The aroma of a freshly baked loaf of bread or cake surely whets the appetite. The soft and puffy appearance of mouth-watering pastry is certainly very heavenly when you are hungry. A person planning to open a bakery loves to see others indulge in the pleasures of their hard work, expertise, and creativity. However, to be successful and attract investors to build up your place, you will also need a well thought out business plan.
Business Plan Sample
Preparing a business plan is essential, as it gives you and the investors a clear idea about how you would implement and execute the entire business. This is also known as an executive summary.
Type of Business
Before you plan anything, get familiar with the different types of bakery options you can start.
Products and Services
- You can start a retail bakery, where customers can purchase bakery food from you in a shop. You can also start a bakery restaurant, where people can buy as well as eat in your restaurant.
- You can start a wholesale business where you sell bakery products to the retail bakery shops, hotels, organizations, or restaurants.
- You can also work as a retail and wholesale entrepreneur. It helps you yield more revenues and profits. It also helps you capture a bigger part of the potential market and consumers.
Once you decide which type of business to go for, you have to decide your cuisine specialties. There are a variety of bakery products, such as, cakes, pastries, breads, etc., so you may choose a few special items or may go for a wide variety. If you are going for a retail business with a shop or restaurant, it is better to keep a variety of products so that you can cater to varied customer demands. You need to give detailed thought to all the products and services you will be providing to the customers.
This is one of the important steps in any bakery business plan. You need to know about your competitors, that can be local well established bakery shops or branded bakery products. You must be aware of the business strategies, marketing plans, and the best selling products of your rivals. It helps you in advertising and marketing your products. Find out the Unique Selling Proposition (USP) of your products and market them accordingly. If you have the knowledge about bakery food, it is good for you. However, if you are new, then start updating your knowledge about the industry, bakery products, and competition in the market.
Your business plan must include the details about how you are going to invest money in the business. You should plan as to how many staff members need to be appointed and their salary, etc. You will also need to think about the land investment, whether you are going to buy or rent a shop for the business. You need to make arrangements to meet these expenses in the initial stage. You may go for personal investments, bank loan, government grants, or borrow money from venture capitalists. The plan should also include expected growth or revenues in first annual quarters. It must include the mission and vision of your business with descriptive long term and short term goals.
Design of the Bakery
Each type of bakery business requires different arrangements. Your work is relatively easy if you are going for a wholesale business. All you have to do is, get the orders from retailers and provide them with demanded products with the help of expert chefs and staff members. You do not need any attractive set up for this. However, if you are planning to start a bakery with a restaurant, then you have to pay attention to a lot of details, such as, ambiance, cleanliness, seating arrangements, and attractive display of food products. You also need to think about keeping waiters or adopting a self service method.
These were a few important factors that need to be considered while drafting your plan. The business plan will also give a fair idea about how to start a bakery. Though this may sound easy, starting a new business is always challenging. You need to put a lot of effort and hard work to bring your dream bakery to reality. Pay attention to every minute detail and you will surely become a successful entrepreneur.