Sweet Time DIY
Business Idea for Sweet Time DIY
Nowadays, there are wide varieties of food and lots of different people in Cambridge. As time flies, “boredom” might be around our life. At the same time, people lack the opportunities of doing things by themselves. Also, people want to make themselves different from others, especially for students and young people. Making a unique cake or sweet, you may have an unusual experience about making. Therefore, “do it yourself”(DIY) is a new idea for cake shop.
(The logo of my cake shop)
* Business Concept
The business is partnership. I have decided to start a new business with my sister, which is a new type of bakery. Also, the partner ownership is split 60% for me and other 40% for my sister. The advantages of being partnerships are more capital is available to invest and individual partners can offer special knowledge and skills. However, the disadvantages are the business has unlimited liability, which means that there is no distinction between the individuals and the business. If the business is sued, for example, my sister and me may lose our personal possession. This is a risk that some people may not be prepared to take. The cake shop is called “Sweet Time DIY.” The name is easily lets people know what the shop products. My sister has experience in sales, marketing and accounting, and she used be an accountant in our father’s company for three years. I would let her manage financing of the business. I will hire a consultant to help me run this business. Consultants keep cost low as I only pay them for specific time period worked and bring in specialist skills that we do not have. But the disadvantages are hiring a consultant can be very expensive and he may not be committed to the business because he only here for short time so may not care that much. Moreover, I also intend to hire two full-time pastry bakers and three part-time waiters to handle...