environment to enjoy the iconic traditional vietnamese food

CHAPTER 1: INTRODUCTION 1.1 Business concept The business concept is inspired by Tempus Fugit restaurant at JW Marriott Phu Quoc where I have worked for 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 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 1.2 Products & services There is a length of Pho revolution, it was found and shaped in the early 20 th 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 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 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 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 1.3 Business context 1.3.1 Objective - Follow the financial estimates in a 5-year 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 - 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 1.3.2 Mission - We bring to the new trend of Pho style and serve decent meal in civilized space 1.3.3 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 1.4 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; 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… 1.5 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 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 CHAPTER 2: ECONOMIC ENVIRONMENT 2.1 Market condition The F&B industry in Vietnam is very developed with variety of products and services Today, eating is one of the urgent needs of human Due to the development of the economic, labour productivity increase so that people’s income and awareness are increasing The living standards of the people are being improved day by day, leading to the higher demands of the people Instead of meals at home, many people have come with family, friends, customers to restaurants to be able to enjoy special dishes and new dishes that are hard to prepare at home Customers are willing to spend large sums of money to eat delicious, strange and nutritious dishes Vietnam’s population structure is evaluated as a population (60% population is between the ages of 30-40), so the spending capacity is very large More than half of the survey participants in the whole Ho Chi Minh City (63%) and Hanoi (60%) said they had gone to a restaurant for a week 43% of people surveyed in Ho Chi Minh City and 34% in Hanoi said they have ordered food online within the past week However, with the question "Did you cook at home in the last 24 hours?", 75% of people living in Hanoi were asked to answer "Yes", also in Ho Chi Minh City is 67% (GoViet, 2020) About the F&B industry in future, it is not only because of demand but also to show the position of the customers In Ho Chi Minh city, eating or can be called “nhậu” is a culture, they spend much to eat and drink, they enjoy life unlike the North, they use their money to spend on immediate needs such as clothing, tourism, beauty and especially for foods, they not pay much attention to building houses or saving money Therefore, the development of restaurants today is the perfect combination of opportunity and timing That’s why the market for restaurants is very attractive Especially in big cities like Ho Chi Minh City Due to the increasing income and awareness of people, partly because integration and Ho Chi Minh City is a convergence of many Eastern and Western culinary sources, Ho Chi Minh City is an attractive and vibrant market here is sprouting up restaurants with cuisine from other countries, most of which are Japanese and Korean, from traditional dishes to dishes of other countries In recent years, the consumption level of visitors has increased More and more high paying customers choose Vietnam as a destination Therefore, the standardization of catering and shopping services in Ho Chi Minh City will help businesses ensure the quality of service and create a competitive advantage in the market Along with Korean kimchi ramen noodles, Thai spicy noodles, Japanese mushroom soba noodles, Filipino sour soup, Vietnamese beef noodles (Pho Bo Vietnam) are among the best Asian cuisines voted by Buzzfeed According to the description of this website, Vietnamese Pho has a strong sweetness of the broth which is carefully stewed from beef bones The main ingredient in a bowl of is a chewy white noodle cake that is exposed to boiling water, then evenly arranged in a bowl, adding thinly sliced beef, fresh onions and finely chopped herbs on top and then boiling the hot broth into Many news agencies, newspapers, magazines or leading news websites have introduced about PHO as one of the most delicious dishes of Vietnam It is difficult to list all the articles and TV reports from around the world, but diners can temporarily consult from the most famous media companies in the world such as BBC, The Guardian, The New York Times, The Telegraph, UKTV, The New York Times, Food network, AOL, SBS, iFood, And the articles and reports of the media in Vietnam are very much because that is the pride of Vietnamese cuisine According to CNNGo: Vietnamese cuisine is appreciated because it is nothing too complicated Many dishes are very popular both in the luxurious restaurants as well as the street food stalls This real simplicity makes it possible for these dishes to flexibly change according to regional characteristics and the attraction from natural ingredients that make diners stop to explore and enjoy According to the top journalists at CNN (Helen Clark and Karry Miller), PHO is the best dish and top of the list of 40 best dishes of Vietnam Pho has always been a favorite dish of Vietnamese people from past to present Pho goes into literary works Writer Thach Lam once wrote in his book, Hanoi thirtysix streets: “A delicious Pho must be a classic Pho, cooked with beef, clear and sweet broth, soft and crunchy bread, crunchy and crispy fatty meat Lemon chilli with onions all, fresh herbs, north pepper, drops of lemon nuggets have a sharp smell, points more sauce of giant-water-bugs, light as a doubt.” Not only conquering Vietnamese palates, Pho is also praised by world famous politicians such as former US President Bill Clinton, former Senator John McCain However, Pho is very easy to find in Vietnam, diners can eat Pho at any time of the day This is also why Pho is a popular dish in Vietnam District is an urban district located in the eastern part of Ho Chi Minh City, a newly urbanized district where Thu Thiem New Urban Area will be located in the near future; is a new financial and commercial center of Ho Chi Minh City According to the 2015 Statistical Yearbook of Ho Chi Minh City Statistical Office, the population in District is 147,168 After years in 2018, the population of District increased by 11,512 people to 168,680 people And after only one year, on 11 October 2019, the People's Committee of Ho Chi Minh City held a conference to summarize the 2019 Population and Housing Census, the population in District increased by 14,000 to over 182,000 This shows that the population growth in District is very large On the other hand, District is gradually being urbanized with the emergence of new urban areas, so the concentrated population in this area is the young population This factor will greatly influence the decision of the business when choosing to invest in this area, especially in the field of cuisine and specifically Pho 2.2 Economic Conditions Economic conditions are a factor that greatly affects the business performance of the business Therefore, it is essential to analyze the economic conditions of the area when planning business In the process of development and integration, Ho Chi Minh City has always been an economic, financial, commercial and service center of the country; is the nucleus of the southern key economic region, one of the three biggest economic regions in the country Gross Domestic Product (GRDP) in the first months of 2020 in Ho Chi Minh City is estimated at VND 651,607 billion (at current prices) At 2010 comparative prices, it reached VND 465,942 billion, up 1.02% over the same period In terms of economic structure in the early 6-months of 2020, based on current prices, the service and trade sector accounted for 62.6% Revenue from catering and accommodation services in June 2020 has improved, estimated at VND 4,867 billion, up 42.3% over the previous month and down 47.7% compared to the same period last year The high increase compared to the previous month is due to the successful control of disease in Ho Chi Minh City, the people have returned to normal activities as before, the demand for food and shopping increased In addition, the stimulus policy for domestic tourism has a positive impact on the accommodation and eating group In the month, the students returned to study stably, which made the revenue of the catering service increase again The turnover of accommodation and catering services in the early 6-months of 2020 was estimated at VND 29,486 billion, accounting for 4.8% of the total and decreasing by 47.3% over the same period last year In the first months of the year, accommodation and food service industry was affected by the disease, people restrained from travelling and eating out In addition, the food and beverage industry is also affected by the Government's Decree No 100/2019 on penalties for road users whose alcohol content exceeds the regulation The consume price index of food and catering services increased by 0.53% over the previous month In particular, real rice increased by 0.18%, focusing on rice items increased because the Government removed export quotas from May, rice export activities returned to normal, and it is expected that rice price will slow down in the next month The foodstuff group increased by 0.95% over the previous month, in which, the rising of pork led to the increase of pork-processed products, the demand for replacing pork, so the price of beef and poultry also increased Specifically, fresh cattle meat increased by 2.93%, fresh poultry meat increased by 0.66%, processed meat increased by 1.42%, eggs of all kinds increased by 0.26% According to the above statistics, although the food service industry has been seriously affected by the COVID-19 pandemic, due to the effective prevention of epidemic prevention by the Ho Chi Minh City People's Committee, the economy There are signs of clear recovery However, because the disease is still complicated around the world, the recovery and growth rate will still be difficult due to the shortage of revenue from foreign tourists 2.3 Historical and future trend Southern dishes are characterized by sweetness Sugar becomes an indispensable spice in dishes in the South While Pho is a dish originating from Hanoi, the taste of Northern dishes is less sour, less spicy, less sweet Therefore, when Pho was introduced into Ho Chi Minh City, there were other changes, the beef in the noodle was sold in types: cooked, re-cooked, encrusted, bucket, ribbed, beef ball, depending on customers' preferences Pho in the south is served with sweet sauce (black sauce), red chilli sauce, lemon, fresh peppers, coriander, basil, bean sprouts, and thinly sliced onions Pho is usually not as clear as northern pho, but it is slightly opaque, sweeter and fatter In 2018, the F&B market witnessed a remarkable rise in the type of food delivery along with consumer comments about the food that they are using This poses a big challenge for restaurant and restaurant owners to survive and adapt to the market The trend of enjoying food of consumers is gradually shifting and revolves around factors: Convenience, nutritious food, shift from offline to online • Convenience If fast food was introduced into the market and caused fever around 5-7 years ago, the convenience is now redefined, instead of fast processing, canned food customers today desire convenience in the way they enjoy In other words, wherever you are, any time period, when customers' needs are met This has a more positive meaning for both consumers and restaurants The market no longer sees the passivity of restaurants waiting for customers to come and is also a potential opportunity with the current diverse food ecosystem For Pho, customers can eat at any time of the day without having to clearly identify breakfast, lunch or dinner This is a strength in the competition of Pho in the food market • Nutrition The higher the quality of life, the more attention is given to the need to use clean, clear food sources, especially those with nutritional value It is not uncommon for organic vegetable shops to appear and show their influence Consumers are well aware of the need for giving their families clean food The fact that fast food restaurants are no longer in their golden age like before According to statistics, Vietnamese consumers have a higher demand for Vietnamese food instead of fast, processed foods They know that in order to have a healthy body, they need to have a scientific diet As for restaurants, bars, customers need more than a commitment of "our food is clean" According to expert Tessa Nguyen, beef is a great dish because it provides everything the body needs, from healthy carbs to protein and fat The balance between meat, vegetables and broth is the main reason this dish has health benefits In addition to protein, beef in traditional also provides vitamin B, zinc and iron Depending on the type of herbs you use, you may absorb different amounts of fiber and vitamins Beef Noodles (Pho Bo) are the great dish because it provides everything the body needs, from healthy carbs to protein and fat Wendy Bazilian, nutritionist and author of the book Eat Clean, Stay Lean points out, the spices added to this dish also bring a lot of benefits and even noodles offer some Nutrients, including folic acid, vitamin B, potassium, magnesium and selenium Not only nutritious, they also possess great taste that appeals to the senses of diners In general, eating a bowl of is both full and bring many essential nutrients to the body • The transition from offline to online Ho Chi Minh City February 25, 2020 GoViet announced the results of "market survey on consumption of Vietnam's culinary industry" The survey results show that More than 60% of people have a habit of eating in restaurants, More than half of the survey participants in the whole city Ho Chi Minh City (63%) and Hanoi (60%) said 10 6.3 Income Statement Targets Revenue Variable Cost Materials Total 1st year 2.376.000.000 2nd year 2.937.600.000 3rd year 3.024.000.000 4th year 3.175.200.000 5th year 3.585.600.000 717.300.000 717.300.000 884.700.000 884.700.000 908.600.000 908.600.000 956.400.000 956.400.000 1.076.000.000 1.076.000.000 240.000.000 72.000.000 240.000.000 88.800.000 240.000.000 91.200.000 240.000.000 93.330.000 240.000.000 108.000.000 18.000.000 12.000.000 22.200.000 14.800.000 22.800.000 15.200.000 24.000.000 16.000.000 27.000.000 18.000.000 832.000.000 45.600.000 1.026.133.000 45.600.000 1.053.866.670 45.600.000 1.109.333.333 45.600.000 1.248.000.000 45.600.000 12.400.000 12.400.000 12.400.000 12.400.000 12.400.000 60.000.000 60.000.00 1.292.000.000 1.509.933.000 336.700.000 542.967.000 60.000.00 1.541.066.670 574.333.330 60.000.00 1.600.663.333 618.136.667 60.000.00 1.759.000.000 750.600.000 Variable Cost Fix cost Cost rent Electricity bill Water bill Internet bill (telephone) Salary Interior depreciation Equipment depreciation Marketing Total fix cost Profit before tax Corporate income tax (25%) Profit after tax (Annual net profit) ROI 6.4 84.175.000 135.741.750 143.583.332 154.534.166 187.650.000 252.525.000 407.225.250 430.749.997 463.602.500 562.950.000 21.3% 34.3% 36.3% 39.1% 47.5% Cash Flow forecasts (Currency: VND) Y0 Cash flow from operating activities Initial Investment Business production costs Less tax payment Net cash flow during the period - Y1 2.376.000.000 Y2 2.937.600.000 Y3 3.024.000.000 Y4 3.175.200.000 Y5 3.585.600.000 1.184.500.000 - 2.009.300.000 2.394.633.000 2.449.666.670 2.557.063.333 2.835.000.000 - 84.175.000 252.525.000 135.741.750 407.225.250 143.583.332 430.749.997 154.534.166 463.602.500 187.650.000 562.950.000 63 Presumption at beginning of the period Presumption at ending of the period 6.5 (1.184.500.000 ) (1.184.500.000 ) (931.975.000) (524.749.750) (93.999.753) 369.602.747 (1.184.500.000 ) (931.975.000) (524.749.750) (93.999.753) 369.602.747 932.552.747 Breakeven analysis In order to calculate the break-even point in this analysis, certain data are needed, namely fixed costs, product selling prices and variable costs for each product The breakeven point is defined as the time when fixed costs are recovered It only happens when we have the so-called interest on the contribution margin, which is the difference between revenue and variable costs When you divide the fixed cost by dividing the interest on the guaranteed balance, you get a breakeven point Formula to determine break-even point The table below shows the break-even points in the following years: (Currency: VND) Fix cost Y1 Y2 Y3 Y4 Y5 1.292.000.00 1.509.933.00 1.541.066.67 1.600.663.33 1.759.000.00 Selling Price 60.000 Variable Cost 18.000 Break Even Unit 32.300 60.000 18.000 35.950 60.000 18.000 36.692 60.000 18.000 38.111 60.000 18.000 41.880 6.6 Payback analysis 64 Break even Revenue 1.938.000.00 2.157.000.00 2.201.520.00 2.286.660.00 2.512.800.00 From accumulated cash flow, payback period is calculated as below: CHAPTER 7: EVALUATION OF PROPOSAL 7.1 Risks and proposed solutions 65 In the process of operation, the restaurant may encounter some risks, so the author puts forward some risks and countermeasures to overcome these risks The restrictions are as follows: • The risks are probably due to the new restaurant opening, so not many customers come to the restaurant to enjoy the food Measures: Further promote, strengthen marketing and advertise on different channels Depending on the actual situation of the enterprise, an emergency promotion plan can be formulated to attract customers: discount, one get one free, eat to get a drink, give to coupon for next use • Risks of fire and explosion damage Restaurant often use a local stove, so it is easy to be at risk of fire, especially from grease, oil and electrical sources Measures: Take utmost care to ensure the safety of the kitchen area by regularly checking and cleaning Equipping fire prevention and fighting equipment Develop a process to handle incidents of fire and explosion for restaurants • Food spoilage risks The typical risk in restaurant business is food spoilage Preserving ingredients in chillers is essential for restaurants Measures: The restaurants need to have backup power supply system for food preservation system In case of food spoilage, immediate disposal • Food poisoning risks If unfortunately one or more customers get food poisoning from the restaurant's dish Measures: In the unfortunate event that the restaurant will immediately investigate the cause of food poisoning of customers to find a remedy, such as changing suppliers, and taking responsibility compensate customers for related expenses such as health, income from their absence from work • Risks from suppliers 66 If the initial trading period without interest, costs of importing goods, or business operating costs can be difficult Supplier does not owe Measures: Create good relations with suppliers, sign long-term contracts, in which the contract should agree on suitable terms for newly established restaurants.\ • Risks from competitors As a new entrant, the restaurant will have to compete with competitors that appear first in attracting customers Measures: To solve this problem, the restaurant will build appropriate, effective marketing, advertising and marketing strategies At the same time, there are solutions to make a difference and diversify for their products • Risks of strong fluctuations in market prices In the first stage, the restaurant did not have much profit, so if the inputs were too high, it would cause financial difficulties Measures: If the price fluctuates in the short-term, the restaurant will keep the price unchanged from the original price If the price fluctuates for a long-term, the restaurant will maintain the stipulated sales price in advance and accept the reduction of profits to retain customers, then we will gradually raise the price to keep it in line with the market price 7.2 Evaluate socio-economic efficiency 7.2.1 Economic efficiency The business of an eco-friendly restaurant is an economic project, the firstyear profit of VND 250 million This is not a big profit, but it is not small for a newly established restaurant In addition, the members of the group will contribute capital, manage, and business together, so it will reduce staffing costs, the profits will be shared equally among the members, so the members will be encouraged to work enthusiastically 7.2.1 Social efficiency 67 The project provides participating members with an opportunity to draw on their expertise, generate income and experience Provide customers with delicious, affordable and, most importantly, ultrahygienic Pho (rice noodles) to ensure food safety and hygiene and provide healthy food for diners For suppliers: The project contributes to the consumption of products for suppliers, contributes to raising their incomes, helping them to be more motivated to pursue the business of clean, friendly food materials environment and good for consumers' health For the national budget: Through the full tax payment, the eco-friendly noodle shop business project contributes a part to the state budget CHAPTER 8: EXECUTIVE SUMMARY After a relatively complete evaluation and analysis of the market situation, economic environment, demand survey of target customer groups, future cooking 68 trends, identification and analysis of competitors, etc We believe that our business plan is completely feasible and has high economic benefits By choosing product policies as the core of our business, coupled with specific and perfect marketing strategies (Google Adwords, Facebook Ads, YouTube Ads, Tiktok Ads to improve the status of our products in the eyes of our customers), we believe that our products will be well received by our customers and meet or exceed our expectations The feasibility of the project can be seen through income forecast and financial analysis According to calculations, the project will only take one year and six months to recover the funds Compared with the original 509 million Vietnamese dong, the speed of recovering funds is considered quite fast In the context of declining interest rates at banks, with an average ROI of 35,7%, the project shows how worthwhile it is to invest In short, with the future trend of F&B industry development, the eco-friendly Pho restaurant project is a great idea for business and market penetration By putting product quality, food safety and hygiene on top, the restaurant will bring diners a healthy, healthy and convenient food With careful research, preparation and convincing survey data, investors can see the project overview and see the potential of this plan CHAPTER 9: REFERENCE 69 https://www.vietpress.vn/am-thuc-viet-da-dang-hap-dan-va-dam-net-truyen- thong-d73187.html https://nhandan.com.vn/du-lich/cnn-binh-chon-40-mon-an-an-tuong-cua-vietnam-332062/\ http://www.pso.hochiminhcity.gov.vn/web/guest/nam-2020 http://baodansinh.vn/an-pho-dem-lai-loi-ich-gi-cho-suc-khoe22202021322451622.html https://www.go-viet.vn/blog/tin-tuc/goviet-cong-bo-ket-qua-khao-sat-xu- huong-hanh-vi-tieu-dung-am-thuc/ 70 ... restaurant Never seat the customers to keep the table for their group (especially rush hour)  Presenting the menu • Lead customer to the table with the menu on hands • Show the special menu and... Noodle recipes need to be focused on researching to satisfy the majority of customers, so Pho is not too sweet or too salty The North, the South, the West or the Chinese can eat it To create a sense... • • • • The security will greet the guest If they come with a bike or car, security will take their bikes or show them where to park car, give the parking ticket Show them way to enter the restaurant