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ACKNOWLEDGEMENT Foremost, we would like to express my sincere gratitude to our lecturer, Mrs Tran Minh Thu for her continuous support, patience, motivation, enthusiasm and immense knowledge This work would not be possible without her gracious guidance We could not have imagined having a better advisor and mentor for our business plan Besides our advisor, we would like to mention all the members in our group: Thuy Linh and Ngoc Luong for their generous contribution, our supportive international friend Yasmin, and lastly, the leader Anh Minh All of us have taken our best effort to turn “Cyber Game”, which was initially a germ of idea, into a practical project Last but not the least, we would like to thank many individuals who have supported in our process: our friends for suggested ideas and several respondents for willingness to fill in our questionaires Sincerely, 1.1 OVERVIEW Idea Nowadays, computer game has increasingly become a popular choice for human entertainment However, if we want to play famous games, such as: Playerunknown’s Battlegrounds, Call of Duty or Escape from Tarkov, we have to pay for it and the price often ranges from $20-100, which is very expensive, especially for students Furthermore, personal computers probably cannot function well under complex computer techniques, so one thing call “Cyber Game” was born Cyber Game is the advanced new-style game model in Vietnam with large scale based on the criterion of experience-oriented gamers about the quality, service and space Specifically, the space is exclusively designed for gamers, in order to create a healthy recreation place with friendly and profession service Cyber Game also provides fast and high FPS 1, which menas no lagging or network loss while playing Furthermore, a cyber can hold a game tournament, which cannot be carried out by an ordinary game center This is a new model in market, tailored to the needs of current high-end entertainment in Vietnam and have few competitors It can attract many gamers through tournaments and meeting events 1.2 Mission and vision 1.2.1 Mission Cyber Game mission is to provide customers with exclusive high-end computer game playing experience It also aims to hold games tournaments, thus creating and connecting our powerful gamer community 1.2.2 Vision Short-term In the first year operating, we are going to cooperate with several well-known game streamers and our best with marketing to acquire widespread reputation and popularity favor We also attempt to operate the Cyber Game effectively so that Cyber Game would gain customer satisfaction and loyalty 1.2.2.1 Long-term After three years of operation, we aim to hold the first offline game tournament for the centre and hope to attract at least 100 participants Subsequently, we could expand the space of the current centre to equip more devices with a view to increasing the number of customers For the next five years of operation, we hope to open the second and the third Cyber Game in Hai Phong and Ho Chi Minh City 1.2.2.2 1.3 Founders Cyber Game has four founders whose names: Ngo Anh Minh, Pham Le Thuy Linh, Nguyen Thi Ngoc Luong and Yasmin Schwars with respectively investment of 23%, 19%, 19% and 19% in the business 20% investment left belongs to four business partners (5% each) FPS means frame per second The higher FPS is, the more beautiful computer screen displays 1.4 Legal entity General Partnership2 A general partnership is an arrangement by which two or more persons agree to share in all assets, profits, and financial and legal liabilities of a business MARKETING PLAN 2.1 Market analysis 2.1.1 Competitor analysis Competitor identification: all of other game station located in Hanoi, such as: Why Game, Cyber Pharaoh, Hunter Game, Xbox Play Station, etc Strengths • • • • • More computers and larger space Better configured computers Widely known reputation Big investment Stable number of customers Weaknesses Because of large space, sometimes they cannot take care of all customers and control every staff • The place can become very loud and uncontrollable as there are too many customers and only a few managers • No championships and tournaments being held • Not assure of network sustainability or computers’ quality • Differentiation • • • • • • Cyber Game has a smaller space so that we can control all activities Staff can take good care of every customers Guarantee of network sustainability and computers’ quality Have cooperators as famous game streamers Attract many customers through championships with attendance of famous gamers Ensure about the professional space for gamers Table 2-1: Competitor analysis Criteria Cyber Game Why Game Cyber Pharaoh Product Game computers Only game computers Game computers Snack and drinks Food, drinks Game tournament Fanmeeting Price Low Medium High Space Small Large Large Service Staffs can take care of every customer Unable to take care of every customer Unable to take care of every customer Marketing Social network Social network Social network Large number of computers => not every computer will work well Large number of computers => not every computer will work well Famous game streamers Quality Few computers => maintain easier 2.1.2 Target customer Cyber game’s target customers are students, game players, young people, especially young males based in Hanoi, who are likely to spend large time playing computer games For specific, our typical target customers could be described in details: • Occupation: high school and college students • • • • • Age: From 13 to 30 years old Gender: All genders, especially male Income: people who earn more than 1.5 million VND per month Hobbies: playing computer games individually or with group Habits: going to game centers or usually participating in game competititon After deciding direct competitors and target customer, we conducted the following questionaire: Questionaire How many days you play games in one week? Which (if any) of the following you own and play games on: 1-3 days 4-5 days 6-7 days Nitendo Wii Microsoft box 360 Sony Playstation Apple iPhone/iPod Touch PC None Others (please specify) Where you purchase your games? If you buy games with cheap price, are you afraid of being deceived? Auction websites Console Marketplace (Xbox Live, Wii Ware etc.) In store (New) In store (Second Hand) Online shops Others (please specify) Yes No How much per month you spend on average on computer games? Which type of games you enjoy playing the most? Under 500,000VND 500,000 – 1,000,000VND 1,000,000 – 3,000,000VND 3,000,000-5,000,000VND More than 5,000,000VND Arcade Action Driving/Racing Role-playing Others (please specify) What compels you most to buy a game? Are you willing to pay 6000 - 8000 VND for an hour to play games in a game centre instead of buying it in your own? Attractive packaging Good gameplay Multiplayer Features Good reviews Good graphics Cheap New release Others (please specify) Yes No If Yes, why? What makes a game center attract you? 10 In your own words, what you think game centres in Vietnam are lack of? What would your ideal game center be? _ Analysis According to the survey, we realized that people usually spend under 500,000VND per month to play computer games and most of them tend to play on PC or laptop The utilization of devices is listed in the chart below: Figure 2-1: Console Ownership Moreover, respondents reflected that they usually spend at least or days per week to play games and they play whenever they feel free They also seek for deals to purchase games with cheap prices and would not hesitate to buy unofficial games because there are so many reliable second-hand shops However, they are willing to pay only a small amount of money (about 6,000-8,000VND) for an hour playing games The reason is that not many of them can afford those facilities The majority is looking forward to a game centre that owns new equipments (a lot of devices in game centres in Vietnam are too old-fashioned), roomy space with comfortable chairs to sit for hours and to avoid backache Also, an interesting fact is that a lot of game players wish game centres to sell snacks and drinks during game matches 2.2 SWOT analysis 2.2.1 Strength Located within a central location in Hanoi with a high population flow rate Large seating capacity VIP rooms for gamer meetings and tournaments Low prices with discount packages Lastest technology, high speed computers and generator available for back-up Offer food (instant noodles, pizza) and drink (coffee, soft drink, juice) when customers feel hungry and thirsty Most popular games available 2.2.2 Weakness New single branch New staff without much experience The fixed cost of modern computer is very high Updating software and hardware will cost a lot 2.2.3 Opportunity The business model is new in the market Expansion of branches Operation with famous gamers to promote our services Product and service expansion Marketing to gain more customers 2.2.4 Threaten Difficult to attract loyal customers Various substitutes available Rapid changes in technology 2.3 Marketing strategy 2.3.1 Product Excellent game playing experience, served with junk food and soft drinks 2.3.2 Place First floor, apartment 274A, Van Phu residence, Ha Dong district This is a 60 square meters apartment located where there is hardly any game station in the neighborhood Plus, its renting cost is reasonable due to goverment subsidy Most importantly, in Van Phu area, there are several apartments and schools, which will bring us many potential customers 2.3.3 Price From 6,000-8,000VND per hour playing Applying psychological pricing strategy and according to survey results, we decided to set an affordable price for everyone It is also a competitive price as our competitors’ is 800010000VND per hour 2.3.4 Promotion - Advertising through Facebook page and ads - Introduction and recommendation from our cooperators as famous streamers 2.4 Marketing budget 2.4.1 For the first months Table 2-2: Marketing cost for first months Facebook ad Promotion cost on sales Printed ad 2.4.2 For the next months Table 2-3: Marketing cost for next months Facebook ad Promotion cost on sales Total 2.4.3 For the last months Table 2-4: Marketing cost for the last months Facebook ad Promotion cost on sales 10 3.2.2 Employee working process Employee • Cashier • • • • Food server Room manager • • • • • • Security • • • • Task Handle cash transactions with customers using cash register Issue receipts, refunds, change or tickets Greet customers when entering or leaving Cyber Game Maintain clean and tidy checkout areas Keep reports of transactions Serve food and drinks Carry dirty plates, glasses and maintain clean area Update programmes, latest games Maintain efficiently working server Resolve customer complaints, guide them and provide relevant information Monitor and authorize entrance of vehicles or people in the property Remove wrongdoers or trespassers from the are Secure all exits, doors and windows after end of operations Check surveillance cameras periodically to identify disruptions or unlawful acts Provide assistance to people in need Employee working process Time 7:30 AM 10:30 PM Table 3-7: 7:30 AM 2:00 PM / 2:00 PM 10:30PM 7:30 AM 10:30 PM 7:45 AM 10 PM Not all employees start at the same time Some employees like cashier and room manager start before the opening hours to organize and clean the room The security guard has to be available 15 minutes before the opening hours Furthermore, cashier and room manager stay a little longer to prepare everything for the next working day The food server can start later and leave earlier, as there are not many customers at the beginning and end of the day When there is a demand for snacks and beverages in that time, the room manager can serve them There will be an employee handbook, in which daily and weekly tasks are described This way, all employees know what to and how to it Daily tasks could be for example to 16 clean the tables or to bring garbage to the big bin Weekly tasks could be to write a shooping list for the drinks and snacks or to update softwares 3.3 Output 3.3.1 Layout Figure 3-3: Layout • • • • cashier area toilets kitchen playing areas (VIP room includes 10 private seats) 3.3.2 Maximum capacity The maximum capacity of Cyber Game is 30 customers when all computers are being used Assuming that every customer stays about hours, we can serve a maximum of 140 customers a day However, we expect the following numbers for the first few months: Every computer will be used for about 12 hours per day, which makes about 372 hours per month With 25 computers being used and the price of 6.000 VND per hour, plus the sales from food and beverages, we can expect and outcome of 93,985,000 VND for the first month This amount will rise up to 123,745,000 VND in the last months 17 18 HUMAN RESOURCES PLAN 4.1 Job analysis 4.1.1 Organization structure Owner Ngo A Minh Supervisor Marketing Yasmin Schwars Cashier Security Accounting Pham L T Linh Food server Nguyen T N Luong Room manager Figure 4-4: Organization structure 4.1.2 Employee salary Four founders of Cyber Game will be respectively in charge of Owner, Supervisor, Marketing Director and Accountant We need to hire cashier, food server, room manager and sercurity for operating Cyber Game Table 4-8: Salary per month per employee Quantity Salary full-time 3.500.000VND per month, bonus 10.000 per day Food server part-time working by 7-hour shift 105.000VND per person per shift Room manager full-time 4.000.000VND per month, bonus 10.000 per Cashier 19 day Security full-time 3.000.000VND per month, bonus 10.000 per day employees 14,352,500VND per month on average TOTAL 4.2 Recruitment selection 4.2.1 Recruitment ỌN APPLICATION INTERVIEW ON-JOB TRAINING GET THE JOB Figure 4-5: Recruitment process Cyber Game’s Recruiment includes rounds: • • • Application: Post recruiment information online (on website ybox.vn and hrc.com) Interview: After filtering applicants based on CV, we will arrange interview In this round, it is important to test applicants’ professional skills and working attitude On-job training: Employees will have month of on – job training If they perform well, they will become official employees 4.2.2 Selection Table 4-9: Job description and Job requirement Cashier • • • • Job Description Handle cash transactions with customers using cash registers Issue receipts, refunds, change or tickets Greet customers when entering or leaving Cyber Game Maintain clean and tidy checkout areas 20 • • • • • Job Requirements Proven working experience in retail cashier or sales Basic PC knowledge and familiarity with cash register Strong communication and time management skills Attention to detail and mathematical skills High school diploma Keep reports of transactions • Serve food and drink orders • Carry dirty plates, glasses and maintain clean area • Food server • • • • • • Update programmes, latest games • Maintain efficiently working server • Resolve customer complaints, guide them and provide relevant information • Room manager • • • • • • • Security • • Monitor and authorize entrance of vehicles or people in the property Remove wrongdoers or trespassers from the area Secure all exits, doors and windows after end of operations Check surveillance cameras periodically to identify disruptions or unlawful acts Provide assistance to people in need 21 Proven work experience as a Waiter or Waitress Attentiveness and patience for customers Strong organizational and multitasking skills Active listening and effective communication skills Flexibility to work in shifts High school diploma Proficient in handling complex software tools and computer techniques Experience in troubleshooting, software development processes and ability to understand and implement client requirements Active listening and effective communication skills Customer satisfactionoriented Proven experience as security officer or guard • Excellent surveillance and observation skills • High School diploma is required • 4.3 Training and development 4.3.1 Training program The training begins at the time a new person hired and continues for the whole working process The detailed training reduces the turnover rate of staff and the cost of training new staff In service industry, customer’s satisfaction is one of the most important factors This training program focuses on serving quality and attitude towards customes Table 4-10: Training program Topic Company’s Culture Employees’ Duties Skill Training Performan ce Appraisal Content Type of training Training about vision, mission, history, development strategies and company culture Training about detailed tasks, working process and working method Training about requirement skills, concluding serving skills, attitudes for customer and problem solving skill Manager’s sharing Training about the method of assessing employees’ performance and how it applies to their benefits Manager’s sharing On-job training Manager’s sharing and on-job training combined 4.3.2 Development process In newly-established business, there are only a few positions which are already fixed Therefore, Cyber Game’s employees hardly stand the chance of getting promotion in the first few years of operation But in the long run, as Cyber Game develops into a multibranch company, there are a lot of opportunities for senior executives, especially experienced and loyal staff They are likely to be considered for some positions such as: branch manager, project leader, etc 4.4 Performance appraisals The performance appraissals are essential in maintaining an establishmant’s working quality Cyber Game applies its own KPI system which is assessed by supervisor once a month The results of perfomance appraisals affect directly to each employee’s bonus and compensation 22 Table 4-11: KPI system Requirements Level of job completion Score – Incompete 10 – Partial Complete 20 – Complete 30 – Perfectly Complete – Always late 10 – Usually late 20 – Usually on time 30 – Always on time – Not professional 10 – Professional, supportive – Not cooperative 10 – Cooperative Task Work on time Attitude Attitude for Customer Attitude for Fellows Table 4-12: Bonus/Fine method Mark Reward 100 -> 140 Bonus 5% salary 70 -> 100 40 -> 70 No bonus or fine Fine Cut down 5% salary Cut down 10% salary Get dismissed if one maintains the same result for months in a row -> 40 4.5 Compensation and motivation Table 4-13: Compensation and motivation Name Direct Compensatio n Indirect Compensatio Wages Subsidization Healthy Insurance Day - off Full-time Based on fixed salary for each position 10.000VND per day 105.000VND per shift Yes No 10 days/ year months for No 23 Part-time No n Holiday Training Program Team Building maternity leave days for mariage days for death of parents Independence Day, Tet Holiday, New Year Holiday, Liberation Day, Hung’s King Commemorations (based on Government Schedule) Independence Day, Tet Holiday, New Year Holiday, Liberation Day, Hung’s King Commemorations (based on Government Schedule) Yes Yes Once a year Once a year 24 FINANCIAL PLAN 5.1 Financial assumption (for the first year of operation) Salary Salary payment per month: 14,352,500 VND Total: 172,230,000 VND Marketing First months: 13,671,000 VND Next months: 13,356,800 VND Last months: 6,515,200 VND Total: 33,544,000 VND Food and beverages: Total 316,910,000 VND Equipment: Total: 720,760,000 VND Utility cost: Utility: 4,500,000 VND per month Network: 800,000 VND per month Total: 63,600,000 VND Renting cost: 7million VND/month, pay months in advance Total: 84,000,000 VND Selling price: For playing games: 25 First months: 6,000 VND per hour Next month: 7,000 VND per hour Last months: 8,000 VND per hour For food and beverages sold: it will be 1.5 multiple the purchase price Total cost: 1,433,044,000 VND Total revenue: 1,238,370,000 VND 5.2 Cash flow forecast To read the detailed Cash Flow Forecast, please find it in the attached Excel file here: Financial.xlsx 5.3 Income statement Table 5-14: Income statement Income statement Revenue Value 1238370000 Opening stock Purchases Closing stock Gross profit Expense Food and beverages Salary Renting cost Utilities cost Marketing cost Total expense Net profit before tax 1,238,370,000 316,910,000 172,230,000 84,000,000 63,600,000 33,544,000 670,284,000 568,086,000 1,368,086,000 5.4 Balance sheet Table 5-15: Balance sheet 26 Fixed asset Equipment Fixture and fitting Land Current asset Debtors Cash Bank/ prepayment Current liability Creditors Loans Net profit before tax Net asset 5.5 B.E.P analysis Table 5-16: Break-even point BEP 149 272.7 HOURS BEP revenue 558 934 857 VND BEP period 14.23 MONTHS As it can be seen, the B.E.P units are just 149,272 hours per month and our B.E.P period is fairly normal, which means if we don’t have to buy more equipments, we can earn profit just after 14 months However, the equipments are expensive so we have to spend a lot of money to buy (more than 720,000,000 VND) Therefore, our problem is nearly 800,000,000 VND capital to open this business If we could afford that, it would be much easier to meet break-even point just after 14 months It seems very optimistic outcome which is deserved the money and effort we put in In conclusion, Cyber Game is a potential project with high chance of success to invest in 27 RISK MANAGEMENT 6.1 Potential risks 6.1.1 Financial risks (1) Lack of capital: Financial risk, of course, is the big one Most businesses require investing some of your money – and often other people's It is sometimes hard to loan an amount of money from the bank or to deposit money for the rent It is also challenging to mortgage our houses or pledges to invest in the business The investors may refuse to invest as well 6.1.2 Legal risks (2) Most of game centers open late or maybe overnight because people have to go to work or school during the day, they only have free time at night Another reason is a game match takes a lot of time It is common that people have to spend hours and hours playing games In contrast, due to Vietnamese laws, every store has to close before 10 p.m and open from a.m This really matters to our business 6.1.3 Market Risks (3) Whatever you're selling – jewelry, software, consulting services – your business can't succeed unless someone's buying Even if you conduct good research, it may turn out customers don't want your product as much as your business plan projected Even if customers love your offerings, tastes may change or a new, stronger competitor can start slicing market share away Being aware of this matter, we notice that there are many available net stores with cheap price for an hour playing games Moreover, there is an increasing number of cyber games appearing so now we have more and more competitors However, net stores with cheap price just provide customers with low-quality such as old computers, devices and bad service To compete with these stores, we will adjust the price to medium price About new and current Cyber Games, we will solve this matter by boosting the promotion (marketing plan) 6.1.4 Human risks (4) Conflict between partners and business owners: Partners such as game streamers who we cooperate with to promote the Cyber Game may want to raise the share from the benefit If we not meet their needs, they may refuse to cooperate with us any longer 28 Moreover, if they not feel satisfied with any conditions, they may reflect negative comments about the center to customers This would cause a huge loss for our business (5) Conflict among members in working process: Cyber Game is founded by four potential members who all have money, same goals and vision for the business, want to develop it successfully and earn money from it However, when working together for the project, each member raises their own ideas Then conflict arises Moreover, people with different working styles not know how to get along with each other must be arguing All of these shall cause difficulties operating business 6.1.5 Customer risks (6) The number of customers is too small: For a new business, maybe not a lot of people know about it This leads to low demand To solve, boosting the Marketing plan and contacting with famous game players and streamers to promote the Cyber Game (7) The number of customers is too big: When there are too many customers come in rush hours, we not have enough computers to supply Customers may feel disappointed and never come back to our center To solve this problem, we will give them vouchers or discounts for next time playing or arrange a new schedule for them tomorrow and take seats for them in appointed hours 6.1.6 Technical risks (8) Updating new technology: Games are updated everyday And there are many new games appear in the market, even new modern devices to play games on are invented Solution: Keeping up with trend (9) Black-out: To run a game center requires a large amount of electricity This may lead to overloading electricity and black-out, affecting a lot to customers’ feelings Solution: Prepare electric generator, contacting with Electric Company to deal with them about supplying electricity or buying electricity somehow (10) Staff attitude towards customers: Due to concentrating many hours playing games, players may feel stressful and easily bad-tempered They may require too much from the staffs and arguments are hardly avoided Staffs may act impolitely or rude to customers 29 To avoid this problems, we need to interview the employees carefully and train them how to react professionally 6.2 Quanlitative risk analysis Table 6-17: Quanlitative risk analysis Impact probability Medium High High (5) (2) Medium (3) (10) (6) (9) (4) (8) (1) Low Low (7) Table 6-18: Solutions for risks Types of risks Solutions - Prepare a detail plan to convince potential investors - Opening a range of money sources Have to obey the laws - Open the center soon at a.m and operate continually 14 hours til 10 p.m - Use vouchers or discount to encourage customers to come to center at off-peak hours Finan cial risks Lack of capital Legal risks Opening the center late violating against laws Mark et risks Competitor s - Adjust the price - Boosting the Marketing plan Conflict from partners - Sign a contract to make everything clear Conflict among members - Find a leader, who is quick in thought, decisive and understand Hum an risks 30 ... M.:Swiss Journal of Economics and Statistics BUSINESSFIRST: The Business Plan Format: https://businessfirst.com.mt/en/planning/Pages/THE -BUSINESS- PLAN- FORMAT2.aspx KOTLER P.: Marketing Management,... 7Ps PARSONS, N.: How to Write a Business Plan (Updated for 2018): https://articles.bplans.com/how-to-write-a -business- plan/ ENTREPRENEUR: How to Write a Business Plan: https://www.entrepreneur.com/article/247575... business 6.1.5 Customer risks (6) The number of customers is too small: For a new business, maybe not a lot of people know about it This leads to low demand To solve, boosting the Marketing plan
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