Business Plan: Fancy Food Restaurant in UAE - Entrepreneurship

This report outlines a comprehensive business plan for "Fancy Food Business," a gourmet restaurant planned for the United Arab Emirates. The restaurant aims to offer a diverse range of high-quality gourmet foods from various regions, providing a unique dining experience and exceptional customer service. The plan includes a detailed company summary, startup details, and funding strategy, emphasizing the restaurant's commitment to quality, ambiance, and customer satisfaction. Market analysis covers segmentation, target market strategies, and competitive positioning, while the implementation strategy focuses on competitive edge, sales, pricing, and location. The management structure and financial plan, including assumptions, projected profit and loss, cash flow, balance sheet, and break-even analysis, are thoroughly discussed to ensure the business's sustainability and profitability.

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.

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3.3 Company ownership:
Fancy food business would be owned by two partners and the bulk of startup
financing is provided by them. The restaurant will be managed by group of people from Italy
and Dubai.The two partners named Zafar Sheikh would be operating the business as family
with occupying a crucial position in running of the business. The main chefs are from Italy
and Dubai. The restaurant is operated as a family. The members of the group occupy
important designation in the business. The Italian member already owns a restaurant in Italy
and has great experience of 7 years. The chefs are from Italy and will provide numerous
Italian cuisines.
4.0 Description of business:
Fancy food gourmet business is a restaurant that intends to offer customers with wide
range of gourmet products and will be located primarily in Fujairah, UAE. The Gourmet
business will be a 300 seat dining restaurant that would be focused on quality, taste and
health specification. Fujairah is a city of UAE that is located in the eastern coast that share
the international border with the Oman Sultanate. Since the place is considered as the place of
major tourist attraction, it is considered suitable for opening up of restaurant that would offer
extended hospitality to the customers.
4.1 Products and services:
The range of products offered by the Fancy food business are the Italian delicacy like
risotto, lasagna, pasta, bottarga, ossobuco and many more items as well as it serves burgers
such as chicken burger, breaded burger and beef burger which is kind of fast food dishes.
Other product ranges include glazed, breaded, kebabs and koftas. Under gazed, customers
would be offered with varieties such as calibrated chicken breast, tender chicken breast and
marinated chickens. Breaded would comprise of chicken nuggets, chicken fillet, chicken
finger and chicken burger. Kebabs include chicken kebab, beef kebab and chicken kofta.

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Many restaurants provide good food but if they lack in good service it will slower the
footfall of customers as many expectations are there when customers enter in the restaurants.
Therefore, the Fancy Food restaurant provides good food as well great service for the
customers (Gordon et al. 2016). There are over more than 500 staffs who will serve the
customers so that the customer will not face any difficulty or late arrivals.
4.2 Summary of market analysis:
The Fancy Food Business has the maximum capacity for around 300 people. The
business is located at a greater location which attracts huge number of customers throughout
the day. The location is chosen in a way that will generate massive surge of customers. It will
also provide high competitive edge in the market.
Before entering inside the market the business analyses the external and internal
environment as the fancy food business provides unique service to the customer it is highly
benefited with competitive advantage. At the initial period the organization must undergo
licensing procedures which is dealt by legal environment. The political and economic issues
must be considered as the economic condition of Emirates is good therefore the expected
customers are the premium customers who can afford going to the fancy restaurant (Rockas
2019).
4.3 Segmentation of market:
The restaurant industry in United Arab Emirates is booming and in the last five years,
it has witnessed rapid growth. It cannot be denied that the country is seen as the fastest
growing economies in the countries of Middle East and it is expected that a considerable
number of dining outlets would be opened in the country (Salzberg et al. 2019). It is
indicating by the market research that the Gourmet food market would continue a fast paced
growth and opening up of a restaurant is considered to be the feasible option (Teixeira et al.

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2019). Fancy food business would be segmenting its customers based on the characteristics
such as income, age group and the food habits of customers (Gordon et al. 2016). The
segmented customers would include people who prefer eating out and trying new delicacies
along with the tourists for which the location of restaurant is regarded as the attraction of
great tourist destination. In order to attract new customers, the restaurant would offer special
theme nights and there will be a fine dining in a cozy atmosphere. The style of service and
creative food will make every customer feel special and welcome. Following groups are
defined as the target segments based on the analysis of market.
The business man- Businessman often stay in the strange city after working hard all day and
for impressing the clients, a competent establishment is needed by him. These people intend
to spend money on food and drinks.
High end singles- The layout and décor of restaurant would help in attracting them. The
engaging clientele and excellent service, striking artwork and wide range of products will
help them in getting the feeling of being in the coolest place.
Tourists-Many vacationers would be attracted by the restaurant and is considered as the
attractive destination offering wide range of gourmet foods.
Family- Fancy Food business can be considered as the perfect place for family dinner as they
seek friendly service and accommodative menu.
4.4 Strategy of target market segment
The reasons for choosing the above people as the target market segment because they
visit restaurants frequently and are willing to spend money on dining service at their valuable
services (Teixeir et al. 2019). The target market segment strategy which is adopted by Fancy
Food is differentiation strategy. As the organization provides high competition and it is trying
to give those products and services which adds high value to the customers and an attempt to