THE UNIVERSITY OF DANANG

UNIVERSITY OF ECONOMICS

BUSINESS PROPOSAL

THE PHOTO SHOP

Class : TOU1901_48K01.2-E
Course : Business Communication
Lecturer : Thái Thị Huyền Trâm
Group : 1
Student name Student ID
1. Bùi Hiểu Lân 221121699210
2. Nguyễn Thị Thanh Vui 221121699225
3. Nguyễn Thanh Thủy Tiên 221121699221
4. Huỳnh Lê Như Hảo 221121699206
5. Nguyễn Hoàng Ly Na 221121699211

Da Nang, 2024
 TABLE OF CONTENTS
I. Identify the problem........................................................................................................1

II. Purpose - project goals....................................................................................................1

III. Target customers..........................................................................................................2

1. Young Adults in Da Nang (18-30 years old): 50%.....................................................2

2. Tourists: 30%...............................................................................................................2

3. Photoholics & Trend Chasers: 20%............................................................................2

IV. Description of selected products/ services...................................................................3

1. The Photo Shop offers a premium photo booth experience with the following
features:...............................................................................................................................3

2. The Photo Shop offers a variety of photo booth packages to suit your needs and
budget..................................................................................................................................4

V. Evaluate standards for market entry................................................................................6

1. Scale and level of growth............................................................................................6

2. Profit Potential Competitiveness.................................................................................6

3. Cost structure...............................................................................................................8

VI. Implementation plan..................................................................................................10

1. Phase 1: Preparing for facilities....................................................................................10

2. Phase 2: Prepare for grand opening...............................................................................10

3. Phase 3 (Ongoing): Marketing and feedback – From 15/8/2024..................................10

4. Sales and Marketing Plan (Launch day).......................................................................11

5. Conclusion:...................................................................................................................12
 TABLE OF FIGURES
Table 1: Market share of the photo booth industry....................................................................5
Table 2: Cost structure of the Photo Shop.................................................................................8
 I. Identify the problem
There is a shift happening in the Vietnamese market, particularly among young adults,
when it comes to taking photos. The traditional photo stations, which often feature
static backdrops and basic props, are no longer completely satisfying the demand for
interactive and engaging experiences. Young people are looking for a solution that
goes beyond staged photographs and allows them to document candid, fun moments
with their friends. This changing demand presents an opportunity for the photo booth
market in Da Nang.

A new generation of photo booths, inspired by a currently popular trend in South

Korea, can offer a more dynamic experience for young adults in Da Nang. These
photo booths would incorporate interactive features, unique and customizable
backdrops, and innovative props that would transform photo-taking into a social and
memorable event. This innovative approach would cater to the desire for more
authentic and candid capture, allowing young adults to capture the true essence of
their gatherings.

While this trend has gained significant traction in South Korea, it has not yet caught
on in Da Nang, presenting a unique opportunity for early adoption. By embracing this
new wave of photo booth technology, this project could be one of the early movers in
the photo booth market. Interactive photo booths have the potential to create lasting
memories, foster social interaction, and further solidify Da Nang's image as a vibrant
and innovative destination.

II. Purpose - project goals

The Photo Shop aims to elevate every single photo by providing an interactive and
entertaining photo booth experience that generates lasting memories for our
customers. We offer a unique combination of high-quality photo technology, engaging
props, and personalized touches to make every photo special.
Specific goals of the project
 Customer Acquisition and Growth:

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Increase brand awareness: Reach 5,000 people on Instagram and Facebook through
targeted advertising campaigns within the next 3 months.
 Customer Experience:
Achieve a customer satisfaction rating of at least 90% based on feedback collected
through post-grand opening surveys within 6 months.
 Financial Goals:
Generate approximately 100 million VNĐ in revenue within the first 3 months of
operation.
 MISSION STATEMENT
The Photo Shop: “To spark joy and lasting memories at every photo by providing an
interactive and personalized photo booth experience”.
 VISION STATEMENT
“To Be Da Nang's Premier Destination for Capturing Unforgettable Moments.”
III. Target customers
Three primary customer segments
1. Young Adults in Da Nang (18-30 years old): 50%
This is likely the largest target group as it represents a significant portion of Da Nang's
population and aligns well with the desire for interactive photo experiences and social
media sharing.
2. Tourists: 30%
Our project is based on Da Nang, which is a popular tourist destination, and many
tourists would be attracted to a photo booth capturing memories of their trip.
However, this segment might fluctuate depending on the tourism season.
3. Photoholics & Trend Chasers: 20%
This niche segment is highly interested in unique photo opportunities and following
the latest trends. Photo booths with special features or trendy backdrops can attract
this group.

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IV.Description of selected products/ services
1. The Photo Shop offers a premium photo booth experience with the
following features:
 Sleek and Modern Booth: Our portable photo booth is compact and visually
appealing. We will decorate the concept according to each
monthly and seasonal theme. For example, during holidays
like Christmas or Halloween, create themed backdrops,
props, and hashtag challenges specific to the occasion.
Besides that, we utilize recessed lighting or track lighting
for a clean and uncluttered look. Integrate LED lights that
bring a magic vibe but enough lighting for taking photos.

 High-Resolution Photography: We use the Nikon D5600 camera with its

24.2-megapixel sensor and EXPEED 4 image processor so photos can expect
top-notch quality. Plus, the 39-point
autofocus system ensures that your
photos are always crisp and clear. Guests
will receive high-quality digital photos
instantly via email or social media
sharing like Facebook or Zalo.

 Interactive Touchscreen: The user interface is clean and minimalist, with

large, easily identifiable icons for filters, overlays, and text options. Animations
and subtle haptic feedback (a slight vibration) can be used to confirm
selections. Users can personalize their photos with a
variety of filters, overlays, and text options.
 Prop Box of Fun: A collection of accessories that can
help customers create more memorable moments. For
example, create seasonal prop boxes with trendy and
festive props. (e.g., Santa hats, reindeer antlers for
winter holidays, beach balls, and sunglasses for

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 summer). We also provide classic fun like oversized sunglasses, feather boas,
funny hats, and conversation bubbles.
 Customizable Backdrops: We offer various backdrop options, including solid
colors, and thematic designs. More specifically, for thematic design options,
(Customizable Templates) we provide pre-made templates with editable
elements like colors, fonts, and graphics for a semi-customizable option. (Size
Options) Besides that, we also offer a variety of backdrop sizes to cater to
different needs. (Technology Integration) Offer augmented reality (AR)
overlays that add a digital layer to the backdrop, creating a dynamic and
engaging experience (think animated characters or special effects).
 Beauty Optionals: we provide make-up items and hairdressing tools for
customers to have a perfect appearance when taking photos.
2. The Photo Shop offers a variety of photo booth packages to suit your
needs and budget.
 Classic Package:
 50k/time - 100k/ 2 times
- Perfect for people on a limited budget.
- Includes basic backdrop options, a selection of fun props, and limited-time
- Guests receive double-printed photo strips or digital downloads.
 Premium Package: 65k/time - 120k/2 times
- Expands on the Classic Package with a longer time more backdrop choices, and
a wider variety of premium props.
- Include features like customizable photo borders or a digital guestbook.
 VIP Package:80k/time -150k/2 times
- Have many options to choose
- Designed emoji to add an extra "wow" factor in your photos.
- Includes everything in the Premium Package, plus access to cutting-edge
features like overhead photobooths with 0.5x.

- Special Package:
 Perfect for those who want to take photos with idols.

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 Design a custom package tailored to a specific theme.
 You can choose features from across our range, including backdrops, props,
and interactive elements, and also receive a small album to store the photos
taken.
V. Evaluate standards for market entry
1. Scale and level of growth

Table 1: Market share of the photo booth industry

2. Profit Potential Competitiveness
a. Profit Potential

 Revenue Streams
- Additional Services: Offering supplementary services such as photo
customization, branded merchandise sales, and premium backdrop upgrades
can contribute to additional revenue. Assuming an average of 100,000 VND
per one time in supplementary services revenue.
- Digital Sales: Selling digital copies of photos and GIFs to customers or offering
online photo galleries for purchase can generate additional revenue. Assuming
an average of 100,000 VND in digital sales per one time.
- Expected revenue: 30.000.000 - 40.000.000 VND per month

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 => 360.000.000 - 480.000.000 VND per year

Achieve break-even point in 1 year and 2 months.

 Pricing Strategy (expected to use)

Employing a competitive pricing strategy aligned with market rates while ensuring
profitability is crucial. Considering the average rental rate and supplementary
service fees, our pricing strategy should balance affordability and value
proposition.

- Revenue Diversification: Maximizing profit potential requires diversifying

revenue streams beyond traditional event rentals. This entails offering
supplementary services such as photo customization, branded merchandise, and
digital photo sharing platforms. By leveraging multiple revenue streams,
photobooth businesses can mitigate reliance on seasonal demand fluctuations
and optimize revenue generation throughout the year.
- Cost-Benefit Analysis: A meticulous cost-benefit analysis is indispensable for
ascertaining the profit potential of a photobooth venture. This involves
delineating fixed and variable costs associated with equipment procurement,
operational overheads, marketing expenses, and personnel salaries. By
meticulously analyzing cost structures and identifying opportunities for cost
optimization, stakeholders can enhance profitability margins and mitigate
financial risks.
- Competitive Pricing Strategy: Crafting a competitive pricing strategy entails
striking a balance between profitability and market competitiveness. This
necessitates evaluating pricing elasticity, benchmarking against industry peers,
and aligning pricing strategies with perceived value propositions. Additionally,
implementing dynamic pricing mechanisms and offering tiered pricing options
can cater to diverse customer segments and optimize revenue capture.

b. Competitiveness

The Photo Shop distinguishes itself through a trio of compelling competitive

advantages, positioning itself as a standout player in the photo booth market. Firstly,

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our diverse range of options elevates the photo booth experience to new heights. With
our unique camera-from-above setup, customers can capture stunning aerial shots,
adding an innovative twist to their photo sessions. Moreover, we offer the exclusive
opportunity for customers to take pictures alongside their favorite idols, making their
photo booth experience truly memorable and personalized. These varied options cater
to a wide range of preferences, ensuring that every customer finds something special
at The Photo Shop.

Secondly, we pride ourselves on offering competitive prices without compromising on

quality. In a market where affordability often comes at the expense of value, we stand
out by providing exceptional service at accessible prices. By maintaining cost-
efficiency without sacrificing customer satisfaction, we make the photo booth
experience accessible to all, appealing to budget-conscious individuals without
compromising on the quality of our offerings.

Lastly, our inclusion of makeup products available at the counter adds a unique
dimension to our photobooth services. Customers have the opportunity to enhance
their appearance before their photoshoot, ensuring they look and feel their best in front
of the camera. This convenient and value-added service not only enhances the overall
customer experience but also sets us apart as a one-stop destination for all their
photobooth needs. With The Photo Shop, customers can enjoy a seamless and
comprehensive experience, from preparation to the final snapshot, making their visit
truly unforgettable.
3. Cost structure
The cost structure table below appears to outline various expenses associated with
starting and maintaining our project. The table lists different categories of costs along
with estimated ranges for startup costs (initial investment) and ongoing/maintenance
costs (monthly expenses) in Vietnamese Dong (VND).

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Category Startup Costs Ongoing/Maintenance Costs (per
(VND) month) (VND)

Market Research and 20,000,000 - -

Business Plan Development 30,000,000

Legal and Licensing Fees 12,000,000 - -

15,000,000

Location and Lease - 20,000,000 - 57,500,000

Equipment 300,000,000 - -
500,000,000

Marketing and Advertising 50,000,000 - 10,000,000 - 15,500,000

80,500,000

Staffing - 45,000,000 - 80,000,000

Training and Development 20,500,000 - 3,500,000 - 5,000,000

34,500,000

Inventory and Supplies 10,750,000 - 5,750,000 - 11,500,000

17,500,000

Accounting and Financial 13,000,000 - 8,000,000 - 15,000,000

Services 15,000,000

Website Maintenance 16,850,000 - 1,150,000 - 3,450,000

18,200,000

Software Upgrades - 2,550,000 - 5,500,000

Overall Backup Cost 500,000,000 -

Table 2: Cost structure of the Photo Shop

VI.Implementation plan
1. Phase 1: Preparing for facilities

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 15/4/2024 - 20/6/2024: Secure initial equipment and supplies

 Place orders for photo booths, cameras, printers, and accessories based on
anticipated demand and budget

 Arrange furniture, props (đạo cụ), and accessories in an organized and

accessible manner to facilitate guest interactions and photo sessions.

 Prepare some tools for customers to groom their images (comb, curling, make
up…)

5/6/2024 - 20/6/2024: Develop marketing materials (website, social media

presence, brochures)

 Create promotional materials such as flyers, brochures, and posters

highlighting the photo booth services, packages, and special offers.

 Utilize social media platforms, email newsletters, and website content to

showcase photo booth setups, customer testimonials.

2. Phase 2: Prepare for grand opening

 20/6/2024 - 28/7/2024: Hiring and training staff on photo booth operation and
customer service: Train staff members to greet customers, provide verbal
instructions on using the photo booth and assistance or support to customers
experiencing technical difficulties

 15/8/2024: Grand opening

3. Phase 3 (Ongoing): Marketing and feedback – From 15/8/2024

 Launch marketing campaigns to generate leads: Promote a comprehensive

marketing strategy encompassing online and offline channels to reach target
customers.

 Encourage customers to provide reviews and feedback on their photo booth

experience through online platforms, surveys, or comment cards → Monitor
customer feedback and refine service offerings based on demand.

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 Expand marketing reach to attract new customer segments.

4. Sales and Marketing Plan (Launch day)

a. Social Media:
 Promote marketing campaigns through attractive, shareable content on
platforms like Instagram, Facebook, and Twitter. Use relevant hashtags
to reach your target audience.
 Holiday: During holidays like Christmas or Halloween, create themed
backdrops, props, and hashtag challenges specific to the occasion.
 Seasonal Delights: Design seasonal filters or backdrops to encourage
participation throughout the year (beach themes for summer, fall foliage
for autumn).
 Loyalty Programs: Implement a loyalty program where customers earn
points for sharing their photos with your hashtag. These points can be
redeemed for discounts or free rentals.
b. Offer Incentives:

 Encourage participation by offering discounts or freebies to guests who post

their photo booth pictures with a specific hashtag. Specifically:

 Offer 10% off for bookings made during weekdays

 When buying 2 or more packets, we offer a discount of 20% or free simple

make up

 Give 2 mini wood clamps for the second-return in a week

c. Collaborate with Influencers - bỏ 2 ảnh mono với ninh dương vô

 We will create the program "posing with MONO" so customers can print their
picture together with MONO as if they were taking a selfie with him.

 In the future, there might be a promotional campaign that collaborates with

“Ninh Dương Story”. The event will promote our services as well as attract
more customers.

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 d. Website & Search Engine Optimization (SEO):

 Develop a user-friendly website showcasing your services, packages, and

pricing.

 Optimize the website with relevant keywords to improve search ranking

5. Conclusion:

The Photo Shop is a well-planned and competitive business venture poised to

capitalize on the growing demand for interactive event entertainment. We offer a
unique combination of high-quality technology, engaging props, and personalized
touches to create unforgettable experiences for our customers.

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