Entrepreneurship Module BMS508: Starting a Bakery Business

This report discusses the process of starting a new business, specifically a bakery called Cookies World. It covers determining the business idea and overview, objectives of the business, market analysis, operational plan, market strategies, financial allocation, and revenue model. The report is part of the Entrepreneurship Module BMS508.

Entrepreneurship Module
BMS508

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Determining the business idea and overview...............................................................................3
Objectives of the business............................................................................................................3
Market Analysis ..........................................................................................................................3
Operational plan for the business ................................................................................................4
Market strategies..........................................................................................................................4
Financial allocation......................................................................................................................5
Revenue model.............................................................................................................................5
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship refers to the start up of new business. It has been considered as broad concept
as starting new business leads to focus on many elements (Aaker and Moorman, 2017). A proper
stages of business development has to be taken. So, the process of entrepreneurship can provide
the positive outcomes. This report will illustrate the new business idea and along with this it also
highlights the major elements that are important in the start up of the new business.
MAIN BODY
Determining the business idea and overview
The business idea that has been chosen is opening up a bakery. The name that has been decided
for the bakery is “Cookies world” This is the best start up idea as it requires the low investment
and leads to provide the profit. The products that will be produced are the food items such as,
cookies, cakes, pastries and biscuits. It has been found from various research that the customers
are fond of trying different flavours in relation of the baked items (De Pelsmacker, Van Tilburg
and Holthof, 2018). Therefore, the products that has been made in the bakery will provide the
assurance in relation of providing the baked items in different flavour.
Objectives of the business
The objectives of the business has been considered as the final goal that has been determined
within the business. Without objectives the business cannot get successful. Here are the major
objective of the Cookies world:
Full-filling the customer satisfaction- This is the main aim of the chosen business. The
customer will gain the different and unique experience after eating the food. Customers want
quality food in affordable price. The business will assure this.
Maintaining the food safety standard- It is important for the food organizations that they have
to follow the set standard of the food safety. As the hygiene plays the important role in the
adding effectiveness in the health (Fabozzi and Fabozzi, 2021). This is the objective of the
business that by following the food safety standard the business will ensure the health to the
customers.
Market Analysis
The market Analysis determine the needs and wants of the customers. It has been found from
various studies that taste of the customers changes rapidly for the bakery items. The customers
have a desire to try new flavours. Therefore, the cookies world will provide the different flavours

to the customers in affordable prices. The another element that has been found in the research is
that, the consumers are highly concerned with the health. Therefore, the chosen business will put
a keen focus over maintaining the food safety standards.
Targeted market:
Targeted market refers to approaching the selected segment of the consumer for the business.
The consumer segment for the Cookies world will be:
Demographic segmentation- This involves the age, gender and occupation of the consumers
(Zahorskyi and et.al., 2019). The business will approach the customer of all age as there is no
ending for the love of bakery products in the consumer of all age. The food items will be sold at
affordable price. Therefore, the consumers with any occupation can easily approach the products.
Behavioural segment- This involves approaching the consumer on the basis of their behaviour
(Rustamov, 2019). For example: the consumer has a habit of eating tasty baked items. Such
consumers have been considered as the targeted market for the cookies world.
Operational plan for the business
The operational plan determines the short- term and long-term strategies for the business. This is
the proper action plan in order to achieve the business objectives. Here is the description of the
operational plan for the cookies world.
Unique value proposition- It involves providing the unique value in the product so, the
competitive advantage can be taken and customers can get attract towards the product (Löbbers,
Hoffen and Becker, 2017). The cookies world will ensure the different flavours of cakes and
cookies at the affordable prices. The effective customer services has been also considered as the
part of the unique value proposition for the business.
Effective management- The cookies world will hire the employees and provides them training in
relation of preparing the food. And along with this, the employees are guided towards
maintaining the food quality and safety standard. Within guiding the steps of preparing the food,
the organization will provide the guidance in relation of presenting the food to the customers. As
a result, the staff will become more productive (Painter, Hibbert and Cooper, 2019).
Market strategies
After analysing the market needs & wants and implementing the operational plan now, next step
is to focus on the market strategies that helps in gaining the consumer in the market for cookies
world. The market strategies that has been adopted for the organization are:

Giving free samples- The customers will be given free samples of the products. This will leads
to the marketing of the bakery's products. As a result, the products will be liked by the
customers. And they will get attract towards the bakery more.
Using pamphlet- The pamphlet has to be used by the bakery in terms of providing add to the
customers. So, the customers can be aware about the opening of the new bakery and the items
that are available in the bakery.
Online platform- The bakery items will be available at online platform also the customers can
place order and within mention time the products will be delivered to them.
Financial allocation
This involves allocating the fund for carrying out the operations of the business. For starting the
cookies world, the initial investment has been made by taking the loans from the bank. And
afterwards the investors will be approached by issuing prospectus.
Revenue model
The cookies world has adopted the transactional revenue model. It refers to selling the products
to the customers and in return getting the revenue (Hein and et.al., 2019). This has been
considered as one of the best model for the start up businesses.
CONCLUSION
From the above report it has been concluded that, in order to start new business there are certain
factors that has to be kept focus on. As all the factors contributes in the success of the business.
An effective analysation of all those factors enables the business in carrying their operations with

the productivity. In order to ensure business development the major focus has to be made over
the customers and market scenario.

REFERENCES
Books and Journals
Aaker, D.A. and Moorman, C., 2017. Strategic market management. John Wiley & Sons.
De Pelsmacker, P., Van Tilburg, S. and Holthof, C., 2018. Digital marketing strategies, online
reviews and hotel performance. International Journal of Hospitality Management. 72.
pp.47-55.
Fabozzi, F.J. and Fabozzi, F.A., 2021. Bond markets, analysis, and strategies. MIT Press.
Hein and et.al., 2019. Value co-creation practices in business-to-business platform
ecosystems. Electronic Markets. 29(3). pp.503-518.
Löbbers, J., von Hoffen, M. and Becker, J., 2017. July. Business development in the sharing
economy: a business model generation framework. In 2017 IEEE 19th Conference on
Business Informatics (CBI) (Vol. 1, pp. 237-246). IEEE.
Painter, M., Hibbert, S. and Cooper, T., 2019. The development of responsible and sustainable
business practice: Value, mind-sets, business-models. Journal of Business
Ethics. 157(4). pp.885-891.
Rustamov, D.J., 2019. THE ROLE OF INVESTMENT IN SMALL BUSINESS AND PRIVATE
ENTREPRENEURSHIP. Столица Науки, 29.
Zahorskyi and et.al., 2019. Financial and administrative aspects of small business development
in Ukraine. Financial and credit activity: problems of theory and practice. 3(30).
pp.351-360.