Question

QUESTION ONE
Although there is no guarantee of success when launching a
business, the best way to protect against failure is to create a
business plan. Craft a business plan for your proposed business
venture, include the following key elements of the business plan
Executive Summary, Vision and Mission statement, Company
History, Business and Industry Profile, Goals and Objectives,
Products and Services, Business Strategy, Description of the
company’s Products, Market Strategy, Plan of Operation and
Projected Financial Statements.

Answer 1

The business venture is opening a high-end bakery.

Summary: A high-end bakery shop is to be opened in a locality where the elite class of the people lives. This bakery shop will provide classic desserts that are worth the price of the product being served. A high case amenities and seating plan will be there so that the people will have a luxurious feeling and the desserts being prepared with rated chefs.

Vision and Mission Statement: The vision and mission of the business are to attract the most elite people of the society for providing them a world-class place to spend their leisure time. The company majorly focusses on the top class as they were the best cuisine that the customers can enjoy in their nearby area. With a single branch, the company is of the view to open chain stores at different locations.

Company History: The company is a new business. Earlier it was a family-owned business that somehow did not manage to survive the competition in the market.

Goals and objectives: the goals and objectives are to open a chain store globally. Targeting a larger segment of the elite class of people.

Products and Services: The products are a wide range of desserts including cake, pastries, rolls, and other desserts that are there for the people to enjoy. The company is also providing beverages like coffee, beer, and other beverages which is likely to be enjoyed by the people.

Business Strategy: The strategy of the business is to occupy a larger market segment of the elite class. The business is also focussed on opening a larger market segment and even expanding the business globally.

Market Strategy: The market strategy is to obtain a larger market segment as it is aimed at expanding the business globally and making a leading brand.

Plan of Operation: the plan of operation is to provide a larger space for the elite class people who find it spending more for their luxury.

Projected Financial Statements: The finances are made available through a bank loan which is made available on the mortgage. The initial investments are required for the furniture and other amenities for building up a world-class place  which will help in attracting more and more clients.