Professional Documents
Culture Documents
Business Plan (ENT300)
Business Plan (ENT300)
FUNDAMENTALS OF ENTREPRENEURSHIP
BUSINESS PLAN
SO YUMMY ENTERPRISE
PREPARED BY:
PREPARED FOR:
LECTURER’S NAME : AZLI BIN UMAR
SEMESTER : MARCH - JULY 2020
SUBMISSION DATE : 26th JUNE 2020
TABLE OF CONTENTS
BUSINESS PLAN
INDIVIDUAL REPORT
Student should be able to demonstrate entrepreneurial skills in preparing a business plan (CLO3-A3)
• Cover & Title Page Poor presentation on Moderate presentation Satisfactory presentation Good presentation on Excellent presentation
• Table of Contents 5 the preliminary on the preliminary on the preliminary the preliminary materials on the preliminary
5 materials materials materials materials
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Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Introduction: Business 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
Description
10 Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Owners 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
Description/Business
Partners 10 Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Product/Service 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
Description
10 Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Marketing Plan 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
10 Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Organizational Plan 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
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Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Operational Plan 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
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Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Financial Plan 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
10 Many key elements Few key elements are Key elements are fairly Key elements are Key elements are
are not highlighted highlighted highlighted correctly highlighted excellently highlighted
Appendices 0 – 2 marks 3 – 4 marks 5 – 6 marks 7 – 8 marks 9 – 10 marks
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Poor appendices Moderate appendices Satisfactory Good appendices Excellent appendices
appendices
Total 100
Comment:
Executive Summary
Next, So Yummy cakery expects to catch the interest of potential customers by the
attractive, minimalist, and aesthetic-look cakes that they made. It allows this cake to be one
of the marketable products as people love simple things especially food. They also plan to
build a strong market position in the market area. So Yummy cakery is located at No 7,
Jalan Elektron U16/D, Denai Alam, 47000, Shah Alam, Selangor. They assumed that 5%
of the total population in Selangor which is 6,528.4 will purchase their cakes. The market
potential for cakes in Selangor may be worth RM3,000,000.00 in 2021.
To organize and manage the manufacture, market, and selling process, So Yummy
Enterprise will create a standard operating procedure (SOP) as a guide for all the staff to
follow in order to produce high-quality cakes that also safe for consumption and not
harmful according to Syariah law. For marketing, So Yummy Enterprise has its own plan
to promote their products and services, they will use each plan times to times based on the
current promoting trend. In the selling process, they will sell their products through their
business outlet, online, and delivery service by the Grab Food MY and Food Panda. They
also produce cakes based on the current demands of their customers to ensure all the cake
sold within a week.
The total amount of money needed in opening and achieving this business plan is about
RM70,000. So Yummy Enterprise also expects to get about RM2,600,000.00 as their first-
year profit.
i
1.0 Introduction
So Yummy Enterprise is located at No 7, Jalan Elektron U16/D, Denai Alam, 47000, Shah
Alam, Selangor (E-Boulevard). This bakery is a business that produces and serves the high
quality of halal fresh-baked cakes products that established on 1st October 2021. So
Yummy provides various types of cakes from different flavors with the aesthetics designs.
Factors that influenced me in selecting this business are the market segmentation. This is
because there are lots of high-income groups of Malay staying in Denai Alam. So I can sell
my high-quality of halal cakes a little pricey and get high profit. Besides, there is only one
bakery opened at E-Boulevard that owned by a Chinese. Therefore, they will choose a
bakery owned by Malay compared to the bakery owned by a Chinese.
The location was very strategic and easy for my potential customers to locate my cakery
as it is near to the residential and business area. There are also well-known fast food stores
there like McDonald's, KFC, and Pizza Hut around. So Yummy is located beside the main
road so my customers do not need to travel far to come to the bakery.
In future, believe that So Yummy will be the first choice of my target customers and have
my own regular and loyal customers that will always choose my products.
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1.1 Purpose of Business Plan
A business plan is the first step before starting a business. It is very important and it helps
to maintain the business to stay longer in the market.
• Act as guidelines to plan, manage, and handle the business effectively and
efficiently.
• As evidence to prove the ability of the business to get loan approval from any
financial institution.
• To convince the supplier about the capability of the business to earn the profit that
can benefit both sides in a long term agreement.
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1.2 Business Description and Owner Description
Business Description
Name of Business So Yummy Enterprise
Business Address No 7, Jalan Elektron U16/D, Denai Alam, 47000,
Shah Alam, Selangor.
Correspondence Address M1-G-11, Merak Apt, Jln Uranus, U5/125, Seksyen
U5, 40150, Shah Alam, Selangor.
Telephone No. 019-XXXXXXX
Form of Business Sole proprietorship
Main Activity Provide a high quality of halal cakes products
freshly baked from the oven.
Date of Commencement 1 November 2021
Date of Registration 1 October 2021
Name of Bank Bank Islam
Business Location This is a freehold ground floor shop lot located in
E-Boulevard Taman Denai Alam U16, Shah Alam.
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The size of this land unit was approximately 22x75
and built-up 1650 square feet. This shop is not
facing any shop lot and has ample parking. The
neighboring township is Bukit Subang, Bukit
Jelutong, Subang Bestari, Subang Perdana, Kota
Damansara, Subang Permai, Monterez Golf Club,
and accessible via Guthrie Highway and Jalan
Sungai Buloh. This shop location also only 10
minutes away to Subang Airport, Kg. Subang
Commercial Center, 15 minutes to Shah Alam
Town Centre, 20 minutes to MRT station, Kota
Damansara and Mutiara Damansara.
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Owner Description
Name Umairah Binti Khairi
Permanent Address M1-G-11, Merak Apt, Jln Uranus, U5/125, Seksyen U5,
40150, Shah Alam, Selangor.
Correspondence Address M1-G-11, Merak Apt, Jln Uranus, U5/125, Seksyen U5,
40150, Shah Alam, Selangor.
Age 20
Previous Business -
Capital RM70,000
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2.0 Marketing Plan
2.1 Product/Service Description
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Minimalist-Look Cake Aesthetic-Look Cake
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2.2 Marketing objectives
• To ensure our customers satisfied with the taste and quality of our cakes.
• To compete healthily with our competitors and improving our product quality to be
better than them.
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2.3 Target Market
The target market is defined as the end consumer which the company wants to sell or supply
its services or products and satisfied their wants and needs. For So Yummy Bakery, we
have identified our specific target market customer that we want to fulfill their demands
and we assume will bring high profits for us. With a clear target customer, it is much easier
for us to define where and how to market our business. But it does not mean that we are
only focusing on our specific target customers and ignore others that are not in our target
because the other consumers are our secondary market and also could increase our business
profit.
Our main target market is Muslim adults because all Muslims want halal cakes that do not
consist of haram ingredients like alcohol in their cakes and we focusing more on adults
because the price that we are offering and they usually afford to buy our cakes as a birthday,
wedding, souvenirs, gifts, engagement, and other purposes. However, we already have
divided our target market based on these three market segmentations, which are
geographic, demographic, and psychographic. Market segmentation is an action of
dividing a large group of consumers that commonly consisting of existing and potential
customers, into sub-groups of consumers according to some type of shared characteristics,
such as age, ethnicity, income, gender, personality traits, or behavior.
Geographic segmentation is when a company divides its market based on geography. This
segment can be divided into areas, such as cities, counties, regions, countries, and
international regions. It also can be divided into rural, suburban, and urban areas. For So
Yummy Bakery, No 7, Jalan Elektron U16/D, Denai Alam, 47000, Shah Alam, Selangor
is my chosen location for our bakery. It can be assumed as developed districts around our
business location as there are many amenities nearby included Mcdonald's, KFC, Pizza
Hut, Bank Islam, Affin Bank, restaurants, clinics, kindergartens, and many more. This
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location also easy to via Guthrie Highway and Jalan Sungai Buloh. This shop location also
only 10 minutes away to Subang Airport, Kg. Subang Commercial Center, 15 minutes to
Shah Alam Town Centre, 20 minutes to MRT station, Kota Damansara and Mutiara
Damansara. The neighboring township is Bukit Subang, Bukit Jelutong, Subang Bestari,
Subang Perdana, Kota Damansara, Subang Permai, and Monterez Golf Club.
Next, demographic segmentation. This market segmentation can be divided into age,
gender, occupations, health conditions, family size, social class, education, income, and so
on. This kind of segmentation helps us to classify the trend that might shape future
spending patterns in the target market. Our bakery is located in a developed district where
the customers came from the high-income group. Our cakes are suitable to consume for all
range of ages but we are focusing more on adults to buy our cake and it is no matter the
gender either female or male as long as they afford to buy.
Lastly, psychographic segmentation where it divides the market into groups upon the
customers' personality traits, lifestyle, interests, and so on. Since our target market is
focusing on adults so we need the most important factors that we must give more attention
to because it can affect our target which also will affect our business profit. Nowadays,
people choosing cakes by observing the uniqueness, attractiveness, and appearance, more
than the taste itself. However, our bakery is produced cakes that have minimalist and
aesthetic-look as our signature design with great taste chosen by our customers to fulfill
our customers' desire which is they want great looking cakes with great taste and reasonable
price. As we know, we are also competing with another bakery that also selling customize
cakes and pastries. So, the minimalist and aesthetic-look cakes design is our main attraction
and uniqueness to attract our customers to bought cakes from us. Because of this reason,
we use only the best qualities of halal ingredients in making our cakes. Besides, we also
provide the best delivery services at a reasonable charge. All these factors are necessary to
ensure that our customers are satisfied and happy with our cakes and services.
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Demographic Base (Age) Population (%) Total Population
20 – 29 years old 20 1,212.5
30 – 39 years old 30 1,347.5
40 – 49 years old 10 853.4
Others 40 3,115.0
Total 6,528.4
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2.4 Market Size
Market size can be defined as the number of people in a particular market segment who are
the potential customers. Our cakery is located in Denai Alam, Selangor. I decided to choose
Selangor as our business location because it has a high population and therefore could lead
to more potential customers noticing our cakery. We believe that this is a good location as
a fresh start for our cakery. We assume that 5% of the total population in Selangor which
is 6,528.4 will purchase our cakes.
6,528.4 x 5% = 326
We assume that 326 people, 5% of that value will purchase or order our cakes every day.
The average price of a ready-made cake is RM100.
RM100 x 10 = RM1000
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2.5 Market Share
Market share can be defined as the percent of total sales in an industry or a market's total
sales earned by a specific company.
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2.6 Sales Forecast
Sales forecasting is the process of estimating what are the business’s sales are going to be
in the future. The purpose of sales forecasting is to provide information for a company that
can be used to make a business decision and prediction in a long term or a short term
performance. A sales forecast period can be monthly, quarterly, half – annually, or
annually.
Sales forecast helps So Yummy Cakery to predict achievable sales profit and plan the
business's future growth. We are allowing the customers to customize their cakes within
the range price based on the design. But the standard price for ready-made cake is RM100.
Sales forecast is computed annually for the first, second and third year.
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2.7 Marketing Strategy
• Brand
Our cakes brand is "So Yummy" which refers to the delicious taste of the cakes that we
baked. Just by recognizing our brand name, people will know that we are producing a fresh
baked and tasty cake with a modern design. Besides, our brand motto is "It taste rainbow
in every bite" which means every time our customers eat our cake, they will experience a
new fresh flavor that we used to bake the cake that makes our cake is the best cake under
the sky as it is unspeakably delicious.
• Quality
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• Packaging
The main purpose of packaging is to protect the product during the process of
transportation, storage, display, and sales. Since our cakes are going to be served occasional
events, wedding ceremonies, parties, etc, packaging protection is vital during the delivery
process of our cakes to the event venue or for take-away by our customers. We chose a
brown window paper cake box with craft jute rope as our packaging because it looks
simple, nice, easy to handle, and not fragile. Besides, every product has its own identities
and specialties to attract their target customers. The box's purpose is to ensure the cake
arrives in good condition for the customers. It also makes the cake can be stored in good
condition for a long period in the fridge and can protect the cake from any insects. At the
same time, good packaging can create instant recognition of the product.
• Labeling
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2.7.2 Price Strategy
The price of a product or a service can be defined as the value of money charged to the
customers for their purchases. The price for a particular product or service depends on how
much money the company wants to make from a product, how much they can sell, and
what is the market share that they will get.
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There are three pricing strategies that a company needs to choose either cost-based pricing,
value-based pricing, and competition-based pricing. Each one of these strategies has its
advantages and disadvantages according to the product or service that they offered. For our
cakery, we decided to use the cost-based pricing strategy.
Example of cost-based pricing, where a company wants to ensure that its products make
an extra profit on top of the unit cost of production:
A place is essential as the location where the product is produced and always available for
the customers to purchase at the right location and at the right time. It is very important for
the availability of the products when the customers come into the business outlet to
purchase the product without any issue. Place includes any physical shops or virtual shops
on the Internet (online). A place can be considered as a distribution channel. For our cakery,
we are manufacture which is baked our cakes and selling it on our own without any
intermediaries. Thus, the distribution channel for our cakery is from manufacturing directly
to the customers. Selling cakes directly to the customers is a good way to satisfy their
demand because they having many choices and get fresh-baked cakes from us.
A promotion strategy is created for marketers to inform, persuade, or remind their target
customers about their products or services. This strategy represents all of the
communications that marketers may use in the marketplace. The promotion has a few
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important elements such as advertising, direct marketing, public relations, personal selling,
and sales promotion.
• Advertising
One of the commonly used elements of the promotion strategy is advertising. This includes
any paid form of media communication with a clear sponsor. Advertising platforms are
television, radio, billboards, newspapers, magazines, and online. On the internet, there are
few categories for types of ads include text, search, banner, social media, and remarketing.
➢ Newspapers/Magazines
This is one of our promotion strategies for introducing our cakery to our potential
customers. Newspapers and magazines work in transferring our business information to
our potential customers in our marketplace. In these platforms, we will advertise our best-
selling cakes and put our business contact details such as our phone number, business outlet
address, and our social media username. We will choose the hot selling newspaper and
magazines in our marketplace to minimize the cost and reduce the waste of advertising
useless promotions.
➢ Online
Online selling is essential nowadays because it is the easiest way to buy something.
Everyone can purchase anything that they want just by access to the internet. The online
platforms that we use are Instagram, Twitter, Facebook, Whatsapp, and our official
website. In our social networking sites like Instagram, Twitter, Facebook, and the official
website, we will put information about our cakes such as types of cake's flavor, color,
design, price range, slot, or date that we are able to make their cakes and some information
about our cakery. While Whatsapp is used for our customers to communicate and discuss
with us about their customize cakes and do their cakes booking or orders. We also will
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promote our cakery through Instagram and Facebook ads to attract many customers as we
can.
The signboard is also one of the mediums for us to introduce our cakery, especially for our
business outlet at Denai Alam. It is very important for us to put the signboard directly in
front of our business building to helps our customers to recognize our cakery and at the
same time to inform people that pass by where we are and what are the services and
products that we are producing. For the banners, we will design by ourselves to cut the cost
and locate our banners at the main locations where people always come or pass by. The
total of the banners is around six depends on how many places we want to locate them.
➢ Business Cards
For the purpose of the marketing of our products, we decided to make our own business
card that consists of information about our business outlet location, contact number, social
media username, and our official website. This business card used to give to our potential
customers and it can help us to attract many new customers and also help our business to
expand bigger from time to time. By doing this, our potential customers out there can
acknowledge our cakery presence and will come to try our cakes. They also can directly
contact us through any platform that we state on the business card.
• Sales promotions
This are marketing activities that give prospects with an encouragement to buy by adding
value to the product. Commonly used sales promotional tools are discounts, gifts, contests,
premiums, coupons, and rebates. These promotions tools are often used to build loyalty
among existing customers and offer new customers a low-risk reason to purchase. For So
Yummy Cakery, we chose discounts and gifts as our sales promotions tools. Discounts
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work for any cakes purchases worth RM200 and we will give RM20 discounts. Next, buy
one of our selected ready-made cake and get the second cake for half price every
Wednesday. Then, get a 50% discount on any cake purchase on our cakery anniversary for
3 days straight. Lastly, for every wedding cake purchase worth RM350, we will give a
medium-size regular vanilla cake for free.
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3.0 Operational Plan
3.1 Process Planning
• Chocolate Cake
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➢ Chocolate Buttercream Frosting
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• Vanilla Cake
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➢ Vanilla Buttercream Frosting
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• Red Velvet Cake
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➢ Cream Cheese Frosting
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• Carrot Cake
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• Rainbow Layer Cake
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3.2 Material Planning
3.2.1 Bill of materials
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Carrot 500g 1.69
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3.2.2 Quantity of raw materials required
Total quantity of raw materials required for 5 types of 5 pieces standard size cakes are
RM204.15, per day.
Total for a month is RM6,124.50.
Total for a year is RM73,494.00.
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3.3 Machines and Equipment Planning
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3.4 Overheads Requirement
Day Time
Tuesday - Sunday 10:00a.m. – 9:00p.m.
Monday Close
Day Time
Tuesday - Sunday 9:00a.m. – 10:00p.m.
Monday OFF
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4.0 Organizational Plan
4.1 Introduction to the Organization
Title Descriptions
We use a piece of cake as a symbol to inform our potential
A piece of cake customers that our main activity is producing and selling
cakes.
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"So Yummy" is our chosen cakery name that refers to the
“So Yummy"
delicious taste of the cakes that we produce.
"Cakery" stands for "cake shop" and it means we are not
“Cakery” selling pastries good like a regular bakery and focusing only
on cakes producing.
We chose pastel color as the symbol of softness in our cake's
Colors
quality and aesthetic-look design as our signature.
General Manager
(UMAIRAH BINTI KHAIRI)
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• Plan and ensure the company's mission, vision,
and objectives achieve according to the plan.
• Acts as a decision-maker and cooperate with
other staff to gain ideas to improve the business.
• Carry out an interview for all staff and to
evaluate their performance.
• Handling staff salary.
• Concern about staff welfare.
Admin Manager • Plan and ensure the administration system
becomes efficient and effective.
• Help the general manager manage and plan
systematic management.
• Arrange all the personnel administration plan.
• Create new marketing strategies to promote the
company's image, products, and services.
• Consistent in promoting the company's business
to reach the objectives and increasing the
number of sales.
Marketing manager
• Do observation in finding the strategic location
to expend the branches.
• Prepared the marketing analysis, identify the
target market, and find the proper strategy to be
used.
• Ensure the company achieved the set standard.
• Ensure the flow stock runs smoothly without
any shortage in the supply stock.
• Ensure the quality of the products produced.
Operations manager
• Ensure all the staff able to provide good service
to the customers.
• Do research to reach a higher level of customers
satisfied with their wants and needs.
• Manage all financial management.
• Ensure the business is financially stable.
• Control and record the money cash flow in the
company.
• Prepared cash flow, trading profit, loss account,
Financial manager
and the balance sheet for the company.
• Responsible for the budgeting plan in the
business.
• Handle all the administration, operations, and
marketing expenses.
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4.4.2 Schedule of Remuneration
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Chapter 5.0: Financial Plan
The final step in the business plan is a financial plan. A financial plan is essential in
preparing a business plan. Financial incorporates all financial data derived from the
administration budget, marketing budget, and operational budget. It is also important to
determine whether our business is success or failure. Therefore, a credible financial plan
for the business can demonstrate that it is realistic and has a forward-looking view. The
financial plan consists of an income statement, cash flow projection, and balance sheet.
• To make plan wisely on the expenditure and preventing wastage of raw materials.
• To find out the amount of cost or paid-up capital involves in starting the business.
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5.2 Sources of Financial Information
Two types of budgets can be select as the sources of the financial information are
operational budget and financial budget. In the operation budget sector, they are three sets
of budget involve namely administrative budget, marketing budget, and also operational or
production budget. The financial budget also becomes a source of financial information.
• Project implementation cost – Total costs for the shot and long term period needed
to implement the proposed business
• Projected profit and loss statement – A projected statement which shows the
expected profit or loss throughout the planned period.
• Projected cash flow statement – The pro forma cash flow statement refers to the
projected statement of cash inflow and outflow throughout the planned period.
• Sources of fund – The sources of finance for a new business might come from
internal and external sources.
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5.3 PROJECT IMPLEMENTATION COST
TOTAL 268,170.00
TOTAL 36,510.00
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5.3.3 Operational Budget
TOTAL 102,430.00
Pro forma income statement shows the expected profit or loss for the planned period,
usually for three consecutive years.
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Appendices
Appendix A: Business Model – SO YUMMY ENTERPRISE
Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
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Appendix B: Business Registration Form
45
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References
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cake-recipe-ever/
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B., Says:, R., Says:, A., . . . Says:, K. (2020, May 25). The Best Chocolate Cake
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chocolate-cake-recipe-ever/
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https://addapinch.com/perfect-chocolate-buttercream-frosting-recipe/
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6. Sally, A., & Sally. (2020, June 05). Red Velvet Cake with Cream Cheese
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7. Sally, A., & Sally. (2020, June 17). My Favorite Carrot Cake Recipe. Retrieved
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