Executive Summary of Cake Business Plan in Nigeria.
Patilad Cakes is a start-up company located at Awada, Onitsha. We specialize in homemade cakes and desserts baked from scratch. We are open to discuss whatever ideas you might have for your dream cake. Quality and presentation is our watchword, and we use the finest ingredients to ensure that our cakes and desserts taste and look great. Patilad expects to catch the interest of a regular loyal customer base with its broad variety of cakes and other related products. The company plans to build a strong market position in the town due to the partners’ industry experience and mild competition in the area. Patilad Cakes aim to offer its products at a competitive price to meet the demand of the middle-to higher-income local market area residents.
Patilad Cakes will be established as a limited liability company owned by Temidayo Awofeso and Aliu Aminu. The company will be managed and overseen by Temidayo Awofeso, a first-class caterer of over twenty years whose expertise has been procured by top-notch companies like Hilton hotel, KFC, Mix and Bake but has now decided to work for himself.
The company intends to hire two full-time caterers and three part-time baristas to handle customer service and day to day operations.
To become the leading brand name for accessing varieties of freshly baked cakes and other related products through its excellent low-cost product offering and efficient distribution network and to grow till we become the largest cake industry in Lagos and beyond.
Patilad Cakes mission is to become the premier cake producing industry in Nigeria. This will be accomplished by offering an unprecedented distribution network coupled with great and varied products and reasonable prices and also to provide Onitsha with the tastiest and most fluffy cakes and other products they have seen in recent times.
- To gain target customers and market our new product in Lagos.
- To satisfy the needs of our target market and support our company goals within six months.
- To drive awareness and drive sales through referrals and social media campaigns.
- Attract both residents and workers alike into becoming loyal customers of the establishment.
- To become the premier fast-casual cake industry in every market entered.
- To satisfy our market segment that demands higher quality products and to maintain a steady growth in sales volume that will sustain the company for future years.
- To achieve net profit in year one, increasing in year two, by containing costs and meeting sales goals.
- To provide quality sales service and products at fair and best possible prices.
KEYS TO SUCCESS
- Good retail location in a high-density residential/ business area.
- Hygienic and neat processing facility.
- Outstanding customer service.
Products and Services
Patilad Cakes will offer varieties of breath-taking cakes and unusual flavored cakes ranging from our pound cake, rich fruit cake, light fruit cake, coconut cake, carrot cake, fudgy chocolate cake, red velvet cake, American sponge cake, vanilla cake, swiss roll and so many others, all from the freshest ingredients. We cater for birthdays, engagements, weddings, anniversaries, christenings and any special event you may be celebrating. Our company will provide freshly baked cakes and products all times during business operations. We are committed to seeing your ideas blossom into outstanding cakes, and will work with your budget without compromising on the great quality we are known for.
We will make dessert, ice cream, cupcakes, puddings, pies, cookies and a range of other treats for events as well as personal consumption. We will also include a catering service to deliver large orders for big events such as birthdays and weddings which will provide significant convenience for consumers.
We will also offer cake decorating classes from Wilton, the leading food crafting company in the industry.
The cake industry in Awada, Onitsha has recently experienced rapid growth. Customers have become accustomed to the supply of unusual speciality cakes of high standard, and Patilad Cakes will position itself to cater for this fastidious market. The local customers are looking for high quality product in a relaxing atmosphere, where they can meet friends and refer family to.
Patilad Cakes wants to establish a large regular customer base, and will therefore concentrate its business and marketing on local residents, which will be the dominant target market. This will establish a healthy, consistent revenue base to ensure stability of the business. In addition, customer traffic is expected to comprise approximately 35% of the revenues. High visibility and competitive products and service are critical to capture this segment of the market.
In the true sense of the word, so many other competitors are in the same town, a couple of other cake companies also exist in the neighbouring towns. Despite the similar business in the area, Patilad Cakes will contain a few beneficial strengths to make it more desirable than its competitors. The central location of our Patilad will be an additional value aspect of the company.
To rise above competitors, Patilad Cakes will offer numerous options to satisfy common health and diet need of consumers. Whether it is required by allergies or simply a choice, a desire for gluten-free, organic, naturally sweetened, reduced-fat and vegan foods has recently grown. By offering cakes which meet these requests, more consumers will feel welcome to our shop because their needs will be recognized and satisfied. Our competitive edge is also in our unique flavours of cakes and recipes. We will invent new flavours and recipes regularly to keep our product offering fun and interesting and to motivate our customers to return to our shop.
Finally, the convenient catering service and the comfortable lounge for customers to relax in as they indulge in their delicious delights will be a major advantage for Patilad Cakes.
Patilad Cakes seeks N3 million in long-term financing to cover start-up costs, equipment, building expenses, and working capital. Funding for the launch of the business will be provided primarily by equity from the partners and investors.
Our market survey and research show that Patilad Cakes holds the promise of reaching positive cash flow in its 12th month of operation. The advantage of this is the provision it makes for accelerated repayment of its loan obligations, as well as for dividends to be paid to the owners.
Revenue is expected to amount to N9,984,326 and profit N592,736 in our first year of operation.
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