Bakery owner reporting in.

RM100k may or may not be sufficient. But at this moment, your wife attendance to class, how is it going? has she learn how to bake already? Making cakes? Decorating cakes? I would stress it's best you taste it first and have friends taste it. It's really tough to satisfy everybody's tastebuds but you could have a majority. Secondly, baking in bulk and mass production is cost saving but altogether different from what you learn in simple baking classes. You need go have classes from recognized baking institute.

If there is no talent in cooking/ baking, it won't work out. Mayb the dough wont rise, the cake would be disasterous, etc. We had lots of trial and error and I couldn't recount how many flours and sugar I've wasted. And imagine flours and sugar price is so unstable.

A decent over cost around 30k while a dough mixer would be around 10k, remaining for renovation?

Finding chef is hard and finding a good chef is even harder when they are dishonest, etc. Best if you have the experience and wont get cheated. Also in case the chef doesn't want to work for you anymore, what happens? close shop?

yes, best sugggestion. Especially for kuih Raya