Creating a business plan this summer? Read this first.

Finances

• Achieve total revenue of over $100,000 in
  first year
• Start-up costs at $300,000 for kitchen equipment and store construction are to be financed by outside investment.
• Profits must exceed start-up costs through a cost-effective menu that is affordable and interesting, in order to attract customer sales. Strong profits will allow investors to become profitable from this bakery.

Key Members:

• Gain a committed team of talented individuals from several backgrounds
• Key members include bakers that can produce the quality bakery products with authentic taste of several cultures. We will consider specialists of different countries or areas (for example, a specialist in Spanish products.)
• We are also looking for planners to continuously consider our menu and host events that produce insight into other cultures.

Target Audience

• Gain a dedicated customer base and strong presence in the community
• Serve a variety of affordable bakery products from several countries to attract customers. Provide efficient and friendly service to achieve customer satisfaction.
• Strive for a clean and comfortable environment that allows customers to share their world interests. Frequently host events and holiday celebrations to attract customers and give perspective to other cultures.

Marketing

• Increase second year sales by 30%
• Expand marketing and advertising in news and word of mouth to increase customer base.
• Stress reputation as a small unique bakery that provides the delights of travel with the convenience of home, as well as an environment ot learn more about multiculturaul diversity with others. We will control costs and maintain food costs below 40% of revenue.

Infographic [via formswift.com/business-plan and Kelly Le]

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The Core Elements to Building a Successful Business Plan

• Cover Sheet

  • Business Logo
  • Company name, address, phone number
  • Name of people creating plan
  • Date of plan’s creation
  • Sum up in a paragraph the two main objectives for the business

• Mission Statement

  • Sum up in a paragraph or two the main objectives of the business.
  • It should be concise and answer the following: Why does your business exist? What special services, skills or approaches make you stand out from your competitors? What will your business’ public image be? What do you want for your customers?

• Marketing Overview

  • Describe target market (group of customers you sell to)
  • Illustrate present or future competition
  • Relate what edge your product has in the existing market

• Business Summary

  • Include essential background information and structure of business.
  • Description of Business’ Legal Entity
  • Descriptive overview of products or services offered
  • Overview of business assets and future projections
  • Any specifications in regards to the business location
  • Other miscellaneous facets of business:
    • record-keeping
    • security
    • insurance

• Marketing Strategy

  • Describe the marketing campaign that will be undertaken.
    • Include market entry plan (if a new company)
    • Role of location in marketing methods
    • Pricing strategy
  • Plan for distributing products/services.
  • Provide a summary of industry trends and advanced planning through aSWOT analysis.

• Management Structure

  • Description of how the company is organized
    • What are the job titles?
    • What are the responsibilities of each position?
    • The people chosen for relevant positions (if applicable)

• Financial Overview

  • Sum up your business’ financial requirements.
  • Provide a statement describing your funding sources and how you intend to apply said funds.
  • Describe your budget.
  • Provide a three-year income projection and a break-even analysis graph.
  • Provide statements reflecting past performance.
  • Provide a balance sheet with a summary conclusion section

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