Bakery Business Plan Outline - Everything You Need to Know
Creating a bakery business plan outline allows a potential business owner to analyze each area of the company from the smallest to the largest details.3 min read
Creating a bakery business plan outline allows a potential business owner to analyze each area of the company from the smallest to the largest details.
Information for Writing a Bakery Business Plan
An executive summary ranges from one to four pages depending on the what's involved with the individual business. The goal is to pique the reader's interest, which could lead to face-to-face meetings with potential investors.
Detailing what the focus of the business is, why it will be successful, and its potential growth serves as an introduction to investors. What you write should reflect your most current business model.
In the business plan, include information such as the bakery's location, the space needed to operate the business, the anticipated cost of building space, an estimate of equipment costs, company goals, and potential profits.
Tips to consider include:
- The first paragraph should "hook" the reader, which means enticing them to continue reading.
- Use clear and concise language without going overboard and degrading the content level and detail. Use bullet points, when applicable, to make reading easier and faster.
- Discuss the core strengths of your business, such as a strong management team, an exceptional product line, or a service not provided in your area.
- Know your target audience. Use language that speaks to individuals based on their profession and educational background. In other words, make it easily understandable.
- Change, tweak, and update the executive summary as needed to keep it interesting and on target.
- Stay realistic with statements and offer tangible facts. Avoid empty claims that can't be proven.
- Be authentic in the summary and let your passion for the business show in what you present.
Company Overview and Description
Write an overview of your business. In it, explain your reason(s) for wanting to open a bakery. Outline the finer details of your plan and any ideas you have for future development. Your overview should answer these questions:
- What is your business niche?
- Is there a specific theme for the bakery?
- Who is the audience the bakery is targeted on?
- Are there any special promotions or recipes?
- What differentiator will you use for strategy?
- What is the legal structure of the business?
- What are the short and long-term goals for the business?
When researching market analysis information for your area, consider the demographics, such as the age group and income level of your target audience. It's also important to learn about any trends, such as seasonal developments that could affect your business and how much people generally spend on eating out in your area.
Also, research your competitors and learn from things they've done to be successful. Determine how you can use this information to take your business one step further on the road to success. Finally, learn about the codes and regulations that apply to your business and how you'll implement them to be in compliance.
In this section, describe your product(s) and how they'll be supplied to your customers. Be detailed. Include why you've chosen to sell these items and how these particular products can help your business.
Details on bakery items should include any specialty items, whether it's a new product that can be patented, if the items are culturally specific, plans to develop new recipes in the future, events or situations that could cause the business to decline, and information on where you'll be buying ingredients and equipment.
How your business will be organized and managed is an integral part of the business plan. This section will lay out the structure for the management of the business. It will also include any information about other partners involved with the business.
A management plan is a visual tool to prove your qualifications to potential investors. Questions to address include:
- Are there other partners?
- What percentage of the business will yo own?
- How many employees are there?
- Will you be baking or working behind the scenes?
- Will you retain an accountant or financial advisor?
- Are others involved in day-to-day decision making?
Marketing and Public Relations Strategies
Develop an advertising strategy, including public relation events, to target your market. Consider social media, flyers, and newspaper adverts to promote your business.
Detail the operational costs and estimate a timeframe for turning a profit. Most importantly, be realistic.
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