Business Plan Research Paper Example | Topics and Well Written Essays - 5000 words

Business Plan - Research Paper Example It is one of the beautiful shopping malls in gulf region. Dalal Complex is a seventeen floored building consisting of several retail shops, brands, cinema complex and restaurants. Skinfood will be situated in the first floor of the building. The entire shopping mall has abundant places for parking with a capacity of about 500 vehicles and has also astounding view. Furthermore, the shopping complex is also equipped with modern technologies, music systems and strong security facilities (Dalal Complex, â€Å"About Dalal Complex†). Products. The business will provide several skincare and cosmetic products such as makeup, cleanser, mask and healthcare products among others. These products are made from natural food ingredients and developed in its real form as product elements which comprise fruits, vegetables and other food components (Skinfood, â€Å"Products†). MARKET PROSPECT The international skincare industry has increased considerably in recent years, recording about 4% growth in the year 2009. In United Arab Emirates (UAE), the market of skincare and cosmetics products has continued to demonstrate strong dynamism, having robust growth in sales. The most important product categories in the skincare and cosmetics market are colour products, hair care products, fragrances and skincare products (AME Info, â€Å"UAE Market For Skincare Products Expected To Be Worth Dhs540.3m In 2015†). Globally, customers had spent about US$2 billion in a week on skincare products in 2011. This market is characterised by invention, personalisation and segmentation. From 2005 to 2010, the market value of skincare industry in Middle East and Africa increased from US$1.4 billion to US$2.4 billion, indicating a Compound Annual Growth Rate (CAGR) of about 12% (AME Info, â€Å"UAE Market For Skincare Products Expected To Be Worth Dhs540.3m In 2015†). In Gulf Co-operation Council (GCC), skincare industry had been demarcated to become doubled from 2005 to 2010 . According to the research of Euromonitor, the market of skincare products will demonstrate steady growth, where facial care products will hold the biggest market segment. The findings suggest that skincare market is expected to increase at CAGR of 5%. This growth is determined by sustained progress of UAE in monetary front. Besides, a growing number of populations are also found to pay more concentration on taking care of health. The UAE market of skincare is based on retail setting. Combined with considerable product innovation with respect to discerning customer base, the prospect of skincare products in near future continues to be positive (AME Info, â€Å"UAE Market For Skincare Products Expected To Be Worth Dhs540.3m In 2015†). Accordingly, global skincare organisations are progressively targeting the growth oriented market of Middle East and Asian region. People nowadays are providing considerable emphasis on taking care of skin and it has become one of the regular ro utine activities. Furthermore, the global skincare manufacturers are increasingly targeting customers with new product lines which can serve the requirements of this particular market segment. In the UAE, facial care products are the fastest growing market segment in the skincare industry. Facial care products are estimated to grow at CAGR 6% (AME Info, â€Å"UAE Market For Skincare Products Expected To Be Worth Dhs540.3m In 2015†). The other important market segment in skincare and cosm