acronym name is LEGO (short for Leg Godt – danish for “play well”) pronounced as one word.
Use this online tool to brainstorm some creative acronym business names.
Wordplay and Puns – Puns are jokes that exploit the different meanings of words – a play on words. They can make funny and catchy business names.
Some examples of business name puns; Cake my Day, Live Free or Pie, and Food Mood. Have fun and get business name inspiration with this free Pun Generator tool.
Enter your desired LLC name
Company registration only takes 5-10 minutes
Are you opening a new bakery and need cute bakery name ideas? Well then, check out my big list of hundreds of catchy bakery names complete with inspiring logo examples to name your baking business.
Get inspired by this ultimate list of memorable bakery names that is filled with hundreds of creative, cute, unique, edgy, funny, and cute bakehouse name ideas!
Now selecting a good bakery company name is a piece of cake! Sweet!
Examples of great bakery names
You’re Sweet As Pie
Flourishes Custom Cakes
Pound Your Dough
Sugary Sweet Bakery
Spiraling Caramel Dessert Shop
Biscuit’s Corner Homestyle Baked Goods
The best way to research the marketplace is by taking a trip to some of the most popular bakeries in the state, or in the area, you are looking to open your bakery. Here is a guide to 19 of people’s favorite bakeries in the state of Texas.
Go visit each Texan bakery and test out their products, see what they are offering their customers. You can even ask to speak with the owner and get some tips from them because they were, after all, in your exact position at one point.
Another way to do some marketplace research is by testing your baked goods on consumers. You can do this by selling some of your goods at a farmer’s market. Check out this site for some farmer’s markets you could try getting a table at. For more ways to test your bakery business idea, check out this article.
Learn if the Market Needs & Wants Your New Product or Service
Now that you have researched your idea, it is till to test its viability to be confident of its profitability before investing your time and money to launch your company.
The best way to test your bakery products would be to showcase them at a local farmer’s market or something of that nature. Find a place where you can gain access to a clientele that will be like what you are anticipating with your bakery. See how the people respond to your baked goods because the goods are, after all, what can make you a success.
As a serial entrepreneur, I have done lots of business idea testing. Some ideas passed many failed. But I am sure glad I tested thoroughly first before losing money and, perhaps more importantly, entrepreneur confidence. Below are a few of the ways I test products. Get the full list of my ten best ways to field test your business ideas here.
No doubt you’ve heard the old saying of one of my favorite guys Winston Churchill, “if you don’t plan – you are planning to fail.”
Nowhere is this truer than when starting a business.
You, like most entrepreneurs, are excited and want to start right away without taking any time for business planning – THIS is a major mistake.
Spare yourself the substantial loss of money, time, and much heartache by taking the time to write a business plan.
Once you’ve determined what kind of bakery you want to open, you must start developing a business plan. This will establish your goals, it will help you discover ways to generate revenue, list expenses, marketing strategies, and it will allow you to take a more in-depth look at your client-base and competition.
The next step in opening a bakery after doing some research and deciding what type of bakery you want to open is developing your business plan. A business plan is one of the first things you should make sure you do as it lays out the type of business you want, the structure of the business, the products you’re going to sell, marketing strategies, and financial projections. The nine necessary components of a business plan are:
For more information on these components, visit University of Texas Libraries.
The importance of writing the plan is not wholly the finished document but the discoveries of missing elements in your business concept you find as you prepare your business plan.
During the process of writing your business plan, you will uncover aspects of your business strategy that will not work. Better that you discover these weaknesses on paper – now – then adjust your business model accordingly- than to encounter these problems in the field costing time, money, and possibility your company survival.
Many first-time entrepreneurs think that the business plan must be some sort of substantial financial novel that is given to the bank in the application for a business loan. While that is one type of business plan, the more important kind of business plan is one that the entrepreneur writes for themselves. This plan documents the business summary, target markets, marketing strategies.
Think of it as a map for your entrepreneurial journey. You would not set out on a long hike across unknown territory without a field guide and a detailed map.
So don’t dive into a new business and spend money, time, and emotional energy without a map.
Read my review of business plan software and learn about some great free options here
This is the final stage where you will calculate important financial projections to determine if your business idea is profitable, the amount of capital you will need for startup costs, and ongoing working capital funding.
The first step in assessing your financials is to establish your startup cost. For the startup cost, you will have to figure out Everything you will need, from the larger things like the oven and refrigerator to the smaller items like spoons and spatulas, as well as expenses for the space and ingredients. Check out the US Small Business Administration site for a breakdown of all necessary steps to calculate startup costs, as well as resources and free business counseling.
Begin your financial planning by determining your best pricing. Pricing your product and service is a bit of art and science. There are multiple ways to determine your best price, cost plus, and market demand & supply.
There are different methods to calculate your prices for your new startup business based on multiple factors such as market demand, competitive prices, and costs expenses.
Most bakers base the pricing of their goods on the cost of ingredients and the time and labor that went into baking the goods. In order to start the process of determining prices, take a look at what the break-even point would be for your business. Figure out what you would have to charge in order to achieve that break-even point. Then take a look at these four costs:
Once you’ve calculated these costs, you will start to get an idea of what your pricing can be. Then you take a look at the market, and then you can determine an idea of what your pricing should be.
In order to determine a good and accurate pricing structure, determine what your break-even point would be for your bakery.
For more information on the break-even point, check out the US Small Business Administration’s Break-even point calculator. Once you’ve determined how much you would need to charge to break even, consider these other factors:
After taking a look at all these factors, you will start to be able to establish your pricing structure in the best way that will benefit you and your business.
These are the most often used pricing strategies for small businesses, with recommendations for which methods fit different types of companies.
This method is when you price your product higher than your competitors. This technique is often used at product launches to create a high-value perception in your customer’s minds.
Market Penetration Pricing
This concept is to gain buyers by offering the lowest prices on goods and services to enter a crowded marketplace. It is common for entrepreneurs to use this technique initially. If not planned and executed carefully, this is the most dangerous type of pricing strategy for your bottom line and business survival.
By utilizing the power of people’s emotions to buy is the key to success with this pricing strategy. Many consumers consider the price of a particular item a major purchasing factor. Use this to your advantage by reducing your cost a little and changing your buyer’s minds a lot. You have all seen the $199 specials, which are only $1 less than two hundred but seem to be a better bargain.
Read my full article about how to best price your products and services here.
The first step in assessing your financials is to calculate your startup cost. This will help you estimate profits, secure loans, and save money with tax deductions.
For the startup cost, you will have to determine everything you will need, from the larger things like the storage space and oven to the smaller things like measuring cups and cake tins, as well as expenses for ingredients.
Check out the US Small Business Administration site for a breakdown of all necessary steps to calculate startup costs, as well as resources and free business counseling.
Two Types of Startup Costs – Set-up and Operational
First, you need to know that there are two distinct types of costs, those you will incur as you set up your company (Set up Costs or Startup Costs) and those that will continue to be expensed as you operate (Operational Costs, Expenses, and Working Capital).
Read more about bakery startup costs here (and how to save money)
One time investment to open your store or launch your website includes such items as legal business formation, building renovations, and manufacturing equipment.
These are easier to calculate. You will research each item and simply add up the list for your total set up costs.
Ongoing expenses to continue business operations, including rent, supplies, employee salaries – and most importantly, working capital. These costs are more difficult to calculate because they have many more variables. As your sales increase, so will your labor and material, and inventory needs.
Please read my article about how to calculate your startup and operational costs here correctly.
Forecast Sales & Expenses
The next step is to forecast your sales and expenses and generate a business budget.
I have a that I say that is funny but also true. I tell all new entrepreneurs to take their financial projections and cut their sales in half, and double their expenses.
Then, if the numbers show that they will make money, they should go forward to launch their business. Certainly, simplistic, but it illustrates that most entrepreneurs overestimate their sales and underestimate their expenses to their own detriment.
Here is the right way to create a business budget.
Define Working Capital Requirements
From one entrepreneur to another, you need to get wise about working capital today if you plan to keep your business doors open. Because the #1 reason for business failure is lack of working capital, please don’t become a business failure statistic.
Working capital refers to the funds that help you meet the daily expenses and needs of running your business, such as payroll or paying for software, tools, and supplies.
From a business management perspective, here’s all that you need to know about working capital in my article about what it is, the amount you need, how to manage it like a pro, and if you are short on working capital, how to either get financing and how to reduce your working capital needs without a loan.
Now that you have a great business idea, you will need money to get started in your new venture. While there are some businesses that you can start with almost no money, some are even free.
Starting any business will require a certain amount of funds. You’ve got a business plan, forecasted sales, and expenses. Now you just need the capital to get yourself and your business moving.
There are plenty of ways to fund your Texas business including personal savings, investors, and loans. Here are some resources to help you fund your business in Texas:
The US Small Business Administration has a guide to funding your business here.
Most startups require some form of a business loan or capital investment. Now that you have written your business plan (see my how-to advice in the prior section), forecasted sales, expenses, and working capital, you know the amount of money you need to launch. Here’s how to fund your business
Here are some excellent ways to fund your startup launch. Get my full list of 17 Proven Sources For Startup Capital
TIP: If you need to finance your small business, consider the top recommendation for small business startup loans – Kabbage.com. Read my review of Kabbage loans with verified customer reviews and experience
CAUTION: Surely, you have heard of many businesses that got started using your credit cards as a primary form of financing. While this can be done, we recommend that you read this article and heed our warnings about financing your business startup on your credit cards.
In order to accept customer payments, cash, checks, or credit cards, your business will require a separate bank account from your personal or family bank accounts.
Please do not make the beginner entrepreneur run your business through your personal account. You will be making it harder on yourself since it will be tougher to manage transactions, reconcile checking accounts and prepare your tax returns.
All small business experts and the Internal Revenue Service recommend the separation of business and personal bank accounts. By opening a business account, you make this possible. Read my article about how to open your new business bank account here
Additionally, having a business bank account is a vital credibility factor to make your business idea a legit company and not just a dream. Also, for corporations, LLC’s and so forth, a separate and individual bank account will be necessary.
Depending on the bank and type of account required, several business days may be needed to get things set up, so don’t wait until the last minute to get things set up.
Whether you’re starting a sole proprietorship or an LLC, having the proper accounting set-up is essential. It is far better to have your bookkeeping established right from the start rather than find out down the road that you’ve done things wrong and now owe money to the IRS.
I learned this the hard way in one of my early ventures. Start bookkeeping with your second dollar – the first dollar you put in a frame over the door or on your desk 😊
Depending on the particular business formation type you have chosen, there may be reporting requirements for the accounting, especially payroll and taxes, that require regular and ongoing attention. Consult the IRS for your tax payment and reporting schedule.
I recommend the easy to use but flexible enough for growing companies, software Freshbooks. From sending email invoices, accepting credit cards, and tracking expenses, it simple, effective, and affordable. Check out the discount sale here.
A critical factor in the success of your business is location. Be picky when shopping around for your space.
Choosing the right location for your firm is one of the most important decisions you will make at the onset of your business launch.
Take your time and do your homework of research and planning before committing to a lease on retail, restaurant, or office space. Study the demographics of the area and surrounding towns, your competition nearby, and much more.
If you are choosing to be an online bakery, decide whether you want to bake from inside your home, or there are plenty of commercial kitchens you can easily rent.
If you chose to be a bakery food truck, take the time to research locations where you can and will be able to go for prime sales. If you are shopping around for a conventional space, compare the pricing of spaces, talk with surrounding businesses to determine your competition, or just to see how companies do in the area. Study the demographics of the town and the surrounding area.
Here are some questions to consider when starting to shop for your bakery space:
Assuming you are not starting the bakery as a home-based bakery, or food truck, you will need to find the right space for your bakery. Here are some major points to consider when searching for the best location for your business:
For any information regarding location, you can find the local Texas Small Business Development Center (SBDC) here.
My related resources:
How to Name Your Business, so Customers Remember Your Brand
It can be challenging to think up a catchy name for your new company. I am here to help you with my best tips for coming up with company names that are memorable:
First, Make a List of Keywords
The words and phrases that your prospective customers type into internet search engines to find companies like yours. Add other towns, states, and countries to your search to find similar firms outside of your marketing area for inspiration.
Don’t use another firm’s exact name; just use those names to brainstorm your own unique brand name.
Naming Tips: How to Come Up with a Catchy Business Name
Then Play with Words for a Great Business Name
Take that list of words, and you created using my tips above, and then play around until you find that perfect new startup name. Read about the 24 best ways to play with words to come up with your own catchy business name in my article here
Also, check out my article about how to combine two names – business partners – into one super company name here
Or consider trying out a business name generator from my list of the top FREE company name generators here
Plus Review List of Business Names for Inspiration
To help inspire you, I have written lists of catchy business names for lots of types of companies, such as below. Check out these unique name ideas that are not taken and available!
>>Check out my list of the best bakery name ideas here
You may already have an idea for the name of your business, but if not, then you can start by making a list of keywords to help you. These keywords can be industry-related, or they can be some words that you’ve been thinking about using in your company name.
To do a business name search in Texas to avoid any future conflict, visit this site.
Creating your brand is all about marketing. If you made a business plan like you were told to earlier, you would have already established some marketing strategies. There are plenty of ways to market your business that will require payment. Here are some ways to promote your business for free:
Online groups: sites such as Online Geniuses, Indie Hackers, Facebook groups, or even Reddit have booming communities that can provide advice and provide a space for you to gain some buzz for your business
Your business is considered an entity or an organization in the eyes of the law and government, and this means that you need to have a structure such as Sole Proprietor DBA, Corporation, LLC, a limited liability company in which you run your business.
There are a few basic options for business structures in the state of Texas. These options are:
For more information on the business structure of Texas, visit the Secretary of State site.
Learn more in my guide: How to Start Your Small Business Legally – Important Legal Requirements
You will want to determine the best legal structure for your new startup business, such as Sole Proprietorship, partnerships, corporations, or trusts.
Some businesses should incorporate, most notably those seeking venture capital and manufacturers, and some should not, such as small one-person companies, often referred to as solopreneurs, and those with low startup budgets and do not deal in products or services that could be dangerous to your customers.
Learn more about which is the best legal structure entity for your new business in my article here
>>Check out my list of the best bakery name ideas here
Every business owner must register their business in the state of Texas. There are a number of forms that must be filed.
This link will bring you to the Texas Business and Nonprofit Forms page where you will find the form you need to fill out and file in order to register your business.
For DBA’s, you have to file with the county clerk. You can apply online here.
There are permits and licenses that will be required for your business. Here is a list of all possible permits and licenses you may need. You can also find more information in the Business Permits Office Handbook.
To register your business with federal agencies, state agencies, and local agencies, visit this Business Guide.
When you’ve got the name and business type you want to start, determining the best form of business structure is the next essential step.
There are many types and variations to business structure. Depending on which kind of business you intend to run, how the day-to-day operations will be carried out, and various other factors, a particular business structure may be of more value to you than another.
Out of the USA’s possible business structure types, here are the most common five types for profit-oriented organizations. If you are interested in setting up a non-profit or not-for-profit, check out my expert tips here.
Business Formation Legal Entity Types
A sole proprietorship is the business formation most adopted by individuals. It is also the form of business that carries the most liability for the owner—a single owner, personally responsible for the Sole Proprietorship.
Like the sole proprietor, this business formation simply puts a partnered proprietorship rather than a sole proprietor. The liability is typically evenly dispersed amongst owners.
A corporation is quite a different creature from a sole proprietorship. In the United States, a corporation is a sort of virtual entity. A corporation takes on rights and abilities like a person – that’s why it uses the word “corp” as in the corporal body. The difference is that it features the ability to exist perpetually, quickly transfer interests, and provide limited liability for the corporation’s shareholders (owners).
An S Corporation differs from a regular corporation in that it chooses to pass credits, deductions, income, and losses through to the shareholders. These shareholders would add these to their income tax. It enables the business to simply pass along the numbers to the owners (shareholders) and act as intermediaries.
Read my advice about whether a corporation would be an excellent legal business entity for you linked below:
Limited Liability Company (LLC)
A popular form of business structure is the limited liability company referred to as an LLC. Each state has its regulations regarding the LLC. To clarify how it differs from the other previously mentioned business formation types, let’s start by defining the LLC.
An LLC can be thought of as a hybrid structure. It is sort of a mix between a corporation and a partnership. One might think of it as a partnership that insulates the owner’s liability to some limited degree but similar to the corporation’s structure.
Although an LLC may appear to have some extraordinary benefits, several regulations must be followed for this type of organization in Texas.
Read my advice about whether an LLC would be an excellent legal business entity for you here
If your new businesses develop new inventions, manufacturing processes, or products, you will want to protect your intellectual property with patents, trademarks, and copyrights issued by the US patent and trademark office.
Learn more in my article – What is Intellectual Property and Why it’s Important to Your Business
Brand Name Trademark Info
It is also a good idea to safeguard your business brand name with a trademark application.
In addition to setting up your legal business structure, you may (depending upon your type of business) be required to obtain special business licenses or permits.
Licensing for at-home bakeries are very different than store front or commercial baking operations.
Thanks to Farm and Ranch Freedom for the following overview of the cottage food laws for Texas. Read their full post here in PDF format.
The Texas Cottage Food Law has continued to evolve and expand since first passed in 2011, with the most sweeping revisions made by the Texas Legislature in 2019.
Prior to 2011, it was illegal to sell any food that a person prepared in a home kitchen. But that year, the Farm and Ranch Freedom Alliance (FARFA) worked to pass the first Texas Cottage Food Law, allowing people to sell a few specific low-risk foods to consumers who could only purchase the foods by traveling to the producer’s homes. The law was expanded in 2013, and now the latest revisions filed as SB 572, go into effect on September 1, 2019.
The Texas Cottage Food Law allows individuals to sell certain foods made in home kitchens, without having to get a food manufacturers’ license, use a commercial kitchen, or be subject to inspections by the state or local health departments.
The Texas Food allowed foods:
Visit TexasCottageFoodLaw.com for more information.
The health permit is a legal requirement for all food establishments in order to serve the public with tasty tit-bits.
These permits are obtained from your respective Texas county environmental health department and these departments also conduct periodic inspections of permittees’ facilities and equipment to make sure that they are following all safety standards.
When you’re choosing a location for your business, it’s important to consult the zoning laws and get a zoning permit in most Texas counties. You can find out if your desired location is permitted in your area by talking to both the county and city planners.
The Texas Food Laws is a set of rules in the Texas Health and Safety Code that establishes food safety requirements for operators, including the hygiene, cleaning, and sanitizing of equipment and utensils, food storage, as well as janitorial facilities.
Read the FAQ page about retail food permit requirements on the Texas State Department of Health site here
The two primary taxes most new businesses must deal with are sales tax and the dreaded income tax we all know.
Taxes will depend on the type of business structure your bakery used. If you are a sole proprietor, it is not a taxable entity. Sole proprietorship and general partnership businesses have no franchise tax, while all other business structures have a minimum franchise tax of $800.
Once you’ve registered your business, you need to obtain your Employer Identification Number (EIN) which is like a social security number but for your business. It’s required for Corporations and LLCs. While it is not required for DBA’s, you will need to use your Social Security Number instead. You can apply for an EIN with the IRS here, or submit this form.
Texas State tax filings are done through the Comptroller of Public Accounts. You can find anything you need to know about registering and reporting sales tax, as well as due dates and much more here.
For businesses operating in US states, two necessary taxes need to be potentially charged to your clients.
Sales taxes are charged on most tangible products. As well, sales taxes are levied on most services.
Ready-to-eat food is typically taxable in Texas even when it is sold “to go.” Tax is not due, however, on bakery items (regardless of size, whether whole pies for example or individual portions) when they are sold without plates or eating utensils.
Read more about bakery sales tax at the Texas Restaurant Sales page here
There is no escaping two things in life: death and taxes. And so, here is the handy resource to help you figure out your new business taxes.
IRS – Business Taxes Resource
Do yourself a favor and heed the advice above regarding the two people one ought to consult before starting a business – a lawyer and an accountant.
When it comes to sole proprietorships, the taxes are relatively straightforward. With all other forms of business structure, simplicity is muddied with multiple forms and regulations.
It is easiest to budget into the business expenses to have the use and direction of a professional accountant to keep your business on track for success.
Legally, you are required to have certain federal and state licenses and permits depending upon the type of business you are founding.
All businesses must be registered with the IRS (Internal Revenue Service) in America when they file their business structure type, either DBA (sole Proprietorship), incorporation or LLC, for their tax status and filing purposes. Beyond that governmental requirement, you may need additional licenses as listed below.
PS: If you are not a US citizen, check out my special guide on how to start an American business as a foreigner here
Federal licenses are required for those businesses that sell alcohol, dealing firearms, or require federal permits listed here on the SBA website; also, those firms in agriculture, aviation, fish and wildlife, mining, maritime, nuclear energy, television, and radio broadcasting, and transportation. Get more info here about licenses and permits needed to open your business.
The only business insurance that Texas requires is Business Auto which is when a business owns a vehicle. Any and all other policies are optional for a business. However, business insurance may be a good idea to get regardless. There are a few options you can consider:
You can find all the small business insurance information here. You can also find all information on commercial insurance on the Texas Department of Insurance site.
The necessary steps to get business insurance are :
It is important to keep a record of your books. Bookkeeping will allow you to keep track of your finances and will make filing taxes much easier when that time comes around. Check out the IRS website to understand record keeping better and why it is pertinent in operating a business.
Visit the Small Business Administration site here for the different types of business insurance you can get.
Having a business bank account is a vital tool to run your business. It physically separates your business expenses from your personal accounts.
Please do not make the mistake that many beginning entrepreneurs do and run your business through your personal account.
You will be making it much harder since it will be more difficult to manage transactions, reconcile checking accounts, and prepare your tax returns when your funds are commingled – personal and business.
Top business experts and the Internal Revenue Service recommend the separation of business and personal bank accounts. By opening a business account, you make this possible.
Opening a business bank account is important for a few reasons. It is required to start spending or accepting money as a business. A business account can be opened after getting an Employer Identification Number (EIN). Opening a business account separates your personal assets from the company and will also make accounting and filing taxes easier.
Here you can find a list of some of the best Texas banks for small businesses.
You can also refer to this article for tips on where to start when opening a business bank account.
Additionally, having a business bank account is an important credibility factor to make your business idea a legit company and not just a dream.
A business account is necessary for when you start spending or accepting money as a business. You can open a business account after you’ve gotten your Employer Identification Number (EIN). Do not run your business through your personal account. It will prevent you from the ability to accept credit cards, it looks less professional, and it will end up causing more problems down the road.
Here is what you need to open a business account:
Get my best tips on how to open your business bank account and the documents you will need here
Unless the business is completely automated, personnel (employees, freelance, or subcontractors) will likely be required. After all, it’s good old-fashioned hard work that built American business. And it will continue to be the labor of people that make businesses succeed.
In the case of hiring staff, there will be certain legal considerations that must be taken into account.
Use this new hire checklist from the experts at Freshbooks
When searching for suppliers, make sure you take into account their location and their pricing. Find the pricing that works best for you, with a location that will not cost an outrageous amount to get to you. Search for the best bakery suppliers in your area.
You may want to shop around a bit to find the best equipment for your bakery. You can find a complete list of equipment needed for a bakery here. Some suggested bakery supply stores in the Texas area are:
Learn How to Establish and Build Your Business Credit – 8 Easy Steps
Branding your business involves more than just naming the company. It also involves having a logo, often a particular font, and even a slogan for your business. Also, company colors should be chosen. This package is called your branding package, and it’s essential.
Get Your Perfect Logo Design
Can you think of a major business without a logo? Bet you can’t!
That’s because major brands are built on the foundation of strong logos, the single most important visual element of branding.
Advertising comes in many forms, from billboards to a website to a storefront sign. In the good old days, there was a focus on flyers, and today it’s social media. Regardless of the method, getting your business name out is essential to growing your client base.
Defining a solid strategy for advertising and setting an advertising budget is a significant step for any business.
When new stores launch, they often have a grand opening event involving media. The same is true for restaurants and many other businesses. This must all be considered at the beginning, especially if a significant startup even cost is involved.
Learn about both the advantages and disadvantages of opening a bakery in my article – Important Pros and Cons of Starting a Bakery here
Thinking about starting a bakery? Learn how to open your own bakery with these step-by-step business guides specifically written for your US State requirements (Come back and visit again since more states are being published regularly)
How to Open Your Bakery Business in California
How to Start a Baking Business in Florida
How to Open a Bakery in Illinois: Business Startup Guide
How to Start a Bakery in New York: Step by Step Guide
How to Open Your Bakery in Texas, USA
How to Open a Bakery in Virginia: Business Startup Guide
https://sbdctexas.org/: Texas’ Small Business Development Center
https://www.ibisworld.com/united-states/economic-profiles/texas/: IBIS World State of Texas Economic Profile
https://guides.lib.utexas.edu/c.php?g=571735&p=4046547: A guide to Business Plan Structure
https://planitbusiness.com/texas/: Planit Business Texas Business Plans
https://gov.texas.gov/business/page/financing-and-capital: Texas Economic Development resources for financing and capital
https://ofn.org/cdfi-locator: Community Development Financial Institution locator
https://www.sos.state.tx.us/corp/namefilingsfaqs.shtml: Texas Secretary of State resources for naming your business
https://www.sos.state.tx.us/corp/businessstructure.shtml: Texas Secretary of State information on types of business structures
https://www.mycompanyworks.com/entity.htm: A breakdown of the types of business structures to choose from in Texas
https://www.sos.state.tx.us/corp/forms_boc.shtml: Texas Secretary of State Business and Nonprofit forms
https://www.sos.state.tx.us/corp/related.shtml: Texas Secretary of State Guides and Resources for starting a business
https://www.sos.state.tx.us/corp/sosda/index.shtml: An online business service from the Office of the Secretary of State
https://www.irs.gov/pub/irs-pdf/fss4.pdf: Application for an Employer Identification Number (EIN)
https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online: Online application for an Employer Identification Number
https://gov.texas.gov/uploads/files/business/TexasLicensesPermits.pdf: A guide to all Texas Business Licenses and Permits
https://www.webstaurantstore.com/article/107/restaurant-permits-and-licenses.html: A breakdown of all licenses and permits needed in Texas
https://comptroller.texas.gov/#skip-scroll: The Comptroller is the chief steward of the state’s finances, acting as tax collector, chief accountant, chief revenue estimator and chief treasurer for all of state government, in addition to administering a number of other programs
https://comptroller.texas.gov/taxes/sales/: All information regarding registering and reporting taxes
https://generalliabilityinsure.com/texas-small-business-insurance.html#1: Texas Small Business Insurance Policy Information
https://www.tdi.texas.gov/commercial/index.html: Texas Department of Insurance information on Commercial Insurance
https://www.nerdwallet.com/article/small-business/best-banks-for-small-business-in-texas: A list of the best banks in Texas for small businesses
https://best4businesses.com/how-to-test-your-new-business-idea/: 10 Best Ways to Field Test Your New Business Idea
https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan: US Small Business Administration guide to writing a business plan
https://www.sba.gov/business-guide/plan-your-business/calculate-your-startup-costs: US Small Business Administration guide to calculating startup costs
https://www.sba.gov/funding-programs/loans: The US Small Business Administration’s funding programs
https://www.sba.gov/breakevenpointcalculator: US Small Business Administration’s break-even calculator
https://www.mycompanyworks.com/bizidentity.htm: Explanation of a business identity
https://businessnamegenerator.com/: Free business name generator
https://best4businesses.com/how-to-open-business-bank-account/: A guide to how to open a business bank account
https://texasfarmersmarket.org/#: Where to find a local farmer’s market for you to do test your baked goods
https://www.texasmonthly.com/food/sweet-relief-your-to-go-guide-to-19-favorite-texas-bakeries/: A guide to some of Texas’ top bakeries to do some market research
https://www.startupguys.net/list-of-equipment-supplies-required-for-small-bakery-business/: Comprehensive list of equipment needed for a bakery
https://asbe.org/national-bakery-associations-and-resources/: The American Society of Baking; baking industry professionals who have joined together to provide continuing education, networking opportunities, and professional development
https://www.sbdcnet.org/small-business-research-reports/bakery-business: Small Business Development Center; Bakery Business trends, information, and free or low-cost training and professional business advice
https://www.ibisworld.com/united-states/market-research-reports/bakery-cafes-industry/: Market research report of the US Bakery Cafes Industry
https://www.foodandwine.com/travel/restaurants/best-bakeries-in-america: A comprehensive list of bakeries in the US that can be used for industry research
https://www.dnb.com/business-directory/company-information.bakery-product-manufacturing.us.texas.html?page=1: Bakery Product Manufacturing Companies In Texas for market research
https://americanbakers.org/: The American Bakers Association is the only bakery-specific national and state trade association.
https://www.acemart.com/kitchen/baking-supplies: Baking supplier in San Antonio
https://jbrosbakerysupply.com/: Baking supplier servicing Texas, Arkansas, and Oklahoma.
https://www.tbshtx.com/: Baking supplier in Houston
Thinking about starting a bakery? Learn how to open your own bakery with these step-by-step business guides specifically written for your US State requirements.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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