What is an effective bakery business plan?


Quick Answer

According to Inc., an effective bakery business plan includes a market study with data on the bakery’s targeted customer base, data on product sales in the market area, information about competitors, sales predictions and how the bakery plans to stand out from the competition. An effective bakery business plan should also include physical concepts with information, such as space and equipment required for the bakery.

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Full Answer

Inc. also recommends that bakery business plans account for such considerations as any space needed for future expansion possibilities, labor and equipment installation costs, whether vehicles are necessary for transportation and their costs, such as purchase, gas, insurance and maintenance. An effective bakery business plan also includes a good name, something that evokes both warmth and comfort. Effective bakery business plans spell out the types of products the bakery sells, such as premium, medium-priced or low-end, as well as the bakery’s planned hours, whether it caters and holds parties, and how many employees are needed and their wages.

Forbes recommends comprehensive profiles of each partner or team member. What are each person's qualifications, education, training and expertise? Having a financial performance section is critical, according to Forbes. It should include past performance, if the business is not new, and projections for at least three years. A break-even point should be included. It details how much money the bakery needs to make to offset the initial investment.

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