Question

your business plan should include the following: of a bakery

Title Page

Vision and mission statement

Keys to Success

Company Overview/ Summary

Company Ownership

Company Locations and Facilities

Products and/or Services

Competitive Comparison

Future Product and/or Service Opportunities

Market Analysis Summary

Market Segmentation

Market Needs

Website Marketing Strategy

SWOT Analysis

Answer 1

Summary:
The Bakery would be an outlet which focusses on Asian cuisine in a healthier way. The location of the same would be near a college. The idea will be to bring the young crowd and make it a preferred hangout for them. The food served here will be Asian cuisine with provision of burgers, hot dogs and other snacks.

Mission and Vision Statement:
Mission: To provide affordable and best quality Asian baked good to all customers
Vision: Innovate, explore and re-engineer the traditional Asian baked goods with a healthier twist and educate the local community regarding the Asian Cuisine and baked good industry

Overall description:
The bakery will have a seating capacity of 10-15 and will be focused on groups as well as takeaways. There will be food challenges and other methods to make the time and money spent a memorable one for the students and other customers. There will be provision for free wi-fi and the specialized cuisine would mean attracting crowds who would want to taste something different from the normal routine. If someone prefers the usual snacks the same will be also be available. The entire menu will be based around bread and pastries of different kinds. Few of the products I would serve include Bakpia, Sou, Cakes, Rolls, Zongzi, buns, breads and biscuits.

Exploiting opportunities:
The food setup should be focused on areas which are close to business parks/corporate houses/colleges and which do not have Asian cuisine based bakery in proximity. The advantage will be the pull of customers who want a variety in their daily routine food with a healthier twist. We can promote this service using local food bloggers who can share their experiences on social media and gather the younger generation to try out the new hangout. Also there will be less ventures which provide both food as well as space for recreation and relaxation. This will definitely bring lot of customers from the vicinity to the restaurant.

Business strategy and analysis:
Primary target customers will be based on following segmentation.
• Demographics based on Age and Gender
• Cuisine preference
• Fast food vs high end restaurant goers – to understand payment preference/ability
• Lifestyle preference – Healthy food vs unhealthy junk food, waiting time for food, readiness to eat from food trucks etc.
• Frequent outside eaters
Based on research and segmentation the best menu and changes can be done in the food chain. When starting any business it is crucial to understand the value it brings and the impact it can create in the eco system. Suppose we start a product or a service which is in close proximity with a well-established player, there are high chances that customers will prefer going to the established venture over the new one. In order to differentiate ourselves from the market and the standard products and services, our deliverables should be better than rest. To this effect, every organization does a business environment scanning to understand where the company stands with respect to others and what the company can do differently from others.
To identify this, there are multiple techniques that are used. Few popular tools are:
• SWOT Analysis
• Pestle Analysis
• Five forces
• Balanced scorecard etc.
I would also use these tools to identify the existing players in the market and methods to differentiate myself from others in the industry.

Governance mechanism:
There will be a team who runs the bakery on the daily basis. The will include one person who will be in charge of bakery and one who will be in charge of the other aspects. There will be staff under both of them as required to suffice the needs of the customer and provide them an augmented customer experience. They will report to the board including me which will comprise of other who will do the funding and start other initiatives. All operational P&L will be shared the person who looks after the financial aspects. Marketing and branding campaign will be done by another who will have a network with food bloggers and others who can spread awareness and branding of the outlet.

Future expansion and M&A:
Based on the impact it creates and the interest shown by customers, I may take a decision to start a similar venture in other areas. The short term future plan would be to add more tables to the outlet and make this an exclusive Asian cuisine outlet. Long term the plan would be to open additional outlet and create a chain of healthy Asian cuisine outlets for customers at multiple locations. I would also look at opportunities to acquire smaller or non-profitable outlets and make them focused on another cuisine. Having a brand name will ensure I can draw more customers to new outlets.
Website Marketing Strategy:
One major aspect as mentioned previously is that the bakery will be focused on students and there are a large majority who are tech savvy and would want to buy and shop at their convenience. I would set up a website which has list of all the products bakers sells along with availability during the day. It would be linked with my ERP system so that the changes made in master data will reflect in the website. I will also allow order mechanism to order food as required using the portal. The data and enquiry will auto reflect in the bakery`s system. To ensure the customers do no need to navigate to a lot of different tabs and pages, I would keep the website simple and enable dynamic search option to ensure customers can use the search option to quickly get the product they were looking for.
I would also create a separate tab dedicated for customers to post their suggestions and feedback. I will then share the website aggressively in the market using food blogs and dedicated twitter handle.

Key to success:
The main success parameters will be the return on investment and customer satisfaction level. They can be measured by conducting surveys, feedbacks from customers, increase in footfalls over period and increase in loyal and returning customers. The return on investment will be slow since the equipment’s needed for kitchen and the infrastructure will be costly and will take certain period for complete payback.