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So Money with Farnoosh Torabi

1177: How a Local Bakery (Barely) Survived the Pandemic

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.71.9K Ratings

🗓️ 24 March 2021

⏱️ 35 minutes

🧾️ Download transcript

Summary

By the end of 2020 roughly 3 out of every 10 small businesses that were open in New Jersey at the beginning of 2020 had closed. Today we're spotlighting a local bakery in Montclair, NJ (my town) for a behind-the-scenes look at how it managed to stay afloat in the pandemic. Rachel Wyman is the owner of the Montclair Bread Company, a bakery that specializes in artisan bread, classic pastries and specialty donuts. It is also a beloved community gathering hub. In our conversation, Rachel shares the tumult of the first few months of the pandemic, having to furlough a majority of her staff and quickly rethink her business plan. We touch on the importance of having multiple revenue streams and ways to build a loyal community of customers. Rachel grew up in Maryland and as a child watched her grandmother make wedding cakes. After graduating from the University of Florida with a French degree, she studied baking and pastry at the Culinary Institute of America in Hyde Park, NY, where she discovered a passion for baking bread. She has worked for Bread Alone Bakery, Amy’s Bread, and the Ritz-Carlton and has developed bread recipes for Wegmans, Whole Foods, Target, and Starbucks. She is a mom of three children. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Are you ready for a Monzo Business Bank account?

0:03.3

Heather from the Accountors' Growth Club was.

0:05.3

Knowing what cash I have is really important.

0:08.0

And Monzo Business makes it easy.

0:09.8

It automatically puts 20% of my income into a tax pot.

0:14.0

When it's time to pay your VAT, I always know the money's there.

0:16.8

If you're ready for a Monzo Business account, apply today.

0:19.9

Just search Monzo Business.

0:21.5

Only sole traders or limited company directors in the UK can apply.

0:25.0

Get tax pots with Monzo Business Pro for £5 a month.

0:28.1

Ties and sees apply.

0:30.2

Slack presents hands-free conversations.

0:33.3

Hello, car commuter.

0:34.7

Dog Walker, stroller pusher.

0:36.9

Your hands are busy.

0:38.0

It's why we created huddles in Slack

0:40.0

because sometimes talking is easier than typing.

0:42.7

Huddled without the hassle.

0:44.3

In Slack.

0:58.1

There's a whole range of strings and things called strings and things,

1:09.0

including cheese strings, yollies and cheese shapes.

1:12.0

Find them all in the cheese and york-a-tile.

...

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