Executive summary
Sharp Teen Center will provide teens with an opportunity for recreation, where they will meet, integrate and enjoy recreational facilities.
The cultural diversity in the city provides an advantage for teens to learn from different cultural backgrounds, especially in terms of music, drama, arts, beauty contests and other kinds of services.
Sharp Teen Center will operate as a teen club, with new members meeting some registration expenses and criteria set by the management.
Mission statement
To provide the teens in the greater Dubai area with exciting, fun, entertaining and educative facility, which will help them learn from cultural diversity and develop appreciation of the culture in Dubai.
Company summary
Ownership
Dick Marcus is a psychologist and researcher in human psychology at the University of Abu Dhabi. He is an Australian citizen who relocated to the UAE to take up teaching at the university. He brings in advanced knowledge in teen psychology, which will promote the services to be provided at the center.
Ali Hassan is a leading entrepreneur in Dubai other than being a child psychologist. He has been working as a psychiatrist for the last nine years, from which he obtained knowledge in the potentials of the Dubai tees and the social and psychological problems they face.
Customer summary
In Dubai, young people between the age of 11 and 19 make up at least 18% of the total population.
Majority of these are foreigners or children born to immigrants, mainly from Asia, Europe and the Far East. This means that cultural diversity is relatively high.
In addition, the majority are students in high schools and early years in the university, which means that they can find time to join the club during their holidays, weekends and evenings after school.
The company will therefore target this group as the potential customers.
Market opportunity
The city’s population is approximately 1.4 million people, with the majority of adult population being workers and business people.
The company will take the advantage of this situation in order to attract these parents and convince them to seek club membership for their children
Secondly, the population of young people is rising with the rise in the general population in the city. The overall population growth rate is estimated at 3%.
This indicates that the population of the young people will rise significantly in the next few years. In addition, it provides an opportunity for the Sharp Teens Center to expand its services and programs to accommodate more members and increase profitability.
Local context
Sharp Teens Center will base its services on the cultural aspects of the Dubai community. First, Islamic culture will be the main factor determining the kind of services to be provided and the target group. In this case, music, dance, arts, video, girls’ center, games and sport services must conform to the Islamic laws and regulations.
Secondly, the type of music, dance and sporting programs offered at the club will be based on the cultural diversity in the city. It will include the preferences of all the groups, including the Asians, westerners, Africans and the local communities.
Innovation
To improve its competitiveness, Sharp Teens Center will identify the state of an art business setting, with modern music, arts, sporting and game facilities, employees and teachers to ensure that it beats off the potential competitors with innovativeness.
Specifically, there are few organizations providing recreational opportunities to these groups of teens, which mean that our innovativeness will attract parents to bring their physically and mentally challenged children to the club.
Financial issues
Dubai is the most expensive city in the UAE and the 20th most expensive urban area in the world. This phenomenon means that the company must gather enough capital to provide the facilities in the club.
Secondly, it will affect the pricing strategy because customers must meet the expenses and the company must achieve its level of profitability.
Financial Issues
Thirdly, there is a price competition with companies providing similar services. Although there is no company of this type, hotels, children centers and other organizations provide some services similar to some that will be provided at Sharp Teens Center.
They offer competitive prices, which calls for a pilot study to determine the best pricing strategy to be employed at the club.