Harvard Case - Sugar and Spice Bakery: The Catering Opportunity
"Sugar and Spice Bakery: The Catering Opportunity" Harvard business case study is written by Elizabeth M.A. Grasby, Jessica Bond. It deals with the challenges in the field of Entrepreneurship. The case study is 4 page(s) long and it was first published on : May 19, 2017
At Fern Fort University, we recommend that Sugar and Spice Bakery (SSB) pursue the catering opportunity with a strategic approach that balances growth with operational efficiency. This approach involves developing a dedicated catering division, investing in infrastructure, and implementing a robust marketing strategy to attract new clients.
2. Background
Sugar and Spice Bakery is a successful small bakery in a growing suburban area. The bakery?s owner, Sarah, is considering expanding into the catering business to capitalize on the increasing demand for bakery services in the region. The bakery?s current customer base primarily consists of walk-in customers and online orders. Sarah sees catering as a potential avenue for significant revenue growth, particularly with the upcoming wedding season.
3. Analysis of the Case Study
This case study presents a classic opportunity for a small business to expand its operations. We can analyze the opportunity using a framework that considers the following aspects:
- Financial Analysis:
- Revenue Potential: The catering market offers significant potential for revenue growth, especially with the increasing demand for personalized and high-quality bakery services.
- Cost Structure: SSB needs to carefully analyze the costs associated with catering, including additional labor, ingredients, equipment, and delivery.
- Profitability: SSB needs to develop a pricing strategy that ensures profitability while remaining competitive in the market.
- Operational Analysis:
- Capacity: SSB needs to assess its current production capacity and determine if it can handle the additional demand from catering orders.
- Infrastructure: SSB may need to invest in additional equipment, storage space, and transportation to support the catering business.
- Logistics: SSB needs to develop efficient processes for handling catering orders, including scheduling, production, delivery, and customer service.
- Marketing Analysis:
- Target Market: SSB needs to identify its target market for catering services, which could include businesses, individuals, and event planners.
- Marketing Channels: SSB should explore various marketing channels to reach potential customers, including online platforms, social media, and local partnerships.
- Brand Positioning: SSB needs to develop a strong brand identity and messaging that highlights its catering capabilities and differentiates it from competitors.
4. Recommendations
To successfully enter the catering market, SSB should take the following steps:
1. Develop a Dedicated Catering Division:
- Structure: Create a dedicated catering division within SSB with a dedicated team responsible for managing catering orders, client interactions, and operational logistics.
- Staffing: Hire additional staff with catering experience to handle the increased workload.
- Processes: Develop standardized processes for handling catering orders, including order taking, production planning, delivery, and invoicing.
2. Invest in Infrastructure:
- Equipment: Invest in additional equipment, such as commercial ovens, mixers, and display cases, to handle the increased production volume.
- Storage: Expand storage space to accommodate catering supplies and finished products.
- Transportation: Invest in a reliable delivery vehicle to ensure timely and efficient delivery of catering orders.
3. Implement a Robust Marketing Strategy:
- Target Market: Identify and target specific market segments, such as wedding planners, corporate event organizers, and individual clients.
- Marketing Channels: Utilize a mix of online and offline marketing channels, including social media, local advertising, and partnerships with event venues.
- Promotional Offers: Develop attractive promotional offers and packages to attract new customers.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: SSB?s core competency lies in its high-quality bakery products and its commitment to customer satisfaction. These strengths can be leveraged in the catering business.
- External Customers: The catering market offers a significant opportunity for SSB to expand its customer base and generate new revenue streams.
- Competitors: SSB needs to be aware of its competitors in the catering market and develop a competitive advantage through its unique offerings and pricing strategies.
- Attractiveness: The catering market is attractive due to its high growth potential and the increasing demand for personalized bakery services.
- Assumptions: These recommendations are based on the assumption that SSB can successfully implement its catering strategy and attract a significant customer base.
6. Conclusion
By taking a strategic approach to entering the catering market, SSB can capitalize on a significant growth opportunity and expand its business. The key to success will be to balance growth with operational efficiency, ensuring that the bakery maintains its high standards of quality and customer service.
7. Discussion
Alternatives:
- Partnering with an existing catering company: This could provide SSB with access to existing infrastructure and expertise. However, it could also limit SSB?s control over its brand and operations.
- Focusing on a niche market: SSB could specialize in a specific type of catering, such as wedding cakes or corporate events. This could allow SSB to build a strong reputation and attract a loyal customer base.
Risks:
- Increased costs: Expanding into catering could lead to significant increases in operating costs, which could impact profitability.
- Competition: The catering market is competitive, and SSB needs to differentiate itself to attract customers.
- Operational challenges: Managing the logistics of catering orders can be complex, and SSB needs to ensure efficient processes are in place.
Key Assumptions:
- Demand for catering services: The assumption is that there is sufficient demand for catering services in the area to support SSB?s expansion.
- SSB?s ability to manage growth: The assumption is that SSB can effectively manage the increased workload and maintain its quality standards.
8. Next Steps
- Conduct a thorough financial analysis: Develop a detailed financial plan to assess the feasibility of the catering expansion.
- Develop a marketing plan: Create a comprehensive marketing plan to reach potential catering clients.
- Invest in infrastructure: Acquire the necessary equipment and storage space to support the catering business.
- Hire additional staff: Recruit and train staff with catering experience.
- Pilot test: Launch a pilot catering program to test the market and refine processes before fully committing to the expansion.
By taking these steps, SSB can successfully enter the catering market and achieve its growth objectives.
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Case Description
In 2016, the owner of a small community bakery in Strathroy, Ontario, was planning the future of her business, since the lease on the store would expire soon. She was considering the financial feasibility of closing the bakery and focusing on only catering events. The bakery had not earned a profit as of late, and some local eateries were significant competitors. Running a bakery full time with two young children had been overwhelming at times, and she needed to consider a change to better manage her home and work life. She intended to continue withdrawing her annual salary of at least $40,000 under this catering-only option. She was concerned for the welfare of her four employees but also wanted to begin saving for her children's education. This owner had to decide which option would be most appropriate for her needs.
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