“Ireland Assignment Help” provides assignments and samples of business plans to the students of Ireland doing studies in Business Management. Our experts are well versed in the subject and have significant experience in the field. They try their best to give you the quality and plagiarism free work.
So at first let’s start with understanding the Business plan.
What is Business Plan
According to the Entrepreneur Business Plan is a draft which describes the nature of the business, its market strategy with sale projections, financial sustainability, projected profits and losses and the defined purpose with the competitive knowhow or situation of the market. It simply refers to what you plan to do and how you plan it to be executed. It works as a guide for you in your business voyage, which means it is a projected outlook for your business and strategy of its future.
If we take for example a bakery as a start-up, we need to understand why there is a need to make a business plan for the bakery.
Need for a Business plan for BakeryStart-up,
Before starting any business one has to do some back of the envelope calculations of assets and liabilities and the equity or investment needed to start the business. It gives entrepreneurs an idea of the possible outcomes and it can also increase the skill of analysis of possible business fluctuations.
It is needed to be prepared to know the viability of the start-up venture. There will be no feasibility of business if it is not at all profitable. A business plan helps the Entrepreneur to see the possibility of the success of the business. Sometimes it is also needed to get the proper financing through banks or other sponsors or lenders as if it seems profitable only then the investment will fetch up.
A business plan shows all possible analysis of the business as
- Market analysis; tells about the demand of the market and the possibility of the service.
- Competition Analysis; talks about the strength and weaknesses of business in the realm of competition.
- Management and operation plan; depicts the structure of staffing and equipment required, location accessibility, services of related materials required, etc
- Financial plan is about the management of financing as how much investment is required and who are the investors, how much debt or loan to be taken, what can be the possible profit etc.
In short business plan prevents a businessman to waste its energy, resources and time in unviable. However, it is to be updated regularly with the detailed financial forecasting. For example, there is a sample of a business plan for a start-up.
Business plan of a Bakery
Green Door Bakery is a start-up bakery retail establishment located in South East Inner city, Dublin which supposes to hook the interest of inner-city customers with broad variety and good quality baked products. As there are other bakeries too in the vicinity, the Green Door bakery wants to make its feet strong to run their business there.
Green Door Bakery is owned by two cousin brothers named Mr. Connor and Mr. Brody who has studied business management from a university of Ireland. They are expert in marketing and sales management. The green door needs to hire pastry bakers, possible cafes and baristas to handle the customer care service.
Products and Services
Green Door Bakery is targeting to distinguish itself in providing the variety and quality f the baked products. For that, it had planned 6 to 7 batches to assure the supply of fresh-baked products.
Green Door bakery targets to establish its customer base in whole part of the South East inner city of Dublin. The possible customers are local business and local vendors and local residents. In addition, tourists are also being expected to visit. With the presence of other bakeries, it targets competitive prices of the baked products and ensures the timely delivery.
Green Door Bakery expects to raise $70,000 of its own capital, and to borrow $50,000 Therefore the bulk investment is $120,000. It also targets the stability in business by considering sustainable options of funding and cash crunch.
Service Business Analysis
It had bifurcated the products in high demand, low demand and moderate demand products with time analysis. Accordingly, it concentrates on the steady flow of the products with due consideration of the demand cycle. As the bakery products gained rapid growth in demand, despite competition Green Door Bakery targets to achieve a profit of $40,000 yearly. It targets the profit by offering consumers and customers, high-quality products without any compromise.
Mr. Connor has extensive experience in sales, marketing, and management, and is taking the position of vice president of marketing. On the other hand, Brody brings experience in the area of finance and administration and he had also done an internship with big companies in the business of baked products. They targeted to hire enough staff personnel, managers and customer care executives for keeping in mind the rush hours and shortage of labor in the future.
This business plan comes under the lean format of business plan as it does not talk about the lengthy details. There is another format also which is called the traditional format of business plan and talks about the comprehensive details of the business strategy.
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