2. Business idea
• My business idea is to start a baking business (Nigeria Snack ).
• Most Africans especially Nigerians do not enjoy Turkish snacks and cakes
• I want to start this business for them to feel at home
• And to make it more cheaper for them to buy.
• And to provide more of Nigeria snack for them to eat over and over again while, I will maintain a good quality and
attractive look for each snack sold.
4. Why this idea
A friend of mine celebrated her birthday with a Turkish cake but to my biggest surprise the cake was not as
good as what we expected, the decoration and even the taste was not up to our standard so I thought what if I
try to bring in African cakes and snacks to Cyprus will people buy it. I made an example and a lot of people
liked it and that actually made me realize that it would not be a bad Idea to have an African baking shop here
in Cyprus.
Therefore I want to provide a better homemade snack for Africans (Nigeria) and if possible people from
different countries here in Cyprus .
Turkish cakeNigeria Cake Vs
5. Goals
• To build a successful business that will stand in time and become
loved in Cyprus.
• To bring the great taste of Nigeria snacks to Cyprus
6. SWOT ANALYSIS
Strength
• 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
Weakness
• 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 lemar and other
baking shops.
7. Market research
We asked about 50 African student to tell us about Turkish bakes, How it is
and if they prefer it to African bakes.
And they said Turkish snacks are way too expensive for its quality and all
Turkish bakes from different places has same design and same taste there is
nothing special about each of them.
we offered to our friends an African cake and snack we baked at home, they
loved it so much, and they told us some things we need to correct on the
snacks ....“
I will continuously doing research of market to be up-to-date of customer
preferences and will get feedback from my customers.
8. Marketing strategy
Marketing strategy will be to promote our snacks, superior service and
exciting concepts to draw in the customers. marketing initiatives will
concentrate on the following
• Word of Mouth: My customers can hear about your business through
others.
• Advertising: Distributing business card.
• Social Media: Easy communication with customer.
9. Competitor analysis
Name product Price Strength weakness
Cake boss cake low Newly establish with new
furniture
New in the market
metropol Cake and snacks high Well-known by most of
the customer
High price of product
Lemar cake high Has operate the business
for more than years
Unattractive environment
Killer cake high Have more experience Lack of staff
10. 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%
11. Month Pre-start 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
Money in (£)
B
Funding
from The
Prince’s
Trust
10000 10000
Funding
from
other
sources
5000 5000
Own funds 1000 100 100 100 100 100 100 100 100 100 100 100 100 2200
Incomes
from Sales
- 30100 22600 30100 33110 45150 24080 22575 18050 28595 34615 37625 30100 356690
Other - - - - - - - - - - - - - -
C
Total Money
in (£)
16000 30200 22700 30200 33210 45250 24180 22675 18150 28695 34715
37725
30200 373890
Money out
(£)
D
Loan
repayments
The
Prince’s
Trust
- 10042 10042 10042 10042 10042 10042
10042
10042 10042
10042
10042 10042 10500
Personal
drawings
Tools 500 500 500 500 500 500 500 500 500 500 500 500 500 6500
postage 100 100 100 100 1001 100 100 100 100 100 100 100 100 1300
water 150 150 150 150 150 150 150 150 150 150 150 150 150 1950
materials 500 500 500 500 500 500 500 500 500 500 500 500 500 6500
phone 70 70 70 70 70 70 70 70 70 70 70 70 70 910
Light 200 200 200 200 200 200 200 200 200 200 200 2002 200 2600
Maintenanc
e
600 600 600 600 600 600 600 600 600 600 600 600 600 7800
rent 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 13000
12. Back up 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
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.
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.
Plan B continued...: I will start selling African inspired clothing because a lot of
international students schooling in north Cyprus come from Africa.
