UNIVERSITY OF FINANCE- MARKETING

INTERNATIONAL SCHOOL OF FINANCE-MARKETING

FINAL EXAMINATION

Asian Entrepreneurship and Innovation

Course code: 2231910011101

Lecturer: Nguyễn Ngọc Hoàng

Student’s Full name: Nguyễn Lâm Linh Châu

Student’s ID: 2021008198

Hồ Chí Minh City, December 6, 2022

 My business idea is to open a restaurant. Unlike other restaurants, my restaurant will have
cozy designs to help customers who come to the restaurant feel as familiar as eating at home.
Not only that, when going to other shops, customers may be annoyed by the surrounding
noises and find it difficult to communicate and share what a day spent with each other. To
avoid that situation, my shop will open gentle symphonies and light scented candles to help
customers feel more comfortable and ignore the noise or people will tend to talk softly. The
restaurant's name is “Happy Fam”. The reason I named the restaurant "Happy Fam" is the
restaurant where I will serve meals for a happy family. Fam means family and every family
that comes to dine at a restaurant is a happy family. A happy home, they will spend a lot of
time together and share with each other all the joys and sorrows in life. So, I hope "Happy
Fam" can be a place where families can choose to eat and share together. The vision of
"Happy Fam" is aspiration to bring warm and happy meals filled with customers' joy and
laughter, your smile is my joy. "Happy Fam" pursues the dream of helping family members
bond and understand each other better when dining here. The mission of "Happy Fam" is to
provide quality, food-safe and delicious meals just like mom cooks. Improving the quality of
meals, people dining at :Happy Fam" are not only an ordinary customer but also a person
who cares about their family, improving their health and helping their family have a good
time together.
Today, the pace of city life is getting faster and faster, parents cannot spend time with
their children to enjoy a complete meal. Children have to spend eight hours going to school
to learn, so their bodies need to be provided with all the necessary nutrients. However,
because they are so busy, parents often do not have much time to cook, so they choose to
take their children to a restaurant. But the restaurants they lead may not provide the nutrients
they need because they only take their children to fast food restaurants like KFC or Lotteria.
Therefore, my idea was formed by wanting all families to have a complete and nutritious
meal with a delicious taste like being cooked by my mother. A child who lacks nutrients will
easily get sick and not be able to go to school. If they have to consume too much fat from fast
food, those children will be at risk of obesity or diabetes. Therefore, the restaurant service
that I think will solve this problem, my restaurant will cook family meals on behalf of
parents, helping parents save time and their children can eat well. and enough quality. Not
only that, but the shop also aims to slow down life, help people care about each other more
and not be affected by the pressures of society anymore. With the cause and opportunity that
I choose to develop this service, the target market that I want to target is people who are
married and have children. People who are 25 years old or older. They are people who care
about the health of their family but do not have enough time to do it. They are usually office
workers who come home late from work with moderate to good income. Because the target
audience is married people, I will open a restaurant near places where many households live.
For example, in districts like Tan Binh and Go Vap, there are a lot of people living and
having a good income.
To achieve success, I will set short-term and long-term marketing goals. With a short-term
goal, to attract more customers to know my brand, I will do a lot of advertising and
promotion. I will use social networking sites like Facebook, Tiktok to run ads for the
restaurant. Hire KOLs to review the restaurant and post comments about the restaurant on
social media. Hired many newspapers to write about the restaurant, ranking my restaurant as
the one to go to when going with my family. Create a crowd effect, making many people
curious about the restaurant's space and how the food can make them happy. For the long-
term goal, I will focus on developing the core value of the service. It must be imprinted in the
mind of customers that when they come to eat at "Happy Fam", they will feel like they are
eating at home and feel warm, happy and full of laughter. Set revenue goals and connect your
brand with people. Make a list of potential customers, call those who have eaten at the
restaurant to register for membership. When there is a promotion or a customer's birthday,
they can send a message to the customer to announce the promotion or send wishes and a
gift. To attract customers, I make a logo so that customers can identify the brand. A smiling
bowl and smiling spoons represent feeling happy while dining here. Along with that I created
a poster to advertise it, it has a picture of a happy
family eating together. drink and laugh, the name
of the restaurant and its slogan. The restaurant has
a catchy slogan that is your smile is my joy.

General analysis of the industry, I

choose the restaurant service industry
because people eat and drink every day
and now they tend to like to eat well and dress well. Currently, Vietnam's population is
aging, so the social trend is gradually showing concern about health and they want to eat
quality and organic meals. However, they have to spend a lot of time working to earn money,
so they cannot care about their health. Especially parents, they care a lot about their children,
so they always want to give them the best. Therefore, I think my industry will be suitable in
the current social trend, a restaurant that provides clean food, cares about the health and
mood of consumers. Her industry will solve the problem of providing a complete and quality
family meal for mothers who are too busy to have enough time to prepare. Economic and
social trends are helping incumbents in the industry. Because now people's income is
gradually improving and they put money into health care and beauty activities such as
nourishing hair shampoo, massage and especially organic food. There are many shops selling
organic vegetables and meat such as Vietnamese agricultural products, rural agricultural
products, Da Lat GAP store, etc. So if my industry is opened to provide a meal committed to
using organic food, everyone people will spend money to eat.
For detailed analysis, I will choose two force models, threat of substitutes and rivalry
among existing firms. Industries are more attractive when the threat of substitutes is low.
With Happy Fam, there are also many restaurants that also focus on organic food and provide
cozy meals for families. Therefore, customers can choose other restaurants if their prices are
lower than mine. In order to retain customers, I will increase the service quality of the store.
For example, I will train my staff to always be welcoming to customers, customers are
number one and always have to take care of customers in the best way. There will be a free
dessert bar including fruit, ice cream and cake (because the target audience is married and
has young children and kids love desserts). Not only that, but I will also have special
programs such as storytelling program, singing program, etc. The major determinant of
industry profitability is the level of competition, so that i will talk about the rivalry among
existing Firms. If the number of competitors is too large, the restaurant will face price-cutting
problems. Next is the level of difference, if there is not a big difference between my
restaurant and the competition, it will affect the competition in the industry. Therefore, I will
create a difference and brand identity in the hearts of customers with the slogan "your smile
is my joy". Restaurants that rent a lot of space compared to other shops will sell at a higher
price than them. Therefore, before hiring, I will research the fixed costs to pay and calculate
the price that customers have to pay for the product in a reasonable way.
In macroeconomics, if there are many unemployed people, I think it will be easy to hire
employees and the rent is not too high. Since the supply is more than the demand, we can
easily negotiate the price with our employees so that it is reasonable. If there is inflation, the
cost of raw materials will increase, leading to an increase in the price of products sold.
Therefore, users will find it not worth spending money to use their services. In addition, to be
able to start a business, I need a certain amount of capital, I can borrow money from my
family.