VIETNAM GENERAL CONFEDERATION OF LABOR

TON DUC THANG UNIVERSITY

BUSINESS ADMINISTRATION

ENTREPRENEURSHIP
MIDTERM REPORT
DEUX DE BONBONS - THE ORGANIC
CUSTOMISED CANDY STORE

Lecturer: Ms. TRẦN THỊ THANH VÂN

Student: Nguyễn Võ Quang Huy - 719H0986
Phan Huỳnh Tuấn Anh - 719H0945
Nguyễn Thị Bình Nhi - 719H0089
Nguyễn Hồng Ngọc - 719H1009
Trần Thị Thúy Ny - 718H0737
Nguyễn Trần Trúc Phương - 719H0101
Lâm Minh Sang - 718H1749
Đào Thanh Thanh - 719H0907
Nguyễn Phan Phương Thảo - 719H0910
Nguyễn Minh Thuận - 719H0299

HO CHI MINH CITY, FEBRUARY 2023

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 TABLE OF CONTENTS
Introduction ....................................................................................................................... 4
Step 1. I want to start my business ................................................................................... 5
1.1. I want to understand my customers ...................................................................... 5
1.1.1 Persona ................................................................................................................. 5
1.1.2. Focus Group ........................................................................................................ 5
1.2. I want to develop a viable business model ............................................................ 6
1.2.1. Value Builder ...................................................................................................... 6
1.2.2. Return On Investment Calculator ....................................................................... 8
1.3. I want to implement my new business ................................................................... 9
1.3.1. Business Model Canvas ...................................................................................... 9
1.3.2. Business Roadmap .............................................................................................. 9
1.4. I want to test the attractiveness of my products/ideas ....................................... 10
1.4.1. Thinking Hats ................................................................................................... 10
1.4.2. Focus Group ...................................................................................................... 11
1.5. I want to explore new market .............................................................................. 12
1.5.1. PESTLE Analysis ............................................................................................. 12
1.5.2. SWOT Analysis ................................................................................................ 13
1.5.3. Porter’s Five Forces .......................................................................................... 13
Step 2. I want to test my business .................................................................................. 15
2.1. I want to test the attractiveness of my product or idea ..................................... 15
2.1.1. Thinking Hats ................................................................................................... 15
2.1.2. Focus Group ...................................................................................................... 15
2.1.3. Business Model Metrics ................................................................................... 16
2.2. I want to test whether my business is futureproof ............................................. 17
2.2.1. Business Model Canvas .................................................................................... 17
2.2.2. PESTLE Analysis ............................................................................................. 18
2.2.3. Business Model Stress Test .............................................................................. 19
2.3. I want to increase efficiency ................................................................................. 20
2.3.1. Process Journey................................................................................................. 20
2.3.2. Deadly Wastes Canvas ..................................................................................... 21
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 2.4. I want to test whether my business is financially sound .................................... 22
2.4.1. Business Model Canvas .................................................................................... 22
2.4.2. Profit Calculator ................................................................................................ 24
2.5. I want to discuss my business ............................................................................... 24
2.5.1. SWOT Analysis ................................................................................................ 24
2.5.2. Business Model Canvas .................................................................................... 25
Step 3. I want to grow my business ................................................................................ 27
3.1. I want to reach my customers .............................................................................. 27
3.1.1. Persona .............................................................................................................. 27
3.1.2. Marketing Cards ............................................................................................... 27
3.1.3. Marketing Mix .................................................................................................. 28
3.2. I want to develop a viable business ...................................................................... 29
3.2.1. Value Builder .................................................................................................... 29
3.2.2. Business Model Metrics ................................................................................... 30
3.2.3. Return On Investment Calculator ..................................................................... 31
3.3. I want to explore new markets ............................................................................. 32
3.3.1. PESTLE Analysis ............................................................................................. 32
3.3.2. Porter's Five Forces........................................................................................... 32
3.3.3. SWOT Analysis ................................................................................................ 33
3.4. I want to discuss my business ............................................................................... 35
3.4.1. SWOT Analysis ................................................................................................ 35
3.4.2. Business Model Canvas .................................................................................... 36
3.5. I want to explore new ways of making money .................................................... 36
3.5.1. Business Model Canvas .................................................................................... 36
3.5.2. Business Model Cards ...................................................................................... 37
3.5.3. Business Model Canvas .................................................................................... 37
Step 4. I want to make my business profitable ............................................................. 39
4.1. I want to know my customers .............................................................................. 39
4.1.1. Persona .............................................................................................................. 39
4.1.2. Focus Group ...................................................................................................... 39

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 4.1.3. Persona .............................................................................................................. 40
4.2. I want to improve my offering ............................................................................. 41
4.2.1. Customer Journey ............................................................................................. 41
4.2.2. Competitor Analysis ......................................................................................... 42
4.2.3. Value Builder .................................................................................................... 43
4.3. I want to convince partners .................................................................................. 44
4.3.1. Partner Radar .................................................................................................... 44
4.3.2. Partner Value Matrix ........................................................................................ 45
4.4. I want to increase efficiency ................................................................................. 46
4.4.1. Process Journey................................................................................................. 46
4.4.2 Deadly Waste Canvas ........................................................................................ 47
4.5. I want to explore new ways of making money .................................................... 48
4.5.1. Business Model Canvas .................................................................................... 48
4.5.2. Business Model Cards ...................................................................................... 49
4.5.3. Business Model Canvas .................................................................................... 50
Conclusion ........................................................................................................................ 51

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 INTRODUCTION
With the rising awareness of health and nutrition, the market of healthy foods is
booming. Healthy foods offer a variety of benefits to their consumers, including improved
mental clarity, increased energy levels and weight loss. The demand for healthier options
has resulted in an abundance of products available on the market that are designed to meet
those needs. In order to appeal to a broader customer base, many companies are now
offering organic and natural products. Organic foods are grown without the use of any
chemical fertilizers, pesticides or growth hormones, resulting in fewer artificial ingredients
and preservatives. This ensures that customers receive only pure, naturally produced food.
As many people look to consume fewer processed and high-calorie foods, naturally based
products are becoming more popular. Consumers are also showing growing interest in
locally sourced and sustainable ingredients, reflecting current trends towards healthier
living.
When it comes to maintaining a healthy lifestyle, good nutrition cannot be
overlooked. A balanced diet, comprising a variety of nutrient-rich foods from all food
groups, is what our body needs to be healthy and function at its best. Sticking to a healthy
diet starts with understanding what types of food are necessary to provide essential
nutrients. Eating healthy helps us to stay energized, keep our body weight at a healthy level,
and prevent chronic conditions like diabetes and heart disease. Furthermore, proper
nutrition can also strengthen our immune system and reduce the risk of developing several
types of cancer.
Candy consumption has been increasing steadily in recent years. A healthy candy
business provides an alternative to the traditional sugary treats that are so prevalent in our
culture. By offering healthier alternatives that still taste great, it allows consumers to satisfy
their sweet tooth without overindulging in sugar. Additionally, a healthy candy business
can tap into a growing trend of consumers who are looking for healthier snacks. With the
rise of organic food, health food stores, and alternative diets, there is now a greater demand
for healthier snacks than ever before.
When starting a healthy candy business, it is important to create products that are
both delicious and healthy. The appeal of candy is that it is quick and easy to consume, so
it’s important to make sure the products you create adhere to these principles. It is also
important to think of innovative ways to market the healthy candy business. Creative
packaging, use of social media, and product sampling are all effective approaches for
introducing the public to your products. When starting a healthy candy business, it is
essential to consider the financial side of things. Researching the various costs associated
with getting started (such as equipment, ingredients, and labor) can be beneficial in helping
to create a budget and ensure the financial sustainability of the business. Additionally,
determining pricing models and researching the competition can help in creating an
effective marketing strategy that sets the brand apart from its competitors.

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 STEP 1. I WANT TO START MY BUSINESS
1.1. I want to understand my customers
1.1.1 Persona
A Persona is a typical customer that purchases our products. Here we take Tina as
a prime example for our target customer. She is an active, creative elementary school
student who loves sweets and often participates in outdoor activities. In addition, she also
likes to watch toys and craft videos on Youtube Kid and often goes to the supermarket to
shop for toys, candy and clothes on weekends.

1.1.2. Focus Group

From analyzing the profile, personality, interests, and habits of a typical customer,
we have summarized the target customer group with the following interests, pains, and
gains:

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1.2. I want to develop a viable business model
1.2.1. Value Builder
The added value of the product needs to match the needs of the customer. Our
customers are primary and secondary school students, they like to eat delicious and eye-
catching candies, but their parents are worried that the chemical ingredients in the candy
will negatively affect their health. Understanding this, we provide candies with ingredients
that are good for children's health such as organic materials, nuts and so on. In addition,
our customers are very active and creative, so we offer handmade candy making services
and children are free to make and decorate candies according to their preferences.

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1.2.2. Return On Investment Calculator

Unit: thousand VND.

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1.3. I want to implement my new business
1.3.1. Business Model Canvas

1.3.2. Business Roadmap

The 10 founding members will be divided into in charge of the stages from
production, operation to sales as follows:

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1.4. I want to test the attractiveness of my products/ideas
1.4.1. Thinking Hats
We use the Thinking Hats model to analyze business ideas in terms of feasibility,
possible problems, and contingency ideas.

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1.4.2. Focus Group
After accurately identifying the target customer group and business idea, we need
to do more in-depth research on the actual market and customer group to check the
feasibility of products and services when launching into business.

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1.5. I want to explore new market
1.5.1. PESTLE Analysis

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1.5.2. SWOT Analysis

1.5.3. Porter’s Five Forces

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 STEP 2. I WANT TO TEST MY BUSINESS
2.1. I want to test the attractiveness of my product or idea
2.1.1. Thinking Hats
Thinking Hats helps our businesses evaluate things from many perspectives to make
better decisions for new ideas. Specifically, when using a white hat, we will evaluate the
business model objectively. Yellow hats help us see the benefits that businesses can bring
to customers such as providing healthy handmade candies, helping customers create their
own candies according to their preferences. The black hat allows us to assess the risks and
shortcomings that businesses are likely to encounter. When we wear red hats, we will judge
the problem of the business based on the intuition and emotions of the customer. Finally,
green hats help us think of new ideas and find creative solutions to problems.

2.1.2. Focus Group

Focus Group is made to collect customer feedback about healthy customized
handmade candy ideas. From there, we can better understand the needs, desired selling
prices and real preferences of customers. Two main groups of subjects, middle-class
families with young children and young children, will be asked about the activities that
businesses are about to create for them (scripts). Through this, we can get customer

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feedback on how they feel about the healthy handmade candy business model. Specifically,
the benefits (gains) and the pain, the disadvantages (pains) in the business model will be
discovered. From there, businesses can modify and improve their business model.

2.1.3. Business Model Metrics

Business Model Metrics help us to monitor the performance of our healthy
handmade candy business. We choose 7 key metrics to measure the success of our business:
Revenue, Gross profit margin, Customer acquisition cost, Customer lifetime value, Product
diversification, Brand recognition, Market share.
In which, Revenue is a key indicator of the overall health of the business to measure
growth over time. Profit index will be measured by Gross profit margin, the cost index to
acquire a new customer is calculated through CAC and the cost that customers are willing
to pay for healthy candy products will be calculated in CLV. The remaining metrics will
measure product diversity, level of awareness and the percentage of the market.

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2.2. I want to test whether my business is futureproof
2.2.1. Business Model Canvas
The Business Model Canvas helps to visualize our business model since it outlines
the ways in which our company creates, delivers, and captures value. It creates a shared
understanding of what our business actually is and does. The Business Model Canvas
consists of nine basic building blocks which reflect the different parts of the company. This
model is comprised with 9 parts namely Customer segments, Value & Services, Channels,
Customer relationships, Revenue structure, Key resources, Key activities and Cost
structure. In addition to the manufacturing and selling of handmade sweets, we also collect
revenue and profit from novel activities such as workshops and franchises.

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2.2.2. PESTLE Analysis
Each letter in the word PESTLE stands for a category of factors (which are external
factors including Political, Economic, Social, Technological, Legal and Environmental)
that have an impact on our business. With a clear overview of these factors we can better
understand the position and potential of our healthy handmade candy business in the
market. Of all factors can affect in a negative way, but they can also represent opportunities
for business growth. According to PESTLE analysis, our business will take advantage of
opportunities from Social with lifestyle changes to develop a novel business model.
Besides, pressures from Economics and Technological will also be focused.

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2.2.3. Business Model Stress Test
Business Model Stress Test is a tool to test if our business is future proof and check
how changes in the world will impact our business. The model will analyze our company
through answering the Who, What, How and Why questions.
To answer the questions, we selected two important developments: Products are sold online
(development 1) and On-site candy making machines located in supermarkets
(development 2). Then we color-coded to get a clear view of the impact of the development.
In which, Red indicates that this part of our company is no longer viable, Orange indicates
that this part is no longer profitable, Green indicates that this element of our company is
strengthened by the development and White means there is little to no impact.

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2.3. I want to increase efficiency
2.3.1. Process Journey
The workflow of our healthy handmade candy business is demonstrated through
Process Journey. Activities are divided into 2 cases when customers order takeout and
when they want to customize their own candy. For taking out order, the process will go
through stages such as: create invoice, pass on order, prepare ingredients, make candy and
serve to customers. All these activities will be performed by staff. For customers who want
to customize their own candy, the process will go through stages such as: write down
customer's information, confirm customer's appointment, create invoice, pass on order,
prepare ingredients, prepare tools, make candy and serve to customers.

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2.3.2. Deadly Wastes Canvas
Using Deadly Wastes Canvas helps us to identify the sources and causes of waste
in our process. Specifically, defect waste can come from overcooking or burning in make
candy process. Overproduction and inventory waste can be traced back to the material
preparation stage. Waiting waste comes from the create invoice, prepare ingredients and
package candy process. Miscommunication waste is likely to appear in write down
customer information and pass on the order process. Finally, skill waste is said to occur at
all stages if the staff is not properly trained. From the analysis of the wastes present in the
process, we can come up with timely preventive and remedial measures if such a situation
occurs.

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2.4. I want to test whether my business is financially sound
2.4.1. Business Model Canvas
The Business Model Canvas helps to visualize our business model since it outlines
the ways in which our company creates, delivers, and captures value. It creates a shared
understanding of what our business actually is and does. The Business Model Canvas
consists of nine basic building blocks which reflect the different parts of the company. This
model is comprised with 9 parts namely Customer segments, Value & Services, Channels,
Customer relationships, Revenue structure, Key resources, Key activities and Cost
structure. In addition to the manufacturing and selling of handmade sweets, we also collect
revenue and profit from novel activities such as workshops and franchises.

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2.4.2. Profit Calculator

Unit: thousand VND.

2.5. I want to discuss my business
2.5.1. SWOT Analysis
SWOT is a popular tool which helps you to be more aware of your own company
and recognize what is happening around your company. Based on SWOT, we realize the
strength of this business is that there are not many models of healthy handmade candy
appearing in Vietnam. We also found the weak points of the business as the brand has no
reputation, the risk of customers being allergic to ingredients, etc. However, our business
also has many opportunities such as: the expected strong growth of F&B industry after
Covid-19 or the brand is easily known because of few competitors. Besides, Threats such
as low revenue in the early stage and future increase in competitors are also analyzed so
that we can come up with many countermeasures.

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2.5.2. Business Model Canvas
The Business Model Canvas helps to visualize our business model since it outlines
the ways in which our company creates, delivers, and captures value. It creates a shared
understanding of what our business actually is and does. The Business Model Canvas
consists of nine basic building blocks which reflect the different parts of the company. This
model is comprised with 9 parts namely Customer segments, Value & Services, Channels,
Customer relationships, Revenue structure, Key resources, Key activities and Cost
structure. In addition to the manufacturing and selling of handmade sweets, we also collect
revenue and profit from novel activities such as workshops and franchises.

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 STEP 3. I WANT TO GROW MY BUSINESS
3.1. I want to reach my customers
3.1.1. Persona
A Persona helps us to better understand and visualize our target customers. by
describing the personality, interests, pains, goals and behaviour of a typical customer. With
a Persona, it is easier to make deliberate decisions about developing and targeting the
product or service. As the chart depicts, Tina is an example of a typical customer and also
one of the two target customer groups that our company targets. To create a lively Persona,
we have collected detailed information about customer demographics, their needs,
interests, preferences and shopping behaviour in order to easily navigate business activities
such as building communication messages, developing products or customer services.

3.1.2. Marketing Cards

The Marketing Cards include all that is needed to create the best message for
customers. The cards are divided into six groups such as the format, content and main
emotional line of the message, the channels for distributing our message, the goals or even
the metrics for measuring success. Especially, each card can give an example of the way
we could build an appropriate message and better reach our customers. Using this tool can

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inspire us in creating the message or the way we convey those for our customers as well as
potential customers.

3.1.3. Marketing Mix

The Marketing Mix model consists of at least four P’s which are Product, Price,
Place and Promotion. The Marketing Mix is fundamental to shaping our marketing plans
and strategies for our products and services. A good analysis of each element in this model
will help build and develop a comprehensive marketing plan and strategy for products and
services, from pricing strategy to distribution and trade promotion. As analyzed, we will
emphasize product and promotion strategy to increase brand identity as soon as possible.
With a clear strategy we make sure that customers can easily find and reach our product or
service.

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3.2. I want to develop a viable business
3.2.1. Value Builder
The Value Builder helps us to improve as well as develop our product or service to
better fit with the needs and wishes of the customers. Especially, the insights that the Value
Builder provides may help to make our product or service more attractive for the market.
The unique value that we bring to our customers lies not only in nutritious desserts or the
process of personalizing sweets to their preference but also in maintaining a healthy
lifestyle, caring about products of organic origin. Customers coming to us can not only
protect their health but also join hands to support organic products, reduce plastic waste
into the environment since we all use eco-friendly materials for product packaging.

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3.2.2. Business Model Metrics
Business Model Metrics help us to monitor the performance of our healthy
handmade candy business. We choose 7 key metrics to measure the success of our business:
Revenue, Gross profit margin, Customer acquisition cost, Customer lifetime value, Product
diversification, Brand recognition, Market share.
In which, Revenue is a key indicator of the overall health of the business to measure
growth over time. Profit index will be measured by Gross profit margin, the cost index to
acquire a new customer is calculated through CAC and the cost that customers are willing
to pay for healthy candy products will be calculated in CLV. The remaining metrics will
measure product diversity, level of awareness and the percentage of the market.

30
3.2.3. Return On Investment Calculator

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3.3. I want to explore new markets
3.3.1. PESTLE Analysis
Each letter in the word PESTLE stands for a category of factors (which are external
factors including Political, Economic, Social, Technological, Legal and Environmental)
that have an impact on our business. With a clear overview of these factors we can better
understand the position and potential of our healthy handmade candy business in the
market. Of all factors can affect in a negative way, but they can also represent opportunities
for business growth. According to PESTLE analysis, our business will take advantage of
opportunities from Social with lifestyle changes to develop a novel business model.
Besides, pressures from Economics and Technological will also be focused.

3.3.2. Porter's Five Forces

Understanding the strength of our competitive position is made easier with the
assistance of Porter's Five Forces. In this model, we outline what the existing competition
is, where the threats of new entrants or substitute products are, and what the bargaining
power of suppliers or buyers is. With a clear understanding of the five forces we can take
advantage of our strengths and address weaknesses. Although there is a competitive
disadvantage as we are a new and young brand, we are confident that our novel business
model and clean, organic ingredients will create our strengths.

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3.3.3. SWOT Analysis
SWOT is a popular tool which helps you to be more aware of your own company
and recognize what is happening around your company. Based on SWOT, we realize the
strength of this business is that there are not many models of healthy handmade candy
appearing in Vietnam. We also found the weak points of the business as the brand has no
reputation, the risk of customers being allergic to ingredients, etc. However, our business
also has many opportunities such as: the expected strong growth of F&B industry after
Covid-19 or the brand is easily known because of few competitors. Besides, Threats such
as low revenue in the early stage and future increase in competitors are also analyzed so
that we can come up with many countermeasures.

33
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3.4. I want to discuss my business
3.4.1. SWOT Analysis

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3.4.2. Business Model Canvas

3.5. I want to explore new ways of making money

3.5.1. Business Model Canvas
The Business Model Canvas helps to visualize our business model since it outlines
the ways in which our company creates, delivers, and captures value. It creates a shared
understanding of what our business actually is and does. The Business Model Canvas
consists of nine basic building blocks which reflect the different parts of the company. This
model is comprised with 9 parts namely Customer segments, Value & Services, Channels,
Customer relationships, Revenue structure, Key resources, Key activities and Cost
structure. In addition to the manufacturing and selling of handmade sweets, we also collect
revenue and profit from novel activities such as workshops and franchises.

36
3.5.2. Business Model Cards

3.5.3. Business Model Canvas

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 STEP 4. I WANT TO MAKE MY BUSINESS PROFITABLE
4.1. I want to know my customers
4.1.1. Persona
Through our research on one of our main target group customers, we had processed
information and had this “Persona” chart done. We take the persona of a 6 years old girl in
Ho Chi Minh City that is in elementary school and is a very active kid to her age. She is
very vivacious, playful, imaginative and sociable, besides that she also usually spends time
with her parents, go shopping with them in supermarkets, shopping malls for mostly stuff
like candy, toys, etc. Like kids these days, she likes watching colourful and fun Youtube
videos about toys, making easy colourful food and candy. With all of this in mind, we hope
to create and craft our start-up to meet and attract these young customers along with their
parents.

4.1.2. Focus Group

To gain more intel about our customers with real-life data, we conduct a focus group
survey with the details about how we will conduct it, the participants, the context of it, and
our goal on the “Preparation” side and the intel we had gathered on the “Results” side. It
is then categorised into the three “Gain” which talk about rather positive information about

39
our business, “Pain” is the negative information about our start-up and the most interesting
intel is called “Most interesting/striking insights”. With all of these abundance and striking
insights, we will do some adjustment to strengthen our “Gains”, fix some of our “Pains”,
and utilize the most out of the “most interesting insights” to our benefits.

4.1.3. Persona
To get to know more about our biggest customer groups, we had done insights
digging and brainstorming to create this “Persona” chart. We take the Persona of a 6 year-
old girl in Ho Chi Minh City that is in elementary school and is a very active kid to her
age. We will take into account a lot of the aspects around her life like her “Bio”, her
“Personality”, “Preferred channel” that she usually used to consume information, her
“Brand” awareness and even her “Interests”. Gathering and categorizing those insights is
mainly to help us with our decision making, in order to not just bring the best and most
suited product to them, but to attract and know how to bring our product to the hand of our
customer in the most effective way.

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4.2. I want to improve my offering
4.2.1. Customer Journey
When you want to sell something, the most important thing you need to have much
thought about is your customers, their needs, their expectations, etc. But one of the main
things that a lot of people don't give enough attention to is the “customer journey”, how
they get to the location, who they will be contacting with, their thoughts and emotions
when they are there. How will the customers experience the service you provided to them,
starting from when they see your store, come inside to receive what they have purchased.
Everything is needed to plan out and carefully take notes to see what we can improve, in
order to provide our customers the best of the best, and in the process attract more potential
new customers.

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4.2.2. Competitor Analysis
Improvement comes from within, but knowing your enemies and yourself will help
you win a thousand battles. This is why doing proper competitor analysis is so important.
Doing this not only helps us understand our competitor strengths and weaknesses, but also
helps us know what we can do to make us more unique, standout compared to our rivals
with the “most important findings” category. In the meanwhile, we can use this to improve
our weaknesses with their strengths and also make decisions, to avoid or mitigate the
weaknesses our rivals face, to better stand our ground in the race for customer superiority
in the industry.

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4.2.3. Value Builder
Doing a value builder to better evaluate whether our products have met the demand
of our customers is crucial for any business, just one miss calculation can make the product
go South. With our analysis being categorized and carefully written into “customer group”,
“needs of customers”, “goals of customer” and “benefits”, “product of service” gives us a
very clear image of our business on the subject of value builder. Which brings us to the
conclusion that our business’s candy has fully met the needs of taste, shape and especially
the nutritional quality. In addition to the fact that we also provide handmade candy services
to satisfy the needs of our customer - children,'s personality.

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4.3. I want to convince partners
4.3.1. Partner Radar
To run a business smoothly, we need to know what will make us consider a lot when
it comes down to decision making, and in order to know that, we need to make a “partner
radar” evaluation. We analyzed categorized and identified a lot of factors that could
influence our business and divided them into “great influence”, “limited influence” and
“little influence” factors. With this, we will know what will affect our business the most,
the least and everything in between, which greatly helps us to make adjustments or have a
priority on thinking out solutions to the problems occurring on any of these factors
according to their importance to our business.

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4.3.2. Partner Value Matrix
Like mentioned above, identifying our “partner” is very important to any business,
and to further utilize it, we also make a “partner value matrix” evaluation. With all of the
details being listed like the name of the partner, what do they bring to the table for us, and
in return what will they get from providing services to us. These are all needed to be
carefully thought out and analyzed. If this part was well executed, it will help us a lot when
balancing our finances, or if something occurs to our current partner or there is another
good option to replace them when the time is needed, then this will do wonders for us to
make those decisions.

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4.4. I want to increase efficiency
4.4.1. Process Journey
Like we have done above, the journey of how the customers come to the store and
receive their products is a very important part. Now we will go into details on how the
customer will be served, and receive the end result products with the “process journey”.
Having this done will help the staff have a clear understanding of procedure details on how
to assist, make the product, sell them and overall provide a good experience for the
customers. Not only that but this also helps us in managing and visualizing our way of
serving the customers, to know what they receive from us, to make changes in order to
provide customers with the best.

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4.4.2 Deadly Waste Canvas
While running a business, having mistakes or errors somewhere in the whole system
is inevitable, so to minimize the damage caused by those errors, we have done the “Deadly
Waste Canvas” to write down some big major things that can go wrong. Then analyze it
with different parts like where in the process it will likely occur, what causes it and the
solution, all to help us deal with it more effectively, but more importantly is to minimize
the frequency of it ever occurring. Execute this beautifully and we could lower our losses
on money, unnecessary waste and overall, give the customer the smoothest experience, fun
and worth their time, money and energy as possible.

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4.5. I want to explore new ways of making money
4.5.1. Business Model Canvas
No company can solely rely on just one product to sustain their company, and our
start - up certainly cannot escape that, so that is why we have done the “Business Model
Canvas” analysis. In the chart, we analyzed “Key partners”, “Key Activities”, “Key
Resources”, “Value Proposition”, “Customer Relationships”, “Customer Segments”,
“Channels”, “Cost Structure”, “Revenue Structure” with some details description below it,
all is to help us have a big view of our business, how and which path can we choose to
grow and expand. Not only that, we can use this to better evaluate our business and make
decisions in order to drive the quality of the product we do up, help more customers get
access to our goods, maybe cut some unnecessary cost and many more.

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4.5.2. Business Model Cards
After analyzing the “Business model canvas”, we then go to the “Business model
cards”, in this part, we will come up with our ideas and evaluate them, to see whether those
ideas are possible or not, will their possible outcome benefit our current business or not,
etc. We also use this to think up ideas that could help solve some of our current weaknesses
and attract more customers to us, or just simply to ensure that they would come again after
their first experience at our service, thus driving our sales up. We had also planned to do
special events on occasion like International Children's Day (June 1), the Mid-Autumn
Festival, etc, to better attract our main group of customers more.

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4.5.3. Business Model Canvas

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 CONCLUSION
The healthy candy business has a huge potential for growth. With more people
turning away from traditional sugary treats, healthier alternatives are becoming
increasingly popular. Consumers are increasingly looking for healthier options in the form
of snacks, and the healthy candy business is well-positioned to take advantage of this trend.
Companies in this space can capitalize on the fact that consumers are seeking out healthier
snacks and offer products that are both tasty and nutritious.
Second, the health industry is also growing and becoming increasingly important in
our daily lives. With more people focusing on nutrition and their overall health and
wellbeing, the demand for healthy alternatives to traditional snacks is growing rapidly.
Companies in the healthy candy business should continue to focus on creating innovative
and nutritious offerings that not only satisfy the taste buds, but also meet the nutritional
requirements of consumers.
Third, technology is also playing an increasingly important role in the healthy candy
business. Companies should use technology to create products with additional benefits,
such as better shelf life, lower cost production, and new delivery methods. Technology can
also be used to track customer preferences and create personalized experiences for
customers.
Fourth, sustainability should be a key focus for companies in the healthy candy
business. While the focus is often on healthy options and convenience, sustainability
should also be taken into consideration. Companies should focus on using sustainable
packaging materials and sourcing ethical ingredients that are produced ethically and
environmentally friendly.
Finally, partnerships and collaborations should also be considered to help expand
and grow the healthy candy business. Partnerships with other companies in the industry, as
well as collaborations with nutritionists, dieticians, chefs, or influencers, can help
companies create unique and innovative offerings that are sure to stick with customers.

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