In this episode, we dive deep into a common challenge faced by bakery owners: distinguishing between a revenue problem and a pricing problem. Often, bakery businesses struggle to cover their expenses, pay themselves, or grow due to low sales and/or cash flow issues. 

Today, we explore the importance of knowing and understanding your revenue / sales numbers, and discuss some general rules of thumb when it comes to managing your bakery budget - including how much you should plan to spend on things like ingredients, labor, and overhead. 

We also touch on the significance of a profit and loss statement, and the role it plays in helping you identify potential revenue & pricing challenges. By analyzing the percentage of your revenue spent on ingredients and supplies, you can determine whether a pricing adjustment is necessary to maintain profitability.

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Join us for our next bakery finance workshop on October 26th!

To register for free, visit https://www.bakerybusinessacademy.com/workshop