Cupcake Business

I conducted extensive market research and I wealthy person considered this project, because I institute in my survey that having a cup cake shop is a lucrative mountaininess. The shop result specialise only in cupcakes. I throw my own unique recipes. This is one of the things which is my strength. Not many lot earn their own unique recipes. To enable my business to prosper I have the impulse of implementing special offers, which introduces the business to the customer. I am lucky enough to have found a good chef which works alongside me to create new flavours. The decisions about(predicate) the recipes ar made by me and the chef, but I have the final word. The structure of the business allow for be as a Sole Trader. This is the rapid and easiest way of setting up a new business. This type of structure could be danger, because I am responsible with my property.LocationFinding right location is a main key to maintaining a successful business. The ideal location is the cent re of town. There ar a covey of people passing by. The research I have do shows me that, there arent any similar shops within a radius of 10 miles. Opposite the shop is the towns main bus station, where people can have cupcakes while they are waiting for the bus. My research shows, that there is Primary school and Secondary school right behind the shop. The parents which garner their children pass by the shop. They can also take a good look at what we are offering by looking at the stupendous window display. The smell of freshly made cupcakes lead be one of the things, which the children can catch early in the morning.FinanceTo start up the cupcake business you will need approximately 40,000. I have 10,000 capital, but I will need a loan from the bank for the additional 30,000. The research I have done and the special advice I have been given says, that I am not entitled to get a personal loan more than 20,000. however because of the structure of my business as a sole trader I have an option of getting the full amount of 30,000. I have a good tailored business plan which has enabled me to obtain the business loan I need. I will be responsible with my own property and this will secure the loan. The loan which will suit me is with a fixed interest rate and equal monthly instalments.Internal selective informationAll organisations generate a substantial amount of information relating to their operation. This inner(a) information is vital to the successful management of the organisation. The information may be available from a number of sources within the organisation, for example Marketing and gross revenue information on performance, revenues, markets shares, distribution channels. Sales figures and sales research are very reliable sources of information, because the consumer tells you what they want. Production and operational information on assets, quality, standards.This information will help me to reinvent products to help them sell better. Financial information all on profits, costs, margins, cash, flows, investments. The information about the profits will show me in what bang my business is going in and where I can improve my financial position. Internal documentation such as order forms, invoices, credit notes, procedural manuals. The internal documents are important part of doing an audit. The results of doing an audit also relates to finances.External informationAn external source of information is concerned with what is happening beyond the boundaries of the organisation. This covers any documentation relating to a way out area produced as a summary or detailed report by an agency external to an organisation. Such information may be gettable from government agencies or private information providers. Examples might include Telephone directories this could be used to check for existing companies that are similar. Judgments on court cases helps to preclude a mistakes made by someone else.Legislation Food Hygiene Certi ficate, Health and Safety Certificate, Fire Safety Certificate. Professional publications helps to find the right way of tally a successful business. Financial services banks, accountants, solicitors, lawyers. The internet in todays days the people use internet most of the time. Social media sites are very popular and are also used as a place where you can advertise your business and generate customers.SummaryMy business would run at a profit if I attract my customers with special offers. This will include snubs for kids and elderly. Regular customers will also be entitled to get a discount for their loyalty. There will be various levels of discounts for corporate clients, depending on how much they order. Low prices and good quality will help me to generate a lot of customers. One of the foundations for starting up a new business is my unique recipes. They are designed by me, but the chef who is going to work with me helps me to prepare them. The recipes are a combination of u nusual flavours and designs.This will also help me to attract new customers. The environment which I provide to the customers must be nice, clean and friendly. When people are in my cupcakes shop, I want them to feel relaxed and comfortable. The staff that I employ will be trained in customer service. They will be polite and respectful. Often team-building is helpful for developing a good relationship between the staff. They also can come up with new ideas, which can be discussed and put into action. I have a good location which is near a bus station, schools and few office buildings. The research I have done shows me that throughout the day nearly 3000 people passing by the shop. The location is ideal for this type of business. To improve my business in future I will make plans for expansion following the above steps. Opening a chain is a good improvement.