Starting a Cake Shop: Cupcake Glory

Individual
Concept
Document

Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
Section 1..................................................................................................................................................3
Section 2..................................................................................................................................................3
Section 3..................................................................................................................................................6
CONCLUSION...............................................................................................................................................8
REFERENCES................................................................................................................................................9

INTRODUCTION
A business idea refers to a concept which can be used for the purpose of financial gain
and is centered on a particular product or a service (Amaeshi and Idemudia, 2017). This can
therefore lead towards earning of profits. In this report, detailed analysis will be made on a new
business venture. The name of this venture is Cupcake Glory. It is a cake shop making cakes on
the orders of various types of customers and clients according to their needs and requirements. In
this report, analysis will be made on presentation of original business concept, discussion of
testing of business concept. Also, analysis of second iteration of business concept will be made
as a part of this assignment.
MAIN BODY
Section 1
Businesses have to be started by taking a lot of risk by the entrepreneurs (Han, Shi and
Childs, 2016). As I have always wanted to do something of my own and have entrepreneurial
spirit inside me I decided to start my own business which is related with making cakes as per
orders of customers and clients.
Rationale- The rationale to start Cupcake Glory is that people want specific types of
cakes made as per their needs and requirements and according to their own specifications which
many bakeries are unable to make. This gave me an idea to start a separate business which deals
only in cakes. Here, there will be readymade designs of cakes as well as there will be cakes made
as per specific requirements of the customers. The customers and clients can make the required
customizations in their orders as desired by them so that it meets their needs and requirements.
Feedback- I received a positive feedback of the idea from the customers. I did an
extensive market research and survey to capture the mindset of the customers and what exactly
do they desire from such a business. Accordingly, I have finalized a plan for starting this new
business venture. I hope that due to positive feedback this shop will earn high profits. In this way
it will be able to serve the customers and clients effectively and efficiently without any problems
and issues.
Section 2
Testing of business concept- It is very important for an entrepreneur to test the business
concept before finally adopting it. This will make sure that it is feasible enough to be adopted
and thus in this way will become profitable for the entrepreneur. There are various steps in the
testing of business concept. These are explained as follows-