Secret Recipe Business Plan

privy(p) Recipe Business PlanSecret Recipe, Dubai, UAE go away be a franchise of catering smart set called Secret Recipe owned by ALAMERI Group. The blood is in forage serv tripes industriousness and has conquestfully established its brand name in Malaysia, Singapore, Indonesia, Thailand, China, Philippines, Pakistan, Brunei, and Australia by virtue of its delightful quality cakes, fusion food and distinctive service.The purpose for this credit line plan is to add a written guide for managing the franchise of Secret Recipe, Dubai, UAE and seek financing from relevant institution and investors by providing detailed funding business plan. This franchise of secret recipe forget be owned by Taleb AlAmeri and lead be primarily take ind in the provision of variety fresh food products such as cheese, chocolate and fresh, cream cakes, health cakes and brownies.The business mission statement is to be solution oriented innovatively and the vision is to be one of the leading telecom munication companies in Africa. The objective of the company is to provide concern opportunities youths, generate income for possessors and to give 10% of the revenue back to the community.The fundamentals of this business success rest with the capacity to deliver value to the customer at free-enterprise(a) prices (Ajami, Cool Goddard, 2006).With the background knowledge of stiff contestation in the food industry inwardly Dubai, this franchise aims at attracting and retaining its customer finished and finished the provision of fine quality food products and distinctive service. In addition to the above, the fundamentals of this business willing encapsulate best demonstration of ethical practice within two the internal 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 and innovative approaches to food service and delivery will define s uccess within this industry. Changing consumer demographics and increasingly complicated customers ar pushing food service businesses to the drawing boards (Toyne Nigh, 1999). The success of this franchise will depend on the capacity to create a mighty market niche that cannot be broken.General Company DescriptionWhat makes the business very unique is the realization that businesses and consumers are increasingly demanding more leading edge in service and product delivery in the most efficient, clipping saving and reliable way (Hill, 2008).The Secret Recipe situated at Dubai Mall, UAE a franchise of Secret Recipes will be primarily involved in the provision of fine quality cakes and fusion food. This will encompass the provision of more than 20 types of fusion food, 40 cake creations and pastries, with a flavorsome go of ice cream and beverages.Mission statement To provide world class food services to the customer.Vision To become a leading provider in fine quality cakes and f usion food.The company will offer value addition 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 preferred choice of quality fine cakes and fusion foods online. The website will be used to publish and sell 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 capital by thirty-first December 2010 to staff and launch the business towards achieving its long term goals.To attain the stated year goal of recruiting employmentees by the beginning of the year 2011.ObjectivesAchieve nice take aims of high ethical standards within the food industry.Have a healthy, successful company that is a leader in customer service and that has a hard-core customer following.Achieve a sales target of $20,000 within the first three months of the operation.Business Philosophy 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 different backgrounds in United Arabs Emirates. However, I envisage to draw the larger protrude of my customer base from the residents of Dubai City. Because of the increasing innovative marketing approaches, the marketing strategy will strive to reach customers of diverse backgrounds and will then be contract down to touch on the specific market niche.Food industry is a growth industry that has leaped from one phase to the other and is expected to scan tremendous growth in the future. Changes that will arise in the future will mainly be in regard to changing demographics and the complexity in the demands of the customer. This will in like m anner 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 competency that will also be my agonistical advantage is the unrivalled experience in the food industry and chain management. As the owner of this franchise, I plan to put in an aggressive and innovative marketing campaign 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 divide of operation that have made them acquire a deeper sense 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 expe rience, location, advertisement, employee, technology, financial, policy-making connection and goodwill.I plan to plough in my vast experience in management 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 waning 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 image building.This will be a sole proprietorship type of business. This is because I believe the inability to raise adequate capital forms the cogitate behind enlargement and partnerships. Capital is not a problem in my case. Furthermore, sole proprietorship offers the best and simplest environment in regard to decision reservation (Cherunilam, 2004). I plan to execute my decisions and discharge my duties within thi s 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 that is aimed at drawing the customer to the business. marketing PlanMy marketing ill revolve around the need to adapt my brands to meet topical anesthetic and regional c ulture because of the understanding that branding 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 the great unwashed 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 commonly 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 goal of performance-profitability-has competitive advantage. A reference back to the branding generic model of firms can be made, where the question of whether firms are branding strategies is cost driven or value added arises. quantify added competitive advantag e arises in instances where competing firms attach strong cognizance to the understanding of local or regional culture before launching their product lines. Companies gain 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. counseling and OrganizationAs I have stated, the day to day management of the business will be my primary duty with the support of other individuals that will form part of employees in the company. The procedure of running the business will be through delegation as per the chain of current bellowDIRECTORS CEOs ripened MANAGERFINANCE MANAGERASSISTANT AGENTSWATCHMENHUMAN RESOURSE MANAGERThe managers and the staff are ve ry 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 running(a) jointly as shareholders. The founders of the company share a vision for the success of Secret Recipe Franchise situated in Dubai, UAE. Their duty will involve day to day running of the business which involves finance, logistics and adult male resource.In future the company will have a general manager, finance manager and human resource manager who must have a degree or diploma with the relevant course from a recognized University or College.5.3 Other forcefulnessApart from the management team, the company is having three (3) supervisors at the head office and one (1) assistant supervisor in every department. The company is planning to employ watchmen, office messenger and more assistant agents as we will be expand ing. These personnel have and will have minimum qualification 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 advertising through posters, internal memo, friends and relatives, internet, electronic media similar radio and printed media like newspapers.The recruitment process will involve short-listing of the applicants, interviewing of the shortlisted applicants, selection of the successful applicants and finally issuing the appointment letter. We will also recruit through confirmation of the interns and the volunteers.5.5 Orientation, training 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 courses, internship an d evaluation after training.The company is looking forward to become custodians of a very fragile yet full 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 Remuneration/incentives5.6.1 Salaries/ proceedsThe 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 payment 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 particular course of action which in turn will contribute to the company success. We will offer allowances in terms of overtime, leave, millage, hardship and many more as they may arise. There will be bonuses including awa rds in terms of value for money and certificates.Currently the company provides tea, soft drink and has installed a television system. The business will soon adventure on taking our staff to the trips, have insurance cover for them and remit component parts on their behalf to their respective insurance companies.5.7 Support servicesThe company will pack the following support services financial advisor, legal advisor, banking system, security support services, infrastructure and insurance services.9. FINANCIAL PLANThe company has at its disposal 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 on as proposed, the start-up cost must be met. The company is therefore proposing funds from borrowing sources of $ 20, 0009.1.3 Total 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 Measurement of profitability9.7.1 Operating profit marginOperating profit margin = (operating profit/Revenue) x vitamin CFirst yearOperating profit margin = (1,400/101,500) x 100= 1.38%Second yearOperating 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 Return On enthronisation (ROI)Return On Investment (ROI) = Net Profit/InvestmentReturn On Investment (ROI) for the ended December 31, 2010 = 1400/23,000= 0.06