Business Plan

TABLE OF CONTENTS
Executive Summary ........................................................................................................... 4

About The Company........................................................................................................ 4

Our Solution/Competitive Edge ...................................................................................... 5

The Market Opportunity ................................................................................................. 6

The Market Growth ......................................................................................................... 7

Business Overview ............................................................................................................. 7

Introduction ..................................................................................................................... 7

Mission Statement .......................................................................................................... 8

Vision Statement ............................................................................................................. 8

Business Model ................................................................................................................ 8

Products And Services ......................................................................................................10

Market Analysis Summary................................................................................................ 13

Industrial Analysis ........................................................................................................... 13

Market Needs And Trends ............................................................................................. 17

Target Market Description............................................................................................ 18

Competitive Analysis ...................................................................................................... 21

SWOT Analysis .................................................................................................................. 22

Strengths ....................................................................................................................... 22

Weaknesses ................................................................................................................... 22

Opportunities ................................................................................................................ 23

Threats ........................................................................................................................... 23

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Financial Plan .................................................................................................................... 24

Use of Proceeds............................................................................................................. 24

Income Statement......................................................................................................... 25

Balance Sheet ................................................................................................................ 28

Break-Even Analysis....................................................................................................... 30

Cash Flow Statement .................................................................................................... 32

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EXECUTIVE SUMMARY
Purpose of the Plan: We have set the following objectives to be achieved through this
document:

▪ To establish a solid online presence and become the premier destination for
gamers, web developers, and keyboard enthusiasts looking for custom and unique
mechanical keyboards in the United Arab Emirates and the wider GCC region;
▪ To negotiate and secure exclusive rights for sole agency from leading global
keyboard manufacturers, aiming to offer a unique range of products within the GCC
market; and
▪ To secure funding from small and midsize enterprises (SMEs) for startup capital and
business expansion.

ABOUT THE COMPANY

Keystrook is a ground-breaking startup in the vibrant city of Dubai, UAE, positioned to

transform the gaming and development sectors across the GCC countries. This
innovative venture offers an unparalleled selection of custom and unique mechanical
keyboards designed to meet the specialized needs of gamers and web developers. By
establishing exclusive partnerships with globally recognized manufacturers,
Keystrook aims to serve as the sole agency within the GCC market, bringing a wide
array of top-tier mechanical keyboards to a passionate community.

The company’s online website will serve as a dynamic marketplace for mechanical
keyboard enthusiasts. The focus is mainly on offering multi-mechanical keyboards
from esteemed brands such as Varmilo, Keychron, and Skyloong. This emphasis not
only addresses the diverse preferences of its target audience but also positions the
entity as a destination for those seeking quality, innovation, and variety in their
keyboard choices. It will cater to the younger generation, gamers, and web

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developers, fulfilling the growing demand for tools that enhance performance,
creativity, and personal expression through technology.

In its pursuit of becoming the leading provider of mechanical keyboards in the GCC
region, Keystrook is committed to offering a seamless online purchasing experience.
This maximizes convenience, efficiency, and customer satisfaction, ensuring a loyal
and expanding customer base. Through its initiatives and dedication to quality, it aims
to impact the gaming and development communities, offering them a single platform
that meets all their mechanical keyboard needs.

OUR SOLUTION/COMPETITIVE EDGE

The business will have the following competitive advantages in the market:

▪ Offering customization options tailored to gamers and web developers, ensuring a

personalized and enhanced typing experience for gaming performance and coding
productivity.
▪ Establishing exclusive partnerships with global manufacturers, providing access to
a distinctive selection of mechanical keyboards otherwise not readily available in
the GCC market.
▪ Emphasizing the availability of high-quality, durable keyboards from respected
brands like Varmilo, Keychron, and Skyloong, guaranteeing reliability and longevity
for users.
▪ Utilizing an online platform with user experience in mind, creating a seamless
shopping journey from product selection to delivery, specifically catered to the
tech-savvy demographic in the UAE and GCC countries.
▪ Cultivating a community of mechanical keyboard enthusiasts within the GCC region,
providing a site for users to exchange experiences, reviews, and recommendations.

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▪ Prioritizing vital customer service, including expert advice, after-sales support, and
a dedicated team available to assist with inquiries and resolve issues.

THE MARKET OPPORTUNITY

▪ The UAE's gaming industry is booming, fueled by wider access to gaming platforms,
higher disposable incomes, and an expanding community of gamers. With nine out
of ten adults in the UAE engaging in video games, 1 there will be a strong demand
for superior-quality keyboards that can elevate the gaming experience and endure
the demands of intense gaming sessions. Thus, this has brought massive market
growth opportunities for gaming keyboards, particularly those that are custom and
mechanical, designed to meet the unique requirements of gamers.
▪ Moreover, digital transformation and tech initiatives are increasing the need for
skilled web developers and IT professionals. As of 2023, the global count of web
developers stood at approximately 27.7 million.2 These professionals often struggle
with maintaining efficiency and comfort during prolonged coding sessions, which
can result in more typing mistakes and physical discomfort due to poorly designed
keyboards. Therefore, mechanical keyboards, known for their durability, tactile
feedback, and customizable options, provide a perfect solution to these
challenges.
▪ Furthermore, the e-commerce platforms and online retail channels has been
growing in UAE as of the third quarter of 2022; 60.5% of internet users in the country
owned a laptop or desktop computer.3 Also, the number of social media users in
the country is projected to reach around 9.83 million by 2025.4 Hence, this ongoing

1 https://www.pocketgamer.biz/news/81262/9-out-of-10-adults-in-the-uae-play-video-games-learn-more-about-this-fantastic-region-for-gamers-
and-gamemakers-ahead-of-the-dubai-gameexpo-summit-this-
summer/#:~:text=Nine%20out%20of%20ten%20adults,reach%20over%20306%20million%20USD.
2 https://www.bairesdev.com/blog/how-many-web-developers/
3 https://www.statista.com/statistics/1389854/uae-device-ownership-share-of-internet-

users/#:~:text=As%20of%20the%20third%20quarter,a%20laptop%20or%20desktop%20computers.
4
https://www.statista.com/topics/7072/e-commerce-in-the-united-arab-emirates/#topicOverview

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growth has created immense market growth opportunities for new entrants to sell
online, enabling them to access a wider customer base throughout the country.

Overall, Keystrook is well-positioned to thrive and establish itself as a leading provider

of premium mechanical keyboards in the UAE and GCC countries.

THE MARKET GROWTH

▪ The global mechanical keyboard industry, including the UAE, is projected to reach
$2.7 billion, growing at a compound annual growth rate (CAGR) of 6.2% by 2033.5
▪ The UAE eCommerce market is expected to show a compound annual growth rate
(CAGR 2024-2028) of 8.7%, resulting in a projected market volume of $9.4 billion by
2028.6

BUSINESS OVERVIEW
INTRODUCTION

Business Name Keystrook

Country of Incorporation United Arab Emirates
Year of Foundation 2024
Legal Status Sole Proprietorship
Business Head Muna Almazrouei
Address TBC (To be confirmed)
Phone TBC
Email TBC
Website www.keystrook.com

5 https://www.futuremarketinsights.com/reports/mechanical-keyboard-market
6
https://ecommercedb.com/markets/ae/all#:~:text=The%20United%20Arab%20Emirates%20is,US%249%2C378.6%20million%20by%202028.

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MISSION STATEMENT

“To empower mechanical keyboard enthusiasts by providing them with a superior

selection of custom and unique mechanical keyboards, enhancing their performance
through innovation and quality.”

VISION STATEMENT

“To become the leading provider in the GCC for high-quality keyboards, establishing a
community where technology meets craftsmanship and every keystroke enables
customers to unlock their full potential.”

BUSINESS MODEL
Key Partners Key Activities Value Proposition Customer Relationships Customer Segments

▪ Global ▪ Importing and ▪ Exclusive access to ▪ Personalized customer ▪ Gamers are seeking
manufacturers stocking a diverse high-quality support to assist with high-performance
such as Skyloong, range of mechanical mechanical product selection and mechanical keyboards
Varmilo, and keyboards from keyboards from customization. for enhanced gaming
Keychron for partner renowned global ▪ Regular updates and experiences.
exclusive manufacturers. manufacturers. communication ▪ Web developers
partnerships and ▪ Customizing ▪ Customization through email requiring ergonomic
supply mechanical keyboards options tailored to newsletters and social and customizable
agreements. to meet the unique gamers' and media platforms. keyboards for coding
▪ Logistics preferences of gamers developers' specific ▪ Feedback collection and and programming
companies for and developers. needs and continuous tasks.
efficient shipping ▪ Managing online sales preferences. improvement based on ▪ Mechanical keyboard
and delivery platforms and digital ▪ Seamless online customer input and enthusiasts looking for
services. marketing strategies. shopping experience reviews. unique designs and
▪ Online payment ▪ Establishing and with secure payment features unavailable in
gateways for maintaining methods. the local market.
secure relationships with ▪ Expertise in the ▪ Tech-savvy individuals
transactions. suppliers and mechanical keyboard in the UAE and GCC
customers. industry and countries interested in

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Key Resources dedication to Channels premium computer

customer peripherals.
▪ Inventory of exclusive ▪ Online sales platform
satisfaction.
mechanical keyboards for direct purchases and
from partner product information.
manufacturers. ▪ Social media platforms
▪ E-commerce platform for marketing and
for online sales and customer engagement.
customer interactions. ▪ Collaboration with
▪ Skilled workforce for influencers and content
product creators in the gaming
customization, and tech community.
logistics management, ▪ SEO optimization to
and customer support. enhance online visibility
▪ Intellectual property and attract organic
rights for securing sole traffic.
agency agreements
with manufacturers.
Cost Structure Revenue Streams

▪ Procurement costs for acquiring inventory from global ▪ Revenue generated from mechanical keyboards and related
manufacturers. accessories sales through the online platform.
▪ Operational expenses include website maintenance, marketing ▪ Customization fees for personalized keyboard modifications.
campaigns, and employee salaries. ▪ Potential revenue streams from partnerships with global
▪ Logistics costs for shipping and handling of products. manufacturers through distribution agreements and commissions
▪ Legal fees associated with securing sole agency agreements and on sales.
intellectual property rights. ▪ Expansion of product offerings and market reach to drive revenue
growth.

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PRODUCTS AND SERVICES

Our offerings will include the following:

Custom Mechanical Keyboards for Gamers and Developers

Keystrook offers an extensive range of customized mechanical keyboards tailored to
enhance the gaming and development experience. These keyboards are designed to
meet gamers' high-performance needs and developers' intricate coding requirements.
With a focus on ergonomics, durability, and customizable features, each product aims
to improve efficiency and comfort during long hours of use.

Exclusive Global Partnerships

The company stands out by securing exclusive agency rights with numerous
prestigious global manufacturers. This strategic move enables it to bring a diverse
collection of high-quality mechanical keyboards to the GCC market. Customers can
access exclusive models from brands like Varmilo, Keychron, and Skyloong, making
Keystrook a one-stop destination for enthusiasts seeking variety and innovation in
their keyboard choices.

➢ Skyloong Keyboards
▪ GK61 & SK61 Series: Compact 60% keyboards featuring vibrant RGB backlighting,
ABS double-shot keycaps and customizable layouts. Ideal for those seeking
performance without sacrificing space.
▪ GK64 & SK64 Series: Offers independent direction keys and a DEL key, enhancing
functionality in compact setups with customizable features for both general and
professional use.
▪ GK68 & SK68 Series: These 65% keyboards add a knob for additional control,
merging compact design with functional versatility, suitable for gaming and
development tasks.

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▪ GK75 & GK980 Series: The pinnacle of customization and performance, featuring
customizable knob functions, various mechanical switch options, and wireless
connectivity. The GK980 series provides a nearly full-size keyboard experience in a
96% layout.

➢ Varmilo Keyboards
▪ VXT67 & VXB67: Eucalyptus-themed keyboards with options for three-mode (Wired
+ Bluetooth + 2.4G) or dual-mode connectivity (Wired + Bluetooth), featuring hot-
swappable RGB switches or EC V2 switches in a variety of designs for an enhanced
typing experience.
▪ VXT81 & VXB81: Available in Eucalyptus and Bluebell themes, these models offer
advanced connectivity options and come equipped with Varmilo Daisy L or EC V2
switches, catering to tactile feedback and backlighting preferences.
▪ VPM87 / VPB87 & VPM108 / VBM108 / VEM108: Featuring themes such as Chang'e,
Crane of Lure, and more, these models provide a choice between wired and dual-
mode connectivity with white backlighting, incorporating Varmilo EC V2 switches
for a premium typing feel.
▪ VTP68: Covering Classic Black, Lilac, and Ariel themes, these keyboards offer three-
mode connectivity and hot-swappable RGB, equipped with Kailh Prestige Voice and
Varmilo Daisy L switches for versatility and performance.
▪ VYU67: The Victory model is a wired mechanical gaming keyboard with hot-
swappable RGB keys, a Varmilo Victory Magnet Switch, and a durable metal build
for an uncompromising gaming experience.

➢ Keychron Offerings
▪ Wireless Mouse: Various wireless mouse models, such as M6-A1, M4-A4, and M3-
A1, are designed for precision and ease of use.

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▪ QMK Custom Keyboards: Featuring a standard profile with customizable firmware

for a tailored typing experience, models include Q1-A1, Q2-A1, and Q3-A1, among
others.
▪ Low Profile Keyboards: Offering sleek, low-profile designs without compromising
functionality. Models include K1-A1 and K5-A1 for those who prefer a minimalist
setup.
▪ Regular Profile Keyboards: Standard-profile keyboards are designed for durability
and comfort, with K2-A1, K4-A1, and K6-O1 catering to various user preferences.
▪ QMK/VIA Keyboards: Advanced keyboards with standard profiles, customizable
with QMK or VIA firmware for enhanced personalization, including C1 Pro and C2
Pro models.

Online Marketplace
Operating through an online platform, the company offers a seamless shopping
experience from browsing to checkout. The website facilitates easy navigation,
detailed product information, and a secure payment gateway. This digital approach
caters to the tech-savvy population in the UAE and other GCC countries, ensuring a
broad reach and overcoming geographical barriers.

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MARKET ANALYSIS SUMMARY

INDUSTRIAL ANALYSIS

Mechanical Keyboards Industry

The mechanical keyboard market is experiencing significant growth. The increasing

demand for high-performance and customizable keyboards, especially in the gaming
industry, is driving the growth of this market. As more and more people are engaging
in gaming activities and demanding better gaming peripherals, mechanical keyboards
have gained significant popularity. Additionally, the rise in remote working and the
need for comfortable typing experiences have also contributed to the market growth.
Mechanical keyboards offer a more comfortable typing experience, reducing the risk
of repetitive strain injuries.

Moreover, the ongoing technological advancements in mechanical switches, such as

the introduction of low-profile switches and wireless connectivity options, are likely to
attract more consumers and enhance market growth. Furthermore, the growing trend
of customization and personalization in consumer electronics is expected to fuel the
demand for mechanical keyboards. Manufacturers are offering various customization
options, such as RGB lighting, programmable macros, and detachable keycaps, to cater
to the evolving preferences of consumers.7

United Arab Emirates Keyboards – Market

▪ The UAE keyboards market amounts to $10.8 million by the end of 2024.
▪ It is projected to experience an annual growth rate of 0.69% (CAGR 2024-2028).

7
https://medium.com/@vrahul.reportprime/mechanical-keyboard-market-size-forecast-2023-to-2030-8abba21de146

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▪ In terms of per capita revenues, the United Arab Emirates generates $1.13 per
person in 2024.
▪ Looking ahead, the volume in the keyboards market is expected to reach 0.4m
pieces units by 2028. In 2025, the market is anticipated to exhibit a volume growth
of 0.3%.
▪ The average volume per person in the keyboards market is projected to be 0.1
pieces units in 2024.
▪ The United Arab Emirates is experiencing a growing demand for high-end
mechanical keyboards among gaming enthusiasts.8

Golf Cooperation Council (GCC) Keyboards – Market

▪ In 2024, the revenue in the keyboards market in the GCC amounts to $77.7 million.
It is projected to grow annually by 1.69% (CAGR 2024-2028).
▪ In terms of per-person revenues, $1.29 is generated in 2024.
▪ By 2028, the volume in the keyboards market is expected to reach 3.0m pieces
units. The market is projected to experience a volume growth of 1.1% in 2025.
▪ The average volume per person in the keyboards market is anticipated to be 0.1
pieces units in 2024.
▪ The demand for high-end mechanical keyboards is rising in the GCC, with gaming
enthusiasts in Saudi Arabia leading the trend.9

Market Growth Factors

▪ Keyboards with mechanical switches have more of a premium feel and look, making
them appealing to style-conscious individuals. Mechanical switch technology has
continuously evolved, including optical switches and hybrid switches. These

8 https://www.statista.com/outlook/cmo/consumer-electronics/computing/keyboards/united-arab-emirates
9
https://www.statista.com/outlook/cmo/consumer-electronics/computing/keyboards/gcc

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innovations have attracted consumers seeking the latest technological

advancements in keyboards.
▪ With gaming and eSports becoming more popular, mechanical keyboards have
become more popular. For durability, tactile feedback, and faster response times,
mechanical switches are a popular choice among gamers. Increasing demand for
portable keyboards and aesthetically pleasing keyboards is expected to increase
industry growth. 10
▪ Mechanical keyboards offer richer feature sets than membrane-based keyboards,
which is expected to boost market growth in the near future. These features
include enhanced performance in terms of response time and tactility required for
professionals and gamers, extended durability, i.e. it can support over 50 million
strokes as compared to membrane-based stroke that can support 10 million
strokes, and augmented user experience with respect to customizable options for
key functions, LED backlights, and chassis.
▪ The PC gaming market is expected to witness significant growth in the near future.
This, in turn, has increased the demand for gaming accessories such as mechanical
keyboards in the market.11

Role of Mechanical Keyboards for Programmers

In recent years, mechanical keyboards have gained popularity among programmers
for their superior tactile feedback and durability. One of the primary reasons why
programmers favour mechanical keyboards is their enhanced typing experience.
Mechanical switches provide tactile feedback that helps programmers accurately
register key presses, resulting in fewer errors. The distinct feedback also allows
programmers to develop a rhythm while typing, significantly improving their overall
speed and efficiency. Moreover, the audible clicks produced by mechanical keyboards

10 https://www.futuremarketinsights.com/reports/mechanical-keyboard-market
11
https://www.coherentmarketinsights.com/market-insight/mechanical-keyboard-market-1888

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ensure that the keystroke has been registered, boosting confidence during intense
coding sessions.12

Growth of Online Sales Platform Market

The United Arab Emirates is the 45th largest market for eCommerce, with a predicted
revenue of $6.7 billion by 2024, placing it ahead of Colombia. 13 The growth of the online
sales platform market in the country is robust, with the e-commerce sector
experiencing significant expansion. The increase in internet and mobile penetration,
14
along with improved online payment infrastructure, has driven this growth.
Consumer behaviour in the region shows a strong trend towards online shopping. For
example, a study revealed that nearly three-quarters of UAE consumers increased their
online shopping activities.15

Furthermore, eCommerce in the GCC is still evolving, with online retail accounting for
a small percentage of the total GDP, indicating room for substantial growth. The
presence of both local and global e-commerce players has increased competition and
consumer trust in online shopping. Investments in digital payment solutions and
logistics infrastructure are making it easier and more convenient for consumers to
shop online, contributing to the continued growth of the e-commerce market in the
region.16

12 https://www.meetion.com/a-are-mechanical-keyboards-better-for-
programming.html#:~:text=Mechanical%20switches%20provide%20a%20tactile,their%20overall%20speed%20and%20efficiency.
13 https://ecommercedb.com/markets/ae/all#:~:text=The%20United%20Arab%20Emirates%20is,US%249%2C378.6%20million%20by%202028.
14 https://istizada.com/blog/gcc-e-commerce-statistics/
15 https://gulfbusiness.com/how-e-commerce-in-the-gcc-has-taken-flight/
16
https://abmagazine.accaglobal.com/global/articles/2023/apr/business/e-commerce-on-the-up-in-gcc.html

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MARKET NEEDS AND TRENDS

▪ Customers expect durable and well-built mechanical keyboards that can withstand
heavy usage.
▪ Clienteles look for keyboards that offer customizable features such as hot-
swappable switches, RGB lighting customization, programmable macros, and the
ability to use custom keycaps to match their aesthetic preferences.
▪ Programmers seek ergonomic designs that promote proper hand positioning,
reduce strain on wrists, and provide a comfortable typing angle.
▪ Buyers expect mechanical keyboards to be compatible with a wide range of
devices.
▪ Clients are increasingly looking for convenient online shopping experiences where
they can easily browse, customize, and purchase their desired products.
▪ Gaming enthusiasts and developers appreciate keyboards that come with intuitive
software for advanced customization.
▪ For gaming and professional use, customers seek keyboards with fast response
times.
▪ Clients look for companies with a track record of delivering high-quality products,
excellent customer support, and reliable warranties or guarantees.
▪ There has become a trend among keyboard manufacturers to manufacture their
keyboard switches in order to reduce their dependency on third-party switch
manufacturers and reduce the cost of the overall product.
▪ Certain keyboard manufacturers emphasized enhancing key switch functionality,
such as increasing the number of keys in the N-key rollover function and inclusion
of anti-ghosting features, in order to improve the gaming experience and
functionalities for various professionals.

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TARGET MARKET DESCRIPTION

Our target market includes individuals, gamers, web developers, desktop users,
students, the working population, and remote workers. Below is a brief description of
our target customers:
▪ Individuals: People looking for a personalized typing experience, valuing
customization and quality in their peripherals.
▪ Gamers: They seek high-performance keyboards for a competitive edge, with
features like N-key rollover and customizable macros.
▪ Web Developers: This group requires reliable keyboards that can withstand
prolonged coding sessions, with a preference for tactile feedback and
programmability.
▪ Desktop Users: They use their computers extensively for various tasks,
appreciating mechanical keyboards' durability and enhanced typing experience.
▪ Students: This targeted group needs durable, versatile keyboards for both study
and entertainment, balancing budget and functionality.
▪ Working Population: Professionals in various fields looking for ergonomic
keyboards to improve productivity and reduce strain during long work hours.
▪ Remote Workers: This segment prioritizes comfortable, efficient setups at home
offices, valuing keyboards that enhance their work-from-home experience.

Statistics of Potential Target Customers

Dubai UAE
Population 3,051,01617 9,570,483
Median Age - 33.5 years18

17 https://worldpopulationreview.com/world-cities/dubai-population
18
https://www.worldometers.info/world-population/united-arab-emirates-population/

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Average Monthly Salary 4275.02 USD 3893.81 USD

Average Yearly Salary 51463.58 USD19 46834.59 USD20

Population by Age, UAE

12%

15-24 Years
25-54 Years

88%

Gamers
Nine out of ten adults in the UAE play video games, and 90% of respondents in a Global
Consumer Survey by Statista considered themselves gamers, with 23% identifying
themselves as frequent players, meaning they play at least 11 hours per week. 21

Web Developers
As of 2023, there were roughly 27.7 million web developers globally. Most of the
market consisted of male developers—80% vs. approximately 20% female.22

19 https://www.salaryexplorer.com/average-salary-wage-comparison-dubai-t2426
20
https://www.salaryexplorer.com/average-salary-wage-comparison-united-arab-emirates-c227
21 https://www.pocketgamer.biz/news/81262/9-out-of-10-adults-in-the-uae-play-video-games-learn-more-about-this-fantastic-region-for-gamers-

and-gamemakers-ahead-of-the-dubai-gameexpo-summit-this-
summer/#:~:text=Nine%20out%20of%20ten%20adults,reach%20over%20306%20million%20USD.
22
https://www.bairesdev.com/blog/how-many-web-developers/

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Computer/Desktop Users

▪ As of the third quarter of 2022, 60.5% of internet users in the UAE owned a laptop
or desktop computer.23
▪ The approximate number of personal computers in use worldwide is 2 billion. 24

Students
As per the research conducted by CHEDS (Central Higher Education Data Store),
133,841 students were enrolled in various higher education institutions in the UAE in
2022.25

Working Population
The labour force in the United Arab Emirates was reported at 6588824 in 2022,
according to the World Bank collection of development indicators compiled from
officially recognized sources.26

Remote Workers

▪ Remote Employment in the UAE has increased to 144% by 2023 compared to

previous years.27
▪ In Dubai, more than 62% of the people have worked remotely in the past few
years.28

23 https://www.statista.com/statistics/1389854/uae-device-ownership-share-of-internet-
users/#:~:text=As%20of%20the%20third%20quarter,a%20laptop%20or%20desktop%20computers.
24 https://gitnux.org/personal-computer-statistics/
25 https://gyanberry.com/blog/best-universities-in-uae-in-2023-fees-rankings/
26
https://tradingeconomics.com/united-arab-emirates/labor-force-total-wb-
data.html#:~:text=Labor%20force%2C%20total%20in%20United,compiled%20from%20officially%20recognized%20sources.
27 https://uae-voice.net/remote-employment-in-the-uae-increased-to-144-by-2023/
28 https://www.michaelpage.ae/advice/insights/latest-insights/remote-working-can-lead-higher-productivity-and-motivation-

according#:~:text=In%20Dubai%2C%20more%20than%2062,or%20other%20floor%2Dbased%20roles.

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COMPETITIVE ANALYSIS

Virgin Megastore Microless Ctens

It is an electronics store It is an online retailer It is an online shopping store

offering various products, specializing in computer parts, in UAE offering laptops,
Introduction including electronics, music, laptops, gaming PCs, etc. gaming PCs & accessories,
movies, and more. mobile, tablets & all network
products.
▪ Mechanical Keyboards ▪ Mechanical Keyboards ▪ Mechanical Keyboards
▪ Mechanical Gaming ▪ Mechanical Gaming ▪ Computer Components
Keyboards Keyboards ▪ Mobile and Tablets
▪ Tech Products ▪ Computers and Laptops ▪ Laptops
Offerings/
▪ Gaming Products ▪ Printers and Scanners ▪ Gaming Products
Products
▪ Sports and Outdoor ▪ Mobile and Tablets ▪ Electronics
Products ▪ Electronics and Home ▪ Printers, Scanners, and
▪ Smart Home Products Products More
▪ Books, Music, and More
▪ Its ability to provide the ▪ It has been serving its ▪ It has earned an excellent
latest technology and customers since 2011. market reputation.
entertainment products ▪ It utilizes multiple ▪ It offers its products at
under one roof, along convenient payment the best prices.
with a robust online options to make payments ▪ It provides excellent
Strengths
store, positions itself as a easy for its clients. customer service to its
key player in the retail ▪ It also provides repair customers for a better
market in the UAE. services to its customers. experience.
▪ It has a helpful and
friendly staff that

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perfectly caters to all the

needs of its customers.
Social Media
High High High
Focus
Google
4.4* 4.4* 4.7*
Rating

Online
Delivery
✓ ✓ ✓
Website/
www.virginmegastore.ae https://uae.microless.com/ www.ctens.com
Weblink

SWOT ANALYSIS

STRENGTHS

▪ Passionate, dedicated, and committed to serving the gaming and web

development communities with top-tier mechanical keyboards, fostering
innovation and community engagement.
▪ Implementing targeted marketing strategies focused on the younger generation
and web developers, directly appealing to the needs and preferences of these
crucial customer segments.
▪ Adapting swiftly to market trends, customer feedback, and new technological
developments in the mechanical keyboard industry, maintaining a flexible and
responsive business model.

WEAKNESSES

▪ Engage with legal experts familiar with the GCC region to navigate the complexities
of international e-commerce, including taxes, customs regulations, and digital
payments, ensuring compliance and minimizing potential legal hurdles.

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▪ Implementing robust supply chain management practices, including maintaining

safety stock, diversifying logistics partners, and monitoring supply chain risks, can
help minimize disruptions and improve reliability.

OPPORTUNITIES

▪ The increasing popularity of gaming and web development is driving demand for
high-quality keyboards.
▪ The rise in remote working and the need for comfortable typing experiences
presents remarkable market growth opportunities.
▪ The rising shift towards online shopping in Dubai presents significant market
growth opportunities.
▪ The increasing penetration of the internet in the UAE has brought a boom in market
expansion.
▪ The market has growth potential by collaborating with gaming and tech
communities, esports events, and software development companies.

THREATS

▪ The market has low barriers to entry.

▪ Economic fluctuations and changing consumer preferences can impact the demand
for luxury or niche products like custom mechanical keyboards.

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FINANCIAL PLAN

USE OF PROCEEDS

Costs Amount

Fixed Assets:

IT & Development Costs $2,000

Other Long-Term Assets $10,000

Current Assets:

Cash (Working Capital & Reserves) $45,500

Inventory $300,000

Expenses:

Registration & Licenses $10,000

Legal Fees $7,500

Marketing Budget $20,000

Miscellaneous & Unforeseen Costs $5,000

Assets to Fund $357,500

Expenses to Fund $42,500

Total Investment $400,000

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 Business Plan

INCOME STATEMENT

Pro Forma Profit and Loss Year 1 Year 2 Year 3 Year 4 Year 5
Total Revenue $447,000 $581,100 $675,894 $1,013,840 $1,351,787
Cost of Revenue $268,200 $348,660 $405,536 $608,304 $811,072
Gross Margin $178,800 $232,440 $270,357 $405,536 $540,715

Operating Expenses:
Payroll $108,000 $115,646 $123,834 $132,602 $141,990
Payroll Taxes $9,180 $23,129 $24,767 $26,520 $28,398
Marketing & Advertising $24,000 $26,400 $29,040 $31,944 $35,138
Telephone & Internet Bills $1,920 $1,980 $2,041 $2,104 $2,169
Supplies $3,000 $3,093 $3,189 $3,288 $3,390
Insurance $6,000 $6,186 $6,378 $6,575 $6,779
Web Maintenance $4,800 $4,949 $5,102 $5,260 $5,423
Miscellaneous Expenses $6,000 $6,186 $6,378 $6,575 $6,779

Total Expenses $162,900 $187,569 $200,729 $214,869 $230,067

EBITDA $15,900 $44,871 $69,629 $190,667 $310,648

Interest Expense $0 $0 $0 $0 $0

EBTDA $15,900 $44,871 $69,629 $190,667 $310,648

Depreciation $1,200 $1,200 $1,200 $1,200 $1,200

Earnings before Tax (EBT) $14,700 $43,671 $68,429 $189,467 $309,448

Tax $0 $0 $0 $0 $0

Net Income / (Loss) $14,700 $43,671 $68,429 $189,467 $309,448

Net Income/Revenue 3.29% 7.52% 10.12% 18.69% 22.89%

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 Business Plan

Total Revenue
$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Net Income
$350,000

$300,000

$250,000

$200,000

$150,000

$100,000

$50,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

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27 | P a g e
$20,000
$40,000
$60,000
$80,000
$50,000

$100,000
$120,000
$100,000
$150,000
$200,000
$250,000

$0
$0
Mon 1
Mon 3
Mon 5
Mon 7
Mon 9
Mon 11

Year 1
Mon 13
Mon 15
Mon 17
Mon 19
Mon 21
Mon 23

Year 2
Mon 25
Mon 27
Mon 29
Mon 31
Mon 33
Mon 35 Year 3
Total Expenses

Mon 37

Monthly Revenue
Mon 39
Mon 41
Mon 43
Mon 45
Mon 47
Year 4

Mon 49
Mon 51
Mon 53
Mon 55
Mon 57
Mon 59
Year 5
Business Plan
 Business Plan

BALANCE SHEET

Assets and Liabilities Year 1 Year 2 Year 3 Year 4 Year 5

Non-Current Assets
IT & Development Costs $1,800 $1,600 $1,400 $1,200 $1,000
Other Long-Term Assets $9,000 $8,000 $7,000 $6,000 $5,000

Current Assets

Cash $368,375 $423,590 $489,111 $665,134 $961,137

Accounts Receivable $3,725 $4,843 $5,632 $8,449 $11,265
Inventory $31,800 $37,772 $43,933 $65,900 $87,866

Total Assets $414,700 $475,804 $547,077 $746,682 $1,066,268

LIABILITIES AND EQUITY:
LIABILITIES
Accounts Payable $0 $17,433 $20,277 $30,415 $40,554
Loan $0 $0 $0 $0 $0
Total Liabilities $0 $17,433 $20,277 $30,415 $40,554
EQUITY
Capital $400,000 $400,000 $400,000 $400,000 $400,000
Retained Earnings $0 $14,700 $58,371 $126,800 $316,267
Profit or loss balance $14,700 $43,671 $68,429 $189,467 $309,448
TOTAL EQUITY $414,700 $458,371 $526,800 $716,267 $1,025,714
TOTAL LIABILITIES AND EQUITY $414,700 $475,804 $547,077 $746,682 $1,066,268

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 Business Plan

Yearly Total Assets

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Monthly Total Assets

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
Mon 27

Mon 49
Mon 11
Mon 13
Mon 15
Mon 17
Mon 19
Mon 21
Mon 23
Mon 25

Mon 29
Mon 31
Mon 33
Mon 35
Mon 37
Mon 39
Mon 41
Mon 43
Mon 45
Mon 47

Mon 51
Mon 53
Mon 55
Mon 57
Mon 59
Mon 5
Mon 1
Mon 3

Mon 7
Mon 9

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 Business Plan

BREAK-EVEN ANALYSIS

Particulars Year 1 Year 2 Year 3 Year 4 Year 5

Sales-Revenue $447,000 $581,100 $675,894 $1,013,840 $1,351,787

Variable Cost $291,180 $386,017 $444,972 $649,948 $855,063

Contribution $155,820 $195,083 $230,922 $363,892 $496,724

Contribution Margin 34.86% 33.57% 34.17% 35.89% 36.75%

Fixed Cost:
Total Selling General and Admin
Expenses $141,120 $151,412 $162,493 $174,425 $187,277

Total Fixed Cost

$141,120 $151,412 $162,493 $174,425 $187,277

Break Even Sales $404,830 $451,016 $475,606 $485,966 $509,656

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 Business Plan

Break Even Sales

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Actual Sales
$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

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 Business Plan

CASH FLOW STATEMENT

Particulars Year 1 Year 2 Year 3 Year 4 Year 5

Cash Inflows:
Sales Revenue $443,275 $579,983 $675,104 $1,011,024 $1,348,971
Loan Proceeds / Capital Injection $400,000 $0 $0 $0 $0
Total Inflows $843,275 $579,983 $675,104 $1,011,024 $1,348,971

Cash Outflows:
Payroll $108,000 $115,646 $123,834 $132,602 $141,990
Payroll Taxes $9,180 $23,129 $24,767 $26,520 $28,398
Marketing & Advertising $24,000 $26,400 $29,040 $31,944 $35,138
Telephone & Internet Bills $1,920 $1,980 $2,041 $2,104 $2,169
Supplies $3,000 $3,093 $3,189 $3,288 $3,390
Insurance $6,000 $6,186 $6,378 $6,575 $6,779
Web Maintenance $4,800 $4,949 $5,102 $5,260 $5,423
Miscellaneous Expenses $6,000 $6,186 $6,378 $6,575 $6,779
Tax $0 $0 $0 $0 $0
Cash Paid for Inventory $0 $337,199 $408,854 $620,132 $822,900
Purchase of Assets $312,000 $0 $0 $0 $0
Loan Repayment $0 $0 $0 $0 $0

Total Outflows $474,900 $524,768 $609,582 $835,001 $1,052,968

Net Cash generated $368,375 $55,215 $65,521 $176,023 $296,003

Opening Cash Balance $0 $368,375 $423,590 $489,111 $665,134

Ending Cash Balance $368,375 $423,590 $489,111 $665,134 $961,137

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 Business Plan

Yearly Cash Balance

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Monthly Cash Balance

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
Mon 27

Mon 49
Mon 11
Mon 13
Mon 15
Mon 17
Mon 19
Mon 21
Mon 23
Mon 25

Mon 29
Mon 31
Mon 33
Mon 35
Mon 37
Mon 39
Mon 41
Mon 43
Mon 45
Mon 47

Mon 51
Mon 53
Mon 55
Mon 57
Mon 59
Mon 5
Mon 1
Mon 3

Mon 7
Mon 9

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