You Need to Start Small

Kara wants to open a bakery. She doesn’t want to go into debt to do it. How does she do it? Dave says the first step is figuring out how much it will cost to open it.

QUESTION: Kara in Oklahoma City wants to open a bakery. She doesn’t want to go into debt to do it. Her county doesn’t allow her to start it from home, though. How do they open it when they don’t want to go into debt to do it? Dave says the first step is figuring out how much it will cost to open it.

ANSWER: The one thing I’ve learned about restaurant type stuff is you can buy the equipment for almost nothing if you’ll watch and buy it used and don’t buy everything you need at the start. If your husband is not willing to put some of your money into the business, then you don’t need to start the business, because he doesn’t really want you to open it.

You don’t need to buy a building; that would be the worst thing you could do. You need to rent a little hole in the wall somewhere. A bakery doesn’t have to be a primo location—if you’re doing deliveries out of it. People will come to you if you’ve got a reputation. Go rent a little hole in the wall, buy some used stuff, spend $10,000, and get this thing opened. Another thing you can do is go back and talk to the municipality; they may be okay with allowing you to run the business out of your home, but get that in writing.

Crawl before you walk. That’s how I would do it.