Business Plan Development Steps 5 & 6: Industry Profile and Strategy
Business & Industry Profile – Step 5
In continuation of the entrepreneurship vision of expanding the franchise Panera Bread to London, England steps 5 and 6 have been considered herein. The excellent vision statement of the provision delicious breads in the context of a real bakery-café charts the background of these two steps of: (a) Business & Industry Profile, and (b) Business Strategy.
Business and Industry Profile
It is important to gain insight into the industry in London England, and understand the setting of bakery-café conditions in the area. Reviewing updated reports on the bakery trends, for entrepreneurs in the industry in London, England is very promising. According to an IBIS World report, the market data findings show that consumers are less interested in “industrially produced goods” (“Bread & Bakery Goods”). Trends in the United Kingdom, including London, suggest that people no longer enjoy eating the bread products from big-business large-plant type bakeries. Industry analysis for the entrepreneurial effort to erect a new Panera Bread style enterprise in Europe, in fact, looks very good. Consumers are basically sick of consumption of plant bread, which does not have the fresh individual artisan’s bakery touch.
The industry trends in the bakery-café sector show that small bakeries are growing in proliferation, and preferred by customers. Research numbers from one industry trend report, in 2011, showed a huge fluctuation in wheat prices. Therefore, the smaller entrepreneurial bakery business industry profile makes more prudent sense for the small artisan bakery to thrive. In other words, this is good news.
Business Strategy – Step 6
The business strategy matching the cold and hot beverage industry of the bakery-café in London, England of Panera looks to building a sustainable enterprise. Panera Bread in London and Europe, will implement commitment to top-level product service. The overall strategic goal assumes ongoing training in technology, aligning the salesforce to expand and survey the European consumer base, execute opportunities for management staff to attend Britain’s bakery industry events to keep abreast of trends, and investing in operational efficiency by investing in projects which reduce costs. The concept is to create a performance oriented operation, in terms of entrepreneurship responsibility. Strategic objectives for the business includes:
Implement excellent plan for employee training on equipment, and service techniques
Create unified décor for store, uniforms, and colors blending into the community
Design a coordinated website to reflect the décor, updated daily for bakery specials
Establish and continually review budget, and investigate a reserve capital supply for unforeseen price hikes in raw flour goods, cocoa, coffee, and other foodstuffs
Commit to review initial start-up costs, and plan to operate sustainably as much as possible
Open bi-monthly suggestions from in-house bakers for new delicious products
Create a mobile app for customers, allowing the ‘frequent buyer’ to accrue points
Produce bi-monthly video social media demonstrations for fresh baked goods
Consider creation of holiday mail order specials, to increase seasonal purchases
Establish all operational costs in energy, waste management, and water consumption
Ensure packaging is green-friendly and matches the décor of the website and store
Review operational costs every week
Close store every Monday or Tuesday for ultra-deep cleaning, ceiling to floor
Examine logistics of real-life shipping capabilities to ship all over England
Works Cited
“Bread & Bakery Goods Production in the UK: Market Research Report.” Ibisworld.co.uk IBISWorld – Bread and Bakery Goods Production Market Research Report Aug 2015, 2015. Web. 24 January 2016.
“Defining Your Business Strategy.” Entrepreneurship.org The Entrepreneur’s Resource, n.d. Web. 24 January 2016.
