Beniamin Calin Bp

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School

University of West London *

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MISC

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Business

Date

Nov 24, 2024

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docx

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Uploaded by CommodoreKudu2300

Student: Beniamin Calin Starting a Business and Fundam entals of Marketi ng

1. Executive Summary 1.1 Business Sweet is a confectionery company in Nottingham, that produces and sells high-end baked goods to retail and wholesale customers. We sell pre-made as well as made-to-order confections using local ingredients. 1.2 Competitive Strategy Sweet will be providing the Nottingham community with high-end baked products made from local supplies. Sweet customer value proposition is to provide individual and business customers in Nottingham with baking goods based on fine quality, supreme taste, and unique and original design, as well as decorating instructions. As a differentiated product and service provider, Sweet will be positioned at a higher price point. 2.1 Mission Statement Our aim is to provide bring unique confectionary products and services to Nottingham and the greater community by retailing and wholesaling tasty treats and hosting treat design classes. Sweet is a confectionary company dedicated to providing high-quality desserts to a variety of customers. We concentrate on the high-end market of products as we maintain the focused differentiator strategic position in the food and education industries. Our products are priced higher and predicated on quality of inputs, exceptional flavor and taste, unique design and customer service. We maintain a friendly, creative, and fair working environment that welcomes diversity, hard work, and new ideas. We intend to generate profit to provide a fair return for our investors and to expand the business into other surrounding communities. 2.5 Industry Analysis The Food Network and other television networks have developed eye catching programs such as Ace of Cakes, The Ultimate Cake Off, and Wedding Cake Competition, to name a few. Cake Boss, a program on TLC, has an average of 2.4 million viewers per episode and is the number one food show on cable for channels P18-34 and W18-34. The word is out; UK people love cake and cake shows. To take advantage of this trend, Sweet will offer both products and services geared towards the high-end confectionary ―experience . Sweet is the ‖ outlet for people in Nottingham and surrounding areas that have become hooked to these television shows. Competitor Sweet is set apart from the competition in four main ways.   In an era when food is becoming chemistry, Sweet will focus on raw, natural, and sometimes organic and local ingredients to create its product. Thus, our products taste better and are better for you.   Each of our products contains extra detail to set it apart from the competition. We ensure that our products appeal to the eye as well as to the stomach.

  The sky is the limit when developing a pastry design. We will cater to the wants and needs of our customers in every way possible. When customers want detailed or shaped cakes, we will match the picture or the design that they provide.   Customer service is our number one priority. We will ensure that each customer is treated with kindness, respect, and a warm welcome on each visit to Sweet. Marketing Strategy The Butte Silver Bow Community is notorious for supporting local businesses. Therefore, Sweet focuses on using Nottingham ingredients whenever possible to encourage this localization. Employees are trained in a customer focused manner and to be very knowledgeable of our entire selection of goods and services. The bakery business is extremely seasonal. Various products are sold in greater volumes depending on the season or nearing holiday. For example, the pie sales are rather low throughout the year except during the holiday seasons of Thanksgiving and Christmas. Weddings are also exemplify the seasonality of the business as most weddings occur during the summer months. In order to off set this extreme seasonality, Sweet offers a wide variety of products and focuses not only on seasonal celebrations, but also events that happen year round such as birthdays and anniversaries. In addition, the cake decorating classes will be offered year round and are not as affected by the time of year. SWOT ANALYSIS Strengths: Location: The location of the patisserie (Nottingham) is close to schools, a large tertiary education campus and within close proximity of the Central Business District. The demographics of the area show a high proportion of residents being from an international background meaning there is a greater demand for the product, and the age and income breakdowns show that a large portion of local residents have enough time and disposable income to make the offering of cooking classes a viable option. International Quality Products: Proven international pastry chefs will be hired to work for our business, and combining their skill with fine produce, the products sold by our business will be of international quality. Friendly Staff: Our business will not only be marketed around the quality products, but also the high standard of customer service. Service is extremely important in retaining and gaining customers. Diverse Selection of Products: Our business will offer an array of European pastries as well as specialist cakes, meaning customers will not be disappointed with the range of products. Open Customer Friendly Hours: Our business will be open from early in the morning until late at night to cater for almost everyone's needs and wants. Early customers might include, but are not limited to: parents picking up something for their kids/themselves before or after

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school or attending cooking classes during the day or later at night, work commuters picking up something to eat during the day, training pastry chef's coming in for lessons to further their knowledge. Ambience of Cafe: The interior decor and layout of the cafe will be very accessible for all patrons, and have a comforting feel. Weaknesses: Perceived Lack of Demand: Because of the number of cafe's in the area, business may be tough initially. Potentially Expensive Bills: The utility bills (water, electricity and gas) are likely to be quite large as our business operates long hours and requires a large input of energy to make the products. The washing of equipment will also require a large amount of water. Hiring Staff: We are marketing our business as international quality products and chefs. Finding and employing industry professionals will be a tough and costly exercise, as they will demand high salaries and relocation expenses. Opportunities: Online Retailing: Having an online site for businesses is almost a necessity in the current business climate, and it would be a great way to advertise our products and possibly expand our business. Catering opportunities can open from this. Encouraging Cultural Growth: By having a truly European business in an already European area of Perth can further develop the growth of the culture in surrounding areas. Threats: Competition- The area for the proposed new business has a large number of small patisseries, which means a lot of competition. In order for our business to succeed in this monopolistic environment, we will need to be unique and differentiate our service from that of competing businesses. This can be done by the means of product selection, service methods and creating a generally friendly, welcoming environment with nice decor. Broad- A potential weakness is that the range of products and services offered may be too broad to succeed as a small business Cost: Our business is going to need to turn over a large amount to be profitable. The cost of hiring imported professional pastry chefs and friendly staff, purchasing top quality produce and bills will be expensive.

PESTLE ANALYSIS(CANTONERU) Every start-up business needs to look at the environment in which it will operate. For this, we chose to talk about the macroeconomic environment and we chose a few factors such as political, economic, social and legal that affect our business (Feys and Probert, 2015). POLITIC From a political point of view, we can discuss the influence of international trade on this cake industry. The attitude of the Government is important for us because they can ask us for certain licenses and permits that we need to be interested in from the beginning, in order to be able to run our business in the best conditions. Also, the high taxation for our suppliers who provide us with the raw material is a disadvantage for us, because we have to pay a higher price for what we buy. ECONOMIC The economic factors that affect our business are usually the inflation rate, the savings rate, the interest rate or the income of the population. These factors help us anticipate an increase or decrease in sales over a period of time. Usually, everything starts with the economic factors because if the economy is stable and the unemployment rate is low, then we will also benefit. Here I mean that there may be people who do not work or the minimum wage on the economy is not enough and then they will not be able to spend in our shop. On the other hand, if the economy grows and incomes grow, people will be eager to invest in personal pleasures such as a cake. SOCIAL From a social point of view, what affects us could be an increase in interest rates, which leads to a decrease in our sales. Also, when the average income does not increase at all, consumers do not have money available to spend on luxury products, such as our cakes. Consumer revenue is also declining and customer confidence in our products may be declining. Competitive prices from our competitors also affect us in a negative way, because they can reduce our profit. Social factors are closely linked to consumer behaviour. As mentioned earlier, coffee is considered a luxury product and there are people in certain rolling areas who cannot afford to spend their income. Also, if our potential clients have a negative attitude towards work, they will not work and will not have a source of income to invest. It is observed that the average

age of the population is ageing and the birth rate is not increasing. We currently want to focus on young people, but if the global situation remains the same, we will have to expand. TEHNOLOGIC Technology plays an important role because it dictates everything that happens today. The evolution of technology allows us to have more advanced machines that make our work easier and we can serve our customers faster, with the possibility of attracting as many customers as possible (Harry Horace Harman, 1976). Unfortunately, the technology is also quite expensive because we should identify all the updates to keep up with our potential competitors. We also want to use the implementation of a site to allow customers to access our menu, so if we offer quality services we will have the opportunity to grow our image on the market. The main impediment will be capital because we need a large enough amount to be able to invest in this method of promotion. CONCLUSION To sum up, the business plan intends to inform its recipients, the advisers about its fundamental technical details. In our business plan, we concluded these things. First, the business would not be made possible without the Investors. Second, we want something different from other bars, that is why we brew our own beer that are made from local ingredients because we believe that it is a unique concept that would attract customers REFERENCE Feys, B. and Probert, C. (2019). PESTLE analysis. 50Minutes Harry Horace Harman (1976). Modern factor analysis . Chicago: University Of Chicago Press. Opentextbc.ca. (2019). A Firm’s External Macro Environment: PESTEL – Principles of Management . [online] Available at: https://opentextbc.ca/principlesofmanagementopenstax/chapter/a-firms-external-macro- environment-pestel/.

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