Marketplace and Quality Assurance Presentation - Vincent Chirchir
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Sarah's Bakes Business Plan
1. Welcome
The Business Plan
Youβve got a business idea. Youβve decided to start a business.
You want to get going.
But thereβs a lot more to a good business than a good idea.
You need to think things through to maximise your chances of success.
Are you the right person to run the business? Will customers like your product?
A business plan will help you turn an idea into a business. It needs you to think through all the
parts of your business to plan how everything will work. It will take a few weeks to write if youβre
going to do it properly. Some parts will be easier to complete than others.
Stick at it because itβs not the final document thatβs important, itβs the process. Although you
want to have a good plan when youβre done, an OK plan is better than no plan.
The Princeβs Trust Business Plan Pack
The best business plans arenβt long and complex; they explain only the most important information β what you want
to achieve, how you will get there and the things you need to do along the way.
Itβs best to tackle a business plan in small chunks. The Princeβs Trust Business Plan Pack can help. This is The
Business Plan divided into sections to help you develop your business idea. You can use the information in The
Guide to help you complete the sections. Some of the sections of The Business Plan have tables to record the
financial parts of your business. The tables are also available in MS Excel format and the sums in these are
automatic.
The Princeβs Trust Enterprise Programme
The Princeβs Trust has helped many young people to complete their business plans and start their own businesses.
If you are aged 18β30 and unemployed or working fewer than 16 hours per week, then we might be able to help
you. We have offices throughout the UK and in each there is a team of Enterprise Programme staff.
To take part, you need to be interested in self employment and have a business idea that you would like help to
test and explore. The programme can then help you to see if your business idea will work and whether self
employment is right for you. If through this process you find out it is, the programme can offer mentoring support
and, if you really need it, financial support to start your business. However, if self employment turns out not to be
the right option, the programme can offer support to secure other goals in employment, education, training or
voluntary work.
We canβt guarantee that your business will work or that we will be able to offer you money, but if you are up for a
challenge and want our help to explore your business idea, get in touch and come and meet us.
2. Getting started
Whose plan is this?
Business and owner details: Modupeoluwa Sarah Odetunde
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Business name: Sarahβs bakes
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Owner(s) name: Modupeoluwa Sarah Odetunde
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Business address and postcode: Gonyeli north Cyprus
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Business telephone number: +905428830639
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Business email address: dupsygem4loves@gmail.com
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Home address and postcode (if different from above):
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Home telephone number (if different from above):
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Home email address (if different from above):
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3. Section one
Executive summary
1.1 Business summary: My cake shop is a retail shop located in north Cyprus. My plan is to attain and
maintain the interest of my customers with the broad variety of cake, snacks and other products. It will
build a strong position among competitor by offering my product at a competitive price and quality
products.
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1.2 Business aims: I will serve all my customers by providing my products with affordable price and by
rendering services that will put a smile on their faces. I will make no discrimination between my customers.
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1.3 Financial summary: I will not be applying for financing. I plan on using some money I saved in the bank.
I have about 3000tl in my saving account. If something goes wrong, I have back-up money and more than
enough for my start- up cost. I will be using my house for the time been. I hope that after a few years of
being open that I have enough money to buy a shop
4. Elevator Pitch
1.4 Your business name: Sarahβs bakes
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1.5 Strapline: A little bliss in every bite
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1.6 Elevator pitch: Sarahβs bakes is a small business which produces mainly Nigerian recipe cakes which
serve Nigeria student as well as individuals at large in north Cyprus using modern flavours quality
ingredient the cakes primary aim are birthday parties, student gathering, special occasions. All cakes are
produced to order.
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5. Section two
Ownerβs background
2.1 Why do you want to run your own business? because I love to be an entrepreneur and to help African
student to feel at home.
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2.2 Previous work experience: Still a student, No work experience
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2.3 Qualifications and education: Degree in business administration in NEU
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2.4 Training: Certificate and associateβs degree programs in pastry arts and cake making, also known as
cake decorating, teach the necessary skills needed to decorate cakes and effectively communicate with
customers
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Details of future training courses you want to complete: Catering and Restaurant management
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2.5 Hobbies and interests: cooking and baking
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2.7 Additional information:
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6. Section three
Products and services
3.1 What are you going to sell?
a product ο
a service
both
3.2 Describe the basic product/service you are going to sell:
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Nigeria snack
3.3 Describe the different types of product/service you are going to be selling:
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Cakes, chin chin, egg roll etcβ¦
3.4 If you are not going to sell all your products/services at the start of your business, explain why not and
when you will start selling them:
First, I want to be specialized in providing in βCupcakesβ and Nigerian Snacksβ¦
Secondly, in long range I want to create a complement store providing Nigerian Food & Deserts.
3.5 Additional information:
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7. Section four
The market
4.1 Are your customers:
individuals ο
businesses
both
4.2 Describe your typical customer:
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Africa people
4.3 Where are your customers based?
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Cyprus
4.4 What prompts your customers to buy your product/service?
It a base need for Nigerians to get the product because of the taste
And for them to feel at home because Turkish snacks and food is different
4.5 What factors help your customers choose which business to buy from?
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β’ Therefore, to provide a better homemade snack for Africans (Nigeria)
β’ This kind of snacks is too expensive here in Cyprus.
β’ Our Nigerian life style in the way we serve, dress, and place.
β’ The kind of events we provide to our customers.
4.6 Have you sold products/services to customers already?
yes
no ο
If you answered βyesβ, give details:
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4.7 Have you got customers waiting to buy your product/service?
yes
no ο
If you answered βyesβ, give details:
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4.8 Additional information:
8. Section five
Market research
5.1 Key findings from desk research: internet and social media
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5.2 Key findings from field research β customer questionnaires: We done a research on 50 African friends
asking them about the different between African snack and Turkish snack
And they said they saw a very high prices , not a good quality , and also the places is not give them the
soul of Africa..
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5.3 Key findings from field research β test trading: we offer to our friends a kind of cakes and African
snacks we cooked at home they love the cakes so much, and they tell us some notes on the snacks ...."
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5.4 Additional information:
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9. Section six
Marketing strategy
What are you going to do? Why have you chosen this marketing
method?
How much will it
cost?
Word of mouth
Advertising
Social Media
Word of mouth is arguably the most
effective form of business promotion and
marketing. Friends are the most supportive
of my business venture so start promoting
my business with their help. Donate my
cake to churches holding bake sales to
raise funds. I give them flyers to pass out to
their friends.
Distributing business card
Easy communication with customer
100tl
TOTAL COST βββββ100tl
10. Section seven
Competitor analysis
7.1 Table of competitors
Name, location
and business size
Product/service Price Strengths Weaknesses
Cake boss Gonyeli small size βββββCake βββββ150tl β’ Have more experience
β’ Has operate the
business for more
than years
β’ Newly establish with
new furniture
β’ Well-known by most
of the customer
β’ Lack of staff
β’ Unattractive environment
β’ New in the market
β’ High price of product
11. 7.2 SWOT analysis:
Strengths
β’ Produce creative and unique cake
β’ Provide something different unlike any competitor in the market
β’ Give everyone regardless of budget the opportunity to have a special cake
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Weaknesses
β’ New in the market
β’ New setup
β’ Need to ensure consistent high quality product to stay competitive in
the market
β’ Lack of experience
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Opportunities
β’ High quality product with reasonable prices
β’ Expansion of the product line.
β’ Growing concern for health
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Threats
β’ Experience of competitors in the market and best advertisement
strategies example Gloria jeans and other cakes shop
β’ Without online engagement and optimization, the company can get
lost in the crowded market place.
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7.3 Unique Selling Point (USP):
Unique Selling Point (USP)
Good quality and attractive look for each product
Unique decoration for each event or orders
12. Section eight
Operations and logistics
8.1 Production: I will make 20 cakes in a day, and it will take me 5 hours to bake all the cakes
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8.2 Delivery to customers: Yes, for customer who is close by, free delivery
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8.3 Payment methods and terms: With cash
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8.4 Suppliers:
Name and location of
supplier
Items required
and prices
Payment arrangements Reasons for choosing
supplier
City centre where they
sell all ingredient for
baking
Flour 250
Sugar 100
Butter 60
Baking powder 50
Egg 50
Lcing sugar 30
All in cash They have the best quality
of product for baking
8.5 Premises:
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8.6 Equipment
If being bought
Item required Already owned? New or second
hand?
Purchased from Price
Cake pans
Pastry brush
Mixer
Cake filling
YES New 1001 supermarket $100
8.7 Transport: N/A
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8.8 Legal requirements: N/A
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8.9 Insurance requirements: N/A
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8.10 Management and staff: On my own for some period of time
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14. Section nine
Costs and pricing strategy
Product/service name βββββSarahβs bakes
A Number of units in calculation βββββ20
B
Product/service components
Baking powder, butter, flour, sugar, icing sugar,
chocolate,
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Components cost
3000tl
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C Total product/service cost βββββ3000tl
D Cost per unit βββββ150tl
E Price per unit 130tl
F Profit margin (Β£) 50tl
G Profit margin (%) βββββ39%
H Mark up (%) 33%
15. Section ten
Financial forecasts
10.1 Sales and costs forecast
Month 1 2 3 4 5 6 7 8 9 10 11 12 TotaL
A Month name Jan Febβββββ marβββββ Apr May Jun Jul Aug Sep Oct Novβββββ Dec
Sales forecast
B Product/service
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602 452 602 662 903 482 452 361 572 692 753 602 7135
C Product/service
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Costs forecast
D Product/service
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90300 67800 90300 99300
13545
0
72300 67800 54150 85800
103800ββββ
β
112950 90300 107025
E Assumptions
(e.g. Seasonal trends)
My assumption is that in summer period most Africa student will go home the sales of my product will go down.
16. 10.2 Personal survival budget
Section Monthly cost (Β£)
A
Estimated costs
Mortgage/rent
βββββ1500
Council tax βββββN/A
Gas, electricity and oil βββββ200
Water rates βββββ100
All personal and property insurances βββββ500
Clothing βββββ600
Food and housekeeping βββββ300
Telephone βββββ 60
Hire charges (TV, DVD etc.) βββββN/A
Subscriptions (clubs, magazines etc.) βββββN/A
Entertainment (meals and drinks) βββββ150
Car tax, insurance, service and maintenance βββββN/A
Childrenβs expenditure and presents βββββN/A
Credit card, loan and other personal debt
repayments
βββββN/A
National Insurance βββββN/a
Other βββββ
B Total costs (Β£) βββββ3410
C
Estimated income
Income from family/partner βββββ
Part time job βββββ1000
Working tax credit N/A
Child benefits βββββN/A
Other benefits βββββN/A
Other βββββ
D Total income (Β£) βββββ1000
E Total survival income required (Β£) βββββ2410
20. Section eleven
Back-up Plan
11.1 Short-term plan: My short term plan is to implement more efficient marketing by using social media
apps like Facebook and Instagram, purchase new and efficient equipment to streamline processes,
expanding my customer base by 50% and to raise my turnover and profit
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11.2 Long-term plan: My long term plans is to get shareholders in the business, expand the business and
get a shop in the city and have more outlet in various part of the city and finally make my business
recognized internationally.
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11.3 Plan B: if my business fails I will close it down and stop the cake production so that I donβt incur more
losses and I will also sell the baking tools and equipment.
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11.4 Plan B continued...: I will start selling African inspired clothing because a lot of international students
schooling in north Cyprus come from Africa.
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