IKEA investment business plan

IKEA INVESTMENT PLAN 2022 TABLE OF CONTENTS EXCUTIVE SUMMARY COMPANY DESCRIPTION 2.1 Founder & Board 2.2 Product and Service 2.3 Long-term aim of the business 10 MARKET ANALYSIS 14 3.1 Targeted market analysis and valuation 14 3.2 Market outlook in Vietnam 14 3.3 Market trends in Vietnam 17 3.4 Profile of competitors 18 3.5 Competitive advantage, project’s benefits and benefits to clients 18 MARKETING STRATEGY 19 4.1 Segmentations & Targeting 19 4.2 Differentiation and positioning 20 4.3 Value proposition 20 4.4 Marketing mix 21 RESEARCH AND DEVELOPMENT 24 5.1 IKEA and the Ansoff Matrix 24 5.2 Product research and development 25 STAFFING AND OPERATIONS 33 6.1 Management (including Board) Organisation Chart 33 Figure Management Organisation Chart 33 6.2 Staffing 34 6.3 Operations 41 FINANCIAL PLAN 43 SALES PIPELINE 46 8.1 Prospecting customers’ data collection 47 8.2 Customers qualification 47 8.3 Sales call, proposal and negotiation 47 8.4 Close deal 47 8.5 Post purchase 47 FUNDING REQUIREMENT 48 9.1 Total funding requirement 48 9.2 Sources of fund 48 9.3 Fund allocation 49 TABLE OF FIGURES Figure Vietnam’s Predicted market revenue in million USD (2017-2025) 15 Figure Vietnam’s Furniture Market Sales Channels (2017 - 2025) 16 Figure Management Organisation Chart 33 Figure Funding allocation chart of IKEA branch in Vietnam market 49 EXCUTIVE SUMMARY IKEA, the successful Swedish furniture brand, has become a household name not just in its homeland, but also internationally IKEA furnishings inhabit homes around the world IKEA desires to run the business with efficiency in each of the different areas, such as design, distribution, packaging and sourcing It’s all about keeping the costs as low as possible while still selling good quality furniture Purpose of the plan Considering the potential nature, IKEA would promote investment in Vietnamese furniture market This is the report for our business plan to build IKEA brand in Vietnam through a chain of stores in Ho Chi Minh city and marketing strategies as well as innovative developments The products will be made and supplied for Vietnamese customers with affordable prices, fully functional furniture that’s well designed and doesn’t skimp on quality The plan permeates through the business with efficiency in each of the different areas, such as design, distribution, packaging and sourcing Products IKEA designs and sells pre-assemble and ready-to-assemble furniture, kitchen appliances, home accessories, and various other goods and home services IKEA offers a variety of affordable furniture available in different styles that complement your home The Group’s furniture range from bedroom, kitchen, bathroom to outdoor furniture Advantages The IKEA Concept IKEA provides a wide range of well designed, functional home furnishing products that can target every customer The IKEA Concept makes it possible to serve the many that contribute to helping more people live a better life at home Favorable cost position and quality guarantee IKEA offers favorable prices to its customers Price of IKEA includes warranty services to guarantee quality for customers Flexible adaptation IKEA is seen as a retailer that is diligent in balancing its general business environment and consistent business model by adapting to local cultural levels With IKEA, “The life situation creates the need for home furniture” IKEA selects the offer from the life situation to satisfy every need of the customers Flatpacks and self-assembly The feature helps the cost of furniture to fall and inspires customers to make useful products on their own based on given instructions Market opportunity Customer Vietnam’ furniture market is a promising market to invest in as it is forecasted to grow at a rate of 17.35% each year over the next ten years, resulting in a projected market volume of $3,106 million by 2025 In furniture, the number of users is expected to reach 21.7 million by 2025 According to Nielsen, by 2025, Gen Z in Vietnam will account for about 25% of the national labor force, equivalent to about 15 million people IKEA will cater to GenZ and millennials in Ho Chi Minh City, Vietnam, between the ages of 20 and 45 The rising Vietnamese middle-class and small businesses would be a key driver for IKEA’s business in Vietnam Technology The packaging technology system is built to be suitable with IKEA’s diversification of products and to fulfill a lot of different demands In-store logistics personnel technology would be executed to streamline the flow of goods in and out of its stores Ikea Kreativ, a built-in analyzer App, is on the run to help users estimate the size of the furniture virtually Competition IKEA will have to compete with local furniture shops that have gained prominent Vietnamese-brand market share However, Affordable home furniture, Easy for DIY and Sustainable are IKEA’s core values that would differentiate it from other rivals in the market Management team The IKEA Group will be organized in four following Departments: Operation, Marketing, Financing and Commerce Financial projections   Income sources: the company’s revenue is primarily from sales of its products in Vietnam market including 18 main categories Expenses: the company’s expenses is from salaries and wages, equipments and supplies, marketing, R&D and administrative costs They are based on managemnet;s estimates and industry averages Funding requirements The investments of IKEA in Viet Nam market are expected to account for 450 million Euro which will consist of 30% of the investment coming from shareholders, 20% from retained earnings, 30% from cash borrowed from banks, 10% from Debenture, 10% from Trade credit COMPANY DESCRIPTION 2.1 Founder & Board Ingvar Kamprad The Founder of INKEA Supervisory Board Luisa Delgado Chair and Board, Director, Entrepreneur, Investor, Advisor and Mentor Lars-Johan Jarnheimer Chairman Lone Fonss Schroder Director Mark Newton-Jones Peter Kamprad Retail CEO, Chair, Chairman of the board Non-Exec Director Ian Worling Member of the Supervisor Board Tore Bertilsson Professional Board Member and Industrial Adviser Jonas Kamprad Member of the Supervisory Board Management Board Juvencio Maeztu Deputy CEO and Chief Financial Officer Jesper Brodin President and CEO Kurt-Jörgen Olsson General Counsel 2.2 Product and Service IKEA covers product design with innovative home furnishings that are cost effective Providing this outstanding product experience is only made complete by wrapping an amazing service experience around it  Service Design of IKEA The design of the service, not the design of the items, is what made consumers' weekend visits fantastic When done correctly, service design delivers a unified customer experience at all points of contact between the business and the client There were three crucial components that were effective:  Website-store experience integration To discover the precise goods they wish to see in the shop, customers can explore the internet The precise aisle and bin where customers can pick up the item are listed in the product information for the shop where they may look at the item  Self-checkout The bulk of our trips to IKEA were spent browsing the merchandise rather than standing in line because of the store's rapid checkout process The aforementioned features were all a part of a comprehensive service design that aided in enhancing client satisfaction and boosting revenues Customer purchases depend just as much on service design as they on product design We were able to shop in methods that were convenient for us thanks to the IKEA ecosystem Service design will begin to receive more attention than product design, similar to how the user experience industry transitioned from usability to the more expansive subject of user experience It is harder to distinguish oneself in a way that cannot be easily imitated as market rivalry increases A major tactic for differentiating your business is to jointly design the product and service experiences Changing to a holistic strategy for user experience is a difficult endeavor that frequently conflicts with an organization's existing organizational structures However, the consumer can only have a comprehensive business experience when the product and service are combined Organizations must get through departmental hierarchies that might be resistive to this kind of thinking As UX professionals, we should put our efforts into developing service and product interactions that stick in consumers' memories for a very long time  Product Bedroom Furniture Bedroom Furniture is a collection of Wardrobes Beds Chests of drawers & drawer units Bedside tables Mattresses Duvets Bedding Clothes boxes In the conception of bring home owners the comfortable, cozy sensation and the feeling of closeness, Ikea products will satisfy the hardest customers, give people choice to enrich their home feelings and better look through the bedroom collection Kitchen Furniture In order to create the best atmosphere to gather family, have dinner and to talk about one’s days, Ikea is here with 40 years of kitchen experience, giving customers fully customizable options for every cooking need and convenient services from planning to installation Ikea has main kitchen systems to match with anyone’s requirements:  Metod Flexible system: design your own kitchen, many options for styles and fronts, matching appliances, 25 years of warranty  Enhet Create your own combination, easy to assemble and disassemble, 10 years of warranty  Knoxhult - Deliveries between stores and warehouse Marketing - Responsible for all the - Advertising marketing and creative aspects of Social the business 40-50 media marketing - SEO - Marketing materials and posters sourcing - Partnerships - In-store activations and events Finance - Recording operating - Book keeping 20-30 transactions, analyzing procedures them and preparing financial - Preparing Final statements to Accounts inform top - management, management regulators and investors information - Ensuring that internal - Management of mechanisms and wages policies comply with - Raising Finance regulatory standards, industry practices and HR policies 35 Providing Merchandising - Responsible for all the - Buying commercial aspects of the retail - 40-50 Vendor management business - Merchandising - Visual merchandising in stores - Managing lifecycle inventory - Pricing - Markdowns 36 the of Human resources - Hiring employees, - Recruitment maintaining employee - well-being and programmes dismissing employees - when necessary Planning - Handling many tasks - related directly to Redundancy 20-30 Training Manpower Dismissal and employment issues, such as payroll, insurance, benefits and taxes - Staying up-to-date on legal issues affecting employment Staffing estimates Role Responsibilites Compentency (Required Skills) 37 Working Estimated Time Conditions Conditions Commi -tment Manager Makes detailed, - Academic Mainly short-range knowledge and the operating plans skills - Reviews daily and in 5-8 years office and Full time real Leadership market weekly and reports, supervising performance of skills subordinates - - Interpersonal Supervises skills day-to-day - Strategic operations analytical - Makes specific - Ethics task assignments - Maintains close contact with operative employees Supervisor Primary role is - Supervisory In as an observer to skills mission the 3-5 years warehouse ensure that all - Focus setting and store necessary tasks - Transparency are completed in - Realism time with specifications and deadlines 38 Fulltime Executive Perform all tasks - Academic Mainly involved in the knowledge and the in 1-2 years office department in skills related to and store according to department manager’s - instruction skill Fulltime Teamwork - Interpersonal skills Worker Perform all tasks - Basic In involved in the knowledge department: - shipping; skill assembling, - loading Trainee experience time Continuous and improvement Work alongside managers warehouse Full- Teamwork and learning unloading… the No Academic Mainly and knowledge and the in months – Full- office year time accept delegated skills related to and store and responsibilities department part- and duties - time Continuous learning and improvement - Interpersonal skills Training Plans 39 Proposed Business Need Solved Priority Training Resource Planning What training is How will the training help Link needed my company Business to In house, Sale source Strategic Plan Introduction to - Engage new employees in Part work: the working environment, the strategic Environment culture, the operation system plan and Technique and working process - Cross Training of - In-house train - The Trainer – to curriculum improve development capacity - Assistant from - Cross training parent company in for all new hires Sweden in Vietnam - Intensive - Provide them hard skills of Part training Indoor Outdoor training employees working in retail company strategic & - Equip them with specialized plan and professional knowledge for - Promote activities establish regulations, mechanism law for improve education capacity employees, company‟s enforcement along with sanctions with an aim to raising awareness of employess of legal framework 40 of - In-house train - The Trainer – to curriculum development belonging to each department Practice Evaluation & - Evaluate the effectiveness of Part of training program and check strategic the ability and the progress of plan employees as well to improve capacity Working - Establish a mechanism for Creating Human resources environment employees department to give their work-life feedbacks, share the fellings, balance for difficulties, desires with BOD employee 6.3 Operations Infrastructure system a Store and warehouse location To start an IKEA store, rent a space at Crescent Mall - one of the largest and most wellknown malls in Ho Chi Minh City It is located in 101 Tôn Dật Tiên, Tân Phú, District 7, Ho Chi Minh city This area is at the center of Ho Chi Minh city where the popularity is dense We choose Ho Chi Minh city to place a store based on the development of this area and the shopping behavior of citizens here They have a medium to high salary and are always willing to pay much for goods they want We decided not to construct a big IKEA mall in VietNam at the outset since the prime location is no longer available there Additionally, IKEA is still relatively unknown to Vietnamese consumers, so locating a store in a large mall would make it simpler for shoppers to accidentally come across our booth Rent a warehouse at eastside Tan Thuan, located in Ho Chi Minh city We choose this area as this is a prime location It is 5km from the city center and also the official IKEA store in Crescent Mall, 13 km from the Tan Son Nhat international airport and about 2km from VICT deepwater port, Tan Thuan port Therefore, it is very convenient for transporting the products from warehouse to official store or other households, business 41 offices inside and outside Ho Chi Minh city Moreover, the price for renting is more reasonable and convenient than building one b Infrastructure  Warehouse’s furniture and facilities Square: 5000m2, the space is large enough to contain a large quantity of IKEA furniture products All the necessary facilities are provided such as electricity, water and fire protection systems are checked frequently Cameras are a must-have item in the storage Working space is large and comfortable This area has hospital, restaurants to satisfy workers’ needs Therefore, the storage ensures providing the most comfortable and safe space for employees to work  Store’s furniture and facilities Square: 1000m2, the space is large enough to display the best-seller products and the attractive new update products produced only for Vietnamese people The stall is divided into various areas and each is furniture for different categories in a house such as furniture in the bedroom and furniture in living room All the necessary facilities are provided such as electricity, water and fire protection systems are checked frequently Cameras are a must-have item in the store Lights and music is provided in the stores as well, which make sure the store has a friendly and most comfortable atmosphere Delivery system Delivery system is including 100 trucks always preparing to deliver large quantity products to household/ company and official store for displaying around Ho Chi Minh city and other areas in VietNam Production and service system 42 The raw materials are transported from foreign suppliers to the factory placed in Vietnam then manufactured and packaged into end products, which will then be transported to a warehouse in Tan Thuan The products stay there until the official store needs samples to display or the products will be delivered directly to the customer's house/ business office, Market and supplier partner IKEA is a newcomer to the Vietnamese market and has a wide range of competitors, such as Baya, Pho Xinh, Nha Xinh, IKEA must thus collaborate with a Vietnamese marketing team and refer to goods from handicraft workshops in Vietnam in order to update its offerings to suit the psychology of Vietnamese consumers In order for Crescent Mall to be willing to provide a prime location for rental with complete working facilities to an official store, it is vital to have a solid working connection with them Regarding the warehouse, it is important to import finished products or materials from IKEA factories in China rather than only from factories in Vietnam This is due to the manufacturer in Vietnam's inability to rapidly produce goods in the event that demand is too high The replacement source will then be the IKEA factory in China FINANCIAL PLAN Key assumption   Revenue: the center’s revenue is derived primarily from the sales of its furniture products in the Vietnam market, including 19 major categories Revenue projections are based on the 2022 sales of IKEA and based on the industry averages Expenses: the center’s expenses are mostly rent, salaries & wages, equipment and materials, marketing, R&D, and administrative costs The expenses are based on management’s estimates and industry averages Break-even Analysis Gross Margin % of Sales Gross Margin Total Sales $111,433,933 $164,550,600 43 Gross Margin/Total Sales 67.7% Total Fixed Expenses $3,869,905.00 Payroll $45,734,875.93 Operating Expenses $49,604,781 Operating + Payroll Breakeven Sales in Dollars (Annual) 67.7% Gross Margin % of Sales $49,604,781 Total Fixed Expenses Yearly Breakeven Amount Monthly Breakeven Amount $73,249,649 $6,104,137 Profits & Loss accounts Year Year Year Revenue Gaming furniture $14,350,000 $17,220,000 $19,803,000 Sofa $45,050,000 $54,060,000 $62,169,000 Furniture sets $18,550,000 $22,260,000 $25,599,000 Tables & Desks $21,000,000 $25,200,000 $28,980,000 Display Cabinets & storage systems $1,600,000 $1,920,000 $2,208,000 TV Console, Stands & Cabinet $4,800,000 $5,760,000 $6,624,000 Chest of Drawers & Drawer Units $4,800,000 $5,760,000 $6,624,000 Wardrobes $4,800,000 $5,760,000 $6,624,000 Chairs, Stools & Benches $4,800,000 $5,760,000 $6,624,000 Outdoor furniture $4,800,000 $5,760,000 $6,624,000 Sideboards, buffets & console tables $4,800,000 $5,760,000 $6,624,000 Children's Furniture $4,800,000 $5,760,000 $6,624,000 Room dividers $3,000,000 $3,600,000 $4,140,000 Trolleys & kitchen islands $3,000,000 $5,580,000 $6,417,000 Bar Tables & Chairs $4,800,000 $5,760,000 $6,624,000 Armchairs & Chaise Longues $4,800,000 $5,760,000 $6,624,000 Café Furniture $4,800,000 $5,760,000 $6,624,000 Nursery furniture $4,800,000 $5,760,000 $6,624,000 Bookcases & Shelving Units $4,801,800 $1,920,720 $2,208,828 $164,151,800 $117,460,000 $135,079,000 Total Revenue Cost of Goods Sold Gaming furniture $4,783,333 Sofa $5,740,000 $6,601,000 $15,016,667 $18,020,000 $20,723,000 Furniture sets $6,183,333 44 $7,420,000 $8,533,000 Tables & Desks $7,000,000 $8,400,000 $9,660,000 $533,333 $640,000 $736,000 $1,600,000 $1,920,000 $2,208,000 $15,016,667 $1,920,000 $2,208,000 Wardrobes $1,600,000 $1,920,000 $2,208,000 Chairs, Stools & Benches $1,600,000 $1,920,000 $2,208,000 Outdoor furniture $1,600,000 $1,920,000 $2,208,000 Sideboards, buffets & console tables $1,600,000 $1,920,000 $2,208,000 Children's Furniture $1,600,000 $1,920,000 $2,208,000 Room dividers $1,600,000 $1,200,000 $1,380,000 Trolleys & kitchen islands $1,000,000 $1,860,000 $2,139,000 Bar Tables & Chairs $1,000,000 $1,920,000 $2,208,000 Armchairs & Chaise Longues $1,600,000 $1,920,000 $2,208,000 Café Furniture $1,600,000 $1,920,000 $2,208,000 Nursery furniture $1,600,000 $1,920,000 $2,208,000 Bookcases & Shelving Units $1,600,000 $3,841,440 $4,417,656 Display Cabinets & storage systems TV Console, Stands & Cabinet Chest of Drawers & Drawer Units Total Cost of Goods Sold $68,133,333 $68,241,440 $78,477,656 Gross Margin $70,233,333 $117,460,000 $135,079,000 Payroll Operating Expenses $3,869,905 $4,517,825 $5,701,179 $2,000,000 2,200,000 2,640,000 Car and Truck Expenses $96,000 98,880 101,846 Commissions and Fees Contract Labor (Not included in payroll) $60,000 63,000 66,150 $12,000 12,360 12,731 $120,000 123,600 127,308 $24,000 24,720 25,462 $0 - - $60,000 63,000 66,150 $0 - - $9,600,000 9,600,000 9,600,000 $24,000 25,200 26,460 $7,000,000 7,210,000 7,426,300 $36,000 37,080 38,192 $6,000,000 6,180,000 6,365,400 $120,000 123,600 127,308 $25,152,000 $25,761,440 26,623,307 Advertising Insurance (other than health) Legal and Professional Services Licenses Office Expense Rent or Lease Vehicles, Machinery, Equipment Rent or Lease Other Business Property Repairs and Maintenance Supplies Travel, Meals and Entertainment Utilities Miscellaneous Total Expenses Income (Before Other Expenses) $80,412,628 $100,441,455 $118,004,342 Other Expenses Net Income Before Income Tax $26,852,876 $26,082,572 $25,259,842 $53,559,752 $74,358,883 $92,744,501 Income Tax $1,056,000 $24,718,680 $26,494,060 Net Income $54,503,152 $49,640,204 $66,250,441 Balance sheet 45 ASSETS First Year Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Other Initial Costs Second Year Third Year 56,996,033 16,200,180 10,000,000 29,430,000 27,000,000 102,916,600 30,972,720 10,000,000 26,160,000 24,000,000 161,351,239 48,879,348 10,000,000 22,890,000 21,000,000 $139,626,213 $194,049,320 $264,120,587 - - - Real Estate Buildings 30,000,000 30,000,000 30,000,000 Leasehold Improvements 10,000,000 10,000,000 10,000,000 Equipment 30,000,000 30,000,000 30,000,000 Furniture and Fixtures 30,000,000 30,000,000 30,000,000 Vehicles 20,000,000 20,000,000 20,000,000 53,450,000 53,450,000 53,450,000 $173,450,000 $173,450,000 $173,450,000 $15,845,000 $31,690,000 $47,535,000 $299,230,612 $337,808,720 $392,034,986 5,950,600 6,880,600 7,672,600 Total Current Assets Fixed Assets Real Estate Land Other Total Fixed Assets (Less Accumulated Depreciation) Total Assets LIABILITIES & EQUITY Liabilities Accounts Payable Commercial Loan Balance 44,447,615 38,434,384 31,922,058 Commercial Mortgage Balance - - - Credit Card Debt Balance - - - Vehicle Loans Balance 5,789,826 3,974,172 2,046,532 Other Bank Debt Balance 8,539,420 4,376,209 (0) - - - $64,727,460 $53,665,364 $41,641,190 180,000,000 180,000,000 180,000,000 54,503,152 104,143,356 170,393,797 - - - $234,503,152 $284,143,356 $350,393,797 $299,230,612 $337,808,720 $392,034,986 Line of Credit Balance Total Liabilities Equity Common Stock Retained Earnings Dividends Dispersed/Owners Draw Total Equity Total Liabilities and Equity SALES PIPELINE 46 8.1 Prospecting customers’ data collection IKEA targets young and cost-conscious customers who are usually students or young adult professionals For instance: Young people with middle- high income; People pursue minimalism; People who click on the advertisement; Newly married people; People interested in products through communication channels, marketing Their salary ranged between $15000 and $50000, they are most likely budget-conscious families whose lifestyle makes them first-time shoppers of furniture Sources: vinhomes residents’ data, KOLs, Social media influencers,… 8.2 Customers qualification Applying filters of target market categories: Demographics, geographic, behavioral,… to classify potential customers into specific groups Proper approach will then be developed for each groups for better conversion rate 8.3 Sales call, proposal and negotiation  Appointment set: Contact and work with selected customers through the following forms: face-to-face meeting, online consultation, telephone consultation  Appointment completed: They showed up to the meeting, and you confirmed the next steps  Solution-proposed: The customer is interested in using products to solve their pain point or capitalize on their opportunity In addition, introduce more suitable products that can solve the problems that customers are facing  Proposal sent: The buyer reviews the proposal or contract 8.4 Close deal Contract signing: Make signing the contract simple by using an e-signature service that allows your soon-to-be-customer to sign and upload from anywhere 8.5 Post purchase Make sure to give new customers the unforgettable experience Customer care provides attentive service during implementation and regular monitoring of the account’s progress At the right times, customer care department will cross-sell existing customers on new services and upsell them on premium solutions 47 FUNDING REQUIREMENT 9.1 Total funding requirement Although IKEA Corp is regarded as one of the largest furniture corporations in the world, it is still a relatively unknown name to the Vietnamese customers.Therefore, to conquer the market in Vietnam of IKEA, the success of this project is extremely important According to the initial estimate made when investigating the Vietnamese market, The investments of IKEA in Viet Nam market are expected to account for 450 million Euro By carefully researching, we figure out 450 million dollars is actually a reasonable number On one hand, by investing in Vietnam, we must accept various hazards that may arise in the future due to the unfamiliarity of IKEA to Vietnamese and the difficulty to change Vietnamese people's consumption patterns in a short period of time On the other hand, as Vietnam is a good potential market, we can easily attract the funds from other investors 9.2 Sources of fund All the funding requirements are expected to be gained from “ External and Internal investors”  Internal investors Shareholders equity Because Shareholder equity is the most abundant and sustainable financial source of a business, most of the investment money is taken from this source Besides, the success or failure of a market directly affects the profit of these shareholders Although there are many risks when entering a new market, Vietnam is still a large potential market so shareholders may agree to invest about 135 mil Euro, equivalent to 30% of total IKEA’s investment in the Vietnam’s market Retained Earnings Like shareholder equity, retained earnings is also one of the sources of investment money worth considering, as it is a risk-free source of money However, as retained earnings directly affect the interests of shareholders, the amount of money invested should be considered reasonably Therefore, the amount decided to invest is 90 million Euro, equivalent to 20% of the total investment in the Vietnamese market 48  External investors Banks Banks should be used to finance 30% of the overall project costs Because IKEA is a foreign firm, consistent flows of dollar cash are highly valued, and they should be prioritized As a result, we want to obtain long-term financing from Vietcombank, Viettinbank, and Eximbank Despite the fact that the interest rates at these institutions are high, the cash borrowed from banks total just 135 million Euro Debenture Since IKEA is the oldest and largest group of furniture in the world, for Debenture - a practical alternative guaranteed by the publisher's reputation - iKEA here in particular Therefore, about 45 million Euro is expected to be borrowed through this method Trade credit IKEA has always had a close cooperation relationship with furniture factories in Vietnam.Therefore, about 45 million Euro is expected to be borrowed through this method 9.3 Fund allocation Figure Funding allocation chart of IKEA branch in Vietnam market 49 ... furniture Purpose of the plan Considering the potential nature, IKEA would promote investment in Vietnamese furniture market This is the report for our business plan to build IKEA brand in Vietnam... of the business As the first IKEA branch in Vietnam, 100% equity is directly invested by the IKEA Group with human resources including key staff who are transferred from the IKEA group IKEA Group... Training Plans 39 Proposed Business Need Solved Priority Training Resource Planning What training is How will the training help Link needed my company Business to In house, Sale source Strategic Plan