Since I have all the necessary requirements, I will be able to create attractive products and run and grow the business with profit in mind. Since bakery is a popular business, the sale of baked goods is not significantly affected by economic factors. I intend to introduce other baked products other than bread, such as custom-order cakes, gourmet cakes and wedding cakes (Hui amp. Corke, 2006: 575). This will help in creating a wide variety of products thereby attracting more customers. This, in turn, increases sales volume.
I intend to capitalize on the trends in consumer tastes in order to increase margins and stay in business because the business will have substantial revenue growth. I intend to offer handcrafted artisanal products in order to build a recognizable niche that competing businesses would not easily replicate (Gracia, 2008: 227). In addition, I intend to employ more efficient and effective employees aimed at reducing spoilage and wastages have been eating up the revenues of the company. This will also help the business in mass production thereby meeting the increasing customer demand. Finally, I also intend to use par-baked products, particularly for cakes, so as to cut down baking time in order to meet the increasing demand of customers for wedding cakes in a short period of time (Hui amp. Corke, 2006: 575). The bakery industry in the UK is worth £3.6 billion in annual revenue. Sales are composed of buns and bagels, bread, pastries, sweet goods and cakes and pies. The bakery is divided into three principal segments or sectors namely in-store bakeries (ISBs) within supermarkets that produce approximately 17 percent of baked products, the larger (plant) baking companies that produce about 80 percent and high street (craft) bakeries that produce only 3 percent (Martínez-Monzó et al. 2013: 56) .