Choose a business on which to base this project. The business can be your own business, a business in which you work, a sporting or social club to which you belong or any other business with which you are sufficiently familiar so as to be able to complete the project requirements. Outline the core focus of your business as it will operate at start-up and then discuss the threats it faces as the market and customer preferences change. Detail the strategies you will use to keep abreast of all changes that will affect your business and suggest at least 2 ways that you can identify new business opportunities. Submit your response for assessment.
I will base this project on the bakery Brumby's Riverton Forum, where my husband works as a baker. For the purpose of this project, I will consider that this bakery is not a franchise but a start-up company. According to Wikipedia, "A start-up company is a company, a partnership or temporary organization designed to search for a repeatable and scalable business model.These companies, generally newly created, are in a phase of development and research for markets. The term became popular internationally during the dot-com bubble when a great number of dot-com companies were founded." Considering that this small business will operate at start-up, its core focus will be: - to conduct research to validate, assess and develop the bread products and associated services that would have commercial potential - to determine the target market to reach
- to hire experienced front-line staff and bakers to ensure the delivery of the best products and service possible - to determine a variety of products wide enough to attract customers and make them curious enough to try them: large range of breads, savory products and sweets - to keep input costs low to be able to offer the customers a sustainable range of products: ingredients, labor, machinery, electricity, water, premises rent - to keep close alignment with the wished image of...
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