This business plan is for establishing a bakery shop in London. It includes business summary, core products and services, current and future aims, and the amount of seed capital required.
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Table of Contents INTRODUCTION..........................................................................................................................3 TASK 1............................................................................................................................................3 Business summary.......................................................................................................................3 Core products and services..........................................................................................................3 Current and future aims...............................................................................................................4 Amount of seed capital required.................................................................................................4 CONCLUSION...............................................................................................................................5 REFERENCES................................................................................................................................6
INTRODUCTION Business may be defined as a process of undertaking any industrial, professional or commercial activitywith a sole motive to generate revenue and earn profit. It may refers to the efforts put on by an individual to produce and sell the goods or services for sole purpose of profit (Jukova and et. al., 2019). There are many types of business prevailing in the market which are categorised according to their size or form.According to the size of business, there aremicro, where less than 10 employees are appointed,smallwhere more than 10 and less than 50 employees are hired,mediumwhere more than 50 and less than 250 employees are employed and last islargeenterprises where more than 250 employee are hired. The different types of business according to form can be categorised into 4, where first issole proprietorshipwhich involves 1 owner who is responsible for the day to day operations of the business and has the sole authority to make decisions and all profits and earnings belong to him. Next ispartnership, where 2 or more persons agree to open a firm who are called the partners and share the ownership and responsibility of the business. An agreement is required to open a partnership firm. Another form of business is thecompanywhich involves minimum 2 members in case of private company and 7 in case of public company. The company is distinct from its owners and has its own common seal. It is an artificial personality. The incorporation and dissolution process of the company is complex and expensive. Another is thecorporationwhich also has a perpetual succession and has its own common seal. The incorporation of the corporation is a lengthy process which involves huge cost and formalities. This report shall cover a business plan which will include business summary, product or service offered, future aims and the amount of capital required.The form of business chosenfor this business plan is partnership because it involves cost effective establishment with less formalities. Only registration and an agreement is required to open a partnership firm. As a fresher and new entrepreneur, this form of business suits best for the people who areinterested in starting a business. TASK 1 Business summary This business plan is for establishing a business in a hospitality industry. The business proposal is for starting up a Bakery shop in London for attracting more customers to avail the
services. The business shall be established by 3 people in the form of partnership, who shall be called partners in near future. The proposed Bakery name is “CAREY BAKERY”, which will be situated in Street no. 3, Central London , UK. The shop chosen is of 800 sq feet which shall be rented on annual basis. The Bakery shall not have a sitting space and only takeaway services will be offered to customers. The target market is young people and children of any age. The bakery is proposed to be open due to its prevailing demand on the Street no. 3 as there is no bakery available in the nearby locations. So this business is best to target the customers and earn profit. Core products and services The range of products initially offered to customers shall include- Cakes for any occasion. Pastries Cookies Breads which includes White and Brown Cup Cakes Chocolate Donuts Fast Foods which shall include pizza, hamburger, foot long, hot dog, vegan sausage roll, snaking patties Cold Drinks(DeNoble and Zoller, 2017). Current and future aims The main aims of the proposed business shall be as follows- To reach a level of daily 50 customers in 1 month. To increase the sales every quarterly by 10%. To earn profit up to 40% in the first year. To open a new branch of Bakery in next 18 months. Amount of seed capital required For establishing a Bakery in the London, the business shall require a capital of£40000 which shall be divided into following expenses- ExpensesAmount Startupexpensewhichshallincludethe following- £10000 which includes-
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legal quarterly rent furniture and other expense £2500 £2500 £5000 Kitchen appliances£20000 Raw material£5000 Workers£3000 Cash in hand£2000 Total£40000
CONCLUSION It is concluded from the above report that a business is a set of commercial activity which an individual undertakes to earn profit(Hopp and Greene, 2018).This report is a business plan for establishing a Bakery in London with a capital of£40000.The proposed business shall be in the form of partnerships opened by 3 people who share have equal ownership on it. At last it is concluded that this business is opted due to heavy demand prevailing in the nearby locations so that revenue can be easily generated.
REFERENCES Books and Journals DeNoble, A.F. and Zoller, T.D., 2017. Is the business plan really dead and should it be?: a case for the lean start-up approach. InThe Great Debates in Entrepreneurship. Emerald Publishing Limited. Hopp, C. and Greene, F.J., 2018. In pursuit of time: Business plan sequencing, duration and intraentrainmenteffectsonnewventureviability.JournalofManagement Studies.55(2). pp.320-351. Jukova and et. al., 2019. Planning a new business: typical mistakes of a business plan in the service sector.Journal of Environmental Management & Tourism.10(3 (34)). pp.441- 447.