Mini bakery report

HONG BANG INTERNATIONAL UNIVERSITY Business Administration Department Mini Bakery Report Submitted by: Trần Thị Thục Như Bùi Quốc Anh Lecturer: Master Nguyen An Phu January, 2023 Project Introduction Based on individual preferences in addition to the contemporary desires of young people, our bakery was established Young people nowadays have different demands and tastes, and they appreciate visiting new locations and eating delectable desserts that can be found on Social Life We thus made the decision to invest in a croissant bakery Because it is simple to eat and easy to hold in your hand, this Austrian cake is well-known throughout Europe, whether it is in the morning or after a long day of work or study Additionally, the bakery will provide a range of croissant varieties, including four: Matcha, Choco, Ice Mango, and Passion Fruit Original Croissant, giving consumers a variety of options to suit their tastes Since this is a takeaway bakery, we have intended to select a location where a lot of foreigners congregate and where young people hang out After looking at many areas, including those in the city's core, we decided on Thao Dien Ward, District On weekends, there are a lot of young people hang out with friends and they often come Thao Dien Ward to practice English with foreigners who living there Bakeries have short-, medium-, and long-term aims In the near term, our attention is on cake quality Each batch of baked goods must be consistent and of a high caliber, not only in terms of quality but also in terms of well-chosen decorations in order to attract clients We always seek consumer feedback in order to deliver the best cakes that suitable for consumers We especially target the initial medium-term most well-known Target consumers because this is a tiny and new bakery, so few people will be aware of it We plan to focus in the customers who living near our store with a radius of 2km in the medium-term In order to reach our target audience, we have developed marketing strategies that will help the brand name become well-known Additionally, we brand the bakery so that customers may learn about its history Finally, we will complete the return of the initial capital invested, initial investment (initial capital, capital investment) which is the bakery's long-term aim To achieve the bakery's long-term objectives, those in charge of the operation anticipate that we will have a great deal of business expertise From the moment the project was developed throughout the building phase until it was finished and the bakery went into operation, we made the decision to directly operate the bakery ourselves We anticipate starting construction in three months and testing the bakery within six months We put 400,000,000 VND into this bakery because we believe it to be the most appropriate sum to put into a bakery Business Process We came to the conclusion that the bakery only offered five flavors: Matcha, Choco, Ice Mango, Passion Fruit, and the essential croissant original And we suggest that each type of cake cost 30,000 VND for the original croissant and 35,000 VND for flavored cakes We chose to set the pricing to fit the budget after carefully observing the market of bakeries in District with costs ranging from 30,000 to 50,000 VND per unit We have chosen the tools and ingredients for our bakery in order to create delectable and distinctive cakes for our clients Appliance Price Bakery Cabinet 17.000.000 VNĐ Toster Dough beater cake trays flour rolling plants Cake cutter semi-cool Ice cream catcher Small paper box 19.000.000 VNĐ 10.900.000 VNĐ 4.500.000 VNĐ 230.000 VNĐ 76.000 VNĐ 23.500.000 VNĐ 46.000 VNĐ 6.000 VNĐ large paper box paper bags 2.800 VNĐ 7.300 VNĐ We will import flour from Ngoc Thuy Co., Ltd., a flour dealer that specializes in flour, including green and red key flour In addition, we will have yeast and butter to bake cakes Regarding cakes that contain milk, flavorings (such as matcha powder, chocolate, mango, and passion fruit), cheese cream, and cake decorations All of them are equipment and supplies for the bakery Material Price Wheat flour 16.000/1kg Butter 54.000/1kg Egges 20.900/ 10 Sugar 14.280/1kg Milk 150.000/1lít Baking powder 76.000/1kg Cheese cream 169/1L Matcha powder 173.000/1kg Passion fruit jam 1.755.000/5kg Chocolate 75.000/1kg Mango jam 420.000/2kg Cake decorations 147.000/1kg Resource Our modest bakery is a haven for croissant lovers and operates on the takeaway concept Therefore, we made the decision to recruit two employees We'll be hiring two people who can bake cakes, love to bake, and are willing to learn We will have a two-month probationary period and training period for new hires before they start working at the business Moreover, we will impart our cake recipes to as many of our pure employees as we can, as a pure workforce will facilitate faster baking Additionally, we will train staff members on how to interact with and service clients so that they will know how to act in a variety of scenarios Since consumers are now crucial to your store's service philosophy and will decide whether to return, how you serve and treat them matters while conducting business The quality of the cake as well as the level of care given to each customer Bonuses and lunches will be included in our workers' monthly compensation After two months of probation and official employment, the employee will get a salary of 5,000,000 VND Additionally, each employee must pay a VND 1,000,000 lunch cost, in addition to a VND 1,000,000 monthly incentive Additionally, two staff will each receive an equal part of the money from consumers Each employee receives a monthly wage of at least 7,000,000 VND Marketing Research Target marketing Young customers, office professionals, and foreigners are our main target categories We concentrate on the young client category since this is a European cake and young people nowadays often have new foods that are exquisite, elegant, and delicious Additionally, the international client group is crucial because the business is in District 2, where many foreigners reside and work Since croissants are conveniently positioned near these residents, this is a potential market Businesses in District can typically swing by the bakery around midday or in the afternoon to buy food for the workplace Industry competitors We are crucial to the bakery's reputation, therefore in addition to having a distinctive flavor, our cakes also feature eye-catching decorations Every time a consumer takes a photo and uploads it to social media, our cakes contribute to the post's aesthetic appeal This is another aspect of our competitive advantage over other bakeries; although they all invest in original croissant cakes priced between VND 40,000 and VND 45,000 per piece, we stand out from the competition by offering a variety of flavors to suit the tastes of our clients Additionally, we'll give a free one cross-country cake when consumers purchase combinations Project Management Organization Product supply: We believe that the hours from 11am and 9.30 p.m are the ideal times to operate our bakery Because we will have plenty of time in the morning to thoroughly prepare for the cakes to reach consumers Additionally, District residents enjoy eating their main sessions, so this cake is appropriate for them as well Additionally, we integrate with food delivery apps like Grab, Shoppe, Gojek, etc We desire for our busy or far-off clients to nonetheless enjoy our baked cakes Store design: Because our company is a bakery, it was important to us while establishing the store to make it so that consumers could choose from a variety of cakes Because we want clients to contribute to environmental protection when using the service and cake, the idea of the shop is Classic themed but still focused on nature Our color scheme for the bakery was mostly beige and dark green, which created a cozy atmosphere When a consumer first enters, they will see the bakery on the left side, where there is a consultant and place their order Customers will be able to immediately observe the bakery's kitchen as it performs each step of the baking process inside Benches are just across from Casher and the bakery, where customers may wait for cakes or shippers can sit Additionally, consumers will be able to get free filtered water nearby Just enough seats should be available in the bakery so that clients may wait while their croissants are being baked Marketing Our bakery will use Facebook and Instagram advertisements on social media sites, as well as paying bloggers to create articles and tiktokers to write reviews We provide a budget of 2,000,000VND for Facebook and Instagram advertising Because everyone and a lot of people in Vietnam now utilize this platform, we will run advertising on a monthly basis to reach viewers as rapidly as feasible Budget is $1,000,000 for persons, and we will hire food bloggers that can connect with readers and help them picture the croissant and flavor of the cake In addition, we will engage persons and 2,000,000 VND/4 tiktokers to create brief video evaluations of the bakery Business Efficiency Our mini bakery store has some efficiencies which generate a lot of profit for both Vietnamese people and Vietnamese government in economy and life The first profit is about increasing the Vietnam economy growth by doing business in Vietnam and developing the GDP rate in hiring people to work for us Moreover, we also pay the business tax in the months that we generate our business and after the business is going on well, we will continue to open the business and pay tax every month which is about 20% each month These actions increase the government budget for helping the country or people in the future The second profit is about upgrading the standard of Vietnamese people by creating jobs for them such as students, unemployed citizens after covid 19 happening, it also reduces the amount of jobs which is about 30 to 40% in every company or organizations which many companies have to reduce to keep the business can be continued to open Therefore, our business help both sides between Vietnamese people and Vietnamese government which increase the standard of living and the level of GDP or economy in Vietnam Financial Plan The total of opening the mini bakery store is about 400 million Vietnam dong for months of doing business, which is used for the whole process of doing this business This amount of money is considered in buying materials for the bakery, the bakery machine, the decoration for the mini store, the depreciation and the business tax This bakery business is just a six month trial business for us to test the market and if our products can fit the customers and the bakery market in District After that, if the business is going well, we can continue to business and open more stores in other districts in Ho Chi Minh city Because we hire a place in district 2, so, the price of hiring is 10 million vietnam dong and it is higher than other places in Ho Chi Minh city We only hire a year so the contract will not have a 10% interest rate in the hiring place About employees, we hired two people for selling and baking with million Vietnam dong as a good salary for employees from the beginning After the business is going well, we will negoiate with the employees for the working contract and long term working and development This is the revenue and the expense of our six month trial of bakery business The revenue is 105 million Vietnam dong as we sale in total everyday about 100 cakes everyday and in total which is 3000 cakes every month And after minus taxes and depriciation and total expense every month such as material and employees salaries, we have the benefit which is 54.4 million Vietnam dong in total This is quite good revenue which will be the capital recovery in months in doing the bakery business The total of our months doing the bakery business is 324.6 million Vietnam dong which already minus taxes, expenses and depreciation every month until months of doing the bakery business Risk Management There are six main ideas about risk management in the bakery business The first risk is that material prices will increase about to % each year based on inflation The second risk is about the competitors which are Papparoti bakery stores because they already open stores in Ho Chi Minh city The third risk is about the business plan which must be developed every year which can be suitable for the market The fourth risk is about customer service because the employees must be well trained about the knowledge and the behavior for the best service to customers The fifth risk is about the place increasing which is about to 10% each year And finally about the salary and the profit of the employees in the future Time Management Activity Jobs Time A Hiring Place B Buying Machine A C Decoration B D Hiring Employees C E Buying Materials D F Doing Marketing and Business E Reference Activity First https://dienmaybigstar.com/lo-nuong-banh-mi-cong-nghiep-hiennay-gia-bao-nhieu/ https://technologyadvice.com/blog/information-technology/4-riskmanagement-considerations-for-your-project/ https://luathoangsa.vn/muc-thue-thu-nhap-doanh-nghiep-hien-nayla-bao-nhieu-nd87890.html