Did any of you write up a business plan for your cake business?

And, if so, have you followed it? Do you feel it was essential in running your business?

I don't have one but probly should think about one for in the future when I can devote more time and not do it on such a minute scale.

I started writing a business plan. It helped me figure out what I really wanted to focus on in my business. When I found out I was renting a kitchen and not going to get a loan I quit writing the plan.

Every year I do my projected sales goal for every month and my marketing goals. I also write my priorities out on where I plan on spending money. That way it is easy for me to say "It is not in my budget when I have people calling about advertising." For my sales goals I only do it yearly, but am hoping to start doing it twice a year.

TPDC: Every year I do my projected sales goal for every month and my marketing goals.

Do you find that making projections for sales help you achieve the sales you desire?

SLO

Hello,

I have to make one for my bank because they want before lend me money for my shop know how much i can win! but i really don't now how can i make this buisness plan ! so if you have some exemple or advice ??

Thank you

I paid an organization $1500 to help me with my biz plan. They have their lawyers and accountants and biz professionals review it and critique it to help me get it ready for the bank. I still had to do all the work .... I spent about 9 months or more working on it. The $1500 was the best money I ever laid out. I paid my CPA an add'l $700 to put the numbers together and make me "a business plan" and when I sent it to the orgz, they replied with "nice start".

Whether you use it monthly after that is your call, but I found it to be a GREAT exercise! It forces you to know your market and your competition and how you will work within and around that information. (Example: I found out that 2/3's of the marriage licenses issued in the Indpls Metro area are for 2nd marriages and that my area has a higher than national average per capita household income.) When you are sitting in the banker's office and you can recite the stats, the trends, etc., you are showing them that you know the market and you know this business. They will be less likely to view you as a "mom who likes to bake", but as a serious business person!

Don't make the mistake that I did and think you can whip one of these out over a weekend (duh!! My name is debi, my favorite color is "clear"). It takes a lot of time, a lot of research, and I strongly recommend an accountant or CPA assistance.

I have a business plan and would be glad to share it: 1. get some (business)
2. make some $$$

thats it. I am a stay-at home-mom with a commercial kitchen in my basement, so I don't really have to have that much of a plan to go to a bank....right now.
I have researched other cake decorators prices, policies, add. charges, ect... then made my own. I have hours and hours of research done, then have taken all that I've learned and came up with my own prices, policies, and that is my business plan. as far as projected profits....I get excited when I get hired to do a wedding cake, and count that as incoming $$ for my business.

eventually, I hope to outgrow my little commercial kitchen and will have to do the real business plan in order to expand and get a loan. (I dread that...org. and paper work stress me out).
good luck with your businesses!

melody

Check out this site for outlines of various business plans. It will give an idea of what is covered. The link is: www.bplans.com. Check out the Morningstar Bakery Plan.
Leslie

ps We had to do a business plan as a class project and it was a bear! But we got it done, now waiting on the score.
LVH

Hello,

I just finished my business plan for my Intro to business class..waiting as well for my grade on it. I followed this plan..it is longer than the one I submitted for my class, my instructor wanted a shorter version.

go to www.bplans.com

On the homepage you will see a big green box at the top. "60 Free Sample Plans" - Click on the orange box that says "Search Free Plans".

Next, Type in Morningstar Bakery in the Search Plans box and enter.

Then, click on Bakery - specialty (this is for the morning star business plan. I would save this site to your favorites once you bring it up. Then you won't have to search for it each time you want to refer to it.

This site also has other helpful places for you to go to find helpful information.

Good luck,
Jayne

Hello again,

The boxes change color, but everything is in the same spot.

Jayne