Kacchi King is a take away food shop specialized for food lovers, especially for those who are from Old-Dhaka (puran Dhaka people) and now misses the foods of that place. We know that Old Dhaka is so famous for delicious, mouth-watering foods. Even at times of Ramadan, people’s first choice is Dhakaiya iftar. The main purpose for creating our business is that many people of Old-Dhaka who have left that place and shifted somewhere in new Dhaka cannot enjoy the same food and taste, so we thought of bringing them the same food in close proximity. To get the popular foods of Old-Dhaka they have to actually go to Old-Dhaka, because very few items are found at other places. Due to constraints like traffic jam, people can hardly move from here and there. So we want to open at a prime location, Banani and therefore, we would be selling only the popular foods of Old-Dhaka, brought exclusively from respective shops where these are made. We would sell the iftar items as well. There will be one pick-up van which would bring all the foods from the different store of puran Dhaka. As we would also give home delivery that is why there will be two motor bikes. Our packaging would be very comfortable to carry bags. It will be tightly packed so that the food doesn’t get cold easily. Our shop is dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, at an acceptable price/value relationship. We try to maintain a friendly, fair, and enjoyable relationship with our customers and try to show our hard work through improving our services. The other reason for opening this type shop is, this is our traditional food. By serving all traditional food we can attract foreigners living in Bangladesh. Lastly, this concept of only takeaway food shop is new in Bangladesh, so we would like to introduce it.
Our Objectives: * To establish a presence as a successful take away food shop in Dhaka by establishing our brand and gain popularity with our work. * To make Kacchi King the first choice for every food lovers, starting from students to corporate business or office workers. * To expand our shop and sell the franchise to neighboring metropolitan cities.
Our Mission: To supply quality food and taste especially for those of old-Dhaka people and new generation so that they understand why the foods of old Dhaka is so popular.
Our main focus will be serving high-quality and hygiene food at a great value.
Our Slogan: Dhakaiya food under one roof.
Keys to Success: * Provide an easily accessible location for customers. * Offer customers a wide range of old Dhaka branded product & services under one shade and extended business hours. * Service our customers ' needs promptly and efficiently. For example, delivering the goods at exact time. * Maintain an excellent working relationship with vendors such as suppliers, employers. * We will try to provide best services at reasonable cost. * We are conscious about our responsibility * Create a unique, innovative, entertaining menu that will differentiate us from the rest of the competition * Control costs at all times, in all areas and implement a conservative approach to growth policy. * Sell the products that are of the highest quality, as well as keeping the customers happy with all of our product categories from food to store merchandising. * Provide 100% satisfaction to our customers and maintaining the level of excellent services among other competitors. * Encourage the two most important values in fast food business: brand and image, as these two ingredients is a couple of main drivers in marketing communications. * Promote good values of company culture and business philosophy
Business Description:
We would mainly serve food that people can take away. But we would also give home food delivery to nearby locations, offices especially. People are having so much fast food nowadays. Fast food hardly meets the hunger desire of Bengali people. Therefore, keeping this in mind, we decided to open a shop where the foods are completely traditional. Youngsters can be diverted from junk fast foods. People will experience a new taste. We would like to establish our brand and create some loyal customers. We would severely maintain a hygienic condition for food preparation. We would bring the foods directly from the stores of Old-Dhaka. We would first analyze that which food is popular in which shop. These foods won’t be touched by hands without clean gloves. We would keep fresh foods only. We would try to order such amount that hardly there would be any leftovers. Even if there remain, we partners would share that. Our pick-up vans would bring the foods from there in the early morning; one of the partners would visit there. We would try to keep the foods hot.
History of Business: People of Old-Dhaka are our main customers who have now shifted in many areas in new Dhaka. We designed our total plan not only for young generation but also all age of people. We will provide our service for all up-coming people. We want to capture the total customer of Banani area. Then move further. Customer will get excellent services & hygienic quality food items. We mainly want our cultural foods to sustain. Because, the foods that we would offer is there in Bangladesh since the Mughal period.
Target Market: Our business would serve for all income group-people. Students with low income, middle class people with moderate income and also higher class people.
Business Type: Service business.
The Services:
The timing is right for starting this new venture. Patiently searching for six months for the perfect location, one was finally found. The demand from the owner 's clients, as well as the ambitions of the owners to one day start a food shop, and the perfect location of our shop is Banani-11, Dhaka. This is beside two big universities like Primeasia and AIUB. There are even many banks and branches of other offices.
Our hotline numbers are 9009454, 9002445, and 8056325. For more information, please log on to http://www. KACCHI KING.com Firstly, we would be targeting two types of people. One, who is from Old-town and knows the real taste,. Second, the new generation, who is not aware of the delicious taste of old-Dhaka food. We have designed our total plan not only for the students but also other people. We will provide the services mainly for teen agers to elderly people. We want to capture the total customer of Banani, Gulshan, and near-by areas. Customers will get excellent services & quality products.
The foods will be
Grill Chicken = 120tk
Khashir Chap = 70tk
Chicken Roast = 80tk
Koyel fry= 80tk per piece
Korma = 50tk
Murog Polau =150tk to 300tk
Kacchi Biriyani = 180tk
Tehari = 70tk to 200tk
Polao=70tk to 700tk
Halim= 50tk to 300tk
Nihari = 50tk to 300tk
Tikya Kabab =10tk to 50tk
Boti Kaba=30-150tk
Shik kabab =30tk to 150tk
Bakorkhani = 5tk to 30tk
Ruti = 5tk to 15tk
Naan Ruti = 25tk to 75tk.
For Ramadan Special:
Beguni
Pakora
Aloo’r Chop
Dim Chop
Chicken or mutton halim
Beef Chap
Doi bora Shahi Jilapi
Shahi Tukra
Shahi Ruti
Handi kabab
Chhola
Ghugni
Boro baaper polai khai
Bundiya
Luchi and so more..
These food items would mainly be brought from different shops like, Star, Al-Rajjak, Queen, Bismillah food shop etc.
Why people will come to us:
Firstly, we are providing all Dhakaiya food under one roof, so people can get benefit from it. They do not have to roam around different places. Secondly, it is a traditional food house. In order to maintain our culture it is necessary to keep our traditional food. We can display this arrangement to attract foreigners staying in our country. Lastly, it can help young people to divert from fast food. This store is unique in that we will give our clients our undivided attention. We will listen to their needs and heart and soul try to solve their problems.
Customer Benefits:
They can save time and easily take the readymade proper meal at home and enjoy it while watching TV, movies etc.
We have the facility of home delivery too. That would help mainly the office workers or teachers and professors at schools, colleges or universities. They can call us just before the lunch hour and we would try our level best to deliver hot food right on time. This could give them benefit.
We would only offer cooked food. No salad items so that people can go home and heat the food up in the microwave-oven if needed.
This would reduce the pressure or burden of a housewife or the working mother at home.
Warranty and Guarantees:
We can assure the customers about the quality of the product. We will make sure that all the food items are hygienic and good for the customer’s health. To prove the statement we will assign a food specialist.
Again if any customer find our any kind of product out of date or defectives, we will make them the assured to exchange that product whenever they demand or on the spot.
Business Environment and Market Analysis:
Industry Analysis
Kacch King is a start-up business that provides best food items & quality services to our valuable customer. It will, upon commencement of operations, sell a wide range of products and services. What will set Kacch King apart from the competition is our commitment to providing all of healthy products in one convenient location. To achieve our objectives, we need near about 30 Lac. Among of the needed fund, 6 Lac will be financed by the owners. The initial capital will be used to obtain one pick-up van, 2 delivery vehicles, to purchase the products, to rent the floor, to bring utilities supply, to decorate the shop, and to complete some legal formalities.
Future product or service offering: * We will increase our item limit to supply product * According to the customers demand we will enhance our business * We will introduce more and different services according to customers say
Competitive Analysis:
There are rarely any takeaway food shops in Bangladesh. And other than Old-Dhaka, there are no outlets where every famous items of Old-Dhaka are sold. Therefore, we are the first one to come up with this new food business, that Dhakaiya food under one roof. Yet, we consider Fakruddin as one of our competitors.
Market Analysis:
Target market:
As our target customers are mainly people from Old-town who know the actual taste of the foods, so we want to keep that flavor and quality exactly same and attract the new generation of our country. It is very difficult for student especially to choose the right food for their health. So we come up with the idea of serving those types of food which are not harmful for their health at all.
All types of income group will be our target. Students with very low income. Officers or office workers with moderate income. And businessmen with high incomes. People who lives in Banani, Gulshan and near-by areas are usually people with high living standards. So our main taget would be these group. If we could establish our brand and create loyalty customers then these customers can really prove to be profitable.
Competitive strategy:
As Michael Porter defines this strategy as the combination of three strategy presented in the below, so we will also maintain those important strategy as the competitive strategy. a) Cost Leadership:
To compete with the competitors we will follow lowest cost strategy. We will provide the product or services at a lower price as we can. If we can collect our product from the main dealer than we can reduce our cost which will help us to keep our product price low. b) Differentiation:
As we are presenting a variety of Dhakaiya products, that definitely it will be a unique one for the present market. It will also help us to differentiate us from the competitors. c) Future focus strategy:
We choose the people from Old-Dhaka and new generation as our target customer along with all income groups.
Market Analysis Summary
The increasing number of new establishments such as fast food franchises, fancy restaurants and gourmet bakeries around Dhaka City has shown a significant growth in this sector. Food spending is around 56% of total consumer expenditures in Dhaka, and consumer spending on leisure and recreation made up of 13% of total consumer spending.
A much broader appeal exists for weekend slots because those are the days when most of our core target market enjoys the college & university going activities. * Age - Youngsters, single, currently enrolled in college and university going students * Family unit - We will also appeal to families (young families) with children. * Gender - We will target both sexes, with a slight skew for males due to their lower attention to dietary concerns. * Income - We will appeal to the medium income individuals and to all in the lower medium income bracket.
Sales & Marketing Plan:
Our marketing strategy is a simple one: satisfied clients are our best marketing tool. When a client leaves our business with a new look, he or she is broadcasting our name and quality to the public. Most of our clients will be referrals from existing clients.
No major advertising campaigns are anticipated. Our research has shown that word of mouth is the best advertising for this type of business. We will, however, run specials throughout the week. We will also ask clients for referrals, and reward them with discounted depending on the number of clients they bring. We will also offer discounts to the new customers who have been referred. We would try to give special day discounts. As marketing strategy is the combination of four Ps that is Product, Price, Place and Promotion; we will also focus our marketing strategy on these four elements.
Product:
We have already mentioned about our product and services, hardly we will try to attract a huge amount of customers by fulfilling their needs and wants. We believe in the customers’ loyalty. When they get better services they will influence other people to come to our shop and make them interested to buy our food items.
Price:
Our price will be moderately high due to our high expenditure. We are bringing foods directly from the respective shops of each famous item. Sometimes, we would place order according to customer needs. This requires a bit high price. Then again, customer’s transportation cost is saved; they don’t have to travel so far to get the famous items.
Place:
We select the Banani-11 area for our business. It is just in the important place of Banani area where customers’ communication way is very easy and much comfortable to reach. There are several banks, offices and universities. So we can target those people over there.
Promotion:
As we have already mentioned we will not go for large advertising campaign. To give introduction of our new business, we will campaign by using wall posters, inserts in front of mosque at Friday afternoon. Web page promotion, Direct mail piece, TV advertising based on area at one time, Newspaper campaign, etc. would also be used.
Distribution Channel-
Every product maintains some steps to distribute their products to final customers. It contains four steps: manufacturer, retailer, wholesaler and customer. But in our business there is no wholesaler.
Manufacturer
Retailer
Customer
Desired image & position in market:
We hope that it will be able to create a good image in the customer mind. As it will create a good image in the present market so we are very much hopeful that it will gain a higher position in the field of market.
Product Forecast- * In future we want to expand our business. * According to the customers demand we will enhance our business. * We will introduce more and different services according to customers say. Operational Plan: Machinery & Equipment- 1. Computers. 2. Refrigerators. 3. Air Conditioner. 4. IPS. 5. Water Filter. 6. Wall Clock. 7. Utensils. 8. Music system. 9. Barcode Reader 10. Credit card reader
Location and Layout:
We targeted Banani-11 area, so it will be obviously located at Banani. We select Banani to establish our shop. As many students move here and there from morning to the late night so it is a popular place for the people. We will buy a space of 200-300 square-feet in a Multistoried Building. Anybody can easily come here. There is a simple guideline of our location as follows:
Management Summary
The organizational plan is the part of the business plan that described the ventures form of ownership. This business will start out as a general partnership business Saraf Anika Amy co-owner with Farhana Haque Purnima, are experienced and dedicated professionals with three years in Green Palace Departmental store at California in USA. Farhana Yesmin, Abdullah Al Masud and Tahmidur Rahman Mahin have experience of working in McDonalds for two years. Now we jointly want to create a new business at Banani, in Bangladesh.
Human Resource:
Initially, Kacchi King will include 2 staff and 3 drivers along with the five partners.
Management Team Background:
Saraf Anika AmyBBA in Finance,MBA in FinanceAddress: 3/3/9, 11-A Mirpur; Dhaka. Mail address- sarafanika2011@yahoo.com | Tahmidur Rahman MahinBBA in FinanceMBA in Human Resource ManagementAddress: NHB 24, B-4, Block-B, Lalmatia, Dhaka.Mail Address: mahin_tahmid@yahoo.com | Farhana YeasminBBA in AccountingMBA in International BusinessAddress: 16/A, Block-B, Bashundhara, DhakaMail Address: farzinfarhana@yahoo.com | Farhana Haque PurnimaBBA in FinanceMBA in FinanceAddress: 93, Baro Moghbazar, Dhaka.MailAddress- purnimamoonlitnight@yahoo.com |
Abdullah Al MasudBBA in MarketingMBA in ManagementAddress: House-03, Road-3/B, Sector 9, Uttara, DhakaMail Address: masud9870@gmail.com |
Other staff members are also educated but not highly educated and each has experiences.
Financial, Risk Management & Loan Proposal Plan:
Start-up Summary
The retail outlet will be rented at one of the target location Banani area.. Startup requirements will be financed through owner investments.
Financial objectives are: * Making a sufficient profit within 5 years * Increase revenue day by day * Personal development by gaining profit * Contribute in social economy
Other Objectives are: * Increase entrepreneurial interest by attaining higher position * Increase employment opportunity * Create opportunity for student to do a part-time job * Create Consciousness of the students for their health
The financials that are enclosed have a number of assumptions:
Revenues will grow at an annual rate of 10%, increasing 20% in November and December. We anticipate this increase to stay steady throughout the following year to account for the normal flow of new customer coming into the shop. Estimates for sales revenue and growth are intentionally low, while anticipated expenses are exaggerated to the high side to illustrate a worst case scenario.
We did not use cost of goods sold in our calculations of net service sales, but included all related recurring expenses, such as payroll and supplies, in the operating expenses area of the profit and loss account. The only direct costs in the sales forecast are for projected product sales.
Product sales are a maximal part of our market. We are not quite sure how much revenue will be derived from products, so we estimated sales of Tk.1500000 a month. We are not quite sure how much revenue will generate. We are certain that in time these services will be a large part of our revenue, but to err on the conservative side, we estimate revenues from these services to be only Tk. 800000 a month for the first year.
Estimated expenses per month: Name | Amount(TK) | Electricity Bill | 10000 | Water Bill | 1000 | Staff-1 | 6000 | Staff-2 | 6000 | Transportation | 10000 | Telephone & Internet Bill | 2000 | Estimated Service Charge | 2000 | House Rent | 6000 | Driver-1 | 11000 | Driver-2 | 11000 | Driver-3 | 11000 | Total | 76000 | Sources and application of funds:
To achieve our objectives, we need near about 30 lakh. Among of the needed fund 30 lakh will be financed by the owners. The initial capital will be used to purchase the products, to rent the floor, to bring utilities supply, to decorate the shop, and to complete some legal formalities.
SWOT Analysis:
Strengths: * We have Experienced management team * Skilled owners * Knowledgeable workforce * We have experienced sales people * Distinctive characteristics in the market * Ensuring better and healthy quality of the food by the specialist * Special training program for sales person
Weakness:
* Uncertainty of gaining desirable profit as it is in start-up situation * Insufficient experienced to conduct the business as the theme is new * Lack of attracting desirable customers as there are a lot of store providing food
Opportunities:
* We have a better communication system to reach our target customer * We will develop a new theme that will offer the customers better value * Better chance to gain competitive advantage
Threats:
* Absolutely new idea. * Cost would be huge as the inflation rate is high in present economy * Rises in branded product price as there is a recession in world economy
Recommendation & Conclusion
In a poor country like Bangladesh entrepreneurship development is very much necessary to accelerate the economic growth of the country. But unstable government, improper training facilities and their evaluation, inadequate credit supply being the major constraints to be successful in creating and sustaining the business venture in the long run.
Bibliography
Griffins. (2004). Introduction of business. Philadelphia: Kogane Page.
Kotler, P. (2004). Principle of Marketing. Chicago: Oxford Press.
Ross. (2007). Fundamental of Corporate. New York: NY Press.
Bibliography: Griffins. (2004). Introduction of business. Philadelphia: Kogane Page. Kotler, P. (2004). Principle of Marketing. Chicago: Oxford Press. Ross. (2007). Fundamental of Corporate. New York: NY Press.
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