By: Elizabeth Casson
Six Business Activities
- Generating ideas: I sell all different flavors of cupcakes for every kind of occasion. My inspiration for developing a cupcake-making business came from my favorite show, D.C. Cupcakes. According to the market in Springfield, there aren't many bakeries specializing in cupcakes so this could be a great location for my new store in order to be a successful business.
- Raising Capital: The capital to start this business is coming from my savings. As well as my parents and grandparents giving me money to start the business. That, itself might not be enough so I may need to get a loan from the bank and pay it back when my business grows successfully.
- Employee & Training: I will recruit employees by advertising on social media, including Instagram, Twitter and YouTube since I have a decent amount of people who pay attention to what I post. I will hire a limited amount of people to begin with so the business isn't in too much debt. I will have sort of high standards on who I employ. As the company grows, I will increase employment rate. As far as training goes, I will require a high school diploma and training class to learn recipes and how to properly go about making the best tasting cupcakes.
- Buying Goods & Services: I will buy my ingredients, such as eggs, flour, milk, etc.. at local supermarkets, such as Walmart, County Market, or Target. I will also get other supplies, such as cleaning and other materials for production at inexpensive grocery stores. I will look for sales on these items to save my business some money.
- Marketing Goods & Services: I will advertise by word of mouth, and this will be an effective method of advertisement since I have a large family, all willing to support what I do and most live locally. I will put up signs and posters at work offices. I will also make sure the location of my bakery is in a popular spot in town, where many will see it. I will also advertise by corporate donations and making cupcakes for large parties, where the company will be noticed.
- Maintaining Business Records: I will track orders and payments through a google spreadsheet to see how sales increase/decrease throughout the week. I will keep all customer information and records in folders on both, my business computer, in a google document, and in actual file folders in my desk at the shop. In case something happens to the paper copy, I have it on my computer and in case my computer breaks or doesn't work, I have a paper copy of them.
Casson's Cupcakes is a General Partnership business because it is owned by my sister and I. Advantages of being a Partnership entity include it's easy to create, and there's a wider pool of knowlege, skills and contacts. With every choice, though, comes disadvantages. With being a Partnership, your business ends if your partner dies of leaves the company. Also you are liable for your own individual debts and obligations for the business if you decide to be a Partnership.
- Increase my advertising budget each month by at least $50.
- Increase number of customers by 20 each month.
- Increase profits by double the profits of the first half of the year for the rest of the year.
- Decrease employee turnover by 5% each month.
- Increase efficiency by cutting down overtime by 10% by performing employee training programs.
Our job at Casson's Cupcakes is to provide delicious cupcakes for all to enjoy anytime. The cupcakes are made from all natural ingredients, they are individually designed and decorated, and the cupcakes are very inexpensive.
Vocaroo | Voice Recording: http://vocaroo.com/i/s0QmW8g723oO
Intro. To Business Commercial: Casson's Cupcakes