Business Plan for Bake and Beans

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""Contents

  1. Executive summary
    1. Current position
    2. Competitive advantage
    3. Growth plan
  2. Business background
  3. Business strategy
    1. Tactics
    2. Strategic impact
    3. E-commerce and technology
    4. Core values
    5. Credibility and risk reduction
  4. My team
    1. Management structure
    2. Current team
    3. Vacant positions
    4. Retention and recruitment policies
    5. Mentors and business support
  5. SWOT and critical success factors
    1. SWOT summary
  6. Market research
  7. Market analysis
    1. Market opportunity
    2. Market structure
    3. Market size and outlook
    4. Future markets
    5. Target market
  8. Competitor analysis
  9. Financial plan
    1. Start-up costs
    2. Funding
    3. Break-even date
    4. Profit and loss forecast
    5. Cash flow forecast
    6. 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

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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 Rana’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

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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

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Management structure

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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

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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 leave’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 Rana’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 Zealand’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 growing 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 Kiwi’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.

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Bake and Beans

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