When it comes to running your own small bakery, you might be wondering whether you will be able to maintain the running of your home and pay your expenses with the salary you’ll receive. The earnings you’ll get depend on a whole range of things, from the experience you have as a baker to the scale of the business you’re hoping to run. It’s also important to know that the income you have as a small business owner can change month to month depending on the amount of business you have.
Bakeries tend to receive a surge in business throughout the holiday and wedding seasons, and the best bakeries will pull in a huge amount of business from smaller, local and catered events. The only problem here is that these fluctuations can make even the best bakeries vulnerable. Bakery brands or owners tend to be able to take a salary of around $32,000 per year, and as this is the median annual salary, the amount could be more and could be less. The top tier bakers out there earn around $57,000 and those who are starting out may think about the fact that their starting salary can be in the range of $18,000.
There isn’t much information out there for bakery owner incomes, and that’s because the salary ranges depend on what the products are, how much the rental costs of the premises are and how much is budgeted for bills and other financials. The general manager of a bakery would usually earn less than the supervisor in the bakery, and this is a diversion from common business trends that usually general managers earn more. Choosing to be a part of some of the best bakeries in the world as a franchisee is a good idea, but if you want to strike out on your own, you’re going to find that your earnings in self-employment aren’t always reliable. The good news is that the more you improve your technical skills, the better salary prospects you have ahead of you!
To work out what your bakery earnings are, you have to take the entirety of your small business earnings and subtract the gross revenue and all of the monthly operating expenses to get what’s left. It also depends on the structure of your bakery business as to how much of the profits you get from it. You want to be able to cover your salary without compromising and if your bakery is effectively run, you might find that you have enough money left over to increase your profit margin and owner earnings.
Understanding how much you could make will help you to decide what your unique selling point of your bakery will be. You can earn more the more niche your bakery is, and you can earn more selling event cakes over smaller pastries. No matter what, you will have a high earning potential if you know how to run your bakery well. The right salary will be for the taking.