Justifying the Viability of a Bakery Business Proposal Plan
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Added on 2023/06/11
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This presentation showcases a new business proposal plan for a bakery, including market information, operational plans, and growth strategies. Justification and viability of the business idea are also discussed.
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Contents Introduction Type and description of business Business objectives Market information Operational plan Strategy for growth and development Justification and viability of business idea Conclusion
Introduction The process of implementing a business idea into a start-up for the purpose of earning profits is known an entrepreneurship. It refers to the creation of value through providing consumer with goods and services which is related with factors of risk taking and applying innovation in the process. In this presentation, a new business proposal plan of a bakery is being showcased considering all the relevant elements.
Type and description of business The business of bakery would operate under the label of “ Sweet tooth bakers” which would be sole proprietorship. Thisbusinessproposalplanisassociatedwith establishment of a enterprise dealing in cakes, pastries and confectionery items etc. Sweettoothbakerswouldbedealinginproviding consumers with a range of varieties in cakes and pastries, muffins, puddings as well as various confectionery items.
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Business objectives The objectives of this business is to cater the requirements of a range of individuals through offering the finest quality of items and customisation in products. It aims at building a brand image and to gain significant recognition in the market and in the mind of consumers.
Market information The bakery industry is a significant and prominentbusinesssectorinUnited kingdom which provides consumers with a wide alternatives and choices. ThemarketofbakerysectorinUK approximately accounts for generation of revenues in £3.9 billions marking it as a very relevant industry of the nation.
Operational Plans This business would operate in a rented space which is to be situated at a centre location in London to attract maximum individuals and ensure maximum customer engagement. Forthepurposeofperformingcommercial operations of the enterprise, a shop having area of 1000 square ft. would be occupied having two floors.
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Continue Theoperationalplanforthisbusinesswouldbe supported with efficient labour in order to produce commodities for selling purpose. In order to manage the functions of the enterprise, the sole proprietor of the bakery would mostly perform the activities of management.
Strategy for growth and development To attain progress in the long run, in initial phases, the enterprise would focus upon delivering consumers high quality of cakes and pastries at relatively lower prices. The enterprise will also be engaging in customisation of itemswherecakeswillbedesignedaccordingto specifications of customers.
Justification and viability of business idea This business idea is viable in the long run as consumers are inclined towards products of confectionery and cakes and pastries are always enjoyable by individuals. There is a growing trend among consumers for gluten-free and low sugar substitutes of cakes and breads and thus it would attract maximum number of customers.
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Conclusion From this presentation it has been concluded that a businesses start-up is associated with strategical planning of objectives and operational plans. Furthermore, implementation of these plans in practice is quite a challenging task which requires high expertise and skills of management. The business plan of opening a bakery seems viable in the long run as it is an emerging trend among consumers and the consumption of breads and cakes as well as muffins and other confectionery items.
References Morozova, I.A., Popkova, E.G. and Litvinova, T.N., 2019. Sustainable development of global entrepreneurship: infrastructure and perspectives.International Entrepreneurship and Management Journal,15(2), pp.589-597. Tipu, S.A.A., 2018. Business plan competitions in developed and emerging economies: What do we still need to know?.Journal of entrepreneurship in emerging economies. 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. Secundo, G. and Capaldo, G., 2020. Facilitating Business Startup Launch: An Interpretative Framework Based on Project Management. InInnovative Entrepreneurship in Action(pp. 55-69). Springer, Cham. Rasmussen, E.S. and Tanev, S., 2020. Lean startup. InStart-Up Creation(pp. 41-58). Woodhead Publishing. Jolana, H., 2021.Business plán pro startup(Master's thesis, České vysoké učení technické v Praze. Vypočetní a informační centrum.).