Business Plan for Bake and Beans - Free Essay Example

Contents Executive summary Current position Competitive advantage Growth plan Business background Business strategy Tactics Strategic impact E-commerce and technology Core values Credibility and risk reduction My team Management structure Current team Vacant positions Retention and recruitment policies Mentors and business support SWOT and critical success factors SWOT summary Market research Market analysis Market opportunity Market structure Market size and outlook Future markets Target market Competitor analysis Financial plan Start-up costs Funding Break-even date Profit and loss forecast Cash flow forecast Balance sheet forecast 1. Executive Summary Bake and beans will be taking the Indian bakery products to New Zealanders and matching the needs of the locals and making it visually attractive. Since the business started in affect significantly increase in demand for the Indian bakery products grew and demand for Vegetarian cakes grew. The bakery will target special wedding, birthday, graduation ceremony, Christenings and 21st birthday celebrations. Current position The current position of the bakery is proudly counted as the only Indian Bakery who operates in New Zealand with the authentic taste and highest quality of procurement. Being the only bakery that prides to bring vegetarian cakes to customers Competitive advantage The advantage of the company lies a positive nature of business as after the opening in these years there have been no single business owners in the market who wants to compete and make similar products. Growth plan The Plan of the business will be to invite more of the customers to introduce the taste of the authentic Indian bakery products in New Zealand entirely and with the eye of opening more branches in South of New Zealand and even selling up the franchise and lead business with maintaining quality and growing the quality each day and meet up with the high standards of the other businesses in New Zealand. 2. Business background Click here for help History Mr Shally Rana from northern part of India with cooking as his favourite hobby and with an experience in culinary and baking skills came up with the idea of bringing Indian taste along with him to New Zealand. Goals The Goal of Mr Rana is to grow the business and own the maximum of shops all around in New Zealand. And to take Indian bakery product to a height as to make it as a part of New Zealanders daily favourite. Offering The offering of the Bakery will be of the aim to be the corner stone in the community and create a homeland atmosphere for people away from their home country and to involve locals to their feast and up bring the taste and flavour across the country Intellectual property The Intellectual property of the business is shared with Mr Ranaà ¢Ã¢â€š ¬Ã¢â€ž ¢s Wife and the advantage of not paying the rent to the business is more likely to make profit. Locations and outlets The location of the business is at Auckland region of New Zealand in Mt Roskill. . 3. Business strategy Click here for help Tactics The tactics of the business will be re launching the entire range of products and promote the offer to sell franchise with the view of maintaining the quality of the products. Strategic impact The impact of the strategies will bring more interested clients who would like to invest with the business E-commerce and technology The strategy is to like the two businesses with the online help form the team of the other stores and provide learning tactics online to help each other and utilize the maximum of the technology. The main idea and innovation for this business will be promoting the product on internet through the website. Core values The core value of the business is to maintain the promise of bring Indian taste to the customers away from home, Guide the franchises to maintain and teach then the essential need of the business if to provide the quality with a best customer service. Credibility and risk reduction The credibility of the business will be taken care with the view to minimise the risk involved in keeping secret of the recipe and not letting it spread and make it common on the grounds that to invent the recipe Mr Rana had invested upon a maximum of quality of time which the business cannot afford to leak and reduce the risk by making a patent right of the recipes and not let anyone to make the same product with the same taste. 4. My team Click here for help Management structure {Enter text} Current team Name Mr Donald Singh Position Baker Qualifications New Zealand Degree in baking Expertise Cakes Track record 2nd in cake making competition in year 2010 Name Mrs Sam Singh Position Pastry chief Qualifications New Zealand Diploma in Baking and pastry making Expertise Preparing Pastries for the Bakery and Cooking for Pies Track record 1st in her academic class. Vacant positions Position #1 Customer service Supervisor Managing inventories and other customer representatives and Dealing with customers Position #2 Assistant Manager Assisting manager on his day off and on holiday periods Position #3 Assistant Baker Assisting Baker and Pastry Maker. Retention and recruitment policies All the Advertisements will be submitted in New Zealand Herald and welcome everyone to apply for the job Mentors and business support Mr Max Well will support Mr Rana In hiring the best candidate suitable for the job. 5. SWOT and critical success factors Click here for help Strengths I will maximise them by: Unique recipe for Pie And Cakes Maintaining the secret of the recipe Weaknesses I will maximise them by: Non availability of the main baker during his sick leaveà ¢Ã¢â€š ¬Ã¢â€ž ¢s Hiring a assistant baker to cover his shift Opportunities I will maximise them by: Selling the franchise to the investors Promoting and selecting the best investor Threats I will maximise them by: Competitive Market of other products Introducing products to customers and maintain the high quality. SWOT summary Chosen strategy The strategy of the business will be Increase the sales and maintain the quality and hiring new baker but hiring whilst maintain the secret recipes and promoting the business to the market to sell as a franchise. The aim of the business of to avoid any obstacle in future Critical success factors The success factor of the business will be the sales forecast of the business. Promoting cake sales in Christmas and Easter time and promoting wedding cakes and Indian savouries along with the cakes and provide suitable discounts to the customer so that they attract. The success of the business will determine the view of Mr Ranaà ¢Ã¢â€š ¬Ã¢â€ž ¢s Introduction of the coffee machine to the locals and turning the cake shop to a restaurant where customers can order coffees while they wait and decide to the cakes. 6. Market research Bake and beans is focuses on New Zealandà ¢Ã¢â€š ¬Ã¢â€ž ¢s customers to attract to the Indian Taste in bakery and as the business is unique in New Zealand hence the Market research of the study is divided into two segments of service business analysis. Bakery: Any bakery offering bakery products. Pie: Any Pies in the market including which is sold in super markets. Competition and buying patterns. Although the bakery business is gro wing popularity amongst the new customers and increase in demand of vegetarian cakes the customers are noted in purchasing the cakes and bakery items from their local super markets, the reason of purchasing it from the super markets would be the easy availability of the products while they shop for normal items or the special deals provided by the companies timely. To match up with that we need to compete against the idea of customers and promote the quality assurance and freshness of the products we sell. While the taste may be the factor for the customer which is the normal taste for the Kiwià ¢Ã¢â€š ¬Ã¢â€ž ¢s and they not willing to pay more than what they see in the super market. We believe that they will be willing to spend more if they will came to awareness of the differences between the freshly made bakery products against the product sold in supermarket with preservatives. 8. Competitor analysis Competitor 1 (Quality Bakery} Strengths Weaknesses Old Kiwi traditional bakery products. Local customers Competitive price Small operation of business. Hygiene Lack of variety Strategy To improve the products and may be in future introduce an New Zealand recipe in the bakery to attract locals. Competitor 2 {Countdown Supermarket } Strengths Weaknesses Large Operation. Huge number of daily Customers Ability to sell the products in reduced price Running off the products. Non availabity due to supplies. Higher rates when bakery is not on special deal. Strategy To establish a customer reward system so that the more the customer purchase the more discount they can get. 9. Financial plan Profit and loss forecast First year Second year Third year Estimated sales 0.00 22.861.00 207,112.00 Estimated costs 111,150.00 160,442.00 198,143.00 Estimated profit/loss -174,404.00 -243,957.00 -92,608.00 Balance sheet forecast Type of Balance Year1 Year2 Year3 Total Current Asset Total Non-current Asset Total Asset 74,440.00 476,457.00 550,897.00 121,216.00 423,331.00 544,527.00 428,560.00 370,166.00 798,726.00 Projected Cash Flow Cash Flow of Bake and Beans. Page | 1 Bake and Beans