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Baking success with MYOB

03 June 2024

From humble beginnings to leading the Melbourne bakery scene, Phil Kuoch and Goldelucks have grown to embody a modern business. Discover how MYOB powered their journey.

Goldelucks owner Phil Kuoch

As a 21-year-old uni student, Phil Kuoch was planning a different career for himself.  

That was, until 2015 when his parents’ dreams of opening a bakery were on the cusp of unravelling. Due to his father’s ill-health, Phil’s Cambodian refugee parents were about to turn down their opportunity to open their dream store, so Phil stepped up to take the reins.  

And so, Goldelucks was born.  

With no experience in the business world, and next-to-no experience in baking, Phil set out to learn as much as he could about baking at nights while running the shop during the day.  

The journey was far from easy, with the steep learning curves of both baking and business management presenting numerous challenges. 

“I lost so many customers through my crappy baking,” Phil remembers with a laugh.  

But resilience, ambition and tenacity were instilled in him from his parents, and he wasn’t about to let them down.  

Over time, Phil perfected his baking craft and carved out a niche for his business in the Melbourne baking scene.  

“I move quickly, so I need tech that can keep up.”  

- Phil Kuoch, Goldelucks

As his success – and passion for baking – continued to grow, Phil soon realised the need for a business management software to streamline operations at Goldelucks, which was rapidly growing more complex.  

Enter MYOB—a powerful business management platform that quickly became an essential tool in managing the bakery's day-to-day operations. 

The right ingredients for streamlined operations 

Phil knew if he wanted to make the next step in his business a winner, Goldelucks had to transform its operations.  MYOB’s business management software enabled the business to grow from a charming local shop into a thriving business.  

“When you have software like MYOB, where you can see all the inventory you have, it just makes reordering so much more simple.” 

- Phil Kuoch, Goldelucks

Offering real-time data and better business oversight, Phil can now manage inventory efficiently, automate payroll, and handle supplier transactions seamlessly.  

This capability was crucial as the bakery expanded its offerings and customer base in the competitive online landscape.  

Goldelucks bakery

"One of the biggest challenges in running a bakery is keeping track of everything from stock levels to payroll,” explains Phil.  

“MYOB has been invaluable in helping us manage these elements effortlessly. It allows us to focus more on creating exceptional products and less on the backend operations."  

MYOB’s real-time tracking features also allowed Phil to make quick adjustments based on monthly sales and inventory levels, ensuring the bakery can adapt to the fast-paced market demands.  

This agility proved particularly useful during unexpected events like the Covid-19 pandemic, where quick thinking and adaptability were key to survival. 

Enhancing customer engagement with MYOB 

Beyond operational efficiency, MYOB also supported Phil's innovative approach to marketing.  

As Goldelucks began to focus more on engaging storytelling and creating Instagram-worthy doughnuts and gift packages, MYOB's reporting tools helped Phil understand customer preferences and trends, guiding the bakery's creative decisions and marketing strategies. 

“Having something like MYOB in your back pocket means you’ve got everything you need to run your business in one place.” 

- Phil Kuoch, Goldelucks

The bakery's shift towards selling gift boxes that "explode with confetti and butterflies" was a hit, resonating with customers seeking unique and memorable experiences.  

Phil credits his business management capability and operational oversight with giving him the confidence to innovate, as he knows the back end of his business is secure and accurate. 

A tool for growth and connection 

For businesses like Phil’s, MYOB isn't just a business tool; it's a partner that operates 24/7 for the business.  

“You can automate a lot of things, you can also see how you’re tacking for the month, so you can always adjust quickly.” 

- Phil Kuoch, Goldelucks

As Goldelucks continues to grow, Phil looks forward to exploring new ways to connect people and create joy.  

"Every order that comes through tells a story. With tools like MYOB, I can ensure that every gift box we send out is perfect, and that we’re creating moments of happiness for people,

even when they can’t be together," he says. 

Goldelucks doughnuts

With MYOB, he feels well-equipped to handle whatever the future holds, maintaining the legacy of resilience and community that his parents began. 

"MYOB doesn’t just help us run our business—it helps us grow our community. It’s more than software; it’s part of our bakery’s story," Phil concludes, confident about the future and the continued success of Goldelucks.

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