A bakery business plan is a must-have if you’re looking to start a bakery business.
While running a bakery is no easy feat, it’s not impossible either. If you’re a passionate baker and want to run your own business, then there are a few things you need to know before starting your own bakery. From recipes to ingredients and what type of space you’ll need to rent, there is plenty to think about.
But, one of the first things you will need before embarking on your bakery journey is a business plan.
A good bakery business plan will walk you through each of the steps involved in opening a bakery, and help you plan for success.
Below is a list of some of the key things to include in a bakery business plan.
The Executive Summary
The executive summary is not just a brief introduction, it is an overview of your entire business plan and should outline all the important information in a way that grabs the reader’s attention.
As the executive summary highlights key information and outlines the different sections of the business plan, it should include:
- The objective of your bakery business
- Number of employees you expect to hire and management team
- The bakery’s target market
- The products or services your bakery will provide
- An outline of any marketing and sales tactics
- Competitor analysis and your competitive advantage
- Investment or funding needs
- Cash flow forecasts
- Summary of future plans and growth projections
The executive summary should also detail how the business plan will be implemented.
Tell Everyone About Your Bakery in the Company Description
In this section, you will go into detail about your bakery, the products you will serve, the customer base and the competitive advantage your bakery will have over the competition.
In the company description, you can also list your staff, if you have an award-winning baker on your team, where you plan on setting up shop and any other key details about your bakery.
You will also detail the hours of operation, the business structure, the bakery’s history and any important milestones. The company description will also allow you to detail the products you intend to sell, the prices and how they meet the needs and wants of the target market.
Funding and Financial Projections
While opening your own bakery can be an exciting venture, it can also be an expensive one and your business plan will need to detail startup costs, funding requirements and cash flow forecasts.
Other necessary details and sections in a business plan include:
- Company goals and aspirations
- Market analysis
- Marketing and sales strategies
- Financial projections
- Service or product line
Why You Need a Bakery Business Plan
Whether you have been in business for a while or have just started thinking about opening a bakery, you need to have a business plan.
It will help guide your decisions and give them a logical foundation. Additionally, a well-written bakery business plan is essential to help you attract investors and lenders.
You should also make your bakery business plan available to vendors, employees, and others who want to know more about your bakery.
