Haya AlFulaij, Fai AlEbraheem, Farooq AlKhaja, Hasan AlKhaja, Mubarak AlBahar, Mishal AlZamil
Subject Area: Business Model/Strategy Expansion
Industry: Food & Beverage
Company: Maison Mathis x Almo Enterprises
Decision Maker: Farouk AlMoayyed
Challenge: Almo Enterprises, a family business conglomerate located in Bahrain, presented us with a challenge they were experiencing with their new restaurant. Over the past 80 years, Almo enterprises have become leaders in many industries but the restaurant was not one of them. They believed that the restaurant industry had huge potential and one that could thrive under Almo Enterprises’ umbrella. The restaurant industry was growing fast in the country, and the directors were eager to grab a hold of the opportunity. Despite that, the restaurant was losing money, and the directors were questioning whether leaving the restaurant opened would harm the company’s reputation. The client, being the owners of the family conglomerate, expressed their uncertainty on whether it should close down and minimize losses or continue to operate with a change in the business model. The two options were closely studied, but we believe that the restaurant has extreme potential, and a change in business model would offer Almo Enterprises an easier path to success in the field/industry.
Project’s Relevance: Team Composition
Our focus as a team was to gain more knowledge about the restaurant industry in the gulf, and improve our skills in evaluating customer wants while learning about an extremely fast-growing industry in the region. We were interested in the challenge presented by Almo Enterprises because we as a team have a family business that we can relate to. Not only that, but we were fascinated by how customer-oriented Almo Enterpises’s divisions were, and applying it to the restaurant was something aligned with Almo Enterprise’s core mission.
Our goal was to gain the owner’s trust by understanding the complexity of the industry, but also allowing them to overcome the challenge by providing them with outside research and recommendation through various methods. Through our teams specializing in Finance, business strategy, entrepreneurship, management, and new business ventures, we were able to provide Almo Enterprises with different recommendations from different viewpoints from various fields. Each member’s specialization can be found below:
- Haya AlFulaij: BS in Entrepreneurship and Finance, utilized her entrepreneurship knowledge to aid in the solution of the restaurant industry. Also, bringing in her past experience with a restaurant in Kuwait.
- Fai AlEbraheem: BS in management and Entrepreneurship, utilized her experience from previous positions to get to know the owners’ goals and priorities to better find a solution.
- Farooq AlKhaja: BS in entrepreneurship and Finance, utilized his experience in conducting market research about countries and industries, also providing insight into changes in business models.
- Hasan AlKhaja: BS in entrepreneurship and finance, utilized his entrepreneurial mindset in bringing innovative ideas revolving around the F&B industry.
- Mubarak AlBahar: BS in entrepreneurship and finance, utilizing his financial experience in financial expectations, costs, and needs, based on past training in the F&B industry.
- Mishal AlZamil: BS in entrepreneurship and finance, assist with data and knowledge about cloud kitchens due to affiliation with family businesses and partnerships.
Connecting with the Company’s Reality and Investing in Social Capital:
Methodology & Data Generation
- In order to understand the challenge and find a solution, our team collected data from the chairman of Almo Enterprises and 50 restaurant customers. We exchanged emails with the Chairman’s secretary to stay in contact with the decision-makers. We were given a historical timeline to recognize the competition in this industry and choose from the suppliers provided.
- In addition to primary sources, we collected secondary data sources through market research. We knew how small of a country Bahrain is, however, we discover that their Food & Beverage industry is taking over the country. Therefore, there was availability for substitutes and new products.
- In our team’s investigation, we came upon Bahrain’s market conditions, GDP, evolving Fintech industry, and Food and Beverage industry.
- After gathering the details, our team created a SWOT analysis and used Porter 5 forces framework to realize what the company is lacking and gaining.
Our findings for Almo Enterprises x Maison Mathis, will be presented in the next board meeting in Bahrain for further evaluation in how to proceed with the restaurant.
Generating Value and Investing in Professional Capital: Findings and Recommendations
After analyzing the information and discussing it with the consulting team, a feasibility study was conducted to determine the best course of action moving forward to better position Almo Enterprise in the restaurant industry. The consulting team was against closing down, as that was the easiest option with no reward. By working with Maison Mathis’s extreme potential and Almo Enterprises resources, our team has come up with strategic recommendations that would either add a source of revenue or change the business model. Different recommendations have been identified.
- Serving Hookah & Alcohol
- Change in Management
- Using a cloud kitchen model
By implementing one of these decisions, Maison Mathis can move forward with projected growth and success. Based on the analysis from the SWOT, which includes a strong reputation for Almo Enterprise in the market, we will make recommendations that include the implementation of a change of business model that would allow Maison Mathis to compete or outlast its competition. Moreover, the success of Maison Mathis can prove to be a new milestone for Almo Enterprises as they enter a new market. Entering the new market will diversify their business operations and allow them to get a foothold in another industry in the region.
Strategic Vision: Capitalizing on the Project
- While working with Almo Enterprises, our team suggested multiple strategies for the company to choose from. Our findings included in-depth analysis of possible opportunities worth consideration while providing a SWOT analysis for each opportunity and eventually comparing these options while utilizing our conducted SWOT analysis. As well as providing a SWOT analysis for various options to consider, our team provided a SWOT analysis for the current state of Maison Mathis.
- Our in-depth analysis of each option’s strengths, weaknesses, opportunities, and threats led us to agree on the best two options for the company moving forward.
- Our team worked hard to find the final two options we believe would benefit Almo Enterprises the most. With our mutual backgrounds and coming from similar cultures, we were able to utilize our experiences and knowledge in the F&B industry to benefit the company. Through our analysis, we are confident that Maison Mathis’ transition towards introducing Hookah and hiring ex cafe Lilou employees will be key towards Maison Mathis’ growth and success.