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Knowing what your customers look like demographically can be a tremendous help with everything from pricing to products.For example, if you have a significant Hispanic population you might offer specialty goods for holidays like Día de los Muertos.As a bakery owner, your job isn’t only to make delicious baked goods.
To help you begin to form a picture of your customers, take a look at local census data.
Also, take into account if you can rely on both local traffic and tourists as this could affect your bakery at different times of the year.
This section also gives you the opportunity to breathe a little more life into your business plan.
While you should have bios that include the usual education and experience, you can use the management team section to demonstrate your team members’ passion for your bakery and the strengths they bring to the table.
While you may be an excellent baker, you might not have a knack for keeping the books.
Here is where you should discuss plans to hire an accountant, or any other operational staff, along with their compensation.Either way, be descriptive about what makes your bakery unique.While the section above looked internally at your bakery’s offerings, this section is dedicated to looking outward to the market landscape.Can you learn anything from your competitors’ successes or failures?When conducting a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis, what internal and external factors do you need to consider moving forward?Answer the questions that an investor or lender will be especially interested in: When will you make a profit? You should revisit your business plan every three to five years to make sure you are on track and make any adjustments that you might need.While there is no one right way to manage, there are certainly some things you can do that will lay a foundation for your employees to thrive and motivate their desire to improve themselves and your bakery.A business plan needs to include plans for the present and the future.Ask yourself questions like: To get started, really think about all of the answers to questions relating to the present and future of your bakery. Maybe take a weekend retreat to get it done, or even talk it through with your family or advisers.While it’s tempting to forgo what might seem like a tedious exercise, taking the time to go through this exercise will not only help you think through the best approach to growing your business, but it will also serve as a guiding document for hiring, expanding, and more in the future.When you sit down to create a business plan for your bakery, you need to look at your business from every angle; even angles that aren’t there yet!