Our friend Chuck Huckaby pointed out this great story, at CBC Radio’s Vinyl Cafe. It’s the story of a bakery, how it started, how it is part of the community, and the larger picture of rural development. But mostly, it’s just a great story.
Five of them decided to open a bakery. They found one for sale and figured they needed about $40,000 to get going. They went to the bank and explained they wanted to sell bread at $2 a loaf rather than the going rate of 50 cents. They said they figured if you explained to people that you were charging more so you could pay farmers more, people would be happy to pay the extra.
The bank told them this was absurd. The bank said that wasn’t the way the world worked. So they got money from friends. Some low interest loans, some no interest loans. They promised to pay them back, if and when they could.
They had no idea if they were right. Everyone told them they weren’t. Everyone told them not to quit their day jobs. Everyone told them they would fail. They figured they wouldn’t be grandiose. For opening day they baked about 30 loaves of bread, 2 dozen muffins and 12 cinnamon buns. When they opened their doors at 10 o’clock … there were 200 people lined up at the door.
Read the whole story at CBC Radio’s Vinyl Cafe.
Thanks for the tip, Chuck!
[Photos from Tall Grass Prairie Bread Company.]
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.