Business Plan for Bake and Beans

Published: 2021-06-22 03:05:05
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Category: Business

Type of paper: Essay

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Contents

Executive summary

Current position
Competitive advantage
Growth plan


Business background
Business strategy

Tactics
Strategic impact
E-commerce and technology
Core values
Credibility and risk reduction


My team

Management structure
Current team
Vacant positions
Retention and recruitment policies
Mentors and business support


SWOT and critical success factors

SWOT summary


Market research
Market analysis

Market opportunity
Market structure
Market size and outlook
Future markets
Target market


Competitor analysis
Financial plan

Start-up costs
Funding
Break-even date
Profit and loss forecast
Cash flow forecast
Balance sheet forecast




1. Executive Summary
Bake and beans will be taking the Indian bakery products to New Zealanders and matching the needs of the locals and making it visually attractive. Since the business started in affect significantly increase in demand for the Indian bakery products grew and demand for Vegetarian cakes grew. The bakery will target special wedding, birthday, graduation ceremony, Christenings and 21st birthday celebrations.  
Current position
The current position of the bakery is proudly counted as the only Indian Bakery who operates in New Zealand with the authentic taste and highest quality of procurement. Being the only bakery that prides to bring vegetarian cakes to customers
Competitive advantage
The advantage of the company lies a positive nature of business as after the opening in these years there have been no single business owners in the market who wants to compete and make similar products.
Growth plan
The Plan of the business will be to invite more of the customers to introduce the taste of the authentic Indian bakery products in New Zealand entirely and with the eye of opening more branches in South of New Zealand and even selling up the franchise and lead business with maintaining quality and growing the quality each day and meet up with the high standards of the other businesses in New Zealand.
2. Business background
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History
Mr Shally Rana from northern part of India with cooking as his favourite hobby and with an experience in culinary and baking skills came up with the idea of bringing Indian taste along with him to New Zealand.
Goals
The Goal of Mr Rana is to grow the business and own the maximum of shops all around in New Zealand. And to take Indian bakery product to a height as to make it as a part of New Zealanders daily favourite.
Offering
The offering of the Bakery will be of the aim to be the corner stone in the community and create a homeland atmosphere for people away from their home country and to involve locals to their feast and up bring the taste and flavour across the country
Intellectual property
The Intellectual property of the business is shared with Mr Rana’s Wife and the advantage of not paying the rent to the business is more likely to make profit.
Locations and outlets
The location of the business is at Auckland region of New Zealand in Mt Roskill. .
3. Business strategy
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Tactics
The tactics of the business will be re launching the entire range of products and promote the offer to sell franchise with the view of maintaining the quality of the products.
Strategic impact
The impact of the strategies will bring more interested clients who would like to invest with the business
E-commerce and technology
The strategy is to like the two businesses with the online help form the team of the other stores and provide learning tactics online to help each other and utilize the maximum of the technology. The main idea and innovation for this business will be promoting the product on internet through the website.
Core values
The core value of the business is to maintain the promise of bring Indian taste to the customers away from home, Guide the franchises to maintain and teach then the essential need of the business if to provide the quality with a best customer service.
Credibility and risk reduction
The credibility of the business will be taken care with the view to minimise the risk involved in keeping secret of the recipe and not letting it spread and make it common on the grounds that to invent the recipe Mr Rana had invested upon a maximum of quality of time which the business cannot afford to leak and reduce the risk by making a patent right of the recipes and not let anyone to make the same product with the same taste.
4. My team
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Management structure
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Current team




Name

Mr Donald Singh


Position
Baker


Qualifications
New Zealand Degree in baking


Expertise
Cakes


Track record
2nd in cake making competition in year 2010











Name

Mrs Sam Singh


Position
Pastry chief


Qualifications
New Zealand Diploma in Baking and pastry making


Expertise
Preparing Pastries for the Bakery and Cooking for Pies


Track record
1st in her academic class.



Vacant positions
Position #1 Customer service Supervisor
Managing inventories and other customer representatives and Dealing with customers
Position #2 Assistant Manager
Assisting manager on his day off and on holiday periods
Position #3 Assistant Baker
Assisting Baker and Pastry Maker.
Retention and recruitment policies
All the Advertisements will be submitted in New Zealand Herald and welcome everyone to apply for the job
Mentors and business support
Mr Max Well will support Mr Rana In hiring the best candidate suitable for the job.










5. SWOT and critical success factors
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Strengths

I will maximise them by:


Unique recipe for Pie And Cakes
Maintaining the secret of the recipe



Weaknesses

I will maximise them by:


Non availability of the main baker during his sick leave’s
Hiring a assistant baker to cover his shift



Opportunities

I will maximise them by:


Selling the franchise to the investors
Promoting and selecting the best investor



Threats

I will maximise them by:


Competitive Market of other products
Introducing products to customers and maintain the high quality.



SWOT summary
Chosen strategy
The strategy of the business will be Increase the sales and maintain the quality and hiring new baker but hiring whilst maintain the secret recipes and promoting the business to the market to sell as a franchise. The aim of the business of to avoid any obstacle in future
Critical success factors
The success factor of the business will be the sales forecast of the business. Promoting cake sales in Christmas and Easter time and promoting wedding cakes and Indian savouries along with the cakes and provide suitable discounts to the customer so that they attract. The success of the business will determine the view of Mr Rana’s Introduction of the coffee machine to the locals and turning the cake shop to a restaurant where customers can order coffees while they wait and decide to the cakes. 6. Market research Bake and beans is focuses on New Zealand’s customers to attract to the Indian Taste in bakery and as the business is unique in New Zealand hence the Market research of the study is divided into two segments of service business analysis. Bakery: Any bakery offering bakery products. Pie: Any Pies in the market including which is sold in super markets. Competition and buying patterns. Although the bakery business is growing popularity amongst the new customers and increase in demand of vegetarian cakes the customers are noted in purchasing the cakes and bakery items from their local super markets, the reason of purchasing it from the super markets would be the easy availability of the products while they shop for normal items or the special deals provided by the companies timely. To match up with that we need to compete against the idea of customers and promote the quality assurance and freshness of the products we sell. While the taste may be the factor for the customer which is the normal taste for the Kiwi’s and they not willing to pay more than what they see in the super market. We believe that they will be willing to spend more if they will came to awareness of the differences between the freshly made bakery products against the product sold in supermarket with preservatives.
8. Competitor analysis
Competitor 1 (Quality Bakery}




Strengths


Weaknesses





Old Kiwi traditional bakery products.
Local customers
Competitive price




Small operation of business.
Hygiene
Lack of variety





Strategy
To improve the products and may be in future introduce an New Zealand recipe in the bakery to attract locals.
Competitor 2 {Countdown Supermarket }




Strengths


Weaknesses



Large Operation. Huge number of daily Customers Ability to sell the products in reduced price
Running off the products. Non availabity due to supplies. Higher rates when bakery is not on special deal.



Strategy
To establish a customer reward system so that the more the customer purchase the more discount they can get.
9. Financial plan
Profit and loss forecast





First year


Second year


Third year




Estimated sales

0.00
22.861.00
207,112.00



Estimated costs

111,150.00
160,442.00
198,143.00



Estimated profit/loss

-174,404.00
-243,957.00
-92,608.00



Balance sheet forecast



Type of Balance
Year1
Year2
Year3


Total Current Asset Total Non-current Asset Total Asset
74,440.00 476,457.00 550,897.00
121,216.00 423,331.00 544,527.00
428,560.00 370,166.00 798,726.00



Projected Cash Flow
Cash Flow of Bake and Beans. Page | 1 Bake and Beans

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