wh isper i ng tales inc busines s plan wr itten report

BUSINESS SUMMARYWhispering Tales id a bar dedicated toproviding its customers the best quality ofdrinks and the most memorable memories.We specialized in creating the both exquisitedrink

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WHISPERING TALES INC

OUTLINE

1 BUSINESS SUMMARY

Whispering Tales id a bar dedicated toproviding its customers the best quality ofdrinks and the most memorable memories.We specialized in creating the both exquisitedrinks and an unforgettable experience tothe customers Our mission is to comfortthe customers the most by transformingtheir uttermost feelings into a unique anddelicious drink.

At Whispering Tales, we offer a comprehensive range of food and drinks that can fit

anyone’s favorites What is more, we also have a place for exhausted customers, where they can

express their uttermost feeling to the bartenders and escape from the hustle daily life.

With the head leading of the board

directors consisting of Do Viet Anh, Le Mai Huy Hoang, Dang Anh Quan, Vu Nhat Minh, Tran Cong Thanh Khoi, Phan Van Duc Phu, Bui Thai Hai Dang, Nguyen Viet Lan, our team has an ambition of

customers can escape from their hustle and bustle life.

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2 BUSINESS GENERAL INTRODUCTION

2.1Mission statement

From the desire to create memorable experiences that nourish both bodyand spirit Our aim is to lean towards the familiarity of our ambiance, thequality of our offerings, and the sincerity of our service Divided into twolevels, each serving distinct purposes.

On the first floor, we aim to build a traditional bar style with timeless appealand mysterious ambience, serving as a cherished gathering places wherepeople can unwind and socialize Since it is characterized by exquisite decor,cold lighting, these establishments offer a comforting retreat from the hustleand bustle of daily life.

On the second floor, the atmosphere is built like an intimate bar with aenclosed space where "every sip tells a story and every experience beginswith a conversation" Talented mixologists will listen to your personalanecdotes to craft bespoke cocktails This innovative approach transforms asimple night out into a memorable experience.

Hidden spot in the heart ofHa Noi, our pub located inPhố Cổ Hà Nội, 69 HàngBuồm, Hoàn Kiếm

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2.3Product General IntroductionAs being divided into 2 昀氀oors with di昀昀erent purposes:

A traditional bar menu on the 昀椀rst 昀氀oor is varied from alcohol to alcohol beverages Besides, we also provides some small snacks tosip on while drinking.

non-On the second 昀氀oor, our bar lean towards a more private concept which customers are served based on the stories they reveal.

We are committed to maintaining the warmth and familiarity of ourambiance across both levels of our establishment Our goal is toprovide a welcoming space where patrons feel at home, whetherthey're enjoying a quiet drink alone or engaging in lively conversationwith friends.

Our primary goal is to create unforgettable experiences thatresonate with our customers, enriching both their body and spirit Westrive to go beyond just serving drinks, aiming to foster moments ofconnection, re昀氀ection, and joy.

We are dedicated to ongoing improvement and re昀椀nement of ourbusiness operations Our goal is to regularly solicit feedback from ourcustomers and sta昀昀, identifying areas for enhancement andimplementing changes that enhance the overall experience foreveryone involved.

3 SERVICE

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In Whispering Tales we provide both traditional bar and privatebar, o昀昀ers a unique drinking experience where each drink iscrafted based on the customer's personal story or mood.Customers share their stories with the bartender, who then createa personalized drink that re昀氀ects the narrative Our bar providesboth exquisite drinks and an unforgettable experience to thecustomers Whispering Tales promises a unique and inclusiveenvironment where every visit is a celebration of stories and昀氀avors.

Besides drinks served in theprivate bar as known asPersonalized Drinks based onclient's story shared with ourbartenders, Whispering Tales alsoprovides food and drink to ourown menu.

customize their alcohol or alcohol drinks ; note area

Personalization: Each drink is uniquely crafted, o昀昀ering anunparalleled level of personalization compared to traditionalpubs.

Emotional Connection: The narrative approach fosters a deeper

Innovative Experience: The combination of storytelling andmixology positions Whispering Tales as an innovative leader inthe bar industry.

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Highly Trained Staff: StoryTenders undergo extensive training inboth mixology and storytelling, ensuring high-quality service andcreativity.

Atmosphere and Ambiance: The pub’s design incorporates intimateand interactive spaces that facilitate storytelling and enhance theoverall experience.

Customer Engagement: Utilizing digital platforms for storycollection and sharing enables broad engagement and modernizesthe pub experience.

Unlike traditional bars that focus solely on drink quality,Whispering Tales emphasizes the experience, making it aunique destination for those seeking more than just a drink.

The integration of personal narratives sets Whispering Tales apartfrom other themed bars and pubs.

Revenue streams include:

Drink Sales: Premium-priced personalized drinks.

Experience Packages: Themed group experiences and VIP options.Merchandising: Branded items and unique collaborations.

Events and Partnerships: Hosting storytelling events and partnering with local businesses.

4 MARKET ANALYSIS

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4.1Industry Analysis

Nestled amidst the bustling streets and rich cultural tapestry ofVietnam's capital city, Hanoi's bar and pub scene exudes an electrifyingenergy that captivates locals and tourists alike From traditional beerhalls echoing with laughter to chic rooftop bars o昀昀ering panoramicviews of the city's skyline, Hanoi's nightlife presents a dynamic blendof tradition and modernity.

The bar and pub market in Hanoi has experienced steady growthin recent years, driven by factors such as rising disposable incomes,urbanization, and an in昀氀ux of tourists Anecdotal evidencesuggests a robust and expanding market, with a diverse range ofestablishments catering to various consumer preferences.

However, there are barriers to entry in the pub and bar industry.The capital costs of starting a new bar are high Moreover,competition among pubs and bars is intense due to the largenumber of bars in the target market When combined with asmall industry growth rate, market share gains by one bar will beat the expense of others.

Competing for Whispering Tales are other big pubs and bars whichare famous “play ground” in Hanoi for a long time Additionalcompetition for Whispering Tales is other types of bars, for example,sports bars, pubs, co昀昀eehouses, and wine sellers.

Craft Cocktail Bars: Trendy cocktail bars like The Mad Botanist andPolite & Co offer innovative cocktails crafted with premium spiritsand fresh, locally sourced ingredients, attracting a more upscaleclientele.

Rooftop Bars: Rooftop bars such as Skyline 360 and SummitLounge provide breathtaking views of Hanoi's skyline, coupled withsophisticated ambiance and signature cocktails, appealing todiscerning patrons seeking a memorable experience.

Emerging Trends: Several emerging trends are shaping the bar and pub market in Hanoi:

Craft Beer Movement: The craft beer movement is gaining tractionin Hanoi, with a growing number of microbreweries and craft beerbars offering a diverse selection of locally brewed beers andinternational imports.

Cultural Fusion: Many establishments are incorporating elements ofVietnamese culture and tradition into their concept, décor, andmenu offerings, creating unique and immersive experiences thatresonate with both locals and tourists.

Interactive Experiences: Bars and pubs are increasingly offeringinteractive experiences such as mixology classes, tasting events,and themed parties to engage customers and differentiate

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themselves in a competitive market.

4.3Main Competitors

A recent analysis revealed three bars, pubs, and lounges that are thebiggest competitors of Whispering Tales They are 1900 Le TheaterBar, Summit Lounge, and The Blues Bar.

1900 Le Theater Bar, located inHanoi's Old Quarter, is asophisticated and captivatingestablishment that embodies theessence of old-world charm andtheatrical allure With its opulentdécor, handcrafted cocktails, andcurated live entertainment, the baro昀昀ers patrons an unforgettableexperience that transcends theordinary From its plush furnishingsto its mesmerizing performanceswith famous line-ups, 1900 LeTheater Bar stands as a culturallandmark, enchanting visitors withits timeless elegance.

1900 Le Theater Bar’s targetcustomers are individuals seekingan elegant, amourous, and joyfulatmosphere Although that is not abig part of our target customer, itholds a huge bar and pub martketshare.

Address: 8 Ta Hien Street - Hanoi

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4.3.2Summit Lounge

Summit Lounge, located atop askyscraper in Hanoi, o昀昀ers patronsan elevated dining and socializingexperience with panoramic viewsof the cityscape With its re昀椀nedambiance, exquisite dining,exclusive event spaces, andimpeccable service, Summit Loungestands as a beacon of luxury andsophistication Whether enjoyinggourmet cuisine against a backdropof city lights or celebrating specialoccasions in a stunning setting,patrons are invited to indulge in amemorable experience thattranscends the ordinary.

The target customers of SummitLounge are discerning individualswho seek elevated

sophisticated ambiance, and someof the most luxurious rooftop vistasin the city It will not competedirectly with Whispering Tales.

Address: 20th 昀氀oor of the Pan Paci昀椀chotel, 1 Thanh Nien Road, Ba DinhDistrict, Hanoi

4.3.3The Blues Bar

The Blues Bar, nestled in the heartof Hanoi, o昀昀ers patrons anauthentic taste of American bluesculture amidst a laid-back andwelcoming atmosphere With livemusic performances, soulful vibes,authentic cuisine, and a sense ofcommunal camaraderie, the pubserves as a cultural hub whereenthusiasts gather to celebrate thetimeless legacy of blues music.Whether enjoying soulful tunes,casual socializing, or savoringclassic cocktails and hearty fare,patrons are invited to immersethemselves in the soulful ambianceof The Bluse Bar.

The target customers of The BluesBar encompass a diverse range ofindividuals who share anappreciation for authentic bluesmusic, laid-back ambiance, andcommunal socializing And itslocation also very close toWhispering Tales Because of that,it can draw in some of our targetcustomers.

Address: 2B P Ta Hien, Hang Buom,Hoan Kiem, Ha Noi

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4.4Market Segments

Young Adults to Middle-Aged Individuals (18-45): This demographicis likely to seek out unique and experiential nightlife options,including bars, as they are more open to exploring new trendsand experiences.

Middle-income individuals: By catering to the preferences andbudget constraints of middle-income individuals, traditional bars canestablish themselves as go-to destinations for casual socializing,relaxation, and celebration within their local communities.

Connoisseurs of Fine Spirits: Individuals who appreciate 昀椀nespirits value the craftsmanship and quality that our bar ofteno昀昀er, making them key customers for Whispering Tales.

Lovers of Music, Art, and Cultural Events: Those who appreciatemusic, art, and cultural events are likely to be attracted toWhispering Tales, where o昀昀ers live performances, and othercultural experiences.

Creative Professionals: People working in the creative 昀椀eld, suchas artists, designers, writers, and musicians, may be drawn to ourbar as spaces that foster creativity and inspiration.

Discerning Travelers and Foreign Residents: Travelers seekingauthentic and memorable experiences, as well as foreignresidents interested in exploring local culture in a unique way,may be inclined to visit Whispering Tales to immerse themselvesin the local nightlife scene and discover hidden gems o昀昀 thebeaten path.

4.5Market Segments

High-Income Individuals: Those with higher disposable incomesare more likely to prioritize quality over a昀昀ordability, makingthem ideal patrons for a private bar that o昀昀ers premium spirits andexclusive experiences.

Broken Hearted: By recognizing the unique needs and emotions ofbroken-hearted individuals, our private bar can position ourself asa sanctuary where they can 昀椀nd comfort, healing, and perhapseven a glimmer of hope amidst their pain Through thoughtfulambiance, empathetic service, and a welcoming atmosphere,Whispering Tales can cater to this speci昀椀c demographic and o昀昀erthem a refuge during challenging times.

Appreciators of Intimate Settings and Storytelling: People whoenjoy intimate settings and value the art of storytelling are likelyto be drawn to the unique ambiance and narratives often foundin our private bar.

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4.6PESTLE Analysis

Licensing regulations: The bar would need to adhere to locallicensing laws and regulations which could impact its operatinghours, sale of alcohol, and permits for events.

Taxation policies: Changes in alcohol taxes or regulations coulda昀昀ect the bar's pricing strategy and overall pro昀椀tability

Economic cycles: Economic downturns may lead to decreasedconsumer spending on non-essential items like dining out anddrinking at bars.

Disposable income: Higher disposable income levels in the areacould lead to increased spending on leisure activities like going tobars.

Lifestyle trends: The popularity of exquisite, atmospheres mightalign well with current social trends favoring nostalgia andcomfort.

Demographics: Understanding the age, income level, andpreferences of the local population is essential for tailoring thebar's o昀昀erings to its target market.

4.7PESTLE Analysis

Health and safety regulations: Compliance with health codes andsafety standards is crucial for maintaining a positive reputationand avoiding legal issues.

Employment laws: Adhering to employment laws regarding wages,working hours, and employee rights is essential for ensuring aharmonious work environment.

Sustainability: Emphasizing eco-friendly practices such as usingbiodegradable materials, partnering with local businesses andreducing energy consumption can appeal to environmentally-conscious consumers.

Location: The bar's proximity to public transportation or walkability canimpact its environmental footprint and accessibility.

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4.8SWOT Analysis

Experiential Offering: The ability to craft drinks based on personalstories distinguishes the bar from competitors Our bartendersmust possess exceptional mixology skills and the ability toengage customers on a personal level.

Exclusive Atmosphere: The hidden location adds an air of exclusivity,enhancing the allure of the experience.

Cultural Integration: Incorporating elements of Vietnamese cultureinto the drink-making process adds authenticity and appeals toboth locals and tourists.

Limited Accessibility: The hidden location may make itchallenging for customers to 昀椀nd the pub, potentially limiting foottra昀케c and requiring robust marketing e昀昀orts.

Dependence on Bartender Skill: Consistently delivering quality personalized drinks relies heavily on the expertise andcreativity of the bartenders, which may vary.

high-4.9SWOT Analysis

Market Expansion: Partnering with locals and hosting themed eventsor workshops can attract a broader audience and generateadditional revenue streams.

Tourist Engagement: Leveraging Ha Noi's popularity as a touristdestination, the pub can cater to discerning travelers seekingauthentic experiences.

Competition: Established bars and pubs in Ha Noi may pose athreat, especially those with strong brand recognition and loyalcustomer bases.

Imitation: If our service achieves success, there is a possibilitythat others may seek to replicate it, diluting the uniqueness ofthe pub's o昀昀ering and potentially eroding market share.

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5 MARKETING STRATEGY

5.1Purpose and goal:

As society continues to develop and people's living standardsimprove, the demand for entertainment is also increasinggradually, leading to the emergence of numerous restaurants,bars, beer clubs, and nightclubs popping up like mushrooms.Therefore, not only does implementing e昀昀ective marketing andbrand promotion make our bussiness get more customers, earnmore revenue but it also make our company stand out from theothers.

Brand recognition - leaving an impression of your bar in the minds of customers

Increasing customer retention

Increasing revenue and pro昀椀t: attract more customers Facebook page: 10k likes

Tiktok channel: 50k followers Instagram account: 10k followers

The customers of these nightlife entertainment areas mainlybelong to two groups: approximately 11 million foreign touristsvisiting Vietnam annually and over 30 million Vietnamesecustomers aged between 20 and 40 years old

Target market:

High-income individuals seeking exclusive experiences, valuesthe art of storytelling.

Lovers of music, art and cultural events.

Discerning travelers looking for authentic and memorableexperiences

Young people nowadays are more open in the 'Night lifeculture', they are both meticulous but quickly open to therebellious lifestyle from the West.

The center of Hanoi attracts a signi昀椀cant number of tourists, andmoreover, the general psychology of tourists often favors bardestinations for entertainment and to explore Vietnamese culture

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