The fact that people will soon be able to start trading cupcake stock is a sign that cupcakes have gone above and beyond a temporary craze. Meet Pam Turkin, a woman who capitalized on the cupcake frenzy and left her marketing job to start her own chain of cupcake stores. It was definitely the right decision in her case — not only did she turn her passion into a job, but she also generated a sweet $1.6 million from her business last year.
It seems really easy when you're reading someone else's success story, but there is actually a process to creating your own job. Here's how Pam did it:
Early Observer: Pam caught on to the cupcake trend in 2008 and was one of the first to start that concept in Detroit.
Experimental Stage: She tested out recipes on people. In her case, her family members were the lucky guinea pigs.
To find out how she made cupcake magic happen, read on!
Trial and Error: The cupcake store owner tried her idea out first, before quitting her day job. She rented out a commercial kitchen and sold the sweet treats to local bakeries. Based on her success, she decided to go onto the next stage.
Store Openings: Pam opened her first store in 2009, and by 2010, she had opened a total of five stores. She grew her business by franchising and licensing her brand name to other individuals keen on cashing in.
Other Avenues: You need to be creative and think of other income outlets for your product. Pam engineered a deal with Faygo, a soft drink brand in Detroit, to produce soda-flavored cupcakes from them.
Source: Flickr User bossacafez