Luke and I went to the IBIE Baking Expo this past weekend. It was good to get acclimated to the business of baking in all its forms.
Since this is the first official update it will be good to just lay out all the steps that we have taken in our attempt to transition into ownership of Continental.
Legally, we set up two LLC’s, one for the real estate and another for the business.
We set up this domain, bakerypassport.com, mainly to simplify our email addresses, but also to tie in our planned loyalty program. It has been a tremendous help to be able to verbally hand out emails such as tommy@bakerypassport.com instead of tommy@continentalpastriesanddeli.com.
We have looked into some new equipment such as a steam tube injected deck oven, which will allow better sour dough breads and more delicate pastries. We’ve received a few reasonable quotes, but haven’t come to any solid decisions. The closest we have for a deal would be a 2-deck Polin brand one, that would kind of be like a starter version for us. Other items we’ve looked at are a new dough laminator/sheeter, a mixing bowl lifter, a direct to food printer, and other small items that will allow more effeciency.
We did get quotes for insurance but are hoping to get one more. The lowest we are seeing is $7386 with $1k deductible.
We are still sorting through competing software solutions for managing inventory and recipes.
It is past the middle of September and we still have not seen the financials or tax returns for the last two years. We have presented a Letter of Intent to the owners, and are meeting this weekend to discuss how we will go forward.