Dcoument contains idea of a small business in detail using swot anlysis and other legal requirements are also discussed plus entry to the business and posssible measures
Starting a small business
We contemplated on different options and ended up moving forward with the idea of opening
a small bakery. Picking up a name was rather a difficult exercise but finally we were happy to
name it ‘Wing bakers’
Wing bakers
Introduction: We decided to move forward with the idea of opening a bakery.
We decided not to put all our eggs in one basket and started with a limited
revenue. The purpose of starting this business is to get to know market better and
offer services that no other competitor is offering. The purpose of this bakery
would be providing customer the highest level of satisfaction by making sure that
quality of products is extremely good.
We would start with different products but our specialities would be cakes and
desserts. Offering customers high quality baked cakes at a reasonable price would
be something that would attract a lot of customers and give some tough time to
our competitors. Desserts would be of different types keeping in mind weather
requirements and demand of customers. We also discussed and decided that
there will be sugar free items so we can target all kind of audience. There are a
big number of customers who like sugar free cakes because of their consciousness
about their weight. There are also patients who cannot eat sugar so that would
give them an opportunity to enjoy delicious sugar free cakes and desserts.
We made sure to set reasonable prices so people from different background can
have the opportunity to enjoy these items. There will be another option for
customers to order these items while sitting in comfort places at their homes
because we are providing home delivery too.
We would arrange a small event for introduction of our business and invite
different vendors and agents so that they also know about this place if they want
to purchase on wholesale or need something in near future. Vendors and
salesman are important to have around when you are running a small business so
that they can convince different people and tell them about this bakery.
, External analysis
Strength Weaknesses
Whether you offer bread rolls, Young staff having Little experience
cupcakes or wedding cakes ‘the major running a bakery.
strength of a bakery is the consistency No experience in production, ordering,
and quality of its products. inventory management.
Expense to clean equipment.
Gluten products don’t stay fresh as
long as wheat based pastries.
Customer confusion about wheat free
and gluten free products
Opportunities Threat
Markets developments. Area wise competition
Industry or life style trends. The new business trends.
Innovation and technology Our competitors having better
development. advertising.
Global influences. Economy.
Market dimension, horizontal, Target
markets.
Geographical imports and exports.
Major contracts and surprises.
Business/product development.
, Pestle Analysis
Strength Weaknesses
Strong brand name Escalating debt
Niche market in high end Cash flow cycle
Geographical diversity Distribution
Opportunities Threats
Global expansion plans Strong competition both locally
New market exploitation Fast changing fashion trends
Online sales in developing markets Change in labour/wage law
Traditional marketing
Porter 5 forces
P E S T L E
Governmen Economic Population Technology Weather Discriminatio
t Growth Growth rate Climate n laws
Policy Incentives
Exchange Age Environment Antitrust
Political Rates Distribution Level of al policies laws
Stability Innovation
Interest rates Career Climate Employment
Corruption Automation Change laws
Inflation rates Attitudes and activity
Foreign Pressures Consumer
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