final report subject entrepreneurship topic silom thai restaurant

With golden fonts and pagoda roofs that are typical of the country of golden pagodas, Silom hopes to bring Thai cuisine closer to Vietnamese people.. Therefore, we create a space where d

VIETNAM GENERAL CONFEDERATION OF LABOUR

TON DUC THANG UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION

FINAL REPORT SUBJECT: ENTREPRENEURSHIP

TOPIC: SILOM THAI RESTAURANT

Lecturer: Tran Thi Thanh Van

COMMENTS OF LECTURER

GROUP EVALUATION FORM Evaluator: Group leader

STT Student name Student No Tasks Completion Rate

Sales and Marketing

TABLE OE CONTENTS

PREFACE 8

CHAPTER 1; INTRODUCTION 10 1.1 Logo 10

1.2 Slogan: Secrets of Thai flavor 10

1.5, Mission and Vision 12 1.5.1 Mission 12 1.5.2 Vision 12 1.6 Location 12 1.7 Design 13 CHAPTER 2: COMPANY OVERVIEW 14

2.1 Food & Bevarage services 14 2.2 Types of F&B Services Operations 14

CHAPTER 3: PRODUCT & SERVICE 15 3.1 Field of activity 15

3.3 Design 17 CHAPTER 4: COMPETITIVE AND MARKET ANALYSIS 17

4.1 Relevance of the product in the market Innovative and innovative elements of the product to suit the target market & customers 17 4.1.1 Suitability of the product in the market 17

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4.1.2 Product differentiation

4.2 Process Journey

4.3 Suppliers and Partners

4.4 Overview of the F & B Industry

4.5 Overview Of Market Analysis

4.6, Target Customer

4.6.1 Characteristics of target customer

4.6.2 Persona of target customers

6.1.3 Staff Training

6.2 Recruitment

6.1.3 Job description:

6.1.3 Salary and Benefits

CHAPTER 7: OPERATING PLAN

7.1 Product And Service Development Plan

7.2 Physical Requirements

7.3 Business Model Canvas

CHAPTER 8; FINANCIAL FORECAST

8.1 Expense for business activity

PREFACE First of all, we would like to express our deep gratitude to the teachers of the Faculty of Business Administration who have imparted knowledge and experience both in the study and in life to us during the past time

At the same time, we would like to express our sincere thanks to the teachers who

wholeheartedly imparted and guided the children with the knowledge to complete this report Those are valuable knowledge and baggage for us From the knowledge imparted by our teachers, we have explored and learned many new things

We wish her good health and success in her noble career

In the process of completing the report, errors cannot be avoided due to limited knowledge Hope you understand and give us your feedback so that we can improve our knowledge

Sincerely, thanks!

INTRODUCTION Dining is becoming an essential part of modern life due to the increasing need to communicate and meet According to a report by Decision Lab, in the second quarter of 2020 alone, the number of Vietnamese people (excluding children) going to restaurants in three main

cities (HCMC, Hanoi, and Da Nang) reached 340 million people , equivalent to $1.1 billion in revenue/quarter

Therefore, Vietnam is considered a potential market for the development of this business With the current market opportunities, food service businesses in Vietnam in general and the world, in particular, have made positive moves to improve their competitiveness compared to the rest of the competitors from the supply chain services to communication and promotion activities

Along with that, Thai food is loved by domestic consumers because of its special flavor and

aroma, which is a lucrative business for F&B businesses However, the Thai food business in the

market today accounts for a minority compared to European dishes Understanding that potential should we; SILOM has a burning intention to create a restaurant brand specializing in Thai dishes

to meet the needs of diners with reasonable prices and special flavors

CHAPTER 1: INTRODUCTION

1.1 Logo

SILOM THAI

Bl MAT HUONG VI THAI

When talking about food, just like life, there are many colors, hidden deep in it, there are many things to discover So let Silom help you enjoy the secret of Thai cuisine right in Vietnam

in the most enjoyable way

Through the logo, Silom wants to convey to customers the message that there are many flavors in the cuisine that are still unexplored, just like the small dots on the white background of the logo But when you come to Silom, you will discover each secret flavor With golden fonts and pagoda roofs that are typical of the country of golden pagodas, Silom hopes to bring Thai cuisine closer to Vietnamese people

1.2 Slogan: Secrets of Thai flavor

The taste of the dish is the key to success of the dish Thai cuisine is no exception, with special recipes and ingredients Thai dishes have made a name for themselves in the region and the world It can also be seen that the taste of the food is the main attraction and attraction for visitors to return to Thailand Therefore a Thai food restaurant to ensure the taste of Thai food

and more important is keeping distinctions of that restaurant So Silom Thai slogan "Bi mat

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hương vị Thái” show respect for the cuisine Thailand and beyond that is creating special recipe fit

the taste of Vietnam that retains traditional Thai cuisine

food and space like food courts when traveling in Thailand, we have created a new

symbol of Thai cuisine in Vietnam Where we create a culinary experience environment with Thai style to help diners feel the space that the restaurant brings to the fullest Moreover, we have constantly researched and created recipes with bold Thai cuisine but especially suitable for Vietnamese taste

@ The restaurant is not just a place to eat, but it is a place to experience the cultural space and atmosphere of the restaurant Therefore, we create a space where diners can both enjoy the taste of the food but also experience the atmosphere of Thai street food

Core Value

@ Develop a sustainable competitive strategy on the values that customers receive: taste

- experience - dedication

@ Taste is always a criterion that we are constantly learning and creating to bring the

most complete Thai culinary experience values The balance between keeping the same Thai flavor and improving to suit the Vietnamese taste

@ Not only experience food, but at Silom Thai, diners also experience Thai-style space, music, and space

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1.5

@ The quality of staff is a decisive issue in the customer experience, the success of a dish is contributed by the entire staff Therefore, we focus on recruiting and training staff professionally to improve service quality continuously

Mission and Vision

1.5.1 Mission

Create a prestigious brand in the hearts of customers about Thai cuisine The quality of the culinary experience - service, and space at an affordable price is suitable for many Vietnamese people of all ages

1.6

1.5.2 Vision

@ Constantly developing, improving service quality, and expanding other branches to many provinces and cities across the country to bring Thai cuisine fully to Vietnamese people

@ Expand business on any online platform to serve more people with the most reasonable prices

Location

We choose cities that have an active lifestyle and love to experience and Ho Chi Minh City is the most suitable place nowadays The location is the city center where many agencies, universities, and especially have the ability to connect many districts together Another factor

when it comes to Thai cuisine is roads, crowded streets bustle so wanted to create a space in

nature Thailand then select the appropriate location is very important

The use of online platforms to serve customers is a very popular form and more

customers are trusted because of its convenience Therefore, this is also the place where Silom

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focuses on developing to serve customers better

The indoor area is inspired by famous places and symbols of Thailand, suitable for those who want to experience a more quiet dining space

2.1

CHAPTER 2: COMPANY OVERVIEW Food & Bevarage services

The food and beverage industry includes restaurants, cafeterias, cafés, fast-food joints,

pubs, delis, food manufacturing operations, catering businesses, food transportation services, and

more Work in this industry can range from packaging to preparing, transporting, and serving

food or beverages

2.2

F&B Services can be of the following two types —

@ On Premise — Food is delivered where it is prepared The customer visits the premise to avail the food service The premises are kept well-equipped and well-finished to attract customers to avail F&B service

For example, restaurants, pubs, etc

@ Off Premise or Outdoor Catering — This kind of service includes partial cooking, preparation, and service at customer's premises It is provided away from the F&B Services provider's base on the occasion of major events which call for a large number of customers

Types of F&B Services Operations

There are two broad types of F&B Services operations

@ Commercial — In this case, F&B Services is the primary business The most known commercial catering establishments are — hotels, all kinds of restaurants, lounges, cafeterias, pubs, clubs, and bars

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@ Non-Commercial — Non-commercial operations are secondary

businesses in alliance with the main business These F&B services

mainly cater to their consumers with limited choice of food and beverages These establishments often run under contracts For example, food and beverage services provided at hospitals, hostels, and prisons

CHAPTER 3: PRODUCT & SERVICE 3.1 Field of activity

Silom Thai operates in the restaurant business Thai cuisine is no longer strange to

Vietnamese people, but the experience of full Thai cuisine is more than that, the experience of Thai space at the restaurant is still very limited Therefore, we provide customers with food service and culinary experiences at Silom Thai with a variety of Thai-flavored dishes In addition

to traditional Thai dishes, we have constantly innovated to have special sauces, thereby creating a difference and uniqueness compared to other brands to serve customers the best

In addition, we also develop an online sales system to meet and serve more customers Not only do we provide ready-to-eat dishes online, but we also sell ingredients with special sauces that we provide so that customers can cook and experience the food at home without having to go to the store Especially on special holidays, we also have events at the store with many special offers for customers who have trusted and supported Silom Thai

The only type of business is providing food service:

At restaurant:

Offers Thai-style food and drinks With 3 different zones: outdoor area, indoor area, and

rooftop area The outdoor area is suitable for large gatherings of friends and has a lively

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atmosphere The indoor area is suitable for those who want to experience a space full of Thai beauty specially decorated according to famous Thai place themes The rooftop area is the place

for those who want to watch the sky at night with lights and delicious drinks

Online selling:

We have a sales website platform as well as social networking sites to interact with customers and place orders In addition to social networking sites, we also partner with food delivery applications to maximize customer interaction channels and serve more customers Selling ready-made ingredients:

In order to meet the needs of home cooking and enjoying home-cooked food, Silom provides customers with ingredients and cooking processes, but indispensable for what makes Silom Thai's brand is secret sauce Ingredients and sauces we will prepare, customers just need to cook and enjoy according to the process we guide

3.2 Services

Silom Thai always wants our customers to be able to experience the food at the restaurant

like they are in Thailand Therefore, we organize Thai-style activities and events so that

customers can enjoy the most complete culinary experience

@ Employees use traditional Thai costumes to attract customers, moreover to help

customers understand the core values of the brand

@ Annual event on Thai traditional holidays and New Year These occasions help customers know us more through the media Most importantly, these activities enhance the customer's experience when coming to Silom That

Restaurant design

Location: 69, Vuon Chuoi Street, District 3, TPHCM

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Located in the city center, it is convenient for customers to come to Silom, and moreover,

it is easy to serve customers online

@ The first floor includes 5 small rooms designed according to 5 different themes of

famous Thai spots

@ The rooftop is where there is a cool space for customers to enjoy the food at the restaurant and immerse themselves in the night sky of the city

CHAPTER 4: COMPETITIVE AND MARKET ANALYSIS

4.1 Relevance of the product in the market Innovative and innovative elements of the product to suit the target market & customers

4.1.1 Suitability of the product in the market

The restaurant business is one of the hottest business areas today Many restaurants are opened due to the increasing demand for food of the people, especially in big cities Ho Chi Minh City is the center of economy, culture, education, plays a leading role in the economy in the Vietnamese economy and this is also a dynamic developing city of the first class in the country According to Decision Lab's statistics, the average amount of money spent on one meal per

consumer in three big cities is: Hanoi: 80,327 VND; Saigon: 69,599 VND; Da Nang: 65,526

VND Ho Chi Minh City ranks 2nd in terms of the average amount of money consumers spend

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on a meal,

A few years ago, Japanese or Korean dishes became a culinary trend in Vietnam, so Japanese and Korean restaurants are also increasingly crowded But in recent years, Thai dishes have gradually attracted the attention of young people in Hanoi and Ho Chi Minh City The reason why Thai food has become a “trend” in the culinary world in Vietnam in particular as well as in TG in general is thanks to the unique spices that create its own distinctive

features Referring to Thai food, we often think of spicy, sour, sweet, and unique coconut milk

aroma that can hardly be confused with any other place Snacks such as Thai tea, tea or ice cream are also very unique with strange flavors such as coconut ice cream, mango sticky rice, and Thai tea This is a big plus to help Thai dishes quickly be "positioned" in the minds of customers about the difference

In addition to taste, price is also a factor that helps Thai dishes compete with Japanese or Korean dishes Thai dishes are generally rustic and suitable for Vietnamese people with more middle income Young, approachable and trendy, easy to eat, easy to “pay” is the big reason that helps Thai food quickly become a trend that is very popular with young people recently 4.1.2 Product differentiation

Silom Thai focuses on exploiting the strength of its unique flavor with an exclusive recipe, improved to retain the traditional Thai flavor but still suitable for the Vietnamese taste Besides the unique taste, Silom Thai also gives customers the experience of Thai culture right in Vietnam with a decorated space inspired by Thai culture Silom with 2 types of space: closed room and terrace, customers can freely choose With a closed room space, Silom decorated

and named after each famous city of Thailand such as: Bangkok, Phuket, And with the terrace

space decorated with colorful lights and drawings, bearing sound enjoy Thai Along with the

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experience of space and food, Siloms staff will also wear Thai-inspired uniforms to help customers have the full experience of being in Thailand right at Silom

In addition to the above factors, Silom also wants customers to be able to experience the

above with a more suitable price compared to other restaurants with many promotions and benefits for loyal customers necessary when coming to Silom

4.2 Process Journey

Online

Through the partner's applications (grab, beam, shopee food, ) customers will choose dishes based on the menu available on the partner's app

The customer goes to the cart and checks the order

Customers have 2 payment options: ship cod or online payment

Customers’ orders will be notified to the order receiving machine and billed The cashier takes the bill order and sends it to the kitchen department

The kitchen prepares the food and stores it in a container and brings the finished product

to the table, waiting for the shipper to pick up the goods

Shipper comes to pick up the goods and deliver the goods to the customer

Complete the order and receive customer reviews via the app

Receive customer's contributions and correct the bad aspects for the next service

Offline

Step 1 Prepare before guests arrive

@ Clean the service area thoroughly

@ Set up the dining table

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@ Prepare more serving utensils to replenish when needed

@ Check again to make sure the entire area and the table is clean Chairs neatly instrument adequacy, machinery and equipment have damaged anything

@ Contact parts kitchen and bar to update the food, new drinks or dishes suspended to

inform customers

@ Protection Check the guest list and calculate the number of tables available to receive

visitors and have not booked a table

@ Conveniently place parking signs and staff to assist guests in parking

Step 2: Welcome guests (Enter store)

@ Greet guests and confirm the reservation in advance

@ Service staff actively greet guests with a warm and enthusiastic attitude in accordance

with the standards of the restaurant

@ Confirm guests have booked a table in advance or not

@ Ifso, ask the name of booking in and confirm information

@ If not then ask the number of guests, want to sit in any position and request anything

special and suggest customers wait for a moment to sort

@ In the case Guests book a table but are not yet qualified to serve, the staff needs to ask

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the guest's permission to arrange another table similar to

@ Guide guests to their seats

@ Guide guests with their right hands, fingers together, palms slightly turned the guest's

direction About 1m visitors ahead, adjust the distance matching the visitors, back

behind the speed observer guest

@ Guest table notification

Step 3 Serving customers (Find items)

@ Invite customers to sit

@ About the menu for guests (Stand to the right of the guest, open the menu and give it

to the guest.)

@ Stand back 1 step and introduce the restaurant's special stock

@ Note: the dishes are out or discontinued for customers to easily adjust

@ Can conduct up-selling of other dishes and drinks of the restaurant

Step 4 Record order and repeat order (Receive and check other)

@ Need to prepare an order paper and pen to receive a customer's order

@ Accurately record the number of dishes, customer's request and the correct number of tables for easy checking and Follow-up

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@ After ordering, staff repeats to customers to confirm correct information before

sending to the kitchen

@ Thank customers

Step 5 Transfer orders to cashier, kitchen, bar

@ Order form usually has 3 links:

@ White Contact (main link): bring to the cashier to enter the cashier into the system,

print the invoice

@ Lien Hong: bring to the kitchen to prepare food, bring to the bar to make drinks

@ Lien Xanh: retained by the service staff to check when needed

@ Bring dishes to serve guests

@ Staff use trays to bring finished dishes and drinks to serve guests

@ Ensure correct dishes and correct table numbers

@ Ask permission before placing dishes on guests’ tables

@ Choose flavors in the right position to be able to observe the dining process of guests

@ Observe guests regularly to recognize guests in need of help and timely service

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@ Ensure walking posture Straight, upright, welcoming, cheerful, and polite

@ attitude Absolutely do not do private work, do not leave positions or talk while

@ When the customer asks for payment, immediately bring the bill to the customer

@ Receive money from the customer and check the amount received and brought the money and the bill to the cashier

@ Receive the change from the cashier, check the change, and return it to the guest with

the bill

Step 7 Thanking and guest

@ Seeing off reminding the guest to check if something is forgotten

@ Thank you to guests who have eaten at the restaurant

@ Ask for guests’ opinions and comments on the dining experience

@ Saying goodbye to guests and making an appointment to see them again

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Step 8 Clean up and re-set up the dining table

@ Staff clean up the guest's dining table, sort the garbage and tools in the right place and

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23

4.4 Overview of the F & B Industry

F&B Vietnam

The food and beverage (F&B) industry is one of the important and actively growing

economic sectors in Vietnam, forecasted to grow by 11.6% in the period 2018-2021 and reach a value of 40 billion USD in 2021 (Business Monitor International Ltd) and grow at 5-6% in the

period 2020-2025 With 33 million people in the middle class and well off by 2020 (equivalent to

a quarter of the population) Overview of the F&B industry in Vietnam promises to explode in the

near future according to Boston Consulting Group (BCG) In addition, the income of this

population is forecast to increase from $6,000 to at least $15,000 by 2035 and to double by 2050

(according to PWC) 20% of the monthly expenditure budget of Vietnamese households is spent

on food Compared to other sectors, this figure is close to the growth rate of alcoholic beverages and tobacco (11.7%), and higher than the dairy industry (9%)

F&B is becoming an essential part of modern life due to the increasing need to

communicate and meet According to a report of Decision Lab, in the second quarter of 2016, the number of Vietnamese people (excluding children) going to restaurants in three main cities (HCMC, Hanoi, and Da Nang) reached 340 million people equivalent to $1.1 billion in

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revenue/quarter

F&B Market Overview Report 2020, the amount that Vietnamese consumers spend on food and drink outside depends on where they live According to Decision Lab's statistics, the average amount of money spent on a meal by consumers in three major cities is:

1 Ha Noi: 80.327 VND

2 Ho Chi Minh city: 69.599 VND

3 Da Nang: 65.526 VND

In addition, different location options led to markedly different budgets Refer to the

following average number (calculated on 1 meal/drink per person)

1 Restaurant, full service (Thai Express, Al Fresco, Gogi, ManWah, ): 265,000 VND

2 Hotel (3 stars on average): 216,000 VND

3 Restaurants with alcoholic beverages: 193,000 VND

4, Casual restaurant (Vi Quang, Gia An rolls, Hoang Beo rice paper ): 84,000 VND

5 Fast food restaurant (KFC, Lotteria, Fresh Garden ): 72,000 VND

6 Convenience store (Circle K ): 50,000 VND

7 Canteen: 40,000 VND

8 Street food (tea, fried spring rolls, ice cream ): 35,000 VND

Vietnam F&B market 2021, Men eating out are more popular than women because women are usually the group of people who prefer meals at home, economically and hygienically The age group from 15-35 accounts for the majority of diners, and three-quarters of

visits to restaurants belong to the income segment (7.5-30 million VND/month)

In recent years, with the proliferation of Western restaurant chains, foreign cuisine has become more and more popular with Vietnamese consumers By 2016, about 7% of out-diners

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fell in Western restaurants

Even so, the frequency of going to Western restaurants is still considered to be quite low

Consumers mainly come here to entertain with relatives or friends, partners, to celebrate

important occasions or to seek new sensations In contrast, the frequency of visitors who come to

traditional restaurants / eateries is higher (53%) and the factors affect customer such as the

convenient location (accounting for 14), because they do not want to cook, or simply because there is a lack of cooking ingredients at home High prices are a big barrier that makes Vietnamese customers hesitate to visit Western restaurants

4.5 | Overview Of Market Analysis

The two types of restaurant that account for the largest proportion of both customers and revenue according to the F&B industry report 2020 are full-service restaurants and quick-service restaurants

The difference between these two types of restaurants is: the former corresponds to typical restaurant models, where customers are served at a table (which can be luxury or medium), while the latter deals with Self-catering guests, mainly bakeries, cafes or fast food restaurants

The proportions of these two segments are approximately the same and contribute 72% of

total food revenue The remaining 28% belongs to street food (11%), convenience stores,

canteens, alcoholic beverages and hotel bars Although Vietnam is famous for its street food, this segment accounts for only 11% of the country's total (outside) food consumption

Criteria for choosing restaurants and eateries of consumers

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For this industry, location is a very important factor The restaurant is delicious, beautiful,

and affordable price, but if it's too hidden, too hard to find, or there's no parking space, the

number of customers will also be significantly lost

Depending on the type of product served, each restaurant will have a different business strategy to choose a different location to reach the maximum target customer group, for example: milk tea shop, fast food restaurant for students Employees must open near schools, luxury

Western restaurants for high-class guests must have a good "view" (high, airy, wide, lakeside )

and located in the city center for convenient guests to visit In addition, the restaurants that appear right on the big and famous roads still have the advantage of attracting customers, especially for those who do not know which restaurant to choose or the demand for food arises spontaneously

@ Price

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A consumer is willing to pay 265,000 VND when going to a restaurant, but only accept 35,000 VND for each street food snack Therefore, the feeling of expensive or cheap is not an absolute quantity for visual comparison, but closely depends on the type of business (hotpot restaurant, pub or buffet restaurant ), restaurant segment (luxury, high-end, popular ), style

(pure Vietnamese, Korean, French, Italian ) and other qualities

In Vietnam, Western food is usually about 2.5 times more expensive on average than Asian food In order to narrow that difference and create a more comfortable price feeling,

Western restaurants take full advantage of promotions such as vouchers, combos, coupons, free

drinks almost all year

However, the abuse of vouchers and promotions will not bring positive results in the long

run, by causing “devaluation” for the brand, or creating a habit of choosing which restaurant has

a discount to eat for customers So, when launching promotions, brands should target the

customer group that is likely to help them increase revenue in the long term

In addition, with the addition and menu of dishes with foreign style but processed to Vietnamese taste, so customers can be satisfied with dishes that adapt with their taste

@ Adapting with customer’s taste

Tasty food/drink is the 4th most important factor in choosing a restaurant, after convenient location, clean space and food/drink quality

According to TrungThanh.Net, the vast majority of consumers in our country are familiar with the traditional taste and easily choose Vietnamese dishes That's why KFC, Lotteria or

McDonald's have to add rice dishes, McCafe has added Vietnamese-style bread to the menu to

please diners

Therefore, it is very important to prepare dishes with foreign style but satisfy the taste of

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Vietnamese Not everyone likes foreign cuisine, if Vietnamese dishes are completely absent or the taste is not suitable for Vietnamese people, perhaps the customer base of the restaurants will

be much more modest

Location: Ho Chi Minh City

Occupation or field: university students, office workers

@ Shopping actions

Experience of Thai’s culture

Like to enjoy and be served at the restaurant

4.6.2 Persona of target customers

Silom’s focus group is both men and women, especially the young and mature generation

from the age of 16 to 55 years old In this range, we divide into two small group: Young Adult

Location: Ho Chi Minh City

Quote: You only live once

Goals in context: She needs to be able to go somewhere with my friends or family to get good food, new experiences without breaking the bank

Frustrations in context: She rarely tries new restaurants until they are already popular and widely reviewed

Bio: She often travel and always want to try new foods She regularly influences friends and his family to try restaurants he likes

Interests: Always love to try new, unique foods She often tends to prefer strong spices, not paying attention to the requirements of a balanced diet What attracts her is not only from the layout or atmosphere, but from the quality of the food, the style of service She not only come to the restaurant to enjoy the food, she also wants to have fun with her family and friends Preferred channels: Social networks is her life-line because she can update hot trends,

places to hang out, delicious and famous restaurants when using Facebook, Instagram

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Brands: Thai Express, Chili Thai

4.7, Market size

Target customers: 16 to 55 years old, income is in class C, E, their needs

want to enjoy Thai food and suitable for Vietnamese taste

Ho Chi Minh City population 8.993.082 Total population from 16 to 55 years old 6.016.416 The number of people between the ages of 16 and 55 accounts for 66.9%

In 66.9% of target customer files 3.643.114

The target customer file occupies from 16 to 55 60,55%

TukTuk Thai Bistro

Originating from temple cuisine, TukTuk's dishes are created from traditional dishes, making TukTuk specialties strange and familiar TukTuk Thai Bistro has been striving to become

a favorite stop of Saigon diners The food here is delicious because of the typical Thai spices, the price goes hand in hand with the quality, since then TukTuk Thai Bistro has launched 4 branches Friendly, enthusiastic, and polite staff will help diners have the culinary experience as expected

MK Restaurants

The menu at MK restaurant is a perfect combination of Chinese and Thai cuisine with prices ranging from 200,000 to 220,000 VND/person One of the restaurant's signature dishes is fresh hot pot, called Suki in Thai Different from what you are imagining about Thai hot pot, which is sour and spicy, even slightly intense, the fresh hotpot at MK has a sweet and rich taste Currently, MK Restaurants has more than 5 stores, mainly concentrated and busy commercial centers

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Thai express

With the motto: All for customers

The very desire of customers is to enjoy the food in a comfortable, polite, luxurious, and cozy space, to experience the authentic Thai specialties at the most reasonable price A clear description of Thai cuisine is evident from the unique presentation of the dishes to the taste of each dish Up to this point, Thaiexpress has successfully developed 350 restaurants in 10

countries within 8 years (Australia, China, India, Indonesia, Korea, Malaysia, Mongolia, Saudi

Arabia, Singapore, and Vietnam) Male) The culinary style and business motto of ThaiExpress have attracted many customers from countries around the world

have developed a business model suitable for the Vietnamese consumer market By cooperating with partners who provide quality raw materials at competitive prices, we can control the cost of products in accordance with consumers, thereby improving product quality Along with product prices, we provide services to customers more conveniently with traditional and online sales channels, thus increasing competitiveness with competitors in the market

@ The source of raw materials of clear origin, high quality ensures health

@ Modern facilities, full equipment, and preliminary processing tools to ensure food hygiene and safety

@ The unique way of processing in diverse tastes and culinary styles

Customer service: Always listen to the contribution of customers to have empathy and hospitality That is reflected in the service of food and drinks and handling complaints related to the interactions between employees and customers, employees with managers, managers with

operators, and leaders

Marketing: Young and creative marketing team, with many impressive marketing strategies and activities The marketing of product quality and enjoyable customer experience is

an important factor in ensuring a stable revenue stream, so it should be a top concern for

restaurants

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Optimize “online search”:

@ Search engine optimization for website and online profile with high-probability keyword system and SEO-standard posts on Website

@ Thanks to listening to customers and good service quality, products/services, and

good customer experience are ranked on search engines

Influence of social media: We live in a world of social media (Facebook, Instagram,

Whatsapp, Twitter, etc.) if the food and beverage industry makes effective use of these platforms, restaurants can reach a much larger number of potential customers and attract many new customers

Packaged Meals: Restaurant capacity constraints, coupled with the growth of food delivery services, have spurred packaged meals into popularity So the restaurant is also very 4.10.2 Weakness

Safety concerns

@ Safely reopening restaurants during the pandemic requires restaurants to invest in equipment such as partitions, disinfection equipment, filters, air purifiers, and

personal protective equipment

@ However, checking these expenses carefully, making sure that they are spent just enough to reassure customers and employees, but not so much that profits cannot be maintained with a restaurant

Less innovation

Chefs follow a specific cooking style and produce the same taste over and over again One thing we all know is that customers often get bored with the same taste If the Restaurant

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does not change or update the tastes of its dishes, the customer will switch to another brand Inventory cost

The time to import raw materials from suppliers must be regular and continuous to ensure fresh materials If this problem cannot be met, the restaurant must spend a lot of money to invest

in a system to preserve inventory materials

High rental cost

The restaurant will need a crowded public location to attract new customers Rent is usually very high in such places Even a large part of a business's profit is paid for the rent of the premises

How it works

The functions and decision-making systems of the food and beverage industry are often hierarchical Management decides and employees must follow Employees are not involved in the

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decision-making process That leads to the management still not being aware of the problem that

the customer is facing to change accordingly

Exposure to COVID-19

In addition to government regulations, compliance with COVID-19 prevention standards

is entirely within the control of restaurant management To reduce the spread of infection at restaurants, it is necessary to spend more on safety

4.10.3 Opportunity

Delivery and Catering

These two services have opened up more opportunities for restaurants These two types of services are currently serving many times as many customers as a restaurant can serve in a traditional on-site manner

Job opportunities

Many people lost their jobs due to the economic downturn caused by the pandemic Certainly, the number of job seekers will outstrip the number of jobs This helps the restaurant that intends to open can hire people at a lower cost

Vaccination

Many vaccines will be imported to Vietnam in the near future As the proportion of vaccinated people in the population increases, the Government will reduce restrictions placed on food services

Online Store & Delivery

Most of the food and beverage outlets in the food and beverage industry are transforming their businesses online Where people will have the option to pick any favorite dish and order it for home delivery The store will take online orders, process and deliver the necessary food items

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to the customer's address

Higher-income

The income of the ordinary working-class has increased over the past few years, which is due to labor laws When people have more money, they will spend it by eating well More sales mean more profits

Higher population

The worldwide population is growing Although it has many disadvantages, it is

beneficial for the food and beverage industry That's because a higher population means more people eating, more people mean more sales

Inflation and interest rates

Industrialization, mass production, and economies of scale have reduced the cost per item

More restaurants are proliferating because of lower interest rates As a result, people have more wages and products are getting cheaper and cheaper It's a win-win situation for the food and beverage industry

4.10.4 Threat

Social distancing

Restaurants can reopen in October 2021, provided that seating is limited and social distancing is ensured The reopening at 1/4 of the total capacity makes the restaurant operation process unsustainable So many restaurants are choosing to close

Fewer suppliers

Due to the very competitive market, the raw material supply is limited The restaurant business is dependent on good relationships with suppliers They have to deliver raw products in time, only then can the restaurant do well

Changing customer taste

Due to the crowded market with many competitors and customers have many options to order the same product In such an environment, food taste must be unique Only then can we gain market share Now, customers not only want the food but also want to have a unique and different taste

Government support

According to the World Economic Forum, it will be difficult for the restaurant service

industry to recover without any support, especially support from the Government However, this

is very difficult to do in Vietnam because resources will be prioritized for other urgent and productive sectors

New virus strains

Virus variants are causing concern in the medical community because vaccines may not

be effective against new variants

CHAPTER 5: SALES AND MARKETING PLAN

5.1 Price Strategy

Cost-based pricing

The selling price of the product is priced according to the direct costs of creating the

product (food cost, drink cost) according to the formula:

Product selling price = Cost of raw materials (30%) / Percentage of costs food (70%)

In which:

The cost of raw materials is the total cost of raw materials constituting the product

The food cost percentage is the percentage of the raw material value in the desired store's selling price, this number ranges from 55% to 70%

For example, the cost of a papaya salad is 25,000 VND, the desired percentage of food

costs is 15%, fixed costs 5%, personnel costs 10%, then the selling price of the product will be

calculated The price is as follows: The

price of a plate of salad = 25,000 / (15% + 5% + 10%) = VND 83,33333

From this number, the shop can price a plate of salad from 83,000 to 85,000 which is reasonable

Competitor pricing

Instead of having to calculate the appropriate norm, research the market, survey the customer's spending, taking the competitor as the standard can help the store offer a price that customers can easily accept

With this approach, it is necessary to clearly identify competitors through similarities in

location, store model, menu structure, customer segmentation, Based on these criteria, a

suitable price can be given, not necessarily equal to but 10% lower or higher This fluctuation

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