Pastry Business in Ontario
To start a pastry business in Ontario, you need to think of the type of bakery you will open and the products and services you will offer. You also need to purchase equipment and cover costs such as décor, furniture, ingredients, and supplies for which you will need a comprehensive business plan to secure financing.
Types of Bakeries
The first step is to choose the type of pastry shop you’d like to open, examples being specialty, home, and service bakery. Other options include café, doughnut shop, bread shop, and cake bakery. Think of the services you plan to offer as well, whether mobile, sit down, counter service, or online.
Equipment
The type of equipment that you will need depends on the selection of products and services that your pastry shop offers. In general, you will need things like sheet pan racks, bread slicers, bakeware, ovens, and mixers. You will also need smallwares such as flour sifters, icing tips, pastry knives, and mixing bowls. Essential pieces of equipment for your business are also display cases, refrigeration units, and cake making machines.
Business Plan
Financial institutions require that applicants present a comprehensive plan to prove that they are committed to running a successful business. It also helps them to assess your financial needs and the feasibility of your enterprise. A good business plan includes details such as keys to success, mission, financial considerations, market, and products and services. Make sure you list keys to success that will help you build and expand your business, for example, competitive pricing, high quality products, easy drive-through, and good location. Banks are also interested in financial details such as projected cash flow and profit and loss and business ratios. Finally, you need a sales forecast for your products, including items such as bagels, doughnuts, pastries, pies, expresso drinks, etc. Visit https://www.creditcardsforbadcredit.ca/ for additional resources on money management and credit.
Securing Cash for Your Business
Look into different types of financing and compare interest rates, repayment schedules, and total payback amounts. This will help you to evaluate offers and determine whether you can afford the loan.
In general, there are two sources – equity and debt financing. Sources of equity financing include government grants, crowdfunding, angel and private investors, venture capital, and bootstrapping. An option is also to offer part ownership to friends or family members. Debt financing includes business loans, lines of credits, credit cards, and other products that banks offer. When assessing your application, providers look at details such as your bank history, company track record, credit rating, and the amount you have invested. You can choose from different sources, including peer to peer loans, suppliers, retailers, banks, and supply chain, trade, receivable, and asset and equipment finance.
The Canada Small Business Financing Program is a good place to start if you need cash to purchase buildings, equipment, or land. The money cannot be used to cover costs such as franchise fees, goodwill, inventory, and working capital. Costs for borrowers include the interest rate, whether fixed or variable, and lender and registration fees. Credit unions, banks, and caisses populaires across Canada offer loans under the program, including Diamond North Credit Union, Royal Bank of Canada, and Toronto-Dominion. The government also offers business grants, wage subsidies, tax credits, and other forms of assistance. Financing is available by different bodies and under various programs such as the Northern Ontario Heritage Fund Corporation Funding Programs and Eastern Ontario Development Fund. Depending on the program, eligible expenses may include skills training, direct labor, leasehold improvements, and capital equipment. Assistance is also available to boost competiveness and productivity and develop skills.
Popular European Pastries
There is a multitude of delicious pastries to try while in Europe, whether it is tarts, cakes, or pies that you like. Popular pastries that are all-time favorites include apfelstrudel, pastel de nata, krapfen, cannoli, and profiteroles.
Apfelstrudel
This is a traditional Austrian dessert and a top choice while on a holiday in this Central European country. Apfelstrudel is an apple pie with a thin dough and filling that combines soaked raisins, sliced apples, cinnamon, sugar, and buttered breadcrumbs. Butter is used for brushing. Some recipes also include walnuts or almonds and rum. Depending on the recipe, the dessert may be served with vanilla sauce, whipped cream, or vanilla ice cream. It is best to consume warm.
Pastel de Nata
This delicious Portuguese tart dates back to the 18th century or even earlier and was prepared by nuns and monks in Santa Maria de Belem. While hundreds of bakeries offer the pastry, the original recipe is kept secret. Patel de nata is basically an egg custard tart with a delectable filling combining yolks, water, sugar, milk, and flour. Vanilla extract and cinnamon add flavor to the filling.
Krapfen
A deep-fried German pastry, krapfen is a type of doughnut filled with chocolate or vanilla custard or jam. The recipe can be traced to the 9th century and includes flour, fine salt, butter, egg yolks, dry yeast, granulated sugar, and warm milk. Rum and vanilla add flavor /any rum can be used/. Depending on the region, krapfen is also known as kreppel, krebbel, faschingskrapfen, pfannkuchen, and Berliner.
Cannoli
These delicious fried pastry tubes are an Italian invention and were first made during the 9th century in the Messina and Palermo regions. Some claim that the word cannoli means Emirate of Sicily but there are other theories as well. The pastry was brought to North America by Italian emigrants during the 19th century and has been a popular choice ever since.
The pastry tubes are stuffed with a tasty filling made from icing sugar, chopped candied peel, mascarpone, and ricotta. Other ingredients can be added to the ricotta mix, including chopped pistachios, zuccata candied pumpkin, and chocolate. While bakeries in the U.S. offer many variations of this tasty recipe, most Sicilian pastry shops follow the classic recipe. The rubes can be flavored with Marsala wine, suet, or cocoa.
Profiteroles
Dating back to the 13th century, these delightful pastry balls were created in Southern Germany and France and were originally filled and served with truffles or coxscombs. In the 19th century, profiteroles were usually served with coffee, tea, or dessert wine. Today, the puffs are made from double cream, eggs, flour, caster sugar, butter, and vanilla extract. They can be filled with vanilla ice cream, pastry cream, custard, or whipped cream. Other popular European desserts include brioche from France, appletaart from the Netherlands, crostata from Italy, and tarte tatin from France.