ATTESTATION OF AUTHORSHIP I hereby declare that this submission is my own work and that, to the best of my knowledge and belief, it contains no material previously published or written by another person except that which appears in the citations and acknowledgements. Nor does it contain material which to a substantial extent I have submitted for the qualification for any other degree of another university or other institution of higher learning. Signature of the candidate: Phạm Đức Hùng ___________________________________________________________________________ Acknowledgement I will not be able to finish this project without the support. So I want to thank the following people for taking the time to help and inspire me during this project.
2 Next, I want to express my heartfelt gratitude to my mentor-Mr Ha Quach. During the project he delivered very detailed feedback and advice. Without his help I could not complete the project My heartfelt thanks to Dr. Rob Lock, Le Hoang Anh, Tran Vi Nghiep, Nguyen Minh Hao, Ngo Kim Loc for providing the project with a lot of useful information.
Special thanks to my parents, my siblings and my beloved boss, who loved and cared for me all the time. Finally I thank myself, Pham Duc Hung, for overcoming the depression to finish this project. Very good job, gentleman! 3 Table of Contents CHAPTER 1: INTRODUCTION .4 Major technologies & facilities required……………………………………………………….5 Key value customers & stake holder group …………………………………………………. 6 CHAPTER 2: ECONOMIC ENVIRONMENT .3 Historical and future trend……………………………………………………………………………….
19 CHAPTER 3: MARKET SEGMENTATION AND RESEARCH. 34 CHAPTER 4: OPERATIONAL EFFICIENCY .1 Business structure & governance…………………………………………………………………….2 Business operational planning ………………………………………………………………………… 38 4. 48 CHAPTER 5: SALES & MARKETING .3 Marketing mix (7Ps) ………………………………………………………………………………………… 55 CHAPTER 6: FINANCIAL OVERVIEW .2 Five years revenue forcast ……………………………………………………………………………….4 Cash flow forecasts ………………………………………………………………………………………….6 Payback analysis ……………………………………………………………………………………………… 72 CHAPTER 7: EVALUATION OF PROPOSAL. 78 CHAPTER 8: EXECUTIVE SUMMARY .1 Business concept The business concept is inspired by Tempus Fugit restaurant at JW Marriott Phu Quoc where I have worked for 4 months.
In the middle of the restaurant, there is the open kitchen. The chef and Pho making machine will be shown to the guests. The wall will be decorated by the pictures of Pho history. There are plants and flower to bring fresh and clean air to create relax feeling for guests before go to work or school.
Of course, we sell Vietnamese foods by Vietnamese people. The concept should be much familiar to Vietnamese cultural as we can because the restaurant is located at District 2 where the citizens eat Pho as a casual food for breakfast. We try to make the beef stork to suitable with foreigners and Vietnamese people taste. We also serve many kind of beef meat to satisfy the guest demand.
At the super hygiene Pho restaurant, we follow the main criteria: hygiene – homemade – eco-friendly. We bring the guests to the most convenient and hygiene environment to enjoy the iconic traditional Vietnamese food.2 Products & services There is a length of Pho revolution, it was found and shaped in the early 20th century. The first places in Viet Nam made Pho are Ha Noi capital and Nam Dinh province where famous for this national food. Regarding the origin of dish, there was a view that Pho have been originated from a Cantonese dish “Beef Noodle”.
Another hypothesis, Pho have come from France made by French beef stork “Pot-au-feu” combined with spices and herbs in Vietnamese cuisine. In 1939, chicken pho was released because there was not any beef for sell on Monday and Friday. There was not clear why this incident was occurring, but perhaps an indispensable cause that problem because slaughter was restricted during feudalism. Cows and buffalo were the main force for Vietnamese agriculture.
Pho is a combination of flavours. In the bowl of noodles contains 18-20 kinds of foods of animal origin and natural plants. The most special thing in pho is that the ingredients are used almost in its original state and work in harmony to create a unique taste, strange, delicious, easy to digest. Although Pho is often known as a nutritious dish for breakfast, but aims to turn Pho into a dish that is not only nutritious but also extremely convenient, customers can enjoy delicious Pho at any time of the day, so my Pho restaurant is open from 06:00 to 22:00 daily.
There are many kinds of Pho that will give more options for the guests to choose and make 6 the best experience. So the main material of a Pho bowl is noodle, stork and meat. But there are many kinds of beef from different part of the cow. We based on the demand of our customers to choose the best quality of beef to make Pho.
In traditional, we have Pho tái (medium beef), Pho thập cẩm (mixed beef), Pho bò viên (meat ball), Pho nạm (fully cooked). Besides traditional Pho, we also serve vegetarian Pho and American beef Pho. In the drink menu, there are full kinds of drink to give our guests energy for an active day such as soft drinks, smoothies, coffee and tea. We believe our training progress for our staff will make our guests interested experience from the first step in the restaurant.
At the super hygiene Pho restaurant, we show our hospitality attitude by greet and welcoming the guests with our Pho passion and positive energy. From experience from many years in five stars hotel, we understand and sympathy what customers need and want and try our best to give better service for our guests.1 Objective - Follow the financial estimates in a 5-year roadmap. What roadmap ? - Although there is not much profit but no loss in the first year. - Starting from the second year, the annual revenue will increase by 5% above.
- After the first year, it might not get return of investment but have to get customer awareness; we would like to become a tourist destination of District 2. - After the second year, we would like to become one of the reasons why people come to Ho Chi Minh City. - After the third year, we would create revenue and capability to build the second concept of the super hygiene Pho restaurant. Cái này đâu phải chỉ objective của finance còn những objective khác của business đâu ? 7 1.2 Mission - We bring to the new trend of Pho style and serve decent meal in civilized space.
(Unclear mussion can not be measured and achived) - No business vision 1.3 Core value - Well-trained staff – Our staff are trained with hospitality attitude to make convenience and friendly for guest - Open space – Our restaurant is decorated to bring the fresh atmosphere - Hygiene – We bring the safety and hygiene standard of food and environment - Traditional Phở taste – We always find the way to make the best taste of traditional Pho - Eco-friendly – We protect our environment by smallest activities such as logistic, cooking, serving and others. Major technologies & facilities required To be able to operate and operate the Pho restaurant, there are many factors related to the necessary technology and facilities. Products brought to the restaurant are delicious, hot Pho bowls, so there are some indispensable items as follows: - Electric Pho cookers: make sure the broth is always kept at the standard temperature, leaving the bowl of Pho to the hottest customers as possible; 8 - Ventilation, air conditioning system: Because Pho is a hot dish, while the main weather in Ho Chi Minh City is hot. Diners should have a cool space to enjoy the food and conditioning blower system is extremely necessary; - Refrigerators, freezers: Food is a perishable item, so the system of refrigerators and freezers to ensure raw materials is always a top priority; - Counters, shelves, cupboards, dining tables, kitchen utensils: are indispensable material elements in restaurants; - Technology: restaurant management software, cash register software, security camera, wifi system, etc.5 Key Value customers & stakeholder group With the super hygienic and environmentally friendly Pho project, my target audience does not depend on demographic factors such as age, gender, occupation, education.
Our main target audience is analyzed based on their taste and eating preferences. SUPER SAI NHE BẠN, ĐỘ TUỔI, THU NHẬP, CÔNG VIỆC SẼ CÓ EXPECTATIONS KHÁC NHAU They are the ones when choosing food that will put the factors: product quality, service quality and food safety and hygiene on top. In addition, the target customers of the project are those who are always looking for convenient and healthy food. We are the new business and we aim for a long term journey.
Stakeholders are the most important element to give us the chance to grow up and develop. Stakeholders are identified as an individual, group or organization who affect or are affected by the project. Stakeholders analyse their expectation and effect to the project. They support us to contribute feasible management strategy for other stakeholders easy to make decision and perform the project.
Besides, stakeholders may always focus on communicate with each other to understand demands and expectation, point out the problem may happen, manage the conflict of benefit, and encourage stakeholders to participate in decision and activities of the project. The satisfaction of stakeholders should be managed as achievement of the project. Internal stakeholder includes Employees, Management team, Founders. External stakeholder includes Suppliers, Government, Local neighbourhood, Local communities, Cooperation.
Unclear key value customers Em ơi em có đọc lại những feedback mà thầy gửi cho em trong lúc hướng dẫn không, 1 ví dụ cụ thể như ở bên dưới không ? 9 Mr.Ha comments on 10.2020 Need to follow the contents for CP timelines 1. Producs & Services Introduction 1.1 Objective, Mission, Core Value 1.1 Objectives (Unclear, Follow S.T to set your objectives) - Find the way to inspire people stay hygiene and eco-friendly - Researching traditional Vietnamese noodle recipe - Estimate financial statement in 5 years - In the first year, it might not get return of investment but have to get customer awareness - From the start of second year, the revenue should be increased by 5% - In the first year, we would like to get acknowledge from customer by marketing and promotion. - In the second year, 1.2 Mission (Unclear) We bring the traditional Pho to our guests in the most hygiene environment 1.3 Core Value Well-trained staff – Our staff are trained with hospitality attitude to make convenience and friendly for guest Open space – Our restaurant is decorated to bring the fresh atmosphere ( open space and fresh atmosphere could also be different) Hygiene – We bring the safety and hygiene standard of food and environment Traditional Phở taste – We always find the way to make the best taste of traditional Pho Eco-friendly – We protect our environment by smallest activities (.?) Reference on creating values: https://builtin.com/company-culture/company-core-values-examples 1.2 Business concept (why did you put it here ?) The business concept was ( why “was” but not “is” ?) inspired by Tempus Fugit restaurant at JW Marriott Phu Quoc where I have for 4 month ?. In the middle of the restaurant, there is the open kitchen.
The chef and Pho making machine will be shown to the guests. The wall will be decorated by the pictures of Pho history. There are plants and flower to bring fresh and clean air to create relax feeling for guests before go to work or school. Of course, we sell Vietnamese foods by Vietnamese people.
The concept should be much familiar to Vietnamese cultural as we can because the restaurant is located at District 2 ( need to briefly tell why District 2 ?) where has many foreigners and Koreans why selling Phở to those people but not the Vietnamese ones ?. We try to make the beef stork to suitable with foreigners and Vietnamese 10 people taste.