IMES undertakes four main types of consultancy project:
“How do we turn this idea into reality?”
Case Study 1:
Saudi Economic Development Company (SEDCO) determined the need to invest in a cash generating business to complement its holdings in long-term growth areas such as real estate. With IMES’ help, the company generated a long-list of 11 possible businesses for investment. IMES then undertook pre-feasibility studies into all 11 areas, eliminating five, before carrying out feasibility studies on the remaining six. It was concluded that an entry into the retail pharmacy sector most closely matched SEDCO’s requirements. IMES was then asked to prepare a business plan for entering the retail pharmacy market. Building on information collected during the feasibility study with additional field research, IMES defined realistic financial objectives for the proposed pharmacy chain and described how these could be realised in terms of number and location of stores, operational requirements, branding and USP etc. Each element of the plan was carefully costed and forecast financial statements were prepared. Scenarios for ‘likely case’, ‘best case’ and ‘worst case’ were submitted. The plan was presented to and discussed in depth with SEDCO’s executive committee. Convinced of the merits, SEDCO decided to proceed with the plan. However, rather than develop the business from scratch, SEDCO approached the owners of the Al Nahdi pharmacy chain (identified during research as among the most professionally run in the Kingdom) and acquired a 50% shareholding.
Case Study 2:
A group of Arab investors identified the worldwide growth in health spas as a potential area for investment. Both for cultural reasons and in order to diversify their holdings it was felt that a European location was preferred for the planned venture, and initial analysis by IMES suggested targeting London. IMES was then commissioned to develop the business plan. We began with a competitive analysis of existing health spas in the city, noting their exact locations and the range of treatments offered. Comparison of this information with international trends in spas enabled us to recommend both a location and service range for the new spa, even down to identification of a preferred street. A full plan for realisation of the spa was then developed, covering details such as the size, facilities, customer capacity, range of services, staffing requirements, USP, etc. as well as a critical path analysis for the spas construction and launch, with recommendations for specific contractors. All of IMES’ recommendations were accepted by the clients. Unfortunately, in light of terrorist attacks the decision was taken to put the project on hold.