What is a niche? Well according to the Oxford dictionary a niche is described as: A specialised segment of the market for a particular kind of product or service.
Guest post by Pia Cato
Why is finding a niche so important for a cake business? Cakes are very fashionable right now and that helps make it a growing market, which is fantastic, but when you are starting out in business that can also be a slight problem. So in order to make a name for yourself in a seemly crowded market, you simply have to dig a little deeper and when you dig a little deeper you find your niche.
Discovering your niche will help set you apart from your competition. It will give you a clear angle to focus on, a set customer base to target, plus it will help your customers know what you are about, and most importantly it will help maximise your profits.
I can understand that this may be a new or even a strange way of thinking. Surely I should be saying target everyone and that way you will make more money. Wrong. Start small and grow as time goes by, become the master of a particular cake niche.
But what niche should you choose, well that is up to you and what you enjoy creating.
To help you on your way I have listed a few top level cakey niches and then drilled down even further to more specialist areas:
- Sugarpaste Modelling
- Wedding cake toppers
- Toppers for birthday cakes
- Toppers for people from ethnic backgrounds
- Marvel comic toppers
- Sugarpaste flowers
- Sugarpaste animals
- Wedding Cakes
- Buttercream tiered wedding cakes
- Naked wedding cakes
- Square wedding cakes
- Weddings with sugar roses
- Funky wedding cakes
- Birthday Cakes
- Baby birthday cakes
- Cartoon birthday cakes
- Glamourous birthday cakes
- Novelty birthday cakes
- Birthday cakes for men/women/boys/girls
- Bite size cupcakes
- Printed topper cupcakes
- Corporate cupcakes
And the list goes on and on.
Once you have discovered your niche you will find life becomes a little easier. Instead of catering for the world and his wife, you can target one particular segment. This will instantly help you market your business more effectively as you have a laser clear message, a defined product and a defined target customer.
I am going to leave you with two example baker’s, and ask you which would you rather be?
Jemima’s Cakes For Everyone – This baker creates cakes for everyone, for all types of occasions, birthdays, christenings, weddings, retirements, farmers markets and much more. You name it, she makes it. Jemima wants to attract every type of person, but there is only one of her. She works all hours under the sun, takes last minute orders, hardly turns a profit, has no distinct business style and is heading straight towards cake maker burn out.
Lottie’s Novelty Cakes for Big Birthdays – This baker creates novelty cakes exclusively for big birthday celebrations. Lottie is focused, she understands the type of cakes she likes to create and can therefore instantly charge a premium. If you’re after a wedding cake, she will turn you down and recommend you to another cake maker. Lottie books cakes into her diary months and even years in advance. She turns a healthy profit and her future’s looking bright.
In short finding your niche will help your business have focus, you will be able to charge a premium and ultimately it will help you climb the ladder of success. Good luck with finding your niche!