The Strengths of a Bakery Company
Staying competitive in the bakery industry requires knowing your company’s strengths. If you sell baked goods to various buyers, such as retailers, restaurants, hospitality services, coffee shops and grocery stores, you also need in-depth knowledge of the market. Whether you’re developing a SWOT analysis or simply want to stay on top of your business, knowing your company’s strengths is vital to producing the delicious baked goods your buyers rely on to satisfy their customers.
One of the major strengths of a bakery company is its ability to diversify its product line with little notice. This allows you to quickly change directions when your buyers need different types of baked goods to meet customer demands. Investing in a research and development team to learn what customers want gives you even more ways to successfully and quickly diversify.
While the bread and bakery product category has stayed level for years, the popularity of baked goods is increasing in stores that sell low-price products, such as discount stores, says BakingBusiness.com. This is a strength if you already sell to this market. Increasing interest in whole-grain products and fiber-heavy baked goods also suggests growth potential, a strength for bakery companies that already have entry into this market. Finding ways to up the ante on the nutritional profile of your bakery products, such as adding fiber, protein or vitamins, gives you an additional way to reach health-conscious consumers. Another area of growth is organic baked goods, since one in five shoppers buy organic products, says BakingBusiness.com.
According to an article in BakingBusiness.com, most people buy food, including baked goods, based on their emotions. This bodes well for your company, especially if you sell baked goods that people buy on impulse. On the other hand, some types of baked good purchases, such as buying bread, are not based on emotion, and instead, are considered a staple. Yet again, this is a strength for a bakery company that sells bread since the food is considered necessity, not a trendy item to buy when the urge hits.
A solid management team with expertise in running a bakery is an important asset. This is a strength because your team knows how to keep costs down so your bakery company stays profitable. Providing proper training to teach your bakers the secret baking techniques of your company and how to use kitchen equipment involved in baking bread and other bakery products is also a strength when it comes to creating consistent products.