Secret Recipe Business Plan

cryptical normal Business Plan cloak-and-dagger formula, Dubai, UAE leave be a liberty of catering federation called Secret Recipe own by ALAMERI Group. The trading is in nourishment run industriousness and has successfully established its brand name in Malaysia, Singapore, Indonesia, Thailand, China, Philippines, Pakistan, Brunei, and Australia by equity of its alright part cakes, merger sustenance and distinctive service.The purpose for this billet concern fancy is to go forth a written guide for managing the claim of Secret Recipe, Dubai, UAE and seek financing from relevant institution and investors by providing detailed musical accompaniment phone line plan. This franchise of secret recipe go forth be owned by Taleb AlAmeri and exit be primarily involved in the prep aredness of variety fresh nourishment harvest-homes such as cheese, chocolate and fresh, skim off cakes, health cakes and brownies.The course mission statement is to be solution orient innovatively and the vision is to be one of the leading telecommunication companies in Africa. The physical object of the comp either is to provide job opportunities youths, generate income for owners and to give 10% of the revenue enhancement back to the community.The fundamentals of this business success rest with the capacity to fork up survey to the customer at competitive prices (Ajami, Cool Goddard, 2006).With the background fellowship of stiff contention in the fodder persistence within Dubai, this franchise aims at attracting and retaining its customer through the provision of fine quality victuals products and distinctive service. In do-gooder to the above, the fundamentals of this business impart shut in best demonstration of ethical practice within both the indwelling and external environment. This is because of the backdrop knowledge of the stringent measures and legislations that govern the food industry.The food industry is expected to grow in the near an d innovative approaches to food service and actors line go out define success within this industry. changing consumer demographics and to a greater extent(prenominal) and more complicated customers are pushing food service businesses to the gulp boards (Toyne Nigh, 1999). The success of this franchise leave behind depend on the capacity to compel a aright market niche that cannot be broken.General go with DescriptionWhat makes the business genuinely unique is the realization that businesses and consumers are increasingly demanding more leading edge in service and product bringing in the most(prenominal) efficient, time saving and reliable way (Hill, 2008).The Secret Recipe situated at Dubai Mall, UAE a franchise of Secret Recipes result be primarily involved in the provision of fine quality cakes and fusion food. This ordain encompass the provision of more than 20 types of fusion food, 40 cake creations and pastries, with a flavoursome appreciation of ice lap up an d beverages.Mission statement To provide world class food services to the customer.Vision To become a leading provider in fine quality cakes and fusion food.The social club will assert value assenting services innovatively using the existing technology for reliability and efficiency. With a powerful website to be developed, the customers will be able to sample and purchase their favourite(a) choice of quality fine cakes and fusion foods online. The website will be employ to advertise and change the products and services offered by the company.Company Goals and ObjectivesGoalsTo have the franchise operating exactly three months after receiving adequate funding.Obtain $ 200,000 of smashing by 31st December 2010 to staff and launch the business towards achieving its foresighted term goals.To attain the stated year goal of recruiting employees by the fount of the year 2011.ObjectivesAchieve excellent levels of high ethical standards within the food industry.Have a healthy, succ essful company that is a leader in customer service and that has a loyal customer quest.Achieve a sales target of $20,000 within the first three months of the operation.Business doctrine The most important aspect of this business is to provide value to the customer through distinctive service and in a manner that guarantees their return.The more than 20 types of fusion food, 40 cake creations and pastries, with a flavorful range of ice cream and beverages will be sold to all customers of disparate backgrounds in United Arabs Emirates. However, I envisage to draw the larger lot of my customer base from the residents of Dubai City. Because of the increasing innovative merchandising approaches, the marketing schema will strive to reach customers of diverse backgrounds and will then be narrowed down to touch on the specific market niche. aliment industry is a harvest-tide industry that has leaped from one phase to the an early(a)wise(prenominal) and is expected to record tremend ous growth in the future. Changes that will bring up in the future will mainly be in need to changing demographics and the complexity in the demands of the customer. This will also include changes in technology that will define the operations and customer service delivery (Singh Delios, 2005). My company will stay in tandem with the changes in the food industry and at pace with technological advancement to reap the most out of the benefits presented by these two growth scenarios.My greatest strength and competence that will also be my competitive advantage is the unrivalled throw in the food industry and chain worry. As the owner of this franchise, I plan to wander in an aggressive and innovative marketing driveway within this industry that will immediately smoke away competition and enhance my entry and strong regional presence in Dubai.I strongly believe my competitors strength will be based on tears of operation that have made them acquire a deeper reek of understanding of the customer. In fact, after an intensive research on the competitors strengths and weaknesses, the company realized that the competitors strengths are based on the experience, location, advertisement, employee, technology, financial, political connection and goodwill.I plan to plough in my vast experience in trouble within the food industry to his business and ensure its survival. In addition to the above, my capacity to raise capital that will cover important business start-up areas will provide me a competitive advantage against my competitors who has struggling with fall confidence in small and medium sized entrepreneurs by banks. Furthermore, I expect to reap from the efforts of the main company in regards to brand and cooking stove building.This will be a restore proprietorship type of business. This is because I believe the inability to raise adequate capital forms the reason stooge enlargement and partnerships. Capital is not a problem in my case. Furthermore, sole p roprietorship offers the best and simplest environment in regard to decision making (Cherunilam, 2004). I plan to execute my decisions and discharge my duties within this business without any opposition and inhibition.Products and ServicesThis will be an entirely food business that will only deal with the products of the mother company. I will sell the more than 20 types of fusion food, 40 cake creations and pastries, with a flavorful range of ice cream and beverages offered in allSecret Recipeoutlets.After an intensive research on the competitors strengths and weaknesses, the company realized that the competitors strengths are based on the experience, location, advertisement, employee, technology, financial, political connection and goodwill. These will form the areas that will define my competitive disadvantages.As a new franchise, I plan to get into the market at a slightly reduced sales fee in comparison to my competitors. This will form the introductory offer of the business th at is aimed at drawing the customer to the business.Marketing PlanMy marketing ill revolve around the need to adapt my brands to meet local anaesthetic anaesthetic and regional socialization because of the understanding that mark act as a means of linking items that are part of product line and emphasizes the individuality of product items. This emphasis can only be achieved in instances where products items fit into the local or regional culture of the target market. This is a food industry and therefore I expect very little conflict with the culture of the people in Dubai.In addition to the above, the adapting of these brands to fit into the local and regional culture of the target market is a competitive advantage that is normally used by competing firms engaged in the sale of similar or substitute products. In essence, this means that a firm that outperforms the others in the primary feather goal of performance-profitability-has competitive advantage. A reference back to t he branding generic model of firms can be made, where the question of whether firms are branding strategies is toll driven or value added arises. Value added competitive advantage arises in instances where competing firms attach strong cognizance to the understanding of local or regional culture before launching their product lines. Companies succeed in branding strategies that their rival because their products are positioned to capitalize on their unique characteristics of a local or regional group and which, in one or more aspects, their rivals find hard to emulate. This competitive advantage gives it a basis for outperforming competitors because of the value that firms are able to present to the customer. These will define my marketing plan. watchfulness and OrganizationAs I have stated, the twenty-four hours to day counselling of the business will be my primary duty with the fend for of other individuals that will form part of employees in the company. The procedure of runn ing the business will be through delegation as per the chain of reliable bellowDIRECTORS CEOsSENIOR MANAGERFINANCE MANAGERASSISTANT AGENTSWATCHMEN man RESOURSE MANAGERThe managers and the staff are very important for the company as they are the means through which goals are realized, duties are carried out and they provide the links between the organization and the clients.5.2 Management teamThe initial management team consists of the founders who will be working jointly as shareholders. The founders of the company share a vision for the success of Secret Recipe dealership situated in Dubai, UAE. Their duty will involve day to day running of the business which involves finance, logistics and human choice.In future the company will have a general manager, finance manager and human re reference manager who must have a degree or parchment with the relevant course from a recognized University or College.5.3 Other military unitApart from the management team, the company is having th ree (3) supervisors at the head confidence and one (1) assistant supervisor in every department. The company is cooking to employ watchmen, office messenger and more assistant agents as we will be expanding. These forcefulness have and will have minimum energy of O level education and diverse knowledge in the food industry.5.4 RecruitmentThe management team has been able to recruit other personnel through networking and train them within the already existing outlets before they are posted to the new outlets. The business will also consider publicize through posters, internal memo, friends and relatives, internet, electronic media like radio and printed media like newspapers.The enlisting process will involve short-listing of the applicants, interviewing of the shortlisted applicants, selection of the successful applicants and finally upshot the appointment letter. We will also recruit through confirmation of the interns and the volunteers.5.5 Orientation, prep and developing of staffSecret Recipe Franchise Company will carry out orientation, training and development of staff through induction, on the job training, contract training, refresher course courses, internship and evaluation after training.The company is facial expression forward to become custodians of a very fragile yet intrinsical good customer trust, therefore the company will maintain refresher courses to ensure all our staffs are properly aligned when it comes to personal integrity.5.6 net profit/incentives5.6.1 Salaries/wagesThe company will offer to the personnel a very competitive basic salary according to the qualification, experience, position and expertise. The salary will also be based on what the competitors offer and the companys returns. There will be a commission for the sales personnel and prompt defrayment for wages.5.6.2 Fringe benefitsIncentive is also another factor that the company has put at the top of priorities. Incentives will enable, motivate or encourage a particu lar course of action which in turn will contribute to the company success. We will offer allowances in terms of overtime, leave, millage, hardship and some more as they may arise. There will be bonuses including awards in terms of value for money and certificates. afoot(predicate)ly the company provides tea, soft absorb and has installed a television system. The business will soon embark on taking our staff to the trips, have insurance cover for them and remit contributions on their behalf to their respective insurance companies.5.7 Support servicesThe company will pray the following support services financial advisor, legal advisor, banking system, security support services, infrastructure and insurance services.9. FINANCIAL PLANThe company has at its governing body a sum total of $20,000 as a financial source from directors personal savings. We are therefore looking for funding from other investors and banks. The business finance will be used to for the facilities, equipments , materials, cash for operating expenses and salaries, fees and other costs.9.1 Capitalization9.1.1 Own contributionCapitalization based on the shareholders contributions is $20,000.9.1.2 Proposed funds from borrowing sourcesFor the business to operate as proposed, the start-up cost must be met. The company is therefore proposing funds from borrowing sources of $ 20, 0009.1.3 extreme investmentTotal investment is the sum of own contribution and the proposed funds from borrowing sources which is $40,000.The following sections lay out the details of the financial plan for rapid, but controlled growth for the next one year. The simple structure to be adopted by the company will provide a great deal of flexibility resulting in few coordination problems hence quick reaction to changes in the market.9.7 step of profitability9.7.1 Operating profit coastOperating profit margin = (operating profit/Revenue) x100First yearOperating profit margin = (1,400/101,500) x 100= 1.38%Second yearOp erating profit margin = (4,730/131,950) x 100= 3.58%Third yearOperating profit margin = (22,009/171,530) x 100= 12.83%9.7.2 Current RatioCurrent Ratio = Current assets/Current liabilitiesProjected Current Ratio by the end December 31, 2011 = 21,000/11,200= 1.8759.7.3 fleet On Investment (ROI)Return On Investment (ROI) = Net boodle/InvestmentReturn On Investment (ROI) for the ended December 31, 2010 = 1400/23,000= 0.06