LUBM302 New Venture Creation Assessment Business Plan

This business plan is for The Heavens Cake Studio, a bakery shop in London, UK. It includes market analysis, SWOT, PESTLE, and financial projections. The UVP of the bakery is providing customized cakes and chocolates, ensuring hygiene, gluten-free, and low calories. The marketing strategy is to target all age groups and provide free home delivery. The revenue of the bakery is expected to reach £4-5 Lac in the upcoming years.

Business plan
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1. Executive summary
Business plan is an idea of individual to transfer in reality. It is a written material that
presents in detail objectives of organization and how it frames to accomplish the goals. The main
intent of business plan is to recognize, exposit and analyse the business chances. In below report,
the business idea is related to bakery industry and analyse the market scenario, SWOT, PESTLE
to figure out the factors which is exist in the micro and macro environment. They identified the
opportunity analysis and research for the purpose of growth of the organisation. The business
name is the heavens cake studio which is initiated by the johns. It is related to bakery industry
which deals in cakes, breads, cupcakes, brownies and so on. It has many competitors like Layla
bakery, butter and crust and so on. All the analysis discussed below:
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Contents
1. Executive summary.....................................................................................................................2
Contents...........................................................................................................................................3
2. Business description:...................................................................................................................4
3. Unique value proposition:............................................................................................................4
4. opportunity analysis and research................................................................................................5
4.1 explanation and justification of the chosen market...............................................................5
4.2 Industry analysis....................................................................................................................5
4.3 environmental analysis..........................................................................................................6
4.4 competitive analysis...............................................................................................................8
5. Marketing strategy and plan........................................................................................................8
6. Management and operations........................................................................................................9
6.1 Management team and ownership details..............................................................................9
6.2 Roles of team members, skills and qualification.................................................................10
6.3 Training needs analysis........................................................................................................10
6.4 organizational chart.............................................................................................................11
7. Financial analysis and projections.............................................................................................11
7.1 Sources and uses of capital..................................................................................................11
7.2 Cash flow projections:.........................................................................................................11
7.3 Balance sheet projections......................................................................................................1
7.4 Income statements.................................................................................................................1
7.5 Break even analysis...............................................................................................................1
7.6 Exit plan:................................................................................................................................1
7.7 Milestones:.............................................................................................................................2
REFERENCES................................................................................................................................3
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2. Business description:
John is the owner of the “The Heavens cake studio (Love in the heaven's cake)” it is a
bakery shop which is established in baker street, London (UK). It provides the gluten free cakes,
chocolates, pastries, cupcakes, chocolate shots, waffles and other bakery items (Anicama, 2018).
Vision:
“It is ablaze about baking advanced products which have great taste and satisfying the consumer
in every and each eating experience.” it never compromises with the product's quality, values of
family and the customer trust. It will work hard for providing the customer expectations in every
order.
Mission:
The main purpose of the heavens cake studio is “provide high quality products, customized
goods and consumer experience by using best ingredients and new techniques.
Objectives:
 Increase the market share of goods and services.
 Builds relationship with the customers.
 Enhance the brand and reputation.
 Ensure the fair cost of the products for consumers.
 Provide customer satisfaction and ensure them to better quality.
3. Unique value proposition:
It is the process of rectifying the potential customers and telling them the benefits or
advantages, discounting offers of the product of the heavens cake studio. It helps to enhance the
business from the other competitors in existing market. In context to bakery industry it refers to
uniqueness of its product and services i.e. how they are selling their product and how they are
offering goods and what are they doing for satisfying the customer's wants and needs in the
comparison of other competitors (Dahan, 2019).
UVP of the heavens cake studio:
 Provide customized cakes and chocolates.
 Ensure the hygienes, gluten free, low calories. Using tag lines to attract the consumers like its tag line is “Love in the heaven's cake”
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4. opportunity analysis and research
This process helps to growth for the business and necessary to performed for better result
of the company on the frequently basis. In other words, it is a tool to analyse the market
opportunity of the organisation.
4.1 explanation and justification of the chosen market
The business has broad market to target. He has chosen to target all age category of
people such as children, adults, younger, old age and etc. As they provide all kind of desserts or
cake and breads so all the age group of people prefers these items. It gives different categories of
products like eggless, gluten free, sugar free and so on. Everyone has their own choice so they
can choose according them like some wants more creams, other wants eggless, low calories and
so on (El-Hiary, 2021).
4.2 Industry analysis
It examines the producing or manufacturing, service, selling and purchasing of particular
branch.
Bakery industry analysis: To analyse the bakery sector, porter's five forces are very beneficial to
examine the competitive scenario which is faced by this sector. This model helps to identify the
average profit that is not able to cover the capital cost.
1. Internal rivalry: It helps to identifying the no. of strengths or competitors i.e. who they
are, how does they attract the customers and what goods and services does they offer. In
this industry, there are several competitors so the owner of the heavens cake studio can
attract the customer by offering goods at discounted price or they can enhance their
quality according to the competitors’ products.
2. Supplier power: It refers to the number of suppliers. This power decides the switching
cost. If there are many suppliers so it will be easy to switch another supplier due to
increase in cost and as opposite, if there is less supplier then the switching cost will be
high. In this industry, in UK there are number of bakeries. The company should have no.
of suppliers cause in the case of charging the high price by the supplier so they can easily
change the supplier. It would be cheaper alternative for the heavens cake studio
(Gerkens, 2018).
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3. Buyer power: It includes the no. of buyers. If there is huge number of competitors, then
power is high. It is affected by how many buyers or a customer an organization has, how
significant each customer is, and how much it would cost a company to find new
consumers or markets for its output. In this sector, the heavens cake studio has no. of
competitors such as Dominique Ansel, honey and spice, cafe royal and etc. so it's
bargaining power of customers is high (Göbl and Froschmayer, 2019). Consumer has
power to change the level of prices of the products and services.
4. Threat of substitute: Companies that produce goods and services for which there are no
close substitute will have more power to increase prices and lock in favourable terms. It
refers to those products which can be used in place of each other. If the company has less
close substitute product, then business has the ability to charge higher prices from the
customers and can maximize their profit. But the heavens cake studio has the higher
competitive brands so there exists a large number of goods of bakery So customer can
easily change their preferences.
5. Threat of new entrants: A company's power is also affected by the force of new entrants
into its market. An organisation is also affected by the force of new entrants in to the
market. Company have to invest high financial resources to established their presence in
the retail market therefore the threats of new entrants can high in this baker’s industry
because Small bakery can easily enter the sector with little amt. of capital. A high level
of market saturation is another factor that prevent enterprises from this market segment
(Hajar and et al., 2018).
4.3 environmental analysis
It identifies the external and internal factors that impact the organization. It guides people like
professionals and senior managers. It affects the company negatively as well as positively.
PESTEL analysis: It mainly concentrate on the external key factors that impact the
organization's growth or profit maximization (Ittner and Novak 2018). It promotes business
management to consider strategically and give speedily response to the extrinsic scenario
changes for the purpose of avoiding and reducing the negative effects on organization's
operations.
Political factors: It is the 1st element of this framework that shows the effects on company. It
helps to decide or fix the organization's long term preservatives. These components involve
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taxation rules and policies, trade regarding regulations and etc. Thus it determines the overall
company scenario. This environment appears to favour the producing sector that involve food
and beverage sector like the heavens cake studio in effort to holding the economy of the
business.
Economic analysis: It consists multifarious variables which impact the organisation directly i.e.
company's capability to accomplish their economic accusative (Janíček, 2018). The heavens cake
studio must get all the necessary components to expected the short term as well as long term
business enterprise growth in bakery industry. Cause this factor can threat the heavens cake
studio in UK due to the decreasing or refusing the core harmony to these kind of industries. The
UK has organized the insurance, company and banking industry because they furnish with the
help of huge gross domestic product in comparison to other industries. The recession of
economic global can be pushed the heavens cake studio into decline.
Social factors: These components show the demographic attributes, values of social, society
customs in company operations. The heavens cake studio should handle the social components
carefully. The infinite changes have seized the area in social factor in order to the food and
beverages companies in the UK. The heavens cake studio should have ensured that the
manufacturing products meet the required demands, needs and health cause in today's scenario
people is getting more aware regarding health issues.
Technological analysis: In today's scenario, most of the organisations are investing in
technologies to better outputs, battle with the competitors. It is necessary for the heavens cake
studio to figure out and expect the active and upcoming technologies trends to stay longer. This
factor affected the heavens cake studio positively. Providing information and good
communication is best technologies to attract the consumer according to market base (Jougleux,
2018).
Environmental analysis: It has achieved necessary data or information regarding contemporary
organisation's environment with the help of increase in stakeholders towards stability and
securities. The heavens cake studio should have accomplished all the data, rules and regulations
in detail to neglecting the any environment law and reputational regarding obstacles which are
existing in the market. The heavens cake studio should behave or act in socially liable way. It has
been managed by the governance of corporate, rules which is specified by the laws of UK on
producing goods. The organisation should ensure the environment damages and wastes.
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Legal analysis: These factors helps to give all the data and information those are related with
various laws or regulations in detailed (Kolhoff, 2020). In the business, there involves mainly
consumer and employee's health and safety issues or protection laws. The heavens cake studio
can bear with highly legal proceeding due to getting fail to obey with the nation's legislations.
The heavens cake studio can be affected through the legislations of Govt. which is related with
the FRC (food retailing commissions). And the government of UK informs policy of monopoly
that impacts the accessibility of raw materials which can also impact their productions.
4.4 competitive analysis
It is kind of strategy that includes the research of competitors which helps to achieve the
goods, sales and tactics of marketing. It helps to implement the company's strategies strong. This
industry has high competition because in this sector all small and medium size firms can easily
enter (Lovirutsutee, 2018). There are huge comparisons which is based on cost, qualities, USP
and many more. There are number of competitors in this industry such as Layla bakery, butter
and crust, pickles and bake, buns from home and so on. Revenue: The average revenue of bakery industry in UK is £3.9 billion and the Layla
bakery or the butter and crest's revenue are £10-15 lac approximately. The heavens cake
studio has £4-5 Lac as this business has started recently. In upcoming 2-3 years the
revenue of this bakery can reach there. Pricing: The price of Layla bakery's product is between £5- £10 range. But the cost of
the heavens cake studio is £3-5 of same goods. So this can attract more customer to
reach the target customers and make their image in the market segmentation.
 Marketing strategy: It has played a vital role in each and every business firms and
startups. The strategy of heavens cake studio is to target the all age of people group
either old age, adults, younger and children. As its tag line is “love in the cake” it is
attracting the mature and juniors people who can fascinate more and quickly.
5. Marketing strategy and plan
It is long time period plan for gaining any organization goals and aims with the help of
identification of customer's needs and wants. It helps to business to create the sharp and
sustainable benefits of competitors (Maharani, 2018). In this strategy 4Ps are included which are
discussed below:
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 Products: It refers that what the organization is selling to the target consumers and how
they satisfying the costumer's needs and wants. The heavens cake studio has many
products which they dealing with the users such as breads, pastries, cupcakes, buns and
son on. Their targeting customers are all age group persons and individuals. They provide
customized cakes and free home delivery that can little bit differ from the competitors as
layla bakery does not provide customized cakes and other items. Price: It defines the cost of goods i.e. the amount which a customer has to pay on a
particular product while purchasing. It should be very reasonable according the goods
quantity, quality and brand value. It means both the parties can take advantages in other
words, it should be beneficial for both consumer as well as the producer or seller. So the
owner of this organization has decided their price very wisely or under considering the
other competitor’s products and services. Cost should not be so higher or so less. It's
price range is £3-10. Place: It contains that particular area where the company sells the products and reach the
customer with the help of the distribute channels like retailer, whole seller and so on. The
heavens cake studio will sell their products in crowded area where all type of age group
comes like amusement park, schools and coaching, near the shopping mall and movie
theatres and so on with the help of retailer and middlemen (Mercado Santana, 2018).
 Promotion: It includes that how the organisation advertises their goods and services. It
plays very important part of any business (Romadhon, 2020). With the help of the
promotion any business firm can achieve the target audience with effective marketing.
There are a number of product of promotions. It varies business to company like word of
mouth, ad in newspaper, televisions, through personal meetings. This organization should
use print advertising sources, give ad in newspaper, print the pamphlets, with the help of
social media and other resources. Best time to target the customer is evening time and
night.
6. Management and operations
6.1 Management team and ownership details Chief executive officer: The heavens cake studio's CEO is john. He is responsible for
everything. He decides the organization's strategy. He takes the final decision of the
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business regarding resources. He should be able to think strategically where the
organisation is headed. Chief operating officer: The COO of this company is Annie. He helps organization to
manage their complex operable details. He makes sure the company can deliver on
continuously basis. He checks out the all the things which is related with the
manufacturing, supply and so on. President: George is the president of this organization. He does number of work for the
business. He keeps watch the functions of staffs like HR, finance team and so on. Chief financial officer: Russell is the CFO of the heavens cake studio. He manages the
money. He checks out the what is better option to the company between lease or buy. He
tries to create a control system which help to business financial health.
 Chief marketing officer: The CMO of this business is Churchill. He figures out the
business market position. Company affects with the market strategy such as revenue and
profits. They depend on the business activity and position in the market.
6.2 Roles of team members, skills and qualification
There are number of roles and responsibilities of members of this organization. As it is a
part of bakery industry so team members should be motivated and experienced in making breads.
Roles vary on position of the employees (Naftalia, Sinin and Felina, 2022). Such as a person has
to operate the activity, other person has to manufacture the products, and some has to deliver,
supply, billing and so on.
Every team member must have communication skills written and oral, quick decision making,
problem solving, innovative and so on. Qualification also depends on the position of the
employee. For example, the CEO of the company must have higher qualification like MBA and
other relevant studies. On the other side for sale force does not need any higher qualification.
6.3 Training needs analysis
It is a method through which business analyse the trainings and improvements that has to
be needed to give the employees of the organizations so that they would be able to do their
responsibilities in effective manner. The heaven cake studio should train the employees by
giving them proper session on time like they should be taught new advanced technologies
regarding bakery products so that they can do new innovation by own (Nik Pa and et al., 2021).
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6.4 organizational chart
7. Financial analysis and projections
7.1 Sources and uses of capital Personal investment: It is most common and less risky source for small start-up plan like
the heavens cake studio. The owner of this organisation used this capital to purchase
fixed assets like shops and bakery equipment’s. Debts from relatives: It is big source of any business man. They give the money in the
form of equity and debts. The capital has used this for the interior of bakery.
 Angel investors: It refers to wealthy particular person such as friends and relatives. There
are number of private investors of angels in UK that invests in small business every year.
7.2 Cash flow projections:
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CEO
JOHN
Manager CMO CFO
COO
ANNIE
Bar Manager Head bakery chef
Bar staff Bake staff
cashier Waiter staff

Cash flow Statement
Particular January Feb March April May June July August Septe
A. Cash flow from operating activities:-
Sales/Revenue £2,000.00 £2,200.00 £2,420.00 £2,662.00 £2,928.20 £3,221.02 £3,543.12 £3,897.43 £4,2
Rent Paid £110.00 £110.00 £110.00 £110.00 £110.00 £110.00 £110.00 £110.00 £11
Staff salaries £400.00 £400.00 £400.00 £400.00 £400.00 £400.00 £400.00 £400.00 £4
Phones £20.00 £23.00 £26.45 £30.42 £34.98 £40.23 £46.26 £53.20 £
Postage £100.00 £101.00 £101.00 £100.00 £110.00 £102.00 £103.00 £101.00 £1
Promotion and advertisement £120.00 £120.00 £120.00 £120.00 £120.00 £120.00 £120.00 £120.00 £1
Travelling and motor exp. £110.00 £110.00 £110.00 £110.00 £110.00 £110.00 £110.00 £110.00 £1
Insurance £300.00 £300.00 £300.00 £300.00 £300.00 £300.00 £300.00 £300.00 £3
Repairs and Maintance £20.00 £22.00 £24.20 £26.62 £29.28 £32.21 £35.43 £38.97 £
Mixc Expense £17.00 £18.00 £20.00 £15.00 £20.00 £18.00 £18.00 £17.00 £
Net cash flow from operating activites:- £3,197.00 £3,404.00 £3,631.65 £3,874.04 £4,162.46 £4,453.46 £4,785.81 £5,147.61 £5,56
B. Cash flow from financaing activities:- £- £- £- £- £- £- £- £- £
Net Cash flow from financing
activities:- £- £- £- £- £- £- £- £- £
C. Cash flow from Investing activities:-
Initial investment made £15,000.00 £- £- £- £- £- £- £- £
Net cash flow from investing activities:- £15,000.00 £- £- £- £- £- £- £- £
Total cash inflwo/outflows(A+B+C) £18,197.00 £3,404.00 £3,631.65 £3,874.04 £4,162.46 £4,453.46 £4,785.81 £5,147.61 £5,56
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7.3 Balance sheet projections
Statement of financial Positon for the year
ended
Particular Year 1
Shareholders’ Funds:-
Net Profit for the year ended £8,369.23
Capital £15,000.00
Non-Current Liability:-
Long term liabilities -
Current Liability:- £12,000.00
Total (A) £35,369.23
Non-Current Assets:-
Other Non-Current Assets £20,000.00
Current Assets:-
Inventory £9,000.00
Cash and Cash Equivalent £6,369.23
Total (B) £35,369.23
7.4 Income statements
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PROFIT & LOSS FORECAST FOR THREE YEARS
Particulars
Janu
ary
Febr
uary
Marc
h April May June July
Augu
st
Septe
mber
Octo
ber
Nove
mber
Dece
mber
TOT
AL
Sales / Income
£2,00
0.00
£2,20
0.00
£2,42
0.00
£2,66
2.00
£2,92
8.20
£3,22
1.02
£3,54
3.12
£3,89
7.43
£4,287
.18
£4,71
5.90
£5,187
.48
£5,70
6.23
Less Materials Cost
£300.
00
£345.
00
£396.
75
£456.
26
£524.
70
£603.
41
£693.
92
£798.
01
£917.7
1
£1,05
5.36
£1,213
.67
£1,39
5.72
Less Direct Wages
£500.
00
£550.
00
£605.
00
£665.
50
£732.
05
£805.
26
£885.
78
£974.
36
£1,071
.79
£1,17
8.97
£1,296
.87
£1,42
6.56
£10,69
2.14
GROSS PROFIT
£1,20
0.00
£1,30
5.00
£1,41
8.25
£1,54
0.24
£1,67
1.45
£1,81
2.36
£1,96
3.42
£2,12
5.07
£2,297
.68
£2,48
1.56
£2,676
.95
£2,88
3.96
£23,37
5.93
Operating
Expenses
Staff Salaries
£400.
00
£400.
00
£400.
00
£400.
00
£400.
00
£400.
00
£400.
00
£400.
00
£400.0
0
£400.
00
£400.0
0
£400.
00
£4,800
.00
Rent & Rates
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.0
0
£110.
00
£110.0
0
£110.
00
£1,320
.00
Insurances
£300.
00
£300.
00
£300.
00
£300.
00
£300.
00
£300.
00
£300.
00
£300.
00
£300.0
0
£300.
00
£300.0
0
£300.
00
£3,600
.00
Postage &
Stationery
£100.
00
£101.
00
£101.
00
£100.
00
£110.
00
£102.
00
£103.
00
£101.
00
£111.0
0
£121.
00
£120.0
0
£121.
00
£1,291
.00
Repairs &
Maintenance
£20.0
0
£22.0
0
£24.2
0
£26.6
2
£29.2
8
£32.2
1
£35.4
3
£38.9
7 £42.87
£47.1
6 £51.87
£57.0
6
£427.6
9
Travelling & Motor
Expenses
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.
00
£110.0
0
£110.
00
£110.0
0
£110.
00
£1,320
.00
Telephone
Expenses
£20.0
0
£23.0
0
£26.4
5
£30.4
2
£34.9
8
£40.2
3
£46.2
6
£53.2
0 £61.18
£70.3
6 £80.91
£93.0
5
£580.0
3
Advertising &
Promotions
£120.
00
£120.
00
£120.
00
£120.
00
£120.
00
£120.
00
£120.
00
£120.
00
£120.0
0
£120.
00
£120.0
0
£120.
00
£1,440
.00
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Miscellaneous
Expenses
£17.0
0
£18.0
0
£20.0
0
£15.0
0
£20.0
0
£18.0
0
£18.0
0
£17.0
0 £20.00
£20.0
0 £20.00
£25.0
0
£228.0
0
TOTAL
EXPENSES £
£1,19
7.00
£1,20
4.00
£1,21
1.65
£1,21
2.04
£1,23
4.26
£1,23
2.44
£1,24
2.69
£1,25
0.17
£1,275
.05
£1,29
8.52
£1,312
.79
£1,33
6.11
£15,00
6.72
Net Profit (Loss)
Before Tax £3.00
£101.
00
£206.
60
£328.
20
£437.
19
£579.
92
£720.
73
£874.
89
£1,022
.62
£1,18
3.04
£1,364
.16
£1,54
7.85
£8,369
.21
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7.5 Break even analysis
It refers the financial evaluation of any business that measures the cost of new
organization. It analyses the goods or service against the unit selling price to decide the point at
that they both meet. In other words, it helps to tell the company position at what stage they will
get more profit (Osman and et al., 2019).
There are two factors or components of BEP analysis. Fixed cost: It contains those elements which are considering to stay fixed in years. It
affects directly to production level. It does not affect the cost which occur during the
manufacturing time. Such as rent, machinery maintenance, salaries, and so on.
 Variable cost: These can be reducing and rises according to the manufacturing the
products or production level (Roldán Villanueva, 2020). Such as raw material,
advertising cost, packaging cost and others.
Calculation of breakeven
Revenue 38871
less: VC 2527
Contribution 36344
less: FC 12480
Profit 23864
BEP= Fixed cost/ PV ratio
= 12480/ 93.50
= 133.47
P/V ratio = Contribution/sales*100
= 36344/38871*100
= 93.50%
7.6 Exit plan:
The owner of this business should have pre planning of exit if the company is not able to gain
profit. In that case they can exit the plan but there should some condition while exiting those are-
company should gain at least some outcomes from the business so that they can cover their initial
investment, capital and others sources. Otherwise company might be in debts.
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7.7 Milestones:
The owner of the heavens cake studio has number of key factors to develop in future for
growth of his business (Pöchtrager and Wagner, 2018). The main aim is highest reach in the
market. For this the businessman should have analysed the needs and wants of the customers as
well target audience. After creating the goods and service he should acquire the market
validation because it helps to identify the products i.e. it is beneficial for the customer or
consumer is taking interest in buy the services or not.
CONCLUSION:
As per the above discussion, it is concluded that the business idea of initiated the bakery which
has named the heavens cake studio can be successful i.e. they can grab the market or maintain
their good position in the market if they followed the steps which has been discussed in above
report. SWOT and PESTLE analysis helps to evaluate the competitors position that can influence
the business idea. Market operation and research aids to analyse the market scenario and growth.
Projected financial projection has been made for the purpose of estimate the business finance
activities and maximization the profitability to grow the company in future.
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REFERENCES
Books and Journals:
Anicama, M.G.M., 2018. Consulting Report-Bigmond Mexican Market Entry Business Plan
(Doctoral dissertation, Pontificia Universidad Catolica del Peru-CENTRUM Catolica
(Peru)).
Dahan, L., 2019. Business development plan for a start-up tax firm (Doctoral dissertation,
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