Business Plan for The Bake Whisperer in London, UK

This business plan outlines the establishment of The Bake Whisperer in London, UK, which will offer gluten-free baked goods and other bakery products made with organic ingredients. The plan includes a macro environment overview, market and industry analysis, marketing and pricing strategies, SWOT analysis, and financial projections.

Business Plan

EXECUTIVE SUMMARY
The report summarises that business plan is used for assisting management of a venture
through stating ambitions, ways to attain them and till when. It assists in summarising what the
business is all about, reason for its existence and where it will get to. The Bake Whisperer is new
business idea that will be established in London, UK for meeting requirements of customers for
bakery related products.
The business plan includes business details, macro environment overview, market and
industry analysis, marketing and pricing strategies, SWOT Analysis and financial projections.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
Contents...........................................................................................................................................3
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Business details............................................................................................................................1
Macro environment overview......................................................................................................1
Market and Industry analysis.......................................................................................................3
Competitors Analysis...................................................................................................................4
Marketing and pricing strategies.................................................................................................5
Operations plan............................................................................................................................6
SWOT Analysis...........................................................................................................................6
Financial requirement..................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Business plan is termed to a document that includes setting out future objectives along with
strategies of new business for accomplishment (Finch, 2019). It serves as key reference point for
partners, investors, management as well as employees for gauging progress against objectives.
The Bake Whisperer is a business idea that is planning to establish venture at London, UK. It
will offer gluten free baked commodities, variant of cakes and other bakery products that will be
produced by using organic raw materials or ingredients.
The business plan highlights detail of business, overview of macro environment, analysis
of market and industry, competitors analysis, strategies related to marketing and pricing,
operations plan, SWOT Analysis and financial requirements.
MAIN BODY
Business details
The Bake Whisperer is a new business that is planning establishment in the bakery industry
of UK. Its purpose is to delight families every day with range of wider quality of baked products
to suit all meal occasions, tastes together with lifestyles. It will be located at London UK and
start business practices with around 15 people.
In London, customers have the need for healthy food made with natural ingredients,
freshness as well as perceived value for money. Customers in the bakery industry looks for
variant of bakery products and healthy solutions which do not compromise their desired eating
experience. Products and services that will be offered by The Bake Whisperer will meet their
needs through offering relevant bakery label solutions which do not sacrifice taste and quality. It
will prepare its products by focusing on the health consciousness of target audiences so that they
can feel good about their decision on purchase and consumption. It is expected that market of
bakery will rise in future because of huge demand of bakery commodities (Götz, 2020).
Macro environment overview
Macro environment is termed to set of conditions which exist in an economy as whole
despite of specific region, market or sector. In a business, purpose to analyse macro environment
is to identify opportunities in addition to threats which have chances to impact strategies of
enterprise. For The Bake Whisperer, overview of macro environment is possible through
conducting PESTLE analysis that is a framework applied for gaining macro picture of external
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factors impacting the business. In association to The Bake Whisperer, description of all factors of
PESTLE Analysis is underneath:
Political factor: In UK, political system is stable including rule of law, effectiveness of
government policies and low corruption. For new businesses such as The Bake Whisperer, stable
political system allows establishment of venture through adhering decisions of political leaders.
However, political factors that can impact strategies of the business are tax rates, impending
legislation and trade regulations (Hanák, and Grežo, 2020).
Economic factor: In UK, economic environment is based on market oriented economy.
At present, wage rates in UK for people belonging age of 25 or over is £7.83 per hour, 21 to 24 is
£7.38 per hour and 18 to 20 years is £5.90 per hour. Managers of The Bake Whisperer can
employ people on hourly basis so that it achieve success in completion of practices of company
to reach desired objectives.
Social factor: Population of UK are becoming more conscious about their health and are
demanding products made from organic raw materials. Through carrying out functioning as per
pertaining needs of customers or society, The Bake Whisperer can make successful position in
market as it can offer what customers demand that could maximise its sales volume and
profitability.
Technological factor: There are ample number of automations adopted by enterprises in
UK. In The Bake Whisperer, usage of advanced technologies including search engine
optimisation, artificial intelligence and many more can result in fewer requirements for
labourers. Moreover, it will permit the venture to make improvisation in profitability together
with reducing the probability of human mistakes.
Legal factor: Within UK, bakery industry has high standards for matters of safety (Hopp,
Greene, and Samuelsson, 2018). In The Bake Whisperer, The Food Safety Act 1990, Clean
Neighbourhoods and Environment Act 2005,
The Regulatory Reform (Fire Safety) Order 2005 and hence forth can guide in carrying out
practices to achieve sustainable success.
Environmental factor: Different markets possess distinct standards or environmental
norms that can influence profitability of company. In UK, different environmental laws as well
as liability standards are adopted by government to protect environment of country. In aspect to
The Bake Whisperer, managers adopting ways of practices which would benefit the society and
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working with commitment to reduce level of carbon footprint can assist in enhancing social
conscience and protect environmental aspects of UK.
Market and Industry analysis
Bakery market of UK is worth £3.9 billion as well as is largest sector of food industry of the
country. The larger baking ventures, in-store bakeries in supermarkets and high street retail
bakers are key sectors that make up market of bakery industry. To analyse market and industry,
Porters five force analysis is effective (Jukova, Ilina, and Zotova, 2019). It is a framework
adopted by entrepreneurial ventures to determine attractiveness and intensity of competition
within specific market and industry. In association to The Bake Whisperer, forces of the model
are as described:
Competitive rivalry: In this, managers looks at number together with strength of
competitors. In Bakery Industry, Konditor & Cook, Jacob The Angel, Ottolenghi, Cutter &
Squidge, Crosstown Doughnuts, Bread Ahead and many more are some of businesses that
operates with larger market size. All these have huge market size that can create high
competitive rivalry for The Bake Whisperer.
Bargaining power of suppliers: In an industry and market, suppliers plays role of
providing inputs to businesses. In Bakery industry, businesses work by establishing contractual
relationship with ample number of suppliers so that they can arrange required resources at the
least possible prices. For The Bake Whisperer, bargaining power of suppliers can be low as the
venture can switch to others suppliers in market when one makes change in quality or prices of
materials.
Bargaining power of buyers: Customers are king of market and industry as they have
competence for driving prices lower. In Bakery industry, bargaining power of customer depends
on how much customers a business has and how much it cost a company to find new customers
for outputs. For The Bake Whisperer, bargaining power of customers will be high as each
customer has power for negotiating prices along with better deals.
Threat of new entrant: It is the threat that is posed to current ventures in a market and
industry (Katz, 2018). For entering in market and industry of Bakery, The Bake Whisperer is
required to comply with trade restrictions and make investment to achieve sustainable position.
Threat of substitutes: Substitutes refers to products or services that offer similar benefits.
Within Bakery Industry, various substitutes are available for baked products including fresh fruit,
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snack bar, ice cream and hence forth that can be consumed while craving for baked items. It can
create high threat of substitute for The Bake Whisperer as these are healthy food.
Competitors Analysis
Bakery industry of UK is highly competitive as most of bakery ventures are small to
medium size producers which serve highly fragmented market. In aspect to The Bake Whisperer,
competitors analysis is used by managers for evaluating competitor ventures and their products,
strategies along with other dimensions. Mentioned below is competitors analysis for The Bake
Whisperer:
Basis of analysis The Bake Whisperer Konditor & Cook Ottolenghi
Products and
services
The new venture will
offer products by using
no more sugar as well
as fat than customer
need. It will offer all
types of bakery
products for jaw
dropping centerpieces
for big celebration in
house.
Konditor & Cook serves
range of treats starting
from deliciously indulgent
brownies to a jaw-
dropping and best-selling
cake featuring Belgian
chocolate centre, vanilla
bean frosting and lavishly
coated in cream cheese.
Ottolenghi offers
cakes that change
taste of customers
daily. It also offers
cheesecakes with
salted caramel and
hazelnut (Mariani,
Bartoloni, and
Morelli, 2019).
Strengths of
location
The Bake Whisperer
will be located at centre
of London which can
benefit in providing
higher proximity to
reach target customers.
The company is
established at London's
trendy South Bank that
benefits in making
valuable practices due to
strong local support.
Ottolenghi is
situated at London
adjacent to target
customers that
benefit in
maximising sales
volume and making
larger revenues.
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Marketing and pricing strategies
Market strategy refers to overall game plan of company to reach prospective consumers
together with turning them into customers (Masciocchi, 2020). In association to The Bake
Whisperer, kinds of market segmentation are as discussed:
 Demographic segmentation: It entails splitting up audience as per observable and people
based differences. If The Bake Whisperer uses demographic segmentation, it opts
variables including family size, income, age, occupation and education level.
 Behavioural segmentation: It comprises segmenting market as per behaviours of
customers regarding business product. If The Bake Whisperer opts behavioural
segmentation, it divides the market as per online shopping habits, benefits sought, loyalty
and user rate.
 Geographical segmentation: It comprises splitting market as per location. It can be
adopted by managers of The Bake Whisperer so to better understand needs of customer
and enable in sending location specific ads.
 Psychographic segmentation: It deals with features of emotional and mental. Within The
Bake Whisperer, the segmentation can be used for segmenting market as per interest,
attitudes, lifestyle and traits of person.
Among the discussed types. The Bake Whisperer can work with behavioural segmentation in
which target market are segmented in accordance to shopping habits, usage rate, loyalty and
interactions. The business will target people with huge shopping habits, more loyalty and higher
usage rate (Moro Visconti, 2019). Targeting strategies that can be used by the new venture are as
follows: Undifferentiated marketing: It is said to marketing to whole population with individual
strategy. Concentrated marketing: Herein, a business may select to carry out operations in well-
defined customer group to gain expertise in meeting highly specialised requirements of
customers. Selective marketing: It refers to providing variants of offerings to distinct segments of
customers.
In The Bake Whisperer, concentrated marketing strategy is effective as it entails the company
to direct all resources along with efforts for developing and marketing offerings for specific
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segment of target customers. With this, the business can obtain good position in marketing
segment.
Managers of The Bake Whisperer can adopt penetration pricing strategy so to attract
customers towards its products or services through offering a lower price in initiation level. It
can assist in migrating users from competitors together with allow the enterprise to gain a
foothold in the market (TOMASSONI, 2019).
Operations plan
In aspect to The Bake Whisperer, operational plan includes the following:
Products will be products: For producing bakery products, The Bake Whisperer is
planning to use equipment including bread cooler, flour sifter, dough moulder, rounder, bakery
oven, dough mixer, intermediate proover, dough mixer and hence forth.
Details of business: Premise of The Bake Whisperer will be located at centre of London,
UK. By using physical stores and online apps, the company will provide its products to end
customers. One tier channel management strategy will be used by entrepreneurial managers so to
avoid intermediaries in satisfying neds of end customers (Rose, 2021).
Legal considerations: In The Bake Whisperer, various legislations will be adhered by
entrepreneurs to carry out practices ethically. Some of legislations are National Minimum Wage
Act 1998, The Equality Act 2010, Health and Safety at Work etc Act 1974, Food Safety Act
1990 and hence forth.
SWOT Analysis
For The Bake Whisperer, SWOT Analysis is underneath:
Strengths:
 The business will adopt eco-friendly
practices.
 The Bake Whisperer will offer variant
of bakery products keeping health
conscious level of customers.
Weaknesses:
 As The Bake Whisperer is new
business, it lacks professional staff.
 At present, brand awareness of new
business is less and requires more
emphasis towards branding.
Opportunities:
 The Bake Whisper sees diverse
opportunity in market as there are huge
potential customers.
Threats:
 As target zone is restricted, there are
few customers of The Bake Whisperer
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 The company must find ways for
incorporating additional services in its
operations (Tipu, 2019).
which is its biggest threat.
 Key rivals of new business are Jacob
The Angel, Cutter & Squidge, Bread
Ahead and many more having strong
brand value.
Financial requirement
In context to The Bake Whisperer, financial requirements are as follows:
Estimated cost of sales and expected selling price
Fixed and running costs for The Bake Whisperer
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Profitability and breakeven analysis of The Bake Whisperer
CONCLUSION
From the mentioned information, it is concluded that business plan is written document
entailing description along with overview of future of an entity. It must explain strategy for
carrying out practices. PESTLE analysis provides overview of macro environment wherein a
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company is planning to operate. Competitive analysis provides insights about what other brands
define as why. Operations plan is sequential activity that outlines all planning about day to day
working and processes needed for successful business.
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REFERENCES
Books and Journals:
Finch, B., 2019. How to Write a Business Plan: Win Backing and Support for Your Ideas and
Ventures. Kogan Page Publishers.
Götz, J., 2020. Business Plan. In Seasonal Affective Disorder and Light Therapy (pp. 165-203).
Springer, Wiesbaden.
Hanák, R. and Grežo, M., 2020. The effect of entrepreneurial experience on the quality of a
business plan proposal in applying for angel investment. International Journal of
Entrepreneurial Venturing. 12(6), pp.617-647.
Hopp, C., Greene, F.J., and Samuelsson, M., 2018. Revisiting the influence of institutional forces
on the written business plan: a replication study. Management Review Quarterly, 68(4),
pp.361-398.
Jukova, E. E., Ilina, I. Y., and Zotova, A.I., 2019. Planning a new business: typical mistakes of a
business plan in the service sector. Journal of Environmental Management &
Tourism, 10(3 (34)), pp.441-447.
Katz, J. A., 2018. The business plan: reports of its death have been greatly exaggerated.
In Annals of Entrepreneurship Education and Pedagogy–2018. Edward Elgar
Publishing.
Mariani, G., Bartoloni, L. and Morelli, D., 2019. Managing uncertainty in the start-up
environment: is a business plan an incentive or a limitation? Managing uncertainty in
the start-up environment: is a business plan an incentive or a limitation? pp.73-96.
Masciocchi, B., 2020. How to make a business plan. In Studies in Surface Science and
Catalysis (Vol. 179, pp. 465-484). Elsevier.
Moro Visconti, R., 2019. How to prepare a business plan with excel. Available at SSRN
2039748.
Rose, M. E., 2021. Writing A Business Plan For A Small Business.
Tipu, S. A. A., 2019. Business plan competitions in developed and emerging economies: What
do we still need to know?. Journal of entrepreneurship in emerging economies.
TOMASSONI, M., 2019. Development of a business plan for the expansion of CESI's operations
on the IFI hydropower market.
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