Fast food joints offer a limitless opportunity for small-scale entrepreneurs across the globe, and the UAE is no exception. The country is business hub in the Middle East and this is boosted by the millions of tourists who frequent the country on a regular basis (Wilcox et al., 2013). The demand for fast food is equally high and this is the gap I intend to exploit. Most of the food joints are located in malls and this creates a gap for other small start-ups like mine to thrive. The snack set-up (branded SnackExpress) will be located at a strategic point along the tourist sites, where the number of potential customers is impressive. I will start with two (2) branches before expanding, depending on the returns.
- Brand image- We want to create a lasting brand image under the banner SnackExpress. We envisage standing out as a dependable, efficient and affordable food joint in UAE. This will be achieved through excellent customer service, freshness as well as competitive pricing (Gundala, & Khawaja, 2014).
- Customer Relationships-We want to move closer to the customer, understand their needs and work on a collaborative platform to add value to their lives and experience in Dubai (Sharma & Lambert, 2013).
- Sustainability-We undertake lying down a long-term vision that combines quality, innovation and consciousness to changes in the market to be able to last long and meet customer demands.
- Culture-To establish an acceptable brand through a culture of responsibility, accountability, compliance and eco-friendliness through all processes (Jasra et al., 2012).
- Market Share-To claim a market share of at least 5% within the first year of operation. Due to our size, the percentage is drawn from similar start-ups around our area of establishment. Eventually, we would grow the percentage to double figures in the subsequent year (Patak & Vlckova, 2012).
- Revenue-The total cost of the start-up is $0.5m.This includes the operational costs as the business establishes to sustain itself. As such, we are targeting to recoup around $0.25million within the first year.
- Profit-We are targeting to make a profit of around 50% within the first year after which we shall set new targets for the second year depending on our capacity to expand.
- Recognition-We want to enter the market and create a lasting impression through our uniqueness. We plan to boost our visibility through aggressive marketing and collaboration with customers and other critical partners so that we can boost or ranking and become the number one fast food joint in the city (Patak & Vlckova, 2012).
- Expansion-We plan to open up to ten new branches in the second year as well as starting door-to-door deliveries to enhance our market share and profitability.
- Competitive pricing-The snacks will go for a very affordable price with the highest price being $4.5(for a combo).This price is $0.5 cheaper than what our competitors offer. The price will be adjusted from time to time depending on the market trends, but we will have a maximum threshold in place.
- Referrals- We plan to utilize the few customers that we serve on the opening day as agents of our growth. Through our excellent service and value addition strategies, we want to have a high number of return customers (Plouffe et al., 2014).
- Target Marketing-We are targeting a small market which will serve as our platform for growth and expansion. Through market segmentation, we will target small-scale and domestic tourists who usually go around the city on foot.
- Problem-solving-We position ourselves as an alternative brand for people who are tired of flocking into malls for snacks as well as those who fancy eating while going around the city. We also front ourselves as a value adding brand that caters for clients of the medium bracket and locals (Plouffe et al., 2014).
- Offers and Promos-We shall have a variety of offers in place including “buy one get one free”. This will be seasonal especially during the summer holidays when the influx is high.
- Door-to-door Delivery-We will move closer to the customer and in initiate delivery of snacks to our clients. This will happen in the second half of the year.
Tactics and Calendar
For efficiency and sales (growth) monitoring, we will employ a lean manufacturing and operation strategy. We will only manufacture and stock what is required by the customer through predictive marketing. The customers will “pull” the products from the manufacturing point to reduce wastage through overproduction as well as cutting down storage expenses. We will put more emphasis on a manufacture on ordering process. To move faster towards achieving our goals and objectives, we will have a bi-annual calendar which will be a guide for all activities and a tool for improvement.
Increase market share
Increasing return customers
Gundala, R. R., & Khawaja, H. (2014). Brand management in small and medium enterprise: Evidence from Dubai, UAE.
Jasra, J. M., Hunjra, A. I., Rehman, A. U., Azam, R. I., & Khan, M. A. (2012). Determinants of business success of small and medium enterprises.
Patak, M., & Vlckova, V. (2012). Demand planning specifics in food industry enterprises. Business and Management, 7, 1168-1175.
Plouffe, C. R., Bolander, W., & Cote, J. A. (2014). Which influence tactics lead to sales performance? It is a matter of style. Journal of Personal Selling & Sales Management, 34(2), 141-159.
Sharma, A., & Lambert, D. M. (2013). Segmentation of markets based on customer service. International Journal of Physical Distribution & Logistics Management.
Wilcox, G. B., Williams, J. D., Kamal, S., & Kim, K. O. K. (2013). The role of advertising on attitudes and consumption of food and beverage products.. Springer New York.