Bakery Business Plan in Nigeria (Feasibility Study On WYN Circle Confectioneries)
This is an introductory background of the intended business, Wyn Circle. Wyn Square is a confectionery that would be dealing with the likes of candies and pastries The name, Wyn Circle comes from the fact that the confections to be used will come from places around the world but mostly what will be made would be what is normally made in Nigeria. Others would come based on demand and trials.
The business will be different from other businesses in the sense that no matter how many eateries and confectioneries exist in the whole world, people have different flavors of whatever they have and have different ideas of what shape or form the end product would take. Mine would be different in every manner but would still have the major ingredients. This is partly the reason for starting the business.
This feasibility study contains information about the organization, the business environment, technical appraisal, production operation, management analysis, project implementation plan and others.
- i) Ownership of the business:
The business is going to be privately owned at startup but could become a public limited liability business after years of hard work and that would determine whether it would still be wholly or partially indigenously owned. Partners, if any, would mainly be family members with different skills and ideas to bring change over the years.
- ii) Objectives:
The objectives of the business are:
- To meet the needs of the society:
It is not easy to find an eatery that opens on Sundays, especially when families intend to eat after church or just get together. Most outings take place on Saturdays but research has led me to believe that some parents work on Saturdays and do not have time to spend with family except on Sundays. Wyn Circle will not only be open on weekends, but on public holidays as workers would have shifts.
- To maximize profit:
Based on the cost of materials in the market, the things sold would be relatively cheap or expensive but there will always be profit.
- To sustain economic growth
- To provide employment and teaching abilities to undergraduates and others that need to learn a different kind of skill: This is a means of taking the entrepreneurial development study that has been given to us outside to help others in need.
- iv) The Management Structure:
The business will be held together by the managers, supervisors and subordinates.
The managers are the general manager, production manager, marketing manager, and maintenance managers. The general manager will be seeing to all the activities and ensure the general smooth running of the business. The production manager will see to the production of the foods in perfect shape and in proper proportions. The marketing manager will be handling the expenses and prices of foods as well as sales. The maintenance managers are responsible for the perfect running of the machines, security and cleanliness of the eatery joints.
They work under the managers and are directly responsible for seeing that the junior management carries out their duties. They consist of the accountants, Secretary, Plan supervisor, Market supervisor, and Engineers.
They work under the supervisors and are made up of the technicians, clerks, sales officers, accounting officers, unskilled factory workers, drivers/mechanics and guards.
- v) Products:
The expected products include:
- Pies- Meat pies, apple pies, chicken pies, fruit pies etc
- Sausages- of different sizes
- Pizzas- pepperoni, ham and sausage, mushrooms and garlic, etc
- Bread- wheat bread, cheese bread, cake bread ,fruit bread etc
- Hotdogs and Burgers- cheese, chicken and beef.
- Donuts- chocolate, jam, etc.
- Ice-cream- chocolate, strawberry, vanilla, mixed flavors, coffee etc.
The snacks are baked dough made from flour, fat, water, and salt, makes a useful base or container for soft, moist fillings and is widely used for tarts, pies, quiches, and pasties. Richer pastries will include eggs, yeast, or sugar, or may use ground nuts instead of flour. Varieties include short pastry, flaky pastry, suet crust, filo, and choux. Puff pastry is made with a higher proportion of fat, and its preparation involves repeated folding—these two features make it flaky.
A section for International cuisine is also in view but for startup is the listed above.
The Business Environment:
For startup, the location of this business would be in Lagos.
Lagos is Nigeria’s leading port, particularly for imports of consumer goods, foodstuffs, motor vehicles, machinery, and industrial raw materials. Its export trade in timber and agricultural products such as cacao and groundnuts has declined since the early 1970s. More than half of Nigeria’s industrial capacity is located in Lagos’s mainland suburbs, particularly in the Ikeja industrial estate. A wide range of manufactures are produced in the city, including machinery, motor vehicles, electronic equipment, chemicals, beer, processed food, and textiles.
Most of the materials needed are already available locally and so no export or import is required. Suppliers would be contacted locally for regular provisions.
Production of the foods will be done using machines and others will be done manually for extra effect. The type of assets at different stages includes the use of different designs, punching, arrangements and flavors from different parts of the country. The address of an alternative supplier is necessary as well as the cost and terms of payment, the required manpower skill is specified, the major source of the raw material is ascertained, the quantity of material required is also known. Location of Wyn Circle will be located at different joints but will have its headquarters located in a circular form in the heart of Lagos.
For startup, the business will have a minimum of 15 workers, office space for 35 workers maximum. There will be arrangement for the employment of technical advisers due to the complexity of the machines to be used. The bakery will not be too far from the headquarters as it will be a direct road and will be situated within the same site. There will also be arrangement for power supply, availability of the national grid and an alternative form of power supply that would employ perfect switching of power to prevent damages. Training and development of the labour force especially the technicians will be carried out as there will be lessons at weekends. The raw materials to be used include flour, eggs, beef, chicken, butter, salt, nuts, vegetables, garlic, mushrooms, fruits, raisins, wheat, cheese, toppings for ice-cream. The need for import has not been ascertained and so the use of what is locally available is employed. The source of water supply would probably be borehole and run through taps for every sector of the production part.
Depending on demand, operation will run every day with shifts allocated to every member of staff. Arrangement for maintenance will hold every week for smooth running of the machines.
The analysis of the management and the manpower will help estimate:
- The management skill needed for the business
- The number of staff needed for the accomplishment of the intended task
- The cost required for their maintenance which will be ascertained by advisers and experts
- The staff to be employed is determined by the taste of the sole proprietor.
For any position in senior management, the least qualification would be a B.Sc. For the position of general manager; he should be a MBA holder with at least 10 years working experience in a manufacturing company. He should be in charge of the business plant.
For middle management, the least qualification would be HND in mechanical or Electrical Engineering with a minimum of 3 years working experience.
For junior management, the least qualification would be WASCCE/SSCE. Highest could be OND in marketing, Accounting, and mechanical engineering.
For the senior management, there will be 8 positions to be occupied but 4 to start with. The 8 is as a result of shifts and in cases of leave and illness. All in all, a maximum of 35 workers are needed.
- Senior Management- 4 workers
The general manager, production manager, marketing manager and maintenance manager.
- Middle Management- 10 workers
Plan supervisor- 2
Market supervisor- 2
Head of bakery unit- 1
Head of service unit- 1
Head of delivery-2
- Junior Management and others- 21 workers
Unskilled / skilled bakery workers- 8
Drivers/ mechanics- 2
Sales Officers/ salesclerk- 4
Interested groups and their benefits:
This section shows the financial and social benefits available to parties that contribute to the success of the business.
The benefits may include:
- Shareholders- dividends
- Financiers- medium term loan and overdraft
- Government- company taxes to government
- Employees and others- salaries/ labour wages
- Management- good corporate image
- Competitors- quality promotional tool
- Consumers- quality product
- More employment opportunities
- Increase in national GDP
- Higher marginal utility
- Foreign exchange savings: by using local raw material, the business would be able to save a substantial amount of money for the nation.
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