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Baking Supply Store Business Plan [Sample Template]
By: Author Tony Martins Ajaero
Home » Business ideas » Food Industry
Do you want to start a baking supply store and need to write a plan? If YES, here is a sample baking supply business plan template & feasibility report.
The fact that players in the bakery and confectionery industry require steady supply of baking supplies for them to be able to produce their products means that there is good business for suppliers of baking ingredients. So, if you are thinking of starting a business with huge returns on investment, then one of your best bets is to venture into the baking supply business.
There are several baking ingredients and supplies you can supply to various bakeries and confectionery shops in and around you. Just like all other investment vehicles, there are potential down sides that you need to look out for if you want to start a baking supply business.
Part of what you need to do to make headway in this business is to ensure that you have good business relationship with manufacturers of the baking supplies and also have good business network with the end users (bakeries, and bakers et al).
A Sample Baking Supply Business Plan Template
1. industry overview.
Those that are involved in the baking supply business are part of the Fresh Bread & Bakery Goods Wholesaling industry and players in this industry are made up of companies that perform merchant wholesale distribution of fresh bread and bakery products, as well as manufacturers’ sales branches and offices that segment out their wholesale distribution routes.
A good percentage of businesses in this industry engage in the distribution of breads, rolls, cakes, cookies, crackers and baking supplies to retail and food service customers across the united states. Bread and baked goods are staple products in the American pantry; therefore, the industry is somewhat protected from fluctuations in household disposable income and business cycles.
If you are a close watcher of the fresh bread & bakery goods wholesaling industry, you will agree that over the past five years, the industry has benefited from an expanding number of households with higher incomes. One major trend that has significantly altered the landscape of the industry is changes in dietary trends. Increased merger and acquisition activity during the period resulted in increased internal competition.
Statistics has it that in the United States of America alone, there are about 9,030 registered and licensed fresh bread & bakery goods wholesaling companies responsible for employing about 59,388 people and the industry rakes in a whooping sum of $84 billion annually.
The industry was projected to grow at a 5.3 percent annual growth within 2014 and 2019. It is important to state that Grupo Bimbo SA has the lion market share in this industry.
The fresh bread & bakery goods wholesaling industry is highly regulated in the United States of America and anyone who aspires to start a fresh bread & bakery goods wholesaling or supply business must apply and obtain a license before they can legally operate in the industry.
Over and above, the fresh bread & bakery goods wholesaling industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale supplying baking supplies to small bakery and cake shops or you can choose to start on a large scale supplying to big time bakeries in key cities through the United States of America.
2. Executive Summary
Tanya Martins™ Baking Supplies and More, Inc. is a registered baking supply business that will engage in the supply of baking products to players in the industry. Our warehouse and office will be located in Santa Fe, Galveston County – Texas.
We have been able to lease a facility that is big enough (a 15 thousand square foot facility) to fit into the kind of standard baking supply store/warehouse that we intend launching and the facility is located in a corner piece building in the biggest baking supplies market in Galveston County – Texas.
Tanya Martins™ Baking Supplies and More, Inc. will engage in the distribution of baking supplies to bakeries and confectionaries in and around our target location. We are set to service a wide range of clientele in and around Galveston County – Texas.
We are aware that there are several chains of baking supply stores all around Galveston County – Texas, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.
Tanya Martins™ Baking Supplies and More, Inc. will ensure that all our customers are given first class treatment whenever they order baking supplies from us. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large they may grow to.
We will ensure that we get our customers involved in the selection of the types of raw materials that we will be dealing in and also when making business decisions that directly affect them.
Tanya Martins™ Baking Supplies and More, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products.
Tanya Martins™ Baking Supplies and More, Inc. is owned and managed by Tanya Martins and her immediate family members. Tanya Martins has a B.Sc. in Business Administration, with over 5 years’ experience in the fresh bread & bakery goods wholesaling industry, working for some of the leading brands in the United States.
3. Our Products and Services
Tanya Martins™ Baking Supplies and More, Inc. is in the fresh bread & bakery goods wholesaling industry to service a wide range of clients and of course to make profits, which is why we will ensure we make available a wide range of baking supplies from top bakery goods manufacturing companies in the United States and other countries of the world.
Our product offerings are listed below;
- Cooking oils and margarine
- Refined sugar
- Baking mixes and dough
- Cookies and cakes
- Bread and rolls
- Other baked goods, including crackers
4. Our Mission and Vision Statement
- Our vision is to become the leading brand in the fresh bread & bakery goods wholesaling industry in the whole of the state of Texas.
- Our mission is to establish a world – class baking supply store business that will make available a wide range of baking supplies from top bakery goods manufacturing companies at affordable prices to bakeries to retailers in Galveston County – Texas and other key cities in the United States of America where we intend opening our supply chain network.
Our Business Structure
Tanya Martins™ Baking Supplies and More, Inc. do not intend to start on a small scale; our intention of starting our business is to build a standard baking supply store in Galveston County – Texas.
Although our baking supplies stores business might not be as big as Grupo Bimbo SA and co, but will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business. We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Store/Warehouse Manager
- Human Resources and Admin Manager
- Merchandise Manager
Sales and Marketing Manager
Information Technologist
- Accountants/Cashiers
- Customer Services Executive
Truck and Van Drivers
5. Job Roles and Responsibilities
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversee the smooth running of the daily office activities.
Store Manager:
- Responsible for managing the daily activities in the store / warehouse
- Ensures that proper records of baking supplies and related items are kept and warehouse does not run out of products
- Ensure that the warehouse and store facility is in tip top shape and goods are properly arranged and easy to locate
- Interfaces with bakery goods manufacturing companies who manufacture baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies
- Control baking supplies distribution and supply inventory
- Supervise the workforce in the baking supplies warehouse and sales floor.
Merchandise Manager
- Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
- Help to ensure consistent quality of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies are purchased and retailed in good price that will ensure we make good profit
- Responsible for the purchase of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies for the organization
- Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information and analyze the volumes of transactional data generated by customer purchases
- Identify, prioritize, and reach out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Document all customer contact and information
- Represent the company in strategic meetings
- Help increase sales and growth for the company
- Manage the organization website
- Handles the e-commerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manage logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
- Manage the organization’s CCTV
- Handles any other technological and IT related duties.
Accountant/Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
- Assist in loading and unloading baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies
- Maintain a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
- Keep a record of vehicle inspections and make sure the truck is equipped with safety equipment, such as hazardous material placards.
- Assist the transport and logistics manager in planning their route according to a pick – up and delivery schedule.
- Inspect vehicles for mechanical items and safety issues and perform preventative maintenance
- Comply with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
- Collect and verify delivery instructions
- Report defects, accidents or violations
Client Service Executive
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
6. SWOT Analysis
Our intention of starting our baking supply business in Galveston County – Texas is to test run the business for a period of 3 to 5 years to know if we will invest more money, expand the business and then open other outlets all over key cities in the United State.
We are quite aware that there are several baking supplies stores all over Galveston County – Texas and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.
We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.
Tanya Martins™ Baking Supplies and More, Inc. employed the services of an expert HR and Business Analyst with bias in supply chain business to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.
This is the summary of the SWOT analysis that was conducted for Tanya Martins™ Baking Supplies and More, Inc.;
Our business is located in a city with loads of bakeries and confectionery shops, and also we can boast of having good business relationship with top producers of (baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies) in and around Texas.
A major weakness that may count against us is the fact that we don’t have our own factory, we are a new baking supply outlet and we don’t have the financial capacity to compete with multi – million dollar supply stores when it comes to supplying products at a rock bottom prices.
- Opportunities:
The fact that we are going to be operating our baking supply company in one of the busiest baking supplies market in Galveston County – Texas provides us with unlimited opportunities to supply our baking spices, cooking oils and margarine, refined sugar, flour, baking mixes, dough and other supplies to a large number of bakeries. Despite low-carb and gluten-free dietary trends, revenue is expected to grow hence providing opportunities for us.
Some of the threats we are likely going to face comes from the persistent dietary stigma against carbohydrates and gluten which of course will likely limit growth over the coming years. Additionally, growth from manufacturers’ sales branches and offices (MSBOs) will continue to threaten smaller, traditional wholesalers.
It is a fact that economic downturn affects purchasing / spending power especially baking supply businesses. Another threat that may likely confront us is the arrival of a new baking supply stores outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for the business.
7. MARKET ANALYSIS
- Market Trends
If you are conversant with the trend when it comes to the baking supplies business, you will notice that consumers have increasingly sought out higher-priced multi-grain, whole-wheat and other artisanal products, to the detriment of white bread sales.
As the consumption of wheat flour and, consequently, many industry products is expected to stagnate, a continued shift toward higher-priced, healthier options will drive growth for industry operators.
A close watch on the industry activities reveals that the supply of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough etc. was hit hard by the recent economic downturn and experienced a decline in revenue in recent time.
As part of marketing strategies, baking supplies companies partner with key players who are into the production of baking supplies with the purpose of monopolizing the supply of their goods.
8. Our Target Market
We have positioned our baking supplies company to service businesses that make use of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes, dough and other baking supplies in and around of Galveston County – Texas.
We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.
Our competitive advantage
A close study of the fresh bread & bakery goods wholesaling industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.
We are aware of the stiff competition and we are prepared to compete favorably with other leading baking supplies stores in Galveston County – Texas and throughout the United States.
Tanya Martins™ Baking Supplies and More, Inc. is launching a standard baking supplies stores that will indeed become the preferred choice for key players in the industry in Galveston County – Texas and every other location where our outlets will be opened.
Our baking supplies stores is located in a corner piece property in the largest baking supplies market in Galveston County – Texas.
We have enough parking space that can accommodate well over 10 cars/trucks per time. One thing is certain, we will ensure that we have a wide range of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes, dough and other baking supplies available in our warehouse and store at all times.
It will be difficult for customers to visit our store and not see the type of baking supplies that they are looking for. One of our business goals is to make Tanya Martins™ Baking Supplies and More, Inc. a one stop baking supplies shop for our customers at all levels.
Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives.
We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Tanya Martins™ Baking Supplies and More, Inc. is in business to retail/supply a wide range of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes, dough and other baking supplies to bakeries in and around Galveston County – Texas.
We are in the industry to maximize profits and we are going to ensure that we achieve our business goals and objectives. Tanya Martins™ Baking Supplies and More, Inc. will generate income by;
- Baking spices
10. Sales Forecast
One thing is certain when it comes to baking supplies stores, if your store is stocked with various types of baking supplies and is centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue for the business.
We are well positioned to take on the available market in Galveston County – Texas and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.
We have been able to examine the fresh bread & bakery goods wholesaling industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Tanya Martins™ Baking Supplies and More, Inc., it is based on the location of our business and other factors as it relates to baking supplies stores startups in the United States;
- First Fiscal Year (FY1): $250,000
- Second Fiscal Year (FY2): $350,000
- Third Fiscal Year (FY3): $550,000
N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same baking supplies as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location for Tanya Martins™ Baking Supplies and More, Inc. we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market and become the preferred choice for key players in the industry in and around Galveston County – Texas.
We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the baking supplies stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Galveston County – Texas.
In summary, Tanya Martins™ Baking Supplies and More, Inc. will adopt the following sales and marketing approach to win customers over;
- Introduce our baking supplies stores by sending introductory letters alongside our brochure to bakeries, bakers, cake and confectioneries shops and other key stakeholders in and around Galveston County – Texas
- Ensure that we have a wide range of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies from different manufacturing brand at all times.
- Make use of attractive hand bills to create awareness and also to give direction to our baking supplies stores
- Position our signage / flexi banners at strategic places around Galveston County – Texas
- Position our greeters to welcome and direct potential customers
- Create a loyalty plan that will enable us reward our regular customers
- Engage on roadshows within our neighborhood to create awareness for our baking supplies stores.
- List our business and products on yellow pages ads (local directories)
- Leverage on the internet to promote our business
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
11. Publicity and Advertising Strategy
Despite the fact that our baking supplies store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our baking supplies store.
Tanya Martins™ Baking Supplies and More, Inc. has a long – term plan of opening outlets in various locations all around key cities in the United States which is why we will deliberately build our brand to be well accepted in Galveston County – Texas before venturing out.
Here are the platforms we intend leveraging on to promote and advertise Tanya Martins™ Baking Supplies and More, Inc.;
- Place adverts on community – based newspapers, radio and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms and other platforms to promote our business.
- Ensure that we position our banners and billboards in strategic positions all around Galveston County – Texas
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Advertise our baking supplies stores business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and distribution trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals.
12. Our Pricing Strategy
Our pricing system is going to be based on what is obtainable in the baking supply line of business, we don’t intend to charge more and we don’t intend to charge less than our competitors are offering in and around Galveston County – Texas.
Be that as it may, we have put plans in place to offer discounts once in a while and also to reward our loyal customers especially when they refer clients to us. The prices of our baking spices, cooking oils and margarine, refined sugar, flour, baking mixes, dough and other baking supplies will be same as what is obtainable in the open market in the United States of America.
- Payment Options
The payment policy adopted by Tanya Martins™ Baking Supplies and More, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Tanya Martins™ Baking Supplies and More, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our clients make payment for our baking supplies without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
These are the key areas where we will spend our startup capital on;
- The total fee for registering the Business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
- Marketing promotion expenses for the grand opening of Tanya Martins™ Baking Supplies and More, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The cost for hiring a Business Consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
- The cost for shop remodeling (construction of racks and shelves) – $20,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
- The cost for Start-up inventory (stocking with a wide range of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies) – $250,000
- The cost for counter area equipment – $9,500
- The cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The cost of purchase and installation of CCTVs – $10,000
- The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
- The cost of launching a Website – $600
- The cost for our opening party – $7,000
- Miscellaneous – $10,000
We would need an estimate of five and hundred and fifty thousand dollars ($550,000) to successfully set up our baking supply stores in Galveston County – Texas. Please note that this amount includes the salaries of all the staff for the first month of operation.
Generating Funds/Startup Capital for Tanya Martins™ Baking Supplies and More, Inc.
Tanya Martins™ Baking Supplies and More, Inc. is a private business that is owned and financed by Tanya Martins and her immediate family members. They do not intend to welcome any external business partners which is why she has decided to restrict the sourcing of the startup capital to 3 major sources.
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
14. Sustainability and Expansion Strategy
Part of the plans we have in place to sustain Tanya Martins™ Baking Supplies and More, Inc. is to ensure that we continue to make available a wide range of baking spices, cooking oils and margarine, refined sugar, flour, baking mixes, dough and other baking supplies, deliver quality services, improvise on how to do things faster and cheaper.
We are not going to relent in providing conducive environment for our workers and also the required trainings that will help them deliver excellent services at all times.
From our findings, another factor that kills new businesses such as ours is financial leakages. In order to plug financial leakages, the management adopted the use of payment machine and accounting software to run the business.
We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better and the products they want to see in our store.
We will not waste time in adopting new technology, best practices and diversifying our services; expand our product and service offerings once the need arises.
Tanya Martins™ Baking Supplies and More, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
- Business Name Availability Check : Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the shop: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Packaging and Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Compilation of our list of products that will be available in our store: Completed
- Establishing business relationship with vendors – baking spices, cooking oils and margarine, refined sugar, flour, baking mixes and dough and other baking supplies manufacturers : In Progress
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Bakery Business Plan Template
Written by Dave Lavinsky
Business Plan Outline
- Bakery Business Plan Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
Bakery Business Plan
You’ve come to the right place to create your bakery’s business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their bakeries.
A bakery business plan is a plan to start and/or grow your bakery. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan, and details your financial projections.
How To Write a Bakery Business Plan & Sample
The following information will provide a description of what to include in your bakery business plan along with links to an example for that section:
- Executive Summary – The Executive Summary section provides a high-level overview of your plan. It should include your company’s mission statement, as well as information on the products or services you offer, your target market, and your business goals and objectives.
- Company Overview – The Company Overview section provides an in-depth look at your company, including information on your company’s history, ownership structure, bakery location, and management team.
- Industry Analysis – Also called the Market Analysis, in this section, you will provide an overview of the industry in which your bakery will operate. You will discuss trends affecting the industry, as well as your target market’s needs and buying habits.
- Customer Analysis – In this section, you will describe your target market and explain how you intend to reach them. You will also provide information on your customers’ needs and buying habits.
- Competitive Analysis – This section will provide an overview of your competition, including their strengths and weaknesses. It will also discuss your competitive advantage and how you intend to differentiate your bakery from the competition.
- Marketing Plan – In the Marketing Plan section, you will detail your marketing strategy, including your advertising and promotion plans. You will also discuss your pricing strategy and how you intend to position your bakery in the market.
- Operations Plan – In the Operations Plan, you will provide an overview of your store’s operations, including your store layout, staff, and inventory management. It also includes information on your warehousing and distribution arrangements and a list of long-term milestones or business goals.
- Management Team – In this section, you will provide information on yourself as the talented baker, your team, your experience, and your roles in the company.
- Financial Plan – In this section of your bakery financial plan, you will include your financial statements: income statement, balance sheet, and cash flow statement. It also includes information on how much funding you require and the use of these funds.
Next Section: Executive Summary >
Bakery Business Plan FAQs
How can i complete my bakery business plan quickly & easily.
Learn more about writing a successful plan by using this bakery business plan template .
Where Can I Download a Bakery Business Plan Template?
Get a downloadable bakery business plan template here .
What Are the Main Types of Bakeries?
A bakery can be retail or wholesale. A retail bakery sells baked goods directly to customers, while a wholesale bakery typically sells products to other businesses, like restaurants, grocery stores, specialty shops, and cafes.
How Do You Get Funding for Your Bakery?
Bakeries are most commonly funded with personal savings and bank loans. Credit card financing and angel investors are also popular forms of funding for bakeries.
Learn More: Seeking Funding from Angel Investors vs Venture Capitalists
What Are the Main Sources of Revenues and Expenses for a Bakery?
The primary source of revenue for bakeries is its baked good sales. This includes deliveries and online orders. Sometimes bakeries also earn from bulk orders from wholesalers or special occasions.
The key expenses for bakeries are rent, wages and salaries, ingredients and packaging.
What are the Steps To Open a Bakery Business?
Opening a bakery business can be an exciting endeavor. Having a clear roadmap of the steps to open a business will help you stay focused on your goals and get started faster.
1. Develop A Bakery Business Plan - The first step in opening a business is to create a detailed bakery business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your bakery business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your bakery business is in compliance with local laws.
3. Register Your Bakery Business - Once you have chosen a legal structure, the next step is to register your bakery business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to open your bakery business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Bakery Equipment & Supplies - In order to start your bakery business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your bakery business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful bakery business:
- How to Open a Bakery Business
Where Can I Get a Bakery Business Plan PDF?
You can download our free bakery business plan template PDF here . This is a sample bakery business plan template you can use in PDF format.
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How To Write a Business Plan for Bakery Supply Store in 9 Steps: Checklist
By alex ryzhkov, resources on bakery supply store.
- Financial Model
- Business Plan
- Value Proposition
- One-Page Business Plan
- SWOT Analysis
- Business Model
- Marketing Plan
Are you considering starting a bakery supply store? The wholesale or bulk purchasing model can be a lucrative business opportunity in the US. According to recent statistics, the bakery supply industry is experiencing steady growth, with an annual revenue of over $2 billion. This trend is expected to continue, making it the perfect time to enter this market and capitalize on its potential.
Before diving into this venture, it is essential to have a well-thought-out business plan in place. This checklist will guide you through the nine crucial steps of creating a comprehensive business plan for your bakery supply store.
Step 1. Research the bakery supply industry: Familiarize yourself with the latest industry trends, growth projections, and consumer demands. This research will form the foundation of your business strategy.
Step 2. Identify target market and competitors: Determine your ideal customer base and analyze your competitors' offerings and pricing. This information will help you differentiate your business and find your niche.
Step 3. Conduct a feasibility study: Assess the viability of your business idea by analyzing market demand, potential risks, and profitability. This step will help you make informed decisions and minimize financial risks.
Step 4. Define your unique selling proposition: Clearly articulate what sets your bakery supply store apart from the competition. Whether it's offering premium ingredients or exceptional customer service, having a unique selling proposition will attract and retain customers.
Step 5. Develop a comprehensive marketing strategy: Create a detailed plan to promote your bakery supply store. Utilize various marketing channels such as social media, online advertising, and partnerships with local businesses to maximize your reach and gain visibility.
Step 6. Determine startup costs and secure funding: Calculate the initial investment required to launch your bakery supply store. Consider expenses such as inventory, equipment, location, and employee wages. Explore funding options like loans, investors, or personal savings to finance your venture.
Step 7. Create a detailed operational plan: Outline your store's day-to-day operations, including inventory management, staffing, and customer service. Having a well-defined operational plan will ensure smooth functioning and efficiency.
Step 8. Establish relationships with suppliers and negotiate contracts: Identify reliable suppliers for your baking ingredients, equipment, and packaging materials. Negotiate favorable contracts to secure the best prices and terms for your bakery supply store.
Step 9. Assess legal and regulatory requirements: Familiarize yourself with the necessary permits, licenses, and regulations for operating a bakery supply store. Complying with legal obligations will prevent any legal issues and maintain your store's reputation.
By following these nine steps, you'll be well on your way to creating a successful business plan for your bakery supply store. Stay tuned for our upcoming blog posts, where we will dive deeper into each step and provide valuable insights to help you navigate the journey of starting your own business.
Research The Bakery Supply Industry
Researching the bakery supply industry is an essential first step in starting a successful bakery supply store. It allows you to gain a deep understanding of the market, identify trends, and assess the overall feasibility of your business idea. Here are some important aspects to consider during your research:
- Market Size: Determine the size of the bakery supply industry in your target area. Look for data on the number of bakeries, restaurants, and cafes that could potentially be your customers.
- Market Segmentation: Identify the different segments within the bakery supply industry. This could include retail bakeries, wholesale bakeries, specialty cake shops, or artisan bakeries. Understanding these segments will help you tailor your business to specific customer needs.
- Industry Trends: Stay updated on the latest trends in the bakery supply industry. This could include new baking techniques, popular ingredients, or packaging innovations. By being aware of these trends, you can offer relevant products and stay ahead of your competitors.
- Competitor Analysis: Research and analyze your competitors in the bakery supply industry. Identify their strengths, weaknesses, and unique selling propositions. This will help you differentiate your business and develop strategies to gain a competitive advantage.
- Customer Needs: Understand the needs and preferences of your target customers. This could include the types of baking ingredients and equipment they require, their budget constraints, and any specific packaging or delivery preferences.
Tips for Researching the Bakery Supply Industry:
- Attend industry trade shows and events to network with suppliers, manufacturers, and industry experts.
- Read industry publications, blogs, and forums to stay informed about the latest developments in the bakery supply industry.
- Conduct surveys or interviews with potential customers to gather insights into their needs and preferences.
- Join relevant professional organizations and associations to connect with other bakery supply store owners and gain access to valuable resources.
By thoroughly researching the bakery supply industry, you will gain the knowledge and insights necessary to make informed decisions throughout the planning and execution of your business plan. This understanding will help you position your bakery supply store for success and better serve your target market.
Identify Target Market And Competitors
Identifying your target market and understanding your competitors are vital steps in developing a successful business plan for your bakery supply store. By conducting thorough market research, you can gain valuable insights into the needs and preferences of your potential customers, as well as the competitive landscape you will be entering.
To identify your target market, start by analyzing the demographics, psychographics, and behavior patterns of your potential customers. Consider factors such as age, gender, income level, and location to define your ideal customer profile. For example, your target market could consist of local bakeries, restaurants, and cafes that are in need of reliable and affordable baking supplies.
Additionally, it is crucial to understand the specific needs and preferences of your target market. Conduct surveys, interviews, and focus groups to gather information about their buying habits, preferred brands, and specific product requirements. This will help you tailor your product offerings and marketing strategies to better cater to their needs.
When it comes to identifying your competitors, start by researching existing bakery supply stores in your area. Take note of their offerings, pricing strategies, and customer base. This will give you an idea of the competition you will be facing and help you differentiate your bakery supply store from others in the market.
Tips for identifying your target market and competitors:
- Study industry reports and publications to gather insights on market trends and customer preferences.
- Utilize online tools and platforms to conduct market research and gather data on your target market.
- Visit local bakeries, restaurants, and cafes to observe their buying patterns and understand their supply needs.
- Monitor social media channels and online forums to stay updated on customer feedback and competitor activities.
- Network with industry professionals and attend relevant trade shows and conferences to gain industry knowledge and insights.
By thoroughly identifying your target market and studying your competitors, you will be equipped with the knowledge needed to develop effective marketing strategies and differentiate your bakery supply store from the competition.
Conduct A Feasibility Study
Conducting a feasibility study is a crucial step in determining the viability of your business idea for a bakery supply store. This study allows you to assess the market demand, competition, potential challenges, and financial feasibility of your venture. Here are the key components to consider:
- Market Demand: Evaluate the demand for bakery supplies in your target area. Research the local bakery industry, cafes, restaurants, and other potential clients to determine if there is a need for a bakery supply store.
- Competition: Identify existing bakery supply stores in your area and analyze their offerings, pricing, and customer base. Look for any gaps or opportunities that you can leverage with your unique selling proposition.
- Challenges: Identify the potential challenges and obstacles you may face in establishing and running a bakery supply store. This could include sourcing reliable suppliers, managing inventory, maintaining quality control, and competing with larger distributors.
- Financial Feasibility: Conduct a financial analysis to determine the estimated startup costs, projected revenue, and potential profitability of your business. This should include a detailed breakdown of expenses, pricing strategy, and sales forecasts.
Feasibility Study Tips:
- Perform thorough market research to gather relevant data and insights.
- Consider conducting surveys or interviews with potential clients to gauge their interest and needs.
- Seek advice from industry experts or consultants to gain valuable input and industry knowledge.
- Take into account any unique factors or trends specific to the bakery supply industry in your region.
- Ensure your financial projections are realistic and based on accurate data.
By conducting a comprehensive feasibility study, you can determine the viability and potential success of your bakery supply store. This analysis will provide valuable insights for making informed decisions and formulating a solid business plan.
Define Your Unique Selling Proposition
In order to set your bakery supply store apart from competitors and attract customers, it is important to define your unique selling proposition (USP). Your USP is what differentiates your business from others in the market and gives customers a compelling reason to choose your store over the competition.
To define your USP, consider the following:
- Identify your target market: Understanding the specific needs and preferences of your target market will help you tailor your USP to meet their demands. Research their buying behavior, preferences, and pain points to identify gaps in the market.
- Assess competitor offerings: Analyze what your competitors are currently offering in terms of products, pricing, and services. Identify areas where you can differentiate yourself and offer something unique.
- Highlight your strengths: Identify your bakery supply store's unique strengths, such as a broad product selection, high-quality ingredients, exceptional customer service, or specialized expertise. These strengths will form the foundation of your USP.
Tips for defining your USP:
- Focus on solving customer problems: Your USP should address a specific problem or need that your target market has. By offering a solution or fulfilling a desire that competitors cannot, you will create a strong differentiator.
- Emphasize benefits, not just features: Instead of solely highlighting the features of your products or services, focus on the benefits customers will experience by choosing your bakery supply store. Whether it's cost savings, convenience, or superior quality, make it clear why customers should choose you.
- Create a memorable message: Craft a clear, concise, and memorable message that communicates your USP. Use this message consistently in your marketing materials and customer interactions to build brand recognition and loyalty.
By defining a strong and compelling USP, you will stand out in the competitive bakery supply industry and attract customers who value what your store offers. Regularly evaluate and refine your USP to stay relevant and continuously meet the evolving needs of your target market.
Develop A Comprehensive Marketing Strategy
Creating a comprehensive marketing strategy is essential for the success of your bakery supply store. This strategy will outline how you will promote your business, attract customers, and increase sales. To ensure the effectiveness of your marketing efforts, consider incorporating the following key components:
- Identify your target market: Determine who your ideal customers are and understand their needs and preferences. This will help you tailor your marketing messages and strategies to resonate with your target audience.
- Define your unique selling proposition (USP): Differentiate your bakery supply store from competitors by identifying and promoting the unique advantages and benefits your business offers. This can include factors such as competitive pricing, a wide variety of products, exceptional customer service, or convenient delivery options.
- Create a strong branding strategy: Develop a cohesive and visually appealing brand identity that reflects the essence of your bakery supply store. This includes designing a compelling logo, choosing appropriate colors and typography, and maintaining consistent branding across all marketing materials and platforms.
- Utilize online marketing channels: Leverage the power of digital marketing to reach a wider audience and increase brand visibility. Establish a strong online presence through a well-designed website, search engine optimization (SEO) techniques, social media marketing, email marketing, and online advertising.
- Implement offline marketing strategies: Don't underestimate the influence of traditional marketing methods. Consider distributing flyers or brochures in the local community, participating in trade shows or local events, and forming strategic partnerships with relevant businesses or organizations.
- Implement customer retention strategies: Focus not only on attracting new customers but also on retaining existing ones. Offer loyalty programs, provide exceptional customer service, and regularly engage with your customers through newsletters, special promotions, or personalized discounts.
- Analyze and measure results: Continuously monitor and evaluate the success of your marketing initiatives. Utilize analytics tools to track website traffic, social media engagement, and sales conversions. Adjust your marketing strategies based on the insights gained from these analyses.
- Conduct market research to understand the current trends, demands, and preferences in the bakery supply industry.
- Invest in professional photography to showcase your products and enhance their appeal in your marketing materials.
- Develop partnerships with local bakeries, restaurants, and cafes to increase brand exposure and capture a wider customer base.
- Consider offering free samples or hosting tastings to introduce potential customers to your high-quality baking ingredients.
- Stay updated with social media trends and algorithms to optimize your social media marketing strategies.
Determine Startup Costs And Secure Funding
One of the most crucial steps in starting a bakery supply store is determining the startup costs and securing funding to cover these expenses. This will help you understand how much capital you need to get your business off the ground and ensure that you have the necessary funds to support your operations.
When determining the startup costs, consider factors such as:
- Lease or purchase of a commercial space
- Renovations or construction costs
- Equipment and machinery
- Inventory of baking ingredients and packaging materials
- Furniture and fixtures
- Technology and software
- Marketing and advertising expenses
- Initial working capital
- Get quotes from multiple suppliers and contractors to ensure you have accurate cost estimates.
Once you have determined the startup costs, you need to secure funding to cover these expenses. There are several options to consider:
- Personal savings: If you have personal savings, you can use them to fund your bakery supply store. This allows you to have total control over your finances, but it also carries the risk of depleting your savings.
- Friends and family: You can approach friends and family members who believe in your business idea and are willing to invest in your venture. However, it's important to clearly define terms and expectations to avoid straining personal relationships.
- Small business loans: Many financial institutions offer small business loans specifically designed for entrepreneurs looking to start or expand their businesses. These loans typically require a solid business plan and collateral.
- Investors: If you're looking for a larger injection of capital, you can seek investment from angel investors or venture capitalists. These investors will typically require a stake in your business in return for their funding.
- Crowdfunding: Crowdfunding platforms allow you to raise funds from a large number of individuals who believe in your business idea. It requires effective marketing and a compelling pitch to attract potential donors.
- Consider a combination of funding sources to diversify your capital and reduce risk.
Securing funding for your bakery supply store is a critical step that requires careful consideration and planning. Make sure to thoroughly research and explore all available options to choose the funding method that aligns with your business goals and financial needs.
Create A Detailed Operational Plan
Creating a detailed operational plan is crucial for the success of your bakery supply store. This plan outlines the day-to-day operations, logistics, and processes that will enable your business to run smoothly and efficiently. Here are some important aspects to consider when developing your operational plan:
- Inventory Management: Efficient inventory management is essential to ensure you have the right baking ingredients, equipment, and packaging materials available for your customers. Implementing a robust inventory tracking system will help you monitor stock levels, track product movement, and minimize waste.
- Supplier Relationships: Building strong relationships with reliable suppliers is key to obtaining high-quality products at competitive prices. Research and identify reputable suppliers and negotiate favorable contracts that provide consistent availability, timely deliveries, and competitive pricing.
- Pricing Strategy: Determine how you will price your products to maximize profitability while remaining competitive in the market. Consider factors such as cost of goods, overhead expenses, and market demand.
- Order Processing and Delivery: Streamline your order processing systems to ensure efficient fulfillment and timely delivery for your customers. Implement processes to track orders, manage delivery routes, and optimize logistics to provide a seamless experience for your clients.
- Staffing and Training: Identify the staffing requirements for your bakery supply store and develop a plan to recruit, train, and retain skilled employees. Clearly define job roles, responsibilities, and expectations to ensure smooth operations and excellent customer service.
Tips for Creating a Detailed Operational Plan:
- Regularly assess and update your operational plan to adapt to changing market trends and customer needs.
- Consider investing in technology solutions, such as inventory management software, to automate processes and improve efficiency.
- Ensure that health and safety regulations are strictly adhered to in your operations, particularly when handling food products.
- Develop contingency plans for potential disruptions, such as supplier shortages, equipment breakdowns, or natural disasters.
- Continuously monitor customer feedback and reviews to identify areas for improvement and enhance customer satisfaction.
A well-crafted operational plan is essential for the smooth and efficient functioning of your bakery supply store. By carefully considering and addressing all the operational aspects, you will be well-equipped to provide exceptional products and services to your customers, maintain a competitive edge in the market, and achieve long-term success.
Establish Relationships With Suppliers And Negotiate Contracts
In order to run a successful bakery supply store, it is crucial to establish strong relationships with reliable suppliers. These suppliers will provide you with the necessary baking ingredients, equipment, and packaging materials to meet the demands of your customers. Here are some key steps to follow in order to establish these relationships and negotiate favorable contracts:
- Research potential suppliers: Conduct thorough research to identify potential suppliers who can meet your business needs. Look for suppliers that offer high-quality products, competitive pricing, and reliable delivery services.
- Reach out to suppliers: Contact the suppliers you have identified and express your interest in establishing a partnership. Meet with them in person or schedule a phone call to discuss your business requirements.
- Request quotes and samples: Request quotes from the suppliers for the products you require. Ask for samples of their products to ensure their quality meets your standards.
- Compare and evaluate: Compare the quotes, samples, and terms offered by different suppliers. Consider factors such as price, quality, delivery time, and customer service.
- Negotiate terms: Once you have selected a supplier that meets your criteria, negotiate the terms of the contract. Consider factors such as volume discounts, payment terms, delivery schedules, and return policies.
- Seek legal advice: Consult with a lawyer to review the terms of the contract before finalizing it. This will help protect your interests and ensure that the contract is fair and legally binding.
- Establish clear communication channels: Set up effective communication channels with your suppliers to facilitate order placements, inquiries, and issue resolution. This will help ensure a smooth and efficient supply chain.
- Build long-term relationships: Aim to build long-term relationships with your suppliers by maintaining open and honest communication, paying invoices on time, and providing feedback on their products and services.
- Stay informed about industry trends: Keep yourself updated about the latest trends and advancements in the bakery supply industry. This will help you make informed decisions when selecting suppliers and negotiating contracts.
- Consider forming partnerships: Explore the possibility of forming partnerships with local manufacturers or distributors. This can provide you with exclusive access to certain products and potentially lead to cost savings.
Assess Legal and Regulatory Requirements
When starting a bakery supply store, it is crucial to assess the legal and regulatory requirements that govern the industry. Compliance with these requirements is essential to ensure the smooth operation of your business and avoid any legal issues or penalties. Here are some key considerations:
- Business Licenses and Permits: Research and obtain the necessary licenses and permits required to operate a bakery supply store in your area. This may include a general business license, food service permit, and any specific permits related to selling baking ingredients.
- Food Safety Regulations: Familiarize yourself with the food safety regulations and standards that apply to the storage and handling of baking ingredients. Implement proper hygiene practices, storage protocols, and regular inspections to ensure compliance with these regulations.
- Labeling and Packaging Requirements: Understand the labeling and packaging requirements for bakery ingredients and products. Ensure that all labeling is accurate, clear, and complies with any specific regulations related to allergen disclosure.
- Employment Laws: Learn about the labor laws in your jurisdiction to ensure compliance in areas such as employee classification, working hours, minimum wage, and safety regulations. Develop policies and procedures to safeguard the well-being and rights of your employees.
- Tax Obligations: Consult with a tax professional to understand your tax obligations, including sales tax and income tax. Register for the necessary tax identification numbers and maintain accurate financial records to facilitate tax reporting and payment.
- Insurance Coverage: Protect your business and assets by acquiring comprehensive insurance coverage, such as general liability insurance, product liability insurance, and property insurance. Consult with an insurance agent to determine the appropriate coverage for your specific needs.
- Research local, state, and federal regulations to ensure compliance with all applicable laws.
- Consult with a business attorney or legal advisor for guidance on legal and regulatory matters.
- Stay updated on any new or revised regulations that may affect your bakery supply store and adapt your operations accordingly.
- Maintain organized records of all licenses, permits, and compliance-related documents for easy reference and inspections.
- Proactively train your staff on the legal and regulatory requirements to foster a culture of compliance within your bakery supply store.
Assessing and meeting the legal and regulatory requirements is an ongoing process. Stay vigilant, embrace continuous learning, and prioritize compliance to ensure the long-term success and sustainability of your bakery supply store.
In conclusion, starting a bakery supply store using the wholesale or bulk purchasing model can be a lucrative business opportunity in the US. By following the nine-step checklist outlined in this blog post, aspiring entrepreneurs can develop a comprehensive business plan that covers all the essential aspects of establishing and operating a successful bakery supply store. Conducting thorough research, identifying target markets, and establishing strong relationships with suppliers are key elements to ensure long-term success. With a well-defined unique selling proposition and a solid marketing strategy, bakery supply store owners can attract local bakeries, restaurants, and cafes and provide them with high-quality, competitively priced baking ingredients, equipment, and packaging materials. By considering the startup costs, securing funding, and addressing legal and regulatory requirements, entrepreneurs can set themselves up for a successful venture in the bakery supply industry.
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Bakery Business Plan Template
Written by Dave Lavinsky
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Bakery Business Plan
If you want to start a bakery business or expand your current one, you need a business plan.
Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their bakery businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a bakery business plan step-by-step so you can create your bakery’s business plan today.
Download our Ultimate Bakery Business Plan Template here >
How To Write a Business Plan For a Bakery
Executive summary.
The executive summary is the introduction to your business plan, although it is often written last. It helps investors and lenders quickly decide whether they are interested and should read more, so the first page must get right to the point. Include a concise description of your bakery (or bakery concept if you are a startup), a short analysis of the market, proof that customers are willing to pay for products, and an explanation of the unique qualifications that ensure your bakery will be a success.
Company Overview
This section of your bakery business plan provides a comprehensive look at the company’s history. Include details on your bakery’s legal structure, founding, location, and current business stage, as well as your past accomplishments and unique qualifications. Clearly explain anything that makes you a strong competitor in this market, such as existing contracts with retailers, a head baker with impressive restaurant credentials, or exclusive access to award-winning recipes.
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In this section you should also give an overview of the type of bakery you operate or will operate in the future.
For example, do you or will you operate a:
- Traditional bakery (selling breads, biscuits etc.)
- Commercial bakery
- Bakery specializing in wedding cakes
- Wholesale bakery
- Doughnut shop
- Pastry shop
- Bakery Cafe
- Food truck bakery
- Home Bakery
Industry Analysis
This section assesses that bakery industry and how your bakery fits into the existing landscape. Address any challenges that you unearth with a solid strategy for success. Also keep in mind that your market is not the entire baked goods market. Rather, it is your niche of that market.
For example, while the baking industry in the United States generates more than $30 billion per year in revenues, your bakery will only comprise a fraction of that amount depending upon your geography, focus, etc. So, zero in on the specific products and customers you plan to target and focus your analysis on those elements.
Customer Analysis
This section of your plan details your bakery’s target audience, that is the customers you will serve. Note that in many cases, a bakery might target multiple market segments. Do you plan to target brides to be? Children’s birthday parties? Upscale families who regularly hold private events for 100 or more guests?
Or do you primarily serve walk-in customers. This segment usually comprises neighborhood resident who know about your bakery, and who tend to visit regularly.
Even if you’re not a commercial bakery, you might serve local delis, grocery stores and bodegas. Clearly, it helps a bakery’s sales if it has a greater number of distribution points. The same is true in the case of restaurants. A bakery can supply breads, bagels, cakes, pastries and other products to restaurants and hence create a larger customer base.
Whatever target markets you serve, clearly define them in your business plan. Detail the demographics of each. For example, are they wealthy males and females? Are they college students? Are they local restaurants? Whatever the target customers, you need to identify and detail them so you’ll know their needs and can better serve them.
Likewise, discuss the psychographics of your target customers. Are they price conscious? Is quality the most important issues they will use to judge your bakery? Do they insist on reliability and premium service?
In addition to documenting the demographic and psychographic variables that define your target market, detail how your bakery will meet their unique needs.
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Competitive Analysis
This section of your bakery business plan details your direct and indirect competitors. Direct competitors are other companies who fulfill the same need for the same target market, most likely others selling similar baked goods. Your indirect competitors are those who fulfill a different need for the same target market, or those who fulfill the same need for a different target market. An example of an indirect competitor could be a nearby coffee shop.
In your plan, name and describe your direct competitors individually, and explain what sets your bakery apart from them. Create a more general category for your indirect competitors and discuss them as a whole.
Finally, detail your areas of competitive advantage and what will make you distinct. Most successful bakery owners identify products that no other local bakeries offer, such as a treat that is exclusive to your bakery and that drive customers to frequent your store. Also, based on the demographics and psychographics discussed above, you may be successful being the only local bakery selling nut-free cakes, or making vegan and gluten-free baked goods with local and organic ingredients.
Marketing Plan
Your bakery marketing plan explains how you will penetrate your target market, based on the four P’s: Product, Price, Place, and Promotion.
The Product section explains all the products and services your bakery will provide. Price refers to the price points at which you will sell each item, along with your reasoning for choosing those prices. Place explains all your distribution methods, such as your retail stores, your company website, and third-party retailers. Promotion defines the ways you will entice customers to purchase your baked goods, such as free samples and web advertising.
In addition to describing the four Ps your bakery marketing strategy, you should explain how you will retain existing customers through loyalty programs or other methods. Also, in this section of your plan, particularly if you are startup retail bakery, you should detail the design and display of your location.
Clearly, your bakery’s storefront should be designed in a way that attracts walk-in customers. Consult an interior designer to get insight on how to create a warm and inviting ambience in your bakery.
Operations Plan
The operations plan explains the processes by which you will turn your vision into a reality. It includes the everyday short-term processes involved in physically baking your products, managing your retail space, packaging your baked goods, conducting sales transactions, choosing and working with vendors, and delivering the finished products to your customers among others.
Your operations plan must also include the long-term processes involved in growing your company, such as introducing new products or retail stores, achieving specific sales milestones, and hitting other important business-oriented goals such as hiring new employees, launching new locations, etc.
Management Team
This section provides biographies of the key members of your company’s management team, with an emphasis on strong business skills. Focus on educational background, previous experience with successful start-ups, and other elements that demonstrate your and/or your team’s ability to build a company. A strong advisory board can help make up for weaknesses provided you clearly articulate how your advisors will directly impact the company’s growth.
Financial Plan
The financial plan is often the most difficult part of the business plan to write, yet it is the section that potential investors and lenders spend the most time analyzing.
Provide a list of all revenue streams, including their relative importance and timeline for implementation, as well as the amount and expected sources of outside funding. Include a summary of past (if applicable) and projected Income Statements, Balance Sheets, and Cash Flow Statements. The assumptions made in these documents must be reasonable and verifiable based on an analysis of similar companies.
Make sure you don’t miss anything when putting together your financial projections or you could lose credibility in the eyes of readers of your plan. For example, make sure you adequately enter costs which most bakeries incur such as space (owned or rented), equipment (planetary mixers, cylinders, gas stove, cooling fridge, deep fridge, storage utensils, etc.), electricity and water, staff, furniture and décor, licenses, insurance and legal fees.
The appendix includes your full financial projections, as well as any other documentation that supports the claims made in the business plan. For example, it might include a list of key existing customers or letters from potential partners. Likewise, if you’re a startup bakery, including sketches of the proposed store design should appear in your appendix.
Putting together a business plan for your bakery business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the bakery business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful bakery business.
To further help you, we have other articles on key aspects of how to start your bakery . and running it effectively. Specifically, our bakery marketing plan will help you develop the best promotions strategy. Our bakery startup costs post will let you know what costs to expect.
Bakery Business Plan FAQs
What is the easiest way to complete my bakery business plan.
![baking supplies business plan bakery business plan template](https://businessplantemplate.growthink.com/wp-content/uploads/sites/5/2018/10/Bakery-1.jpg)
Where Can I Download a Bakery Business Plan PDF?
You can download our bakery business plan template PDF here.
Our bakery business plan PDF is a free resource to help you get started on your own business plan. This is a business plan template you can use in PDF format for a bakery, home bakery, wholesale bakery or any other type of bakery.
What Is a Bakery Business Plan?
![baking supplies business plan bakery business plan template](https://businessplantemplate.growthink.com/wp-content/uploads/sites/5/2018/10/BakeryPages-1.jpg)
Why Do You Need a Business Plan?
If you’re looking to start a bakery or grow your existing bakery you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your bakery in order to improve your chances of success. Your bakery business plan is a living document that should be updated annually as your business grows and changes.
What Are the Sources of Funding for a Bakery?
Bakeries are usually funded through small business loans, personal savings, credit card financing and/or angel investors. This is true for a home bakery business plan too. This is true for a wholesale bakery business plan, a home bakery business plan and a commercial bakery.
Don’t you wish there was a faster, easier way to finish your Bakery business plan?
OR, Let Us Develop Your Plan For You
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.
Click here to see how our professional business plan consultants can create your business plan for you.
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How To Write A Bakery Business Plan
By Shannon Mulligan
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Looking to open up your very own bakery? It’s probably safe to say that you’d rather spend your days perfecting your chocolate chip cookie recipe than figuring out how to write a bakery business plan.
But do you really need one? Why is a business plan important? And how do you write one?
Here’s the thing: a bakery business plan is the first step to turning your business into a reality.
So keep reading as we cover everything you need to know about writing a bakery business plan. Let’s get cooking!
What is a business plan for a bakery?
A bakery business plan is a strategic document that covers your business goals and the steps you’ll take to get there.
Think of a business plan as your recipe for running a successful bakery. It covers everything from what type of bakery you’re going to have and what baked goods you’re going to serve to how you’re going to pay for your commercial ovens.
The importance of a bakery business plan
A bakery business plan isn’t just icing on the cake of your business venture. Business plans are so important that over 70% of businesses already have a business plan. (And those that don’t know they probably should.)
While it certainly takes a bit of effort to put together, having a solid business plan can go a long way in bringing your vision to life and leading you to bakery success.
Not convinced yet? Here few reasons why a business plan is important for your bakery:
- A business plan acts as a road map to help you reach your bakery goals : Maybe you have a dream of owning your own bakery franchise. Or perhaps you have a financial goal for your bakery. A business plan helps you set ambitious but realistic goals and outlines the steps you need to get there.
- A business plan helps you make better business decisions: As a business owner, you’re in charge of making a lot of decisions every day—from who to hire to when to add a new item to your bakery menu. A business plan helps you stay focused and make decisions that will keep you on the track to success.
- A business plan helps you land suppliers and investors: Vendors and suppliers often want to know who they’re dealing with before they agree to work with you. A business plan shows them who you are and how they’ll play a role in your bakery business. The same goes for investors and financial institutions. If you need funding or a loan , a business plan shows that you’ve done your research and have a solid plan in place.
- A business plan keeps you profitable: Most of us don’t love money math, but a business plan puts your financials front and center. It outlines your costs, expenses, and revenue before you even open your doors, which can help you grow your business while staying profitable.
How to write a bakery business plan in 7 steps
Writing a business plan for your bakery might seem more complicated than baking the perfect croissant.
But we’ll let you in on a secret: it’s easier than you might think. And we’re making it even simpler with a step-by-step breakdown to help you rise to the occasion.
1. Executive summary
If someone didn’t read the rest of your business plan, what would they need to know about your bakery?
Your executive summary is an overview of your bakery business and everything else you’ve outlined in your business plan. It’s important to highlight the key takeaways, so the reader knows what to expect from reading your business plan.
2. Company overview and description
Who are you? Why do you want to open a bakery? What are your business goals?
The company overview is where you should introduce yourself and the story behind your bakery business. The goal is to tell a story about how your bakery idea came to be and where you see your bakery in the future.
For example, you may want to share your credentials and experience as a baker. Or maybe your bakery is a unique experience because it focuses on cultural recipes. These are all details you’ll want to describe for the reader in the company overview section of your business plan.
3. Market analysis
What makes your bakery unique? Are there competitors? Is there a market for your bakery?
This next section of your business plan is a market analysis that highlights your position in the market. Every bakery is unique, so how does yours stack up?
You’ll want to include research around:
- Competing bakeries or businesses in your local market
- Successful bakeries that have a similar business model
- Your target market
This tells you and your reader how your bakery will stand out from the crowd.
4. Bakery business offerings
What’s on your bakery menu? Will you offer custom baked goods? What additional products will you offer?
Some bakeries specialize in cakes while others only offer gourmet donuts. This section of your business plan should give your reader a good understanding of what your specific bakery will offer. If you’re going to offer any services, such as baking classes, you’ll want to include those here as well.
5. Bakery management and operations
Where will you get your ingredients from? Will you hire employees? What will your hours be?
Every business has their own way of doing things behind the scenes and your bakery is no exception. While you might have similar management styles and operations compared to other bakeries, it will be completely different than a coffee shop or salon.
From ordering supplies to actually baking your products, take the time to think about and outline how you’ll manage your bakery’s day-to-day operations.
6. Marketing and public relations strategies
Let’s face it—delicious baked goods basically sell themselves. But you still need a marketing and public relations (PR) strategy to help get the word out.
Some common marketing strategies for small businesses might include:
- Social media marketing
- Email marketing
- Building a website
- Pitching local news outlets for PR hits
Remember: Marketing doesn’t have to be expensive. There are many free marketing tools for small businesses like your bakery.
7. Financial projections
Last but not least, it’s time to crunch those numbers.
Your financial projections are an estimate of the costs, revenue, and profits for your business. For example, this might include the cost of supplies, your labor costs , and leasing a physical location. If you’re a brand new business, you should also include any startup costs that you’ll incur before you can open for business.
Typically financial projections include short and long-term forecasts to help you make sure that your business will turn profitable within a reasonable amount of time.
The #1 ingredient to every successful bakery
Once your business plan is written, it’s time to fire up the oven and get baking—and Homebase can help.
Homebase’s all-in-one employee management app is designed with small businesses in mind with features baked in to help you:
- Hire and onboard top-tier employees.
- Schedule your team based on your bakery needs
- Track employee hours to manage your labor costs
- Run payroll in just a few clicks.
Bakery business plan FAQs
Why is a bakery business plan necessary.
A bakery business plan is necessary for several reasons:
- It helps you prioritize and keep your bakery business on track.
- It improves your decision-making.
- It helps you secure financing or investments to scale and grow your business.
What do you do with a bakery business plan once you’ve written it?
Once you’ve written your bakery business plan, it’s time to put your plan into action. The last thing you want to do is write it and forget it. It can also be helpful to have trusted advisors, such as mentors, experienced business owners, or even your financial advisors review your business plan. A second set of eyes can go a long way in making sure you have the best plan in place for your business.
Do you need a business plan if you’re not looking for financing?
Yes, you need a business even if you’re not looking for financing or loans. Writing a business plan isn’t just something to check off your loan application list. It’s a tool you can use to grow and manage your business and help you reach your goals.
What tools can help you run your bakery business when you’re done writing your business plan?
Some tools to help you run your bakery business when you’re done writing your business plan include:
- An employee management app to schedule, track, and pay your employees.
- A point of sale (POS) system to take orders and take payments.
- A website to help you market and sell your bakery items.
Remember: This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.
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Home > Business > Business Startup
Flour Power: How to Start a Bakery from Scratch in 11 Steps
![baking supplies business plan Rachel Christian](https://www.business.org/app/uploads/2023/03/rachel-christian.webp)
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If you love to bake, starting your own bakery may sound like a dream come true. But what does it really take to turn your passion into a profitable business?
Before you break out the dough and sprinkles, there are several steps you need to take to ensure your bakery's success.
We'll break down how to start a bakery, from creating a business plan to obtaining permits and marketing your business.
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How to start a bakery business in 11 steps
Whether it's a small operation in a home kitchen or a large storefront with multiple employees, there’s a lot of work that goes into launching a successful bakery.
Here’s what you need to know.
1. Choose a bakery business type
One of the first decisions you’ll need to make is the type of bakery business you want to operate.
Here are some of the most common types of retail bakeries.
Counter service bakery
This type of bakery is small and efficient. Most counter-style bakeries don’t have a dining space. Instead, customers browse baked goods in the display case and order what they want from the counter.
Bakery cafe
Bakery cafes combine counter-service with a dining area where your customers can sit and enjoy their food. You can offer drinks, like tea and coffee, to pair with your baked goods.
Specialty bakery
A specialty bakery focuses on a specific type of baked goods, such as bagels, cupcakes, artisan breads or wedding cakes. While you can offer other items, most of your business will come from a specific niche.
Food truck bakeries have exploded in popularity in recent years - and for good reason. Making your bakery mobile can help you reach customers in different locations, such as fairs, festivals and corporate events.
You’ll likely need to make your baked goods at home or in a commercial kitchen before loading them in your food truck and hitting the road.
Home bakery
If you want to start small, you can cook up a bakery business at home. You can sell your baked goods directly to customers through your website, or at pop-up events and farmers' markets. You can ship your orders or arrange for local pick up and delivery.
Need to build a website? Check out our top picks
Data as of 5/3 /23 . Offers and availability may vary by location and are subject to change. *With annual billing.
2. Create a bakery business plan
Before you can start a bakery, you need to draw up a clear plan for your business.
A business plan outlines your bakery's goals, target market, products, pricing, marketing strategy and financial projections. It serves as a roadmap for your new venture. A business plan is also required if you apply for a business loan.
Here are the basic parts of a bakery business plan.
- Executive summary: This section provides a brief overview of the bakery, including its name, location, products and unique selling proposition.
- Market analysis: Look at your competitors' prices, products and target audience to identify gaps in the market that your bakery can fill.
- Product and services: Describe the baked goods you'll offer and what sets your bakery apart from others in the area. It could be your signature cupcakes, gluten-free options or vegan treats.
- Marketing and sales plan: This section details how you plan to advertise your bakery, grow your sales and reach customers.
- Financial plan and projections: Determine the startup costs, including equipment, rent, ingredients and any employee wages. Then, estimate your bakery's revenue based on your pricing strategy and sales projections. This information will help you determine how much funding you'll need to start your bakery and how long it will take to break even.
For easier financial reporting, try accounting software
Data as of 5/3/23. Offers and availability may vary by location and are subject to change. *Only available for businesses with an annual revenue beneath $50K USD **Current offer: 50% off for 3 mos. or 30-day free trial †Current offer: 50% off for three months or 30-day free trial ‡Current offer: 75% off for 3 mos. Available for new customers only
3. Pick a business entity
Next, you’ll need to choose a legal structure for your bakery business. There are several options, and some are more complicated than others.
- Sole proprietorship: This is the simplest and most common structure for small businesses. It makes you the sole owner of your bakery, and gives you complete control over business decisions. However, it also means that you are personally liable for the business' debts and legal issues.
- Partnership: A partnership is owned by two or more people, and each partner is responsible for the business' debts and liabilities.
- Limited liability corporation: An LLC is a hybrid entity that combines the liability protection of a corporation with the tax benefits of a partnership.
- Corporation: A corporation is a separate legal entity that is owned by shareholders, and it provides the most liability protection for owners. It also comes with more paperwork and fees.
The type of business entity you choose will impact your taxes and legal responsibilities — so it’s a big decision. If you’re not sure which entity to choose, consult with a business attorney or financial advisor.
4. Choose a location
Picking the right location for your business is essential.
If you’re opting for a retail bakery with a storefront, your location should be easily accessible and have adequate parking.
The cost of rent, utilities and property taxes must also be considered when choosing a location. A high-end boutique space in downtown might attract more foot traffic, but it will come with higher overhead costs.
To save money on equipment, look for a location that was recently occupied by another bakery. They may have the large ovens, refrigerators or freezers you need to run your new business.
Enlisting the help of an experienced commercial real estate agent who’s familiar with the community can make your search for a brick-and-mortar location much easier.
Starting a home bakery business is another option. Home bakeries can be a cost-effective way to test the market before expanding to a commercial location.
There are state laws governing home-based food businesses, so it’s important to research and comply with any regulations in your area.
Finally, if you’re opting for a food truck bakery business, look at car dealerships that sell food trucks. You can also check places like Craigslist and Facebook Marketplace to find deals on used food trucks.
5. Secure appropriate permits and licensing
Each state requires its own permits and licensing to operate a food business. You’ll need to research the rules and regulations in your specific state, county and city to ensure you're in compliance.
Google “retail kitchen laws for (name of state)” to find regulations for your area. Then outline all the paperwork you’ll need to complete, making note of deadlines and fees.
Get this process started early. It can take weeks or even months to get all the paperwork processed.
Some common permits and licenses you may need include:
- Food handler’s license
- Catering license
- Health and safety inspection
- Sales license
- Zoning permits
To get your licenses and permits, you’ll need to fill out applications and provide documentation, such as proof of insurance, a business plan, or a lease or rental agreement for your bakery space.
You may also need to pass inspections from the health department and the fire department.
6. Prepare for taxes
As a business owner, you’ll need to pay a host of new taxes, including federal taxes, sales taxes and payroll taxes .
Consulting with an accountant is a smart move. A tax professional can advise you on how to structure your business to minimize your tax bill, as well as help you prepare and file your tax returns.
Make sure to keep accurate records of your income and expenses, as well as any tax payments you make. You’ll need this documentation if you get audited or fail to pay your taxes on time.
You’ll also need an employer identification number (EIN) , a unique identifier assigned by the Internal Revenue Service. It’s required for all types of business entities, except for sole proprietorships that don't have employees.
To obtain an EIN, you must apply online through the IRS website . It’s free to apply and the EIN is usually issued immediately.
Best small business tax software
Data as of 1/11/23. Offers and availability may vary by location and are subject to change.
Pro tip: Taxes can be complicated. Here’s everything you need to know about how to file small business taxes .
7. Open a business account
You may be required by law to open a separate business bank account for tax purposes, depending on which state you live in. Many banks and credit unions offer business checking and savings accounts .
Separating your personal and business finances also makes it easier to track where your money is going.
You may want to consider opening a small business credit card , too. A business credit card can help you separate your personal and business expenses while also earning cash back and rewards.
Top banks for small businesses
Data effective 4/20/23. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.
Pro tip: Need to pay for start-up costs? Here are the best high-limit business credit cards .
8. Secure business funding
It can cost anywhere from $10,000 to $50,000 to start a bakery, according to Entrepreneur .
That’s a lot of money. New business owners will likely need to secure some funding from outside sources to get up and running.
Here are a few ways to fund your small business. Keep in mind that a lending marketplace or fintech company, like Nav , may offer a few of these options.
Business line of credit
A business line of credit works similarly to a credit card, where the borrower is approved for a maximum amount of credit that they can draw upon as needed.
Interest rates for business lines of credit are typically higher than those for commercial loans, but they can be a good option for businesses that need quick access to cash.
Pro tip: Want to explore your options? Here are the best business lines of credit for small businesses.
Small business microloans
The Small Business Administration (SBA) offers microloans worth up to $50,000 to help small businesses start and expand. These loans are offered through intermediary lenders . They generally require some kind of collateral and cannot be used to pay existing debts or to purchase real estate.
Traditional commercial loans
These loans — which are available at banks and other financial institutions — typically have strict eligibility requirements. The approval process can be lengthy and time-consuming. Commercial loans often require collateral, such as a home or car. You also usually need a high credit score and a history of successful business operations to get approved.
Crowdfunding
Crowdfunding platforms like Kickstarter let you showcase your business idea and solicit donations from people who are interested in supporting your venture. You can’t rely on crowdfunding sites for on-going expenses, but it’s one way to raise startup capital.
Once you've got your finances in order, you can start purchasing equipment and marketing your bakery.
Pro tip: About 75% of small businesses get turned down for loans by big banks. Here’s a list of the best alternative business loans from online lenders.
9. Develop your menu
Figuring out what to sell, how to price things and arranging everything on a page is no small task.
First, write down all your ideas and potential baked goods before organizing them into groups based on ingredients and equipment.
- Identify your signature items. What do you want to be known for? Spotlight these baked goods on your menu.
- Research trends. Research current trends in baking (anything from organic dog treats to unicorn cakes) and incorporate a few into your menu.
- Price your items. Consider the cost of ingredients, labor and overhead when pricing your items. A standard rule of thumb for pricing is to triple your expenses for the item, then adjust for market pricing.
Before you open, call local vendors to price their products and order supplies. This will help you determine how much to charge for your treats.
10. Purchase bakery equipment and supplies
To turn a baking hobby into a baking business, you’ll need to invest in some industrial equipment and supplies.
This can include ovens, mixers, baking sheets, refrigerators, display cases, and more.
You can purchase new or used bakery equipment, depending on your budget. If money is tight, you might consider leasing your equipment. This gives you access to the equipment you need for a set period of time, though you won’t own it once the lease expires.
Compare the best POS systems plans and pricing
Data as of 3/9/23. Offers and availability may vary by location and are subject to change. *Free trial for the first 14 days
11. Create your bakery’s branding and marketing strategy
Now is the time for your passion to shine. What makes your bakery unique?
You probably already have a name picked out for your bakery. But your brand identity should also include a logo, color scheme, typography and packaging that communicates your bakery’s personality.
If you haven’t done so, you’ll need to create a website and social media accounts for your business. After all, social media marketing is a free and effective way to attract new customers.
It’s best to pick a social media platform that you’re already familiar with when starting out, preferably one where you have a following.
Posting high-quality pictures of your treats is sure to attract attention. (If you need to brush up on your photography skills, there are lots of online videos on how to take professional-looking food photos.)
Make sure to keep your branding and messaging consistent across all marketing channels, including the bakery’s website, social media channels and signage.
Starting a bakery isn’t easy. But if you’ve made it this far — congratulations! With the right plan in place, you’ll be raking in the dough in no time.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer at The Penny Hoarder. She focuses on retirement, small businesses, investing and taxes.
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How to Write a Business Plan for Baking Business
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Published 03.07.2023
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Creating a solid plan is of paramount importance if you're thinking about starting your own home baking business, no matter how big or small. It's like a roadmap that helps you set goals, prepare for challenges, and get the funding you need.
But hey, if you've never made one before, it can feel pretty overwhelming. Don't worry, though! In this article, we will compose a sample of a home baking business plan and guide you through the essential steps of creating it yourself. We aim to give you all the insights and knowledge in a concise manner to understand what this plan is all about!
Baking business plan definition
Just like any other business plan, a baking business-oriented one is a comprehensive document. Regardless of the venture’s size, a home-based bakery business ought to rely on a solid plan. This way, as a business owner, you will be able to track profitability, attract investments and see ways to improve it.
- Details about the business’ products and goods;
- Information on target customers;
- Researched data on competitors and the market;
- A marketing strategy;
- Financial projections.
Apart from these, there are other aspects of a home based bakery business plan to consider. Nonetheless, even those mentioned can form the basis for a reliable plan to grow your business.
The importance of a baking business plan
Mainly, it is created to help the owner or entrepreneur think through all the important aspects of the business, identify potential challenges, and come up with a strategy for success. A well-crafted bakery business plan can also serve as a roadmap for the company's growth and development. It can also be used to secure funding if required. Let’s take a closer look at three main reasons why you shouldn’t overlook it.
Reason 1: it provides clarity and focus
Composing a bakery business plan helps you clarify your goals and objectives, as well as focus your efforts toward achieving them. With a good plan in place, you will have enough room to think critically and strategically in several major areas:
- About the market, you are targeting;
- About the products you are offering;
- About the resources, you need to succeed.
After all, a clear understanding of your baking business's mission and vision can help guide your decisions and actions. Not to mention how helpful it is in ensuring that you stay on track toward achieving your goals.
Reason 2: it identifies potential challenges and solutions
Starting a bakery business plan helps you identify potential obstacles that you may face so that you can minimize any surprises down the track.
The plan allows you to anticipate problems even before they arise and develop strategies for dealing with them.
Overall, identifying future challenges and solutions can help you in several ways.
- Improve customer satisfaction. Proactively addressing issues before they become problems is highly appreciated by the users. For example, your business plan may include predictions of customer complaints or reactions related to long wait times during peak hours. Hence, it creates room for you to develop an improvement plan for staffing or queue management. By doing so, you can improve the overall customer experience and boost loyalty.
- Minimize risks. Facing potential challenges and working on how to resolve them, you can greatly minimize the risks associated with running a bakery business. For example, a detailed plan can help you identify a potential shortage of certain ingredients and help to secure alternative sources or adjust your menu. By doing so, you can avoid the negative impact that a sudden disruption in your supply chain might have on your business.
- Reduce costs. Developing solutions to potential challenges can also help you reduce costs associated with running your bakery business. For example, you may identify an opportunity to reduce waste and save money by adjusting your inventory management system. By doing so, you can lower your operating expenses and increase your profitability.
Reason 3: it attracts funding
The financial aspect is another pillar in every business’s foundation. A well-written and detailed bakery business plan can be a powerful tool for attracting funding from investors or lenders. Why? Because it demonstrates
- That you have done your research,
- That you have a clear understanding of your market and competition,
- That you have a solid plan for achieving your goals with outlined objectives.
On the contrary, it would be difficult to attract any investment if your business is experimental, and it
- Looks unreliable and doesn’t present something new to the industry,
- Has no clear plan for growth and expansion,
- May not stand the test of time,
- Has too many open issues.
Lastly, learning how to write a home-based bakery business plan sample can also help you estimate the amount of funding you will need. With its help, you can figure out the minimum you need to start the business, an optimal amount to support and run it, etc.
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Now, let’s shift our focus to the essential steps you need to take to create a reliable and cohesive business plan. For even more convenience, we’ll organise them in points and tables.
Steps to Create a Baking Business Plan
Now that we walked through the importance of the business plan, let’s take a look at the steps to create it. We’ll carefully review each of them and see how they correlate to the entire home based bakery business plan template.
Executive Summary
This step is the very beginning of the documentation to start a baking business plan. It should be first in the list but written last once you complete all the next parts, just like the contents of a book.
The purpose of the executive summary is to provide a concise overview of your plan. It highlights the most important information about your business. It consists of the steps we’ll review next.
Business Description
This part of the plan provides a detailed description of your bakery business. Normally, it includes numerous parts. Here are the main ones.
Products and services
In a home based bakery business plan sample, you describe in detail the goods and other products or services you will offer to customers. Let’s take a closer look at the most important aspects of your offering.
Menu/Product List
Obviously, you need to provide a detailed list of the products you plan to offer, including cakes, cupcakes, cookies, pastries, tarts, and any other baked goods. You should include descriptions of each product and flavor variations, including ingredients, portion sizes, weight, and pricing.
Describe the packaging you will use for your baked goods. It includes any branding or labeling. You should also include information about the materials you will use, such as paper or plastic, along with any environmental considerations.
Special Orders
Describe any special order services you will offer, such as occasion-related customized cakes, cookies, or catering. Make sure to include details about the ordering process, pricing, delivery, and lead times.
Other Services
This section is dedicated to additional things you plan to offer. It may include baking workshops, cooking classes, recipe books, delivery services, etc. Include all relevant details: scheduling, pricing, and any special equipment or supplies required.
When describing your products and services, it's important to be as specific as possible so customers will rarely have additional questions. Use descriptive language to help the reader imagine the taste, texture, and appearance of your baked goods. You should also consider the preferences of your target market and ensure that your products and services meet their needs and expectations.
Market Analysis
Each home based bakery business plan template has to include a space for market analysis. Conducting a deep market analysis can help you solve many upcoming issues in the future. Here is what a good analysis includes.
Customer Analysis
Despite being mentioned in previous steps, customer analysis deserves a separate paragraph as it’s an important aspect of the plan. While analysing your potential clients, pay attention to the following details:
- Demographics. To understand users’ needs, you need to turn to their demographics: average income, age, location, etc. This information will help you tailor your products, services, and marketing strategies to their specific needs and preferences.
- Preferences and needs. After analyzing the market, you may start seeing patterns. For instance, some goods are trending upward while some aren’t popular at all. You can highlight the most popular tastes and textures and correlate them to the price.
- Customer Behavior. Studying their buying behavior can reveal lots of useful things. For example, when are peak hours, how often they purchase baked goods, how much they approximately spend, etc.
- Customer Loyalty. Offering exceptional customer service and even promotions around special events can help you build a solid customer base.
Competitors Analysis
Having a clear understanding of your rivals and their position in the market is crucial to driving your own business to success. In this matter, CakerHQ allows you to monitor competitors at a glance. Apart from your listing, there are dozens of others. Hence, you can easily compare your offerings with theirs and outline your advantages and disadvantages for further optimisation.
If you wonder where to start your competitor's analysis, there are several checkpoints. First off, in a sample of a home baking business plan, you should draw a line between direct and indirect competitors.
Direct competitors
This category represents baking businesses that are located in the same area as you. They offer similar products, services, and goods. They could be other small baking businesses, bakeries, and cafes. They must be your primary focus, as they’re likely to convert your customers.
Indirect competitors
This category is called indirect for a reason. It consists of businesses that are slightly different from yours. They may offer different products or target other niches. However, if you find out that your target audience is interested in their offering, you must consider them. Examples of these are supermarkets and bakeries.
After analysing who they are, you will need to shift focus to how they work. You can start by analyzing their strengths and weaknesses and the ways your business is different from theirs.
Realizing competitors’ positives and negatives and differences to your own business and offerings, you can start to build your competitive advantage. In other words, it’s what sets your bakery apart from your competitors. This may include factors such as unique products, high-quality ingredients, or personalized customer service.
Management Plan
The management plan’s mission is to outline all possible processes your business operations consist of. Essentially, it should include:
A management team
Make sure you identify key personnel’s goals and responsibilities in managing your business. This includes their qualifications, salary, experience, etc. If you run your own business, describe your own responsibilities and activities that you delegate or plan to outsource.
Organisational structure
Outline your business structurally, including the roles and responsibilities of each member of the management team. This will help ensure that everyone understands their position and responsibilities within the company.
Personnel plan
Identify the number of employees you plan to hire and their roles and responsibilities. This should include both full-time and part-time employees.
Staff training and development
Outline your plans for staff training to ensure that all employees are adequately trained and equipped to provide high-quality products and services.
Compensation and benefits
Define your compensation and benefits package for your employees. This should include salaries, bonuses, health insurance, retirement plans, and other benefits.
Management policies and procedures
Define your management policies and procedures, including your code of conduct, employment policies, safety policies, and other relevant documentation.
Operation plan
This plan is intended to outline the day-to-day operations baking venture. It typically consists of several aspects.
- Production process. Describes your production processes, including the steps involved in baking, packaging, and storing your products.
- Inventory management. Outlines how you will manage your inventory, including how you will track ingredients, supplies, and finished products. This should also include information about how you will manage waste and spoilage to minimize costs and maximize profitability.
- Quality control. Defines your quality control processes to ensure that your products consistently meet high standards. This may include regular testing, inspections, and employee training.
- Operating procedures. Outlines your hours of operation, staffing requirements, and customer service policies.
- Suppliers and vendors. Contains a detailed description of those who supply ingredients, packaging materials, and other supplies needed to run your business.
Logistics plan
In the business plan for bakery, this section contains details about everything related to the distribution of your products. Traditionally, here are the four most important logistical aspects you should consider.
Transportation
This section outlines how you will transport your products to customers. This may include in-house selling, takeaway or customer collection, or shipping by courier services.
Explain how you will package your products, including the materials used and the design. Your packaging should protect your products and be visually appealing to your customers.
Distribution channels
Define how you will sell your products to customers. This may include selling directly to consumers at your business premises, through online ordering, or through third-party retailers.
Order fulfillment
Outline your order fulfillment process, including how customers will place orders, how you will process and fill those orders, and how you will handle returns or customer complaints.
Marketing plan
To build a thriving business, you need to advertise it regularly and invest in marketing. Accordingly, the marketing plan has a significant place in your cake making business plan. Here’s what it usually consists of.
Value proposition
Your baking business' value proposition is all about making it unique compared to your competitors. By crafting a strong value proposition and using effective marketing strategies, you can easily communicate your unique qualities right to your target audience.
Branding and messaging
Putting effort into your business’ name, tagline, logo, and key messages can make a gigantic impact on attracting customers both online and in person. It helps you to build a recognizable brand and ensures consistent communication across all your marketing platforms.
Marketing channels
You can think of setting up social media accounts on the most popular platforms like Instagram or Facebook to showcase your delicious treats. Sending out weekly newsletters through email marketing is another great way to reach your customers. By the way, hundreds of customers are searching for you on CakerHQ!
Promotions and advertising
Make sure you think about the exciting promotions and advertising tactics you’ll use to boost your sales. You can try offering discounts, coupons, and loyalty programs to entice your customers. It’s also important to include how you’ll measure the success of your marketing efforts. You must create a clear understanding of what works best for your business and what needs improvements.
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Financial plan
Lastly, the finishing part of your plan is financial management. It may look quite overwhelming, but we will break it down into several manageable steps.
Revenue projections
Estimate your revenue for the first year. Break it down by product or service, and be sure to base your projections on realistic assumptions. Consider factors like seasonality, overall competition, and market trends to get a clear picture.
The cost of goods sold
The COGS metric is commonly used in business finance. It includes the initial inventory and purchases during a specific period minus the amount at the end of that period. You'll also consider the costs of ingredients, labor, packaging, and other production-related expenses.
Operating expenses
Having a clear vision of your operating expenses is essential. These include things like rent, utilities, marketing, insurance, and other overhead costs. Estimate these expenses for the first year and break them down on a monthly or quarterly basis.
It’s important to set your prices to reflect your hard work, experience, and costs associated with your delicious bakes.
Profit and loss statement
The profit/loss statement is a valuable metric that displays your revenue, COGS, and operating expenses. It helps you calculate your net profit or loss for each month or quarter. This statement will be quite handy in predicting your business growth in the long run.
Break-even analysis
This analysis is crucial to ensure you stay afloat in the market. It helps you determine the minimum amount of revenue you need to generate in order to cover your costs, break even, and start earning profits. It's a vital analysis to keep your business afloat.
In conclusion, we hope we have provided detailed insight into the bakery business plan composition. It is an essential step in starting and growing a successful venture, no matter how big or small you start out, and it can be helpful in numerous ways.
It provides a roadmap for your business's future and helps you make informed decisions about marketing, operations, and investment.
By following the steps outlined in this article, you can create a comprehensive home baking business plan that sets you up for success in the competitive yet highly rewarding baking industry. Remember to regularly review and update your plan as your business evolves to ensure that you stay on track and achieve your goals.
Lastly, feel free to join our thriving community of baking business owners. Not only do we provide a reliable platform for your growth, but also simplify all the administration processes, including bookings, order placing, payments, communication with clients, marketing, and more.
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Frequently Asked Questions
We are here to help you with most frequently questions.
How much time does starting a bakery business plan take?
Writing a comprehensive plan for a baking business can take anywhere from several hours to a few weeks. The time frame depends on factors such as business size, level of detail, and market research. It may be time-consuming, but a thorough plan is crucial for setting up a successful business.
How to make a business plan for a home based baking business?
To create a home based baking business plan, consider local laws and regulations, develop a marketing strategy, and create a financial strategy with revenue projections. Don't forget to include information about your products and target customers, as well as the equipment and staffing needed for operations and financial plan
What should be included in the home cake baking services business plan?
A bakery business plan should include an executive summary, business description, market, customer, and competitor analyses, management, operation, logistics, marketing, and financial plans. The level of detail and length can vary based on the bakery's size and goals.
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Bakery Business Plan PDF Example
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- February 28, 2024
- Business Plan
![baking supplies business plan Business plan template for a bakery](https://sharpsheets.io/wp-content/uploads/2023/01/MOCKUP_MID.png)
Creating a comprehensive business plan is crucial for launching and running a successful bakery. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your therapy bakery’s identity, navigate the competitive market, and secure funding for growth.
This article not only breaks down the critical components of a bakery business plan, but also provides an example of a business plan to help you craft your own.
Whether you’re an experienced entrepreneur or new to the food&beverage industry, this guide, complete with a business plan example, lays the groundwork for turning your bakery concept into reality. Let’s dive in!
Our bakery business plan is designed to encompass all crucial elements required for a thorough strategic approach. It details the bakery’s operations, marketing strategy , market environment, competitors, management team, and financial projections, ensuring a holistic view of the business’s path to success.
- Executive Summary : Offers an overview of your bakery’s business idea, market research , management team, and financial plans.
- Bakery & Location: Describes your bakery’s layout, features, and why its location is perfect for customers.
- Operations: Outlines daily bakery operations, including baking schedules, staffing, and ingredient sourcing.
- Key Stats: Provides figures on the size and growth of the bakery market.
- Key Trends: Points out new trends in the bakery industry, such as the rise in health-conscious and specialty products.
- Key Competitors : Discusses major nearby bakeries and how your bakery offers something different.
- SWOT: Analyzes strengths, weaknesses, opportunities, and threats related to your bakery.
- Marketing Plan : Outlines methods for promoting your bakery and keeping customers coming back.
- Timeline : Lists important goals and milestones from the beginning through the first year.
- Management: Shares info on who runs the bakery and their responsibilities.
- Financial Plan: Forecasts the bakery’s financial outlook over 5 years, including income, profit margins, and main expenses.
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Bakery Business Plan
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Executive Summary
The Executive Summary introduces your bakery’s business plan, offering a concise overview of your bakery and its offerings. It should detail your market positioning, the range of baked goods and confectionery items you offer, its location, size, and an outline of day-to-day operations.
This section should also explore how your bakery will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your bakery’s unique selling points that differentiate it from these competitors. These could include special dietary options like gluten-free or vegan products, artisanal or locally sourced ingredients, or a particular specialty in certain types of baked goods.
Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the bakery’s success. This could involve their culinary expertise, business management experience, or community relations. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your bakery’s financial plan.
Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan
![baking supplies business plan Bakery Business Plan executive summary1](https://sharpsheets.io/wp-content/uploads/2024/02/Business-Plan_Bakery-Executive-summary-1-1024x576.png)
Dive deeper into Executive Summary
Business Overview
For a Bakery, the Business Overview section can be concisely divided into 2 main slides:
Bakery & Location
Briefly describe the bakery’s physical environment, emphasizing its design, warmth, and the inviting atmosphere that welcomes customers. Mention the bakery’s location, highlighting its accessibility and the convenience it offers to customers, such as proximity to community centers, schools, or ease of parking.
Explain why this location is advantageous in attracting your target clientele, which might include local residents, businesses looking for catering options, or foot traffic from nearby shopping areas.
Detail the range of baked goods and products offered, from bread and pastries to custom cakes and specialty items. Outline your operational strategy, including sourcing of ingredients, baking schedules to ensure freshness, and any unique services such as custom orders or catering.
Discuss your pricing strategy , ensuring it reflects the quality of ingredients and craftsmanship involved and matches the market you’re targeting. Highlight any special offerings, loyalty programs, or community events that provide added value to your customers, encouraging repeat visits and customer loyalty.
Make sure to cover here _ Bakery & Location _ Operations
![baking supplies business plan Business Plan_Bakery location](https://sharpsheets.io/wp-content/uploads/2024/02/Business-Plan_Bakery-locatio-1024x576.jpg)
Market Overview
Industry size & growth.
In the Market Overview of your bakery business plan, begin by assessing the size of the bakery industry and its potential for growth. This evaluation is essential for grasping the market’s extent and pinpointing opportunities for expansion.
Analyze factors such as the increasing demand for baked goods, both traditional and innovative, and how consumer preferences are shaping the industry.
Key market trends
Continue by discussing recent market trends that are influencing consumer behavior and preferences in the bakery sector. This might include a growing interest in artisanal and craft baked products, the surge in popularity of gluten-free and vegan options, and the integration of international flavors and ingredients into traditional bakery products.
Highlight the demand for high-quality, fresh, and specialty baked goods that cater to diverse dietary needs and cultural tastes, as well as the trend towards more health-conscious and sustainable baking practices.
Key competitors
Next, examine the competitive landscape, which encompasses a variety of bakeries from luxury patisseries to affordable local bakeries, as well as the rise of home baking and online bakery businesses.
Focus on what sets your bakery apart, whether it’s through unparalleled customer service, a distinctive selection of baked goods, or expertise in a particular baking style or dietary niche.
Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends
![baking supplies business plan Bakery Business Plan market overview](https://sharpsheets.io/wp-content/uploads/2024/02/Business-Plan_Bakery-Market-overview-1024x576.png)
Dive deeper into Key competitors
First, conduct a SWOT analysis for the bakery , highlighting Strengths (such as artisanal baking skills and a unique range of products), Weaknesses (including potentially high ingredient costs or stiff competition), Opportunities (for example, a growing interest in specialty and health-conscious baked goods), and Threats (such as fluctuations in raw material prices or changes in consumer spending due to economic conditions).
Marketing Plan
Next, formulate a marketing plan that details strategies for attracting and retaining customers through targeted advertising, seasonal promotions, a compelling social media presence, and engagement with the local community. Consider loyalty programs, baking workshops, and collaborations with local businesses as part of your promotional activities.
Finally, establish a detailed timeline that marks key milestones for the bakery’s launch, marketing initiatives, customer base development, and potential expansion goals. This timeline should guide the business towards achieving its objectives with precision and clarity, ensuring systematic progress in a competitive market.
Make sure to cover here _ SWOT _ Marketing Plan _ Timeline
![baking supplies business plan Bakery Business Plan strategy](https://sharpsheets.io/wp-content/uploads/2024/02/Business-Plan_Bakery-Stategy-1024x576.png)
Dive deeper into SWOT
Dive deeper into Marketing Plan
The Management section focuses on the bakery’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the bakery towards its financial and operational goals.
For your bakery business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.
![baking supplies business plan Bakery Business Plan management1](https://sharpsheets.io/wp-content/uploads/2024/02/Business-Plan_Bakery-Management-1024x576.png)
Financial Plan
The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your bakery’s approach to securing funding, managing cash flow, and achieving breakeven.
This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.
For your bakery business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).
Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds
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Get the most out of your business plan example
Follow these tips to quickly develop a working business plan from this sample.
1. Don't worry about finding an exact match
We have over 550 sample business plan templates . So, make sure the plan is a close match, but don't get hung up on the details.
Your business is unique and will differ from any example or template you come across. So, use this example as a starting point and customize it to your needs.
2. Remember it's just an example
Our sample business plans are examples of what one business owner did. That doesn't make them perfect or require you to cram your business idea to fit the plan structure.
Use the information, financials, and formatting for inspiration. It will speed up and guide the plan writing process.
3. Know why you're writing a business plan
To create a plan that fits your needs , you need to know what you intend to do with it.
Are you planning to use your plan to apply for a loan or pitch to investors? Then it's worth following the format from your chosen sample plan to ensure you cover all necessary information.
But, if you don't plan to share your plan with anyone outside of your business—you likely don't need everything.
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A bakery business isn’t that difficult to start but it comes with a lot of planning. You can’t just release all your baked goods overnight without carefully planning how you’re going to market and sell it. You will need to figure out your menu, where to get your supplies, the costing for each of your baked goods, and how to package them. You will have to jot everything down, lay the groundwork for all your needs, and set goals to meet them.
If your love and passion for baking have made you decide to put up a bakery, then you’re in the right place to figure out how to start on one. As with all other businesses out there, you will need a business plan and we’re here to help you how to make one.
Page Contents
Why Do You Need A Business Plan?
Executive summary, introduction, company description, customer focus, mission statement, company concept, market analysis, target market, industry analysis, competitive analysis, management structure, product line and services, sales and marketing, financial plan, funding request, financial forecast, operational plan, download templates.
![baking supplies business plan](https://foodtruckempire.com/wp-content/uploads/bakery-interior.png)
Do you need a business plan for a bakery?
A business plan is a guideline to help you figure out what direction your business is heading and what goals you want to achieve. It’s also a great plan to present to banks if you’re looking for a loan and for potential business partners if you’re looking for investors. But most of all, you need a business plan to help yourself. It will serve as your guide on how to achieve your goals and even compute your possible profit.
By the end of this guide, you’ll be able to draft up your business plan or you can use the template we’ll provide that’s available to download below.
Start your bakery business plan with an executive summary section. This section is all about providing brief information on your business without getting all the details in. The goal of this section is to get the whole picture of what your bakery is all about at a single glance.
Just 2 to 3 sentences per category should be enough to express your ideas. You’ll get the chance to explain everything specifically in the later part of the business plan.
Imagine having a booth at a food fair with dozens of other businesses right next to you. What are the things you can put on your sign that when a customer passes by they’ll be able to figure out what you’re selling in just a couple of seconds?
That is what you are going to write in your introduction. You are going to supply information that’s eye-catching, attention-grabbing, but also sticking to the realness of your bakery.
Related Reading: The 6-Step Marketing Growth Plan for a Home-Based Bakery
Here’s an introduction example you can follow:
Quick Bites is a bakery that offers a new take on the bread scene for New Yorkers on the go. All the buns are stuffed with delicious filling, both savory and sweet to satisfy a hungry tummy in need of that quick snack that’s conveniently packaged to eat on the run.
Just by reading that example, you’ll know that Quick Bites is:
- A bakery that supplies buns with filling that is either savory or sweet.
- Located in New York.
- Catered for people looking for a quick snack.
Capture your reader’s attention by keeping things light yet informative in this part of the business plan.
![baking supplies business plan](https://foodtruckempire.com/wp-content/uploads/home-based-bakery.png)
Write a company description.
Every bakery business has a background. You’ll want to include how many years in the making has your bakery idea been going around and who is in charge of it. Will it be a partnership? Will you be doing the baking and managing at the same time? Putting in a little bit of your bakery’s background helps give the reader a brief understanding of what your business’s managing strategy is going to be.
The first thing on your mind when you decided on putting up a bakery is probably the menu. And though that’s quite exciting to draft up at once, you’ll have to decide on the services you’re going to offer first by figuring out what kind of bakery you’re going for.
Here is a guide to choose the type of bakery you want:
- Full service – This includes having your own space with a kitchen and baking area, a display area for your baked goods, and dine-in options with drinks such as coffee or tea.
- Take-out service – This is a type of bakery where you have a small space just to display your baked items and offer a drink or two. Customers can just line up and order your buns to go.
- Online – This type of business does not require any space. This is all done in your kitchen at home. Customers will just place their orders online and will pick them up or have them delivered.
By deciding this early on, you can have a clear image of what your bakery is going to look like and how it will operate.
![baking supplies business plan](https://foodtruckempire.com/wp-content/uploads/bakery-display-case.png)
Cake bakery display case.
We know what you’re thinking: everyone is your potential customer. And though that is the goal, you still need to list down your target customers so you can focus on a certain product line to sell.
Take for example Quick Bites. As mentioned in the introduction, the bakery is for those who are looking for a quick snack to eat. Therefore, their target customers are mostly working people who do not have time to sit down for a meal and are looking for a convenient yet delicious food replacement while still having the time to work.
Related Reading: 101 Creative Bakery Names You Can Use Right Now
With this focus in mind, Quick Bites’ product line of filled buns fit this category since busy people can eat their buns with one hand only so they can focus on doing other things instead.
Again, be sure to keep this short. You can add in the details later on in the Target Market section of the business plan.
Every business has a vision no matter how small it is. If you just plan to have a simple bakery up and running, you still have goals to meet. This is how businesses succeed since a mission statement allows owners and staff to be reminded of the direction they’re heading.
An example mission statement for Quick Bites would go like this:
Quick Bites’ mission is to serve a variety of freshly baked bread, particularly buns with different filling, that can satisfy a hungry tummy on the go. Our buns are nutritious and are packed with only real ingredients. No artificial flavors will be used and no preservatives are added. Our bakery is committed to making quick meals that are convenient to eat while working and we ensure that they are also healthy and affordable.
It’s time to get all the details down for your bakery’s concept. Think of it as the longer and more detailed version of your executive summary. This section is quite easy and fun since you can now list everything you’ve planned your bakery to have.
Will you be serving artisanal bread? How about puff pastries? Will you be including cakes? Will you also be offering coffee and tea? Will you be baking on the premises or will you have a commissary located somewhere? What are your operating hours?
All these things are important so list down everything you can think of that discusses what your bakery’s concept is going to be.
![baking supplies business plan](https://foodtruckempire.com/wp-content/uploads/jennifer-jacobs.png)
Learn more about Jennifer Jacobs.
At this point, you’re probably wondering why you should care about analyzing the baking industry around you when all you want is to just bake your bread and sell them.
Well, let’s put it this way: baking bread might be easy but the selling part may be a little difficult if you don’t know your target market, the bakery business trend in your area, and the competition around you.
Writing down your target market is easy since you already mentioned it above on your Customer Focus section. Just add in more details so you or anyone else who will read this will understand more about which group of people do you cater to.
Include the following in your target market list:
- Working-class or students
- Location (local office workers, neighborhood families, etc.)
To ensure your bakery is going to be a success, analyze the trend surrounding this type of business in the area you’re planning to open this up. For instance, if you’re like Quick Bites whose target market is the working class, then you’ll need to check the area around your planned bakery if this is a place where several offices are located.
You may also include a study on whether or not people like artisanal bread or healthy bread. This can help you check whether your planned menu can sell successfully or not.
For online bakery businesses, you can focus on the factors that people tend to look at when they’re ordering food online. This includes:
- The preferred number of days for pre-orders.
- Delivery times and rates.
![baking supplies business plan](https://foodtruckempire.com/wp-content/uploads/cupcake-3723832_640.jpg)
You’ll have to come to terms with the fact that you’ll have competition once you open your bakery business. That’s not entirely a bad thing. Having competition can help you analyze the prices for your baked items and it would also draw in interest from other potential customers. The trick here is to be better than the rest and that is why you are doing this business plan so you can succeed when you start selling your items.
If you are putting up a physical store, list down the bakeries surrounding your potential location. If you are an online store, you can also compare other online bakeries in your neighborhood.
You may even do a comparison. Write down the top three business names of your competitors, their strengths, and their weaknesses, and see where your bakery stands out.
Knowing the roles each person plays in your bakery business is important. It sets a clear and distinct understanding so that no arguments will happen in the future regarding their duties. This is particularly helpful when you’re in a business with a partnership so there are specific roles and duties indicated per person.
But even if you’re running the business on your own, it’s still important to write it all down so you’re aware of what else you need to do and if you need to delegate some tasks.
Related Reading: Learn how a Culinary Grad Built a $26k/Month Pastry Shop.
You can divide these into the following:
- Management Team – These are the people who will be running the business, those who will be in charge of sales and marketing, bookkeeping, filing and processing of legal documents, research and implementation, and ordering of supplies.
- Bakers – These will include the people in charge of baking your products.
For a bigger bakery with dine-in capacity, you may include these as well:
- Servers – These will include the people who will prepare the food to serve such as reheating bread or assembling them.
- Baristas – If your bakery is serving coffee, these are the people in charge of working the espresso machine.
However, some bakeries have their servers work as baristas at the same time so it’s important to state this clearly so your employees will know their duties.
- Cashiers – These people are in charge of manning the counter for any purchases.
- Clean-up Crew – These will include people who are responsible for cleaning the tables, dishes, and everything else that you need to sanitize your bakery.
![baking supplies business plan cake pops](https://foodtruckempire.com/wp-content/uploads/cake-pops.png)
Cake pops are a favorite at bakeries.
This section is the moment you have been waiting for. This is where you’ll place all the products you are going to offer in your bakery. Be it puff pastries, sandwiches, or artisanal bread, just be sure to write them all down. Be specific and indicate the prices as well.
Aside from your product line, you can include other services you wish to offer. Do you do wedding cakes? How about customized cakes? Would you be willing to supply bread to other businesses? Are you open to catering? Putting this all down in this section will help you organize your thoughts so you can put them into action carefully.
A very helpful way to start marketing your bakery is to combine your target market and product line to bring attention to what you’re selling. For Quick Bites, since their target market is for people on the go, they can push how convenient their buns can be eaten while they’re walking on the street. They can also advertise the many flavors of buns they can offer from sweet fillings such as custard or jam to savory ones such as pepperoni, cheese, or vegetables.
Social media is also a great way to market your business. By putting up nicely photographed images of your bread and knowing the right trending hashtags to use, you can capture a huge number of followers.
But if there’s one marketing plan that’s overlooked by many, it’s taking advantage of the sense of smell. Freshly baked bread is pleasing to the senses and can entice customers to check out what you’re baking. So if you have a physical store, use the delicious smell of your baked bread by letting it waft out into the streets to lure passersby. You’ll be surprised just how fast people will flock to your bakery when you allow the scent of your baked goods to fill them.
![baking supplies business plan](https://foodtruckempire.com/wp-content/uploads/Red-Rose-Cupcakes.jpg)
Red rose cupcakes.
We’re now on to the nitty-gritty part of the business plan. This includes where you’re going to get the money to fund your bakery and forecast the expenses and possible profit you’re going to make. Why is this important? It’s so that you’ll know early on if the concept, product line, and proposed services you’re going to offer in your bakery is profitable or not.
Keep in mind that you don’t really need a lot of money at all if you’re just starting your bakery business. As previous guest on the podcast Jennifer Jacobs explained , she spent the first few years operating a home-based bakery business. Jennifer operated her business for years while holding down a full-time job, before opening the doors to her first retail space. This is the path she recommends for other food entrepreneurs too.
The only thing you need to focus on this section is to ask yourself, where are you going to get the money to start your bakery? Whether it is a small online business wherein you’re the only one who will be doing the baking and selling, or it’s a big bakery with dine-in options and lots of staff, you have to be clear where to get the capital for all of this.
Getting a loan from the bank or inviting investors are a few options you can choose. This is also the reason why you’re making this business plan to convince them to give you a loan or to join in funding your bakery.
![baking supplies business plan](https://foodtruckempire.com/wp-content/uploads/Hey-Cupcake.jpg)
Bakery Food Truck.
You will need to list down all your planned expenses for your bakery. For a simple online bakery business, this includes:
- Refrigerator
- Packaging Materials
- Ingredients (flour, sugar, salt, butter, etc.)
If you are planning to open a physical store with dine-in options, you’ll also have to include these:
- Store signage
- Bread display rack
- Point-of-sale system
- Chairs and tables
- Trays, plates, and cutlery
- Espresso machine
You’ll also need to spend on your advertising materials whether these are in social media or print. The bottom line is, listing down all your proposed expenses can help you forecast the amount of money you need to start your bakery. According to professional bakers we interviewed for this piece, starting up a bakery costs $100,000 and $750,000. With these numbers, you can then set up a budget and start looking around for affordable equipment for your bakery.
Aside from your expenses, you’ll also need to do a break-even analysis so you know if you’ll be able to receive any profit from your proposed product line and services.
Attention Bakery Founders: Download our Food Business Startup Kit for Startup Templates
Writing all your plans down is one thing but to set up a timeline for your operations is another. This sets the gears in motion for when you plan to execute your business.
Do a simple timeline following this example:
Date Plan [Insert Date Here] – Finalize the design and layout of the bakery and secure all rental documents such as permits and business registration.[Insert Date Here] – Start construction.[Insert Date Here] – Hiring and training of staff. You may also start advertising your bakery’s products and opening date.[Insert Date Here] – Start operations for the bakery.[Insert Date Here] – Achieve goals and reach break-even.
This is an example of a physical bakery store. For online bakeries, your timeline should be shorter and simpler.
This section is where most of your documentation to back up your business plan is included. You can also add photos of your bakery’s layout, your proposed design packages, and payroll plans.
Here are templates and real bakery business plan examples you can use as inspiration to setup your own business structure. These are available for download in PowerPoint, Google Docs, and PDF files.
- Bakery Business Plan PowerPoint
- Bakery Business Plan Google Docs
- Bakery Business Plan PDF
- If you are planning to open a physical store, be sure to delegate tasks. It’s fun to be hands-on with everything going around your bakery but you can’t manage the counter and be the baker at the same time. So appoint specific people for different roles but also have them multitask so you don’t hire too many people.
- Plan your menu accordingly. You do not want to bake a lot of bread and let them go to waste at the end of the day. Study the foot traffic around your area as well as your possible bestselling item. For instance, if Mondays are the busiest, then maybe you can double up on your recipes for a certain bread that everyone seems to like best. But you can slow it down on Tuesdays and focus on other items instead.
Don’t be intimidated in starting up your bakery and making this business plan. The point of the business plan is that it’s supposed to help you go through the finer details of your bakery. If the whole bakery business plan seems too complex for you then you just failed in understanding the purpose of it. It has to be easy to read and understand because it will serve as your guide.
Where are you planning to open your bakery? We’re just as excited as you are for this new adventure and look forward to hearing about the plans you put in place. Don’t forget to sign up for our free Food Business Startup Kit for exclusive interviews with bakery founders.
Want to start your own food business?
Hey! 👋I’m Brett Lindenberg, the founder of Food Truck Empire.
We interview successful founders and share the stories behind their food trucks, restaurants, food and beverage brands. By sharing these stories, I want to help others get started.
If you liked this story, sign up for our newsletter that includes our food business startup kit and most popular interviews sent straight to your inbox.
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About the Author: Brett Lindenberg
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Moscow International Business Center (Moscow City)
- Guide to Russia
What can you do at Moscow City?
- Dine in style: Moscow City is home to 100+ cafes and restaurants, including Europe’s highest restaurant and ice-cream shop
- See Moscow like never before: Ascend to one of Moscow City’s observation decks for an unparalleled panorama of Moscow
- Admire world-class architecture: Each of Moscow City’s skyscrapers has distinctive architecture and design
- Learn something new: Visit the Museum of High-Rise Architecture in Moscow or the Metro Museum
Moscow City is a multifunctional complex in the west of Moscow, which has come to represent the booming business of Russia’s capital. Its skyscrapers enrich Moscow’s skyline, contrasting the medieval cupolas and Stalinist high-rises. Visitors to Moscow City can enjoy entertainment high in the sky, as the complex is home not just to offices, but to restaurants, cinemas, viewing platforms, and museums.
![baking supplies business plan Moscow International Business Center (Moscow City)](https://www.expresstorussia.com/files/pages/017398.jpg)
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History of Moscow City
Moscow City was first conceived in 1991 by honoured Soviet architect Boris Tkhor, who proposed to construct a business center in Moscow. It would be complete with gleaming skyscrapers rivalling those of New York and London, to reflect the new life and growing ambitions of post-Soviet Russia.
The chosen site was a stone quarry and disused industrial zone in western Moscow, in between the Third Ring Road and Moskva River. Initially, the territory was divided into 20 sections arranged in a horseshoe shape around a central zone. The skyscrapers would increase in height as they spiralled around the central section, with shorter structures built on the waterfront to give the taller buildings behind a view of the river.
Architect Gennady Sirota, who contributed to iconic projects such as the Olympic Sports Complex on Prospekt Mira, was selected as the chief architect, and many other world-famous architects were attracted to Moscow to realise their visions in Moscow City.
What can you see and do at Moscow City?
Where Moscow’s cityscape was once dominated by Stalin’s Seven Sisters skyscrapers , this is no more. Moscow City is home to eight of Russia’s ten tallest buildings, six of which exceed 300 metres in height. More buildings are still under construction there today, including the One Tower (which will be Europe’s second-tallest building). Once completed, Moscow City will comprise more than 20 innovative structures.
Each of Moscow City’s skyscrapers was designed by its own architect, lending the cluster of skyscrapers a unique appearance. Aside from being a site of architectural wonder, Moscow City is a place for leisure and entertainment with over 100 cafes and restaurants, exhibition spaces, cinemas, viewing platforms, and more.
Photo by Nikita Karimov on Unsplash
Federation Tower
- East Tower: 374m, 97 floors; West Tower: 243m, 63 floors
- Completed in 2017
- Architects: Sergey Tchoban and Peter Schweger
The East Federation Tower is the tallest building in Moscow, and the second-tallest building in Europe after the Lakhta Centre in St Petersburg. Visitors can enjoy a luxurious meal of seafood, truffles or steak at restaurant ‘Sixty’ on the 62nd floor of the West Tower, or visit Europe’s highest observation deck, ‘Panorama 360’, on the 89th floor of the East Tower.
Did you know? The ice cream and chocolate shop on the 360 observation deck are the highest in the world!
- South Tower: 354m, 85 floors; North Tower: 254m, 49 floors
- Completed in 2015
- Architect: Skidmore, Owings & Merrill LLP
The South OKO Tower is the third-tallest building in Russia and Europe. Here, you can visit ‘Ruski’ to dine on hearty Russian cuisine cooked on a real Russian stove, and have a drink in the ice bar. Alternatively, visit restaurant, nightclub and performance space ‘Birds’; the restaurant is the highest in Europe, situated on the 86th floor roof terrace alongside an observation deck. The OKO Towers are also home to karaoke club ‘City Voice’.
Did you know? Underneath OKO Towers is the largest underground parking in Europe, with 16 levels and 3,400 parking spaces.
Mercury Tower
- 339m tall, 75 floors
- Architects : Mikhail Posokhin, Frank Williams, Gennady Sirota
Another multifunctional skyscraper, which was designed as the first truly ‘green’ building in Moscow. The Mercury Tower has a distinct geometric shape and copper-coloured glazing, and was the tallest building in Europe upon completion. Visit ‘More i myaso’ (Sea and meat) on the first floor of the tower to enjoy European and Mediterranean cuisine whilst surrounded by greenery. On the 2nd and 40th floors a modern art gallery, the ‘ILONA-K artspace’, has just opened.
City of Capitals
- Moscow Tower: 302m, 76 floors; St Petersburg Tower: 257m, 65 floors
- Completed in 2009
- Architect: Bureau NBBJ
The unique geometric design of the City of Capitals towers resembles stacks of rotating blocks, and is rooted in Constructivism of the early Soviet period (many Soviet Constructivist buildings can be found in Moscow). Visitors to the Moscow Tower can enjoy a range of cuisines – traditional Italian dishes on the summer terrace of ‘Tutto Bene’, Panasian cuisine in the tropical luxury of the ‘Bamboo Bar’ on the 1st floor’, and poke or smoothie bowls at ‘Soul in the Bowl’ cafe on the 80th floor.
Tower on the Embankment
- Tower A: 84m; Tower B:127m; Tower C: 268m, 61 floors
- Completed in 2007
- Architects: Vehbi Inan and Olcay Erturk
After completion, the Tower on the Embankment was the tallest building in Europe, and is now the 13th tallest. It houses the headquarters of several large Russian and international companies, including IBM and KPMG. There are two cafes located on the 1st floor of Tower C – self-service café ‘Obed Bufet’ (Lunch Buffet) and Bakery Chain ‘Khleb Nasushchny’ (Daily Bread).
Evolution Tower
- 255m tall, 54 floors
- Architects: Philip Nikandrov and RMJM Scotland Ltd
Evolution is Moscow City’s most recognisable tower, and the 11th tallest building in Russia. Its façade is a true architectural marvel, comprising continuous strips of curved glazing spiralling high into the sky. According to the architect, Philip Nikandrov, the spiral shape of the tower honours centuries of architectural design in Russia, from the onion domes of St Basil's Cathedral to Vladimir Shukhov’s Tatlin Tower, a masterpiece of Constructivist design. Outside the Evolution tower is a landscaped terrace and pedestrian zone descending to the Presnenskaya Embankment, which was also designed by Nikandrov.
Did you know? Moscow’s largest wedding palace was supposed to be built on the site of the Evolution tower, though the project was abandoned.
- 239m tall, 60 floors
- Completed in 2011
Imperia’s interesting design has a curved roof and an arched glass façade. Inside the tower are various cafes including ‘City Friends’ for all-day breakfasts and light lunches, ‘Mama in the City’ for simple meals of Russian cuisine, and ‘abc kitchen’ for European and Indian-inspired dishes. Alternatively, visit ‘High Bar’ on the 56th floor for cocktails with a view. In Imperia you’ll also find the Museum of High-Rise Construction in Moscow (suitably located on the 56th floor), and the Camera Immersive Theatre.
Did you know? Inside Vystavochnaya metro station is the Metro Museum , dedicated to the history of the beautiful Moscow Metro!
- 130m tall, 26 floors
- Completed in 2001
- Architect: Boris Tkhor
Tower 2000 was Moscow City’s first tower. It stands on the opposite bank of the Moskva River, and houses a viewing platform from which visitors can admire an unparalleled panorama of Moscow City. The Bagration Bridge reaches across the river from the tower to Moscow City, and underneath are piers from where you can take boat trips.
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Afimall is Moscow’s largest entertainment and shopping complex, home to 450 shops, cafes and restaurants, a cinema, and a virtual-reality game park. The shopping centre is located in the central section of Moscow City, and a cinema and concert hall are currently under construction there.
What’s nearby?
Sechenov Botanical Gardens: The botanical gardens of the First Moscow State Medical University was created for students’ training and research in 1946. Today it is open for free visits, and is home to a large arboretum.
Park Krasnaya Presnya: This park belonged to the Studenets estate of the Gagarin princes. It is a monument of 18th and 19th century landscaping, with Dutch ponds, ornate bridges, and tree-lined alleys. There are also sports facilities, sports equipment rental, and cafes.
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Photo by Akkit on Wikipedia
Essential information for visitors
Website: https://www.citymoscow.ru/
Email: [email protected]
Phone: +7 (495) 730-23-33
Nearest metro: Mezhdunarodnaya (closest to the skyscrapers), Delovoy Tsentr (underneath Afimall), Vystavochnaya (closest to Expocentre)
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Three years ago, a Dalit woman was murdered by her supervisor at a garment factory in India. Her co-workers did not wait for the company to respond. They organized collectively and engaged major global fashion companies, developing an enforceable agreement between the buying companies, the factories and their trade union to identify, remedy and prevent gender-based violence and harassment in their workplaces.
Known as the Dindigul agreement , the initiative established independent monitoring entities and trained female shop floor monitors with special retaliation protections to take immediate action on cases of gender-based violence and harassment. The agreement ensured that there were trusted and reliable grievance mechanisms in place. It also held companies accountable to resolving issues and providing workers access to remedy.
By 2026, companies are projected to spend over $27 billion a year on voluntary social audits to report on labor abuses in their supply chains. Yet, no audit would have stopped the tragedy in India. And in 2013, the Rana Plaza factory collapsed in Bangladesh , killing over 1,100 workers – days after an audit found no problems in the building. Voluntary third-party audits have all too often shown their limitations.
![baking supplies business plan Screenshot of the "Responsible Business Conduct and Labor Rights InfoHub" webpage. The main image is of workers wearing blue uniforms using sewing machines in a garment factory.](https://blog.dol.gov/sites/default/files/inline-images/RBC%20screenshot.png)
We believe businesses can and must do better. That’s why we’ve released the Responsible Business Conduct and Labor Rights InfoHub , a one-stop shop for information, guidance and tools from the U.S. government and international organizations to support the private sector in integrating labor rights and responsible business practices in their operations and across their global supply chains.
This comes as part of the U.S. government’s second National Action Plan on Responsible Business Conduct, founded on the Biden-Harris administration’s bedrock belief that businesses can have success while doing good, and that governments should create the conditions for responsible business conduct to take place.
The InfoHub provides companies with the knowledge and tools they need to comply with federal statutes, agency rules and trade provisions around responsible business and labor rights. It also makes government reports and advisories easily accessible, so businesses can stay up to date on emerging risks in priority sectors.
The site complements existing due diligence tools the Bureau of International Labor Affairs has created, such as Comply Chain and our List of Goods Produced by Child Labor or Forced Labor . The InfoHub also builds upon ILAB’s commitment to amplifying worker voice as a critical component of worker-centered due diligence.
![baking supplies business plan Through our new Responsible Business Conduct and Labor Rights InfoHub, we're providing companies with the tools for meaningful due diligence in their supply chains.](https://blog.dol.gov/sites/default/files/inline-images/30908335762_f1770b118a_k.jpg)
We urge all stakeholders — from civil society to the C-suite — to use these resources, tools and legal standards to engage in meaningful action, strengthen their due diligence and ensure workers in their supply chains can exercise their internationally recognized rights without fear of retaliation.
We are entering a new era of corporate compliance, one where binding commitments to support worker voice, as we see in the Dindigul agreement, emerge as powerful and viable tools. The businesses at the top of global supply chains have the power to make these agreements widespread and effective and to ensure that workers are at the center of these new processes and institutions. This requires not just standing up new processes to map and track impacts within supply chains, but on concrete, positive outcomes for workers. It requires not just setting up hotlines, apps or suggestion boxes for workers but respecting their rights to organize and bargain collectively.
Through the Responsible Business Conduct and Labor Rights InfoHub and other resources, the U.S. Department of Labor is providing companies with the tools to chart a path forward on meaningful due diligence and bolster the rights and protections of all workers.
Thea Lee is the deputy undersecretary for international affairs at the U.S. Department of Labor. Follow ILAB on X/Twitter at @ILAB_DOL and on LinkedIn .
- Bureau of International Labor Affairs (ILAB)
- supply chains
- labor rights
- Responsible Business Conduct
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AAK expands AkoPlanet platform with coconut oil
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AAK expanded its AkoPlanet platform for plant-based foods in the United States with the addition of coconut oil called AkoPlanet CNO 16-001. The company is adding the coconut oil to its AkoPlanet platform to support a sustainable coconut oil supply chain.
“At AAK, we are committed to helping formulators develop tastier and healthier plant-based foods that consumers will enjoy and purchase loyally,” said Ryan Branch, senior marketing manager for AAK USA. “Our experts work together to leverage food science, product development and an expansive toolbox of supplier partners to create healthier and more sustainable foods that are great-tasting, 100% plant-based, non-GMO and more. With our range of AkoPlanet solutions and dedicated approach, we can take plant-based foods beyond where they are today.”
The expansion introduces a coconut oil that abides by high sustainability standards and supports AAK’s commitment as a supplier of sustainable plant-based ingredient solutions while supporting farmers and featuring traceability to the farm.
(973) 344-1300 • www.aak.com
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Moscow's high rise bohemia: the international business district with no business.
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The Moscow International Business Center (Also known as Moskva-City ) was meant to be Russia ’s ticket into the Western world. First conceived in 1992, the district at the edge of Moscow’s city center is intended to contain up to 300,000 inhabitants, employees and visitors at any given moment and, when completed, will house over 4 million square meters of prime retail, hotel and office space to create what the Russian government desired most from this project: an enormous financial district that could dwarf London’s Canary Wharf and challenge Manhattan . Twenty three years later though, Moscow-based real estate company Blackwood estimates that as much as 45% of this new space is entirely vacant and rents have plummeted far below the average for the rest of Moscow. The only press Moskva-City is attracting is for tenants like the High Level Hostel , a hostel catering to backpackers and other asset-poor tourists on the 43rd floor of the Imperia Tower , with prices starting at $25.50 for a bed in a six-person room. This is not the glittering world of western high finance that was envisioned back in the post-Soviet 90s; but what has it become instead?
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Exclusive: Tesla scraps low-cost car plans amid fierce Chinese EV competition
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- Entry-level Tesla car won’t be built, three sources tell Reuters
- Tesla to focus on self-driving taxis instead, sources said
- Strategy shift comes as Tesla faces competition from China EV makers including BYD
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India's TCS misses Q4 revenue estimates
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Biden administration announces another round of loan cancellation under new repayment plan
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WASHINGTON (AP) — The Biden administration is canceling student loans for another 206,000 borrowers as part of a new repayment plan that offers a faster route to forgiveness.
The Education Department announced the latest round of cancellations Friday in an update on the progress of its SAVE Plan . More people are becoming eligible for student loan cancellation as they hit 10 years of payments, a new finish line for some loans that’s a decade sooner than what borrowers faced in the past.
Casting a shadow over the cancellations, however, are two new lawsuits challenging the plan’s legality. Two groups of Republican-led states, fronted by Kansas and Missouri, recently filed federal suits arguing that the Biden administration overstepped its authority in creating the repayment option.
“From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity,” President Joe Biden said in a statement. “I will never stop working to cancel student debt — no matter how many times Republican elected officials try to stop us.”
With the latest action, the Education Department has now approved cancellation for about 360,000 borrowers through the new repayment plan, totaling $4.8 billion.
The SAVE Plan is an updated version of a federal repayment plan that has been offered for decades, but with more generous terms.
Congress created the first income-driven repayment option in the 1990s for people struggling to afford payments on standard plans. It capped monthly payments to a percentage of their incomes and canceled any unpaid debt after 25 years. Similar plans were added later, offering cancellation in as little as 20 years.
Arguing that today’s borrowers need even more help, the Biden administration merged most of those plans into a single repayment option with more lenient terms.
The SAVE (Saving on a Valuable Education) Plan allows more borrowers to pay nothing until their income rise above certain limits. It also lowers payments more than past plans, eliminates interest growth and cancels unpaid debt in as little as 10 years.
Biden announced the plan in 2022 alongside his broader proposal for a one-time cancellation of up to $20,000 for more than 40 million people. While the one-time cancellation was struck down by the Supreme Court, the SAVE Plan moved forward and initially escaped legal scrutiny.
The repayment plan opened for enrollment last fall, with certain provisions scheduled to be phased in later this year. The faster path to cancellation was among those slated to start this summer, but the Biden administration fast-tracked that benefit early this year, announcing forgiveness for 153,000 borrowers who had hit 10 years of payments.
Almost 8 million Americans have enrolled in the plan, including 4.5 million who pay nothing because they have lower incomes.
In a call with reporters, Education Secretary Miguel Cardona said the plan provides relief and prevents borrowers from falling behind on their loans.
“Now they have some money back in their pockets, instead of a bill that too often competed with basic needs like groceries and health care,” he said.
Under the plan, borrowers who originally borrowed $12,000 or less are eligible for forgiveness after 10 years. Those who took out more than $12,000 can get cancellation but on a longer timeline. For each $1,000 borrowed beyond $12,000, it adds an additional year of payments on top of 10 years.
The Biden administration says it’s designed to help those who need it most. Counterintuitively, those with smaller student loan balances tend to struggle more. It’s driven by millions of Americans who take out student loans but don’t finish degrees, leaving them with the downside of debt without the upside of a higher income.
In two separate lawsuits, Republican attorneys general in 18 states are pushing to have the plan tossed and to halt any further cancellation. They say the SAVE Plan goes beyond Biden’s authority and makes it harder for states to recruit employees. They say the plan undermines a separate cancellation program that encourages careers in public service.
It’s unclear what the suits could mean for loans that have already been canceled. A court document filed by Kansas’ attorney general says it’s “unrealistic to think that any loan forgiveness that occurs during this litigation will ever be clawed back.”
The lawsuits don’t directly address the question, and the attorneys general didn’t immediately respond to an Associated Press request.
The Education Department says Congress gave the agency power to define the terms of income-driven payment plans in 1993, and that authority has been used in the past.
Along with the repayment plan, Biden is trying again at a one-time student loan cancellation. In a visit to Wisconsin on Monday, he highlighted a proposal to reduce or cancel loans for more than 30 million borrowers in five categories.
It aims to help borrowers with larges sums of unpaid interest, those with older loans, those who attended low-value programs, and those who face other hardships preventing them from repaying student loans. It would also cancel loans for people who are eligible for other forgiveness programs but haven’t applied.
The Biden administration says it will accelerate parts of the proposal, with plans to start waiving unpaid interest for millions of borrowers starting this fall. Conservative opponents have threatened to challenge that plan, too.
On Friday the administration also said it’s canceling loans for 65,000 borrowers who are enrolled in older income-driven repayment plans and hit the finish line for forgiveness. It also announced cancellation for another 5,000 borrowers through the Public Service Loan Forgiveness program.
Through a variety of programs, the Biden administration says it has now provided loan relief to 4.3 million people, totaling $153 billion.
The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org .
Copyright 2024 The Associated Press. All rights reserved.
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China needs a new economic plan that focuses less on exporting and more on domestic growth, 'Dr. Doom' Nouriel Roubini says
- China will stagnate if it relies on manufacturing and exports to grow, Nouriel Roubini wrote in Project Syndicate.
- That growth model is outdated and worked in a time when foreign markets were more open to Chinese products.
- Beijing must instead stimulate domestic demand and service-led GDP growth, the famed "Dr. Doom" economist said.
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China can't grow out of its economic problems if it stays focused on manufacturing and exports, says famed "Dr. Doom" economist Nouriel Roubini . Though this strategy sparked decades of impressive growth, it could now put China on course for stagnation, he warned on Thursday.
"The old Chinese growth model is broken," the perma-bear economist wrote for Project Syndicate , later adding: "China therefore needs a new growth model concentrated on domestic services — rather than goods — and private consumption."
His pushback comes as Beijing increasingly focuses on advanced manufacturing, boosting exports of products such as electric vehicles and solar panels .
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When China's economy was smaller, this form of growth made sense, as its exports were still manageable for foreign markets, Roubini said.
But with geopolitical tensions now rising, protectionism is starting to hamper the world's appetite for Chinese products, and could leave the country stranded with excess supply, he warned.
"Now that it is the world's second-largest economy, any dumping of its excess capacity will be met by even more draconian tariffs and protectionism targeting Chinese goods," he said. Other analysts have evened warned this could spark a trade war as soon as next year .
To avoid this and still generate growth, Beijing must instead invest in domestic demand, allowing services to take on a greater share of GDP, Roubini said.
His concerns are well-cited, as analysts have long pointed out China's low household consumption rates as a worrying set back for growth.
"The situation demands larger pension benefits, greater health-care provision, unemployment insurance, permanent urban residency for rural migrant workers who currently lack access to public services, higher real (inflation-adjusted) wages, and measures to redistribute SOE profits to households so that they can spend more," Roubini wrote.
But Beijing's leadership looks unwilling to bolster private-sector and household confidence, something Roubini blames on President Xi Jinping, citing that he's surrounded himself by advisors sympathetic to the current growth model.
Previously, economist Paul Krugman explained Xi's unwillingness to boost support for consumers and businesses due to a strong ideological dislike for for stimulus and welfare aid.
Watch: Protesters in China are trying to break out of quarantine
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A Sample Baking Supply Business Plan Template 1. Industry Overview. Those that are involved in the baking supply business are part of the Fresh Bread & Bakery Goods Wholesaling industry and players in this industry are made up of companies that perform merchant wholesale distribution of fresh bread and bakery products, as well as manufacturers' sales branches and offices that segment out ...
Opening a bakery business can be an exciting endeavor. Having a clear roadmap of the steps to open a business will help you stay focused on your goals and get started faster.. 1. Develop A Bakery Business Plan - The first step in opening a business is to create a detailed bakery business plan that outlines all aspects of the venture. This should include potential market size and target ...
The baking supplies industry is booming, with a projected market value of $16.3 billion by 2026. With so much potential for growth, now is the time to take the leap and start your own business. In this blog post, we will guide you through the process of writing a business plan for your baking supplies store in 9 simple steps.
This checklist will guide you through the nine crucial steps of creating a comprehensive business plan for your bakery supply store. Step 1. Research the bakery supply industry: Familiarize yourself with the latest industry trends, growth projections, and consumer demands. This research will form the foundation of your business strategy.
01. Executive summary. An executive summary is a concise and compelling overview of your bakery business plan, designed to capture the reader's attention and provide a snapshot of the entire plan. This section should be written last (after you've crafted the rest of the plan), to ensure that it accurately reflects the key points and highlights ...
A bakery business plan is a detailed document that outlines the intended activities, goals, and strategies for a new or existing bakery. ... Calculate the cost of goods sold (COGS) by considering the cost of ingredients, packaging materials, and other baking supplies required for your menu. Deduct COGS from revenue to determine the gross profit ...
Company Overview. This section of your bakery business plan provides a comprehensive look at the company's history. Include details on your bakery's legal structure, founding, location, and current business stage, as well as your past accomplishments and unique qualifications. Clearly explain anything that makes you a strong competitor in ...
Offer sampling and tastings: Give potential customers a chance to try your baked goods and entice them to purchase. Create eye-catching displays: Invest in appealing window displays and enticing signage to create a visually appealing environment that attracts customers. 5. Financials and pricing.
1. Executive summary. The executive summary section of your bakery business plan summarizes the document and its contents. Remember, this is meant to highlight what's to come in your business plan, not serve as a summary of your business idea. Focus on your business's core strength to draw in your reader.
Startup expenses of $64K including $3K legal, $20K location premises renovation, $40K expensed equipment, and $1K other. These show up as negative retained earnings in the initial balance because they are incurred before launch. Starting cash in the bank of $70K. (in initial balance) Other current assets of $12K (in initial balance)
Writing a business plan for your bakery might seem more complicated than baking the perfect croissant. But we'll let you in on a secret: it's easier than you might think. And we're making it even simpler with a step-by-step breakdown to help you rise to the occasion. 1. Executive summary.
10. Purchase bakery equipment and supplies. To turn a baking hobby into a baking business, you'll need to invest in some industrial equipment and supplies. This can include ovens, mixers, baking sheets, refrigerators, display cases, and more. You can purchase new or used bakery equipment, depending on your budget.
The importance of a baking business plan. Mainly, it is created to help the owner or entrepreneur think through all the important aspects of the business, identify potential challenges, and come up with a strategy for success. A well-crafted bakery business plan can also serve as a roadmap for the company's growth and development.
Our bakery business plan is designed to encompass all crucial elements required for a thorough strategic approach. It details the bakery's operations, marketing strategy, market environment, competitors, management team, and financial projections, ensuring a holistic view of the business's path to success. Executive Summary: Offers an ...
Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from any example or template you come across.
Bakery Plan Executive Summary. As the first section of your business plan, the executive summary is your prime opportunity to make a great impression with a concise summary of your bakery's concept. An executive summary introduces key elements of your business plan like an overview of the budget, the business's mission, market, and core values.
How to Start a Baking Business. Whether you're passionate about creating decoratively frosted cakes or artisan sourdough loaves, you must create an action plan for turning your passion for baking into a business.Discover the steps of opening a bakery below. 1. Choose a Bakery Style. While there are many bakery business models, they all fall under one of two umbrella categories: retail and ...
Download Templates. Here are templates and real bakery business plan examples you can use as inspiration to setup your own business structure. These are available for download in PowerPoint, Google Docs, and PDF files. Bakery Business Plan PowerPoint. Bakery Business Plan Google Docs.
A west coast style sourdough made with local flour. Our tangiest option with a chewy crust and open crumb. Our Traditional Sourdough with pumpkin, flax, poppy, and sesame seeds. A hearty loaf with robust flavor and plenty of sourdough tang. A french country loaf - sweet and more mild than our Traditional Sourdough.
255m tall, 54 floors. Completed in 2015. Architects: Philip Nikandrov and RMJM Scotland Ltd. Evolution is Moscow City's most recognisable tower, and the 11th tallest building in Russia. Its façade is a true architectural marvel, comprising continuous strips of curved glazing spiralling high into the sky.
By 2026, companies are projected to spend over $27 billion a year on voluntary social audits to report on labor abuses in their supply chains. Yet, no audit would have stopped the tragedy in India. And in 2013, the Rana Plaza factory collapsed in Bangladesh, killing over 1,100 workers - days after an audit found no problems in the building.
04.11.2024. By Keith Moore. AAK expanded its AkoPlanet platform for plant-based foods in the United States with the addition of coconut oil called AkoPlanet CNO 16-001. The company is adding the coconut oil to its AkoPlanet platform to support a sustainable coconut oil supply chain. "At AAK, we are committed to helping formulators develop ...
The Moscow International Business Center (Also known as Moskva-City) was meant to be Russia 's ticket into the Western world. First conceived in 1992, the district at the edge of Moscow's city ...
The Moscow International Business Center (Also known as Moskva-City) was meant to be Russia 's ticket into the Western world. First conceived in 1992, the district at the edge of Moscow's city ...
The climate targets verification group that announced a plan this week to allow companies to offset greenhouse gas emissions from their supply chain with carbon credits came under new pressure on ...
Financial plan and projections. 1. Executive summary. The executive summary section of your bakery business plan summarizes the document and its contents. Remember, this is meant to highlight what's to come in your business plan, not serve as a summary of your business idea. Focus on your business's core strength to draw in your reader.
The stark reversal comes as Tesla faces fierce competition globally from Chinese electric-vehicle makers flooding the market with cars priced as low as $10,000. The plan for driverless robotaxis ...
Biden announced the plan in 2022 alongside his broader proposal for a one-time cancellation of up to $20,000 for more than 40 million people. While the one-time cancellation was struck down by the ...
China needs a new economic plan that focuses less on exporting and more on domestic growth, 'Dr. Doom' Nouriel Roubini says. China will stagnate if it relies on manufacturing and exports to grow ...
April 2, 2024 at 11:01 AM PDT. Listen. 4:24. The Biden administration wants to tackle rampant shortages of drugs for cancer and other diseases with a multibillion-dollar plan that calls for ...