Business Proposal for The Hummingbird Bakery

Business
proposal on:
the
hummingbird
bakery
S T U D E N T N A M E :
B U C K S I D :

Introduction
In this business proposal I will be discussing the following;
Motivation for choice of business:
The process you went through to generate this business idea
Feasibility studies conducted
Details of the product/service to be offered
Potential market opportunities
Attractiveness of the industry
Vision for your business

Motivation for choice of business
o Increasing demand for organic baked items in the food & beverage industry
oIncreasing willingness of consumers to select and pay for organic items from the food menu
oThe humming bird bakery would like to introduce this item for health conscious and environment friendly customers.
oAs per previous experiences in launching vegan items in the hummingbird bakery, there is always an untapped need that can be
aimed towards customer satisfaction.
oThe need for more natural flavors and preservatives for better shelf-life which can be achieved through organic produce and raw
materials.
oHigh demand for staple baked items like bread production using organic materials.
oIncreasing the brand equity through environment friendly approaches in the industry.
oHigh market feasibility and gaining new customer segments.
oTo gain higher profit margin through introduction of the premium segment in the organic product line (Łuczka, 2019).

Process you went through to
generate the business idea
Brainstorming
To generate the initial idea, the company has gone through brainstorming. Initially the problems in the company were identified, which
were mostly related to lower sales turnover, lack of uniqueness, potential demands for healthy food and untapped markets. The
business trends were identified and the operations of competitors and other bakeries were observed and analyzed. The issues were
determined on an individual levels and creativity was promoted for identification of business ideas of untapped markets and relevant
solutions. Various solutions were identified to counter issues and critical analysis was done : diabetic friendly baked items, premium
segment items for special occasions and a new product line made from organic products. The final business idea for introduction of
entire product line made from organic product was found to be most feasible and appropriate (Besant, 2016).
Focus groups
Focus group refer to small group of people in the identified target market who undergo a guided discussion for assessment of
prospects of the business idea, evaluation of market idea, the amount customers might be willing to pay for, revelation of potential
competitors and fine tuning of the product for better positioning. A focus group of 10 people will be selected and handed over a script
for discussion and will be recorded in order to understand the facial expression and meanings regarding the business idea of organic
baked items. The focus was more upon the customers rather than business idea and insights from the participants were gathered such
as the benefits they want from the product, the reason they would purchase it and the amount they might may for this and what they
don’t like regarding the product. All observations can be carefully recorded and noted and the idea will be carried forward.