Is now the right time to start a bakery or new business? That is a loaded question. Bonnie wrote about the Englands (Boise Great Harvest owners) this week who reminded us it's a good time to invest in your existing business if you have one. There remains great uncertainty in the economy, with lots of pros and cons for small business ownership.
In this environment, some doors are open that otherwise wouldn't be. Cost of funds (interest rates) are low. Opportunity costs (other ways to make money) are low. Traditional careers that for generations have been safe, steady and secure are now risky in terms of long term stability. Real estate is still not as expensive as it was five years ago.
Why do I think it’s a good time to start a bakery? Today, the world as I see it has never looked brighter. Retail trends overall are driving in Great Harvest’s favor, in spite of carbs and gluten being the target of fad diet trends. Melissa, our nutritionist, has written many times about why whole grains are good for you and an essential part of a healthy life. And we see the main stream media spreading this same message. Whole grains are a growth segment in the food business today and we are a leader in that niche.
Increasingly, there is a market for specialty food. People pay more for organic, although we
are not an organic concept. People pay more for fresh and we are really fresh. People pay more to support local businesses and we are really local. But most importantly, in a world where people are watching what they do with their hard-earned money, they want something that tastes better than great. If there is something our customers agree on, it is that our product tastes phenomenal.
Yes, some people are afraid of carbohydrates and wonder if they should be afraid of gluten too. But, there is a huge segment of the population that gets the importance of whole grains and wants their food to taste great. We serve that market, and it might be the right time for you to serve that market in your home town with your own local business.
Thanks for reading.
