I run a home based cake business right now, but would like to branch out as I am getting to many orders to stay in my small kitchen. With the economy like it is...is now the right time to start a small business?
      Answer1:You have reached a point where your kitchen is becoming too small. Thats an excellent reason for a small business to branch out, regardless of the economy. If your product sells well you seem to have some solid ground to work from.As a general rule, dont branch out too much and dont expand too quickly. Grow it slowly, adapt to the market situation and stay flexible. Dont lock yourself in too much. Stay reasonable.Good luck!
      Answer2:If its going to help out someone in this economy, yes. People do still have to eat dessert at birthdays and such so to me, this is a great field.
      Answer3:So, are the increased orders that you cant fill (due to your current location) extensive enough to cover your added expenses if you move to a retail location? If not, how much revenue would you need to generate to cover all operating expenses? If not, do you have the extra capital to float your business until the orders are adequate enough to cover costs?If youre simply working out of your house and are getting significant orders than you might consider where your clientele are coming from. Are they referrals? Are they word of mouth? If so, will the referrals increase enough to cover the added costs of being in a retail location (lease, insurance, overhead, etc)? If you dont believe so, what will you do to increase your retail sales once you are in the new location?For the record, now is an excellent time to start a small business. Just crunch the numbers for all possible scenarios before you dive in.
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