Source Bakery

4.9★★★★★(135 reviews)

3 Duncan St, Gloucester, MA 01930

Gloucester, Massachusetts, United States

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Hours
Closed on Tuesday
Monday - TuesdayClosed
Wednesday - Saturday8:00 AM – 3:00 PM
Sunday8:00 AM – 2:00 PM
Address
City: Gloucester
Neighborhood: Downtown Gloucester
State: Massachusetts
Postal Code: 01930
Country: United States

Business facts

Estimated annual revenue~$287.1K
Estimated employees~5
In business since2023 (est.)
Estimate based on strong signals

Area statistics (01930)

Population29,830
Median household income$84,465
Source: US Census ACS

About

Source Bakery is a woman owned and operated business located on the North Shore in Massachusetts. They currently operate out of a shared kitchen space and are looking to open their first brick and mortar location soon. Source Bakery specializes in handmade, from scratch baked goods with flavors influenced by the seasons and locally sourced ingredients. Their Hand Pies and Biscuits are customer favorites, along with their Chocolate Chip Cookies and Apple Cider Donuts in the fall. The company is committed to using fresh and local ingredients and believes in supporting other small businesses for mutual success.

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Credit Cards
Debit Card, NFC, Yes
🍽️
Dining Options
Delivery, Take-out
ℹ️
Diversity Management
Woman Led
🏳️‍🌈
LGBTQ Friendly
Yes
📖
Menus
Breakfast, Coffee
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Price
$$
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Restroom
Yes
Wheelchair Accessible
Parking, Restroom
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Wi-Fi
Yes
Categories: Bakeries.
ISIC Codes: 4721.

Market analysis

Earning below its category median in a growing category (Bakeries).

EstimateCategory trend: 2024, +3.3%

Revenue trend (modeled)

~$219.4K2019
~$218.2K2020
~$252.2K2021
~$271.4K2022
~$274.8K2023
~$287.1K2024
Modeled from official industry statistics+5.5%/yr since 201980% confidence band: ±42%

Property

Lot size6,156 sq ft
Land use3250
ZoningCB
CountyEssex
Parcel ownerCOUGHLIN J T & COUGHLIN P M TR
Assessed value$1.1M (land $365.4K)
ObservedPublic assessor / cadastre record

Category context

BusinessesTotal revenueMeanMedianMedian ratingvs median
Bakeries in Massachusetts2,719~$3.5B~$1.3M~$393.3K4.4★0.7×
Category revenue trend2024: +3.3%2023: +4.8%2022: +18.6%2021: +8.0%Modeled from business-level estimates
Chain pressure48 chains expanding in this category, led by Whole Foods Bakery, Walmart Deli, Crumbl - Dedham (+576 locations since 2016)

Revenue trajectory vs benchmarks (indexed, 2019 = 100)

Estimate

Immediate area (1 km)

BusinessesTotal revenueMeanMedianJobsEstimated wage billvs median
1 km area (all businesses)717~$939.3M~$1.3M~$467.4K3,367~$277.1M0.6×
Wholesale and retail trade; repair of motor vehicles and motorcycles176~$394.0M~$2.2M707

1 km area (all businesses): median from the 625 of 717 businesses with estimates

Estimate

Area conditions (01930)

Population29,830 ±25
Median household income$84,465 ±$7,168
Median home value$535,100
Bachelor's degree or higher0.4%
Unemployment rate0.1%
Source: US Census ACS
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