NEW VENTURE DEVELOPMENT SEPTEMBER 2018

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ASSIGNMENT SUBMISSION AND ASSESSMENT _

BMNV5103 NEW VENTURE DEVELOPMENT

SEPTEMBER 2018 _

Teacher: DR BIBI

Class: OUM K23C

Name: Võ Ngọc Thanh Phương

QUESTION 1

According to current information on the market, milk tea fever is on the rise, the brand as GongCha or Share Tea - the brand has been very successful in the fastidious markets such as Europeand the opening of milk tea First in Vietnam, hundreds of people are willing to queue long waitsand even, they limit the number of cups a person is buying Thus, the consumption of thisbeverage is very large In fact, the cost of a glass of milk tea today is about 30,000-60,000 VND,2-3 times more than before, while the cost of raw materials for a glass of milk tea is not too high.The cost is low in profit, so this may be the reason why "homeowners" choose to trade milk tea

to start a business According to a report by Euromonitor, Vietnam's milk tea market is worth $

282 million USD by 2016, an annual growth rate of 20% High growth has attracted manyinvestors to jump into the market According to Lozi, a company that provides app sharing fordining experiences, more than 53% of respondents regularly drink milk tea once a week Fromthe beginning of 2017 to the end of June, on average, every month in Hanoi, there are 8 milk teashops of the brand opened And based on the above analysis, we decided to open HomemadeMilk Tea in Vietnam, and we believe that people will embrace this new brand as well as thename we have set for it

Business description

Homemade Milk Tea Co., Ltd, is a company specialized in trading products made from highquality tea of Thai Nguyen, called Homemade Milk Tea to the familiar, close, everything is ourown hand, especially is the topping of milk tea Milk tea has been around for many years, butmost of the raw materials for making milk tea are not clearly identified, causing many consumers

to panic Today, Homemade Milk Tea wishes to serve the best teas for customers, as well as thename itself We wish Homemade Milk Tea can bring a quality product to consumers with clearorigin of Vietnam Not only do we bring quality products, we also bring a comfortable, quietspace to help customers relax after hours of study and work stress

Core values

Top quality: Ensure safety, hygiene and quality The use of safe, natural and hygienic ingredients

is a top priority of Homemade Milk Tea The excellent taste of the drink is the next importantgoal we want to look forward to

Professional and professional service: Homemade Milk Tea wishes to satisfy customers with thebest professional and friendly service, always listening to the contribution of customers.

Trusted Brand: Based on two core platforms, Quality and Service, Homemade Milk Tea strives

to build and maintain a trustworthy brand image in the eyes of customers

Homemade Milk Tea is located near the center of the city, at 100/12 Vo Van Tan, Ward 5, District

3, Ho Chi Minh City, near the University of Natural Sciences, location near the University andbuildings The office also creates favorable conditions for Homemade Milk Tea to attractcustomers Due to its space is mainly for students and office staff, so it does not have to belocated on the frontispiece, which saves space The running time of Homemade Milk Tea is from8:00 am to 10:00 pm, divided into 2 Shift, Shift 1: 8:00 to 14:00, Shift 2: 14: 00-22: 00, eachshift equivalent to 6 employees

Design Model

Picture 1 1st floor design of Homemade Milk Tea

Picture 2 2st floor design of Homemade Milk Tea

The design of the restaurant consists of two floors, the first floor is the area for customers toenjoy drinks milk tea with an area of 100m2, second floor is 150m2, space for customer drink

milk tea In the future, we intend for teaching English to communicate and rent for co-workingspace.Both floors are fully equipped with air conditioning and high speed wifi.

Marketing Plan

Implementing the 4P plan involves the following steps:

- Product: Milk tea products are now sold in the market, and each milk tea has a relatively highprice One of the things that makes a difference of Homemade Milk Tea is that milk tea is madefrom tea and milk, not like regular milk tea, made from unknown sources, which affects humanhealth consumption Topping is also done by the manual, ensuring hygiene, not like the toppingtype made from toxic chemicals In addition, when the customer orders, the new employeebegins to blanche in place, unlike the milkshake that is blended for the day, these are the salientfeatures of the new product

- Price: On the price of Homemade Milk Tea, the price of a cup with topping is 30,000 VND,which is relatively competitive with other milk tea shops, competitive price with a product.Quality and health are probably the kind of drinks that are worth using Although pricing aproduct at a lower price than its competitors is not a new strategy, most Vietnamese still preferquality products at discount prices rather than high-end products The high price, becauseVietnam is still a developing country, so the number of people with low income is higher thanthat of high income people, so the application of this strategy is quite right

- Promotion: Make some promotions like: Buy 2 get 1 for any product, or buy 1 get 1 for 2-3weeks, 15-20% off on total bill Short promotion time will attract more visitors than long time Inaddition, Homemade Milk Tea will also apply the promotion for you to purchase online bysupporting delivery charges The main promotional channel is still Facebook and Zalo, inaddition to the store will hang Standee and poster in front of the door so customers can know andrush to use the promotion One of the most effective ways to advertise is to hire staff handed outflyers in front of the college entrance or at a third level close to the pub (it is estimated that 1,000flyers will be delivered in the first month, continue broadcasting or not) According to eachbrochure, customers who come and bring their leaflets will receive a discount of 15% on anydrink that is not included with the promotion at the restaurant, which will help customers to payattention to promotions and introduce many friends to enjoy the incentives

- Place: Homemade Milk Tea's main selling method is direct delivery In order to expand itsmarket share, Homemade Milk Tea will cooperate with distributors such as Delivery Now, Grab,Vato People can use their products at school or at home and at working.

Sales Process

Inside,

• Prepare the plan: Our business product plan is still looking to expand our milk tea drinks Wewould like to make our own milk tea, from the raw materials of Vietnam to ensure the health andoptimal price for the user

• Approach: As one of the sales techniques aimed at knowing the main needs of the customer andassessing the customer, the sales person needs to understand the needs of the customer by askingthe customer directly.The target audience we identify as students and office workers, most ofthese age groups will be in need of drinks at work, office meetings, exchanges and entertainment

• Introduce Product: To introduce the product, the first thing is to understand the outstandingadvantages of the product compared to other competitors Milk tea is the new drink of the shop,and the main advantage of this product is all made by hand, do not enter raw materials of

unknown origin Topping also we buy the powder to do and cook in sufficient quantities in theday, the next day we will make a completely new material.

• Ordering and payment: After the customer selects the product, proceed to order quantity andpayment at the cashier

• Promotion for member and new customer: This is the after sales program that almost anybusiness forms apply Especially, the business of eating is effective for both types of customers,

as a loyal customer when buying more products will accumulate and enjoy incentives, 2 is thepromotion will attract to new customers first use the product

Sale Tactic

One of the most important strategies to help customers know new products is the combination ofcommunication through Zalo, Facebook or traditional channels such as direct referrals Whencustomers come to the shop and hang posters in front of the shop for people to know and come touse

In addition, the promotion strategy is an important strategy to increase the number of customers

of Homemade Milk Tea, the promotion strategy can be buy 1 get 1 or reduce from 15% -20% ofthe total bill paid when using milk tea

Cooperate with other media channels such as Samsung Pay, Galaxy Gift, AirPay with the aim

of increasing the market share, helping more people know about Homemade Milk Tea and save

on marketing costs and increase the number of customers By co-operating with the abovechannels, Homemade Milk Tea will enjoy a 15% discount when milk tea drinks for customersusing genuine Samsung phones or electronic applications, the promotion will not be cumulatedwith chapters Other And Samsung will print free Poster, Tent card for Homemade Milk Tea withvideo recording and running Facebook Ads for free, the cooperation will bring many benefits forHomemade Milk Tea in terms of communication The promotion only lasts 3-6 months to ensurethe level of attractiveness and cost for Homemade Milk Tea when launching new drinks

Operation plan

1 Prepare flour, milk, tea to make milk tea Ingredients 7:30 am – 8:00 am

2 Clean and set the room, furniture and

restrooms Milk tea shop become cleaner 7:30 am – 8:00 am

3 Run the water and electricity Ensure the operations run

4 Arrange seating for the area Milk tea shop has enough

seats and more compact

7:30 am – 8:00 am

on every Saturday &Sunday

5 Maintain the cleanliness and the tidiness of

Homemade Milk Tea Milk tea shop become cleaner Through the work process

6 Check the amount of flour, milk and tea in

every shift

No shortage of raw materials

At the end of each shift

7 Count revenue of every shift Daily turnover statistics 14:00 everyday

22:00 everyday

Table 1 Describe Operation Plan

The employee’s duty: Employee should be one hour coming earlier to prepare themselves andhave daily briefing Employees should leave Homemade Milk Tea one hour later to make finalchecking and brief the next shift

Management team

Homemade Milk Tea is organized and managed by the following members:

- Mr.Hoang-CEO: With experience in business management, Mr Hoang is the CEO ofHomemade Milk Tea Mr.Thao graduated from Business Administration and worked for well-known Finance companies He worked in 2-3 coffee shops before setting up Homemade MilkTea He is a person who is eager to find the difference in the market, always want to lead thetrend, try to achieve his own plans With Homemade Milk Tea, he is looking forward to moredevelopment of the field of activity As a CEO, he is the one who directly brings out the plan torealize the vision and mission of the company, responsible for the planning and direction of thecompany He is the person who directs the design and approval of development issues, financialpolicies and co-operation

- Ms.Tram-BOC: With 15 years experience in consulting, Ms.Tram is an executive consultant formany F & B projects such as Domino Pizza, Pizza Hut, Coffee House, Urban Station As aBOC, she hopes to develop Homemade Milk Tea as a really useful model for young people,alongside executive advice For the CEO, Ms.Tram will be the CEO's representative and have theright to directly approve the co-operation contracts when the CEO goes to work, and Ms.Tram is

also the one who can contribute to the operation and monitoring Every activity on behalf of theCEO and all financial decisions of the BOC must be approved by the CEO.

- Mr.Duy-CFO: In the field of corporate finance, Mr.Duy has over 15 years of experience infinancial analysis, cash flow management and financial planning for a project In addition, he is

an expert in the use of financial instruments to help maximize the efficiency of capital use incompanies and businesses, thereby saving money on business operations Businesses areevaluated ineffective through analytical and computational tools

- Ms.Phuong-CMO: Although she has been active in Marketing for over 4 years, she hasextensive experience in product development, marketing communications, market research,customer care and distribution Distribution channels as well as sales management Although she

is quite young, she is constantly exploring and learning the skills of managing marketingstrategies She directly plans to promote her company's products as well as monitor and developmany strategies attract customers of the company

CFO Mr.Duy

BOC Ms.Tram

CMO Ms.Phuong

Employees

+ Service staff follow the shift and are classified by area, flexible view and customer division ofwork.

+ Drink the drink to the customer

+ Cleaning when shift and shift shift

+ Resolve all requests of guests

+ Follow the assignment of management

+ Need to create a good impression with customers and work under pressure

+ Have the spirit of progress and constantly learn

Neat, clean

+ The expected salary for each employee is 3,000,000 VND / month

Training and coaching staff:

The Milk Tea environment is always busy, so the employee training program is held on the firsttwo days before the opening of the restaurant and the first day when the employee enters, inwhich the previous manager is given away Study a short course of few days about referring back

As for service man, the training will take place 1-2 days before the job, the requirements in thejob process mainly focus on issues such as:

+ Always welcome customers with a smile, giving customers the first impression of friendlyopen.

Always calm and use polite language when communicating with customers, avoid sayingdifficult words to hear impolite gestures with guests

When assigned to the service area, always focus on the customer that you serve and always saythe word when the customer is not happy about something, find another way to fix the problem .+ Be neat, clean uniform, learn from the previous experience and share with anyone who wants

to learn from you

+ Friendly and help each other in the work

Financial projections

Build up and decorate

Homemade Milk Tea

Internet service 3,000,000Screen 41’ inch 17,000,000Air-conditioner 22,000,000Projector (Sony) 18,000,000

Tool to make coffee,

Table 2 Total cost of materials and equipment

Note: The cost does not include: rent space (stakes), other costs (about 10 million) and costs of materials investment time before operating

Management Accounting:

a Fix Cost: Costs are almost fixed or less likely to vary with output

- Rental space: 20 million VND / month (Due to the large space, quiet, no need of frontage

so the ground may be in the alley)

- Depreciation of fixed assets: VND 250 million / 25 months = VND 10 million / month

- Interest rate = 0 VND

- Human resources: including 8 people doing rush hour and 4 people working in low hour,the salary per person is 3 million VND / month, total: 36 million VND / month

- Electricity, water, internet, loss: 3 million VND

- Tea, milk, topping: 12 million VND / month

- Cost of relationships: 1 million VND

The total fee for one month is VND 82 million

b Variable Cost: As costs change as sales vary, assuming variable costs in this case is 40%.From the above we can infer:

- Turnover for one month: 82,000,000*100/60 = 137 million VND / month

- Turnover per day: 137,000,000/ 30 = 4,560,000 VND / day.

- With the average selling price of 30,000 VND / 1 cup of milk tea, the amount of milktea need to sell in the day to breakeven is:

• Number of cups of milk tea: 4,560,000/ 30,000= 152cups / day

Revenue Streams: The revenue required to reach the break-even level of one month is137,000,000 VND, the turnover needed to reach the breakeven level per day is 4,560,000 VND

On average, the total number of cups sold for break-even is 152 the cup of milk tea At thebeginning of our business we expect sales to break even, and within 6 months to 1 year webelieve that sales and profits will also increase

Build up and decorate milk tea shop 50,000,000

Uniform, banner, leaflet 25,000,000

Total Depreciation/ Month 10,000,000

Electricity, water, Internet… 3,000,000

Ingrdient: tea, milk, topping 12,000,000

Sources of Funds

Table 3 Uses and Sources of Funds

Pro Forma income Statements

2019(VND) 2020(VND) 2021(VND) 2022(VND) REVENUE

0

6,242,400,000 7,956,000,000 15,300,000,000Rent for lease 60,000,000 60,000,000 60,000,000 60,000,000

0

6,302,400,000 8,016,000,000 15,648,000,000 COST OF SALE

Ingrdient: Tea, milk,topping 264,000,000 792,000,000 912,000,000 1,824,000,000Electricity, water, Internet… 36,000,000 108,000,000 108,000,000 216,000,000

Total cost of sale 300,000,000 900,000,000 1,020,000,000 2,040,000,000 OPERATING EXPENSES

Salary 432,000,000 1,296,000,000 1,296,000,0000 2,592,000,000Renting cost 240,000,000 720,000,000 720,000,000 1,440,000,000

Table 4 Pro Forma income Statements

From the table of income of Homemade Milk Tea in the next 4 years, in the column of net sales,

we see that sales in 2019 mainly come from the rental of English teaching space, this is alsoreasonably reasonable because any Milk Tea shops that start business also suffer losses within 6months to 1 year after that breakeven sales And this is just assumed income, in fact we stillexpect the revenue of the restaurant exceeded the plan set out By 2020, we have to invest in twomore milk tea shops, so we need a lot of support from investors, we can say that this is a riskystep when the annual revenue 2019 is only breakeven and if the source of revenue is not rising, itforced us to sell fixed assets to offset losses In the year 2021, Homemade Milk Tea focuses onconsolidating and sustainably developing the service as well as three open milk tea shops, and

we do not stop there, we want to create a variety of milk tea drinks, giving people more choices.The profit for 2021 reached 1,896,000,000VND with the assumption that profits rose 30% foreach milk tea shop, nearly 10 times more than the revenue in 2020 and this The long-termsuccess of Homemade Milk Tea is very high Turnover in 2022 reached 15,648 million, doublingthat of 2021, assuming 30% profit margin for the three restaurants and 20% for the other 3 shop

It is one of the fastest ways to get a return on investment, although the cost of investing in afacility is high, but if it calculates depreciation on a monthly basis, it is still acceptable

Pro Forma Balance Sheet

2019(VND) 2020(VND) 2021(VND) 2022(VND) ASSETS

Current Assets