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Draft Business Plan
You are required to submit a copy of the draft business Plan which tells your lecturer which industry you intend to do set up your business in and the reasons why. Please include a milestone timeline of when you intend to complete a particular task.
You will need to think about what business are you going to do. Then think about why you want to go into this business? Next, you will have to identify an international market for your business/product. When you are choosing the market to penetrate you will also need to think why this particular market and not any others? What are the factors pushing you into this market?
As it is a draft write down the nature of your business/services/product, identify the international market and list down the factors for choosing the particular market. At the same thing list down the disadvantage of the going into the market.
I would like you to also list down and explain the competitive advantage of your business/services/products.
The report is going to discuss a draft business plan of setting up an Italian food chain in the central part of Dubai. It is going to brief the factors considered for choosing the restaurant business as well as the target market penetration. Dubai being competitive does pose disadvantages for a new entrant but it would be surpassed by the competitive advantage we ensure through our product and services (Gulf News Reporter, 2014).
Nature of the Business
Crusty's an Italian cuisine restaurant would be the focus of our business plan keeping in mind the growing customer base, rapidly developing customer's taste, the quest for new variety and health consciousness seen majorly in the recent years in the food industry. A major focus would be showcasing the authentic Italian taste using organic as well as home-made sauces, pasta and spices with a set up that would remind them of being in Italy themselves.
Dubai being a hub of opportunities also poses a huge threat of extreme competition from both the local as well as international brands existing in the market. Availability of easy substitute in the industry does eat a substantial share of profit. It has restricted free zone outside the city premises for outsiders to buy a set up as an individual entity, to operate a business within Dubai it is required to have a local citizen's association. Dubai being a desert country by nature is extremely hot and dry in summers, therefore this makes restaurant business lean during summer daytime (International Markets Bureau, 2010).