Executive Summary

Company Profile Summary

Our key offerings are beverage products and several kinds of desserts/sweets. For a better understanding, our main focus is on coffee-related drinks that are popular among the Vietnamese population, including some well-known signature items. We also offer various kinds of juice that are in favour of the population (Ngo, 2020). In addition, we are committed to making our shop a place where customers can have some decent space to relax and having great conversations with their loved ones while enjoying the peaceful atmosphere and decorations bearing the old Saigon. Last but not least, we offer professional services that are certified by the Vietnam Food Industry under the Health Ministry.

There are five core members behind our business.

1. Cam Hua (Shift Supervisor, Full-time Barista; Co-owner)

2. Nhu Tran (Shift Supervisor, Co-owner; Co-founder)

3. Mi Nguyen (Cafe Manager, Co-owner; Co-founder)

4. Minh Phong Ly (Cafe Associate, Cafe Marketer; Co-Owner)

5. Bao Han Nguyen (Cafe Associate, Accountant; Co-owner)

Market Research Summary

The pandemic is strictly monitored by the Government of Vietnam, most cases are taken under control by the Government. As a result, businesses are still operating as usual following the Government’s rules and safety protocols. With that said, businesses need to prepare for huge competitions.

For the city-wide level, coffeeHolic is located in Ho Chi Minh City, which is accounted for one-third of Vietnam’s GDP and is one of the fastest-growing markets in Asia-Pacific (Indochina Properties, nd). Many coffee shops are located around the city such as L’Usine, Cafe Runam, Boo Coffee, Cà Phê Đỗ Phủ, The Vintage Emporium Thao Dien (Miniano & wordsmith, 2020). For the district-wide level, our coffee shop is located in the Cho Lon area. There are plenty of vintage café shops located around the area. Additionally, coffeeHolic has to compete with various café patios like Koi Garden Coffee Đại Thế Giới, Nhật Nguyệt Coffee, Cát Đằng Coffee, Book Café PNC, Café Pha Lê Đá and Rita Võ Coffee (Bùi Thương, 2020).

The first competitor is KAI Coffee which attracts customers by its strengths such as location, amazing products, reasonable prices, and pretty space for taking photos. The second competitor is Cheese Coffee which attracts customers because of its convenient location, environment-friendly drinkware. The last competitor is LaHa Coffee which is well-known for high-quality coffee beverages and signature items made from Vietnamese coffee beans at lower prices. However, all these three competitors have their own weaknesses, which are good examples that we can learn from to improve our business.

We focus on customers aged 25 to 34 since they had accounted for the majority of coffee consumers in Vietnam throughout 2020 (Statista Research Department, 2021). Our customers' hobbies/interests are numerous, but hanging out at coffee shops is one of the most popular ones (Stephenson, 2019). Furthermore, we welcome all genders as we do offer a variety of beverages.

(Statista Research Department, 2021; Q., 2020). All levels and occupations because our prices are affordable for all to enjoy.

Marketing Summary

1. Unique Packaging: by collaborating with professionals, we will ensure our products’ packaging stands out and meets our expectations such as sustainability, details, colours, and meanings (The Unique Group, 2016).

2. Marketing through social media platforms: we will focus on Instagram as it is more appealing and popular among young people in Vietnam (Most popular social media in Vietnam, 2019). In particular, we will invite influencers/reviewers to visit and create the best review content about the shop (Panchal, n.d.).

3. Deals/Promotions/Special Events: we will offer deals on special occasions, and host events at our shops such as Singing Together, English Classes, Workshops, and other seasonal/occasional events. We believe these events can help enhance brand awareness and attract more customers (Jackson, 2017).

We start by addressing legal and regulatory items, including business registration certificate (National Business Registration Portal, n.d.), lease contract agreement (Harroch, 2016), trademark registration, and industry-specific licenses (Vietanlaw, n.d.). The co-owners will look into insurance plans protecting our financial security, proper start-up cost calculations, break-even analysis, and other expenses assumptions (Yahoo Small Business, 2020).

To create a great customer service experience, we will implement logistics strategies to deliver excellent customer service according to our brand's values, mission, and visions. Additionally, team members will develop a connection with the customers by capturing regular feedback. Lastly, we create a customer profile by analyzing its target audience to optimize their experience at the shop.

Finance Summary

We need roughly 26,483.37 CAD to start our business; which includes fees for accounting, business permits/licenses, inventory, marketing, promotions, employees’ wages, rent, utilities, security, and insurance. To overcome all the projected costs and expenses. This amount consists of the owners’ distribution of 23, 483.37 CAD and a bank loan of 3000 CAD (VietCombank, n.d.).

We plan on generating 100 transactions per day and with the average sales is 3.25 CAD per receipt, we expect to earn 325CAD per day and about 9750 CAD per month, assuming we will open every day (Wikipedia, 2021). Also, we expect the sales to double within 2 to 5 years (Elisabeth Natter, 2019). In the first year, we may not attract many customers; however, after the second year, when we are able to attract a stable number of customers, we expect revenue to go up by 10% and costs will grow by 5% (expenses are less than revenue because fixed costs will remain the same in coming years while other variable costs such as supplies, utilities, and advertisement may increase).