Business Plan for The Sunrise Bakery: Feasibility Study, STP Analysis, Business Model, Marketing Strategies, Risk Mitigation

This business plan for The Sunrise Bakery includes a feasibility study, STP analysis, business model, marketing strategies, and risk mitigation techniques. The report elaborates on the innovative products and services offered by The Sunrise Bakery, the marketing strategies used for finding success, and the financial techniques, planning tools, and decision making models used for mitigating the risks. The report also discusses the potential risks faced by the entrepreneur and how to effectively mitigate them.

Business Plan

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................4
Conducting the feasibility study of the new venture-..................................................................4
Conducting the STP analysis-......................................................................................................5
Explain the proposed business model and explain why the new venture will work...................6
Discuss the marketing strategies that entrepreneur should follow for finding success and
explore the strategies used for growth, consolidation and underperformance............................8
What are the financial techniques, planning tools and decision making model that can be used
for mitigating the risk................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
A business plan is a written document which is required for starting any new venture and this
contain the goals and objectives of the business that have to achieve by the entrepreneurs. The
business plan also contain the methods for attaining the gaols and the time frame that is required
for achieving those gaols. The main aim of the business plan is to recognize, describe and
analyse the opportunities of the business and also examine the technical, economic and financial
feasibility of the business organization. The business plan have been used by both small as well
large scale industries. Small start-ups and well established companies are able to run their
business so effectively by having an effective business plan (Abrams, and Kleiner, 2020). The
report will also illustrate about the feasibility study of the new venture which is a start-up of a
new bakery names “The Sunrise bakery”. The Sunrise bakery has come up with the idea of
providing diet food items and breads to their customers. The report elaborate the STP analysis of
the new venture and the osterwalder’s business model canvas and porter’s value chain will also
be explained in the report in context with the new business of bakery that have started. Also the
marketing strategies required for the new venture and financial techniques, planning tools and
decision making models will also be illustrated in the report.
MAIN BODY
Conducting the feasibility study of the new venture-
Feasibility study can be described as the practical assessment of the proposed plan or the
new start-up business. The Sunrise Bakery company has come up with the new idea of
manufacturing and offering the good quality bakery food items to the customers which will be
fresh and healthy that is diet free products (Sarfaraz, 2019). These products can be consumed by
the customers and this will not provide harm to their health. Feasibility studies helps the
company's project managers to determine the viability as well as the identification of the factors
which will lead to the success of the business.
Description of products and services:

The Sunrise Bakery has introduced the innovative products which will be fresh and much healthy
bakery items for its customers. The products include the desserts, chocolates, pastries, puffs,
cakes and many more healthy products. This organisation will offer the home delivery facilities
to its customers.
Technology Consideration:
It is very important for the Sunrise Bakery to use the advance technology as this will help them
in producing the better and good quality products for the customers. The technology which will
be required or to be taken into the consideration in the bakery are such as the steam oven,
microwaves and many more.
Marketing Strategy:
This is the most effective part for the growth of the newly established organization as this helps
the company to outline the overall plan which helps the business to reach to their consumers and
them turning them in the customers of the company for their products as well as the services
(Purwantono and et.al., 2021). This will be used by Sunrise Bakery as this will help them in
reaching to the prospective consumers who are in need of these types of the products. The four
P's of the marketing such as the place. Product, price and promotion will help the Sunrise
Company to effectively reach to the customers.
Financial projections:
This helps the businesses to use the existing and the estimated financial data as this will help
them in forecasting the future income of the business as well as the expenses.
Start-up Costs-
Expenditure Items Quantity Price (Pounds) Amount (Pounds)
Convention Oven 1 205.26 205.26
Single Deck
convention Oven
1 153.95 153.95
Pan Racks (Sheet) 9 1.54 13.86
Innovation process model can be used to understand that the entrepreneurs are considered
as the basis for the innovation and the creativity in the organisation. Creativity and innovation
are the two main elements of the entrepreneurs as this help them in developing the new ways for

improving the existing products and the services for the optimisation of the business. Having this
ability, the entrepreneurs effectively come up with the new ideas ans so they are highly depended
for the effective innovation for the organisation. This is very important for the entrepreneurs as
this also helps them in solving the problems and the process of the organisation.
Conducting the STP analysis-
STP Analysis the model which helps the organisation to make the leading position in the
highly competitive marketplace. The STP stands for the Segmentation, Targeting as well as the
Positioning of the offerings of the organisation. The Sunrise Bakery using this model will help
them in effectively segmenting the market, targeting the customers as well as the positioning of
the products which are been offered by the Company (Bafort, Van Den Broecke and Voegeli,
2020).
STP analysis has been found very effective as this helps the organisations to focus on
breaking the customer’s base into the small units or the groups. This enables in developing the
particular marketing strategies for reaching as well as engaging the each target customer. The
main purpose of the STP Analysis is to bring the shift towards the customer focused marketing
from the product focused marketing. Focusing on the customers helps the companies to consider
all the factors which will provide the good quality products to them and the products are able to
meet the expectations as well as the needs of their customers. The Sunrise Bakery segmenting
the customers will help them in focusing them which involves their needs, wants as well as the
expectations.
Segmentation: The segmentation can be defined as the splitting up of the customers which is
based on the observable or the people based differences. There are basically four types of the
segmentation that is the demographic, psycho-graphic, behavioural, geographic segmentation.
The segmentation for the Sunrise Bakery is the Behavioural Segmentation as the Bakery is
offering the healthy and the fresh food as there are customers which are very conscious about
their health so these types of the customers will be segmented.
Targeting: The targeting can be defined as the multi segment marketing as it is the marketing
strategy which helps in identifying the specific customers for the specific products and the
services of the company. The Sunrise Bakery using the targeting helps them in learning more
about the consumers as well as helps them in creating the advertisements for the particular
groups of the audience (Haryanto and Suhaimi, 2020). The target customers for the Sunrise

Bakery is the people who are much conscious as well as attentive towards their health as offering
the fresh, healthy and diet free food will help them in avoiding the negative impacts on the their
health.
Positioning: This can be defined as the place at which the brand occupies in the highly
competitive marketplace as well as in the minds of the customers of the company. This involves
the difference between the products of the competitors. The company having the good brand
positioning helps them in stray ahead of the competitive market as well as stay unique and this
helps the customers to stay distinct between the benefits of its competitors. The Sunrise Bakery
will be using the unique logo on the packaging of the products as well as the unique tag line
which will attract the large number of the customers towards the company.
Explain the proposed business model and explain why the new venture will work
A business model is the strategic plan that is developed by every business organization in order
to recognize how the organization create, deliver and captures value. For earning profitability
from the business the business organisation uses some business model and these models include
information like the products and services the company is selling into the market. There are two
levels of a business model which are pricing and the second one is cost (Barrow, Barrow, and
Brown, 2018). Value proposition is the primary component of the business model and this
explains that why the product or service is suitable for the customers and why should they buy
the product. Similarly the osterwalder’s business model canvas is a strategies management that
helps the business in describing , designing and analysing the business model there are nine
components used in this model.in context with the new venture of “the sunrise Bakery” these
nine components will be beneficial in understanding the concept of osterwalder’s business
model. The first one is value proposition which describes the products or services the company
is offering for their customers and the sunrise Bakery is offering bakery products which and
healthy for the customers like glutton free and having less calories. The next one is infrastructure
and this consists of three elements which are key activities, key resources and key partner. The
third block is cost structure in which the Sunrise bakery will decide a reasonable and affordable
price for their food products and also include the salary of the employees, rent for the utilities,
variable costs and economies of scope and scale. After this customers is the next block which

comprises of segmentation of the customers according to their choice, channels and relationship
between the customer and the business (Osterwalder, and Euchner, 2019). In today’s
environment everyone wants to have a healthy diet and want to stop using so much calories so
for this the customer will definitely support the business of The Sunrise bakery. The last one is
revenue streams which helps in describing how the company will generate revenue from the
target market.
Similarly the porter’s value chain is also very essential for starting a new venture and in the
sunrise Bakery it will help in focusing on the system, and how the input are converted into the
outputs and hence purchased by the customers. The primary activities of this include the inbound
logistics which means how the Bakery food products will be receive, store and distribute to the
customers. Second one is operations which means trying to convert the input into output
products like making healthy food items for the customer’s next one is outbound logistics which
means delivering the product to the customers like collection, storage and distribution. The last
one is marketing and sales and service (Jones, Demirkaya, and Bethmann, 2019). The Sunrise
Bakery will offer the healthy and the fresh food as there are customers which are very conscious

about their health and this will definitely help the business in expanding its profit margin and
revenue.
Discuss the marketing strategies that entrepreneur should follow for finding success and explore
the strategies used for growth, consolidation and underperformance.
When an entrepreneur starts a new venture there are lot many things that they need to be
considered for getting success in their business.similary the sunrise Bakery is also a start-up in
which the aim is to deliver healthy diet food items to the customers. The basic marketing
strategies that is required for running the business more effectively are the 4 P’s which are
product, price, place and promotion(Hecht, and et.al, 2020). The four P’s are very essential
factors which are required for marketing the goods and services to the customers.in the same way
the Sunrise Bakery is also following the concept of marketing strategy and using the four P’s of
this strategy in a very effective manner.
Product-The sunrise bakery is offering food items which will be fresh and much healthy bakery
items for their customers. The products include the desserts, chocolates, pastries, puffs, cakes
and many more healthy products. This organisation will offer the home delivery facilities to its
customers.
Price-Price is the cost the customers pay for the products and it is one of the most important
factor for the marketing strategy. The sunrise bakery have also chosen a very affordable price for
their food products so that anyone can but their products. The company follow the concept of
using the lower price for their products so that customers can try their food items.
Place-In this factor the company decides where they want to sell the product and how they can
deliver the product to the customers. The sunrise bakery has its branches where it is very
convenient for the customers to come and take the food items.
Promotion-Promotions is the last stage in the marketing strategy and this is used for expanding
the business and this includes advertising, public relation and promotional strategies.in the same
way the Sunrise Bakery is promoting their food products by applying some discounts and by
introducing the strategy of buy one get one free.
Furthermore when an entrepreneur started a new venture then there are many common mistakes
which have been done by them like they fail to plan the strategies, all talk and no action, ever
asking for help, hiring friends in the business organization, lacking sales ability, do not segment

the customers (Dinnar,and Susskind, 2018). But in order to mitigate the following issues there
are many strategies that have to be followed by the entrepreneur in their newly started venture
for growth, consolidation and can market development, product development and the last one is
diversification. Also for improving the performance there are many strategies that can be used
like asking employees, looking for tech solutions, review the goals and work on the
marketing(Massingham, Massingham, and Dumay, 2018).
What are the financial techniques, planning tools and decision making model that can be used for
mitigating the risk.
Risk mitigation is very crucial because it empowers the business with the necessary actions so
that they can deal with potential risk. Risk mitigation is one of the very important factor used for
running a business.t happens when the business experience a downstream in their while running
a new business (de Araújo Lima, and et.al, 2020). There are many types of risk which have to
face by the entrepreneur when they started a new venture. Similarity while running The Sunrise
Bakery the entrepreneur also have to faces some risk so for mitigating the risk some financial
techniques, planning tools and decision making models used.one can mitigate the risk and there
are some financial techniques like evaluate the business operations for efficiency, nurture the
talent and outsource where they make sense, create a strong foundation for the HR practices, use
metrics for every decision and one should always be prepared for covering the loses. Similarly in
the new started venture one can also mitigate the risk by the help of some planning tools like the
first one is root cause analysis as it helps in addressing the causes rather than the symptoms.it
means knowing the root cause of the risk like why the risk happened in the business
organization, the next one is SWOT analysis and in this the entrepreneur can mitigate the risk by
using the SWOT analysis which helps in determining the strength, weaknesses, opportunities and
threats that are required in the business organization for running the business more
effectively(Darwish, and Abdeldayem,2019).
Some other planning tools that are required for mitigating the risk is using the risk assessment
template for IT ,using risk register as it allows the project manager for prioritizing the risk ,
assign an owner for resolving those risk. This is a strategic tool that is used for controlling risk in
the business organiation.one can also control the risk by using probability and impact matrix it
helps in prioritizing the important risk and the entrepreneur need not to waste their time on the

small risk. Brainstorming is also one of the most effective method which can be used by the
Sunrise bakery for mitigating the risk that occur in their business. Risk mitigation is also
important for the employees also because it makes the job safer, enables project success, risk
management reduces the unexpected events, and risk management also creates financial benefits
and also helps in save time and effort (Slade, 2020).
CONCLUSION
It has been understood that for staring any new venture it is very essential to have a strategic
business plan for getting success in the business. A nosiness plan is required for performing all
the activities required for running the business in a more effective way. The report have
elaborated all the feasibility study required in the new venture which is opening of a new bakery
“The Sunrise Bakery”. The report also discussed about the STP analysis which is required for
running the Sunrise Bakery. The business model required for running the Sunrise bakery is also
explained in the report by the help of Porter’s value chain and osterwalder’s business model
canvas. The Marketing strategies that are required have also been illustrated in the report and
what are the strategies that are required by the entrepreneur for growth, consolidation and
underperformance. There are many mistakes which an entrepreneurs usually do while staring a
new venture and that has been also explained briefly in the report for better understanding. Also
the financial techniques, planning tools and decision making models are discussed in the report
that can be used for mitigating the risk factor.

REFERENCES
Books and journals
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Dinnar, S. and Susskind, L., 2018. The eight big negotiation mistakes that entrepreneurs
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Bafort, L., Van Den Broecke, E. and Voegeli, F., 2020. Defining an STP strategy and marketing
mix for a Belgian brewery.
Haryanto, J. and Suhaimi, H., 2020. Increasing revenue using a marketing plan on a geotracker
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Purwantono, H.Y., and et.al., 2021. A literature review: Feasibility Study of technology to
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Sarfaraz, A.A., 2019. Feasibility study for setting a business (modern workshop faculty).
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