Objective and Scope:

The client, a leading investment company, was assisting a culinary institute to expand its operations in one of the Middle East countries and wanted to understand the feasibility of opening a culinary arts institute. For this, it sought Benori’s support to:

• Assess market attractiveness by getting insights on other similar professional courses and institutes in the region
• Understand the demand by estimating the current potential target market for culinary arts
• Align the business investment with the financial insights of the model

Approach:

We conducted commercial and financial due diligence for the culinary arts industry. We assessed the demand for culinary arts institutes from the end-user industry and students/professionals, competition intensity in the country, and the government’s focus on Technical and vocational education and training (TVET). We sized the industry by potential prospects, estimated growth over the next five-year period, and evaluated the financial feasibility of setting up an institute.

Impact:

The research helped the client in gaining insights into:

• Consumer demand, government regulations, and acceptance of the importance of culinary arts in the hospitality sector 
• Other culinary art professional courses available across the ecosystem, and how it can get a first-mover advantage
• The preferred target segments vis-à-vis the pricing structure