Cake Palace Retail shop sales bakery products from the internal bakery and other external products. As a bakery shop, bread compliments are one of the best selling external products we sell. Surprisingly, we discovered that some of the bread compliments, peanut butter, to be specific, is sometimes produced by small scale entrepreneurs. I am glad … Continue reading Day 34: Cake Palace supports other small scale entrepreneurs
The Retail shop has been running as a baby of the bakery ever since it started operating. In fact, it had added one more employee salary to total bakery expenditure. But gradually, it is developing into a partner of the bakery than a mere outlet. The Retail Shop makes slightly more than MK300,000 ($411) per … Continue reading Day 33: Retail Shop turns independent!
Banki M'khonde is a micro-finance system that has saved Cake Palace since day one, and we want to introduce it to the retail shop too. In brief, Banki M'khonde is a temporary team (usually year long) made of small scale entrepreneurs in order to create a loan source and annual savings. Literary translating to 'a … Continue reading Day 32: Banki M’khonde to save the Retail Shop
Cake Palace is a community of more than 10 people. Being such a relatively big community, transparency, among other things, is a factor for progress. Without transparency, suspicion, gossips, and rumors, are unavoidable, and therefore could lead to poor interpersonal relationships. Making matter worse, poor interpersonal relationship lead to poor productivity (decline in profit), which … Continue reading Day 31: Building structures to create easy inspection
Cake Palace's business model is mainly designed for wholesale marketing. But recently, after opening the retail shop, Cake Palace is dealing with both retail and wholesale markets. When opting for diversification of marketing models, there is something we saw coming. There is an involving responsibility of facilitating retail business. The first thing that Cake Palace … Continue reading Day 30: New Confectionery Chef is in!
If you purchase bread at K1.00 and sell it for K2.00, your profit will be the difference, which is K1.00. [Quite obvious, right?]. But when a business involves multiple products, a series of processes to get the products ready, and a chain of processes to access customers, calculating profit becomes a web of math. Cake … Continue reading Day 29: New Simple Ways to Calculate Profit in Cake Palace
Cake Palace major sales go to shops and small scale consuming customers. However, as end of year festivals are approaching, we have to add one more group of customers. The new customers should be the ones who are hosting social events, and need snack packs. Cake Palace already bakes cakes for social gatherings, like birthdays … Continue reading Day 28: Making the perfect Snack Packs for social events