Please view explanation and answer below.Entrepreneurship and Small BusinessASSIGNMENT -1Start-up Business PlanImagine you started a new business as an entrepreneur in Saudi Arabia.1. Owners, capital structure and company profileAs an entrepreneur in Saudi Arabia, the most appropriate business I would start is arestaurant business in one of the busy towns. The business name will be ‘Tahmeed Fast Foods’.Tahmeed is a name of Arabic origin meaning ‘goodwill’ or ‘recitation of goodwill’. Its addresswill be along Highway 40 close to Jeddah City. The email address [email protected] for a start but it will be changed once the business develops awebsite and acquires a domain name.Its legal structure will be a partnership between two principals; myself and my businesspartner (Uskova & Kozhevnikov, 2014). This structure is the most appropriate because it is thesimplest form of ownership for two or more individuals wishing to start a business. Also, thebusiness is considered separate from the owners hence the affairs of the business cannot bemixed with those of the business owners (Uskova & Kozhevnikov, 2014). The formal nature ofa partnership is also professional especially in the case of limited liability partnership whereeach partner is protected from the debts of the business. Additionally, partners are protectedfrom the actions of other partners. In such a case, both partners in this restaurant business willbe obligated to always act in the best interest of the business.On top of the individual contribution by each individual partner, the business willacquire debt capital from a bank or any other lender which should be paid back within 2 yearsonce the business is in operation. Profits will be shared as per the individual contributions oncethe debt capital has been settled and the business is completely out of debt. As the businessgrows and opens new branches, we will issue bonds and further accommodate franchises foreasier growth and more revenue. The first years of operation will be focused on building a goodbrand name to facilitate easier and faster growth over the years.2. Company Business DescriptionA. Scope and type of businessI will be in the food and beverage business. Given the busy nature of Highway 40, it isguaranteed that there will be human traffic to be attracted to the restaurant especially duringmeal times. The food business has been selected because it is a basic need and for peopleworking in Jeddah City, this is an answer to their problem as they will have one more option ofrestaurants to sample from. We will offer food on the go, which is basically fast food and drinksfor people who are busy in the city and are either willing to have take away meals or have theirmeals at the restaurant facility. The targeted market segment is the working class people in thecity who leave their offices and other workplaces at specific times to have their meals. Deliveryservices will also be offered where meals will be dropped off at their locations at a fee as theysave more time.The big idea is to focus on office and home delivery services of delicious fast food atan affordable fee. After realizing that most eateries in J…
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