Business Loan for Bakery

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Bakery business is a perennial and emergent business in India. The moment we say bakery it does not only remind us about cakes but that include cookies, bread, bun, pastries, and much more. These food items have caught attention just not because they are tasty but healthy too. Also, busy people across the location in India find bakery food a boon as it is substantial and affordable too. Yes, most of the baking products include egg, nuts, and flour as their main ingredients which are filling and nutritious too. IMARC Group has found that the Bakery Market in India will see a great prospect between 2019 and 2024. The market value has already touched USD 7 bn in 2018.

Given these details, we are sure that all the entrepreneurial thirst in you is triggering you to expand your bakery business. Yes, you can now apply for a business loan for bakery in India from FlexiLoans and we are a Fintech company striving to help your entire industrialist dream come true. 

Instead of generally telling about the loan process and loan requirement, let us quickly give you all the insights to help you effectively start and sustain in your bakery business. 

It is a 6 step process and we will walk you through each step in the sequence. 

Step#1 – Research

Any business establishment and expansion will be successful only when you know the market. Understand the location and the people need before you invest money in this bakery business. However, the bakery business will survive in any location and it is one among the top 5 highest revenue-generating business in the Indian food processing trade. More than fifty percent of biscuit sale skyrockets in the rural areas. Maharashtra and West Bengal have marked the highest consumption of bakery food items. In short, not much research is required and you can start with the Bakery Business Loan process immediately and succeed in any location across India. 

Step#2 – Registration 

Registering any business is a must which will help you comply with all legal formalities and also make use of the schemes offered by the government for small business owners. Apply for a license from the food safety and standards authority in India (FSSAI). Food manufacturing and selling require additional caution as toxicity might take a toll on the life of people. Therefore it is a must to register with FSSAI. Also, it is a good practice to obtain a GST number and comply with the Indian government. 

Step #3 – Finance Requirement 

Here comes the important step in starting a bakery business. You can apply for Small Business Loans for Bakery Shops based on your requirement. It could be used as fixed capital or working capital. 

You can approach us and complete all formalities to get a loan. Follow these steps. 

  • Be ready with your documents namely the PAN card and personal know your customer (KYC) details. 
  • Then get a scanned copy of one of the following address proof such as rental agreement, DL, voter ID, passport or ration card. 
  • Also, check with your bank and obtain a bank statement reflecting the last 6 months bank transactions. 
  • Finally, you must also submit the GST or shops and establishment certificate. 

Hang on! Before you work on collecting these documents, please ensure if you are in business for a minimum of one year and have generated a monthly turnover of 2,00,000. And yes you must be above 21 years. If yes, then continue with the documents and rest assured that you don’t need to do any paperwork and the process is simply online.

Step#4 Establish your business 

Having said that you get your loan sanctioned and now it is time to get going with your bakery business venture. You can successfully grow not just with the finances but the way in which you proceed with your business. Check for the right area based on your cash flow and that will help you expand the business. Understand people in the locality and their need to provide such bakery food items to sustain for a long time. 

Step#5 Quality is the key 

Just ensuring that you are producing a quality product won’t help and you need to follow some standards to ensure quality. Check Bureau of Indian Standards and you can understand the quality required to set up a bakery shop. Remember that food item business must be done with additional care as it is consumed by all people. Have some basic quality standards and maintain your shop neat and clean. Use proper glasses to keep the food closed and save them from flies. Flies are the most common germ carriers that cause several health issues. 

Step #6 Promote your business 

The moment we mention the business promotion, do not worry about the expenses. There are several ways in which you can advertise your business with negligible investment. We consider these charges as well and hence offer business loan at the best interest rate. You can repay them based on your convenience by choosing the tenure and utilize the entire fund for purchasing materials, and branding your business. Choose social media and simple paper fliers for cost-effective promotion. Also, choose to keep some signboard sized hoarding in different places near your shop to catch people attention. 

Final takeaway 

Thus you can now feel glad that it is simple to start and run a bakery business. We will help you not with financing alone but with a simple and fast process as well. We offer loan in almost any location in India. It could be an urban or rural area, name the place and we will arrange for your funding. Our online process will help you get a business loan within 48 hours. We do not ask you for any collateral. You can think big or small as we offer up to 1 crore as a business loan with minimal charges and best interest rate. Get ready to apply for a business loan today and keep going with your bakery business to stay in pace with the growing market and the demand.