How Honeybee Bakery founder overcame the biggest hurdle facing young entrepreneurs
After being surrounded by enterprise whilst growing up, this 24-year-old set up her own patisserie business in Glasgow, Honeybee Bakery.
Vittoria CapaldI trained in London and worked for high-profile brands such as Fortnum & Mason before taking the leap and starting her own venture.
For the latest instalment of our Young Entrepreneurs series, Business Advice caught up with CapaldI to?find out what she thinks the?younger generation can bring to the business worldand why she would never go back to a 9-5.
Who are you and what is your business?
Im Vittoria Capaldi, the founder of Honeybee Bakery, an artisan bakery and patisserie based in Glasgow. We sell a wide range of bakery products, from cakes and’sweet treatsto’savoury’staples like country loaves andfocaccia.
We specialise in baking spectacular special occasion cakes especially for weddings, which are all home baked. We also sell many other delicacies such as honey and preserves.
Best of all, our shop includes a caf? where customers can enjoy afternoon tea or coffee along with sandwiches, scones, brownies and a variety of different baked bites.
As well as selling our products directly to customers, we also sell our bread and cakes wholesale to local restaurants which has been successful. We have also started to offer kids’ baking parties, where they can have fun decorating their own cupcakes, with the aim of inspiring the next generation of bakers.
What inspired you to start your own business?
Growing up Ive always loved baking, so I realised early on that I wanted to pursue my dream of becoming a professional baker. I spent two years studying to become a baker in London, working athigh-profile brands such as Fortnum & Masons and Konditor & Cook.
I really enjoyed my time in London, working in various coffee shops, but knew I wanted to eventually work for myself and set up my own bakery in Milngavie, which I was starting to miss.
As my dad has worked in a family-run business, I felt inspired to follow his entrepreneurial footsteps, but I knew the amount of work involved to get your venture off the ground.
Having my own business has offered me the freedom to come up with my own cake designs and sell the sort of baked treats I want to. My customers always tell me that my cakes are not just beautiful, but also delicious!
__________________________________________________________________________________ Young entrepreneurs: What’s your story?Our new series is shining a light on the young entrepreneurs launching their own micro businesses to highlight the talents coming through Britain’s ranks.
What are the barriers to starting your own business as a young person?
I think the main barrier for young people is obtaining funding. When you have no prior business experience or evidence to show you can succeed, it can be difficult.
Typically, investors often worry that younger entrepreneurs may not have a solid business plan to support growth. But even with a sound business proposal, things don’t always run smoothly. It can be a risky business investing in younger business owners who may be new to the market.
I also feel young people lack the confidence to just get started. They may feel that a lack of experience is a reason to not do something. But you can’t build up that experience unless you just go for it. Sometimes jumping into the deep end is the best way to learn and succeed. Im learning more and more things every day, including from my mistakes, which are all helping me to grow the business.
What app do you use the most?
I love using Instagram, it is the best app to allow me to show off my creations and has been the perfect marketing tool. it’s like having a digital brochure which is constantly updated. Many of my customers will look through my Instagram feed to gain inspiration for what they want their next celebration cake to look like.
How did you fund your business?
To begin with, I saved up a lot of money from my old job in London, as I knew I wanted to eventually start my own business. But it’s no secret that startups often lack access to finance.
I contacted The Start Up Loans Company, and secured a low-interest loan. Access to finance can be a stumbling block for many aspiring business owners, but fortunately, The Start Up Loans Company provided me with much-needed financial backing.
The loan helped me to pay for equipment, ingredients, the deposit to rent the shop and renovate the premises. Since receiving the loan, the business has grown. Ive hired five members of staff and expanded the kitchen to both cater for my growing customer-base but also to focus on wholesaling to locally based business as well as in store customers.
What do you think the younger generation can bring to the business world?
Business Advice today launches its new Young Entrepreneurs series, where we will regularly showcase the Britain's inspiring and emerging talents coming through the ranks with their own micro enterprises. more»
While there are a number of financing options available, the path to actually securing investment is not always straightforward. Finding the right option and then having the right tools to secure it takes a lot of work even for the most seasoned entrepreneur. more»