My Start-up Story

A Lagos based cake shop, Buttercream cake shop is a family-owned business set up in the ’90s and now run by Lanre Ajayi, a graduate of Finance from the Prestigious University of Ilorin. Lanre’s fresh budding idea to introduce a bakery line to the business which already makes the best cakes in Lagos in 2019 has driven the business into scaling up. The Cakeshop caters to the local clients with operations within Lagos. The Buttercream bread line is a start-up that has the potentials of making a huge profit for investors. By scaling up from one bakery in Lagos to opening up stores around the country we believe we would have created a recognizable brand with potentials for global growth.

SMALL BAKERY BIG BUSINESS – A story of struggle and growth…

In 2019 before resigning from my job at Terra Kulture, I decided the only way to support my family is to go into business. Cake making business has been my family business for three decades and I have always made cakes part-time while working.

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Equipped with family recipes passed down from my Mom and Dad, I started a bread-making business. Using the same cake shop where I make cakes from – just two ovens, one dough mixer, a deep freezer and a couple of bread pans – LanreButtercream Enterprise started making all types of special buttered bread.

However, I struggled to find people willing to stock my products as most supermarkets in Lagos have started setting up bakeries. Determined to get the word out, I started door to door, pleading with shop owners to sample my products for proof of its quality. ‘No one knows the quality of our bread so I decided to find my own market’ I remember telling myself.

Little by little I was able to convince petrol stations from Palmgroove to Bariga bus stop a total of ten filling stations agreed to allow us to sell to their customers. As the popularity of our bread increased especially the sardine and banana bread, our business started to receive more orders.

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At first, I was delighted to sell just 50 bread per day, until I sold 200 bread in one day the feeling was great. So now I am faced with a new problem, producing enough for our customers with our existing equipment.

Hence, we plan to save more from sales profit, hopefully, secure a bank loan or a BOI grant or find an angel investor or a group of investors who will assist with funds to buy new baking equipment’s, bread slicers, commercial dough mixers and commercially grade oven we will also secure and construct a processing facility to increase production, improve the quality of products and diversify our range of products to include doughnuts, cupcakes, and cookies.

After these upgrades hopefully – and with more orders rolling in and with the increased capacity we will apply for contracts to supply baked goods to neighboring universities, the secretariat and also open up outlets where customers can pick up ready-made baked products. We believe that with the right investors our sales will quadruple. Meeting the right investors will mark a turning point for the business, as we don’t have the budget and the capacity to achieve the success our business should be experiencing. 

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These days we are happy our customers are coming back and I no longer have to ask people to taste our bread for free. I am now focused on keeping up with the increasing orders.

I am hoping by 2020 we could build a production facility. This growth will enable us to employ more people and expand our business to reach more markets.

Success from where we started and what we have achieved up till now makes us very proud.

www.buttercreamcakeshop.com   

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