Bakery business in Nigeria - A step-by-step Guide

By now you would have heard about a business called bakery.

I called it sales rocket business because it is.

I completely found out that the business called bakery delivers Return On Investment hugely than any business out there.

The majority of businesses out there are good but not a good fit most times.

Because they need more hands than what it can actually deliver.

Unlike poultry business where demands and consumption rates are high, that's more reason why they sell more.

Tell me which demographic doesn't consume chicken at least once a month?

Is there anyone that doesn't?

Unless for medical purposes.

In that case, it makes it even more lucrative to people doing it.

A bakery business works much in the same directory.

Although I don't mostly judge businesses based on the consumption rate, the consumption rate doesn't really equate to profit.

In most cases, your bakery business KPIs is what determines your achievement towards your goal.

For example, if your bakery business demands more responses to consumers and it lacks that then you would likely be forced to recruit more staff.

Mostly when your customers keep complaining, however, you would want to improve their customer experience.

Right?

Forcing your marketing initiatives to resonate with their interest.

Read here: Fashion Design Business - Why Your Lucrative Idea Matter In Nigeria

It means that's good enough for small businesses that haven't grow yet.

In this case, it shows consumption isn't what makes a bakery business stand out that much.

But your marketing strategy.

Mind you, You can't actually dictate that, especially when dealing with what's next.

So it's best to focus your marketing efforts toward your buyer's personas, keep them on track, and build a context for them.

For that reason, your marketing team would realize who's a good fit for your business because not everyone would convert.

And that can't just happen overnight, it's best you know that.

So, right now, let's see how to churn out lucrative ideas that would make your bakery business grow in sales in Nigeria.

So, here's how to start a lucrative bakery business in Nigeria

1. Build your bakery business on context
2. Build on a precision
3. Adjust your marketing strategy
4. Initiate swot analysis for your bakery business
5. Know how to sell out

1. Build your bakery business on context

Buyers are unpredictable, you can't predict them next whether they react as detractors or promoters.

A big knock is that it's hard to figure out what's working and what's not even with a series of experiments, touchpoints, and segmentations that might not still do much.

A bakery business is about strategy, finding new benchmarks and trends.

More importantly, embracing opportunities.

A big show is the consumption rate of the consumers because it's mostly shifted. New trends emanate each day, different kind of recipes are shown.

And what makes bakers so unique is their innovation.

Innovation brings connections that means you don't have to follow the trends but innovate the trends.

A lot of bakers haven't yet understood the tempo of doing a bakery business. If you're not so creative in this niche there's much trouble in converting leads into sales.

Not even that, getting leads intent would be so hard as well.

In this case, it's best you know who you're about targeting.

For example, let's say your bakery business is so much about bread baking that means your target audience is that people that love consuming loaves of bread.

In a nutshell, no demographic is been left out because everyone consumes loaves of bread almost every day.

Maybe let's exclude 0-2 years old baby.

So for everyone above 4 years, they're likely to consume loaves of bread this way they're your target audience.

Fine, you know who they're but how would you convert them to buy more?

In this case, you're trying to build on a context for your bakery business.

A context means your target audience. They're the people your business wants for partnership.

Mind you, you're working on clients, not people.

I mean clients that would render your services to people to consume.

After all, how would you love to align your marketing plan right?

For that reason, here's the free bakery business plan in Nigeria.

1. Set a brand tone
2. Offer incentives
3. Initiate a good unique selling point
4. Identify what client fit into your business KPIs
5. Align your marketing with your bakery business goals.
6. Build on credibility and trust
7. Offer a good customer experience
8. Encourage word of mouth
9. Hack on conversational tactics to discover new trends and benchmarks
10. Use social listening to find new opportunities

So the moment you have realized it's time to get clients for your bakery business.

First, don't just go too fast, try to study the behavior of the trends and make sure to hack on existing business marketing tactics.

Study what your competitors are doing use that to set your SMART goals. Initiate such a method and try to find possible means to improve each product for conversion.

For example, if a bakery brand A uses conversational tactics for social listening into what consumers want while bakery B uses multiple touchpoints, surveys, and questionnaires to get the needs of the consumers.

This way, you can act as the middle man leveraging some of their marketing tactics plus adding your own initiative for wider reach.

Take a look at this:

Read here: How To Start A Business That Drives Online Sales In Nigeria 

To me, I won't longer use questionnaires and surveys anymore. What I'll focus more on is a one-to-one marketing tactic.

This way, you're trying to figure out what's working and what's not trying to build a lasting relationship with your audience and that matters.

They're the ones to tell you what you're not getting right not your marketing teams. Ask them a lot about your business and what do they want to see next.

Customers are so good at showering a brand with word of mouth if only when they've got a great customer experience.

Plus when you add a lot of value because people don't remember what you do but always remember how you solve their needs.

If your bakery product can be of quality and affordable then people are likely to recommend it to their loved ones.

2. Build on a precision

Your bakery business needs an identity because that's your value. 

For every bakery business out there identity is what differentiates everyone.

Identity speaks more about what you do and why you're doing it.

So if you ain't getting the precision right from the onset then you can't get it right any moment soon.

That's why it's best you strategize more on how to get prospects for leads and into sales.

Well, that can be so hard at first but not really too hard.

The big win is that try to align your precision for every buyer's personas.

So, how would you go about that?

• Build a bakery business logo
• Do a business flyer
• Include your business location
• Add call-to-action
• Include a website if have any
• Have a unique brand color

So whenever you sell out your bakery business product after being used someone else might pick up your brand flyer and call.

If only such a product adds that value taste.

That way, your bakery business generates more leads.

It might be a cake or fish pie baking business but try to package it and fix your business flyer in it.

Because that marketing strategy can fetch your business more leads intent.

3. Adjust your marketing strategy

Your purpose why you're into the bakery business is to generate more leads and sales.

Right?

That way, your marketing team should identify who's a good fit for your bakery business.

This time, it's no longer about targeting randomly, but targeting who's ready for purchase intent.

So here's where your ideal customer profile comes in.

Let's say your business goal is to target demographics above 15 years.

Then targeting secondary schools isn't a good fit at all.

Read here: Tailoring business - how to skyrocket your sales

That way, you think of targeting clients in universities, offices, and maybe jamb tutorial centers.

Depending on your business strategy.

So for whatever reason, there's no sense targeting people who aren't a good fit. But targeting demographics above 15 years would take much inbound effort acquiring them for leads.

Your marketing team really needs to do more than enough.

In that case, it's best they hack on these strategies.

• Initiate a unique brand story
• Tell them why they should buy not what you do
• Show that samples
• Make reviews of your happy customers
• Share your portfolio across
• Build them for sales enablement
• Hack on their needs
• Work with time
• Create a workflow and make it timely
• Target them at the right time
• Build on customer relationship management
• Create a content strategy

If at all everything above is well-planned then your marketing team would do much converting those leads into qualified leads intent.

4. SWOT analysis for bakery 

Here's the SWOT analysis for a bakery business in Nigeria

Strength

1. Best customer experience
2. An adequate unique selling point
3. Best location strategy
4. Best conversational tactics
5. Proven track project and management
6. Customer choice
7. Price and cost advantage
8. Best marketing and sales team

Weakness

1. Inability to resonate with the audience's interest
2. Poor track record
3. Poor content marketing
4. Inability to see new trends 
5. Lack of managerial talent
6. Inability to discover new benchmarks
7. Poor customer experience
8. Poor marketing and sales initiative

Opportunities

1. Hack on new market trends
2. Using social listening to meet customer needs
3. Using content marketing to drive leads intent
4. Innovating new trends

Threats

1. More competitors grow
2. Customers acting as detractors
3. Adverse demographic change
4. Lack of conversational strategy
5. Change in customer behavior
6. Failed unity between in-house staff
7. Inability to  compete with new discoveries and trends

5. Know how to sell out

When you're about starting out it's best to know about the ingredients to use.

So, here's the bakery or baking business ingredients in Nigeria

1. Baking soda
2. Baking powder
3. Cornstarch
4. Egg
5. Salt 
6. Milk
7. Sugar
8. Flour

So for the cost and price of bakery equipment in Nigeria

1. Deck mixer - 950,000 - 1,000,000
2. Traveling oven - 300,000 - 900,000
3. Rotary oven - 4,500,000 - 5,000,000
4. Bread slicers - 130,000 - 200,000
5. Dough divider - 430,000 - 460,000
6. Water chiller - 550,000 - 700,000

So they're other pieces of equipment you can browse around for in order to remain relevant in the industry.

Conclusion

Is bakery business profitable and lucrative in Nigeria?

Yes, it is. a bakery business is so lucrative and profitable in Nigeria if only there's a means you know how to convert qualified leads into sales.

So, over to you, how do you want to start a bakery business in Nigeria?

I'm Destined boy, a certified digital and inbound marketer.

You can follow me up on twitter.

Follow @Blogdestined