What is in a name?

 I am a baker. I love to put ingredients into a bowl, mix, stir, fold, and apply heat to, and then have something delicious come out. Most of the time. No one is perfect. 

I love baking so much that I made it a career. Then life took me down a different path, and to a different continent.

But, the goal that I started with by going to culinary school (that I didn't finish) was to open my own restaurant/bakery. It is a 10+ year old goal. I keep thinking I will do it, then... nothing. I am learning to trust God and his timing. Not all dreams are meant for now. 

But! Back to my bakery! Whenever I think of my bakery, I think of names. I like giving names to things. I have a blanket called Oscar because one side looks like Oscar the Grouch. I've named my cameras when I was into photography. Stuff like that. It amuses me, and that is all that matters. 

Well, the name of a place is important. Not THAT important, but still. And there is an art to it. The name should be indicitive of the place you are going to eat. Or should I name it after myself? Do I name it something that has to do with where I'm from? 

So, thinking of my bakery, I like to think of the name of it along with the menu. Some are quickly discarded. Like: Mingo and Gater. Or the Purple Flamingo. I love flamingos, they are my favorite bird. But they aren't my favorite animal. 

Some names I had in the past (mostly for eateries and cafes and not bakeries) were: Zombie Avacado (still really like this one) and Kooks.

Now that I live in Seoul, South Korea, I tend to want a name that is indicitive of my home country. So I had names like Johnny Appleseed (discarded because I don't want to do an apple themed cafe) Route 66 (still holding on to this one) and Orange Blossom (wait, what is the Florida state flower? Yep, it is the orange blossom, but the name will be discarded for reasons previously stated).

The name that I really love (at the moment), given by a friend (who will probably be given a discount/free food) is Later Gater. 

*Side Note* My name is not easy to remember for little Koreans. So, I call myself Alligator Teacher. I get to "eat" my children (are you delicious? can I eat you?) and alligators are from Florida. 

And I love the saying "see you later alligator". So, Later Gator is such a perfect name. 

And that is what my business plan uses at the moment. 

Now that I have a name, I need to work on a menu. I've got some solid ideas, some written down. But I want to write everything down so that I have it ready. And I need to test out one more recipe. My friends are going to love me on Sunday. 

So, here is what I wrote. I may have taken what someone else wrote, put it into my own words, and added something about WHY I want to open a "home kitchen bakery". 

"Food brings us together and is a great way to share our culture with someone else. While I can appreciate the higher forms of food, what I really crave, and I strongly believe others do as well, is the simpler food that was more easily accessible to us at home.

I want to share something I love, something that I know is delicious, with others. Something that will bring us together, if only for a moment or a bite. I want my food to be accessible, bring back good memories, and help create new ones." 

Executive Summary

Business Name: Later Gator Bakery

Location: Hapjeong, Seoul, South Korea  

Vision Statement

Later Gator Bakery aspires to bring a taste of home baking from America, and other western countries, to Seoul.

Mission Statement

Later Gator is determined to bring the “unrefined” or taste of home baked treats and pastries from America to Seoul. We aim to show a different side of baked goods that many Expats might miss and give those living in Seoul another side of American and Western baking.

Business Description

Later Gator Bakery is a made from scratch bakery, specializing in “homemade” treats such as brownies, cookies, and cakes from around America. Our focus is good, nostalgic inducing, treats that are delicious. We want to offer something that isn’t really found in Seoul, which is the unsophisticated side of American baking that can be found home kitchens from Florida, to Washington and everywhere in between.

Products and Services

1. Cookies: a collection of standard cookies one might find in any household, such as peanut butter, chocolate chip, and sugar cookies.
2. Cakes: traditional cakes from around America, including: hummingbird, birthday, seven-layer chocolate cake.
3. Breakfast: traditional breakfast pastries, including: coffee cake, babka, and conchas.
4. Brownies and Bars: fudgy style brownies with variations, bars including: lemon, raspberry, and blondies.
5. Weekly/Monthly Specials: provide weekly and monthly specials to try out new items from around the world or a special variation of regular items.
6. Beverages: Quality coffee, tea, hot chocolate and other drinks that complement the baked goods sold.
7. GROWTH: Expand food offered to include lunch items such soups/stews and sandwiches.

Target Market

1. Expats who are missing a taste of home.
2. College students who want to experience a taste of America.
3. Anyone looking for a delicious breakfast or snack.

 

Competitive Analysis

Later Gator Bakery will distinguish itself through:

1. Traditional American treats that are not found in bakeries in the area.
2. Cute décor that will amuse and hopefully cause customers to want to come back.
3. Active community involvement and engagement.

Marketing Plan

1. Social Media Presence: Vibrant engagement on Instagram and Facebook showcasing our products and connecting with customers.
2. Local Collaborations: Strategic partnerships with local businesses and participation in community events to enhance visibility.
3. Opening Promotions: Exclusive promotions and discounts during the launch month to captivate initial customers.

Operational Plan

1. Location: Securing a location in the Hapjeong/Hongdae area within easy reach by local transportation that will also provide seating.
2. Suppliers: Since some of our ingredients will have to come from overseas, Costco and Coupang will be used as well as local stores and suppliers as much as possible.
3. Staffing: Hiring skilled staff that can communicate with customers of other nationalities, are friendly, and share our passion for delicious food.

Financial Plan

1. Startup Costs: Detailed outline of initial expenses for equipment, permits, and innovative marketing.
2. Revenue Streams: Projections for income from daily sales and potential collaborations.
3. Profit and Loss Statement: Monthly monitoring of expenses, revenue, and profits to ensure financial sustainability.

Risk Management

Identify potential risks, such as market trends shifting, supply chain disruptions, or economic uncertainties. Develop strategies to mitigate these risks, including staying adaptable and maintaining diverse supplier relationships.

Later Gator Bakery is poised to become an iconic establishment in Seoul, offering not just baked goods but a chance for foreigners to have a taste of home as well as share that taste with locals. With a focus on quality, community, a love of baking, and a strong desire to share a bit of ou