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Writing a Business Plan
While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand. Because every company has a different goal and product or service to offer, there are business plan templates readily available to help you get on the right track. Many of these templates can be adapted for any company. In general, a business plan writing guide will recommend that the following sections be incorporated into your plan.
The executive summary is the first section that business plans open with, but is often the last section to actually be written as it’s the most difficult to write. The executive summary is a summary of the overall plan that highlights the key points and gives the reader an idea of what lies ahead in the document. It should include areas such as the business opportunity, target market, marketing and sales strategy, competition, the summary of the financial plan, staff members and a summary of how the plan will be implemented. This section needs to be extremely clear, concise and engaging as you don’t want the reader to push your hard work aside.
The company description follows the executive summary and should cover all the details about the company itself. For example, if you are writing a business plan for an internet café, you would want to include the name of the company, where the café would be located, who the main team members involved are and why, how large the company is, who the target market for the internet cafe is, what type of business structure the café is, such as LLC, sole proprietorship, partnership, or corporation, what the internet café business mission and vision statements are, and what the business’s short-term objectives are.
Services and Products
This is the exciting part of the plan where you get to explain what new and improved services or products you are offering. On top of describing the product or service itself, include in the plan what is currently in the market in this area, what problems there are in this area and how your product is the solution. For example, in a business plan for a food truck, perhaps there are numerous other food trucks in the area, but they are all fast –food style and unhealthy so, you want to introduce fast food that serves only organic and fresh ingredients every day. This is where you can also list your price points and future products or services you anticipate.
The market analysis section will take time to write and research as a lot of effort and research need to go into it. Here is where you have the opportunity to describe what trends are showing up, what the growth rate in this sector looks like, what the current size of this industry is and who your target audience is. A cleaning business plan, for example, may include how this sector has been growing by 10% every year due to an increase in large businesses being built in the city.
Organization and Management
Marketing and sales are the part of the business plan where you explain how you will attract and retain clients. How are you reaching your target customers and what incentives do you offer that will keep them coming back? For a dry cleaner business plan, perhaps if they refer customers, they will get 10% off their next visit. In addition, you may want to explain what needs to be done in order for the business to be profitable. This is a great way of showing that you are conscious about what clear steps need to be taken to make a business successful.
Financial Projections & Appendix
The financial business plan section can be a tricky one to write as it is based on projections. Usually what is included is the short-term projection, which is a year broken down by month and should include start-up permits, equipment, and licenses that are required. This is followed by a three-year projection broken down by year and many often write a five-year projection, but this does not need to be included in the business plan.
The appendix is the last section and contains all the supporting documents and/or required material. This often includes resumes of those involved in the company, letters of reference, product pictures and credit histories. Keep in mind that your business plan is always in development and should be adjusted regularly as your business grows and changes.
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Your Guide to Writing a Business Plan
If you’re starting a new business, then you need an effective plan. Not only does this enable you to plan your company, but it also gives potential clients an insight into how your business works. A business plan is also vital if you want to attract investors or secure a loan from the bank. Drafting a business plan is a complex process, but it doesn’t have to be. This guide will ensure you create a definite plan to impress investors and clients.
When creating your business plan, there are some essential elements you must include. The Executive Summary provides a description of your business, and what you hope to achieve. People usually write at least one page, but leave their Executive Summary until last.
You’ll also need to detail what your business offers and define your target audience. This makes it easier for people to see whether your company has a chance of succeeding. The opportunity section is also an excellent way for you to see what competitors offer and how you can create a USP to stand out from the competition.
Appealing to Investors
Every business that wants growth and prosperity must ensure they promote themselves to potential investors. Business plans aren’t just about what the business is, but who is part of it too. Detail your current team members and explain what they bring to the company. Investors want to know they’re making a wise investment.
Your current finances and financial forecast are also essential aspects of your business plan. Look at your products, how much you’re selling them for and what kind of profit margin you expect to gain. It’s also vital you detail your outgoings and look at how various economic situations could affect your finances.
Writing a Winning Executive Summary
There are problems in every market, and a successful business solves that problem. If you can show how you’ll be able to offer solutions in your business plan, you’ll appeal to investors. Choose your target audience based on research and ensure you show your research. There are many ways to conduct market research including defining SOMs, SAMs and TAMs.
TAM stands for Total Available Market and comprises everyone you want your product to reach. Your Segmented Addressable Market (SAM) is a specific portion of the market you’ll target. This is important because it shows you’re able to direct your product at the right people and not just everyone. Your SOM (Share of the Market) is what you feel you’ll gain with your product.
How to Determine Pricing
Pricing your product is one of the most challenging things you’ll have to do. There are many things to consider, such as how much it’s worth and making sure you don’t charge unrealistically. Many new businesses believe undercharging is the best way to go, but doing this can undermine your company’s authority and cause fewer people to be interested in investing.
Market-based pricing involves looking at your competitors and evaluating their prices. Which company has the most customers? How does their pricing match others? These are all vital aspects you should consider. Remember, customers expect quality and a fair price, so make sure you combine the two.
Investors and banks want to know that you’ve considered what the future will hold for your company. When you write your business plan, be sure to take into account how you see the company growing, what you’ll do to ensure it thrives and that you understand the potential risks. Banks and investors want to know that you can build a business and are aware of the obstacles you’ll have to overcome.
Starting your own business doesn’t have to be difficult. If you ensure you produce a robust business plan, it can be an exciting process. Your business is part of your future, so start by outlining your goals and look forward to seeing results.
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Sample # 1 Bakery Business Plan
The bakery provides freshly prepared bakery and pastry products at all times during business operations. Six to eight moderate batches of bakery and pastry products are prepared during the day to assure fresh baked goods are always available.
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Starting a Bakery Business Plan (PDF)
A bakery can also be known as a pastry shop or a confectionary. When dealing with the bakery industry we are looking at products such as bread, cakes, pastries, cookies, muffins, and pies, amongst others. It is basically food products baked from flour or other grain meals. A bakery business is a very profitable venture if operated efficiently. It is not enough to be able to make good bread or cakes. A bakery business is an enterprise that requires resources and planning. The quality of your output is important. However, you also have to create an environment within which customers can access your products at great prices. At the highest level, the bakery business is capable of producing incredible profits and prestige. This article will outline how to start the bakery business, and the bakery business plan – PDF, Word and Excel.
Above all you should develop a passion for the enterprise given the hard work that is required of you. The great thing about this model is the possibility of transitioning from other corporate endeavors straight into bakery. Moreover, you can do it as a side business without hindering your other profession. The range of possibilities includes a family-owned and run home business. You can also become a major corporate entity that caters for major events.
Before you go further along with the bakery business this must be your primary focus. Who do you intend to cater for? This question is your launch pad into ultimately coming up with a comprehensive marketing strategy for your bakery business. In fact, insights from your market research have ripple effects towards all other components in setting up the bakery business. You must appreciate the fact that you must niche which entails targeting a particular market. It’s not that easy to cater for the whole breadth of the market because that might be unsustainable due to high costs. Therefore you must be diligent enough to figure out which specific portion of the market you’ll target. When conducting market research you must closely study people’s eating out behaviours, check the age range dynamics and also analyse the levels of income of your prospective target market. This is why it is important to have a good bakery business plan before you start this business.
Location and Premises
This here is a component that’ll be greatly informed by your target market. You want a scenario where your bakery store is ideally located at a spot characterised by high volume vehicle and foot traffic. It shouldn’t just be about traffic only though; it must be close to or in an area where your intended customers are abundantly found. Another vital feature to consider is the availability of adequate and secure parking space and easy access to mass transportation. The best approach to take is to locate your bakery shop in an area close to other businesses that can lead to customer inflows for you. For instance, locating it at a shopping centre, shopping mall or central business district (CBD) creates prospects of regular customer inflows. The premises should be large enough to accommodate all your equipment, offices, and space for customers. Your bakery business plan should cater for the costs of buying or leasing the premises.
There are already established bakeries wherever you might think to start a bakery business. There are also new and upcoming bakeries as well. Thus you cannot turn a blind eye to competition. You have to study all your competitors to figure out their business profiles. This entails their products and services, market shares, distribution network, operating times, payment methods, customer segments, and so on. A thorough look into all this shows you loopholes and market gaps.
You have to seek to build a bakery business that has several differentiators. Tweaking operating hours can become one of your differentiators. A strategic location can also be a differentiator. It could be a unique product range that can differentiate you. Maybe it could be allowing online orders, payments and offering home deliveries. All these aspects are best figured out after studying your competitors. Remember, consumers are always looking for convenience and cost savings.
Equipment for a Bakery Business
The bakery will require a variety of equipment. The fixed items will delve a lot into your initial capital outlay. This is because you will typically purchase big ticket items such as ovens, fridges, mixers, bakeware, bread slicers, display case and utensils. The costs of purchasing the bakery equipment should be included in your bakery shop business plan. You may consider purchasing preowned equipment as a way of cutting down your startup costs.
Permits/Licenses, Insurance & Business Bank Account
The first thing is to register your bakery business. After that you must get properly licensed. A bakery business is in the food industry. In the food industry there are strict regulatory frameworks to adhere to. You will need to apply for a business license from the relevant often local (municipal) authorities. Prior to getting that food license your earmarked premises will be thoroughly inspected. It varies from place to place but there will be a long list of things your premises must have or satisfy. Some of the critical areas inspected or inspected for are drainage system, waste management system, ventilation system, sanitary facilities, and Hazard Analysis and Critical Control Points (HACCP), amongst others.
Insurance & Business Bank Account
There are so many things that could go wrong in a bakery. Important assets can get damaged or destroyed. There are several risks that can affect workers as well. The smartest thing to do is to get insured. Contact your nearest, reputable insurance provider and get the necessary guidance. This might seem unnecessary but when something happens in the future you will be glad you got insured.
Then buttress insurance by opening a business bank account for your bakery business. It helps make financial management easier. Most importantly it will help separate your personal finances from those of your bakery business. In the event something catastrophic happens with the bakery business, it will sink alone. It will not sink with you. This is a principle in financial literacy many people in business are yet to grasp.
There are so many different types of bakery businesses that you may want to explore. Your decisions are determined by four primary considerations:
- The amount of capital that you have
- Your skills and competencies
- The business aims, goals and objectives
- The tastes and preferences of your customers
Each of these factors can change throughout the planning and implementation process for the bakery business. Therefore, you need to constantly adjust your bakery business and product selection accordingly. You have a number of options and niches that might just suit your client base. Examples of products that your bakery can offer include bread, muffins, rolls, cakes, donuts, buns, pizza, tortillas, cookies, biscuits, pies, bagels, scones among others. The products you are going to offer should be included in your bakery business plan.
Staff And Management
The effective running of a bakery business requires a significant workforce. As a rule of thumb, your bakery staffing needs are always informed by your intended scale of operations. Some of the key areas in this business are operations management, financial management and inventory management. At the minimum you need pastry chefs, waiters, cashiers and logistics personell. Other required staff include accountants, supervisors, security team, stock controllers and managers, though this depends on the size of your bakery.
Your bakery should have sufficient number of well trained staff. This is because repeat purchases and ever-growing customer inflows are a product of swift and quality service from the staff. Having a small or skeletal staff makes it very difficult to provide swift service. Remember we are living in a fast-paced world where people don’t want to be kept waiting for too long. The salaries of all your employees must be catered for in the bakery store business plan.
An official launch is important.
Kick-starting your bakery business can get a boost from doing an official launch. This follows that you would have set up a website and social media accounts. This also follows that you would have been active and engaging with people online and on the ground. All that must culminate into an official launch along with a press release. You can offer free samples on the day as well. Adorn the place and make it lively on the day such that it attracts people. People generally love new outlets, new offerings, and free food. Your initial pricing should be penetration pricing. This means you price lesser than existing players to lure customers to your business. Make the most out of the official launch.
Used A Blended Marketing Approach (Offline And Online)
Afterwards the focus becomes building your audience online. By the way, incorporating online ordering and payments on your website will be a game-changer. Regularly post useful, fun, and informative content daily. Conduct online competitions with giveaways of your products or branded items. All your promotional material, be it physical or virtual, must be high definition. That is a must in the food industry if you want your marketing material to stand out. If your scale of operation is substantial consider potential bulk, recurring clients. Engage them with proposals on how you can be their supplier. These can be companies, food outlets, schools, and the like.
The market for bakery is huge and ever increasing. There is always huge demand of different types of baked goods. The market for a bakery include individuals, families, hotels, guest houses , supermarkets, companies and organizations. Your bakery should have fair prices that keeps you in business. Do not be tempted to compromise on quality as a means of correcting errors in your budgeting process. Those entrepreneurs that are running local family businesses should be careful about giving discounts to loved ones. This is because they could end up destroying the bakery business before it gets a chance to establish itself. A proper marketing strategy should be included in the bakery business plan.
Keys To Profitability
Your choice of location is a major part of making your bakery business profitable. You ideally need a spot that has high human and vehicle traffic. If that is not possible then the important key becomes your distribution network. The other key is to cultivate a huge clientele mostly comprised of bulk and recurring customers. These are customers who require your products in bulk daily. Economies of scale are a major aspect; scale your operations sooner. Identify your major costs and manage, preferably lessen them. For instance, 60 percent of costs may go to raw materials and remuneration. Your product range must be diversified and comprehensive but informed by market demand. This will ensure you always have and sell fast-moving products. This is one of the best food industry businesses you can start. There is vast room to diversify. You can scale and can pivot if needs be. Best of all, the market for baked foods is always there.
Pre-Written Bakery Business Plan (PDF, Word And Excel): Comprehensive Version, Short Funding/Bank Loan Version and Automated Financial Statements
For an in-depth analysis of the bakery business, we encourage you to purchase our well-researched and comprehensive bakery shop business plan. We introduced the business plans after discovering that many were venturing into the bakery shop business without enough knowledge and understanding of how to run the business, lack of understanding of the financial side of the business, lack of understanding of : the industry, the risks involved , costs and profitability of the business; which often leads to disastrous losses.
The StartupBiz Global bakery business plan will make it easier for you to launch and run your bakery business successfully, fully knowing what you are going into, and what’s needed to succeed in the business. This is a complete business plan for bakery. It will be easier to plan and budget as you will be aware of all the costs involved in setting up and running the bakery shop business.
Uses of the Bakery Shop Business Plan (PDF, Word And Excel)
The bakery shop business plan can be used for many purposes including:
- Raising capital from investors/friends/relatives
- Applying for a bank loan
- Start-up guide to launch your bakery business
- As a bakery shop business proposal
- Assessing profitability of the bakery business
- Finding a business partner
- Assessing the initial start-up costs so that you know how much to save
- Manual for current business owners to help in business and strategy formulation
Contents of the Bakery Business Plan (PDF, Word And Excel)
The business plan for bakery shop include, but not limited to:
- Marketing Strategy
- Financial Statements (monthly cash flow projections, income statements, cash flow statements, balance sheets, break even analysis, payback period analysis, start-up costs, financial graphs, revenue and expenses, Bank Loan Amortization)
- Industry Analysis
- Market Analysis
- Risk Analysis
- SWOT & PEST Analysis
- Operational Requirements
- Operational Strategy
- Why some people in the bakery business fail, so that you can avoid their mistakes
- Ways to raise capital to start your bakery business
The bakery shop business plan package consists of 4 files
- Bakery Business Plan – PDF file (Comprehensive Version – 83 Pages)
- Bakery Business Plan – Editable Word File (Comprehensive Version – 83 Pages)
- Bakery Business Plan Funding/Bank Loan Version- Editable Word File (Short version for applying for a loan/funding – 41 pages)
- Bakery Business Plan Automated Financial Statements – (Editable Excel File)
The business plan can be used in any country and can be easily edited. The financial statements are automated. This implies that you can change eg the percentage markup, salaries etc, and all the other financial statements will automatically adjust to reflect the change.
Click below to download the Contents Page of the Bakery Shop Business Plan (PDF)
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Get the Bakery Business Plan (PDF, Word And Excel)
Click Buy Now below to purchase using Paypal, Credit Card, or Debit Card. After you have purchased, you will immediately see the download link for the business plan package on the screen. You will also immediately get an email with the business plan download link. The Pre-written business plan package (PDF, Word, and Excel) costs $30 only!
If you want to purchase multiple business plans at once then click here: Business Plans Store.
The business plan package is a zipped compressed file containing the PDF, Word and Excel documents. To open the package after downloading it, just right click, and select Extract All. If you have any problems in downloading and opening the files, email us on [email protected] and we will assist you.
We wish you the best in your bakery business! Check out our collection of business plans , and more business ideas .
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Bakery Business Plan
Ready to start your own bakery business? Set yourself up for success by creating a solid business plan. Download this business plan template, with pre-filled examples, to inspire your own plan.
Download a free bakery business plan template in PDF or Word doc format
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What you'll get with this template:
- A complete business plan Unlike other blank templates, our business plan examples are complete business plans with all of the text and financial forecasts already filled out. Edit the text to make the plan your own and save hundreds of hours.
- A professional business plan template All 550 of our business plans are in the SBA-approved format that’s proven to raise money from lenders and investors.
- Instructions and help at every step Get help with clear, simple instructions for each section of the business plan. No business experience necessary.
- A Word doc you can edit We don't just have PDF documents that make editing a challenge. Each plan is available in Word format so you can start editing your business plan example right away.
Key sections in this bakery business plan:
All of our sample business plans are complete and include all of the sections that bankers and investors expect to see. Every plan includes the following sections:
- Executive Summary : A quick overview of your plan and entices investors to read more of your plan.
- Company : Describes the ownership and history of your business.
- Products and Services : Reviews what you sell and what you’re offering your customers.
- Market Analysis : Describes your customers and the size of your target market.
- Strategy and Implementation : Provides the details of how you plan on building the business.
- Management Team : An overview of the people behind the business and why they’re the right team to make the business a success.
- Financial Plan : A complete set of forecasts including a Profit and Loss Statement, Cash Flow Statement, and Balance Sheet.
If you're interested in learning how to write a business plan, read our free in-depth guide to writing a business plan , download our free Business Plan Template , and check out LivePlan —our award-winning business planning software.
Looking for a sample business plan PDF? You can download a few PDF examples below:
- Accounting and Bookkeeping Sample Business Plan PDF
- Agriculture Farm Sample Business Plan PDF
- Cleaning Service Sample Business Plan PDF
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