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Mr. Faisal Ikram, sole owner and founder of less than a decade launched Entrepreneurial Venture known as the name of “Rayyan’s”, a Fast Food Restaurants Chain (F-M-C-G’s), which has been recognized and acclaimed as “ Pioneers of Local Fried Chicken” in the Local Fast Food Industry of Pakistan .
He launched this risky venture in early 2003 with the strategy and vision to indirectly compete; Leap Frog & Side Step, with the emerging Industry Thumbs (Foreign MNC’s).
Pursuing indirect competition strategy and tactics, but still his business was one-on-all (One versus all Industry Thumbs and Competitors), within the prospective vicinity of Islamabad/Rawalpindi Region (Twin - Cities)
His place of birth is Rawalpindi ; bought up and raised up in Islamabad .
He is a Kashmiri by ethnicity.
He and his family’s has a basic belonging and origin from Karhian Wala (a village situated 10 – 15 minute drive besides Gujrat) .
His father is a retired professor by profession and worked as part of government sector.
There were no strains and traces of any kind of business or entrepreneurial mindset or profession in his whole family, as his whole family was mostly and abundantly engaged in serving Military and Government Sector .
First one (Pioneer and Avant-garde) of inducting, instilling and pursuing a business or entrepreneurial mindset or profession in his family.
After Graduation (B.A) he met and hooked up with his two closest friends of all Qasim and Ahmad .
Three of them came up with a new Business Idea and after formulating a Business Plan, they went on to launch the business with name of Korneez (AMK Enterprises), with core business focus on Instant and Snack Food.
Afterwards for pursuing academics and further studies the Business Panel (Two people were left as the Key Business Owner’s/Players Qasim and Ahmad).
On his arrival he again clutched up with one of his closest friend Ahmad in Lahore to launch a new business venture named as Tritorz. Business focus was on the same Industry; Instant and Snack Food , as of the Korneez .
Conducted the business successfully for t wo years time – span,
Both of them mutually came up with the decision to entirely shutdown/windup the business (Tritoroz) , because Both of them were looking forward to go for career transitions.
Mr. Ahmad moved on to pursue his job and especially Mr. Faisal Ikram move on to launch his own Entrepreneurial Venture.
Launched his own Business Plan in the form of an Entrepreneurial Venture with the name of “Rayyan’s” in 2001, in collaboration with “Haroon’s” - An sole proprietor company.
Haroon’s has grew from 1 shop to 6 shops only in time – span of 20 years and has became an fashion and style statement for the fashion and decoration conscious people
Start - Up
As an MBA Graduate he made a Business Plan which will conform to the modern business academics and modern age real – time, as well industry practices, feasibility and viability.
But still keeping in view all requirements and compatibility factors in his mind he came up, devised and documented a business plan, along with a start – up capital of 2.5 Million ( P-K-R 25,000,00/- 10 Years Ago ).
Start – Up Capital
Short of cash, short of staff (Employees), resources and threat of entry of Global Competitors were very High.
He contacted one his far away and so called Cousin Mr. Salman Nasir to facilitate him in his entrepreneurial venture. After briefing Mr. Nasir Malik (Uncle) and his son Mr. Salman Nasir (Cousin) , with his business idea and business plan .
Incorporated “Rayyan’s” under the roof of “Haroon’s”, which will act as an Independent Business Unit (Not Purely & Absolutely Independent)
Strategic Alliance & Partnership
Established in 1989, for nearly 20 years, Haroon's has helped people to connect with one another and has given voice to their feelings.
“ We're with you at holidays and at any-day, at your most important milestones and unexpected occasion, when you want to share a laugh and when you seek to offer comfort. Its trust we intend to keep”.
Mr. Nasir Malik (Uncle) and Mr. Salman (Cousin) served as motivational factor in form of family friend/cousin and as well as the overall “Haroon’s” .
Served as a catalyst for newly borne “Rayyan’s” in the form of access to (Preexisting Customer – Base of “Haroon’s” ), marketing strategy, business strategy formation, management of operations, execution of operations, resources (Employees (Staff), Infrastructure, suppliers and high – end technology) and financial muscle.
ENTREPRENUERIAL VENTURE DRIVING FACTORS, ELEMENTS AND CIRCUMSTANCES
Leap Frogging & Side Stepping. Executing indirect competitive strategy and tactics along with Benchmarking.
Identifying appropriate product gap.
Value Innovation .
Target Market as a Niche Market and Opted – In the Niching Business Strategy.
Positioning --- The Local Fried Chicken (Slogan).
One-on-all was simply backed by simply remaining vigilant (Wait and See Policy) , remaining at the backside and identifying the conforming product / opportunity gap before launching his entrepreneurial venture.
Unique Selling Proposition (U.S.P) and Competitive Edge --- tailoring his product line according to the culture, context and local taste, along with adaptability to the prospective Target Market.
Strategic alliance with “Haroon’s” , which always has served as source of “ Last hope in bad times” .
Utilization of Strategic Assets of “ Haroon’s”
Financial Capital .
Modern Technology (Equipment and Machinery).
Management Structure (Employees and Staff).
Franchises (Property, Land and Proximity).
Strategic Alliance / Partnership (“Haroon’s”).
Resources & Capital
Highly interactive, soft spoken, polite, friendly, extrovert and humble individual, which makes him an owner of highly charismatic, influential and attractive personality.
His friends, family and relatives have served as source of social institution for him to groom up his personality.
These traits make him a very interactive and owner of a strong social capital.
Strong communication, networking and interactive skills. And Extreme modesty, courtesy, constructive thinking and a person who has strong faith and belief in equity and equality.
“ RAYYAN’S” there is Flattened Management Structure / Hierarchy there is
“ No boss and employee concept”.
People Skill & Social Capital
Korneez and Tritoroz in ( strategy development, planning, operations and execution of the Business) .
Management sense of optimization and a sense of tracking, correlating activities/functions and making concrete/valuable judgments and decisions.
As an entrepreneur has a huge mental library and knowledge/information bank , which has been developed through different stages from Business Idea Generation to Business Model Development, Core Business Strategy Development, Business Plan Development --- “RAYYAN’S”.
Forward and inward thinking is reshaping and reconfiguring his business plan which includes business model and core business strategy accordingly in – sync to shifting industry trends.
Application can be easily understand and trickled into brains by going through his own Personal And “Rayyan’s” Business Vision , which is as followed:
“ Neat, clean and clear intention, along with Qualitative, Quantitative and Economic Sense of Business”
Education & Implementation
Innovative/Creativity --- High
Risk Taking/Acting Under Uncertainty --- High
Proactive/Visionary --- Medium
Competitively Aggressive --- Medium
Autonomous/Self – Drive --- High
Aggregator --- Low
Entrepreneurial Mind Set
EXHIBIT 1: AREA MAP OF ISLAMABAD/RAWALPINI REGION
Continued Islamabad Area - Capital City 120.00 km2 (46.3 sq mi) - Specified area 3,626.00 km2 (1,400 sq mi) - Rural area 466.00 km2 (179.9 sq mi) Highest elevation 1,604 m (5,263 ft) Lowest elevation 457 m (1,499 ft) Population (2011) - Capital City 1,330,000 - Density 880/km2 (2,279.2/sq mi) Rawalpindi Elevation 500 m (1,640 ft)) Population (2008) - Urban 3,252,123
Address/Location: Shop # 33, Al Babar Center, F-8 Markaz, Islamabad.