CORRECTION_Business_GradedBU501

Dolce Mamma BakeryCezar AlmeidaSouthern States University BU501 Financial AccountingInstructor: Will Taylor 10/23/2019 Executive SummaryConsidering the fact that I was born into a family that always liked to cook. I grew up watching and learning from my mother and my grandmother’s making delight in the kitchen. The specialty of my grandmother was to bake cakes and sweets, while my mother was making salty foods. By coincidence I’m married to a woman who loves to cook, she likes to bake cakes, breads, sweets, and also, she makes sweets to sell on demand on holiday season such as Thanksgiving, Christmas and Easter. So, after a lot of talk with my wife about opening a company, we decided to open a small bakery. The name of bakery will be DOLCE MAMMA.Dolce Mamma will provide the best qualities and variety of fresh bakes, cakes, sweets, beverages and homemade juices. Our bakery will be located at San Diego-CA, specifically in the Pacific Beach region, where it has the largest number of Brazilians who miss a good Brazilian bakery, and also, they can bring their American friends to taste the taste of Brazilian cuisine.
 Our bakery will be opened to public to all ages, and social classes, mainly for people who enjoy a fresh baked.  I love the bakery nameIntroduction Dolce Mamma aims to manufacture and market breads and sweets of the most varied types, and can be savored in the store, for the comfort of its customers as well as the option of take home.The company intends to supply its products for restaurants, parties, weddings, ceremonials, hotels and clients in general.One of the secrets for the differential in the market thus obtaining a good result of the business is the creativity, a healthy environment in which people can enjoy and savor with tranquility one of the most varied types of sweets produced by the company, working with innovative recipes, with the taste of Brazil and the great service that Dolce Mamma offers.      Mission Statement Assisting our customers with quality products, developing new products and ensuring company growth and performance and customer satisfaction.Vision statement Being solution in products of qualities development and guarantee of the products to offer, growing with efficiency and creativity of the company to offer healthy food and with the flavor of Brazil.SWOT ANALYSIS DOLCE MAMMA Please do not provide bullet points in your final paper without providing explanations as to what the points mean and how they provide advantages or disadvantages associated with the bullet points.STRENGHTSUnique taste, relax place, good environment, good network of friends and customers.Good educated and experienced employees in the bakery field.Have good and fresh bakedWEAKNESS I do not know any supplies, culture, new brand.New in the market PricingOPPORTUNITIES: We are the first one, big growth in catered events market.Expansion of the product range Growing in the bakery market THREATS: Cost, new competitor, established business and business closing.Economic downturn It is a good idea to perform a SWOT analysis and the opportunities and threats should be based on what the industry leaders in your market are doing.  Who are the most successful bakeries operating in San Diego now?  What are they doing well and what are they struggling with.DEMOGRAPHICS Dolce Mamma will be located in Pacific Beach, San Diego. (as the locals call for it) Pacific Beach is favorite spot for college students, young and adults that like enjoying the party atmosphere. Also is an area known for having many bar and restaurants very close to the beach. P.B. comes alive at night, too, with the glow of bonfires and the electricity of the region’s many clubs. Pacific Beach has a large population of Brazilians because it is a good area for surfing.   Pacific Beach demographics profile Statistic Pacific Beach San Diego California Population 31,770 1,374,812 38,654,206 Population density (sq mi) 7,552 4,233 232 Median age 33.4 34.2 36.0 Male/Female ratio 1.1:1 1.0:1 1.0:1 Married (15yrs & older) n/a 48% 52% Families w/ Kids under 18 36% 45% 46% Speak English n/a 59% 56% Speak Spanish n/a 23% 29% Competitors Starbucks The competitors from our bakery will be a big company that is already in the market for long time in the Market it is Starbucks. In 1971, back then they were a roaster and retailer of whole bean and ground coffee, tea and spice with a single store in Seattle’s Pike Place Market. Today, they are privileged to connect with millions of customers every day with exceptional products and more than 30.000 retail stores in 80 markets.  Is Starbucks really a director competitor for a bakery?  I don’t believe Starbucks core competency is baked goods.  I believe it is coffee.The link below you can find all the accounting information from Starbucks such as income statement, balance sheet and cash flow statement. https://www.macrotrends.net/stocks/charts/SBUX/starbucks/income-statement.Bakery 85℃The other competitor will be the Bakery 85℃. This bakery in 2003, the founder of 85°C Bakery Cafe, Mr. Cheng-Hsueh Wu visited a cafe in a 5-star hotel. While enjoying gourmet pastries and drinks, he realized that the prices were set way too high for people to enjoy on a whim. From that moment, Mr. Wu has envisioned a cafe that provides premium coffee, bread, and cake at affordable prices. Thus the 85°C Bakery Cafe journey begins, today, 85°C has over 1,000 locations worldwide. In 2008, the first U.S. store opened in Irvine, CA. The location quickly became an overnight sensation, with over 5,000 Yelp reviews and lines out the door. Featured on TIME, CNN, NPR, and Travel Channel, 85°C Bakery Cafe has become a culinary phenomenon and a new cafe experience for all.  Revenue from Bakery 85℃In 2016, 67% of the chain’s revenue came from china, while 18% came from Taiwan. In 2013, the average US store generated more than US$700,00 in monthly sales, seven times more than average store in china.  Great job choosing this company and now I would look for another one just like this!Costs and ExpenseStartup Costs Equipment $ 46.000.00 Material $ 4.500.00 Rent $ 2.000.00 Website $ 5.000.00 Signage, Stationary, etc. $ 1.000.00 Consultation $ 1.000.00 Supplies $ 1.000.00 Business license $ 1.000.00 Cash Reserve $ 5.000.00 Total: $66.5000.00Where are you locating this financial information?  Where can you provide resource information to support that these are cost that will be associated with starting a bakery.Operational Monthly Costs Rent $ 2.500.00 Gas and Electrics $ 1.000.00 Water $ 1.000.00 Food Supplies $ 1.000.00 Other Supplies (office, cleaning) $ 200.00 Employees $ 2.000.00 Insurance $ 500.00 Marketing $ 200.00 Phone $ 100.00 Maintenance $ 200.00 Total: 8.700.00Income (First Year) Sales per Customer $ 10.00 (approximated) Sales Per Day (average 20 customer a day) $ 200.00 Catering per Week $ 1.000.00 Total a month                                           $10.000.00                        Income (Second Year) Sales per Customer $ 10.00 (approximated) Sales per Day (average 30 customer a day)  $ 300.00 Catering per week $ 1.000.00  Total a month                                         $ 13.000.00Income (Third year) Sales per Customer $ 10.000 Sales per Day (average 30 customer a day) $ 300.00 Catering per week $ 1000.00 Total a month                                                      $ 13.000.00Please put a little less financial information and more written information about your company and the products you will be offering.  Focus on why your bakery will be able to be successful in San Diego with the large number of bakeries currently located in the city. You had four pages of charts which means you had like three pages of written documentation.  That will not be enough for your final paper.  You will also need between 8 to 10 citations or references to support your market research.  You will need this information to further support why you are entering into a particular market.21 out of 30.ReferencesPacific Beach Demographics, (2019). Retrieved fromhttps://www.point2homes.com/US/Neighborhood/CA/San-Diego/Pacific-Beach-Demographics.htmlStarbucks Income Statement 2005-2019: SBUX. (n.d.). Retrieved from https://www.macrotrends.net/stocks/charts/SBUX/starbucks/income-statement.our menu. (n.d.). Retrieved from https://www.85cbakerycafe.com/.