Assignment Task
Moawia had five days to decide. Should he open a fruit juice business in the Al Ain Mall or continue as the operating manager at the Al Qatara bowling alley in the Al Ain Club? He had been very successful running big bowling tournaments attended by people from all over the Gulf region and had saved enough money to start his own business. Was this the right one?
BACKGROUND
Al Ain was a town of 300,000 people in the centre of the Abu Dhabi Emirate, the largest and richest of the seven emirates that are collectively known as the United Arab Emirates (UAE). The United Arab Emirates University was in Al Ain, with a student enrolment of 13,000 UAE nationals. The total population of Al Ain was comprised of 40 per cent UAE nationals and 60 per cent expatriates. Before 2002, there were no malls in the city and people would have to travel to Dubai to shop. It was March of 2002 and the Al Ain Mall management planned to open the mall soon and was accepting business proposals for the food court to be built on the second floor.
Moawia Abdulla El Hourani had been trained in Poland and Germany in optometry. He had planned to eventually open his own optical store selling prescription glasses in Al Ain when he arrived in 1995 at the age of 29. However, by 2002 there were a number of optical stores operating in Al Ain and three more were planned to open in the new Al Ain Mall.
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Moawia had first presented to mall management his plan to open a food service business. The mall management would only consider plans for food services from people or organizations that had restaurant experience. Moawia had none. He thought of opening a fresh fruit juice operation because he had enjoyed making a variety of fruit drinks at home for both family and friends and he felt that perhaps mall management would not require the owner to have restaurant experience for a juice stand. He proposed to offer customers freshly squeezed fruit juices mixed with homemade soft ice cream. The mall management accepted his business proposal. Moawai gathered the financial data required to open the store and now had five days to accept the mall’s offer to lease the space.
LEASE AGREEMENT
The Al Ain Mall, like all retail malls, charged rent to businesses depending on the number of square meters the business occupied. Mall tenants paid anywhere from DH2,000 to DH4,000 per square meter per year.
The rate depended upon how well-known and how big the company was. Megamart and the Home Center paid at the lower end of the scale, 2,000, whereas small independent stores paid closer to 4,000. Sombrero would have to pay DH60,000 per year to lease the space (3 dirham=Cdn$1 and 100 fils=1 dirham).
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