Management of Small Business

Running head: MANAGEMENT OF SMALL BUSINESS
Management of Small Business
Name of the Student
Name of the University
Authors Note
Course ID

1MANAGEMENT OF SMALL BUSINESS
Executive Summary:
Habib’s Lounge & Restaurant will be a 100 seater fine dining restaurant with 50 seat lounge.
Habib’s Lounge & Restaurant main focus is serving its customers with new American and
Italian menu with the touch of Asian influence. The business will be located in Al Bahiya
which is booming and increasingly expanding area in UAE. The outlook of Habib’s Lounge
& Restaurant for opening a future branch appears promising. The developers are recreating
the with $150 million project of building resort. There would also be a 100,000 square feet of
commercial space and more than 700 residential units with townhouses that ranges between
$250,000 and $500,000. Rental premises is also available with rent ranging between $2,000
to $4,500 per month and also a two-tire garage. This combination ultimately makes the area
with a complete year-round economy.
The Habib’s Lounge & Restaurant will remain open for seven days a week and it will offer
its new customers with special theme nights for repeated business. The restaurant will
centrally be a fine dining under a cosy environment. The business aims to provide a relaxed,
correct and friendly service to its customers. Habib’s Lounge & Restaurant will hire best
human resource for training, motivating and inspiring them. Habib’s Lounge & Restaurant
will retain the friendliest and most efficient workforce possible. The business seeks loan of
$200,000 based on the annual 8% interest rate. The owners are also investing their own
capital of $150,000 as well.

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Table of Contents
Company Description:...............................................................................................................3
Vision statement:........................................................................................................................3
Company background................................................................................................................4
Product/Service Description:.....................................................................................................4
Value Proposition:......................................................................................................................5
Industry Description:..................................................................................................................6
Market Analysis:........................................................................................................................6
Target Customer:........................................................................................................................7
Competition and Competitive Advantage:.................................................................................7
Competitive Advantage:.............................................................................................................8
Marketing Strategy:....................................................................................................................9
Sales Plan:..................................................................................................................................9
Competitive Plan:.......................................................................................................................9
Legal and Organizational Structures:.......................................................................................10
Key Personnel:.........................................................................................................................10
Key Partners, advisers and related service providers:..............................................................11
Key activities and operations:..................................................................................................11
Financial Summary:.................................................................................................................12
Sales and Profits:..................................................................................................................12
References:...............................................................................................................................14

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Appendix: A:............................................................................................................................16
Financial Statements:...........................................................................................................16
Appendix B:.............................................................................................................................20
Owner Biographies:.............................................................................................................20
Product or Service pictures:.................................................................................................20
Indicators of Success:...........................................................................................................22

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Company Description:
Habib’s Lounge & Restaurant aims to serve its customers with wide variety of
international food that are American origin. The business will be located and completely
owned by the owner as sole proprietorship forms of business. the restaurant will also serve
numerous American and Italian style food with the blend of Asian influence. The restaurant
will be completely held and functioned by owners.
The menu of Habib’s Lounge & Restaurant will be serving the blend of best Italian
recipes that would range from focaccia bread to the luscious tiramisu and more. While in
context of American dishes it would include the best traditional dishes ranging from
hamburger to Hominy Grits. The menu of Habib’s Lounge & Restaurant will also be inspired
from “Asian chilly shrimp, lamb, vegetarian lentils sauce” etc. The menu of Habib’s Lounge
& Restaurant will be changing in every few months and will keep the favourites (Johnson,
2016). Nevertheless, it is the policy of the Habib’s Lounge & Restaurant to provide an insight
of higher worth that its competitors with the help of food, services and entertainment.
Vision statement:
Habib’s Lounge & Restaurant will be a fine place to eat, combined with enthralling
environment and excellent food. The vision of Habib’s Lounge & Restaurant is not only to
have good savouring foodstuff but to also have an effective and welcoming service since
client contentment is considered supreme. The vision of the owner is to create a restaurant of
high-quality for all “families and singles, young and old, male or female”. The well-being of
staff members is in the same way considered noteworthy for the success of the business. At
Habib’s Lounge & Restaurant each employee will be treated in a fair manner and with
highest respect. Habib’s Lounge & Restaurant wants to feel its employees as the part of
company success. Having a happy employee will result in happy guests.

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Habib’s Lounge & Restaurant vision is to combine the menu with diversity,
atmosphere, setting, exceptional theme nights and welcoming personnel to form a sense of
place for reaching its objective of complete in the dining as well as entertaining experience.
Habib’s Lounge & Restaurant wants to derive a reasonable revenue for the proprietors and
create a satisfying place for employees to work.
Company background
Habib’s Lounge & Restaurant would be providing its customers with unique taste.
The restaurant will be located centrally at Al Bahiya in UAE. Customers around this area will
have the access to visit the restaurant. The restaurant will be completely owned under the sole
proprietorship and will be registered in AL Bahiya. The restaurant will be open for seven
days in a week and will be serving dinners and lunch all through the working days. With high
turnover for start-up restaurants, the owners will be relying on the family to fill up the gap
where compulsory until the business is off the ground and it is making profit.
Product/Service Description:
Providing customers with warm and friendly service that is normally anticipated from a
family-style restaurant by forming a relaxed, comfortable atmosphere that will make the
customers relaxed and would want to return once more frequently (Aknesia et al., 2015). The
range products that will be included in the menu of Habib’s Lounge & Restaurant includes
the following;
 Caprese Salad with Pesto Sauce
 Panzenella
 Focaccia bread
 Margherita Pizza
 Mushroom Risotto

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 Crispy Chilly baby corn
 Crispy chilly Mushroom
 Texas Barbeque
 Apple Pie
 Hominy Grits
Habib’s Lounge & Restaurant food will be viewed as exceptional to the Al Bahiya
area. The food will be prepared with intercontinental creative and the style of amenity will
make each gusts feel extraordinary. The food products of Habib’s Lounge & Restaurant will
be prepared from finest quality ingredients and will be prepared with sensitive care (Kirzner,
2015). Habib’s Lounge & Restaurant will go all way to satisfy its customers and will be
regularly modifying its menu in every three to four months but will be keeping customers
favourite dishes. Portions will be sized in a modest manner with an attractive presentation.
Habib’s Lounge & Restaurant will provide its customers with comfortable lightly-lit
bar which will feature comprehensive range of “finest vodkas, homemade aquavits and
single malt scotches” (Kuratko, 2016). In the busy summer, the guests can also sit outdoor in
the lawn area and the summer menu will feature lighter fare, outlandish drinks and non-
alcoholic drinks. The courtyard and the garden settings will offer guest with amusing and
casual environment for the summer season.
Value Proposition:
The value proposition of Habib’s Lounge & Restaurant are;
Being mindful with customers and staff: Concurring with the family values and will be
treating both its patrons as well workforce in a respectable way.

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Gratitude: An outlook of gratitude will be shown towards the visiting guests, staffs and
sellers because without the input, service, labour and time, the business of Habib’s Lounge &
Restaurant would not exists.
Service: The value proposition of Habib’s Lounge & Restaurant would also include
providing its guests with whole-hearted and welcoming service that is anticipated from the
family-style restaurant (Burns, 2016). It would create a relaxed, comfortable environment that
will be directed towards customer satisfaction and repeated business.
Industry Description:
The restaurant industry is considered very big and varied form of business. The sale
of restaurant is forecasted to touch $780.1 billion in 2022 with a growth of 2.5% over 2018.
The overall financial effect of restaurant industry is anticipated surpass $1.8 trillion in 2022.
On a usual day in UAE in 2018, more than 120 million are foodservice patrons. The UAE
restaurant industry comprises of around 380,000 restaurants having a combined yearly sales
revenue of greater than $400 billion (Read et al., 2016). The industry is largely fragmented by
50 largest service providers and holds mere 20% of the entire market. The industry largely
involves “full-service restaurants (FSR)” and limited service eating places that includes
“quick-service restaurants (QSR)”, “cafeterias, buffets, snack bars and non-alcoholic
beverage bars”. The industry is largely driven by personal income, consumer tastes, and
demographics.
Market Analysis:
Consumer expenditure for dining in UAE has increased by the end of 2018. The rise
in the number of new establishment such as restaurants, fast food franchises and bakeries
across UAE has portrayed a noteworthy amount of growth into this sector (Barringer, 2015).
Spending on food stands around 56 per cent of the overall consumer expenditure in UAE

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while customer expenditure on leisureliness and refreshment makes up around 13% of the
overall expenditure. A much wider plea is existent during the weekend slots since weekend
forms central target market that enjoy dining activities. Eating out yet remains one of the
common habit in AL Bahiya area of UAE. Consumers now do not view dining out as treat
and they generally relish it by carrying their family, particularly if the consumers have small
kids and enjoy the atmosphere of western-style dining outlets.
Target Customer:
Habib’s Lounge & Restaurant targeted set of customers include Al Bahiya’s residents.
Al Bahiya is the place to meet and hang out for most of the residents. Because of hefty extra-
curricular activities among the youth of UAE, it is very common for high schoolers to have
lunch outside rather than at home. Habib’s Lounge & Restaurant secondary target market
segments is the working residents of Al Bahiya. These customers look for perfect place to
dine out (Storey, 2016). Families would normally visit for accommodative list of options and
welcoming service. The outstanding value of meal time will keep these customers in favour
with the restaurant. Habib’s Lounge & Restaurant will also target high-end singles to appeal
them with its decoration and arrangement. The intercontinental menu, wine savouring
sunsets, events, excellent service and customer management will consolidate the emotion of
being in a calmest place in Al Bahiya area.
Competition and Competitive Advantage:
There are very limited dining restaurant in Al Bahiya. There is no international menu
restaurant in Al Bahiya area. Habib’s Lounge & Restaurant will be only authentic
international menu serving restaurant in Al Bahiya. Hence, Habib’s Lounge & Restaurant
does not faces any direct competition with identical menu or service. Nevertheless, the
probable customers might pave visit in the different nearby restaurants for the purpose of

9MANAGEMENT OF SMALL BUSINESS
dining (Burns & Dewhurst, 2016). Below are few information on the restaurants that can be
of competition for Habib’s Lounge & Restaurant.
Mustafa Lammas:
Strength
 Prince ranges between $45-$159
 Good environment
 Best fast food in the town
 Good service
Weakness
 Very expensive fast food restaurant
Kavalla Kennel:
Strength
 Traditional recipes
 Located in the city centre market
 Calm atmosphere
Weakness
 Small accommodation
 Longer service time
Competitive Advantage:
Habib’s Lounge & Restaurant competitive edge is its menu, chef, environment,
administration, service and welcoming environment for guests. Habib’s Lounge & Restaurant
has an international menu and its food will be prepared with garden-fresh ingredients. The
cook carries superb sense of taste for fine dining (Ansoff et al., 2018). Short waiting time in
service is important for Habib’s Lounge & Restaurant. Therefore, the management and
servicemen will be handling each detail of the guests to make them happy and feel special.

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Marketing Strategy:
Habib’s Lounge & Restaurant has formed a promotional strategy which if goes well
and persistently perused, can allow the business to attain visibility in Al Bahiya’s restaurant
industry for international food. In the local market, the business will be doing every type of
paper advertisement with the help of flyers, newspapers and magazines. Habib’s Lounge &
Restaurant will make use of broachers and pamphlets for advertisement in the local market of
Al Bahiya (Rothaermel, 2016). The business will also make use of internet marketing with
the help of it is own websites. The strategy is to create high quality food restaurant and
service which have authentic touch of Italian and American flavour with a mix of local
cuisine and hospitality.
Sales Plan:
The sales plan of Habib’s Lounge & Restaurant is to build and uphold position with
its local customers. The plan is to form a customer base so that it can increase the revenue.
Sales in the restaurant business implies customer service which results in repeat business
(David & David, 2016). Habib’s Lounge & Restaurant will emphasis on making its
consumers happy through food, service and amusement.
Competitive Plan:
The competition plan of Habib’s Lounge & Restaurant includes positioning itself as
the foremost home-style restaurant by making a quality home style cooked meals with
modest yet healthy ingredients. Habib’s Lounge & Restaurant will be positioning itself as the
modern-day international style food serving restaurant (Lasserre, 2017). The main focus of
the business is to maintain quality and establishing a strong individuality in its community.
Habib’s Lounge & Restaurant will be creating an appealing and entertainment environment
which will carry invincible quality at an incomparable price.

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Legal and Organizational Structures:
At the initial stages Habib’s Lounge & Restaurant will be formed as sole proprietor
forms of business. However, over the time, the owner plans to convert the restaurant into a
limited liability company. Habib’s Lounge & Restaurant anticipates to hire 20 employees.
The proprietor has adopted an efficient process of interviewing that is designed to staff the
restaurant with the highly qualified people for every position (Morden, 2016). Every
applicant would be rated and will be evaluated in accordance with the pre-defined set of
standards that will be designed for every position. The efforts of recruitment will centre on
referrals.
Figure 1: Figure representing Organizational Structure
(Source: As Created by Author)
Key Personnel:
The key personnel of Habib’s Lounge & Restaurant are as follows;

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Restaurant’s CEO: The CEO of the restaurant will be accountable for the day to day
decision making and will be regularly working for majority of the hours with the key member
of staff.
Assistant Restaurant Manager: The assistant restaurant manager will be accountable for
staff in kitchen and waiter is accountable for the inventory systems, financial and marketing
department.
Executive Chef: The executive chef will be accountable for reports to help the assistant
manager and would be accountable for kitchen work.
Regular Chef: The regular chef day to day activities would include preparing food in the
kitchen, working under the executive chef and would be discharging the duties of cleanliness
and food quality.
Key Partners, advisers and related service providers:
The key partners of the restaurant will be Andrea Dorman Phox who provides
management and marketing consultation service. The business will be availing their service
in order to take care of the ordering for service and management of the waiter-staff
relationships. The advisers will be hired to take care of the marketing and advertisement
related work (Meyer et al., 2017). They have 15 years of experience in the industry of food
and hospitality. They are considered specialist in catering to the consumer needs and business
events.
Key activities and operations:
The restaurant operations manual will be include numerous checklists and procedure
that will help in running the business seamlessly (Hitt et al., 2016). The key activities and
operations of the Habib’s Lounge & Restaurant are as follows;

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Using Checklists: The Habib’s Lounge & Restaurant will keep checklists as a beneficial tool
of completing the task in the particular order (Trigeorgis & Reuer, 2017). It is regularly
regarded as the good idea of bringing ownership and accountability to what the owners have
completed.
Written and oral processes: The operations of restaurant will be based on the written
procedure as this will help in keeping good quality employees (Hanson et al., 2016). The
written procedure will guide kitchen process including the food safety, dining room
procedure, process of handling reservation and cleaning guidelines.
Renewal manual: The operation manual of a restaurant is regarded as the living document
that are subjected to change. As a general rule, Habib’s Lounge & Restaurant will review its
operations on a quarterly basis (Okumus et al., 2019). The owner will also employ an
electronic format on a web-based system where all the employees will be having the access to
the latest version.
Financial Summary:
Sales and Profits:
The financial plan is reliant on the vital assumptions. The important underlying
assumptions are;
a. The business anticipates a slow growth in economy without any kind of major
recession.
b. The business anticipates that are no such unforeseen changes in the expectancy in the
popularity of the restaurant.
c. The business assumes that the investment and financing are very much sufficient for
maintaining and completing the financial plan.

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Habib’s Lounge & Restaurant has 200 customer place at one area of dining. The
business anticipates a yearly 35 increase in inflation while an annual growth rate of 5% in
sales revenues. Considering the profit and loss account, Habib’s Lounge & Restaurant will be
making profit of 10% in the first year of operation and will use some of its cash reserves to
make investment by founders. An important assumption in the projected profit and loss
statement is the gross margin (Baumgartner & Rauter, 2017). Even though it does not jump in
a drastic manner but over the time it will develop the customer base and growth is anticipated
to pick from third year onwards.

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References:
Aknesia, V., Daryanto, A., & Kirbrandoko, K. (2015). Business development strategy for
specialty coffee. Indonesian Journal of Business and Entrepreneurship (IJBE), 1(1),
12.
Ansoff, H. I., Kipley, D., Lewis, A. O., Helm-Stevens, R., & Ansoff, R. (2018). Implanting
strategic management. Springer.
Barringer, B. R. (2015). Entrepreneurship: Successfully launching new ventures. Pearson
Education India.
Baumgartner, R. J., & Rauter, R. (2017). Strategic perspectives of corporate sustainability
management to develop a sustainable organization. Journal of Cleaner
Production, 140, 81-92.
Burns, P. (2016). Entrepreneurship and small business. Palgrave Macmillan Limited.
Burns, P., & Dewhurst, J. (Eds.). (2016). Small business and entrepreneurship. Macmillan
International Higher Education.
David, F., & David, F. R. (2016). Strategic management: A competitive advantage approach,
concepts and cases. Pearson–Prentice Hall.
Hanson, D., Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2016). Strategic management:
Competitiveness and globalisation. Cengage AU.
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2016). Strategic management: Concepts and
cases: Competitiveness and globalization. Cengage Learning.
Johnson, G. (2016). Exploring strategy: text and cases. Pearson Education.
Kirzner, I. M. (2015). Competition and entrepreneurship. University of Chicago press.

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Kuratko, D. F. (2016). Entrepreneurship: Theory, process, and practice. Cengage Learning.
Lasserre, P. (2017). Global strategic management. Macmillan International Higher
Education.
Meyer, G. D., Neck, H. M., & Meeks, M. D. (2017). The entrepreneurship‐strategic
management interface. Strategic entrepreneurship: Creating a new mindset, 17-44.
Morden, T. (2016). Principles of strategic management. Routledge.
Okumus, F., Altinay, L., Chathoth, P., & Koseoglu, M. A. (2019). Strategic management for
hospitality and tourism. Routledge.
Read, S., Sarasvathy, S., Dew, N., & Wiltbank, R. (2016). Effectual entrepreneurship. Taylor
& Francis.
Rothaermel, F. T. (2016). Strategic management: concepts (Vol. 2). McGraw-Hill Education.
Storey, D. J. (Ed.). (2016). Entrepreneurship and New Firm: Theory and Policy. Routledge.
Trigeorgis, L., & Reuer, J. J. (2017). Real options theory in strategic management. Strategic
Management Journal, 38(1), 42-63.

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Appendix: A:
Financial Statements:
Profit and Loss Account:
(4) PROFIT AND LOSS FORECAST
Preop
Year 0 1 2 3
Revenue 0 6,50,000 7,15,000 7,86,500
Cost of sales 0 3,45,750 3,56,123 3,73,929
Gross profit 0 3,04,250 3,58,878 4,12,571
Gross Margin 5,95,890 6,27,417 6,69,513
Expenses/overheads
Legal expenses 9,500 9,785 10,274
Stationary 3,500 3,605 3,785
Administrative expenses 1,500 1,545 1,622
Uniforms 35,000 36,050 37,853
Insurance 6,500 6,695 7,030
Cashier and card reader 7,500 7,725 8,111
Marketing and Advertisement 10,000 10,300 10,815
Phone & Gas Deposit 5,550 5,717 6,002
Kitchen Supplies 2,750 2,833 2,974
Cleaning 27,000 27,810 29,201
Websites 6,250 6,438 6,759
Lease payments 12,500 12,875 13,519
Proessional fees and licensure 4,250 4,378 4,596
Payroll Taxes 8,650 8,910 9,355
Wages 86,500 89,095 93,550
Total expenses/overheads 2,26,950 2,33,759 2,45,446
Profit before tax 77,300 1,25,119 1,67,125
Tax @ 30% 23,190 37,536 50,137
Profit after tax 54,110 87,583 1,16,987
Transfer to reserves 77,300 1,25,119 1,67,125

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Cash Flow Statements:
(2) CASHFLOW FORECAST
Preop
Year 0 1 2 3
CASH INFLOWS
Cash from Sales 6,50,000 7,15,000 7,86,500
Directors loans 2,00,000 2,00,000 2,00,000 2,00,000
Capital Employed 1,00,000 1,50,000 1,65,000 1,81,500
Other cash inflows
TOTAL CASH INFLOW 3,00,000 10,00,000 10,80,000 11,68,000
CASH OUTFLOWS
Payments for materials 3,45,750 3,56,123 3,73,929
operating expenses ( ) 0
Premises (rent, rates) 0 9,500 9,785 10,274
Wages and salaries 0 3,500 3,605 3,785
General expenses 0 1,500 1,545 1,622
Interest and bank charges payable 0 12,500 12,875 13,519
Lease payments 0 12,500 12,875 13,519
Corporation Tax 23,190 37,536 50,137
Market survey costs 0 6,250 6,438 6,759
Other preliminary expenses 0 1,500 1,545 1,622
capital expenditure
Plant and other capital expenditure 0 1,20,000 1,20,000 1,20,000
financing repayments
Loan repayments 16,000 16,000
TOTAL CASH OUTFLOWS 0 5,36,190 5,78,326 6,11,167
Cash flow summary
NET CASHFLOW FOR PERIOD 3,00,000 4,63,810 5,01,674 5,56,833
OPENING CASH BALANCE 0 3,00,000 7,63,810 12,65,484
CLOSING CASH BALANCE 3,00,000 7,63,810 12,65,484 18,22,317

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Start-up Expenses:
Start-up Expenses
Fixed Costs Particulars Amount ($)
Legal expenses $9,500
Stationary $3,500
Administrative expenses $35,000
Uniforms $6,500
Insurance $7,500
Cashier and card reader $10,000
Marketing and Advertisement $5,550
Phone & Gas Deposit $2,750
Kitchen Supplies $27,000
Cleaning $6,250
Websites $1,500
Lease payments $12,500
Proessional fees and licensure $4,250
Working capital $40,000
Total Fixed Costs $1,71,800
Average Monthly Costs
Rent $792
Interest on loan 8% $2,917
Postage & Telephone $2,250
Repairs and Maintainance $521
Gasoline and Oil $833
Salaries / Wages $292
Total Average Monthly Costs $7,604
x Number of Months: 12
Total Monthly Costs $91,250
Total Startup Expenses $2,63,050
Start-up Requirements

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Start-up Assets
Sources of funds
Owners Fund $1,50,000
Total Owner Funding $1,50,000
Loans
Bank Loan $2,00,000
Other
Total Loans $2,00,000
Total Start up Funds $3,50,000
Assets
Computers & POS 12,000$
Furniture & Fittings $35,000
Decorations and Lightning $28,000
Utensils and Cutlery's $45,000
Total Fixed Assets $1,20,000
Total Start-up Assets $4,70,000
Balance Sheet:
Assets FY-1 FY-2 FY-3
Current Assets
Cash $4,63,810 $5,01,674 $5,56,833
Non-Cash Asset from Start-Up $39,390 $1,24,259 $1,56,452
Total current assets $5,03,200 $6,25,933 $7,13,285
Fixed (Long-Term) Assets
Computers & POS 12,000 12,000 12,000
Vehichels $28,000 $28,000 $28,000
Furniture $35,000 $35,000 $35,000
Equipment $45,000 $45,000 $45,000
(Less accumulated depreciation) $18,100 $15,180 $12,844
Total fixed assets $1,01,900 $92,820 $95,156
Total Assets $6,05,100 $7,18,753 $8,08,441
Balance Sheet

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Liabilities and Owner's Equity
Current Liabilities
Bank Charges Payable $12,500 $12,875 $13,519
Income taxes payable $23,190 $37,536 $50,137
Accrued salaries and wages $86,500 $89,095 $93,550
General Expenses $1,500 $1,545 $1,622
Total current liabilities $1,23,690 $1,41,051 $1,58,828
Long-Term Liabilities
Long-term debt $2,00,000 $1,84,000 $1,68,000
Less: Loan Repayment $16,000 $16,000
Total long-term liabilities $2,00,000 $2,00,000 $1,84,000
Owner's Equity
Owner's investment $1,50,000 $1,65,000 $1,81,500
Net Profits $54,110 $87,583 $1,16,987
Reserve and Surplus $77,300 $1,25,119 $1,67,125
Total owner's equity $2,81,410 $3,77,702 $4,65,612
Total Liabilities and Owner's Equity $6,05,100 $7,18,753 $8,08,441
Appendix B:
Owner Biographies:
The owner has the experience of 5 years in the industry of food and hospitality. The
owner has received his culinary training at numerous leading restaurant in UAE.
Product or Service pictures:
Caprese Salad with Pesto Sauce

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Panzenella:
Crispy Chilli Mushroom:

23MANAGEMENT OF SMALL BUSINESS
Texas Barbeque:
Indicators of Success:
a. Repeated business where every customers who visits once would want to come back
again.
b. Word of mouth marketing is powerful tool.
c. Variety of menu offering which will be priced in a reasonable manner.
d. Convenience of location will help in customers to easily locate the restaurant.