Did you know COBS Bread is the Cinderella COVID-19 Burnaby business success story? Did you also know that it's really tough to bake as good as professionals (at least it is for me).
Well, at least that’s how the company explains it in regards to how its three Burnaby locations are doing as many other businesses see sales and profits crater.
“We all saw the Instagram videos of people trying to master sourdough starter at the onset of the pandemic, but soon people realized just how challenging it is to bake fresh bread at home,” said a news release. “Bakeries have since become the fastest growing industry in the food sector and a proven, pandemic-proof business.”
The local businesses achieved a whopping 15% same-store sales growth (SSSG) over the past year and +37% operating profit — its most successful in company history.
COBS Bread has over 130 franchised bakeries across Canada and now it is looking to double its footprint in five years.
Getting a franchise is something more and more people are considering as their regular jobs dry up due to the pandemic.
The disruption to the workforce in Canada has opened doors to new opportunities that support flexibility, inclusivity and core values. The pandemic has given rise to unprecedented support for local (86% of Canadians say they choose to support local businesses.)
Women have been disproportionately affected by job disruptions during the pandemic — 10 times more women have left the workforce than men in the past year. With a shift towards more family life, and loss of traditional corporate jobs, franchising presents a unique opportunity for women and new Canadians to create a new lucrative future for themselves.
Here’s some more facts about potential franchisees:
Prior to the pandemic, COBS Bread franchisees, drove a 6% SSSG and an average operating profit of 15%. As a result of the pandemic, they are seeing SSSG of 15.6% (+160%); average operating profit: 20.6% (+37%).
Bakeries represent the second largest food manufacturing sector: 49,000 Canadians employed and are generating $5 billion in GDP annually. Furthermore, bakeries are the fastest growing food sector, with an average annual GDP growth rate of 5.4% since 2015. The Canadian bakery product market grew by a compound annualized rate of 2.2% during 2013-2017.
