Business Plan for Icing Cupcakery
Executive Summary:
Our primary goal is to open our business to fill the gap that lack of deliver cupcake services in schools is order to meet the needs to make students happy. Icing was Even there are many cupcakes company we have the special service and confidence to compete with other target markets. Our bakeries are conveniently locating on college campuses so we can efficiently deliver on time. Additionally, unlike other foods, cupcakes are not smelly to make school administrations bad impressions.
●
Company Description: Our business is a foods business. Our services include making cupcakes, decorating them, and personally delivering them as well. Our targeted customers are college students, as we are trying to establish our business on college campuses throughout the country. Students in college do not have access to many homemade items since they are typically separated from their families. Additionally, actions speak louder than words. Our cupcakes can make a nice impression, act as a thank you gift, and much more. Our cupcakes are always made from scratch, and uniquely decorated. Our customers have the opportunity to fill out an order form so that they have the opportunity to add a personal touch to each cupcake.
●
Market Analysis:
Industry Description: We have already opened stores on a few college campuses. Our stores act as bakeries where our cupcakes are made.
Our Target Market: Our business is fairly new, and we have spread into a few college campuses in Virginia. Over the past 3 years, we have been established in 7 different universities.
Distinguish Characteristics: We do not have one main group of customers; many college students participate in our business. Our customers are looking for something different - and that we have to offer. There will
always be a need to eat, and our product does that in a made-at-home fashion. Size of the Primary target market: According to our market’s size we mainly purchased by the students. Thus our annual purchases is around $
1.2 million dollars, and we are on the pact to gain 27% of sale by next year.
How much of the market share can you gain: Approximately 65% of the consumers are the college students between ages 18-22. Approximately ⅔ of our consumers are students, while the remaining ⅓ are staff.
Pricing and Gross Margin Targets: Our cupcake prices would be
$4.00 for regular sized and $2.50 for mini sized. We make the regular ones for $1, a 25% increase. Additionally, we make the mini sized ones for roughly
$0.63, which is also a 25% increase. For ever 1.000 regular cupcakes sold, we make $3000. For every 1,000 mini cupcakes sold we make roughly $1,870.
Competitive Analysis : Based on the markets around us our market should count as the competitive market because we have advantages to deliver the cupcakes, other cupcake companies haven’t open this services yet. We provide unique, homemade cupcakes and also take reservation to design the cupcakes the way customer wants. Consider about the weakness, our target consumers category aren’t really wide, our business is mostly in the colleges and meet the student’s want. Our target markets are
