Summary of Business Plan
This week you are taking the most important parts of your business plan and condensing them to a one page document for review. This information will be used to help us assess your progress so far, and how we can best support your business. After you have finished answering each of these questions in no more than three sentences, please share with your mentor and in the community page - https://community.tefconnect.com/t/summary-of-business-plan-activity-for-week-12/
What is the problem you are solving?
Substandard cakes and high cost of making cakes.
How does your solution create and capture value?
Richico Catering aim to offer its products at a competitive price to meet the demand of the middle to higher income local market area residents.
Why is your solution better than everything else?
People buy from us because of the following reasons:
• High quality, fluffy, nutritional, and unusual flavoured cakes.
• All year round available of our customers’ choicest cakes.
• Freshly baked products and unique recipes.
• Excellent customer care services.
• Fair and best possible prices and discount offers
Who exactly is your customer?
Children.Adults.Celebrities. Corporate organizations.Country clubs.
How much is your customer willing to pay?
Cup cakes ------ #100
Big cakes------- #7000
How will you reach your customers?
- Social media platforms such as watsapp, Facebook, Instagram, Twitter
- Website and Email
- Radio/Tv advertisement
- Physical walk-in store
Who do you need to help you create this business?
- Business development manager
- Marketing manager
- IT manager
- An accountant
- Angel investors
What can you do to rapidly scale up production?
- To acquire more equipments for cake making
- Increase my customer base
Why will the necessary individuals help you scale up your business?
To expand the business so as to get profits, equity, referrals, shares, salaries, wages and compensation.
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