Sarah odetunde

1. Welcome
The Business Plan
You’ve got a business idea. You’ve decided to start a business.
You want to get going.
But there’s 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 you’re
going to do it properly. Some parts will be easier to complete than others.
Stick at it because it’s not the final document that’s important, it’s the process. Although you
want to have a good plan when you’re done, an OK plan is better than no plan.
The Prince’s Trust Business Plan Pack
The best business plans aren’t long and complex; they explain only the most important information – what you want
to achieve, how you will get there and the things you need to do along the way.
It’s best to tackle a business plan in small chunks. The Prince’s 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 Prince’s Trust Enterprise Programme
The Prince’s Trust has helped many young people to complete their business plans and start their own businesses.
If you are aged 18–30 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 can’t 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
Business name: Sarah’s bakes
Owner(s) name: Modupeoluwa Sarah Odetunde
Business address and postcode: Gonyeli north Cyprus
Business telephone number: +905428830639
Business email address: dupsygem4loves@gmail.com
Home address and postcode (if different from above):
Home telephone number (if different from above):
Home email address (if different from above):

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.
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.
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: Sarah’s bakes
1.5 Strapline: A little bliss in every bite
1.6 Elevator pitch: Sarah’s 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.

5. Section two
Owner’s 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.
2.2 Previous work experience: Still a student, No work experience
2.3 Qualifications and education: Degree in business administration in NEU
2.4 Training: Certificate and associate’s 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
Details of future training courses you want to complete: Catering and Restaurant management
2.5 Hobbies and interests: cooking and baking
2.7 Additional information:

6. Section three
Products and services
3.1 What are you going to sell?
a product 
a service
both
3.2 Describe the basic product/service you are going to sell:
Nigeria snack
3.3 Describe the different types of product/service you are going to be selling:
Cakes, chin chin, egg roll etc…
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 “Cupcakes” and Nigerian Snacks…
Secondly, in long range I want to create a complement store providing Nigerian Food & Deserts.
3.5 Additional information:

7. Section four
The market
4.1 Are your customers:
individuals 
businesses
both
4.2 Describe your typical customer:
Africa people
4.3 Where are your customers based?
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?
• Therefore, to provide a better homemade snack for Africans (Nigeria)
• This kind of snacks is too expensive here in Cyprus.
• Our Nigerian life style in the way we serve, dress, and place.
• The kind of events we provide to our customers.
4.6 Have you sold products/services to customers already?
yes
no 
If you answered “yes”, give details:
4.7 Have you got customers waiting to buy your product/service?
yes
no 
If you answered “yes”, give details:
4.8 Additional information:

8. Section five
Market research
5.1 Key findings from desk research: internet and social media
5.2 Key findings from field research – 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..
5.3 Key findings from field research – 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 ...."
5.4 Additional information:

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 100tl

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 Cake 150tl • Have more experience
• Has operate the
business for more
than years
• Newly establish with
new furniture
• Well-known by most
of the customer
• Lack of staff
• Unattractive environment
• New in the market
• High price of product

11. 7.2 SWOT analysis:
Strengths
• Produce creative and unique cake
• Provide something different unlike any competitor in the market
• Give everyone regardless of budget the opportunity to have a special cake
Weaknesses
• New in the market
• New setup
• Need to ensure consistent high quality product to stay competitive in
the market
• Lack of experience
Opportunities
• High quality product with reasonable prices
• Expansion of the product line.
• Growing concern for health
Threats
• Experience of competitors in the market and best advertisement
strategies example Gloria jeans and other cakes shop
• Without online engagement and optimization, the company can get
lost in the crowded market place.
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
8.2 Delivery to customers: Yes, for customer who is close by, free delivery
8.3 Payment methods and terms: With cash
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:
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
8.8 Legal requirements: N/A
8.9 Insurance requirements: N/A
8.10 Management and staff: On my own for some period of time

13. 8.11 Additional information:

14. Section nine
Costs and pricing strategy
Product/service name Sarah’s bakes
A Number of units in calculation 20
B
Product/service components
Baking powder, butter, flour, sugar, icing sugar,
chocolate,
Components cost
3000tl
C Total product/service cost 3000tl
D Cost per unit 150tl
E Price per unit 130tl
F Profit margin (£) 50tl
G Profit margin (%) 39%
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 Feb mar Apr May Jun Jul Aug Sep Oct Nov Dec
Sales forecast
B Product/service
602 452 602 662 903 482 452 361 572 692 753 602 7135
C Product/service
Costs forecast
D Product/service
90300 67800 90300 99300
13545
0
72300 67800 54150 85800
103800
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 (£)
A
Estimated costs
Mortgage/rent
1500
Council tax N/A
Gas, electricity and oil 200
Water rates 100
All personal and property insurances 500
Clothing 600
Food and housekeeping 300
Telephone 60
Hire charges (TV, DVD etc.) N/A
Subscriptions (clubs, magazines etc.) N/A
Entertainment (meals and drinks) 150
Car tax, insurance, service and maintenance N/A
Children’s expenditure and presents N/A
Credit card, loan and other personal debt
repayments
N/A
National Insurance N/a
Other
B Total costs (£) 3410
C
Estimated income
Income from family/partner
Part time job 1000
Working tax credit N/A
Child benefits N/A
Other benefits N/A
Other
D Total income (£) 1000
E Total survival income required (£) 2410

17. 10.3 Cashflow forecast
Month
Pre-
start 1 2 3 4 5 6 7 8 9 10 11 12
A
Month
name
Jan Feb Mar Apr May Jun Jul Aug Sep
Oct
Nov
Dec
Money in
(£)
B
Funding
from The
Prince’s
Trust
10000 10
Funding
from
other
sources
5000 5
Own funds 1000 100 100 100 100 100 100
100
100 100
100
100 100 2
Incomes
from Sales
- 30100 22600 30100 33110 45150 24080 22575 18050 28595 34615 37625 30100
35
Other - - - - - - - - - - - - -
C
Total
Money in
(£)
16000
30200
22700
30200
33210
45250
24180
22675
18150 28695 34715
37725
30200
373
Money out
(£)
D
Loan
repayments
The
Prince’s
Trust
- 10042 10042 10042 10042 10042 10042
10042
10042 10042
10042
10042 10042 10
Personal
drawings
Tools 500 500 500
500 500 500 500
500
500 500 500 500
500
6
postage 100 100 100 100 1001 100 100
100
100 100 100 100 100 1
water 150 150
150
150 150 150 150 150 150 150
150
150
150
1
materials 500 500
500
500 500 500 500
500
500
500
500
500
500
65
phone 70 70 70 70 70 70 70 70 70 70 70 70 70 9
Light 200 200 200 200 200 200 200
200
200 200
200
2002
200
2
Maintenanc
e
600 600
600
600 600 600 600 600 600 600
600
600
600
7
rent 1000 1000 1000 1000 1000 1000 1000
1000
1000
1000
1000
1000
1000
13

18.
E
Total
money out
(£)
3120 3120 3120 3120 3120 3120 3120 3120 3120
3120
3120 3120
3120
40
F Balance (£) 12880 27080 19580 27080 30090 42130 21060
19555
15030 25575 31595 34605 27080 33
Opening
balance
12880 12880 14200 5380 32460 62550 104680
124235
143790
158820 184395 215990 250595 27
Closing
balance
12880
14200
5380
32460
62550
104680
124235 143790
158820
184395
215990
250595
277675 55

19. 10.4 Costs table
Cost item What is included and how you worked it out Total cost
50 egg
250 flour
100
sugar
90 vanilla extract
50 baking powder
40 condensed milk
30 evaporated milk
100 whipping cream
Total cost 710
total manufacture cost 710

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
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.
11.3 Plan B: if my business fails I will close it down and stop the cake production so that I don’t incur more
losses and I will also sell the baking tools and equipment.
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.