business plan start up p yippee one thoughtful gift at a time

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8.1

INTRODUCTION

In today’s society, finding the perfect present can be a difficult task since everyone wants to give thoughtful yet economical gifts Understanding this trend, we - YIPPEE aims to turn ordinary gifting into extraordinary experiences by organizing a niche and delightful selection of gifts for everyone on every occasion

As a company in its first year of operation, we are focused on building a strong online presence, forming a loyal customer base within Ha Noi, and creating efficient operational processes Our long-term vision is to expand our reach to other cities, becoming the go-to destination for thoughtful and memorable gifts.This business plan outlines our company's mission, target market, competitive landscape, marketing and operational strategies, financial projections, and growth plans We are confident that YIPPEE is well-positioned to capitalize on the growing demand for unique gifting experiences

1 EXECUTIVE SUMMARY: 1.1

Structure:

Board of Directors

Products and services :

to our services, we provide gift Gift Budget Management and Gift Registry Services

1.5 Market overview: 1.5.1 Market Potential:

— Intense competition with similar businesses 4

— Seasonal sales fluctuations require strategies for off-peak periods — Evolving consumer preferences demand adaptation (unique, eco-friendly

gifts)

— Economic downturns can impact gift spending

— Sustainability concerns necessitate focus on eco-friendly materials and

processes

Yippee aims to leverage these opportunities by offering personalized, eco- friendly gift options and niche services while navigating the challenges through strategic planning and adaptability

1.5.2 Market Trends:

The market is experiencing moderate growth, driven by factors like a steady gift-giving culture, increasing tourism, and a rising demand for personalized and unique products However, it faces challenges from online marketplaces, economic fluctuations, and shifting consumer preferences

1.6 Management team introduction:

Name Role Responsibilities

Ms Ta Thu CEO - Develop strategies and make high-

- Supervise managers

Mr Nguyén Vice C.E.O - Help CEO in managing and

Ms Pham Finance and Accounting | - Financial management, budget,

- Supervise accounting and tax activities

Mr Pham Human Resources and | - Human resource management, Minh Nguyén | Administration Manager | recruitment, training

- Supervise administrative work and office support

8| Ms Nguyễn Warehouse - Manage the company's inventory

Thi Khanh Management Manager | (quantity of imported and sold

1.7 Expected capital and financial results

Our anticipated capital is 250 millions VND, contributed equally by 8 members within the company (approximately 32 millions VND/ member) We expect to run business operations solely with this capital and refrain from seeking loans from financial institutions

Regarding the projected financial results, we predict to reach approximately 1.3 billions for the first year of running business with 4,350 gifts 2 Company introduction:

2.1 Company Mission:

"Delivering smiles, one thoughtful gift at a time.”

At Yippee, we understand the importance of a well-chosen gift and also the headache of having to choose from countless options for the perfect gift that shows your appreciation

Our core mission is to listen, to understand, and to offer personalized support Our team of consultants will participate in the consultation process to grasp your specific gifting needs and preferences We then determine the ideal choice for the receiver based on your inputs while taking your finances into account We believe everyone deserves the chance to give a truly meaningful gift, no matter the occasion

2.2 Scale:

We are a newly established, small-scale gift provider currently serving in Ha Noi Our operations are primarily online, allowing us to focus on curating a unique product selection and providing personalized customer service We plan to expand our reach to other cities in the coming years

2.3 Location:

We decided to locate our company at 44 Minh Khai, Hai Ba Trung District, HaNoi because we want to attract more customers and gain a higher profit

2.4 Company capacity: Core Competencies:

— Our core competencies include a robust diverse sourcing capability and the ability to stay ahead of market trends Additionally, we pride ourselves on our exceptional gift consultation and solution recommendation services Our team of professional gift consultants is dedicated to advising and recommending suitable gift solutions that align with our customers’ specific needs and budgets

Human Resource Capacity:

— Our company boasts a team of seasoned consultants with extensive experience in psychology We are committed to supporting each other unconditionally, fostering a collaborative environment that enables us to provide the best possible support to our clients

Financial Capacity:

— We pride ourselves on being financially independent, unencumbered by the burden of bank loans This allows us to maintain our autonomy and make decisions that are in the best interests of our clients, rather than being driven by the need to service debt Our financial stability enables us to focus on what matters most - providing exceptional service and support to those who need it

3 Market Analysis (PEST): 3.1 Political factors:

Political factors refer to the government policies, regulations, and stability that influence a business It is essential to have a stable political climate and legal protection for corporate rights Peace and prosperity are fostered in Vietnam through political stability and a hospitable economic environment

The Vietnamese government has released a number of business- supporting measures in response to the need to reconsider the tax laws, trade agreements, and consumer protection laws All of these changes have been well received by the community and businesses

3.2 Economic factors:

Economic factors refer to the macroeconomic conditions, trends, and indicators that affect an online service business The Vietnamese economy has grown significantly in recent years while remaining stable High economic

growth rates, per capita GDP, stable exchange rates, and tightly managed interest rates and inflation are evidence of this Although the COVID-19 pandemic has had a negative impact on Vietnam's economy, there are some encouraging signs, such as an increase in the country's overall 9 import-export turnover, the opening of new businesses as well as the restarting of existing

ones

3.3 Social factors:

With a large population of 99.5 million people (2022) and an increase in demand for personalized and unique gifts, social factors are particularly significant for a gift consulting services company Additionally, social media trends and the influence of online reviews and recommendations are shaping consumer preferences Understanding these social dynamics is essential for creating appealing and relevant gift solutions that cater to the diverse needs and tastes of the market

In Vietnam, a significant shift is underway in consumer behavior, with individuals increasingly seeking personalized products and services that cater to their unique needs and preferences Against this backdrop, corporate gifting has emerged as a crucial strategy for businesses looking to build meaningful relationships and retain customers, fostering loyalty and driving long-term growth

3.4 Technological factors:

Application of Technology in Production and Services: Technological advancements help corporate gift businesses improve product and service quality

Development of Online Platforms: E-commerce and social media platforms like: tiktok, facebook, instagram, shopee, tiki, lazada help corporate gift businesses reach customers more easily Using digital tools to promote products and services increases online presence and customer interaction 4 Products and services:

4.2

Food: Offers sweet dishes, cakes, candy, chocolate.,

Cosmetics: Comprehensive selection of beauty and skincare products Services: Gift Consultancy and Sales Service:

Gift Consultation: The business provides expert advice and guidance to customers in selecting the perfect gifts for their loved ones

Gift Recommendations: Based on the customer's input, the business suggests a curated selection of gifts that align with their requirements, saving them time and effort in their search

Personalized Gift Options: The business can assist customers in creating personalized gifts, such as customized items, or unique gift baskets, adding a special touch to their presents

Gift Wrapping and Presentation: The business offers professional gift wrapping services, ensuring that the gifts are presented beautifully and elegantly

Delivery Options: The business provides convenient delivery options, including local hand delivery, shipping to specific addresses

Gift Tracking and Notification: Customers can track the status of their gift deliveries and receive notifications when their presents are delivered Gift Exchange and Returns: The business facilitates gift exchanges and returns within a reasonable timeframe, ensuring customer satisfaction Gift Budget Management: The business can assist customers in setting and managing their gift budgets, ensuring they stay within their financial constraints

Gift Registry Services: The business can create and manage gift registries for special occasions, allowing guests to easily select and purchase appropriate gifts

5 Customers:

5.1 Target customer:

Our target customers encompass a wide range of individuals who struggle with s electing the perfect gifts This includes anyone seeking assistance in making thoughtful and appropriate gift choices for various occasions However, the pri

value tech-s

imary focus is on the younger generation, especially Gen Z, who often unique and personalized experiences Gen Z customers, known for their avviness and desire for meaningful connections, are particularly inclined towards services that offer personalized recommendations and innovative gift ideas

5.2 Potential customer:

Our potential customers are diverse, each with unique needs and preferences that our business can cater to effectively Tourists and travelers, seeking unique local gifts and souvenirs, represent a significant market segment They are often on the lookout for memorable items that capture the essence of their travel experiences to take home or send to loved ones Occasional gift buyers, who purchase gifts infrequently but desire high-quality and well-curated options, form an important customer base These buyers value the expertise and convenience provided by a consulting service that helps them find the perfect gift for special occasions

Eco-conscious consumers are another crucial segment, prioritizing sustainable and eco-friendly products They actively seek shops that align with their values, presenting an opportunity to offer a range of environmentally responsible gift options Special interest groups, such as clubs, non-profits, and organizations, require gifts for members, donors, or special events These groups often look for unique, meaningful items that reflect their mission and values, providing another niche market for our business

Social media users represent the most potential customers for our business These individuals are heavily influenced by online trends, recommendations, and reviews, making them a prime target for effective digital marketing strategies Social media platforms provide a space for showcasing unique and personalized gift options, engaging with customers through creative content, and leveraging influencer partnerships to amplify reach Additionally, social media users often share their positive experiences and purchases with their followers, creating organic word-of-mouth promotion and further driving brand

As our target customers are Gen Z, we temporarily consider accessories and gifts stores to be our direct competitors For example:

— Moji- with 5 stores across Hanoi — Ocsenshop - with 3 stores — Merdystudio - with 1 store

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Their products mainly include: Accessories, gifts, toys, etc With quite a diverse range of products so that buyers can have so many options to choose from About weakness, They lack strength in consulting service, some stores even have no this service On the other hand, their prices are pretty high In these stores, you must pay at least 300.000 VND for a simple gift that has meaning for your beloved Through social media, these stores have established a relatively stable position in the accessory and gifts market

6.2 Indirect competitors:

After careful consideration, we think that advice from affinities are our indirect competitors Friends, family can always give advice to customers, which is a challenge for our business Therefore, we must possess outstanding capabilities to distinguish our services

7 Marketing and sales plan: 7.1 Marketing plan:

7.1.1 Marketing strategies:

To effectively market our business, we will allocate an estimated budget of 1/10 of our capital towards comprehensive marketing programs for each quarter of the year

Firstly, we will utilize target advertising by investing in target online advertising on platforms such as social media, search engines, and relevant websites This approach will help us reach potential customers who are specifically interested in gift-giving Additionally, we will focus on Content Marketing by creating valuable and engaging content related to gift ideas, special occasions, and personalization options This content, delivered through blog posts, videos, and social media posts, will attract and educate our customers

Email Marketing will play a crucial role in our strategy, involving the sending of personalized email campaigns to subscribers These emails will include gift suggestions, special offers, and event reminders to encourage purchases To incentivize repeat purchases and customer referrals, we will implement Loyalty Programs These programs will offer discounts, exclusive deals, or points-based rewards to foster customer loyalty

Collaborations and Partnerships with complementary businesses, influencers, and local organizations will be pursued to cross-promote products, host joint events, or offer co-branded gift packages Additionally, we will launch Seasonal Promotions to align with key gifting occasions such as Valentine's Day, Mother's Day, Christmas, and birthdays, providing holiday sales or special offers to boost sales

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