The oldest and longest continuously run bakery in Arkansas got new owners this year.
Magnolia Bake Shop is well known across the region for its scratch-baked cakes, cookies, and pies.
Three generations of the Stroope family owned and operated the bakery, established in 1928 by Carmie Schobel Stroope.
Stephen and Betsy Stroope continued to run the business through early 2020. Last year, the Stroopes approached Bake Shop manager Amanda Ybarra and her husband Jimmy about purchasing the bakery.
A Seamless Transition
Amanda had worked at the shop for over 19 years, proving her love of the business time and again. With a dream to own a bakery, the Ybarras decided to buy Magnolia Bake Shop, and the keys were handed over on Feb. 3, 2020.
The Bake Shop continues to serve up birthday and wedding cakes, coconut cakes, pies, cupcakes, gingerbread, butter (better known as “dot”) cookies, breakfast sausage biscuits and pigs in a blanket, bread, and a variety of other sweets.
Amanda’s extensive knowledge of the bakery put her in a unique position to keep the business running seamlessly after the transition to new ownership—and through the COVID-19 pandemic.
Preparing for the Purchase
Before purchasing the bakery, the couple reached out to their local Arkansas Small Business and Technology Development Center. They were referred to the office based at Southern Arkansas University by Peoples Bank president Jamie Waller.
The ASBTDC was able to assist the Ybarras with a business plan, financial projections, and cutting-edge market research to secure the financing needed to acquire the business and do a few renovations.
Amanda recommends to all entrepreneurs and current business owners that it is “absolutely worth it” to work with the ASBTDC.
The finished business plan “made it so much simpler when it came to explaining the business to our loan officer. It helped them see what exactly the business does,” she said.
The Ybarras are thankful for the continued support of their many faithful customers during the pandemic.
“We give all glory to God for without His wonderful will for our lives, we would never have been so blessed to receive such a gift as the bakery,” said Amanda.
Visit Magnolia Bake Shop on Facebook @magnoliaarkansasbakery and Instagram @magnoliabakeshop.