When you start thinking about the bakery that you are desiring to open, you can probably see the way the bakery looks, the way it feels, and even the types of employees you will have, but have you considered your bakery's target market yet? A target market is the customer base that you are interested in selling to, and when determining your bakery's target market, it is always important to research who you want to serve to pinpoint their needs.
Who does your bakery want to serve?
If you have an idea about who your ideal customer is, it is important to determine whether or not could really be the customers of your bakery. To determine this ask yourself the following:
- What is the age, socioeconomic level, and professional level of your preferred customer?
- Could this customer base financially sustain your bakery?
- Is this market large enough to support expansion if desired?
- How would your bakery appeal to preferred customer?
What does your target market want from a bakery?
So you’ve have decided that your bakery's ideal target market is in between 30-40 with families and steady jobs, but you notice that almost every bakery in your area already has that type of customer. Don’t open just another bakery. Do some more research to make sure that you are not missing a perfect niche market opportunity? Ask yourself:
- Is there a group of potential customers that aren’t being served? (i.e. college students, young professionals, senior citizens, etc)
- Is there a product or level of service my preferred target market isn’t receiving elsewhere?
- Are customers wanting specialty items? Quicker service?
- Are residents bored with what other bakeries currently offer?
- Do customers want wi-fi? Local artwork on the walls?
To find out who the right target market is for your bakery you need to perform the proper research. Simply asking residents to take surveys or sending out direct mailers will do the trick. The research that you perform might even let you know that who you originally wanted to serve at your bakery doesn’t coincide with what your area needs. A target market gives your bakery direction, and even tells you how to advertise your bakery giving you greater chance at success.