The Cupcake Lounge
Build Your Own Cupcakes!
Six Business Activities
Raising Capital: We, as co-owners, have invested most of our savings into this company. We have also collected generous donations from friends and family and received a loan from the bank. With this money we were able to create our lounge in a small building in Downtown Springfield. We estimate to have have all loans paid off within the first six months.
Employing & Training: Our business employees need to have some experience with the culinary arts. It is not mandatory that they go to a school for this, but we prefer they have some experience with baking. We will have training in store for new workers as well to ensure they know how to make our cupcakes, fillings and toppings. We plan on putting help wanted adds up in the local newspapers and they will need to prove their knowledge of baking before they are hired.
Buying Goods & Services: Most of our goods will be needed in bulk so we will have to buy them from online services. We also prefer locally grown fruits for our fillings so we will do business with local farmers as well. Our appliances will have to be specialized so they cannot be purchased at local stores.
Marketing Goods & Services: We will start with adds in the local newspapers and our website. We hope to eventually expand enough to have a radio commercial or TV commercial.
Maintaining Business Records: We found a very nice online site called "Quickbooks" where we are able to track sales, maintain supply levels, and pay taxes. It has made our life much easier and we can focus more on our costumers and business rather than money.
We have chosen to form a partnership for The Cupcake Lounge. Since we both would like to own the company the partnership works out. Some set backs for the partnership include shared investments and profits and liable for debt is the business fails. On the bright side it is a lot easier to start a partnership than a Corporation. Also you have a support system with your partner when it comes to financial complications.
1. Establish a well know business in the Springfield area
2. Have 5 employees working for us, including a manager
3. Create an online site where costumers can order custom cupcake that can be shipped across the United States
4. Set up partnership with Pepsi or Coca Cola so we can sell their products in our shop
5. Have an income of $50,000 or more a year.
Making it the yummiest and yet not hurting your wallet!
Taste our cupcakes once; waste not your time on others anymore!