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Accounting

Costa Rican Sweet Cake Business Plan

Tara HIll, Elizabeth Pittman, and Stephanie Rojas

Costa Rican Sweet Cake is a Limited Liability Company (LLC) that will be part of the dessert industry. We produce cakes for college students with a reputation for integ-rity, trust, and quality customer service backed by excellent management concept. We bring happiness with a slide of our Costa Rican delicacy and happiness is the key of success. Our main responsibility is to deliver a product of quality and wholesomeness to every customer that has a need for a unique sweet. By having a reasonable price for the product, our company will satisfy the need of our target market and sup-port our company goals within three months. It is our vision to expand to a more professional and sophisticated business sector and by doing this it will ensure our company’s long term goals of reaching a larger customer base outside campus. The introduction of an international product is challenging; however, with the simple homemade recipe it will bring comfort to every customer and make them less skep-tical about trying our product. Our business was established in 2011. There are three owners: Stephanie Ro-jas (President and CEO), Tara Hill (Vice President of Finance), and Elizabeth Pittman (Vice President, Project Manager). Our company is producing a sweet cake that is made with a distinctive homemade Costa Rican recipe. Rojas was homesick after coming back from her country Costa Rica; she decided to share her favorite recipe with her colleagues and started a company. Our company is located in LaGrange College campus. Therefore, our main selling location will in the Plaza which is a central location to students, faculty, and sta!. Each member will contribute $200 each which will be included in the startup capital. Also, our company will be asking for a loan of $500 which is needed to cover the "xed and variable costs. Costa Rican Sweet Cake is selling each unit for $1. Thirty minutes to produce is required twenty-"ve units and only one employee is needed for the process. This employee is paid minimum wage labor of $7.50 per hour. The unit material cost is $0.35 and the direct labor cost is $0.15 per unit. Our company is expecting that our sale are going to increase in the second month and decrease in January because part of the campus population will be away during Jan Term. We planned to pay the loan back with interest in a period of six months. This will ensure the sustainability of our company and build credibility with the bank and investors.

1. Executive Summary

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Our primary research method was a survey that was distributed with a sample of our Costa Rican Sweet Cake. This process was done to "nd out how the population of LaGrange College would respond to our international product. This survey was a part of our marketing strategy along with a Facebook page and the #yers that we will post in speci"c locations on campus.

2. Description of Proposed Business

Costa Rican Sweet Cake is a small company dedicated to bringing unforgettable sweet moments to customers who want to make a dessert a unique experience. Our company is producing a sweet cake that is made with a distinctive homemade Costa Rican recipe. Our baking and packing process is located in Candler 303, La-Grange College, LaGrange, GA. Therefore, Costa Rican Sweet Cake has the taste, quality, and artistic designs that will provide enjoyable dessert for our faculty and students of LaGrange College.

3. Industry Analysis

Costa Rican Sweet Cake is introducing a new creation at the LaGrange College Cam-pus. There is no doubt that we are competing with a variety of similar businesses. We must compete against the ideas that dessert is something that only follows a special dinner. We want every day to be a reason to celebrate and college students love to celebrate! Price may be a factor when competing against the cafeteria due to no out of pocket expense, but the college students, faculty, and sta! are willing to pay a dol-lar for a slice of Costa Rican heaven and rave about a better quality product. We believe they will be equally as willing to spend a little extra for an extraordinary dessert in a warm and friendly setting. Also, Costa Rican Sweet Cake has the challenge to compete against big com-panies, such as Publix, Kroger’s, Wal-Mart, and local bakeries which all ready estab-lished loyal customers. The comfort factor also plays an important role in consumer decisions about sweets. We feel that people are more apt to try desserts that are more comforting to them. While making our desert, we mix the ordinary with the exotic, but we will always present our desserts in a comforting manner.

3.1 SWOT Analysis

Strengths:• No local competitor for a Costa Rican dessert. • Portion size.• Product is diverse and international.• Delivery capabilities

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• Convenience• Quality • Short cooking process. • A!ordable price for college students, faculty, and college organizations. Weaknesses:• Limited space for mass production.• Marketing and advertising in the community.• Lack of sta!.• Lack of diversi"cation of products.• Limited customer base.Opportunities:• Growth and expansion.• Introduction of a product to di!erent cultures.• Sell our recipe• Reach local consumers • Expand internet possibilities • Improve our equipment. Threats• Competitors with more resources.• Rejecting product because of lack of culture myopia.• Slow cash #ow.• Extinction of family traditions.• Economy recession.

Costa Rican Sweet Cake is introducing a new creation at the LaGrange College Cam-pus. There is no doubt that we are competing with a variety of similar businesses. We must compete against the ideas that dessert is something that only follows a special dinner. We want every day to be a reason to celebrate and college students love to celebrate! Price may be a factor when competing against the cafeteria due to no out of pocket expense, but the college students, faculty, and sta! are willing to pay a dol-lar for a slice of Costa Rican heaven and rave about a better quality product. We believe they will be equally as willing to spend a little extra for an extraordinary dessert in a warm and friendly setting. Also, Costa Rican Sweet Cake has the challenge to compete against big com-panies, such as Publix, Kroger’s, Wal-Mart, and local bakeries which all ready estab-lished loyal customers. The comfort factor also plays an important role in consumer decisions about sweets. We feel that people are more apt to try desserts that are more comforting to them. While making our desert, we mix the ordinary with the exotic, but we will always present our desserts in a comforting manner.


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4. Mission Statement

Costa Rican Sweet Cake believes that our main responsibility is to provide the best service to customers that are considering buying a sweet cake for their special occasions. We are a college based business that has expectations of growth and success. Our unique Costa Rican family recipe will change our customer’s vision of regular cakes. We love what we do; therefore, we work each sweet cake in its unique and yummiest way without hurting your wallet.

5. Company Objectives

• Gain target customers and market our new product on campus. • Satisfy the needs of our target market and support our company goals within three months.• Expanding our business from a college based business to a more professional business sector. • The company’s overall objective is to satisfy our market segment that demands higher quality products, and to maintain a steady growth in sales volume that will sustain the company for future years.

Our company, Costa Rican Sweet Cake has decided to enter into a Limited Liability Company. It combines the advantages of both a partnership and corporation. We would not be held personally liable for most events occurring within the company and also our assets will not be held accountable for the company’s debts. There is no double taxation coming from this business industry.

6. Management Plan

6.1 Legal Form of Organization

6.2 Quali!cations of Management Team

Our management team consists of three women: Stephanie Rojas, President and CEOTara Hill, Vice President, FinanceElizabeth Pittman, Vice President, Project Manager Their backgrounds consist of more than 20 years of experience.

Our President and CEO have a total of six years of corporate experience. Rojas is an active member of the Honor Council, International Student Organization, and Stu-dent International Free Enterprise (SIFE). She has been involved in numerous me-diations and presentations. Our president is part of the Tutoring Center for Spanish and accounting; in addition she acquires bilingual capabilities which will not limit

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communication with our target market. Rojas has organizational, computer, and operational skills that makes her very quali"ed to help start our business. Our Vice President of Finance has a total of eight years of corporate development with corporations such as accounting, administrative, merger and acquisition and banking experience with other "nancial institutions. Hill has experience in a bank-ing industry which involves reading and analyzing "nancial reports and projecting future forecasts for budgets. Her experience of "nancial reports in Bank of America and customer service bene"ts our company. Also our Vice President of Finance has leadership skills developed as an active member of the Honor Council and SIFE. Our Project Manager has ample leadership experience being on the executive council of Phi Mu holding the position of Director of New Members. Pittman is Pres-ident of her pledge class and also a Teacher Assistant for a freshmen cornerstone class about leadership. Our Project Manager has a total of six years of managing that involves recruiting, training, and overseeing "nalization of projects.

6.3 Organizational Structure of the Business

™ is divided into three sections: Rojas will handle managing, marketing and overall operation which includes formal meeting, advertising, and research. Hill is respon-sible for the "nancial statements, budgeting, and supply management. Pittman will handle production, time lime management, and distribution. Costa Rican Sweet Cake is committed to distributing the work load equally among the employees by using strengths and experience. (See diagram, appendix 10.1)

7. Product and Production

Costa Rican Sweet Cake will be operating on campus in a dorm facility located at La-Grange College. Our three employees are committed to operate in a clean and safe environment. We promise to use high quality ingredients and modern equipment which will make a superior product. Our product will be done in small batches to ensure the "nest ingredients and detailed care is taken during the process. Our product will be carefully packaged with the latest technology to ensure whole-someness. The presentation will depict a high quality product and authenticity of the Costa Rican culture. This product will be marketed as a unique item in college campus atmospheres. Our product will be available all year round for the enjoyable experience. Suppliers, employees, and all who we associate with will be treated with all due respect and acknowledgment. Our costumer will retain high customer base, employee retention, and to maintain our commitments as good corporate citizens. Costa Rican Sweet Cake has only three employees; however, only one employee is needed to bake and prepare the cake. There are three cakes that are forecasted to sell in November. The labor hours for this cake is .5 and the cost per labor hour is $7.50 therefore, the total direct labor cost is $11.25. There are "ve cakes that are


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forecasted to sell in December. The labor hours for this cake is .5 and the cost per labor hour is $7.50 therefore, the total direct labor cost is $18.75. There are three cakes that are forecasted to sell in January. The labor hours for this cake is .5 and the cost per labor hour is $7.50 therefore, the total direct labor cost is $11.25.

7.1 Equipment

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Blender Mixer Oven Refrigerator 3 Mixing Bowl Non-stick baking pan Measure Cups 1 Tea Spoon 1 Fork Rubber Spatula Plastic Wrap Packaging

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6 Eggs

1 ! cup of flour

1 cup of sugar

1 tea spoon of Vanilla extract

1 tea spoon of Baking powder

1 can of Condensed milk

1 can of Evaporated milk

1 quart of Heavy Whipping Cream

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Preheat the oven to 350 degrees

Separate six egg yolk from the eggs whites in two separate bowls.

Whipped the eggs whites until they are light and fluffy.

Whipped one egg yolk at a time into eggs whites until all is mixed evenly.

Add one cup of sugar to the mixture once spoon full at a time.

Combine one and one half cup of flour with one tea spoon of baking powder into a separate mixing bowl. Take this mixture and mix it to the egg and sugar mixture, one spoon full at a time.

Evenly pour mixture into a non-stick baking pan.

Cook in the oven for 12 minutes. Do not open the oven during the first six minutes of cooking time.

When cake is done poke holes through all the cake with a fork.

Making the milks mixture:

Combine one can of evaporated milk, one can of la lechera milk, one quart of heavy whipping cream, and one tea spoon of vanilla extract in a blender.

Blend for 5 seconds. Then pour the milk mixture evenly over the warm cake.

Let it sit for two hours �

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Decorating

Ingredients

1 container of whipped cream 1 jar of cherries

Directions

�� Wrap cake in plastic wrap and refrigerate overnight.

Take the cake out of the refrigerator the next morning and remove plastic wrap.�Take the cake out of the refrigerator the next morning and remove plastic wrap.�

�� Spread a thick layer of whipping cream over the whole cake. �� Spread a thick layer of whipping cream over the whole cake.

Wrap cake in plastic wrap and refrigerate overnight. Take the cake out of the refrigerator the next morning and remove plastic wrap. Spread a thick layer of whipping cream over the whole cake. Place cherries on top of cake as desire. Eat and enjoy.

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�Wrap cake in plastic wrap and refrigerate overnight. Take the cake out of the refrigerator the next morning and remove plastic wrap. Spread a thick layer of whipping cream over the whole cake. Place cherries on top of cake as desire. Eat and enjoy.

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8. Marketing Plan

8.1 Target Market

Costa Rican Sweet Cake is has the commitment to create a product that will be a!ordable and enjoyable to our student body. With the students body our com-pany has di!erent student organizations such as sports teams, sorority, fraternity, or other social groups that will increase our market by all the annual events hold. The second target markets are faculty and sta! members. The "nal target is people in our community that hear about our product.

8.2 Customer Needs and Product Characteristics

Costa Rican Sweet Cake realizes that each target market has its unique needs and characteristics. Some students complain that the dessert section of the cafeteria is not of high quality and authenticity. Our home made product will ful"ll those needs. 90% of the people who were able to take our survey were positive to buy and order our product. Also, our company understands that students who are part of sorori-ties and fraternities have di!erent events that require a sweet treat with their logo. Also, our second target is a more mature and knowledgeable group of customers that are more open to new desserts. Our company is expecting that these custom-ers will buy the whole pan. (See appendix 10.2 for the complete survey description.)

8.3 Pricing

After careful research Costa Rican Sweet Cake estimates that each pan of sweet cake produces twenty-"ve units. We will sell each unit for $1 so that equals $25 per pan in units. Our company will be sale the whole cake for $15. Our competitors, La Tienda and Publix, o!er a similar product; however, they only o!er a unit for $2.75 at La Tienda and $6.59 at Publix. Costa Rican Sweet Cake has the advantage of be-ing on located on campus because it will satisfy the needs of customers without having to drive to our competitors.

8.4 Distribution

Costa Rican Sweet Cakes will be selling our products directly to the customers. With the Facebook, email, or telephone orders we will deliver it to the consumers. When the company expands our goal is to have contracts with retail outlets and local stores. Costa Rican Sweet Cake is very committed to build a close relationship with each client which is why we are want to create our own sales force.

8.5 Promotion

Our company decided to have a small marketing campaign. Nowadays, internet is so global that our company took advantage of it to have mostly free marketing. As planned we are going to send out a massive email to campus students, faculty

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members, and sta!. Then set up a Facebook page that will be bene"cial to know how many customers like it and how many people are talking about it. Also, this page will be used to take orders for future production. Then as planned we are go-ing to give away samples of our product to students, sta!, and faculty. Finally, we will distribute #yers on designated locations on campus. We project that by De-cember, the word will be out about our product and this will be part of our free marketing strategy.

9. Financial Plan

9.1 Financial Assumptions

Costa Rican Sweet Cake will not have credit sales, only cash because this will assure a quicker cash cycle. Each LLC member of Costa Rican Sweet Cake will contribute $200 to the contributed capital which totals $600. This contribution will be included in the startup capital for the company. In order to guarantee success, our company will be need a $500 loan from the bank which will be needed to cover our "xed and variable cost. Costa Rican Sweet Cake is planning to depreciate the equipment used for 5 years. We are expecting that the loan has a tax rate of 35% and prime of 6%.

9.2 Breakeven Point Assumptions

Sales price: $1Unit variable cost: This includes materials per unit, napkins, spoons, cupcake liners, and labor per unit.Fixed cost: This is depreciation of equipment, water, electricity, and administrative salary

November December January


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9.3 Sales Forecast

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Our company forecasts that one cake produces twenty "ve units. Our selling price is $15 per cake and $1 per unit. Costa Rica Sweet Cake is forecasting a total of 12 cakes which is equivalent to 335 units within three months.

This chart explains how many cakes and units are going to be produced in each month.

This chart demonstrates the pro"t made per cake and per units. With this informa-tion we are able to base all our "nancial statements on units produced.

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9.4 Proforma Income Statements

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10. Appendix: Customer Survey and Results

We cooked a cake and were able to take forty eight samples out of it. We distributed the samples among the LaGrange College students, sta!, and faculty along with a short survey.


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The results of the survey concluded that 90% of the population was interested in our product. This survey helped us to reach a small representation of our target market which represented the entire college population. With this information we are able to ask how much money they were willing to pay and 74% of the survey takers were willing to pay $1.50 for our product. Most individuals preferred to eat sweets once a day during dinner time. The signi"cant data taken from the survey was the positive rating of our sweet cake of 60%. These inform us that Costa Rican Sweet Cake has future customers in a demanding market

11. Results

12. References

www.irs.gov

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