Executive Summary of Bakery Business Plan in Nigeria.
PATILAD Bakery and Confectioneries is a new company specializing in different variety of bakery products. Over the years there has been a consistent demand for bakery products. This can be explained to a large degree by the fact that bread makes up a significant composition of food taken by low, middle and high income earners in Nigeria. Bread is fast and suitable food based on wheat. What was once a product of an artisan and unpackaged production process has transformed into a technological process that result into varieties of packaged product. This is very positive for consumers as well as bakeries and confectioneries such as PATILAD that specialize in these products.
PATILAD Bakery and Confectionaries will be located at Winners Road Ile-Ife, Osun state. Lagere is a very popular location because of strategic positioning within the Winners chapel neighborhood. It is also a prime location for most employees of the surrounding downtown businesses. The bakery sells loaf bread, sliced bread, wheat bread and other specialized baked bread to the surrounding community from 8am to 8pm daily (i.e. Mondays to Saturdays).
PATILAD Bakery and Confectionaries, situated in the heart of Winners Road, Ile-Ife, Osun State, faces several challenges despite its advantageous location. Despite being strategically positioned in a bustling neighborhood, the bakery encounters difficulties that hinder its full potential for success.
One significant issue is the limited operating hours, as the bakery currently operates from 8 am to 8 pm daily, excluding Sundays. This restricted timeframe may result in missed opportunities to cater to potential customers who prefer to purchase baked goods outside of traditional working hours or during weekends.
Another challenge is the lack of variety in product offerings. While the bakery sells loaf bread, sliced bread, and wheat bread, it may struggle to attract a diverse customer base without offering a broader range of baked goods, such as pastries, cakes, or specialty items. This limited selection could lead to decreased customer satisfaction and potentially lower revenue streams.
Furthermore, despite its prime location within the Winners Chapel neighborhood, the bakery may face stiff competition from nearby bakeries or convenience stores that offer similar products. Without a distinctive value proposition or competitive pricing strategy, PATILAD Bakery and Confectionaries may find it challenging to differentiate itself and attract loyal customers in a saturated market.
To address these challenges and unlock the full potential of PATILAD Bakery and Confectionaries, several strategic initiatives can be implemented:
- Extended Operating Hours: By extending its operating hours beyond the current 8 am to 8 pm timeframe, the bakery can cater to a broader customer base, including those who prefer to purchase baked goods during early morning hours or late evenings. This expansion of operating hours can increase revenue opportunities and enhance customer convenience, thereby driving business growth.
- Diversification of Product Offerings: Introducing a wider variety of baked goods, including pastries, cakes, cookies, and specialty items, can attract new customers and encourage repeat business. By offering a diverse range of products, PATILAD Bakery and Confectionaries can cater to different consumer preferences and occasions, thereby increasing its appeal and competitiveness in the market.
- Differentiation and Branding: Developing a distinctive brand identity and value proposition can help PATILAD Bakery and Confectionaries stand out from competitors. This may involve highlighting unique selling points such as locally sourced ingredients, artisanal baking techniques, or personalized customer service. By effectively communicating its brand story and values, the bakery can cultivate a loyal customer base and foster brand loyalty.
- Marketing and Promotions: Implementing targeted marketing campaigns and promotions can raise awareness of PATILAD Bakery and Confectionaries within the local community and attract new customers. This may include advertising through social media, local newspapers, or community events, as well as offering discounts, loyalty programs, or special promotions to incentivize purchases and drive foot traffic to the bakery.
- Customer Experience Enhancement: Improving the overall customer experience, from the moment of entry into the bakery to the purchase and consumption of baked goods, can foster customer satisfaction and loyalty. This may involve investing in staff training to deliver exceptional service, maintaining a clean and inviting storefront, and soliciting feedback from customers to continually improve products and services.
PATILAD Bakery and Confectionaries aims to be a cornerstone in our community creating a neighborhood atmosphere where customers feel comfortable and become instant regulars. We are sensitive to the often-over-looked population of allergy sufferers and cater to their needs for healthy, delicious baked goods. We seek fair and responsible profit, enough to keep the company financially healthy for the long term and to fairly compensate owners and investors for their money and risk.
PATILAD Bakery offers a wide range of exciting products. They include:
- Slice bread,
- Loaf Bread, and
- Wheat Bread
- Special Bread such as: Sandwich Bread, Chocolate spread, English Muffins, Honey Sandwich Bread, Hard Crust Bread, Sardine bread etc.
- To establish a working storefront for PATILAD Bakery and Confectioneries.
- To develop the strong presence in the community needed to support sales goals.
- To develop a full menu by the end of the third quarter.
Dayo Adetiloye is the founder of PATILAD Bakery and Confectioneries. He brings to the bakery his experience as a baker and as an entrepreneur. She has worked as a baker for over 5 years including two years as an apprentice in a bakery. His duties at the bakery will include employee hiring and training, head baker and store management.
Jumobi Oyebade run his own successful financial consulting firm for 10 years. His duties will include the bookkeeping, inventory management and stock fulfillment.
Tolu Oyebiyi runs his own PR Company and will be assisting the Karina bakery and confectioneries in its marketing campaigns on a part-time basis.
Funmi Olanlawon has worked as a baker for over four years and will be the assistant baker. His responsibilities will also include the management of the bakery shopping list.
Once the bakery becomes established and operational direct labor of eight employees will be hired to boost our production capacity.
7.0 Financial Plan
The following sections will outline important financial assumptions.
Currently Nigeria is officially in recession. However, we do not believe that our business will be unduly affected. Since our products are ones that help contribute to and maintain good health, we believe that people will continue to buy our products. We are operating in a niche market, and in addition, the price of our breads although within the range of traditional bakeries they are not positioned as expensive, luxury items.
will reach about N12,589,640 in the 1st year of operation.
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