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Running Head: Business Plan Milestone Two1Fais Dough- Dough Bakery Business Plan Milestone TwoNakita LambertOL-317: Small Business Management Professor Dilligard Southern New Hampshire University
Business Plan Milestone Two 2Environmental Analysis A business environmental analysis is a “systematic process by which environmental factors in a business are identified, their impact is assessed, and a strategy is developed to mitigate and/or take advantage of them.” (O’Farrell, 2016) At Fais Dough-Dough to complete an environmental analysis we have decided to utilize a SWOT Analysis. A SWOT Analysis is a system in which a business can assess and list their Strengths, Weaknesses, Opportunities, and Threats. By completing a SWOT Analysis, a business can evaluate their internal and external factors and how these factors affect the business. SWOTStrengthsWeaknessesVariety of products Products in smaller portion sizesOur Take and Bake Dough Products that are Gluten Free and Vegan Friendly Use of Non-Gmo Products Our company goal/guaranteeOne Baker Currently run out of my home Several Local Bakeries each known for their specialized products New among the bakery marketOpportunity’sThreatsDelivery Options Online Ordering Regional/Cultural Specialty DessertsCompetitor Pricing Competitor Experience No current employees Economic downturn Our goal/guarantee at Fais Dough-Dough Bakery of offering “quality sweet treats that add just the right amount of sugar because sometimes life can throw us too much spice” (Lambert, N., 2020), is not only branding our business but we are setting ourselves apart from our local competitors. Offering a variety of products that are smaller portion sizes, our fresh takeand bake dough, as well as options that are gluten free and vegan friendly, we are broadening ourtraditional target market base to an untapped market in the local area. By remaining a smaller bakery that is family owned, we are allowing our business to create lasting customer