BM564 Enterprise and Entrepreneurship: Sweet Tooth Business Plan 2022

This presentation details a business plan for "Sweet Tooth," a cake studio. It covers the motivation for choosing the business, the idea generation process (brainstorming, mind mapping, SCAMPER, focus groups, market research), and feasibility studies using STP analysis (segmentation, targeting, positioning). The presentation describes the products and services offered (various cakes, cupcakes, muffins, dine-in, take-away, and online ordering), potential market opportunities analyzed through PEST, and industry attractiveness assessed using Porter's Five Forces. The vision focuses on quality and customer loyalty. The presentation concludes that entrepreneurship creates value, and understanding the market is crucial for strategy and risk management.

ENTERPRISE AND
ENTREPRENEURSHIP

TABLE OF CONTENTS
• INTRODUCTION
• MOTIVATION FOR CHOICE OF BUSINESS
• PROCESS FOLLOWED FOR GENERATING BUSINESS IDEA
• FEASIBILITY STUDIES CONDUCTED
• DETAILS OF PRODUCTS/SERVICES OFFERED
• POTENTIAL MARKET OPPORTUNITIES
• ATTRACTIVENESS OF INDUSTRY
• VISION FOR BUSINESS
• CONCLUSION
• REFERENCES

INTRODUCTION
• Entrepreneurship is the creation of value and is art or science of
innovation and risk taking for generating profits in business.
• Enterprise is the company, business which performs various
functions that can be helpful in making business more profitable.
• The PPT will be the medium of showcasing my new business
plan where a cake studio which will be operated launched under
the label of “Sweet tooth” and will be offering a diverse range of
products through which the finest quality of cakes and pastries
can be offered.

MOTIVATION FOR CHOICE OF BUSINESS
The purpose of choosing the idea of opening a cake studio is that the venture will be offering a variety of
cakes and pastries which is made of products of finest quality through which products of high quality
standards can be offered to customers.
This venture will be operated with the mindset of offering variety of cakes which will be made of finest
quality of ingredients that can ensure the quality standards of products can be maintained. Some of the
reasons behind opening a cake shop is:
• To make use of quality raw material
• To bake own bread by avoid using already baked bread
• To offer quality products to community

CONTD.
Solving a problem:
• The demands of cakes and confectionery items have been increased and this can be helpful in
creating a new business venture where fresh and quality products and services can be delivered to
customers.
• The venture will be focusing on bringing differentiation to the brand through which they can
understand the value of fresh and local product that are used.

PROCESS FOLLOWED FOR GENERATING
BUSINESS IDEA
Idea generation is the process of creating, developing and communicating
ideas which can be helpful in identifying the problems and finding innovative
solutions that can resolve such ideas. The process which is followed for
generating the business ideas are discussed beneath:
• Brainstorming- It is the process of finding various solutions for a specific
problem that is possible. The brainstorming activity can be done
individually or within groups.
• Mind mapping- It is a visual framework which outlines the task, items and
concepts which are related to the concepts. This approach will be helpful in
organizing and categorising the ideas faster through which the relationship
between concepts can be determined.

CONTD.
• SCAMPER technique- This is another approach of idea generation
and creative thinking which focuses on determining the problem
• Focus groups- Focus group is a research approach which is used by
gathering data through group interaction. In case of Sweet tooth, the
venture will be following focus groups approach in which a group
of people will be discussing the purpose, issue and solutions of the
company.
• Market/Internet research- The understanding of market is
essential before starting a business venture though which the
organization can understand the consumer market trends and
dynamic business environment.

FEASIBILITY STUDIES CONDUCTED
• The business idea of starting a new venture of a cake shop, the venture will be offering products of
higher and finest quality where the brand will be making use of finest raw materials which can
make consumers aware about the freshness and originality of the products.
• The business venture will be focusing on targeting the consumers by spreading the awareness about
the right raw materials which must be used through which quality standards can be maintained.

CONTD.
In order to understand the various factors, the cake venture Sweet tooth will be performing a STP
approach which is discussed beneath:
STP
• Segmentation- Segmentation is the approach of classifying the market into distinct groups of customers
on the basis of their similarities and differences.
• Targeting- This is another stage of this marketing process which focus on targeting the selected market
segment through which conversion rate can be increased.
• Positioning- This is the last stage of the process which allows companies to set products and services
through which they can meet consumer demand at right time and right place.

DETAILS OF PRODUCTS/SERVICES
OFFERED
The products and services which will be
offered by Sweet tooth are listed below:
Products- The business venture Sweet
tooth, will be offering a diverse range of
products which will are discussed
beneath:
Sweet tooth
CAKES
Butter cake
Chocolate cake
Sponge cake
Biscuit cake
Carrot cake
Gluten free chocolate cake
Lemon layer cake
CUP CAKES AND MUFFINS
Apple pie cupcakes
Chocolate bourbon cupcake
Triple salted caramel cupcake
Lemon cupcake with lavender frosting

CONTD.
Services- Talking about the bakery- Sweet tooth, the venture will be offering dine-in, take-away and
online ordering services through which they can meet demands of consumers and support in
enhancing the brand image of the company within the industry.

POTENTIAL MARKET OPPORTUNITIES
PEST analysis
The factors in relation to Sweet tooth are discussed beneath:
• Political factors- The political factors such as the corruption
level in the market, restrictions of government are some of the
factors which can create a significant impact on the operations
and profitability of the company.
• Economic factors- The economic factors, such as- foreign
exchange rate, employment rate, fiscal and monetary policies,
work force productivity.