1. Newgate Solutions
Business Plan
Robin Hood Cake Cafe
In Toronto, Canada
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2. Table of Contents
Executive Summary ........................................................................................................................... 5
1. The Concept ................................................................................................................................... 6
1.Introduction ................................................................................Error! Bookmark not defined.
1.1.1 Industry Overview ............................................................................................................ 6
1.1.2 Company Overview .......................................................................................................... 6
1.1.3 Our Business ..................................................................................................................... 6
1.1.4 Our Goals .......................................................................................................................... 6
1.1.5 Our Objective .................................................................................................................... 7
1.1.6 Mission Statement............................................................................................................ 7
1.1.7 Vision Statement ............................................................................................................... 8
1.1.8 Core Values ....................................................................................................................... 8
1.2. Product and Services ............................................................................................................... 8
1.2.1 Product .............................................................................................................................. 8
1.2.2 Service to customers ......................................................................................................... 9
1.2.3 Attributes of our product ................................................................................................... 9
1.3 The Customers ......................................................................................................................... 9
1.3.1 Target Customer................................................................................................................ 9
1.3.2 Target Customer’s Age ................................................................................................... 10
1.3.3 Income class .................................................................................................................... 11
1.3.4 Target Segment ............................................................................................................... 11
1.3.4 Target Geographies ......................................................................................................... 11
1.4 The Legal Organization ......................................................................................................... 12
1.5 The Owners ............................................................................................................................ 12
2. Feasibility of Business ................................................................................................................. 13
2.1 Location ................................................................................................................................. 13
2.2 Site ......................................................................................................................................... 13
2.3 Site Expenses ......................................................................................................................... 13
Table 2.1 (Site Expenses) ............................................................................................................ 13
2.4 Market Potential ..................................................................................................................... 14
2.4.1 Market Growth and Trend .............................................................................................. 14
2.4.2 Market Size ..................................................................................................................... 14
2.4.3 Market Gap ..................................................................................................................... 14
2.5 Competition............................................................................................................................ 14
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3. 2.5.1 Competitive Strategy ...................................................................................................... 14
2.5.2 Competitors ..................................................................................................................... 15
2.5.3 Sustainable Competitive Advantages ............................................................................. 16
2.5.4 Technology leadership .................................................................................................... 17
2.6 Opportunities and threats ....................................................................................................... 17
2.6.1 Opportunities................................................................................................................... 17
2.6.2 Threats............................................................................................................................. 17
2.7 Sales Forecast......................................................................................................................... 18
2.8 Protecting the Business .......................................................................................................... 18
2.8.1 Security System .............................................................................................................. 18
2.8.3 Contingency Planning ..................................................................................................... 19
2.8.4 Environmental and Legal Issues ..................................................................................... 19
2.8.5 Risk Management ........................................................................................................... 19
3. Marketing ..................................................................................................................................... 20
3.1 Business Name ....................................................................................................................... 20
3.2 Brand Image ........................................................................................................................... 20
3.3 Service/Product Mix .......................................................................................................... 21
3.3.1 Product Expansion Strategy ....................................................................................... 22
3.3.2 Product enhancement ...................................................................................................... 22
3.4 Pricing Strategy...................................................................................................................... 24
3.4.1 Target Based Costing ...................................................................................................... 24
Table 3.2 (Price catalogue) .......................................................................................................... 24
3.5 Distribution ............................................................................................................................ 25
3.5.1 ERP enable Systems ....................................................................................................... 25
3.6 Promotion............................................................................................................................... 26
3.6.1 Sales Promotion .............................................................................................................. 26
3.6.2 Direct Marketing ............................................................................................................. 26
3.6.4 Viral Marketing ............................................................................................................... 27
3.6.5 Display marketing ........................................................................................................... 27
3.6.7 Alliances ......................................................................................................................... 27
3.7 Sales plan ............................................................................................................................... 27
4. Operations .................................................................................................................................... 28
4.1 Space and Equipment ............................................................................................................. 28
4.2 Organization ........................................................................................................................... 29
4.2.1 Organization Structure .................................................................................................... 29
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4. 4.3 Management team .................................................................................................................. 30
4.3.1 Employee Engagement. .................................................................................................. 30
4.3.2 Proper goal setting. ......................................................................................................... 30
4.3.4 Managing work force diversity ....................................................................................... 31
4.3.5 Adopting Flat Organizational Structure .......................................................................... 32
4.4 Regulations ............................................................................................................................ 32
6. Finances ....................................................................................................................................... 33
6.1 Start-up Requirements ........................................................................................................... 33
6.2 Owner’s Investment ............................................................................................................... 34
6.3 Borrowed Money ................................................................................................................... 34
6.4 Balance Sheet ......................................................................................................................... 35
6.5 Income Statement .............................................................................................................. 36
6.6 Cash Flow Statement ............................................................................................................. 37
References ........................................................................................................................................ 38
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5. Executive Summary
DIY cake has been a growing market for a long time and has years to grow. The notion of “do- it-
yourself” style of business has been widely accepted.RobinHood Cake Cafe is the brand name
chosen for our business and is also the name of the company under which the DYI cakes will be
offered. This brand would serve the needs of customers of Canada, more specifically for those who
live in Toronto.
RobinHood name has been taken from the inspiring hero of English Folk, who was high skilled
archer and swordsman. Here archer shows that Robin Hood was very target oriented as he hardly
missed the arrows on the target. The swordsman shows that he was a charismatic leader. This two
important components “Target Oriented goal” and “Leader in the market” has been taken into
perspective while naming the business. Initially a fund of $30,000 will be invested and also an
additional of $30,000 will be raised in long-term loan.
Here cake will be produced based on the exact needs of the customers and will be customized
based on the specific requirement or order put by the customers.We would provide service that
would create an ultimate experience for our customer and would attract them to come again and
again that would in turn promote brand loyalty. Our service will have following points of
differentiation.
RobinHood cake will be focused on notion of having hygienic, healthy, low calories, balanced diet
and organic ingredients need of customers. On the same front it would taste good and would be
available in variety of flavors.
We will be forming Sole Proprietorship ownership type legal organization. This type of business is
easiest way to start because here the owner only needs to get a license to begin the operations. This
legal type of business gives absolute control over the business than that of partnerships or
corporations. But in long run as the business grows, chances of forming a partnership or
corporation are there. Since this a sole proprietorship business model, it will compromise of one
owner as the Managing Director.
.
Site that has been chosen to set up a retail outlet for DIY cake would be in the downtown area of
Toronto. Such site would be the most happening area, flooded with people, high density of
customers and customers can easily have accessibility to our brand. On the same time our shop
will also get noticed by mass population.
There lies a huge potential in the cake industry. This industry has already turned $1.6 billion and
has created a significant demand among the people. The cake market is expected to grow by 5.2%
in coming years.
The business will be operating all 7 days a week. Online orders will be accepted all the time 24
hours a day. The working hours of business would be 7 a.m. – 8:00 p.m. The fund required by
business would be $30,000. Hence a capital of 75% that is around $22,500 will be invested from
the owner’ side.
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6. 1. The Concept
1. Introduction
1.1.1 Industry Overview
DIY cake has been a growing market for a long time and has years to grow. The notion of “ do- it-
yourself” style of business has been widely accepted and helps business to provide customized
service and variance of a product that have the ability to suit the exact needs of the any customer.
Here instead of standardizing the process of manufacturing cakes, the staff design the cake and
decorates it, with exact specification required by the customer keeping in mind the ceremony and
event where the cake is going to be used.
1.1.2 Company Overview
Robin Hood Cake Café is the brand name and also the name of the company under which the DYI
cakes will be offered. It is an establishment that will meet the growing trend for cakes in Toronto
area of Canada. The cafe will be a sole proprietorship owned company registered in Canada.
This brand would serve the needs of customers of Canada, more specifically for those who live in
Toronto. Initially afund of $30,000 will be invested and also an additional of $30,000 will be
raised in long-term loan.
1.1.3 Our Business
This business catering to the cake market will have a basic motive to provide the freshest, tasty and
high quality cakes that are made from natural ingredients. Our brand also addresses the need for
hygiene and being conscious about a healthy diet for our customers. In our business we are
planning to run our business in retail outlets and also have plans to run our own franchise in the
long run. Our food hygiene guidelines and rules for preparing a cake will be applicable to any
premises in which our cakes are being prepared and delivered under our brand name.
Other than just preparing cake, our purpose is to create an attractive ambience and a unique
customer experience when they come in touch with our brand.
1.1.4 OurGoals
Philanthropic Goals
• Offering our customers the freshest possible cakes which are made from organic resources
• Promoting the notion of “Go Green”, through our brand and advertising tools to protect our
mother earth.
• Dedicating 3.7% of our earned profits to support education for handicapped children.
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7. Business Goals
• To supply optimum quality cakes with high customer delight
• Providing an unique experience to our customer
• Ensuring that the cake delivered is hygienic and is not a rich diet for customers.
• Giving high efforts nearly 80 hours per month specifically for branding and promotion
• Minimize our cost and maximize our effectiveness
Strategic Goals
• Participating in nation-wide and local trade or event shows
• Raising funds in order to support our goals through interested capital investors
• Achieving 95% customer satisfaction and ensuring more and more loyal customers
• Achieving 10% of DYI cake market down the line in 3 years
1.1.5 Our Objective
Business Objectives:
• Offering a clean and well serviced cake café.
• Providing healthy menu for all our customers.
• Offering superior, quality, fast and friendly service for all our customers.
• Establishing ourselves as one of the leading service provider in DIY cake industry.
Financial Objectives:
• Increasing our sales by 17.36 % within the first year
• Exceeding our monthly forecasted sales.
• Meeting annual forecasted profits.
• Maintaining strong cash flow by meeting estimated cash flow balances.
Marketing Objectives:
• Maintain strong customer base through intensive marketing efforts by advertising and sales
promotions.
• Creating online advertising and maintaining word of mouth through our optimum service and
quality of cakes
• Creating a brand value
• Ensuring brand loyalty
1.1.6 Mission Statement
Our company’s mission statement has been designed to help our customer get maximum benefit
out of our service.
1. We provide cakes that are healthy, fresh and organic , ensuring that our customer have a good
diet
2. We are adaptable with product menu to include gluten-free, vegan and sugar free treats.
3. We provide cakes that can be customized and are very specific to the requirements and orders
of the customers.
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8. 4. We guarantee immediate service with delivery at customer’s door step
5. Cleanliness of the shop and the staff is very important to us.
6. Being environmentally responsible is our prime motive
1.1.7 Vision Statement
Our company’s vision statement has been designed to view ourselves in long term as an aspiring
brand.
1. We intend to adopt practices that are eco-friendly and helps nourishing our environment.
2. We believe in providing best product for our customers with unique experience.
3. We continue to invest through our own franchise network and partnering with other business
and Non profitable organizations.
1.1.8 Core Values
Our business core values would lie in three key attributes of business that is “Service”, “Sustain”
and “Contribute”.
Service: Building an environment for our customers where they get best possible service andan
experience that let them come again and again.
Sustainability:Taking approach that is sustainable and help retaining our business for a longer
period of time.
Community Contribution: Believing in educating handicapped children to raise their literacy
level and give them moral support to live their life and grow like others.
1.2. Product and Services
1.2.1 Product
Robin Hood Cake shop core product is “DIY cake” where DIY stands for do it yourself. Here cake
will be produced based on the exact needs of the customers and will be customized based on the
specific requirement or order put by the customers.
Product will have 3 important points of differentiation
1. Customers themselves can design the cake and give an order accordingly
2. Cakes decorative will be supplied and will be available in handy where customers can choose
the flavors, accessories and decorative items available in cake decorative kits
3. Pre framed designs for cake with various occasions like “Birthday”,” Christmas”, New-year”,
“valentine’s Day” etc. will be available; however customers will always have the choice to
create their own design.
4. Available in different flavors, with creams, toppings etc. but customer have the option to create
their own flavor, toppings and raise the order.
5. We are adaptable with product menu to include gluten-free, vegan and sugar free treats.
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9. 1.2.2 Service to customers
We would provide service that would create an ultimate experience for our customer and would
attract them to come again and again that would in turn promote brand loyalty. Our service will
have following points of differentiation
1. Instant cake preparation and home delivery at customers door step
2. Able to take orders online, through m-commerce, e-portals and process order payments
online through online banking system/credit cards/debit cards
3. High quality ambience and friendly staff putting customers at ease
4. Online cake designing portal of our brand, where customers can design the cake and put us
the order.
1.2.3 Attributes of our product
Robin Hood cake will be focused on notion of having hygienic, healthy, low calories, balanced
diet and organic ingredients need of customers. On the same front it would taste good and would
be available in variety of flavors. In addition, the café will provide accessories such as earrings and
pocketbook items that will appeal to both the male and female consumer. Our cakes will dedicate
in creating specialty cakes for all occasions which can fit to the individual needs of our diversified
customer base.
We also take care of cross-contamination and make sure that the equipment, cloths, gadgets,
cleaning products, ingredients and packaging used are free from bacteria and are sterilized well
before use.
1.3 The Customers
1.3.1 Target Customer
Our target customers are those who would require cake at different occasion with specific needs.
All cake shops may not satisfy or full their needs as most of the shops provide pre designed
fabricated cakes that are standardized and customers have to choose any one from the. However
we are targeting customers who are in need for customized cakes for a special occasion, where
they want a cake of their own design.
The below table we can sees that in Canada people from different geographies and ethnic
background are located. Also we can see that the Americans are the people who mostly constitute
the population of Canada, followed by Africans and Asians.
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10. Table 1.1
So our prime target community groups would be the Americans, the Africans and the
Asiansresiding in Canada.
1.3.2 Target Customer’s Age
Chart 1.1
From the above chart we can clearly see the age group distribution. Canada has 25-34 age groups
as the highest proportion, followed by 16-24.
So our prime target age groups would be customers would fall in between 15 - 35 year.
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11. 1.3.3 Income class
Since we would be providing customized cakes, we would be targeting both premium customers as
well as economical customers. We will have separate section for both. For economical class we
would target customers with an average disposable income of $3,500 to $10,000 per month.
For premium class our target customers would be one with an average disposable income above
$3,000 to $10,000 per month.
1.3.4 Target Segment
Our prime target would be to raise volumes of sales by targeting specific occasions or events. This
occasion are ranked in order of their priority.Psychographically, our target is in identifying people
who enjoy luxury items, organic products, and care about their health and are Concern about
protecting environment.
Our efforts would be to entertaining the Baby Boomers (those born 1946-64), Generation X (born
1964-74), Generation Y (born 1975-95) and Generation Z (born 2000-2021).
Our prime target would be to raise volumes of sales by targeting specific occasions or events. This
occasion are ranked in order of their priority.
1. Birthday
2. Cake Festivals
3. Marriage& Weddings
4. Anniversary parties
5. Baby showers
6. Valentine’s Day
7. Christmas
8. New Year
9. Family Functions
10. Bon Voyage
11. Bridal showers
12. Congratulatory celebrations
13. Graduations
14. Holidays i.e., Easter, Christmas, Fathers’ Day, Mothers’ Day, St. Patrick’s
Day, Thanksgiving, Hanukkah, Kwanzaa,
Earth Day, Passover, Memorial Day, etc.
15. New Home Welcoming
16. Retirements
17. Thank you giving
18. Other Occasions
1.3.4 Target Geographies
We would cater to the market of Canada. Initially we start from Toronto. Our main aim is to target
the down turn area in Toronto.
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12. 1.4 The Legal Organization
We will be forming Sole Proprietorship ownership type legal organization. This type of business is
easiest way to start because the owner needs to get only a license to begin the operations. This
legal type of business gives absolute control over the business than that of partnerships or
corporations. But in long run as the business grows, chances of forming a partnership or
corporation are there.The sole proprietor’s income from business perspective is considered as
personal income. Owner can declare income as part of Schedule C, Profit and Loss from a
Business or Profession, with a standard 1040 Federal Individual Income tax return.The sole trade
structure is on the most straight-forward option of carrying a business. The individual is taxed
under the Inland Revenue's Self-Assessment system, with income tax calculated after deduction
for legitimate business expenses and personal allowances. A sole proprietorship owner is
personally liable for all the debts of the business, but also owns all the profits. In case of conflict or
damage, owner can lose his personal asset which may not be the part of business.
Advantages of a Sole Proprietorship
Quicker Tax Preparation
Lower Start-up Costs
Ease of Money Handling
Disadvantages of a Sole Proprietorship
Personally Liable to damage
Lack of Financial Controls
Lonely at the Top
Difficult to Raise Capital
1.5 The Owners
Since this a sole proprietorship business model, it will compromise of one owner as the Managing
Director. In this case owner himself/herself would remain the Chairperson. However it will have
board of directors of 2 members to look into the business, audit and inspect that everything is right
on the way. Equity Shares will be raised to attract more investors and agreement will be signed
based on mutual understanding, so that the investors gets maximum benefit out of the business.
However owner will enjoy the maximum privileged power.
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13. 2. Feasibility of Business
2.1 Location
This business is basically established and is registered with Canada. The DIY cake shop will be
located in the Toronto, which are the largest city of Canada and also the capital of the state of
Ontario. Toronto is situated in the southern part of Ontario, on the northwestern shore of the lake
Ontario. Toronto has 2.6 million residents and is expected to have highest demand for cakes in
entire Canada, because of its presence of high income class people, young working group of
people and students and also a presence of lifestyle that would trigger several happenings, party
themes, celebrations, events and occasion all around the city raising the demand for food and
beverages. Toronto is one of the world's most diverse cities counted by percentage of nonnative
born residents, where about 48% of the entire population are born outside Canada and are not a
native.
2.2 Site
Site that has been chosen to set up a retail outlet for DIY cake would be in the downtown area of
Toronto. Such site would be the most happening area, flooded with people, high density of
customers and customers can easily have accessibility to our brand. On the same time our shop
will also get noticed by mass population.
The retail zone for the downtown area is the Downtown Yonge, area which located along the
Yonge Street starting from the College Street to Queen Street. This area has a large base of retail
outlets and customers, including the Toronto Eaton Centre indoor mall making this place catchier
for people. There is total estimate of 600 retail stores, 7 premium hotels and 150 restaurants and
bars. In recent years the area has been experiencing faster growth as the Business Improvement
Area (BIA) has brought in new retail and also have improved the cleanliness of this this area to
cater it at posh market. Downtown area is also the financial District, which is centered on the
intersection of Bay Street and King Street.
2.3 Site Expenses
Site expenses for private office available in down turn area would be $300 / 100ft² on lease. So
with an expectation of a shop of 4500 square feet, the expenses will go about $13500 per year.
However the cost of the area and land is increasing by 11.2% hence every year is the site expenses
will go high. Also the maintenance cost for land and building is increasing by 7% every year in
Toronto.
Table 2.1 (Site Expenses)
Expenses Year 1 Year 2 Year 3
Land Licensing Expense $1,200 $0 $0
Lease for Office Space (4500 Square ft.) $13,500 $15,012.000 $16,813.44
Site & Building Maintenance $450 $481.50 $515.21
Municipality Expenses $200 $214.00 $228.98
Electricity, Water and Other $750 $802.50 $858.68
Total Expenses $16,100 $16,510 $18,416
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14. 2.4 Market Potential
2.4.1 Market Growth and Trend
There lies a huge potential in the cake industry. This industry has already turned $1.6 billion and
has created a significant demand among the people. The cake market is expected to grow by 5.2%
in coming years. The global cake market is expected to exceed $310 billion in 2015 as per the
global industry analytics.This demand is being driven by change in the lifestyle of people, where
people want to celebrate, and cake is an effective means of showing joy and affection. Consumers
are increasing to buy convenient cake. The global cake market has shown a recovery from
economic recession and is expected to record strong growth in the coming years. Factors triggering
the expansion of cake market include affordability, convenience and health benefits of baked
goods products. Demand for healthier fortified cakes has also driven sales in US and Canada.
2.4.2 Market Size
The Market size for cake industry in Canada is $3.060 Billion. The largest four players are
estimated to account for less than 15.0% of total industry revenue.
The annual revenue is $919 million with annual growth of 4.9% in 2012. The average profit has
been 18.7%, which employees nearly 18,943 people in Canada, with 2,807 businesses running full
time.
2.4.3 Market Gap
This is a very high potential market because of their so market gap in this sector from various
perspectives.
 Only 15% of total industry revenue are estimated to be captured by market leaders, which
says that the vast area of customer are untapped and since major players do not have major
share, it would be easy to enter the market.
 The market size is $3.060 billion but the revenue is only $919 million, which says that
around 67% of the market is untapped and hence there lies a huge opportunity with first
mover advantage to cater those areas of customer that have not been addressed.
 The market is growing and expected to grow at a higher rate of 5.2%, so definitely there will
be a rise in demand for cakes and this mismatch of demand and supply would lead to a gap
which can met effectively by entering the market at right time at the right place.
 Need for mass customization, health conscious, fresh organic cakes with DIY style of
business is lacking in existing industry which would be an advantage to penetrate the market
with unique selling strategy.
2.5 Competition
2.5.1 CompetitiveStrategy
It is very important to enter into the market adopting certain strategy that will help winning edge
over others.
Point of Differentiation
It is very much important for the brand to create a unique selling proposition and inherit certain
attributes in the product that would help the brand to penetrate and capture the market at a faster
space overtaking the current players. We will be differentiating us through extremely flexible
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15. product attributes and high quality of service. Our products would be different to other on the
context of “Hygiene”, “Health” and “low calorific content”.
Blue Ocean Strategy
A strategy that can lead to wide spread innovation, such that it spreads radically and would give
birth to a new market which nobody thought of earlier will help a company take miles ahead of
advantage than that of its competitors. Our focus is on DIY style of cakes, where customer can
design there cakes online or offline and cam raise an order. We would have the ability to provide
mass customization.
First Mover Advantage
Best way to be in the market is to be the first to take advantage of existing product and enjoy being
first to keep idea in front of the customers. We will be almost the first player in the domestic
market in Toronto, to launch our services online, where customers can book, order, design and get
deliveries through our online portals.
2.5.2 Competitors
Table 2.2(MajorBenchmark Supermarket Players)
Direct Competitors
Direct competitors are basically are those brands that do serve the same product having same
similar features and target the same customer segment with their try to place their product on the
same market and can take away the market share. The direct competitors in Toronto are Iris Segal
Cakes, Ola Bakery & Pastries, Cake & Co and Black Forest Pastry Shop.
In Direct Competitors
Indirect competitors are basically are those brands that do not serve the same product having same
similar features but target the same customer segment and hence their alternative product can take
away the market share. The direct competitors for cake industry would mainly be market players
from Bakery, Sandwiches industry.
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16. The indirect competitors in Toronto are Jennifer's Kitchen,Voila Gluten-Free,COBSBread
Oakville and Artisano Bakery Café.
But on the same front Supermarket can also be an indirect competitorwhere they would sell
varieties of cake and other substitutes that may take away our shares. The competing supermarkets
are Wal-Mart Publix, Marsh and Meijer.
Sales Forecast for competitors
Table 2.3
Competitors Brands FY 1 FY 2 FY 3
Iris Segal Cakes 32.30 $ 33.92 $ 35.61 $
Ola Bakery & Pastries 54.70 $ 57.44 $ 60.31 $
Direct Competitors
Cake & Co. 41.56 $ 43.64 $ 45.82 $
Black Forest Pastry Shop 34.46 $ 36.18 $ 37.99 $
Jennifer's Kitchen 37.87 $ 39.76 $ 41.75 $
Indirect Competitors Voila Gluten-Free Bakeries 21.98 $ 23.08 $ 24.23 $
( Bakery & Sandwich ) COBS Bread Oakville 25.67 $ 26.95 $ 28.30 $
Artisano Bakery Cafe 28.90 $ 30.35 $ 31.86 $
27,363.11
Wal-Mart Publix 23,900.00 $ 25,573.00 $
Indirect Competitors $
( Supermarkets ) Marsh 213.00 $ 232.17 $ 253.07 $
Meijer 196.00 $ 215.60 $ 237.16 $
2.5.3 Sustainable Competitive Advantages
Based our competitive strategy mentioned above, we need to have few competitive advantages
which include adaptability with time. This can be done by sticking to the following rules.
1. Price structure remains competitive
2. Our selection of cake designs is much more diverse and can be customized.
3. We are adaptable to our customers
a) Vegan cupcakes
b) Gluten-free cupcakes
c) Sugar-free cupcakes
d) Nut free cupcakes
4. We can adapt any cupcake design to any specific occasion
5. We deliver immediately at door step of customers
6. In an effort to help save the environment a percentage of our net profits go to the Conservation
Fund.
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17. 2.5.4 Technology leadership
Figure:2.1
Sources:http://www.emeraldinsight.com/journals.htm?articleid=1563060&show=html
Adopting continuous technical innovation, brainstorming and focusing on continuous
improvement would help in building technical competencies. Sustainable strategies can be adopted
to keep core technical competencies up to date with the current need in this sector.
2.6 Opportunities and threats
2.6.1 Opportunities
 There is a chance to capitalize on the changing market need where customer are looking more
into customized cake orders
 Vast area of cake market in Canada, Almost 675 of market size is un captured
 Online placing of orders, placing design and shopping for cake has not taken up at a large
scale
 People are becoming more and more health conscious and looking for low calorie cakes that
are hygienic and made from organic components.
 The use of ecofriendly technology has been becoming popular in the market
 There is lesser barrier to entry as very few players has captured vast market share.
 Domestic market in Toronto is booming and expected to have large customer base
 Cake market is growing and hence supply needs to be increased with increase in demand
 Changes in lifestyle of people to go living a life full of happenings, celebrations, occasions,
events, festivals, ceremonies have given a thrust to the cake industry
 Need for instant home delivery and online payment have significantly risen
2.6.2 Threats
 Competitors can steal our idea, imitate, copy or build superior products on our lacunae.
 Business may face trouble due to delayed breakeven and liquidity crisis
 Partnership in long term may become an important issues
 Breakdown in technological, online portals or maintenance can lead to unexpected shut down
of business.
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18.  Financial problems could threaten our first year’s success
 Time management could falter our productivity
 Substitute products can overtake our products
 Misunderstanding with suppliers can lead to cost conflicts
 Economy slowdown can lead to losses
 Growing inflation can put pressure on increase of cost which may have a competitive
disadvantage.
2.7 Sales Forecast
Table 2.4
The sales are expected to grow at an average of 7.7% in the first year and in two year the sales will
grow by 16%. On the first year the company would incur loses and net cash flow would be
negative, but in the second year it will be compensated and in the third year company is expected
to gives us significant profit.
2.8 Protecting the Business
2.8.1 Security System
Security system and CCTV would be installed in the shop to avoid any loss or damage due to steal
and robbery. This security system will be in a position to generate an alert in case of any ambiguity
and will be able to communicate to the staff working in the store and also to the top management
like Director and Board committee via Mobile commerce or SMS.
In case of theft or robbery, staff would be provided with intelligence surveillance system where
they can easily notify and alert to the nearest police station or emergency rescue ward through
mobile devise or an automated alert system enabled on the shop, that help notifying without letting
people know that an alert has already being send.
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19. 2.8.2 Insurance Policy
Wherever possible an insurance policy should be adopted. This will help in avoiding any losses
due to personal damage, natural disaster or catastrophe. Especially insurance should be made for
Electronic gadgets, LCD or LED TV in the store, software systems and infrastructure support
service. All staffs would be covered under insurance policy.
The insurance will be updated every time it gets expire and can help the business to get rid of any
larger future risk of damage caused to shop, business or staff.
2.8.3 Contingency Planning
It is very important to make proper budgeting and decide a backup plan in case the business
doesn’t operate as planned, deviates from actual cost that what was expected or goes bankruptcy.
A reserve fund has to keep aside as contingency, which can used to attain liquidity at the time of
financial crisis.
It is estimated that 6.7% of every investment and 7.8% of monthly profit would be kept aside as a
contingency to protect the business at bad times.
2.8.4 Environmental and Legal Issues
It is to me made sure that in no case our brand violates environmental or legal issues. A familiar
lawyer can be appointed on contract based to keep in track that everything is set correctly and that
there is nothing wrong which may lead to penalty in future. Corporate governance will be
maintained and auditing be done through external auditors to maintain the transparency and
credibility of our accounting system and align our financial statements up to standards which will
be released every quarters.
2.8.5 Risk Management
There are several risks that may come into picture during the business operations like lack of
resources at any particular festive seasons or holidays, break down in technology or limited access
to technical equipment, changes in the schedule of college going students, lack of training and skill
set of employees, unwanted halting of city due to strike or loss or damage due to natural disaster.
In such cases the team should be have prepared to take up a backup plan with the motive to solve
the inconveniences caused without affecting the course of the project. The risk assessment will be
continuously monitored and updated with weekly assessments in order to avoid misunderstandings
and reschedule the tasks if needed.
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20. 3.Marketing
3.1 Business Name
The name of the business is “Robin Hood Cake Café”. Robin Hood name has been taken in from
inspiring hero of English Folk, who was high skilled archer and swordsman. Here archer shows
that Robin Hood was very target oriented as he hardly missed the arrows on the target. The
swordsman shows that he was a charismatic leader. This two important components “Target
Oriented goal” and “Leaders in market” has been taken into perspective while naming the
business.
Other than this Robin Hood was known for helping the poor people by stealing from rich people.
Our brand does the same, where we extract profit from customers and donate 3.7% of profit to
support education for handicapped children.
Robin Hood at became a popular figure in the medieval age and we aspire to become the same at
this modern age.
3.2 Brand Image
Brand Identity
Robin Hood Cake shop will be known for core product is “DIY cake” where DIY stands for do it
yourself. Here cake will be produced based on the exact needs of the customers and will be
customized based on the specific requirement or order put by the customers. Customers themselves
can design the cake and give an order accordingly. Cakes decorative will be supplied and will be
available in handy where customers can choose the flavors, accessories and decorative items
available in cake decorative kits.
Brand Notion
Robin Hood cake will be focused with a notion of having hygienic, healthy, low calories, balanced
diet and organic ingredients need of customers. On the same front it would taste good and would
be available in variety of flavors. Our cakes will dedicate in creating specialty cakes for all
occasions which can fit to the individual needs of our diversified customer base.
Brand Value
Our business value would lie in three key attributes of business that is “Service”, “Sustain” and
“Contribute”. Building an environment for our customers where they get best possible service and
an experience that let them come again and again. Taking approach that is sustainable and help
retaining our business for a longer period of time.Believing in educating handicapped children to
raise their literacy level and give them moral support to live their life and grow like others.
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21. 3.3 Service/Product Mix
Figure 3.1
Product Category Flavors & Toppings Occasion & Festivals
Cakes: 1. Birthday
• Economical Cake 57 variety Banana
2. Cake Festivals
• Premium Cake, 13 varieties Blueberry
3. Marriage &
• DIY Cake (Customized) Butter Pecan
Weddings
Caramel
4. Anniversary parties
Salad cake: Cheesecake
5. Baby showers
• Mushroom salad with fresh Cherry
6. Valentine’s Day
chicken grilled chunks Chocolate
7. Christmas
• Spinach salad with grilled Chocolate Raspberry
8. New Year
shrimp Coffee
9. Family Functions
Cookies & Cream feat. Oreo
10. Bon Voyage
Miscellaneous: Cookie Cake feat. Oreo
11. Bridal showers
• Cold Beverages Green Apple 12. Congratulatory
• Custard Hazelnut 3.1
Figure celebrations
• Puddings 13. Graduations
Lemon
Strawberry, Banana 14. Holidays i.e., Easter,
Dessert Items: Christmas, Fathers’
• Dessert-punch bowl cake Pomegranate
Day, Mothers’ Day,
• Chocolate cover fruit Raspberry St. Patrick’s
• Drink smoothest Vanilla Day,
Watermelon Thanksgiving,
Teas and Coffees: Hanukkah, Kwanzaa,
Wedding Cake
• Green tea Earth Day,
• Coffee White Chocolate
Passover, Memorial
• Bottle water Day, etc.
• Lemonade 15. New Home
Welcoming
16. Retirements
17. Thank you giving
18. Other Occasions
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22. 3.3.1 Product Expansion Strategy
Figure 3.2
Sources:http://www.2020outlook.com/productStrategy.html
In this case we are looking to build a new product with unique features that would help to boost of
cake industry on a cost effective platform. However the market that it will be catering to already
exists and brand will try to establish within the existing industry. As per the Ansoff matrix product
development strategy has to be adopted.
3.3.2 Product enhancement
Figure:3.3
Sources: http://www.nousinfosystems.com/product_enhancement.php
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23. Product enhancement can be done my undergoing a product/service gap analysis by listing the
product with their features and existing brand catering in the same sector. In the matrix the areas
where product features are being neglected by most of the major market players but is very
essential can be targeted and a complete new product feature can be designed and upgraded.
It is important to choose the right person and technology at the right time to upgrade the product
feature. It is very important to identify the product’s new requirement and technical requirements.
Once it is finalised it is important to understand the business investment required and whether it
develop a break even situation or not. In case it’s financially feasible,a proper plan should be
developed and implemented. After implementation it is very important to monitor the new product
feature and keep maintaining and sustaining it.
Figure 3.4
Sources:http://productstrategy.squarespace.com/product-strategy- /
Moving too far to the right on the matrix can increase product development costs to an
unsustainable level. Moving too far upward on the matrix can require unsustainable levels of
marketing expenditures to increase the Company's visibility in unfamiliar territory.Here we will be
focusing on the core space with the development of new product.
 Most important cost involved in this sector will be the cost of transportation and while over
hauling and maintenance. Shipment of equipment’s can be optimized .The cost can be brought
down by locating in all important areas where such need arises.
 Proper inventory management and MRP (material resource planning) incorporated with Total
quality management on shop floor can help down to reduce the cost to large extent by
bringing down the wastage of resources. Reducing the entire cycle of service time would help
in cost reduction.
 Modern methods and use of IT solutions can help reduce the burden and cover more contracts
at limited time. A good scalable amount of leads and contracts can reduce the cost
significantly by economic of scale thus reducing the variable cost.
 A complete end to end value added supply chain collaborated with efficient partners, suppliers
and distributors would help to have a control on quality.
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24. 3.4 Pricing Strategy
3.4.1 Target Based Costing
Robin Hood Cake coffee will be designing a target based costing, where based on the ability of
customers to pay for a product; the product would be designed in such way that it can
accommodate the price for them. This pricing strategy would give a better prospective that we
understand the customer’s economical need and hence try to fit them based on their purchasing
power. It is basically a bottom to top approach of costing in which, at first we see at top that how
much the customer can afford to pay and then based on that cost the breakdown of prices are done
to each individual components and a price associated to it. It leads to standardization of product.
3.4.2 Value Pricing.
However for premium customer who are more concerned about ordering customized cakes, for
them vale pricing would be done. In this price more than the cost, the value that we are delivering
for a given cost will be of higher concern. Higher cost may not be an issue, if customer is getting
the desired quality for the paid price.It is basically a top to bottom approach of costing in which,
based on customer’s requirement or design all the components or items are gathered and they are
added one after other to calculate the total price, checking at each stage that for the price assigned
the value has been added to the product or service. At last a final price is quoted to customer for
their specific design. It leads to customization of product.
Especially in the case of custom orders, which are essentially a service, consumers will be led to
believe that they are getting a superior product.Our prices charged will be slightly higher than that
of our domestic competitors, mainly because we are striving for optimum quality in our products.
Table 3.2 (Price catalogue)
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25. 3.5 Distribution
The primary mode of distributing our product would be through our retail stores. In future we will
be letting our won franchise network to promote the product. However suppliers will be there to
meet our resource requirement.
Over a period of time, we will start distributing our cakes through other channels and retail outlets
like in multi-brand shopping mall where our products too would be available.We would provide
service that would create an ultimate experience for our customer and would attract them to come
again and again that would in turn promote brand loyalty. Our service will have Instant cake
preparation and home delivery at customers door step.
3.5.1 ERP enabled Systems
An ERP enabled tool that work on both e-commerce and m-commerce platform would be used to
integrate all the business process into one. It would connect between customers, staffs,
management team and staff on delivery and would help in making business transaction like
ordering, buying, delivering and storage very on simple online or offline.
System for Ordering
We would be able to take orders online, through m-commerce a mobile based application, e-
ecommerce an online based web portal where customers would be in a position to view the menu
and catalogues, watch out special offers and make their choice of cakes through drag and drop
features available. In case of customers who are looking for customized cake, can design a special
cake online through our simulation tool kit, that will help a customer to design his/her own cake on
the web through available set of wizards and then after finish the design he can finally place the
order through submit button. The orders would automatically come to the Staff at our outlet; with
auto generated mails send to the webmaster and director. The customers will have the option to
modify the order, reach out our staff in case of query through SKYPE enable video chatting, text
message chatting or a phone call through Skype. Other than that they can also communicate to us
through mails, phone or Fax.
System of Billing
Online processing of order will be available through the gateway payment facility which would
accept Credit card, VISA or master card, debit card for all banks in Canada and PayPal.They will
also be able to make payments through online banking or mobile banking system. On our shop to
we will be expecting cash/ cheque/ cards to process their transaction.
System of Delivery
We will have a network of home delivery in nearby areas, where while placing an order, the order
will be delivered at home once the cake has been made. Automatically a message would be sent to
the customer that the cake is ready and will delivered shortly, with details and phone number of the
person who will be delivering. On the same front the staff in charge of delivery would get
customer details and contact with address and mobile number. He updates the progress to
customers in case of any delay.
Our online team can monitor anytime the exact position of staff on delivery on Google maps
through android enabled GPRS tracking system. Manager can anytime check the status of a
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26. particular order that whether it is closed, opened or is in progress with percentage of progress
made.
System of Storing
An inventory tracking tool will help us to manage of our resources and material to be stored. This
software tool will generate automatic reports on the number of cakes ordered, their ingredients,
flavors, requirements of stuffs, toppings etc. and will generate a net summary on total requirement
of every detailed item in an hourly basis.
This system will let us know the shortage or excess of anytime and thus would help in maintaining
inventory at proper level with safety limit that would reduce the cost of storage.
The software would also be in a position to alarm when it sees that there is a chances that the store
will go out of processing capacity due to large orders or shortage of any resources to meet the
target in given timeline.
3.6 Promotion
We are expecting to come in touch with our customers through the internet by means of social
media like Facebook, promoting through twitter. A website will be freshly launched that will
dedicate in order to sell our product, will help in branding and promoting our brand value.
Other than promoting from internet, business corporate cards, brochure with menu and
product selection will help in promoting our brands. Pamphlets, posters and flyers will be used in
Streets of Toronto to attract customers. Use of media, newspaper will too be used to promote our
brand and products and convey that how we are unique over other players.
We hope to contact our customers through the Internet by the use of social Networking sites, such
as Facebook, and our own website in order to sell our products as Well as attract people to our on
location business. Beyond an Internet connection, we will incorporate business cards, brochures
that provide our menu and product selection, a Window display that will be a direct aesthetic
appeal, and in the beginning use Advertisements in the newspaper to introduce our new business.
Various modes of Promotion would be as follows
3.6.1 Sales Promotion
Free Samples would be distributed to people in malls and near our shop to try and experience our
product. This sampling will help in promoting our brand. Weekly Sale Item would help in raising
the sales to a new level at end of every weak. Organizing Trade showson retail mall would help
people come I touch to the brand and be aware of our products in the market.
Sponsorship or corporate social responsibility will be a catchy way to attract mass youth at a
time.
3.6.2 Direct Marketing
Direct marketing can be an effective tool to promote brands through media sources like
Radio.Two weeks prior to grand opening of Robin Hood Cake café, several 30-second plots of
announcement will do in radio FM of Toronto. The advertisements will be aired 2-5 times an
everyday which will help in grandopening. Local Newspaper advertisement would help in raising
awareness as well as credulity of the brand , as Newspaper are being read by mass population and
is also trusted upon the facts portrayed by newspaper.
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27. 3.6.4 Viral Marketing
Internet marketing would help in gaining attention of huge population through word of mouth.
Blogs and word press can be used to promote opinions on the product and how people would love
to have it. A video promotion or illustrators on YouTube can give an extra mileage to viral
marketing.
Social networking forum like Facebook, MySpace have communities where posting can lead us to
footfalls or posting of link that direct to company website would generate traffic for awareness.
Website will help customer direct, place order, watch brochures, make payment and get order
online. Sending of Direct Mail to people from customer’s database and bulk SMS to target
customers can help us achieving a high footfall in our shop.
3.6.5 Display marketing
Posters, banners can help us attract attention of customer in an unconscious state while are
travelling on road or walking. Pamphlets, flyers put inside newspaper or supplied at door step can
be of great help. Digital boards and display can make an added advantage.
3.6.7 Alliances
Our brand will work with some of the corporate companies in the area to display flyers in their
gallery areas. The expectation is that staff members will see the flyer and visit the café. Or
strategic alliances to share common resources while branding where both of us will be marketing
each other’s product would help in getting higher sales volume.
3.7 Sales plan
We will be focusing on following areas to generate higher sales
 Allocating sales quota for each day and target quota for a month that will be set as a
benchmark to be achieved.
 Sales success would require planning. A sales strategy would be formulated to achieve sales
success in stipulated time by setting reward system for marketers and ensuring superiors
quality service and value pricing.
 Sales promotion technique like discounting, providing coupons, seasonal offers and free gifts
will boost up the sales at the odd times.
 Constantly Reevaluating sale potential on a monthly basis will give idea on if any changes
required on the existing advertisement techniques.
 Free home delivery would attract customer to make more orders sitting at their homes.
 Bringing the concept of loyal customer pricing will be of worth, where more a customer buys
our product, more is the discount/bonus/reward points the customer gets on buying a product
next time.
 The café will review its comprehensive tactical plan to identify weakness in its components. If
there are components that are not delivering then they will be identified and altered to produce
the desired results.
 Sales will be boost up varying the promotional strategy and devising a new sales strategy
based on expected demand, market potential and festive seasons.
 Grand promotions at festive seasons, with special offers and combo packages can help
customer to buy in higher volumes.
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28. 4. Operations
4.1 Space and Equipment
Space
Initially a space of 4500 square feet will be required to set up the cake shop outlet. This space will
be taken indowntown area which located along the Yonge Street starting from the College Street to
Queen Street in Toronto.
Site expenses for private office available in down turn area would be $300 / 100ft². The space will
be taken on lease initially for 4 to 5 years. So with an expectation of a shop of 4500 square feet, the
expenses will go about $13500 per year. However the cost of the area and land is increasing by
11.2% hence every year is the site expenses will go high. Also the maintenance cost for land and
building is increasing by 7% every year in Toronto.
Table: 4.1
Expenses Year 1 Year 2 Year 3
Land Licensing Expense $1,200 $0 $0
Lease for Office Space (4500 Square ft.) $13,500 $15,012.000 $16,813.44
Site & Building Maintenance $450 $481.50 $515.21
Municipality Expenses $200 $214.00 $228.98
Electricity, Water and Other $750 $802.50 $858.68
Total Expenses $16,100 $16,510 $18,416
Equipment’s
The equipment’s that would be need would include 2 iMac 21.5” (3.1 GHz), Domain
Name,website hosting service, Business License, commercial food mixer , Refrigerated
Merchandiser, Doors, Diamond Series , Double Standard Roast, Oven, Ingredients ,Cell Phones ,
Desk Phones , Cooking supplies, Delivery Van , Extra .
Table 4.2
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29. 4.2 Organization
4.2.1 Organization Structure
Figure 4.1
The management team will consist basically President/owner who will look into the entire
operations and execution of business. The Web master/marketing specialist will be supervised and
report to president. All other employees and staff will report to the Web Master/Marketing
Specialist. Web/master will be the person who would be driving the entire marketing needs of
business and would be generating leads for the business. Since our company has the convenience
of being a small business, the President can step in at any point to help the company run smoothly.
4.2.2 Personnel Plan/Job Descriptions
There will be all total 3 full time positions and 3 part time positions on contract, which would
include cake artist, Web designer and delivery person. The business will be operating all 7 days a
week. Online orders will be accepted all the time 24 hours a day. The working hours of business
would be 7 a.m. – 8:00 p.m. The job description would be as follows
Web Master/Marketing Specialist (1 Full Time position)
His/her responsibilities are:
a) Design and maintain website
b) Process online order and raise a request
c) Handle customer inquiries
d) Manage e-mail list
e) Maintain blogs
f) Post online press releases
g) Collect customer database
h) Implement sales techniques
Bakers/Creative Cake Artist ( 2 Full Time position)
Their responsibilities are:
a) Processing and login in customer order
b) Scheduling an order on calendar and start processing it
c) Handling customer inquiries/confirming customer requirements
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30. d) Creating customized cakes
e) Scheduling deliver
f) Handling orders that come offline in the outlets
g) Pricing for customized cake or specific orders
Delivery Driver (2 Full Time position)
Their responsibilities are:
a) Confirming details of delivery with location and time
b) Communicate with staff and customer
c) Contacting customer to notify expected time of delivery and deliver receipt
d) Loading product in the vehicle
d) Delivering product
e) Thanking customer and leave business card
f) Maintaining vehicle’s resources like gas, oil and performing general repairs, overhauling etc.
4.3 Management team
4.3.1 Employee Engagement.
Figure 4.2
Engaging employee and keeping them motivated in work is very important. Alienation of employees
can result in low productivity. An individual should never get detached from his/her work leading
which would result in low productivity. Most of the companies give a lot of emphasis on this. It also
helps in building team synergy.
It is very important that an enthusiast leader takes care of the entire process. An employee should be
surrounded by supportive coworkers, should be satisfied with job and career within a high performing
organization. As a result we industry owner’s get a committed set of employees who are satisfied and
loyal to their customers. Organizations retain a high performing efficient workforce making it a
productive and profitable organization.
4.3.2 Proper goal setting.
Setting up of goal is very important. A goal is effective only when every individual's personal
goal is inclined with the organizational goal and if both of these goals are different then an
individual gets detached from his goals which may lead to alienation. To set a good goal we should
train employees to build up a specific goal which should be measurable.
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31. The goals must be assignable to individual or group and should be realistic enough to attend those
goals within the stipulated time. However every goal should be time based and associated with a
deadline that is feasible enough.
Figure 4.3
4.3.4 Managing work force diversity
Managing work force diversity is very important due to varied culture of people belonging to
different society. When people are treated indifferently and do not resemble or fit in a particular
society/environment of work, they get isolated leading to alienation. Most of the top marching
companies have adopted effective management strategies to overcome differences caused by work
force diversity to avoid alienation.
It is to be kept in mind that the policies are fair for every individual irrespective of gender, ethnics,
caste, culture, gender. All employees should be made satisfied and engaged in work equally.
Diversity of each individual should be considered and their sentiments should never be
disappointed or discouraged just because they are different.
Figure 4.4
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32. 4.3.5 Adopting Flat Organizational Structure
Figure 4.5
Instead of adopting a traditional hierarchy based organizational structure a flat organizational
structure would remove the communication gap and would help in free cob – web networking mode
of communication where people can express freely removing the power apart and meeting efficiency
in team work. Most of the contemporary companies are adopting it because lack of communication
over a longer period of time can lead to alienation.
4.4 Regulations
 Our brand will be liable to pay compensation for damage and losses due caused by any of our
product.
 We would encourage scientific and technological research in this industry to extent our
technical reach. Any unit or individual who achieves an outstanding outcome will be rewarded.
 Our brand wouldsafety of customer and ensure that it do not have any chemicals or
ingredients that is not good for health.
 The complete department who is taking charge cake processing will held e responsible for any
dispute in accounting system or violation of customers right.
 All technical control system would be centralized.
 We would strictly adhere to the socialist operation and management, pursuing the aim of
serving people, improvises operation and management.
 We shall care for and abide by environmental regulations, emission on chemicals and we
would certified by government body.
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33. 6. Finances
6.1 Start-up Requirements
Table 6.1
Survival of Business
A minimum amount of $11,687has to be withdrawn to meet the monthly expenses for the survival
of business.
As expected every month $5,730 has to be withdrawn to meet operational expenses, minimum $
800 and $4800 for the payment of VAT, Sales Tax and Bill respectively and an amount of $ 357
for Long term liabilities
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34. Table 6.2
Minimum Expected cash to be withdrawn from business per month
Minimum Monthly Expenses Amount
Cash spending for Monthly Operations $5,730
Minimum VAT that would be Paid $800
Minimum Bill Payments $4,800
Long Term Liabilities Repayment $357
TOTAL WITHDRWAL $11,687
From the cash flow statement in in table 6.5, we have identified the average minimum amount cash
that has to be withdrawn from business and has been listed in table 6.2.
Survival of Owner
The minimum amount of money that I would have to withdraw from business to meet my personal
obligations would be $15,760, of which 60% of the amount which is $ 9546 will be kept as capital.
Further 20% of this capital that is $1890 will save as a contingency amount to meet the emergency
or situation when business goes out of liquidity or cash.
In long run business will generate profit, 7.8% of profit will be also kept aside as contingency.
6.2 Owner’s Investment
The fund required by business would be $30,000. Hence a capital of 75% that is around $22,500
will be invested from the owner’ side. No loans will be taken from banks to fetch this money. The
capital of owner would be invested mainly in assets, buying equipment’s and allocating space for
retail outlets as they are prime need. The amount that will obtain from other means would be used
for marketing.
6.3 Borrowed Money
Initially no amount will be borrowed in the form of loans. We will not indulge with bank and take
loan as it would lead to pay back of interest which would decrease our profits over period of time.
All borrowing would be made from family, friends, venture capitalist and public. It will be
dividing in the following way.
• 5% of capital be raised from Family and Friends which accounts to be around $ 1,5000
• However 10% of funds would be raised from one or at max two capital ventures which
would account for $3,000
• Rest 10% would be open to public trade market to invest which would account for $ 3,000.
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35. 6.4 Balance Sheet
Table 6.3
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36. 6.5 Income Statement
Table 6.4
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37. 6.6 Cash Flow Statement
Table 6.5
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