UNIVERSITY OF ECONOMICS – THE UNIVERSITY OF DA NANG
DEPARTMENT OF ENGLISH FOR SPECIFIC PURPOSES
🙟🕮🙝
GROUP REPORT
SUBJECT: BUSINESS ENGLISH
TOPIC: BUSINESS PLAN
Instructor
:
Nguyen Thi Dieu Phuong
Class
:
ENG3001_11
Group
:
11
Team member
:
Tran Thi Nhu Quynh
Nguyen Thi Phuong Thao
Bien Uyen Nhi
Luong Viet Duc
Da Nang, 30 November 2024
TABLE OF CONTENTS:
I.
Overview about market .....................................................................................4
II. Product idea ........................................................................................................4
III.
Market research .............................................................................................5
1.
4Ps ....................................................................................................................5
2.
Customer ..........................................................................................................9
3.
Competitor: ......................................................................................................9
IV.
Business plan ................................................................................................10
1.
Vision .............................................................................................................10
2.
Mission ...........................................................................................................10
3.
Objective ........................................................................................................10
4.
Business process ............................................................................................10
5.
Human resources ............................................................................................12
V.
Getting finance .............................................................................................12
VI.
Build a customer base ..................................................................................13
VII.
Conclusion .....................................................................................................16
1
IMAGE PORTFOLIO
Figure 1: Market share of the number of food and beverage service
establishments in Midside Vietnam .................................................................. 4
Figure 2: Proposed business location ................................................................ 7
Figure 3: Detail about proposed rental space .................................................... 7
Figure 4: Initial startup costs ........................................................................... 13
2
3
Trần Thị Như Quỳnh
Nguyễn Thị Phương Thảo
Lương Việt Đức
Biện Uyển Nhi
2
3
4
Student name
1
No
- Submit deadline on time
- A serious attitude
towards doing exercises,
actively contributing to
the project.
- Submit deadline on time
- A serious attitude
towards doing exercises,
actively contributing to
the project.
- Submit deadline on time
- A serious attitude
towards doing exercises,
actively contributing to
the project.
- Submit deadline on time
- A serious attitude
towards doing exercises,
actively contributing to
the project.
- Conduct market research
- Prepare a good bussiness plan
- Getting finance
Evaluation
- Develop a new product idea
- Do report/ conclusion
Individual duties
INDIVIDUAL CONTRIBUTION EVALUATION
100%
100%
100%
100%
%
Contribution
I.
Overview about market:
Da Nang currently leads the Central region of Vietnam in the number of food and
beverage service establishments, accounting for 25.8% of the market share. This
highlights the city’s significant position in the culinary and service industries in
the region. With its strategic geographical location on the North-South trade route
and strong potential for tourism development, Da Nang has become an ideal
destination for investors in the food and beverage sector. Additionally, the vibrant,
youthful workforce and the modern lifestyle of the local population create
favorable conditions for the growth of service business models.
However, this rapid development also brings considerable challenges. The food
and beverage market in Da Nang has become more competitive than ever, with
the emergence of numerous brands, both domestic and international. This makes
it imperative for new entrepreneurs to not only tackle the pressure of high initial
investment costs but also craft unique business strategies to stand out and attract
customers. Therefore, leveraging the city’s inherent advantages while adapting to
the constantly evolving market dynamics will be a significant challenge for those
currently entering or planning to enter this sector.
Figure 1: Market share of the number of food and beverage service establishments in Midside Vietnam
II.
Product idea:
4
Our model may not be novel, but we are confident that it will meet the needs of
our customers:
-
Name: Gathering
-
Slogan: “Gathering” would not only be a destination, but also a destiny
-
Location: Xo Viet Nghe Tinh Street
-
Brand story:
Rooted from familiar meal in accordance with tradition: In central
Vietnam, the hearth is more than just where to cook; it's the heart of the
home; it’s the flame of friendship, connecting and tieing/tying as an
invisible emotion cord. From spending leisurely evenings grilling fresh
fish on the Da Nang coast to enjoying hearty hotpot dinners on chilly
nights, the cozy but relaxing hearth has always been a focal point for family
and friends where they can let off their steam.
Flavors of togetherness: Our signature hotpot is simmered with a family
recipe, offering a comforting flavor that appeals to all ages. Our sizzling
grills feature the freshest seafood and meats, allowing you to cook and
savor each bite together.
A gather place is more than a food shop, it's a place to connect. Our space
is designed to foster a sense of warmth and intimacy.
III.
Market research:
1. 4Ps:
-
Product:
 Main dishes: Grill - hotpot at an affordable price of 150.000 VND
– 200.000 VND/person.
 Quality: Delivering fresh, delicious ingredients with care and safety.
 Additional services: Offer low-priced drinks, decorate the space for
events upon customer request.
 Differentiation:
Focus on convenience and youth-friendly ambiance.
Provide high-quality products at a reasonable price.
5
We choose this product for many reasons:
 Potential market: The price range of 150.000 VND – 200.000
VND/person targets middle-income customers, a rapidly growing
market. Additionally, this pricing is competitive against major
brands while offering a more personalized and unique experience.
Grill - hotpot is not a seasonal dish, so the food shop's revenue will
not be significantly affected by changes in weather.
 High profitability: The grill - hotpot model has reasonable
ingredient costs but offers high profit margins, especially through
side dishes and services. By optimizing operational processes, the
food shop can minimize expenses and enhance business efficiency.
 Young customer preferences: This price range is highly suitable for
young customers (Gen Z and Millennials), who tend to spend
generously on dining experiences and have moderate expectations
for space and service standards.
-
Price:
 Pricing strategy: Competitive pricing (150.000 VND – 200.000
VND/person) tailored to target customers (students, young people).
 Implement combo pricing to encourage additional spending.
 Promotional pricing: Discounts during off-peak hours or “group of
4 gets a free dish” promotions.
Our pricing approach is designed to meet two critical criteria: delivering highquality products at a reasonable cost. This pricing has been carefully
calculated to match the spending capacity of our main customer base,
including students and young professionals. It not only ensures market
competitiveness but also facilitates customer retention. We believe this pricing
strikes the perfect balance between quality and value, ensuring customer
satisfaction and loyalty.
-
Place:
 Location: Xo Viet Nghe Tinh Street
6
Figure 2: Proposed business location
Figure 3: Detail about proposed rental space
We chose this location because XVNT Road has a high population density,
coupled with its robust infrastructure, public utilities and service offerings,
including a two-way road, and adequate traffic system. In addition, it links to
major transportation routes, such as 2/9, Duy Tan, Phan Dang Luu, and Bach
7
Dang Streets, as well as the Tran Thi Ly and Tien Son bridges, ensuring a
steady stream of potential customers. The road's proximity to several high
schools, universities, educational institutions such as Nguyen Khuyen
Secondary School, the St. Nicholas School, University of Foreign Language
Studies, Dong A University, Architecture University, etc. Hence, a lot of
people can pop in on our food shop for eating out together or celebrating a
party. Grill and hotpot, furthermore, are popular with the young and families
with kids. Parents can take their children to our food shop on weekends. These
factors make it an attractive location for businesses and easily accessible to a
wide variety of customer groups, for both locals and tourists. With this location
advantage, we believe the food shop can quickly capture attention and
establish a stable customer base from the grand opening.
-
Promotion:
 Advertising:
Utilize social media (Facebook, Instagram, TikTok) to create
engaging content and consistently communicate the brand story.
Videos and posts not only promote the food shop but also document
the journey from concept to decoration and operation.
Create a fan page with regular updates on promotions and customer
reviews.
 Promotional programs:
Grand opening discounts, free soft drinks for bills over a certain
amount.
Loyalty programs: Points accumulation or vouchers for repeat
visits.
These promotional methods are chosen because they are widely used and
easily accessible to the target audience, especially young people. Using social
media platforms like Facebook, Instagram, and TikTok allows the food shop
to create appealing content, quickly spread the brand, and attract attention
through food videos or fun challenges. Promotional activities such as grand
8
opening discounts or loyalty programs not only attract initial customers but
also build long-term engagement.
2. Customer:
Our target customers are young people, especially students and families.
We choose this group because this group is abundant and has a high demand
for outdoor dining experiences, especially grill – hotpot models. They
frequently gather with friends and colleagues and prefer places with
reasonable prices, suitable for their income. Additionally, this demographic is
dynamic and actively uses social media, making brand promotion and
outreach easier and more effective. With affordable pricing, our food shop
meets their spending needs while offering high-quality experiences, ensuring
satisfaction and attracting a stable customer base.
In addition, families often consist of multiple generations with different dining
preferences, making it challenging to choose a food shop. However, grill hotpot food shop is an ideal choice, catering to the diverse needs of family
members. Moreover, grill and hotpot dishes require time to savor, creating a
perfect opportunity for everyone to slow down, converse, share, and enjoy
bonding moments together. This is precisely what the food shop aims for: to
create a space for reunions and strengthen family connections through every
meal.
3. Competitor:
Our competitors include Nhắng Nướng, Chú Bi, and Lẩu Nướng Anh Em,...
These competitors target young customers, mainly students and workers, who
have a high demand for outdoor dining experiences. Their pricing is suitable
for this demographic, making them highly appealing in the market. Their main
product is grill - hotpot – a popular, non-seasonal dish that ensures stable
revenue. Additionally, they focus on creating a fun, friendly dining experience
ideal for gatherings with friends or family.
To stand out, we emphasize the quality and freshness of our products, ensuring
daily preparation to deliver the best culinary experience. Our dishes are lightly
seasoned, allowing customers to enjoy the natural freshness of each ingredient
9
fully. Notably, we offer a complimentary shaved ice bar, adding a fun and
attractive element to the dining experience, especially for young customers.
Furthermore, we build a consistent brand image by sharing the journey of
turning the food shop idea into reality, showcasing how ingredients are
prepared, and addressing customer feedback. All these efforts differentiate us
and reinforce our commitment to quality and service.
Business plan:
IV.
1. Vision:
Within 5 years to come, we aim to open a chain of restaurants in several places
in Danang city for interactive dining experiences among local residents and
tourists, appearing in famous food streets (like An Thuong walking street,
Bach Dang street, etc) where people gather to have a party, meet up, celebrate
flavors, exchange culture, and connection.
2. Mission:
Food shop “Gathering” is always ready for preparing delicious and flavor
meals using fresh ingredients.
Our mission is to provide a space where visitors not only have a chance to
discover/enjoy flavours in each delicious, tasty, nutritious, fresh, hygienic
dish/course with affordable prices but also dive into the atmosphere full of
happiness, smiles, and emotions after stressful school or work hours.
3. Objective:
We aim to serve about 100 guests per day, for example, domestic and
international travelers, students, workers and commuters. With a view to
earning approximately 15 million VND/day, 450 million VND/month. After
subtracting all the costs that arise during the operation, the profit is likely to
reach 80 million VND/month.
4. Business process:
The procedure is divided into three main phases: before, during and after
serving.
a) Before serving (5 a.m – 10 a.m):
-
Morning (5 a.m – 7 a.m):
10
Shopping (5 a.m – 6 a.m): go to the market and buy fresh ingredients, meat,
fish, etc ensuring quantity and quality. As for additives, tools, buy for a
wholesale and have them be delivered to the food shop.
Preparing kitchen (6 a.m – 7 a.m): clean the kitchen. Check for necessary
kitchen tools and equipment, the human resource (how many chefs, cooks,
waiters, waitresses,…).
Preparing before cooking/ Precooking (7 a.m – 8 a.m): Wash, cut, chop, slice,
and marinate vegetables, meat, and seafood.
Preparing the dining zone (8 a.m – 9 a.m): Spread the tablecloth, arrange
tables, chairs in a tidy order, arrange bowls, cups, chopsticks and other cutlery
tools.
-
Late morning (9 a.m – 10 a.m):
Rechecking necessary ingredients, tools and equipment for preparation.
Preparing hotpot soup in a given cooking recipe, marinating with spices.
b) Serving (Opening time 10 a.m – 2 p.m and 4 p.m – 11 p.m):
-
Opening gate, sweeping the floor, waiting for diners.
-
Welcoming the diners and receiving orders (note clearly the food chosen,
quantity, any special requirements.). If the customer(s) has/have
reserved/booked the seat, take them to the right location.
-
Giving order to the kitchen area so that the chef can start preparing and
cooking.
-
Bringing water bottles, wet tissues for the customers.
-
Serving the required course. Dealing with any issue that may arise.
c) After serving:
-
Printing the bill.
-
Receiving payments and Returning changes if any.
-
Customers leaving the food shop.
* Break time and closing time: Temporarily stop serving guests.
-
Staffs:
 Clean tables and chairs, dining area, sweep the floor, and empty the
bin.
11
 Clean the kitchen and Wash cooking utensils, dishes, cups, cutlery.
 Inventory remaining raw materials. Check for any out-of-stock.
 Marinate the evening grill dishes, hotpots.
 Prepare ingredients for the next day.
5. Human resources:
-
Managers: be responsible for supervising the tasks of other departments
and managin finance.
-
Waiters/waitresses: welcome guests, receive order, order, and serve the
dishes. Support the customers in case there is any issue.
-
Kitchen-based staff (chef, cook, cleaners, dishwashers): conduct the
assignment in the kitchen, from preparing, washing, processing,
cooking…to planning menu, checking inventories, processing wastes.
-
Logistics department: cleaning and sweeping, guarding and protecting
personal assets of customers, fixing and maintaing equipment and
machinery, internet, lighting, etc
-
Marketing department: develop innovative and unique ideas, implement
marketing strategies, promote products, and seek new customers. Operate
on both online and offline platforms to enhance brand development.
Getting finance:
V.
-
Cost of starting up: Below are the costs required for us to start our business.
First, we need to invest in infrastructure, including renting premises,
decorating the space, and purchasing equipment for business operations.
Next, there are costs for raw materials, personnel, and other operational
expenses such as electricity, water, and internet. Additionally, we need to
allocate a budget for initial marketing campaigns to attract customers and
build the brand. All these costs have been carefully calculated to ensure a
solid start and achieve long-term development goals.
12
Figure 4: Initial startup costs
-
Estimated revenue: We estimate that the company’s monthly revenue will
reach approximately 450 million VND. After deducting fixed costs and
variable costs, we expect to generate an average monthly profit of around
80 million VND. This figure reflects the efficiency in cost management as
well as the ability to maintain stable business operations. We believe that
with the right development strategy and continuous effort, profits can
continue to grow in the future.
Figure 5: Estimated monthly cost
Build a customer base:
VI.
Here are the methods we will use to build our customer base:
-
Utilize Social Media
Facebook:
 Create a fanpage for the hotpot food shop.
13
 Regularly post about dishes, promotional programs, and events.
 Create trending videos on TikTok to post on Facebook to attract
customers.
 Create interactive posts such as mini-games or surveys to increase
customer engagement.
 Use Facebook ads to reach potential customers, targeting by age,
interests, and geographic location.
Instagram:
 Share appealing images of dishes, the restaurant's atmosphere, and
happy moments of customers.
 Use Instagram Stories and Reels to create rich content, such as
introducing new dishes, showing how to cook hotpot at home, or
live streaming special events.
 Encourage customers to check-in and tag the food shop on
Instagram to create a viral effect.
Zalo:
 Create an official Zalo account for the restaurant.
 Use Zalo to send promotional messages, event notifications, and
update new menus.
 Directly interact with customers via Zalo chat.
-
Run Online Advertisements
Google Ads:
 Run search ads to reach customers when they search for keywords
related to the food shop.
 Run display ads to promote the food shop on high-traffic websites.
Facebook Ads:
 Create ad campaigns targeting geographic locations, age groups,
and interests to attract customers around the food shop area.
 Use engaging ad formats such as video, carousel, and animated
images to grab attention.
14
-
Create Quality Content
Video:
 Create videos showing how to eat, share customer reviews, or
showcase the food shop's atmosphere.
 Upload videos on YouTube, Facebook, Instagram, and the food
shop’s website to reach more customers.
Blog:
 Write blog posts about hotpot dishes, dining experiences, or
customer success stories.
 Share blog posts on the website, social media, and in email
newsletters.
-
Organize Events and Promotions
Special Events:
 Organize events such as grand opening discounts or customer
loyalty programs.
 Promote events through social media, emails, and at the food shop.
-
Interact and Respond to Customers
Quick Response:
 Always listen and respond to customer feedback on social media
and review sites like Foody and Google Maps.
 Address complaints and suggestions professionally and promptly.
Build Relationships:
 Interact warmly and enthusiastically with customers to build trust
and loyalty.
 Send birthday greetings or other special occasion messages to create
a connection.
-
Partner with Delivery Apps
Collaborate with Grab Food, Shopee Food, Ahamove,...
 Register the food shop on delivery apps to expand sales channels
and reach new customers.
15
 Offer special incentives for customers ordering through the app to
attract more orders.
-
Evaluate and Adjust
Track Effectiveness:
 Use analytics tools like Google Analytics, Facebook Insights, and
CRM tools to track the effectiveness of marketing campaigns and
customer base building.
 Measure metrics such as customer traffic, conversion rates, and
revenue from different marketing channels.
Adjust Strategies:
 Based on analysis results, adjust marketing strategies to optimize
effectiveness and meet customer needs.
 Always monitor new trends in the industry and update strategies to
stay competitive.
VII.
Conclusion:
We are constantly striving to provide our customers with delicious meals
prepared from carefully selected, high-quality ingredients that ensure food
safety and freshness. Alongside that, we aim to offer our dishes at reasonable
prices, catering to a wide range of customers, from those seeking a cozy family
dining experience to those who enjoy unique culinary adventures. Importantly,
we focus not only on the quality of our food but also on creating a warm,
inviting, and comfortable dining space where customers can feel the care and
sincerity in every detail.
With dedication and effort in every aspect, we believe this is not merely a
business project but an opportunity to establish a distinctive culinary brand
capable of capturing the hearts of diners. We hope this project will pave the
way for sustainable growth, addressing current market needs while
contributing to shaping future culinary trends. By combining quality, value,
and experience, we aspire for this project to achieve great success, bringing
16
benefits not only to the business but also to the community and the customers
we serve.
17