Chick Queen Fast Foods

8/2/2019 Chick Queen Fast Foods

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NABEELA FAIZ

1/11/2012

CHICK QUEEN FAST FOOD

RESTAURANT


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CHICK QUEEN FAST FOOD RESTAURANTPROJECTREPORT

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CHICK QUEEN

FAST FOOD RESTAURANT

HEAD OFFICE

1O-A, Street No 5 ,F-7/2, Super Market, Islamabad, Pakistan.Tel: (051) 111-111-456, Fax: (051) 5896619, 5899756

www.chickqueen.com.pk

SUBMITTED TO: Mr. FAISAL MEHMOOD

SUBMITTED BY: NABEELA FAIZ

RGT # FA08-BS(BA)-20

DATE: 11TH

JANUARY, 2012

DEPARTMENT OF MANAGEMENT SCIENCES

COMSATS Institute of Information Technology

Attock Campus


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EXECUTIVE SUMMARY:

Chick Queen is a locally owned fast food outlet that will be positioned as an international

franchise through our creative approach to the company's image and detail presentation. Chick

Queen will provide a combination of excellent food at value pricing, with fun packaging and

atmosphere. Chick Queen is the answer to an increasing demand for snack-type fast food, to be

consumed while window shopping and walking around shopping malls.

In today's highly competitive environment, it is becoming increasingly difficult to differentiate

one fast food outlet from another. Islamabad, a city state, is now becoming the model metropolis

for Asia's new economic boom. Our main priority is to establish one outlet in a crowded mall,preferably in one of prominent shopping malls in Jinnah super market in Islamabad. Later, our

effort will be a further development of more retail outlets in other cities of Pakistan.

This plan is prepared to obtain a location for the initial launch of this concept. Additional

financing will need to be secured for the two subsequent outlets, anticipated in first year. The

financing, in addition to the capital contributions from shareholders, will allow Chick Queen to

successfully open and expand through year five. Start-up funds will be utilized to pay for rent;

leasehold improvements; supplies; advertising; administrative costs; inventory; and labor for the

first six months. The initial capital investment will allow Chick Queen to provide its customers

with a value-driven, entertaining experience through the creativity of its founders.

Chick Queen will entice youngsters to bring their friends and family with our innovative

environment, fresh-cut Belgian fries, and selection of unique signature dipping sauces. Our

outlet also provides excellent and friendly customer service to support the ambience of fun,

energetic and youthful lifestyle.


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restaurants have become common throughout Pakistan. Generally restaurants, where the

customers sit down and have their food orders brought to them, are also considered fast food.

OPPORTUNITY RATIONALE

The Fast Food Restaurant Market is a growing industry in Pakistan relying heavily on the

changing lifestyle patterns, population growth of the target age group and the related increase in

employment of women. With today's hectic lifestyles, time-saving products are increasingly in

demand the most obvious being the fast food. The rate of growth in consumer expenditures on

fast food has led most other segments of the food-away-from home market for much of the last

one decade.

Demand for convenience has driven expenditures where people want quick and convenientmeals; they do not want to spend a lot of time preparing meals, traveling to pick up meals, or

waiting for meals in restaurants. As a result, consumers rely on fast food. Knowing this, fast food

providers are coming up with new ways to market their products that save time for consumers.

Consumers want to combine meal-time with time engaged in other activities, such as shopping,

work, or travel, therefore allocating less time for food, hence the growing need for fast food.

According to a recent public survey of people 15 - 45 years old, 80% of those interviewed like

fast food. 90% of them like fast food on a regular basis, and 10% of them claimed that they like

fast food "very much," or "love" fast food. The survey also provided the following particular

reasons for the increasing popularity of fast food:

People have 52 weekends and three long holidays a year. Most of people love to windowshop, and when they do strolling around the shopping district, they need a quick bite to

accommodate their activities.

White-collar workers in offices have stopped bring lunch, and enjoy chicken, hamburger,pizza or other fast food joints in the vicinity.

Parents give more money to kids and students to buy lunch. Fast food is naturally theirfirst choice, because of the brand building effort that heavily targets their age group.

Eating out still remains a common habit of life. They do not perceive fast food is aluxury, and they enjoy it by bringing their family, especially if they have smaller kids, in

the environment of the western-style fast food outlets.


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THE FAST FOOD INDUSTRY

The fast-food industry is popular in Pakistan, the source of most of its innovation, and many

major international chains are based there. The presence of multinational fast food chains likeMcDonalds, KFC, Pizza Express, Pizza Hut, Subway etc. have somewhat catered to the high

income segment therefore developing a niche as upscale fast food restaurants. Multinational

corporations such as these typically modify their menus to cater to local Pakistan tastes and most

overseas outlets are owned by native franchisees to ensure that cultural, ethnic, and community

values are taken care of.

Additionally, multinational fast-food chains are not the only or even the primary source of fast

food in most cities of Pakistan. Many regional and local chains have developed around the main

cities of Pakistan (for example Khan Broast in Karachi) to compete with international chains and

provide menu items that appeal to the unique regional tastes and habits at comparatively lowcosts. In Pakistan, multinational chains are considerably more expensive; they usually are

frequented because they are considered chic and somewhat glamorous and because they usually

are much cleaner than local eateries. However much of the middle-income segment (which forms

a major chunk of fast food goers) prefers visiting local outlets that offer low cost fast food, hence

more frequent visits.

INCREASING NUMBER OF FAST FOOD OUTLETS

The rapid rate at which the fast food industry continues to add outlets is as much a reflection of

consumer demand for convenience as it is a reflection of demand for fast food itself. Expanding

the number of outlets increases accessibility, thus making it more convenient for consumers to

purchase fast food. Especially in recent years, much of the expansion has been in the form of

"satellite" outlets. These tend to be smaller in size, with little or no seating capacity, and are

often in nontraditional locations, such as office buildings, department stores, airports, and

gasoline stations; locations chosen specifically to maximize convenience and consumer

accessibility.

CONSUMER APPEAL

Fast-food outlets have become popular with consumers for several reasons. One is that through

economies of scale in purchasing and producing food, these companies can deliver food toconsumers at a very low cost. In addition, although some people dislike fast food for its

predictability, it can be reassuring to a hungry person in a hurry or far from home.

Multinational Fast food chains rapidly gained a reputation for their cleanliness, fast service and

a child-friendly atmosphere where families on the road could grab a quick meal, or seek a break

from the routine of home cooking. Prior to the rise of the fast food chain restaurant, people


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Many more table service restaurants, which traditionally focus on full-service in house dining,

will likely try to capture part of this market by offering take-out, and possibly experimenting

with home delivery.

The value of consumer time, as well as the demand for consistent, high-quality food products,

will continue to shape the fast food industry. Fast food, once considered a novelty, has become

an increasingly significant part of the young generations diet. The role of convenience in this

dietary shift cannot be over-emphasized, and the future growth of the rest of the foodservice

industry will be driven in large part by its ability to find new ways to save consumers time.

OPENING A SUCCESSFUL RESTAURANT:

From burger stands to barbeque steakhouses more and more restaurants are popping up in cities

every day. Since restaurants are such a common business venture, people must enjoy runningthem. Chick Queen is a fast-food concept that specializes in burgers, pizza, beef and Chicken

with a menu that includes items such as Chips, Toasted Rolls and a variety of Sausages. Chick

Queen fast food restaurant came in the market with the aim of providing quality service to its

customers. With the rapidly growing trend of hygienic and low calories food, customers became

very conscious about their eating habits. So catering with the new demands of customers Chick

Queen selected the best menu for every type of customers with a blend of variety of foods.

COMPANYS PROFILE

Company name: Chick Queen fast food restaurantPlace of incorporation: Islamabad, Pakistan

Nature of Business: Fast Food Restaurant

Type of Company: Public Limited Company

Authorized capital: Rs. 5,000,000/- divided into 500,000 ordinary shares of Rs. 10 each

Debt: Equity: 25% : 75%

MAIN PRINCIPLES

Chick Queen recipe for success is based on three main principles:

Service: The customer is always king at Chick Queen Speed: We put the fast into fast food Satisfaction: Great food at great prices


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OBJECTIVES

To establish as a successful local fast food outlets and gain a market share in wolrds fastfood industry.

To make Chick Queen a destination spot for mall-goers. To expand into a number of outlets by year three, and sell the franchise to neighboring

countries.

MISSION

Our main goal is to be one of the most successful fast food outlets worldwide, starting with one

retail outlet located inside a major shopping mall as a "market tester."

Chick Queen will strive to be a premier local fast food brand in the local marketplace. We wantour customers to have the total experience when visiting our outlet(s) and website as they will

learn about this fascinating new "pop culture." Our main focus will be serving high-quality food

at a great value.

KEYS TO SUCCESS

To succeed in this business we must:

Create a unique, innovative, entertaining menu that will differentiate us from the rest ofthe competition.

Control costs at all times, in all areas and implement a conservative approach to growthpolicy. Although, we provide more than enough fund to open more than one outlet, we

want to be on the safe side of the business.

Sell the products that are of the highest quality, as well as keeping the customers happywith all of our product categories from food to store merchandising.

Provide 100% satisfaction to our customers and maintaining the level of excellentservices among other competitors.

Encourage the two most important values in fast food business: brand and image, as thesetwo ingredients are a couple of main drivers in marketing communications.

Get access to high-traffic shopping malls near the target market. Promote good values of company culture and business philosophy.

PROPOSED BUSINESS LEGAL STATUS

Although the legal status of business tends to play an important role in any setup, the proposed

fast food business is assumed to operate on a sole proprietorship basis which may extend to

public limited company in case of addition of new products that might add significant business to

the existing setup.


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LEGAL REQUIREMENTS

The Pakistan Hotels and Restaurant Acts Act 1976 is the law which requires the owners of all

types of restaurants to register and obtain a license with the government. The restaurant owner is

required to apply to the controller for registration of the restaurant.

Application for registration and determination of fair rates shall be made to the controller in

Form G together with a certificate of medical fitness in Form I from a registered medical

officer of the civil hospital in respect of the staff of the restaurant. For registration of a

restaurant, the owner of the restaurant is required to conform to the standard of health, hygiene

and comfort which standards have been set out in Schedule II of the act.

On receipt of application, the controller will carry out inspection of the aforementioned premisesand once satisfied will initiate the registration process. Once registered the owner of the

restaurant will apply to the controller for license as per the Act which needs to be renewed on a

yearly basis for the prescribed fee.

SECP REQUIREMENTS FOR SETTING UP THE BUSINESS

Starting a new business in Pakistan has been made easier in modern times due to the use of

technology. Most of the steps can be completed online. You will still need to visit local agencies

to obtain necessary paperwork to start online registration and to complete the final steps of the

process.

PROMOTERS ROLE

Following are the steps followed by the promoters ofChick Queen Co.

Visited the Securities and Exchange Commission of Pakistan's (SECP) website to filecompany name online. It was made sure the name does not exist already by searching for

our desired company name.

Paid the name and registration fees on the SECP website through our bank account. Registered our company through the Registrar of Companies under the eServices section

of the SECP website. For this, information from our company incorporation forms,

national identity card, memorandum and articles of association was needed.

Obtained digital signature and proof of registration. The digital signature and proof ofregistration will come through the SECP website from the National Institutional

Facilitation Technologies (NIFT) two days after we registered our company (given that

we followed all the registration guidelines properly on the SECP website and have the

proper documents).


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Registered for income tax with our national tax number (NTN) on the SECP website.Applied for an NTN by providing proof of registration, our memorandum, articles of

association and bank account number. NTN of directors and an attestation of our

registered business address was also needed.

Registered for sales tax. Once we had registered for income tax, we obtained a PIN code,a unique identifier number and a secure password by visiting the Federal Board of

Revenue's website .

Registered for the Pakistani Professional Tax with our local tax authority. Finded outwhere our local tax authority is located and then visited the office. There we met the

District Excise & Taxation Officer to request to enroll our business as an "assessee."

Register with the Employee Social Security Institution (ESSI). Visited the ESSI mainoffice in Karachi to meet the registrar for new companies. Brought with us memorandum,

articles of association and company incorporation documents.

Registered for old age benefits with the Pakistani Employees Old-Age BenefitsInstitution (EOBI) and paid a registration fee.

DOCUMENTS NEEDED

Pakistani national identity card Pakistani memorandum and articles of association Pakistani bank account number National tax number (NTN) of each of your business directors Attestation of business address Registration forms


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After compliance of above mentioned steps, the promoter will prepare the following documents

and submit with the Registrar of company.

1. Memorandum: It is regarded as the fundamental document which defines the objective of thecompany. It is signed by seven persons in case of public company.

2. Articles of Association: It is an important document which contains rules and regulations for

internal management of company. It should be duly stamped and signed by the signatories of the

memorandum of Association.

A public limited company do not submit Articles of Association because it adopts Table-A of

companies Act. Table A is simply the name given to the prescribed format for Articles of

Association of a company limited by shares under the Companies Act 1985 and earlier

legislation. The Articles set out the regulations by which the company will be managed.

3. The name and address of the registered office of the company.

4. A statement of nominal capital of the company, when it exceeds Rs. 5 lac, a certificate from

the central government permitting such issue is submitted.

5. A list of proposed directors, their names and addresses and occupations.

6. The contract with managing director, secretaries and the treasurers.

7. A statutory declaration by an advocate with regard to compliance of legal requirements of

company Act.

The above document with necessary fees, stamp duty and registration fee is submitted with the

registrar. If the registrar is satisfied, he may issue one certificate called certificate of companies

can start their business. However, public limited company can start their business after issuing of

prospectus or statement in lieu of prospectus. On receipt of prospectus, another certificate called

certificate of commencement is issued.


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THE COMPANIES ORDINANCE, 1984

(COMPANY LIMITED BY SHARES)

Memorandum of Association

Of

CHICK QUEEN FAST FOOD (PUBLIC) LIMITED

I. The name of the Company is Chick Queen fast food (public) Limited.

II. The Registered Office of the Company will be situated in Islamabad.

III. The objects for which the Company is established are all or any of the following:

1. To carry on the business of buyers, sellers, traders, importers, exporters, manufacturers,

processors, commission agents, distributors, dealers and representatives in any legal form for allkinds of food and beverages including but not limited to fruits, vegetables, confectionery, infant

nutrition, clinical nutrition, performance nutrition, cereals, coffee, tea, wheat, flour, food grains,

pulses, cereals, rice, spices, sugar, sugar products, vegetable ghee, edible oil, cooking oil,

mineral oil, cocoa based and other food products.

2. To acquire, process, package, sell, import, export, preserve, deep freeze and otherwise

deal in aerated, mineral and artificial waters and all kinds of beverages, non alcoholic drinks,

syrups, juices, soft drinks, squashes, jams, murabbas, milk and all types of dairy products, ice

cream, meat, live cattle and sheep, fish, prawns, shrimps, poultry, eggs and in all branches of

such respective trades or business.

3. To establish an industrial unit for manufacturing of food and beverages and to do all such

things as are incidental or conducive to the attainment of the object of the establishment and

operation of such industrial unit.

4. To carry on the business of milling of grains by taking on lease, hiring, purchasing,

erecting, or otherwise acquiring rice mills, husking mills, grinding mills, cleaning, grading,

polishing of all kinds of pulses, rice, spices, and other food grains and cereals in any or all itsbranches as would be required for effective discharge of these objects.

5. And for the purposes of achieving the above objects, the company is authorized:-

(1) To transact such other business as may be proper, necessary and desirable for orin connection with the objects of the Company or any of them.


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assist any such person or company, and to take or otherwise acquire shares and

securities of any such company, and to sell, hold, re-issue with or without

guarantee, or otherwise deal with the same, except doing business as an

investment company.

(9) To take, or otherwise acquire, and hold shares in any other company, havingobjects altogether or in part similar to those of this Company, or carrying on any

business capable of being conducted so as directly or indirectly to benefit this

Company, but not to act as an investment company.

(10) To enter into arrangement with any Government or authorities, supreme, national,municipal, local, railway, or otherwise, public or quasi-public bodies, or with any

other persons, in any place where the Company may have interest that may seem

conducive to the objects of the Company or any of them and to obtain from anysuch Government, authorities or persons any rights, privileges and concessions

which the Company may think fit to obtain, and to carry out, exercise and comply

with any such arrangements, rights, privileges and concessions.

(11) To establish and support or aid in the establishment and support of associations,institutions, funds, and conveniences calculated to benefit employees of the

Company or the dependants or connections of such persons, and to grant pensions

and allowances, and to make payments towards their insurance.

(12) To amalgamate with any other company whose objects are and/or include objectssimilar to those of this Company, whether by sale or purchase (for fully or partly

paid-up shares or otherwise) of the undertakings, subject to the liabilities of this or

any such other company as aforesaid, with or without winding up or by sale or

purchase (for fully or partly paid-up shares or otherwise) of all or a controlling

interest in the shares or stock of this or any such other company as aforesaid, or

by partnership, or any arrangement of the nature of partnership, or in any other

manner.

(13) To sell or dispose of the undertaking of the Company or any part thereof for suchconsideration as the Company may think fit and, in particular, for shares,

debentures or securities of any other company having objects altogether or in part

similar to those of this Company.


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(14) To purchase, take on lease or in exchange, hire or otherwise acquire, any movableor immovable property, and any rights or privileges which the Company may

think necessary or convenient for the purpose of its business and, in particular,

any land, buildings, easement, machinery, plant and stock-in-trade.

(15) To construct, maintain and alter any buildings or works, necessary or convenientfor the purposes of the Company.

(16) To construct, improve, maintain, develop, work, manage, carry out, or control anymanufactories, warehouses, shops, stores, and other works and conveniences

which may seem calculated directly or indirectly to advance the Companys

interests.

(17) To sell, improve, manage, develop, exchange, lease, mortgage, enfranchise,dispose of, turn to account, or otherwise deal with, all or any parts of the property

and rights of the Company.

(18) To invest and deal with the money of the Company, not immediately required, insuch manner as may from time to time be determined, but not to act as an

investment, finance, or banking company.

(19) To advance money to such persons or companies and on such terms as may seemexpedient and, in particular, to customers and others having dealings with the

Company, but not to act as an investment, finance, or banking Company.

(20) To borrow or raise funds by means of loans or secure the payment of money fromshareholders, directors, commercial banks and government approved agencies in

such manner as the Company shall think fit for its manufacturing, trading and

allied business and, in particular, by the issue of debentures or debenture-stock,

perpetual or otherwise, charged upon all or any of the Companys property and

other assets, both present and future, including its uncalled capital, and to

purchase, redeem, or pay any such securities, but not to act as an investment,

finance, or banking company.

(21) To guarantee the performance of contracts, agreements, obligations or dischargeof any debt of the company or on behalf of any company or person in relation to


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the payment of any financial facility including but not limited to loan, advance,

letter of credit or other obligations through creation of all types of mortgages,

charges, pledges, hypothecation, on execution of the usual banking

documents/instruments or otherwise encumbrance on any or all of the movable

and immovable properties of the company, either present or future or both and

issuance of any other securities or sureties by any other means in favour of banks,

Non-Banking Finance Companies or any financial institutions and to borrow

money for purposes of the company on such terms and conditions as may be

considered proper.

(22) To open, close and operate banking accounts of the Company with any banker.

(23) To draw, make, accept, endorse, discount, execute and issue promissory notes,bills of exchange, bills of lading, warrants, debentures and other negotiable ortransferable instruments, but not to act as an investment or banking company.

(24) To adopt such means of making known the products of the Company as may seemexpedient, including, in particular, by advertisement in the press, circulars,

purchase and exhibition of works of art or interests, publication of books and

periodicals, and grant of prizes, rewards and donations.

(25)

To subscribe or contribute or otherwise to assist or to guarantee money tocharitable, benevolent, religious, scientific, technical, national, public, or any

other institutions, for its objects or purposes or for any exhibition.

(26) To apply for and obtain any provisional order or Act of legislature or anyconsents, permissions and licenses from the Government, central or provincial,

and any agencies of the Government for enabling the Company to carry on any of

its objects into effect, or for effecting any modification of the Companys

constitution, or for any other purpose which may seem expedient, and to oppose

any proceeding or application which may seem calculated, directly or indirectly,to prejudice the Companys interests.

(27) To sell any patent rights or privileges belonging to the Company or which may beacquired by it, or any interest in the same, and to grant licenses for the use and

practice of the same or any of them and to let or allow to be used or otherwise

deal with any inventions, patents or privileges in which the Company may be


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interested, and to do all such acts and things as may be deemed expedient for

turning to account any inventions, patents and privileges in which the Company

may be interested.

(28) To extend money on experimenting upon and testing and improving or securingany process or processes patent, or protecting any invention or inventions which

the Company may acquire or propose to acquire or deal with.

(29) To distribute among the members of the Company, in kind or otherwise, anyproperty of the Company and, in particular, any shares, debentures or securities of

other companies belonging to this Company, or of which this Company may have

the power of disposing.

(30) To create any reserve fund, sinking fund, insurance fund or any other specialfund, whether for depreciation or for repairing, insuring, improving, extending or

maintaining any of the property of the Company or for any other purpose

conducive to the interests of the Company.

6. Notwithstanding any thing stated in any object clause the company shall obtain such

other approval or license from competent authority as may be required under any law for the

time being in force to undertake a particular business.

7. It is decaled that notwithstanding anything contained in the foregoing object clauses of

this Memorandum of Association nothing contained therein shall be construed as empowering

the Company to undertake or to indulge in business of banking company, leasing, and

investment, managing agency or insurance business directly or indirectly as restricted under the

law or any unlawful operation.

IV. The liability of the members is limited.

V. The Authorized Share Capital of the Company is Rs. 5,000,000/- divided into 500,000

ordinary shares of Rs. 10 each with the rights, privileges and conditions attached thereto,

with power to increase and reduce the capital of the Company and to divide the shares in

the capital for the time being into several classes and attach thereto respectively, subject

to the provisions of the Ordinance, such preferential, deferred, qualified, or special rights,

privileges or conditions and to vary, modify or abrogate any such rights, privileges, or

conditions in such manner as may for the time being be provided by the regulations of the

Company.


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We, the several persons whose names and addresses are subscribed, are desirous of beingformed into a company, in pursuance of this memorandum of association, and we respectivelyagree to take the number of shares in the capital of the company set opposite our respectivenames.

S

.

N

o

.

Name and

Surname

(present &

former) in

full (in

Block

Letters)

NIC No.

(in case of

foreigner,

Passport

No.)

Fathers/

Husbands

Name in full

Nationality(ies

) with any

former

Nationality

Occupati

on

Residentia

l address

in full

Number of

shares taken

by each

subscriber

Sign

ature

s

1 AB 12354-

1456877-1

Gh Pakistani Trading

business

Street ---,

No. ----,

Sadaf

colony,

Islamabad

100 ------

2 CD 25814-

1456879-2

IJ Pakistani Import

and

export of

sportsgoods

Street ----,

No.-----,

Pak

Nagar,Akram

Road,

Lahore

300 ------

3 EF 62584-

1548795-3

KL Pakistani Advocate Street-----,

No. -----,

Queens

Road,

Karachi.

500 ------

4 GH 35478-

2549053-7

MN Pakistani manufact

urer

Street ---,

No. ----,

Peoples

50 ------


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colony,

Islamabad

5 IJ 40921-

5789034-1

OP Pakistani Mill

owner

Street ----,

No.-----, ,

Liaqat

abad

Road,

Lahore

1000 ------

---

6 KL 17632-

9054723-9

QR Pakistani bottique Street-----

,No. -----,

ghori

Road,

Karachi

700 ------

7 MN 23815-

7216759-4

ST Pakistani Street ---,

No. ----,

lallazar

colony,

Islamabad

200 ------

Total number of shares taken: 2850

Dated: the 11th day ofJanuary 2010Witness to above signatures.______________SignaturesFull Name, _________NIC Number,_________Fathers/Husbands Name ________Full Address_______________Occupation____________________


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THE COMPANIES ORDINANCE, 1984

(Public Company Limited by Shares)

ARTICLES OF ASSOCIATION

OF

CHICK QUEEN FAST FOOD (PUBLIC) LIMITED

1. The Regulations contained in Table A to the First Schedule to the Companies

Ordinance, 1984 (the Ordinance) shall be the regulations of Chick Queen fast food company

(the Company) so far as these are applicable to a public limited company.

PUBLIC LIMITED COMPANY

2. The Company is a Public Company within the meaning of Section 2(1)(28) of theOrdinance and accordingly:

(1) An invitation shall be made to the public to subscribe for the shares or debenturesof the Company.

(2) The number of the members of the Company (exclusive of persons in theemployment of the Company), shall not be limited to any number, two or more

persons hold one or more shares in the company jointly, they shall be treated as

single member; and

(3) The right to transfer shares of the Company is not restricted in the manner and tothe extent herein appearing.

(4) Company will enjoy 30 years of its business. In case members are willing tocontinue the business ,however, it is supposed to carry on its business for the

indefinite period of time.

TRANSFER OF SHARES

3. A member desirous to transfer any of his shares shall first offer such shares for sale or

gift to the existing members and in case of their refusal to accept the offer, such shares may be

transferred to any other person, as proposed by the transferor member, with the approval of the

Board of Directors.


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DIRECTORS

4. The number of directors shall not be less than seven or a higher number as fixed under

the provisions of Section 178 of the Ordinance. The following persons shall be the first directors

of the Company and shall hold the office upto the date of First Annual General Meeting:

1. ..2. ..3. ...............4. 5. 6. 7.

Total number of shares taken by the share holders: 2850

Dated: the 11th

day ofJanuary 2010Witness to above signatures.______________Signatures:Full Name, _________NIC Number,_________Fathers/Husbands Name ________Full Address_______________Occupation____________________


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PROPOSED PRODUCT MIX

The proposed project is assumed to provide customers with a variety of fast food items as

outlined in the following menu:

Broast Price Chinese PriceChicken Broast (Qtr.) 65 Hot & Sour Soup (2 Servings) 75Chicken Broast (Half) 125 Hot & Sour Soup (4 Servings) 140Chicken Broast (Full) 250 Chicken Corn Soup (2 Servings) 75

Chicken Corn Soup (4 Servings) 140Burgers Price Plain Rice 40Chicken Burger 80 Chicken Fried Rice 80Chicken Cheese Burger 75 Vegetable Fried Rice 60Beef Burger 90 Egg Fried Rice 70

Beef Cheese Burger 75 Beef Fried Rice 80Zinger Burger 190 Beef Chilli (w/o rice) 75Chicken Chilli (w/o rice) 85

Sandwiches Price PriceChicken Sandwich 55 French Fries (per plate) 25Egg Sandwich 40 Cole Slaw 15Beef Sandwich 45 Soft Drinks (Large) 80Club Sandwich 80 Soft Drinks (Regular) 20

Based on the above, our restaurant also offers low cost combo meals to its customers forincreased value. Following are the proposed combo deals that can be further modified to meetincreasing demand:

Combos Items PriceCombo Deal 1 Zinger Burger / French Fries / Regular Drink 105Combo Deal 2 Chicken Broast (Qtr.) / French Fries / Regular Drink 90Combo Deal 3 Chicken Burger, Broast (Qtr.), French Fries, Regular Drink 135Combo Deal 4 Club Sandwich / French Fries / Regular Drink 105

Family Deal 1 Full Broast / Zinger Burger / Club Sandwich /French Fries (4) / Large Drink 535

Family Deal 2 Zinger Burger (2) / Club Sandwich (2) /Broast (Half) / Large Drink / Fries (2) 515

Jumbo Deal 5% discount on purchase above Rs. 1,000/-

It desirable to have a vast variety of food items to capture a larger target audience. Once therestaurant achieves a steady sales pattern further food items like Barbeque will be added andsimilarly for desserts ice cream would be the best potential.


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PROJECT INVESTMENT

Item Cost (Rs.)

Dining & Office Furniture 542,250Advance Rent 1,200,000

Construction Cost (all inclusive) 1,307,000

Equipment & Machinery 967,000

Preliminary Expenses 50,000

Total 5,102,250

HUMAN RESOURCE REQUIREMENT

Our initial employees will include one manager, two cooks and two bus boys per location, withone of each on the premises during open hours. This is considered an ideal personnel number for

a food outlet the size of our own. Each employee will work for 38-40 hours per week. In the long

run, as we expand our product category and retail outlets, we will employ more people in the

middle management to ensure the focus of our work, including site managers.The human

resource requirement for the general and management staff are as follows:

Designation / Type Number Monthly Salary

(Rs.)

Total Salary

(Rs.)

Manager 01 25,000 300,000

Cook 02 10,000 120,000

Server 01 12,000 144,000

Busboy 02 4,000 48,000

Dishwasher, cleaner 01 6,000 72,000

Guard 01 10,000 120,000

TOTAL 08 67,000 804,000

COMPANY LOCATIONS AND FACILITIES

Chick Queen locations will range in size from 50 70 meter square and will seat from 15 25

guests. We equiped the outlet with modern furniture and aim for cleanliness and an open feeling.

The space selection is based upon the following criteria:


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Community size: minimum of 800,000 people within a radius of 8 kilometers. Tourist destination. Easy access. Large percentage of teenagers in the community.

All of these qualities are consistent with goal ofChick Queens providing a top quality fast food

experience. We want "word-of-mouth" to be our best form of marketing, where our customers

value our brand as something exciting and cannot wait to tell their friends and neighbours.

MARKET SEGMENTATION

The customers in the restaurant industry in Islamabad can be classified into following segments:

Exotic: This segment consists of top executives and business people who can afford tospend Rs. 1000/- or more per meal. They eat in small groups, mostly to entertain peers

from social networks, and clients. Excellent quality and taste in an exquisite environment

is required. Personalized service is important for this segment.

Executives & professionals: This segment includes top and senior executives andbusiness people who spend Rs. 500/- to Rs. 800/- per meal. They eat in groups,

socializing with peers from professional networks. The variety in menu offered, taste,

environment and the service level is important to this segment.

Quick and convenient: This segment represents the population that spends Rs. 300/- toRs. 500/- per meal. They have quick working-lunches in groups. They prefer quickserved meals at affordable quality and taste. The environment, freshness of food and the

service level is important to them too.

Bargainers: This segment consists of a population that affords to spend Rs.100/- to Rs.200/- per meal. They are price conscious consumers who are less keen on service quality

and environment. This group may also include students, office workers and white collar

professional. Local taste and local food-meal is of primary importance to this segment.

TARGET MARKET

We are targeting youngsters as our primary market. It is the place to meet and hang outwith friends. Due to heavy extra-curricular activities among Pakistani's youth, it is

common for them to have lunch inside shopping malls, and not at home. They tend to

flock to fast food joints at shopping malls across Jinnah Super Market.


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Our secondary market segment is the "Working people." With so many shopping malls inthe vicinity, Jinnah Super is the heaven for shoppers and job seekers alike. In the market

Centre, there are more than 8,000 workers currently working as sales persons and

boutique staff.

Lastly, it is also the destination for tourists staying in the area. Tourists will stroll thisRoad, hunting for the latest trend in fashion and have no time to stop for a full meal

during shopping. Chick Queen is the alternative for a quick bite while shopping the fancy

boutiques in the area.

MARKETING STRATEGY

Our strategy is based on serving our markets well. We will start our first outlet as a "market

tester" that could become a model of the expanding number of outlets in the future.

Concentration will be on maintaining quality and establishing a strong identity in the local

market.

A combination of local media and local store marketing programs will be utilized at each

location. Local store marketing is most effective, followed by print ad. As soon as a

concentration of stores is established in a market, then broader media will be explored. We

believe, however, that the best form of advertising is still "buzz." By providing a fun and

energetic environment, with unbeatable quality at an acceptable price in a clean and friendly

outlet, we will be the talk of the town. Therefore, the execution of our concept is the most critical

element of our plan. We will actively build our brand, through the selling of supportingmaterials, such as merchandise, promotional items and other marketing gimmicks similar to

those of other fast food franchises.

MARKETING PROGRAMS

We will deploy different marketing tactics to increase customer awareness ofChick Queen.

Our most important tactic will be "word-of-mouth". This will be by far the cheapest andmost effective of our marketing programs because of the high traffic in targeted shopping

locations. The second marketing effort will be utilizing local media. Although, this will be the most

costly, this tactic will be used sparingly as a supplement where necessary.

Other promotional tactics used are:


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o Wall posters.o Direct mail piececontaining brochures sent to surrounding addresses.o Web pagecontaining company philosophy, history and news.o Local magazines that target our core customers, such as Free! Magazine.o Newspaper campaignplacing several large ads throughout the month to explain

our concept to the local area.

POSITIONING STATEMENT

Our main focus in marketing will be to increase customer awareness in the surrounding

community. We will direct all of our tactics and programs toward the goal of explaining who we

are and what we are all about. We will price our products fairly, keep our standards high, and

execute the concept so that word-of-mouth will be our main marketing force.

STRATEGY AND IMPLEMENTATION SUMMARY

At first, we will open one outlet in Jinnah super Market. This will become our "market testing

area," and as we go further, Chick Queen is planning to open another in nearby shopping malls.

In attracting customers to try our restaurant, we will provide a see-through kitchen, so that

people will see how we are committed to freshness in our products.

The kitchen will also let out an aroma of our freshly fried foods into the surroundings area, so

that people will come and try our products.

STRATEGIC ALLIANCES

Our business requires a long relationship with raw suppliers as well as partner vendors. We have

a long and good standing relationship with local beef and vegetables suppliers. For chicken,

KNN is the best option. Contracts are made with local bakeries and flour mills.

COMPETITORS

Hardees Islamabad: At Street 20, F7-2 Markaz, Specialized in Breakfast, Burgers,Chicken Products, Desserts & Beverages.

McDonalds: Located at Fatima Jinnah Park F-9, Specialized in Burgers, Sandwiches,Chicken & Beef products, Desserts & Drinks

Subway Islamabad: Blue Area, Jinnah Avenue, Islamabad. Best forBreakfast, sandwiches & Drinks.
http://www.groupin.pk/blog/hardees-islamabad-review-based-on-pricing-menu-location-services/http://www.groupin.pk/blog/hardees-islamabad-review-based-on-pricing-menu-location-services/http://www.groupin.pk/blog/subway-restaurant-in-islamabad-are-you-ready-for-great-discounts/http://www.groupin.pk/blog/subway-restaurant-in-islamabad-are-you-ready-for-great-discounts/http://www.groupin.pk/blog/hardees-islamabad-review-based-on-pricing-menu-location-services/


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Kentucky Fried Chicken (KFC): Building, F-6/2, Super Market, Specialized inBurgers, Nuggets, Rice, Chicken meals & Drinks

Pizza Party: 11, Street 41, F-6/1, Huge Verity of pizzas and Beverages Cock n Bull Islamabad: F-7, Markaz, Jinnah Super. Best and inexpensive Fast food

corner offering huge verity of burgers, shakes, drinks, steaks and much more.

Italian Pizza Islamabad: Shop No, 09-A, Block 12-E, First Floor, F-7 Markaz. HugeVerity of Italian food including Pizzas, burgers, snacks & Bevrages

PRICING STRATEGY

Our pricing strategy is positioned as market penetration strategy. By keeping our prices low as

compared to our competitors with a promise of providing high quality service, we will be able to

penetrate in the market very successfully.

REVENUE & COST PROJECTIONS

The Sales are expected to increase by 15% every year while the cost of raw materials is assumed

to increase by 10%. The 15% annual increase in revenue is expected to result from a part

increase in population increase and part increase in product price. The prices used to calculate

the gross revenue earned are based on the billing rate at which the entrepreneur will charge the

customer. The prices are also inclusive of the General Sales Tax.

Furthermore it is assumed that the following sales breakup will form the revenue streams

for the fast food outlet:

Revenue Stream % of Total SalesDine in 20%

Take away 60%

Home delivery 20%

Total revenue 100%

The minimum delivery order size is assumed to be Rs. 250/- per order with 3 delivery riders

being employed at the charge out rate of Rs. 25 per delivery order wherein no transportation fuel

is provided by the fast food outlet. For Take Away and Home Delivery another 1% of sales

added cost due to packing is assumed.

ACCOUNT RECEIVABLES

All sales will be made strictly on cash basis. It is not advisable to operate a fast food restaurant

on credit basis.
http://www.groupin.pk/blog/kfc-islamabad-zinger-burger-deal-coming-soon-on-groupin/http://www.groupin.pk/blog/italian-pizza-islamabad-avail-55-off-on-party-size-pizza-%e2%80%93-special-ramazan-deal-in-just-rs-535/http://www.groupin.pk/blog/italian-pizza-islamabad-avail-55-off-on-party-size-pizza-%e2%80%93-special-ramazan-deal-in-just-rs-535/http://www.groupin.pk/blog/italian-pizza-islamabad-avail-55-off-on-party-size-pizza-%e2%80%93-special-ramazan-deal-in-just-rs-535/http://www.groupin.pk/blog/kfc-islamabad-zinger-burger-deal-coming-soon-on-groupin/


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MISCELLANEOUS OUTLET EXPENSES

A monthly figure of Rs. 6,000 (200 per day) is assumed to be incurred for miscellaneous

expenses which are expected to increase at the rate of 10% per annum for the projected period.

DEBT: EQUITY

75% : 25%

WINDING UP

As regards the company itself winding up does not mean that the company has ceased to exist.

The company exists as a corporate entity with all the rights of such entity, with only change that

its management and administration is to be carried on through liquidator / liquidators till the

final dissolution of the company.

VOLUNTARY WINDING UP OF MEMBERS OF THE COMPANY

A company can be wound up voluntary:

(a) on expiration of the period fixed for the duration of the company by its Articles of

Association or on occurrence of event leading to dissolution of the company as provided in the

Memorandum and Articles of Association and company has to pass a special resolution in

general meeting for its wound up voluntarily within five weeks of filing of declaration of

solvency, and

(b) on passing of the special resolution that the company be wound up voluntarily. A voluntary

winding up is deemed to commence at the time of passing of the resolution for voluntarywinding up. The company ceases to carry out business just on commencement of winding up.

However, it can carry on its activities and business for beneficial winding up of the company.

PROCEDURE FOR VOLUNTARY WINDING UP

The following steps are to be taken for Members voluntary winding up under the Provisions of

the Ordinance, and the Companies Rules.

Step 1: Where it is proposed to wind up a company voluntarily, its directors make adeclaration of solvency on Form 107 prescribed under Rule 269 of the Rules duly

supported by an auditors report and make a decision in their meeting that the proposal to

this effect may be submitted to the shareholders. They, then, call a general meeting

(Annual or Extra Ordinary) of the members (Section 362 of the Ordinance)


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Step 2: The company, on the recommendations of directors, decides that the company bewound up voluntarily and passes a Special Resolution, in general meeting (Annual or

Extra Ordinary) appoints a liquidator and fixes his remuneration. On the appointment of

liquidator, the Board of directors ceases to exist. (Sections 358 and 364 of the

Ordinance)

Step 3: Notice of resolution shall be notified in official Gazette within 10 days and alsopublished in the newspapers simultaneously. A copy of it is to be filed with registrar also.

(Section 361 of the Ordinance)

Step 4: Notice of appointment or change of liquidator is to be given to registrar by thecompany along with his consent within 10 days of the event.(Section 366 of the

Ordinance)

Step 5: Every liquidator shall, within fourteen days of his appointment, publish in theofficial Gazette, and deliver to the registrar for registration, a notice of his appointment

under section 389 of the Ordinance on Form 110 prescribed under Rule 271 of the Rules.

Step 6: If liquidator feels that full claims of the creditors cannot be met, he must call ameeting of creditors and place before them a statement of assets and liabilities. (Section

368 of the Ordinance)

Step 7: A return of convening the creditors meeting together with the notice of meetingetc. shall be filed by the liquidator with the registrar, within 10 days of the date of

meeting. (Section 368 of the Ordinance)

Step 8: If the winding up continues beyond one year, the liquidator should summon ageneral meeting at the end of each year and make an application to the Court seeking

extension of time. (Section 387(5) of the Ordinance)

Step 9: A return of convening of each general meeting together with a copy of the notice,accounts statement and minutes of meeting should be filed with the registrar within 10

days of the date of meeting. (Section 369 of the Ordinance)

Step 10: As soon as affairs of the company are fully wound up, the liquidator shall makea report and account of winding up, call a final meeting of members, notice of convening

of final meeting on Form 111 prescribed under Rule 279 of the Rules before which the

report / accounts shall be placed. (Section 370 of the Ordinance)


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Step 11: A notice of such meeting shall be published in the Gazette and newspapers atleast10 days before the date of meeting. (Section 370 of the Ordinance).

Step 12: Within a week after the meeting, the liquidator shall send to the registrar a copyof the report and accounts on Form 112 prescribed under Rule 279 of the Rules. (Section

370 of the Ordinance)

DOCUMENTS REQUIRED FOR VOLUNTARILY WINDING UP BY MEMBERS

Special Resolution on Form-26 (prescribed under the Companies(General Provisions andForms) Rules, 1985 for voluntary winding up.

Declaration of Solvency on Form 107 under the Rules. Affidavit by Directors of the company including Chief Executive verifying the attached

auditors report, profit and loss account, balance sheet, statement of assets and liabilities

prepared from the date of closing of last accounts till the latest practicable date,

immediately before the making of declaration.

Consent of liquidator. A copy of Notice of resolution passed for winding up the company voluntarily and

published in the Official Gazette.

A copy of Notice for appointment of liquidator and published in the Official Gazette. A copy of Preliminary report prepared by the liquidator. Final report and accounts of the company prepared by liquidator presented in General

meeting of shareholders after finalization of winding up.. Notice of final meeting. Return containing final report and accounts alongwith minutes ofmeeting to be filed with

the concerned Company Registration Office.


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REFERENCES

http://www.bplans.com/fast_food_restaurant_business_plan/executive_summary_fc.php http://www.morebusiness.com/fast-food-restaurant-business-plan http://www.slideshare.net/babarzm/business-plan-of-fast-food-restaurant http://www.entrepreneur.com/article/73384 http://fastfoodmarketing.org/media/FastFoodFACTS_Report_Introduction.pdf http://www.ehow.com/how_5485804_start-new-business-pakistan.html http://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-

company-in-india.html

http://www.companieshouse.gov.uk/about/tableA/index.shtml http://www.bigals.co.za/downloads/prospectivefranchisee/Prospectus.pdf http://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-

fries-and-drinks-at-perfect-rates/

http://www.secp.gov.pk/SECGuideSeries/pdf/Guide_WindingUp.pdf

If you want to

be creative inyour

company,yourcareer, your

life,

all it takes is oneeasy step the

extra oneWhen you

encounter afamiliar plan,

you just askone question:

What ELSEcould we do? - Dale Dauten
http://www.bplans.com/fast_food_restaurant_business_plan/executive_summary_fc.phphttp://www.bplans.com/fast_food_restaurant_business_plan/executive_summary_fc.phphttp://www.morebusiness.com/fast-food-restaurant-business-planhttp://www.morebusiness.com/fast-food-restaurant-business-planhttp://www.slideshare.net/babarzm/business-plan-of-fast-food-restauranthttp://www.slideshare.net/babarzm/business-plan-of-fast-food-restauranthttp://www.entrepreneur.com/article/73384http://www.entrepreneur.com/article/73384http://fastfoodmarketing.org/media/FastFoodFACTS_Report_Introduction.pdfhttp://fastfoodmarketing.org/media/FastFoodFACTS_Report_Introduction.pdfhttp://www.ehow.com/how_5485804_start-new-business-pakistan.htmlhttp://www.ehow.com/how_5485804_start-new-business-pakistan.htmlhttp://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-company-in-india.htmlhttp://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-company-in-india.htmlhttp://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-company-in-india.htmlhttp://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-company-in-india.htmlhttp://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-company-in-india.htmlhttp://www.companieshouse.gov.uk/about/tableA/index.shtmlhttp://www.companieshouse.gov.uk/about/tableA/index.shtmlhttp://www.bigals.co.za/downloads/prospectivefranchisee/Prospectus.pdfhttp://www.bigals.co.za/downloads/prospectivefranchisee/Prospectus.pdfhttp://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-fries-and-drinks-at-perfect-rates/http://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-fries-and-drinks-at-perfect-rates/http://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-fries-and-drinks-at-perfect-rates/http://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-fries-and-drinks-at-perfect-rates/http://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-fries-and-drinks-at-perfect-rates/http://www.secp.gov.pk/SECGuideSeries/pdf/Guide_WindingUp.pdfhttp://www.secp.gov.pk/SECGuideSeries/pdf/Guide_WindingUp.pdfhttp://www.secp.gov.pk/SECGuideSeries/pdf/Guide_WindingUp.pdfhttp://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-fries-and-drinks-at-perfect-rates/http://www.groupin.pk/blog/fast-food-restaurants-in-islamabad-scrumptious-burgers-fries-and-drinks-at-perfect-rates/http://www.bigals.co.za/downloads/prospectivefranchisee/Prospectus.pdfhttp://www.companieshouse.gov.uk/about/tableA/index.shtmlhttp://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-company-in-india.htmlhttp://www.publishyourarticles.org/eng/articles/how-to-incorporate-a-private-limited-company-in-india.htmlhttp://www.ehow.com/how_5485804_start-new-business-pakistan.htmlhttp://fastfoodmarketing.org/media/FastFoodFACTS_Report_Introduction.pdfhttp://www.entrepreneur.com/article/73384http://www.slideshare.net/babarzm/business-plan-of-fast-food-restauranthttp://www.morebusiness.com/fast-food-restaurant-business-planhttp://www.bplans.com/fast_food_restaurant_business_plan/executive_summary_fc.php

Documents

Chick Queen Fast Foods