EXECUTIVE SUMMARY FOR BAKERY/PASTRY BUSINESS PLAN IN NIGERIA
There is a shortage of bakeries where customers can get freshly baked pastries in a higher income market in Ile-Ife Osun state.
This is a university environment filled with students in need of fast food and snacks.
SINGLEBITE Bakery is proposing to offer just about the best and perfect solution in this environment by having a bakery located at No 55 ibaka street, opposite University Gate.
SINGLEBITE will offer different types of bread and sandwiches in addition to quality pastries.
We will also make up custom orders for special occasions (such as weddings, baptisms, birthdays, and corporate events) for our customers.
This business idea was created by two partners who met in a business seminar 5 years ago and got to know that they share a common goal that is service to humanity by eradicating hunger through easy to come by and affordable bread.
They both have the qualifications and experience necessary to set up the business
.Mr Ajileye graduated with a Professional Baker’s Certificate and has 10 years of experience in the bakery industry while Mr Richard holds a Master’s degree in pastry making and has 11 years of experience in the field.
SINGLEBITE will be a limited liability company, to which Mr Richard will be the CEO and Mr Ajileye will assume the role of Chairman of the Board of Directors.
Mr Richard will own 60% of the company, while Mr Ajileye will own 40%.
We believe that our prime location and the quality of our products should enable us to build a loyal customer base in the local market.
The biggest age group in the town is 20 – 24 year old
Ile-Ife young population can be explained in particular by the presence of students from Obafemi Awolowo University.
Its location near the park and access to neighboring towns also provides an opportunity for businesses to target professionals travelling to and also in the opposite direction.
The township is a commuter town, popular amongst families and young professionals, so a bakery would well serve the needs of those living there.
The company will focus on European Style; naturally leavened breads made with high quality ingredients. Breads will be baked and sold at a storefront facility using a 4 deck, steam injected bread oven.
Labour saving devices will allow the proprietor to run the entire operation with the help of two part time, seasonal employees.
SINGLEBITE main competition includes a restaurant and four bread stalls in the University area.
Its advantage lies in the high quality of its products due to specialization and artisan manufacturing.
The main marketing focus will be an eye catching sign, the scent of fresh bread wafting out of the storefront, and periodic printed advertisements.
The company will sample its products liberally.
After establishing the operation, the company will explore the possibility of making takeout sandwiches.
Delivering wholesale bread and baked goods to area restaurants and specialty retailers will also be considered.
Major costs to start this business include equipment purchases, shop rent, ingredient purchases, site modifications, and marketing, which total N500,000.
Opening day is scheduled for Aug 30th.
While SINGLEBITE has the potential for high growth, the first two years will be spent establishing company financial stability and increasing market share.
Production of sellable breads is projected to begin on Aug 30 2022. Raw ingredients will be ordered for locally twice a month delivery from Tisco Farm.
OBJECTIVES AND GOALS OF OUR BUSINESS PLAN
-Customers satisfaction in every sense by providing good quality bread and pastries in an hygienic environment.
-Continuous growth in sales in the next 18 months.
-Provision of quality products at reasonable prices with the best customer service.
-To be among the top 5 bread producing companies in the south west region of the country.
COMPETITIVE STRENGTH
-Offering organic, high-quality food items including baked goods, sandwiches, salads and more.
-Offering a convenient location that offers both eat-in and take-out options.
-Providing excellent customer service
OUR CUSTOMERS FOR BAKERY BUSINESS PLAN IN NIGERIA
-Morning commuters: many local residents drive to neighboring towns to get taxis to work.
SINGLEBITE BAKERY is conveniently located for these individuals to pick up breakfast pastries in the morning or pick up a sandwich in the evening.
-Local office workers: approximately 2,000 individuals work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent us during the morning and lunch hours.
–Students: there is a university and there are many secondary schools in the town. The University is within one and half mile to the bakery.
Students from these schools will be targeted to frequent our bakery.
-Restaurants and hotels.
-Households.
-Supermarkets.
-Corporate organizations.
-Travelers along the south west region of Nigeria.
-Bread wholesalers.
-Bread vendors and retailers.
MARKETING PROMOTION STRATEGY
- SINGLEBITE expects its target market to be individuals working and/or living within a 5-mile radius of each of its stores. The Company’s promotions strategy to reach these individuals includes:
SINGLEBITE BAKERY will blanket neighborhoods surrounding its locations with direct mail pieces. These pieces will provide general information on the company’s offer of discounts and provide other inducements for people to frequent the store.
- PUBLIC RELATIONS
We will contact all local and area newspapers and television stations to tell them about the opening and unique value proposition of SINGLEBITE
- ADVERTISING
SINGLEBITE BAKERY will have a Business website and will also distribute fliers around the neighborhood of the bakery to create awareness.
- SAMPLING
SINGLEBITE BAKERY employees will initially give free bread samples to passersby to enable them have a taste of the quality of our products and learn about us.
- ONGOING CUSTOMER COMMUNICATIONS
SINGLEBITE BAKERY will maintain a website and publish a monthly email newsletter to tell customers about new events, products and more.
- PRE-OPENING EVENTS
Before opening the store, the bakery will organize pre-opening events designed for prospective customers, local merchants and press contacts. These events will create buzz and awareness for the bakery in the area.
PRICING STRATEGY
SINGLEBITE BAKERY pricing will be moderate so customers feel they receive great value when patronizing the stores.
THE MATERIALS NEEDED FOR OUR BAKERY BUSINESS PLAN IN NIGERIA
The materials needed for our bakery business are:
- -Building
- -Flour mixer
- -Baking pan
- -Commercial oven
- -Slicing machine
- -Bread wrappers
- -Baking powder, groundnut oil, sugar, eggs, flour, yeast, skimmed milk and flavours.
STORE DESIGN
SINGLEBITE BAKERY will develop a 2,500 square foot store whose key elements will include the following:
- -Kitchen area
- -Ordering counter
- -Tables to comfortably seat 15 customers
- -A play/informal eating area
- -Restrooms
The retail location will have 20 dedicated parking spots which should suffice even in peak hours.
SINGLEBITE BAKERY plans to be open 7 days a week, from 7AM to 8PM. As demand dictates, we may extend or reduce our hours. Likewise, as demand dictates, we will offer delivery service.
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