writing a business plan

Writing a Business Plan – Planning for Your Home Bakery

Writing a business plane is one of the most important parts of starting a business and proper planning for the business, which means creating a written plan for how you intend to start and operate. When someone mentions “writing a business plan”, do you think to yourself…That’s not something that I need to be concerned with. I’m simply planning to do a little baking at home. Further – Why all the fuss about creating a plan for a home bakery? Is it really, really necessary? The answer is “Yes”, particularly if your goal is to grow and expand the business. Research and gathering of information will improve and broaden your knowledge of the business. When it’s complete, your plan will serve as a road map to help keep you on track.

 

Still not on board with the idea? Maybe the necessity and worth of a plan comes down to whose opinion and advice you trust and respect.

  • The SBA (Small Business Administration) believes very strongly in the need for writing a business plan, encourages its clients to do so and offers assistance with developing a plan.
  • Many Cottage Food Law States advocate the writing/development of a business plan. North Carolina’s Cottage Food Law includes business-plan-development as one of its business start-up steps. Other states point or nudge you in the direction of their Small Business Development Center or the County Extension Office for help.
  • Throughout my years of operating a home-bakery and other home-based businesses, I’ve found that a plan of some type is necessary and very beneficial. There have been many times in the past when I wished that I’d created a plan early on and continued to update it when necessary.

Your business plan doesn’t have to be extremely lengthy or formal. Only if you’re planning to approach a lender for start-up funds does it need to be formal. However simple and basic, your plan should discuss: pre-qualification information concerning yourself as the owner/operator, all of your start-up information, the business structure, your product line, marketing/sales strategy, the competition, product pricing, suppliers, equipment, packaging delivery and a few more need-to-know details.

Interested in finding out more? Take this online Craftsy.com class from Michelle Green.


Much Success!

Quincella C. Geiger