Help Your Business Rise with Bakery Loans
Bakery loans can provide you with the funding you need to grow your retail or wholesale bakery trade business. Whether you’re looking to expand your kitchen or add some new bakers to the team, you can rely on bakery shop financing to give you the boost you need.
Bakery Shop Industry Trends
Before deciding if you’d like to spend money to grow your business, it might be useful to see just how bakery shops are performing in today’s market. Retail shops are the most common types of bakeries, per Webstaurant Store. Unlike wholesale bakeries, which sell their products to grocery stores and restaurants for resale, retail bakeries sell right to customers. Some of the most prominent types of retail bakeries are bakery cafes, counter service, food trucks, specialty bakeries, and home bakeries.
According to IBIS World, the bakery industry in the U.S. has grown by 2.9% between 2014 and 2019. In 2019 alone, bakery businesses are expected to bring in $11 billion of total revenue; this represents a 1.1% increase in just this year.
The Panera Bread chain currently holds the largest market share of bakeries in the U.S. However, the industry is still highly segmented, with small, mom-and-pop shops dominating the rest of the market.