Economics How to build a Business Model
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This proposal outlines plans to convert a hobby of cake baking into a business called Yolanda's Cake Shop. The business will offer personalized and customized cakes, partner with event managers, and use advertising and promotions to gain customers. Current monthly sales are 5 regular cakes and 2 wedding cakes. Financial projections estimate higher sales of 10 regular and 4 wedding cakes per month if more capital is acquired. The conclusion promotes Yolanda as a role model and encourages booking her cakes to match themes for parties.
Economics How to build a Business Model
- 1. PROPOSAL FOR CONVERTING YOUR HOBBY INTO A BUSINESS NAME OF THE STUDENTS ROLL NO. Ms. GILLIAN DOURADO 68 Ms. NIDHI JAIN 75 Mr. SATEJ KHOT 83 Mr. JIGNESH MISTRY 93 Mr. CHETAS SHAH 110
- 2. Introduction ?Cake as a product ?Customization The Latest Trend. ?A brief on Yolanda ?Purpose of this project
- 4. Dem and ?Personalized / Customized cakes ?Affiliations with event managers ?Free birthday caps and candles ?Advertising through radio channels in form of gift vouchers ?Baking classes ?Free pastry to frequent clients every quarter (Innovated pastries like Red velvet cakes) ?Free delights to school students on a particular occasions ?Cake on Wheels
- 6. Price Pricing Strategy to Gain Market Share: ?Manage Fixed & Variable Cost ?Optimum Utilization of Resources ?Bulk Buying ?Customization ?Build Image of the Product in Consumer Mind
- 7. Current Capital Current Financials for 5 Normal Cakes Per Month & 2 Wedding Cakes Per month
- 8. Future Capital Current Financials for 10 Normal Cakes Per Month & 4 Wedding Cakes Per month
- 9. Conclusion ? Money out of hobby- There is no specific marketing strategy to be followed: spreading the word through friends and family or even putting up a page on Facebook and you're set to make profit out of your interest. ? Yolanda a role model- Yolanda can be a role model for many young entrepreneurs to convert their hobbies into a money making livelihood and enjoy their work. ?Book One now ! ?So if you have an occasion coming up with a theme for the party in place, you could surely contact Yolanda and have her design a cake with a personal touch to match the theme, which will surely make your Friends envy about it.
- 10. Conclusion ? Money out of hobby- There is no specific marketing strategy to be followed: spreading the word through friends and family or even putting up a page on Facebook and you're set to make profit out of your interest. ? Yolanda a role model- Yolanda can be a role model for many young entrepreneurs to convert their hobbies into a money making livelihood and enjoy their work. ?Book One now ! ?So if you have an occasion coming up with a theme for the party in place, you could surely contact Yolanda and have her design a cake with a personal touch to match the theme, which will surely make your Friends envy about it.