Business plan

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by Eunyqe Byrd3 views·Updated Dec 10, 2022
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  1. Hi, my name is unique. Bird and this is my business plan for my bakery, unique sweets.
  2. My bakery is an in home bakery owned and ran by myself
  3. and I grew up with my grandmother baking all the time.
  4. She taught me everything.
  5. I know she's an amazing baker and we created so many unique
  6. and different recipes that I now want to share with you.
  7. Nick sweets is based in my small loving town
  8. Elwood Kansas and I think it's perfect for
  9. the baked goods that we serve which include
  10. lemon squares, which are my personal favorite chocolate and vanilla cupcakes,
  11. red velvet cake, brownies, chocolate chip cookies and pumpkin cookies.
  12. In the small town of Elwood Kansas,
  13. it's almost like the residents have a collective sweet tooth and there
  14. is always some type of bake sale going on in my community.
  15. So I was thinking why not bringing all access bakery that
  16. the consumers can fix their sweetie needs whenever they want.
  17. My competitive edge for my business is that all of my big goods are unique and one of
  18. a kind because they all have their own secret
  19. ingredient that me and my grandmother created together.
  20. Like I said before,
  21. the recipes that I use are my grandmother's and we both collectively
  22. created a secret ingredient for each about for my baked goods.
  23. And I believe that this will give my business a competitive edge
  24. because no one especially around where I'm from really has a secret ingredient
  25. edge to their bakery.
  26. And I believe that having the secret ingredient will peak
  27. interest of consumers and allow me to gain more customers.
  28. The bakery industry is a very large industry,
  29. the market size for the baker stree industry
  30. Is expected to increase
  31. 2.4% in 2022.
  32. This is great for large commercial bakeries because they will
  33. continue to grow and dominate the competition in the market.
  34. Um it will make it a little harder for small businesses like my own,
  35. but I personally have never been afraid of a little competition
  36. and commercial bakeries will continue to grow
  37. by acquiring other brands and regional bakeries.
  38. I decided to specifically target only the people
  39. in my hometown of Elwood Kansas first.
  40. Starting out with my business because I know that is where I will get the most support
  41. small town people love their communities and nine times out of 10,
  42. they will do anything and everything to support
  43. what is going on in their community and that
  44. is why I think I will get the most support if I start my business out,
  45. just targeting the people in my hometown,
  46. I will target people from the ages of 18 to 45.
  47. I think that that is a good age range for me because I
  48. want to specifically target the college students and the families in my hometown.
  49. I will specifically be targeting females because I am aware of the fact that
  50. because I am starting out my business targeting only the people of Elwood Kansas.
  51. I know that I will get more support from females than I will males.
  52. I will also be targ targeting anyone who makes from $9 to $20 an hour.
  53. And I will do this because um a lot of the
  54. people in my hometown are either low class or middle class,
  55. so I don't want to make my items too expensive.
  56. Starting out,
  57. I believe that the people who will buy mostly from me are people
  58. who are interested in different types of art forms because in my opinion,
  59. I believe that bakery is an art form and I believe
  60. that I will relate well to those type of people.
  61. As of 2020 sales of baking related products grew by 24% to $26.5 billion.
  62. The market size of the bakery industry is expected to increase 2.4% in 2022,
  63. which is great because it will
  64. allow for more opportunities for different businesses
  65. And the industry will continue to grow around 1% per annual.
  66. Um in the upcoming decade,
  67. I will turn my competitive edge
  68. into profit because people appreciate authenticity.
  69. Everything is homemade and because there is a secret
  70. ingredient attached to the name of my business,
  71. I believe that will pique the interest of consumers and
  72. that will equal more customers which equals more profit.
  73. I hope that this will make people appreciate my baking and in the future
  74. it will allow me to raise my prices because my product value will be
  75. worth more and because it is appreciated by the customers um it will allow
  76. me to be able to raise my prices and hopefully make more profit.
  77. So it has been shown that the bakery industry profit margins
  78. are low due to the competition in the industry right now
  79. And the typical margin for a bakery is between 4% and 9%.
  80. The goal that I have for my business is to make um hopefully 30,000
  81. a year for the first couple of years and as the years go on,
  82. hopefully that number will rise.
  83. I will promote my business by making an account
  84. specifically for my business on all social media platforms.
  85. This will include instagram, tiktok facebook and twitter,
  86. I will also be putting up flyers around my hometown and
  87. around local businesses to help get the word out there.
  88. My business will also have a website that will include my personal information,
  89. information about the business and pictures of the big goods that I will be selling.
  90. My management team will only include myself.
  91. Um I believe that only involving myself for right now is what's best
  92. for me because of the location that I am starting in and I
  93. believe that because I'm starting out small that I can do it by
  94. myself and I will be baking selling and at times delivering the food.
  95. My qualifications include a completed high school education,
  96. a valid driver's license, a vehicle and years of begging, experience
  97. The start up costs for my business will be
  98. around $5,000 and I will be taking out loans,
  99. um to help me be able to start this business up
  100. now, I leave you with this
  101. unique sweets is an in home bakery owned and ran by myself.
  102. It is based in my small, loving hometown of Elwood Kansas,
  103. which is perfect for the yummy and delicious treats that I will be serving,
  104. which include
  105. lemon squares,
  106. chocolate
  107. and vanilla cupcakes,
  108. red velvet cake, brownies,
  109. chocolate chip cookies and pumpkin cookies.
  110. So if you ever find yourself in a little small town of Elwood Kansas,
  111. stop by and treat your sweetie needs with snakes sweets.