The Executive Summary

From research and observation there appears to be a gap in the market for Caribbean fresh baked products with an element of organic edge in the area of Nottinghamton. The increase in population of Caribbean immigrants has led to high demands for these products. In order to fill this gap, the proposal is to establish a new bakery on Nottinghamton high street providing a variety of products to cater for consumers needs. The most important reason for setting up the business derived from primary evidence from potential consumers that thought that it was a good idea.

Setting up a bakery has been both my dream since years spent at university. The company will be managed on a partnership basis. Hence, the decision of setting-up the Home from Home bakery together with Ann Anderson, my university colleague.

Home from Home’s promotional mix will consist of both above and below the line promotions. Above the line promotions are the best to communicate as the business is just starting out, activities involved in such promoting will include leaflets- (these will be dropped through doors), posters- (these will be in shop windows), and (the local newspapers) which are all fairly affordable. The management team will produce the posters and leaflets, as previous acquired knowledge of design is available. The main adverting will be done on the radio through Choice FM; as this reaches targeted audience and is low cost. A sample of the products will be available to the customer as a way of educating them on Caribbean baking. The business will also use word of mouth and on the packaging promotion as these are both effective and low cost.

Cost breakdown:

Radio advertising $ 2000.00 for the first 3 months

Posters & leaflets $ 300.00 for the first 3 months

Newspapers $ 1500.00 one-off

Once the business is established, the Internet will be used, as a promotional tool with additional advertising in the store and on the bakery van.

The objectives of these promotions are to:

Tell potential customers of the existence of the bakery and its products.
To encourage consumers to buy the products
To think about retaining customers therefore encouraging repeat purchases

The business strategy will focus on serving the market with quality goods. It is determine to be part of the community and so to achieve these goals the business will provide the following:

Friendly atmosphere
Quality baked fresh goods so every one will enjoy at a fair price
Clean surrounding
Money back guarantee for unsatisfactory goods

The Mission Statement

The Bakery’s aims are to:

Be a base in the community, creating a neighbourhood atmosphere where customers feel comfortable and become instant regulars.
Provide healthy delicious baked Caribbean goods around Nottinghamton as this need has been realised.
Seek fair and responsible profit, enough to keep the company financially stable for the long term.
Pay owners and investors for their money and risk.