5. Financial Plan (300 – 500 words)
The financial plan consists of a 12‐month profit and loss projection, a cash‐flow projection, a projected balance sheet, and a break‐even calculation. Together they constitute a reasonable estimate of your company’s financial future.
6. Conclusion (300 – 400 words)
Puffy & Milicious is a family business artisan bakery opened in Dhahran to serve day to day freshly baked flour-based goods. E-mail: email@example.com
2. General business description:
- Our mission statement is to nourish bodies, minds, and souls of our customers by serving high quality baked goods that taste as good they look. As a family, we are proud of what we do and our pride shows in our beautiful artisan bread and sweets we make each day. We choose our sources carefully just the way we shop from groceries for our home, we believe in natural ingredients only. We aim is to delight our customers with our carefully baked bread and sweets with a wide variety of products to satisfy all customers tastes and preferences.
- As an ambitious and hardworking family, we fully support local businesses. We choose our ingredients from local farmers because we believe in the quality of products we obtain daily from our land. It is important to us create a cheerful and never-forgettable experience to our customers by serving delicious products and great services. We ensure building relationships that are based on trust and respect with our customers and suppliers because we believe the success of any business starts from here. We love “green’! to us, it is important to do everything we could to keep this planet sustainable so we use natural kraft paper for our packaging and paper box containers for large quantities that are compostable.
It is important to us to serve products that are made from scratch using local organic ingredients and to seek customers satisfaction and gain their loyalty. Our products are available to everyone in the town. We serve bread for cookers, croissants, pastries and sandwiches for all age students, workers and employees, muffins and cupcakes for our little customers, and cake for events and celebrations. The industry is a growth industry, there are a lot of bakeries around the city who serve similar products to ours. Our advantage is that we believe in our sources and ingredients and most importantly, our recipes. We are the only bakery in town who use their sources from local farms and serve gluten-free products to those who suffer from allergy. We interact with our customers nicely and professionally to keep seeing them again and again, we also ensure building good customer relationships with our old and new customers to gain their trust and for us to be the first bakery that pops up in their minds. Because we love happiness we tend to celebrate each seasonal event creatively to make our customers happy and to attract more new customers.
4. Marketing plan:
A market plan helps in determining problems in our business and understand customers’ needs and preferences. We use both secondary and primary data collection for our business through surveys, focus group discussions, research from different companies, and reports to gain customers’ insights. For our business, the market has grown tremendously as compared to the past years. We estimate the student community’s growth to increase by 15% from 12000 customers to 17000 in two years. On the other hand, local customers will grow by a margin of 20%, that is from 9000 to 18000 customers in a span of one and half years. This is important for future forecasting.
Currently, the area has lots of restaurants, supermarkets, and shops. Our business is located directly along with the area’s main streets. The street exhibits heavy traffic and crafty shoppers, more so the college students. It is available to both ages ranging from children to adults, and we provide both gluten and non-gluten-baked foods suitable for all customers, including those allergic to wheat. We have made all allergenic considerations for all foods, for example, eggs, wheat, and yeast; thus, our products include spelled bread, muffins, yeast-free bread, and pastries. Our products are reach in nutrients and provide customers with a unique test.
The market research shows diversity, ranging from young to adults, and records tremendous growth each year; therefore, there is greater consumption of baked foods and large market size. Our target is allergenic individuals, regular customers, and diet craze individuals. Competition is not very stiff because we are the only bakers who proved both wheat and non-wheat products. Our strength is the sitting of the business location. It is accessible to all ranges of customers who are available at least twelve hours a day. We also deliver our products to local and nearby groceries. We have a bit of weakness in providing a wide selection of non-wheat products. Our marketing strategy aims at the allergy groups and children because they are the steadiest group of customers. We are explicitly fixing the needs of all groups of customers and providing quality food products. We are currently promoting our product through personal selling. We also do online ordering and delivery. We also sell to local groceries directly.
Our brand is clearly defined and different from others, and easy for potential customers to notice. Our promotion budget ranges from 1000 to 2000 dollars per year as we strive to expand and expand the budget in the future. Our prices are affordable to all customers, with the current competition we set our prices according to trends and demand sometimes they shoot up and reduce. Price is very vital, especially when there is a need to retain customers within the competitive range. We make payment through visa and master card. We distribute our products to groceries and homes through intermediaries. We utilize our own means to do door to door deliveries for orders made online. There are many barriers to market entry, such as threats from competitors providing almost identical products at relatively low prices. We experience constant disruptions, especially from the health officers. To enable safe entry into the market we are designing our prices in a crafty way to meet dynamic customer needs while maximizing profits. We follow all the health guideline requirements.