Creating your food business plan this summer? Here’s how.

business-plan
Photo via: make-it-in-germany.com

by Kyla Camille | SouthOfMetro.com |

It’s summer in the Philippines. It’s sizzling hot.

This time of the year, many prefer to stay indoors, while many more head for the beach. As for some, they’re using the time to tinker with a business plan. How do you start?

FormSwift’s 2015 Summer Scholarship asked college students across the United States to come up with a sample business plan for one of five categories: Bakery, Restaurant, Salon, Personal Training and Trucking. They chose the best sample business plan(s) from each category, and one overall scholarship winner.

SouthOfMetro.com took time to look into them and is featuring one of the winning business plans to guide you. The sample includes a free downloadable infographic and outline of the core elements of a successful business plan from FormSwift. Let’s go!

out fo this world logoBakery Biz: OUT OF THIS WORLD SWEETS

The sample business plan and infographic below are from the winner of the 2015 Summer Scholarship, Kelly Thanh Nga Le, a student at Clemson University in South Carolina. Her business plan is for Out of This World Sweets – her dream bakery business.

Problem

Fascinated in travel and diverse cultures – but maybe unable to leave home? Curious to explore different desserts – but uncertain how to find them? Open to a variety of tastes and cultures – and intrigued by an ever-changing menu? Interested in learning about other cultures – and looking to find others that share your passions?

Solution

Welcome to Out of This World Sweets, a new bakery dedicated to providing a variety of sweets from several countries in one convenient place. We welcome everyone to enjoy these authentic and affordable desserts from many cultures in the world in a safe and friendly environment.

MissionOur mission is to produce quality in bakery products that are authentic to cultures across the world and affordable to our customers. As a dedicated team of talented and worldly individuals, we will serve a variety of international products using the finest ingredients and efficient service. We aim to create a clean and inviting environment that provides our customers with greater perspective and insight for the cultures of the world as well as respect for all kinds of multicultural diversity.Objectives

Finances

  • Achieve total revenue of over $100,000 in
    first year
  • Start-up costs at $300,000 for kitchen equipment and store construction are to be financed by outside investment.
  • Profits must exceed start-up costs through a cost-effective menu that is affordable and interesting, in order to attract customer sales. Strong profits will allow investors to become profitable from this bakery.

Key Members:

  • Gain a committed team of talented individuals from several backgrounds
  • Key members include bakers that can produce the quality bakery products with authentic taste of several cultures. We will consider specialists of different countries or areas (for example, a specialist in Spanish products.)
  • We are also looking for planners to continuously consider our menu and host events that produce insight into other cultures.

Target Audience

  • Gain a dedicated customer base and strong presence in the community
  • Serve a variety of affordable bakery products from several countries to attract customers. Provide efficient and friendly service to achieve customer satisfaction.
  • Strive for a clean and comfortable environment that allows customers to share their world interests. Frequently host events and holiday celebrations to attract customers and give perspective to other cultures.

Marketing

  • Increase second year sales by 30%
  • Expand marketing and advertising in news and word of mouth to increase customer base.
  • Stress reputation as a small unique bakery that provides the delights of travel with the convenience of home, as well as an environment ot learn more about multiculturaul diversity with others. We will control costs and maintain food costs below 40% of revenue.

Infographic [via formswift.com/business-plan and Kelly Le]
business plan infographic

The Core Elements to Building a Successful Business Plan

  • Cover Sheet

    • Business Logo
    • Company name, address, phone number
    • Name of people creating plan
    • Date of plan’s creation
    • Sum up in a paragraph the two main objectives for the business
  • Mission Statement

    • Sum up in a paragraph or two the main objectives of the business.
    • It should be concise and answer the following: Why does your business exist? What special services, skills or approaches make you stand out from your competitors? What will your business’ public image be? What do you want for your customers?
  • Marketing Overview

    • Describe target market (group of customers you sell to)
    • Illustrate present or future competition
    • Relate what edge your product has in the existing market
  • Business Summary

    • Include essential background information and structure of business.
    • Description of Business’ Legal Entity
    • Descriptive overview of products or services offered
    • Overview of business assets and future projections
    • Any specifications in regards to the business location
    • Other miscellaneous facets of business:
      • record-keeping
      • security
      • insurance
  • Marketing Strategy

    • Describe the marketing campaign that will be undertaken.
      • Include market entry plan (if a new company)
      • Role of location in marketing methods
      • Pricing strategy
    • Plan for distributing products/services.
    • Provide a summary of industry trends and advanced planning through aSWOT analysis.
  • Management Structure

    • Description of how the company is organized
      • What are the job titles?
      • What are the responsibilities of each position?
      • The people chosen for relevant positions (if applicable)
  • Financial Overview

    • Sum up your business’ financial requirements.
    • Provide a statement describing your funding sources and how you intend to apply said funds.
    • Describe your budget.
    • Provide a three-year income projection and a break-even analysis graph.
    • Provide statements reflecting past performance.
    • Provide a balance sheet with a summary conclusion section

Want to start your business plan faster? Refer to this site.

LEAVE A REPLY

Please enter your comment!
Please enter your name here