Fancy Food Business: Gourmet Restaurant in UAE

Running head: Entrepreneurship and Innovation
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Table of Contents
Executive summary....................................................................................................................2
Introduction................................................................................................................................4
Discussion..................................................................................................................................5
3.0 Company summary:.........................................................................................................5
3.1 Startup summary:.............................................................................................................5
3.2 Startup funding:................................................................................................................6
3.3 Company ownership:.......................................................................................................9
4.0 Description of business:...................................................................................................9
4.1 Products and services:......................................................................................................9
4.2 Summary of market analysis:.........................................................................................10
4.3 Segmentation of market:................................................................................................10
4.4 Strategy of target market segment..................................................................................11
5.0 Implementation and strategy summary:.........................................................................12
5.1 Competitive edge:..........................................................................................................12
5.2 Sales strategy:.................................................................................................................12
5.3 Pricing strategy:.............................................................................................................13
5.4 Facilities and location:...................................................................................................13
6.0 Summary of management:.............................................................................................13
7.0 Financial plan:................................................................................................................14
7.1 Assumptions:..................................................................................................................14
7.3 Projected profit and loss:................................................................................................15

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7.2 Projected cash flow:.......................................................................................................16
7.4 Projected balance sheet:.................................................................................................17
7.5 Projected break even analysis point:..............................................................................17
Conclusion................................................................................................................................19
Reference..................................................................................................................................20
Appendix..................................................................................................................................23

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Executive summary
The following report give a brief description of a business plan on which is carried out for a
out for a business named as “Fancy Food Business”. The setup of the business is planned to
execute in United Arab Emirates. The restaurant seeks to offer an authentic taste of gourmet
foods in Emirates. The restaurant will provide number of delicacies from different regions
which will provide a delightful experience to the customers. The restaurant will provide good
quality food as well as satisfactory customer service. The management of the business is
designed strategically and critically which would help the business to tackle the competition
in the food business and would foster the productivity of the business. The restaurant seeks to
create strong customer base in the market and could able to generate good profit and revenue
by perpetuating high customer footfalls throughout the business.

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Introduction
The growing business of restaurants has taken a toll in various regions. In order to get
a predefined executable business, it is necessary to project a business plan. The following
paper is gives a structured analysis of a fancy food restaurant which is to be located in United
Arab of Emirates. This report describes the nature of the business, the marketing and sales
strategy and analyzing the financial background containing the loss statements, projected
profit and revenue as well as other important prospects for a business. The overview of the
company is mentioned in the paper as well as how the company will initiate its business with
the help of business plan. The business plan includes market analysis of the environment such
as market segmentation, the target market, main competitors. Strategies have been used for
marketing and sales which will help the business to tackle its competitors and run the
business smoothly. The management team who are responsible for various functions and
operations are mentioned in the report. The Fancy Food business states the financial planning
which is very necessary for any business such as its assumptions, the financial statements, the
balance sheet, cash-flow projection and break-even analysis for future forecast of profit and
revenue from the business.

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Discussion
3.0 Company summary:
Fancy food business would be a value add manufacturer of food such as sea food,
chicken and meat with unrelenting focusing on the taste, quality and specification of health.
With the introduction of the Gourmet food, the restaurant would be able to add extra
dimension to the hospitality needs of guest. This would be done by serving the tempting
delicacies, firing up perfect barbeque and other range of products to satisfy all the gourmet
needs of the customers. The restaurant would be located in Fujairah, United Arab Emirates,
P.0 Box 5059.
3.1 Startup summary:
The food and beverage is the most significant sectors in UAE. Through analysis it is
observed that UAE provides a very favorable environment for food business (Harris 2019).
According to BMI reward/risk index, Emirates is ranked first in the region wise and as fourth
globally in food and beverage industry. The organization seeks to pin its business by offering
very high quality and authentic cuisines from all over the world (Adobor 2019). The
organization endeavor to provide comfortable and soothing ambience which would
complement the quality of food offered to the customers. The attractive ambience and
gourmet food will attract the customers and ultimately reach to customer delight as a result of
which the company would gain maximum profit and revenue (Kanyan et al. 2016). The
restaurant provides best Italian and Tuscan cuisine, the food of the restaurant bridges
elegance, simplicity, serving-hand crafted, and the regional Italian specialties from Umbria,
Tuscany and Emilia-Romagna.

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The organization believes that in order to get an effective and efficient business and healthy
workable environment for the employees working inside the organization. This will help to
attain job satisfaction within the employees and will create a happy environment. Through
this manner, the organization provides best customer satisfaction by delivering better quality
food and services to the customers (Kuratko et al. 2017).
The essential elements of the business are:
a) Location: The fancy food restaurant is located near major market areas of Emirates where
people would find it easy to track the location and for easy transportation. The location is
decided through strategic evaluation and market analysis. The location plays a major role in
retaining customer footfalls each day which will directly help t generate profit for the
organization.
b) Quality of food: The food offered is Italian cuisine with highest quality which will provide
the finest experience of traditional and authentic delicacy to the customers.
c) Interior Design and Ambience|: The interior design is glimpse of Italy and gives an essence
of Italy, the customers can enjoy Italian food as well as the can feel the Italian décor inside
the restaurant. This acts as the USP of the restaurant which will allow a huge number of
customers inside the restaurant.
c) Quality of Service: Impeccable service is providing that would print a great impression in
the minds of customer, better services compel the customers to come back to the restaurant
this will help to attain customer retention.
3.2 Startup funding:
Fancy food business would be set up by making an initial investment of $ 231500 and all the
initial amount of cost that would be required to incur in the business would be covered in this

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particular amount. The necessary funding of the restaurant outlet is also done by taking long
term loan of amount of $ 98000. All the requirements and needs of business have been
addressed by acquiring an area of 4000 square feet. Therefore, Fancy food business will be an
entity that would be privately held by the two partners.