| Current Status | Concept / Business Plan |
| Amount Invested | RM25,000 |
| Funding Required | RM4,000,001 to RM5,000,000 |
| Description |
FANA Gelato (FANA) is a gelato and sorbet manufacturing company that delivers a new Gelato experience to Singapore. FANA Gelato originated from the commitment of two partners, Farah and Nadia, to produce artisanal gelato in the Italian tradition and then expose the Singapore market place
to their Gelato creations. FANA Gelato replicates the Italian tradition of fresh, all-natural gelato made from the highest quality ingredients. With multiple recipes created in the centuries-old tradition of making gelato, FANA delivers elaborate and modern flavors that allow our customers to take comfort in the traditional and find excitement in the unexpected. We will sell gelato in bulk, novelty flavors, gluten free gelato, low glycemic index gelato, and flavored sorbet. Our gelato and sorbet will be prepared in-house daily in small batches. We will sell gelato in bulk, novelty flavors, gluten free gelato, low-fat and low glycemic index gelato, and flavored sorbet. Our gelato and sorbet will be prepared in-house daily. By using the finest organic and innovative ingredients and offering innovative flavors, FANA is expected to become a revered product and one that will experience strong demand – both locally in Singapore, and regionally in other Southeast Asian markets. |
| Business Opportunity |
In both the U.S. and Europe, gelato manufacturing is an established mature business where it continues to expand.
In Asia, gelato it is in its nascent stage, with ample room to grow and evolve with new Asian-influenced flavors. In Singapore, approximately 50 percent of the gelato comes from global companies shipped from across the world, giving independent gelato makers like FANA the perfect opportunity to introduce freshly made high-quality gelato to consumers. The gelato market penetration in Singapore is 5% of a billion dollar industry with an expected annual growth rate of 32.3%. FANA Gelato is poised to enter the Singapore Gelato market in the development & growth phase, giving us the opportunity to evolve into a top gelato brands. We have an edge over our competitors because we will be market leaders in aggressively penetrating the wholesale markets in Singapore & Malaysia |
| Revenue / Business Model |
FANA Gelato will generate revenue from two primary sources:
Wholesale Sales: This includes private clubs, country clubs, restaurants, and other entities where the founders have exclusive relationships. Over time, FANA will be distributed to convenience stores and other sales outlets throughout the region, including Malaysia. Retail Sales: This includes pop-up stores, carts, vending machines, and e-commerce via the FANA website. In year two, FANA will launch a retail store where gelato is sold directly to consumers. Over time, FANA will launch a network of FANA-branded stores as well as franchised stores. |
| Management Team |
Farah – Co-founder/CEO
Farah brings over 20 years of experience in research, sales, marketing, product development, insurance and psychology to her role as the CEO of FANA Gelato. Being both a foodie with a passion for flavors and creativity, and a business person with years of management experience, Farah has the right mix of insight and discipline to drive FANA Gelato to success. Farah completed a bachelor’s degree in psychology and English from the respected Sophia College, Mumbai in English, and for the past 20 years has worked as an Insurance executive in the USA. She brings with her a business acumen which will help FANA Gelato be profitable and successful. Farah also has extensive experience in marketing, the website RamKapoorRocks.com (RKR), actor Ram Kapoor’s official website, is a testament to Farah’s innovation skills, relationship building, marketing and digital/social media marketing ability. Under the tutelage of Farah, RKR had become the fastest growing fan websites. The site has received mentions in multiple magazine and newspapers. These very marketing skills will help FANA Gelato excel. Having worked besides her father who was a successful businessman, Farah learned the intricate skills of managing a successful business, hiring personnel, building long lasting relationships and satisfying the customer. Under the guidance of her father, she developed the confidence to own and run a business – it is these business management skills and integrity she brings to FANA Gelato, ensuring its success. Nadia – Co-founder/COO With experience in event management, sales, marketing, and operations, Nadia will ensure that the FANA Gelato brand is promoted and managed to ensure robust brand awareness. Nadia will manage the day to day operations of gelato manufacturing, sales, and marketing. Nadia will manage the roll-out of the pop-up shops, carts, and vending machines and ensure they are strategically positioned to maximize sales. Born and bred in Singapore as well as being a foodie, Nadia has the advantage of knowing the likes and dislikes of the multi-racial locals and people in the region. Based on this, she will be able to develop creative and unusual flavors that will make FANA Gelato unique from the competition. Nadia will also work with Farah in developing new gelato flavors and testing such flavors with local consumers. Nadia has a Diploma in Integrated Events Management from Republic Polytechnic in Singapore. Such skill sets in event planning, marketing, and sales will be critical in promoting the FANA Gelato brand, and creating innovative event-like ways to build brand awareness with the FANA brand. Having worked as an Office Manager in a small firm for the past 4 years, Nadia has developed a wide range of experience regarding management and employee training. Nadia also brings to her role as COO, strong managerial experience which she learned from her father and uncles, who were successful businessmen. These attributes will assist Nadia in finding suitable employees to help build a strong business that will generate long-term loyalty from its customers. Nadia has completed a 4 week comprehensive course at Carpigiani Gelato University in Italy, where she learned to make new recipes, more suited to Asian tastes by maestros |
| Company Background |
Final offer to invest in ‘Firenze Vienza’ as been received and all documents have been vetted
We have spoken to potential clients including restaurant owners, Food & Beverage managers of members only clubs & the owner of a hyper market. We are in the midst of creating our website, designing & building a cart & developing our digital marketing plan. We have completed a trial run using the machines we will buy & sold 30 kg of gelato. We used a focus group & received positive & constructive feedback. Appropriate adjustments to the recipes have been made, based on the suggestions received. Nadia has completed a 4 week comprehensive course at Carpigiani Gelato University in Italy, where she learned to make new recipes, more suited to Asian tastes by maestros. |
| Funding Milestone |
Investments Made
25,000 SGD Investment Opportunity 150,000 SGD FANA plans to buy stakes in an existing set up ‘Firenze Venezia’ which is a 2.5years old company and after studying their current sales reports till date the company is expected to make 600K SGD as revenues in this financial year.
We plan to buy controlling stakes in this company:
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| % Equity Allocation | 20% |
| Expected ROI | 15% – 25% |
| Risks and Mitigation |
Unknown brand because the current has not invested in brand building and marketing. We will mitigate this by rebranding the brand and having a strong marketing strategy in place.
No Online Presence- once we acquire the business we plan on hosting a complete e-commerce website where patrons can place orders and buy our products. The website is being designed by a well established company in the USA Purchasing Cost Controls – FANA will seek the best pricing and quality for all containers ingredients. Market price fluctuations will guide purchasing to ensure the company meets and exceeds profit expectations. As ingredients will be sourced from around the world, we want to ensure the best possible price. Equipment Costs – FANA requires comparatively fewer items of equipment to run an efficient operation, resulting in lower startup costs. This will in turn result in lower ongoing maintenance costs. Staff Turnover / Training Costs – Lower than normal staff turnover due to sound management philosophy and a rewarding working environment will help FANA reduce training costs and enhance employee satisfaction. Reduced staff turnover should result in fewer errors and minimum product waste while improving patron satisfaction and repeat business. Labor Costs – FANA will closely monitor labor costs to ensure that staff levels are matched with the busier and slower times of the year. As mentioned, holiday seasons will require greater staff levels regarding the carts and pop-up stores. The manufacturing facility may require additional staff when there are spikes in orders. |
| Exit Strategies |
We will pursue several possible exit strategies:
1. Franchising and IPO: Expand the model of our flagship store into a successful franchise with stores worldwide. Go public, starting an IPO and generating cash to grow the company worldwide.
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| Company Name | FANA Gelato |
| Business Address | 523B Tampines Central 7 #10 -85 522523 Singapore |
| Contact Person | Nadia Saeed |
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