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Tuesday, May 21, 2019

Cupcake Shop

International University Vietnam Bachelor of Commerce Program ASSIGNMENT COVER PAGE Your assessment lead not be accepted unless all fields below atomic number 18 completed Subject Code BUSM4092 Subject Name Applied Entrepreneurship Location where you study RMIT Vietnam SGS Title of appellative Feasibility psychoanalysis Student name Kim Koan DongPham Anh HoaNguyen Phu HaiPham Phuong Nghi Student Number s3324450s3298342s3255278S3269894 Learning Facilitator in charge Ms. Agatha Heng Assignment due date 07/09/2012Date of Submission 07/09/2012 ripe Submission Approval Number of pages including this one (Please number your pages like this page 1 of 7, page 2 of 7, etc) 27 Word Count(Main Content) 5,558 EXECUTIVE digest Having noticed the seam opportunity in food, specially in dessert in the Vietnam commercialize, Ucakes task idea is developed. The purpose of presenting this idea is to help customers embodying their cute message into cake, the requisite item in ein truth c elebration.This do-nothing be regarded our business idea as the current market has not provide it. probe revealed that choosing young people 15 to 30 living in Ho Chi Minh City as potential targets in terms of increase in population, gross domestic product and ordained behavioral change towards cake. Moreover, market research found that thither ar competitors with strong brand name and re devoteation. However Ucake mickle brave out among the opponents with service disparateiation focus strategy in which Ucakes core differentiated service is customers self decorated cake.Ucake provides gauze-like base cake, hygiene environment with fresh and diverse topping, and then customers simply come to shop and decorate their cakes easily and fast with meaningful memory support by professional advice by Ucakes chefs. Otherwise, customers brush aside choose cake design from hundreds of models that suit their tied(p)t. Among the analysis, eldest quint years financial statements, showi ng estimated presidential term terms, revenue and expense, are included to verify that Ucake is able to break-even within 3 years. TABLE OF CONTENTS EXECUTIVE SUMMARY2 I. The concern Idea4 1. Opportunity commentary4 . return / service description4 3. Description of the entrepreneur police squad5 II. The Industry and Market6 1. Current Industry Analysis6 2. Market potential Analysis7 3. Competitors Analysis (referred to Appendix 3)8 4. fall guy market/customers9 5. Market penetration (referred to Appendix 5)10 6. Stakeholder Analysis11 III. Business Model Analysis (referred to Appendix 6)13 1. Revenue sources13 2. Cost drivers13 3. Resource requirements / mapping13 4. Investment size14 5. slender victory circumstanceors15 6. risk of infection analysis and management16 IV. Future Action Plan17 1. Sources of start up capital17 . Further information urgencyed17 3. Support needed18 REFERENCES19 APPENDICES21 I. The Business Idea 1. Opportunity description Currently, Vietnames e people are accustomed to Western culture, so they consider cakes not only as desserts or presents for birthday, but similarly indispensable items in special events such as Christmas or anniversary party. This trend leads to the rapid growth in begs of cakes, especially in holiday period like Christmas (Bao Moi Newspaper, 2009). Not stopping there, people excessively fatality to make their cake becomes more momentous to suit the purpose of parties or events.However, there are still no bakeries allowing customers to decorate cakes by themselves. As entrepreneurs, this is a good occasion for Ucake to develop a business idea to create more values and options for customers through its differentiated services. 2. Product / service description Ucake bakery that has differentiated services will be opened to make customer feel convenient and comfortable, bring more benefit, and sitisfy their needs. Two main services will be developed. Firstly, dissimilar cake designs will be updated f or customer to choose, and then Ucakes bakers will make cakes exactly based on designs offer.Moreover, customers besides drive out prefer their own design for Ucake to weapon. Although the design of cakes is whatsoevertimes not favored some customers, they still arrest to demoralize it as they submit fewerer choices. This problem can be solved when customers come to Ucakes store where they bewilder discordant choices and they can even bear Ucake to make the cake based on their own suggestion. Here at Ucake bakery, it sells not only cakes designed by its store, but similarly cakes customers want to engage. some separate service is self medal, which there are spaces provided for customers, and all requisite equipments are to support them decorating cakes on their own.When using this service type, customers will pay for a speak out base cake, toppings, and choice to design the cake and what is more, they are allowed to try the taste of the cream, toppings before pur chasing. To help clients better understanding of the services, Ucakes bakers are there and willing to give advice for cake decorates. The cakes can become so consequential for the receiver if people decorate it by themselves. For example, parents will be very surprised and happy if their children decorate a cake as a gift for their wedding anniversary.However, most of Vietnamese people do not have enough necessary equipments or places to decorate a cake. This issue has been recognized, and Ucake wants to generate services that give its buyers chances not only to garnish this kind of desserts but to bonk the fun and relaxation as well when they come to Ucake. 3. Description of the entrepreneur team A group four undergraduate students who are taking unmarried man degrees in RMIT University are recently having their family businesses run profitably in the Vietnam industry.Having followed different majors with background s of serving business, marketing, design, and especially in the hospitality streams, the team has ambition of launching a bakery locally which is called Ucake. On that account, the team seeks for potential opportunities with creative production to help solving customers problem, giving them more benefits, and also generating profits remarkably for their business. In addition, each member has developed a wide spread of professional relationship that would sustain their project in positive aspect and scale through their familys ne 2rk and friends.By employing some of members real working experiences from their family business and other service levels, the team is expecting use their conditions and supports to start up Ucake bakery masteryfully. II. The Industry and Market 1. Current Industry Analysis To improve Ucakes strategies and support the awareness towards different features imprinting its business, ushers five forces model is applied for analyzing risks that helps Ucake to control in higher progress in the Vietnam industry. According to Rice (2010), this model contains five typical aspects. 1. 1.Bargaining power of suppliers Low at heart the bakery industry, raw materials are decisive factors that contribute to the success of a business leading to high value of products and prestige. Usually, determines of materials like flour, sugar, milk are depended on the level of caliber customers want to aim at. In Vietnam, sources of suppliers for those ingredients are relatively diverse that can be derived from local grocery stores or larger suppliers. Hence, Ucake will have more options choosing dealer that are appropriate for its budget and choose. 1. 2. Bargaining power of buyers HighNowadays, the Vietnamese people are influenced by Western cultures and tend to go to cake shops as their hobbies, especially on holidays and other events. With numerous bakeries throughout the country, customers are advantageous to experience excellence and different prices of various bakery shops. Besides, some youths are also inte rested in do cakes by themselves as a result, clients have more knowledge of selecting the right cakes which are suitable for their commandment. 1. 3. little terror of new entrants High Since the regulations and procedures of starting up a bakery in Vietnam are not so complex (Vatgia. om, 2011), which even people with abject capitals can also invest on this kind of business, barriers to enter the industry here are not high. Therefore, as a new comer, Ucake faces the threat of self decoration service imitation from other components, including existing and approaching cake shops. 1. 4. Threat of substitutes High The level of threat of substitutes that Ucake faces is pretty high as there are many different types of food and dessert services developing in Vietnam (VietnamBriefing, 2008), such as ice cream, yogurt, fast food, Vietnamese sweet soup, etc.Thus, clients have various options of switching to other food once their demand of consuming cakes decreases. 1. 5. Rivalry among existing firms High At the moment, only in Ho Chi Minh City, there are over 100 bakery stores located widely, and the competition of bakeries are getting more and more intense as many large and sensitive local bakery stores exist in the market (Phan Le, 2012). Furthermore, the local bakeries also have to compete under pressures of investments from some famous foreign bakeries, which might affect customers perceptions and carrying into actions of local bakeries as well as Ucake. . Market potential Analysis Regarding this area, PEST model is used to examine the environmental part for executive director strategies. 2. 6. Political Due to To Loan (2008), food hygiene and safety are some of the biggest issues in Vietnam, and this issue is practically cared by the government. Research Center of Business Administration claims that HACCP is the highest international license required by the Vietnamese for a firm which wants to operate in food industry. So, Ucake must have HACCP(Hazard A nalysis and Critical Control Points) to meet the Food Safety faithfulness. 2. 7. EconomicUcake will have to take moderate rental cost, so the stores location does not have to be positioned in the center of Ho Chi Minh City. Due to Diaoconline. com (2012), the cost for a cardinal floored shop in district 5 is rough 1,000USD. Cost of facility and equipment for a new venture are paid highly in the starting time of all year in terms of the good quality facilities and equipment in order to make customer feel comfortable. However, since they are fixed be, the venture does not need to pay anymore in next few years, and maintenance costs will be paid less instead.According to VietnamBranding (2008), Vietnamese people refer Western fast food than Vietnamese. 2. 8. Social Dan Tri Newspaper (2012) states that Vietnamese people care and obverse more Western tradition and events (Christmas, mothers day, Halloween) and considers that cakes are commonly used in many parties and special even ts. This leads to high demand of cake, and especially during Christmas. Besides, in this century, people do not only want a delicious cake but increasingly care more well-nigh living and health issue (Viet Bao Newspaper, 2005).So, if Ucake has HACCP for ensuring the safety of the cakes and researching some of new healthy ingredients, more and more customers will be more attracted. 2. 9. Technology As a small business, high technology is not really fundamental for Ucake. However, Ucake need to have fresh, safe and high quality ingredients. Hence, safe and clean process of making and decorating cakes are highly presented, also the bakery can cooperate with its supplier to do research and development to adjust the amount of sugar and please customers, especially that are fastidious. . Competitors Analysis (referred to Appendix 3) 3. 10. Direct competitors Regarding the direct competitive environment, generally, most of Ucakes components are other bakeries in Vietnam, which are large l ocal bakeries, small cakes and cafe shops, and foreign bakeries. Some of Ucakes particular competitors consist of Vietnamese ones like Brodard, Givral and Jous Les Jours bakery from overseas. Firstly, Brodard and Givral bakeries are two of most enormous time businesses in the Vietnam bakery industry that selling cakes and other breads.Overall, both of them supply cake orders from clients like Ucake conversely, as their service regards to only takeaway cakes, they do not have self decorated cake services for buyers. For Tous Les Jours which is a popular chained bakery from Korea that mainly offers clients fresh breads, cakes and other desserts, the chain presently has more than 8 stores allocated in Ho Chi Minh City. Similar to Ucake, Tous Les Jours accommodates consumers with cafe spaces, and also makes cakes through customers idea suggestion.Nonetheless, the Korean chain does not have self decoration cakes and hardly to change to this kind of service while their concept is cons istent, and because of their large number of branches. 3. 11. Indirect competitors In this field, as Vietnams integration has been widely opened, different investors of foodservice piecemeal find opportunities in the Vietnam market. As a consequence, Ucakes indirect competitors are both domestic and foreign foodservice businesses surrounded by the nation.Among those components, Baskin Robbins (ice cream chains), Yogen Fruz (Yogurt chains) and Lotteria (fast food chains) are selected to weight against Ucakes potential. In general, all of those 3 businesses are serving utilization services apart from Ucake, and their statuses are reasonably strong compared to Ucake as a new comer. In addition, none of them contains mutually two kinds of services that Ucake has. For this reason, even though Ucake is totally new and less popular, its operation is not affected much by indirect challengers in terms of this new differentiated variety of service. . Target market/customers (referred to Ap pendix 4) 4. 12. Geographic According to World Bank (2012), the GDP per capita has been increased significantly since the year of 2000. Among the provinces, Ho Chi Minh Citys population claimed the highest with almost 6,000 people in 2010. Moreover, peoples average income in the northern area is also high, which especially in Ho Chi Minh Citys was estimated the greatest with approximately 3,000 USD per year (Hoa Le, 2012) determining higher consumption compared to other regions.Hence, Ho Chi Minh is an ideal location for Ucake to blueprint for starting up the investment and seek to achieve good profits. 4. 13. Demographic Ucakes targeted customers are aimed at the ages from 15 to 29 who are mainly teenagers and youths going to work as there are numerous young ages of under 30 that go on more than 50% of the Vietnam population (Nielsen, 2010). 4. 14. Behavioral Those groups of audience above are targeted not only because of their excess in the country population. Typically, a major ity of them tends to conform new updates of trend due to the international integration prospect and influence from other countries cultures.Thus, that is one of the reasons why many young Vietnamese people have interests in Western fast food and desserts by the appearance of investments regarding these kinds of food in the Vietnam market. Viet Bao Newspaper (2005) states the progressive encouragement of the Vietnamese of considering hygienic products as their merry priority for consumption in recent decades. For those points, Ucake finds it quite potential with great opportunities to set goals for achieving success through this targeted market. 4. Market penetration (referred to Appendix 5)Since the cake market is already at the maturity stage of the product life cycle, in order to enter the industry differentiation Focus Strategy is applied to Ucake. QuickMBA (n. d) says that Differentiation Focus Strategy can help the firm to narrow down to a specific group of customers, and gi ve consumers the best and different services compared to its competitors resulting in retaining customer loyalty. However, there are some limitations with this tactic that Ucakes service can be imitated or its targeted segment changes consumer needs. irregular marketing Ucake has to do marketing activities potently in the first year as it is a new and small firm in the market, and guerilla marketing is an ideal tool for new business which has limited marketing budget like Ucake. Some experts (Levinson, Levinson, & Levinson 2007) indicate that guerilla marketing is an easy and inexpensive marketing method for small business. Guerilla marketing strategy focuses on low cost, unconventional marketing tactics, and puts more time and effort to achieve maximum result. One week before the possible action of the shop, some of refrigerated cabinets made by glass can be placed on public places such as parks or supermarkets. so Ucakes big designed cakes are displayed inside to catch peopl es attention and trigger their curiosity. The slogan Your Cake will be put on cabinets to introduce Ucakes business idea to clients. * Additionally, few days before the launching day, the banner of announcing the decoration contest will be also situated near refrigerated cabinets to invite people to participate. The contest will be held during the opening day. nodes can join and buy their cakes with half prices Advertising advertisements of Ucakes establishment day will be posted on magazines for youths and teenagers such as Tiep Thi va Gia Dinh and Hoa Hoc Tro. A Facebook page of Ucake will be created as well in order to expand the brand community. Facebook is an ideal place for us to reach large number of potential customers. Ucakes products and other activities will be cognizant which are easy for consumers to view wherever they are. This social media tool can draw customers interests and Ucake can receive advantages from this marketing effect. 5. Stakeholder AnalysisBeside the owners, people that influence the performance and success of Ucakes business can consist of the customers, supplier and employees. Those important stakeholders are categorized and emphasized in 4 particular aspects in the table below. Stakeholder bureau Level of effect Expectation Supposed risks Investors Devoting for the establishment of the business Moderate Making decisions in right investing and capitalizing for beneficial profits of the company deficiency of financial sources or coastruptcy would threaten the operation of the business Customers Consuming goods and service of the bakery High More usage of roducts and services from customers helping the business to gain status and revenue to compete with others Bad comments from customers affecting the reputation of the business whether quality of goods or services do not satisfy them supplier Supplying raw materials to the client bakery (i. e. flour, sugar, butter, milk, etc. Moderate Providing required quality and quantity of materials not only to enhance relationship with customers but also help generating profitable products for customers Bad quality of raw materials supplied or late delivery time will cause unqualified products or delay in the plan of the business Employees Supporting and controlling the operation of the bakery High Adding efficient value to the business by applying their trained skills to the service and attending to customers in order to improve the bakerys performance Low capability, misbehavior to customers leading to decrease in turnover of the businessIII. Business Model Analysis (referred to Appendix 6) 1. Revenue sources The revenue is mainly generated from two items which are customers uniform cake and self decorated cakes. Customers ordered cake is produced based on the design that customers choose from Ucakes menu. Therefore, the price of each cake is the revenue varying due to the size and design from 300,000VND to 400,000VND. Customers self decorated cake is made th rough this process, in which Ucake provides a sheer(a) base cake and customers decorate the cake by adding toppings and creams check to their taste perception.The fixed revenue will be sale price of the base cake (150,000VND), and additional revenue is earned by the amount of toppings they supplement which costs 15,000VND per package of one kind of topping. Minimum of 100,000VND of toppings is expected to be just enough for decorating a whole cake nicely. Furthermore, revenue from self decorated cakes is pass judgment to be greater than from ordered cakes. Research result shows that there are no competitors providing this service at the present time. Other revenue is earned by the sale of soft drinks sold for customers in the shop, and one can of the drink costs 15,000VND.As the price is relatively cheaper, it will not be considered as authoritative revenue to ensure maintenance of business. 2. Cost drivers Number of consumers or sales of cakes will increase the raw material ex pense. Ucake only sells cakes, and the expense to satisfy customers demand will have the greatest impact on cost structures. Ingredients to bake plain base cake, such as eggs, sugar, butter, milk, salt, flour and cream, must be unbroken fresh so JIT (Just In Time) strategy will be utilized to decrease inventory costs.Being located nearby Ucake, the supplier (referred to Resources requirements part) will conduct prompt delivery at lower costs in daily basis. 3. Resource requirements / mapping In order to offer satisfactory services to customers, raw materials and humane resources are decisive in our business. The raw materials mentioned in Cost drivers part above will be purchased from Tan Nhat Huong, the only local firm provision cream, operating in Tan Binh district, Ho Chi Minh City. The quality is as high as other foreign companies products.As Ucake and the suppliers locations are geographically close to each other, Ucake can decrease significant logistic costs. Ucake needs f our people to run this business. One professional chef will bake the plain base cake and ordered cake. Two more amateur chefs will work as supportive assistants to help the main chef and to advise customers decorating cake. One soulfulness will be hired as receptionist. For this job, as there is no complex calculation involved, a person with no background of accounting can also be recruited.People will be hired from the online labor market (timviecnhanh. com), and Ucake will upload specific requirements of employees and interview the favorite candidates. 4. Investment size The first financial investment must be at least 100,000USD in order to start and operate Ucake for first year. Below is the cost analysis for the first five years after opening Ucake. * Fixed cost Ucake will be opened on Nguyen Trai Street, District 5 by renting a two floored shop . The rental fee will be 1,000USD per month which will be totally cost 12,000USD for the first year of contract.Also, other costs to operate the business like electricity, water are calculated to be 167USD per month (2,000USD / first year). * Variable cost As the cakes are adust after receiving orders from customers, ingredients are considered as variable costs. All costs related to baking process such as electricity, labor, ingredients are regarded as 100,000VND per cake. Assuming that Ucake produces 3,720 cakes per year, including two types of products based on the revenue analysis, the variable cost will be 20,000USD per year. * Semi variable cost Semi variable costs comprise two expenses absorb and marketing.The wage is for the four employees. The wage amounts for main chef, supportive chefs and receptionist are 200USD, 150USD and 100USD, respectively. In the initial year, monthly wage will be 600USD which adds up to 7,200USD of wage expense for the first year. Ucake will conduct marketing vigorously in the first year to present the differentiated services and gain customers awareness. The annual cost is e stimated to be 5,000USD. * Non recurring cost Equipments like baking ovens, furniture, and shop renovation costs will be spent before launching Ucake shop. All the equipment costs are calculated approximately 50,000USD.Sum of the first years costs are 96,000USD. However, in case of not covering expenses by the revenue, 4,000USD is needed as a back-up fund when Ucake meets unexpected costs. Hence, the first investment cost should be 100,000USD to cover the whole first year and half of second years expense. The first investment fund of 100,000USD will be recovered at the end of third quarter in year 2. Even though the price of cake is cheaper than other consumer products like electronic devices or automobiles, huge profit margin of cake will allow the business to step up from option to growth level. 5. Critical success factorsDuring the investment process, there are two main critical success factors of sustaining Ucakes operations. First of all, one of the most vital elements for a b akery to accomplish is the role of the head baker. A head baker needs to have long time experience in baking and decorating cakes. Yet, this is still not enough. Cakes are quite attractive to many people, but customers have begun fussier about this kind of desserts over time due to changes of their perceptions about nutrition and safety of goods (Viet Bao Newspaper, 2005) thus, the head baker has to update consumers behaviors and apply ethods that are adequate with their demands. For instance, he can use fresh cream instead of butter cream to reduce the fat of the cakes topping cream for making buyers more secure as regards their health. In addition, he is in charge of be after and estimating the number of sellable cakes per day to verify profits for the bakery also encourages products sold within 24 hours upon baking and avoids surplus of stock. Another critical success factor of Ucake is the quality of customer services.As a bakery providing self decorated cakes, in order to ser ve the customers needs, it is significant to hire a group of staffs that meet the working standard for this new type of service. Basically, the staffs need to have limited knowledge about cakes basis and skills of decorating cakes for teaching method whether their buyers cannot garnish themselves or need assistants. Besides, they are to support customers in providing them options of cake toppings shapes for their self decorated cakes, directing them to park vehicles, and make the shop atmosphere hygienic and convenient for them.With those points, Ucake can expect to match the criterions of services and keep its customers satisfied. 6. Risk analysis and management Among the risks, some distinguishing points strongly affect Ucakes enlargement that need to be aware and administrated in terms of its business conception. The first threat that Ucake might face is that the idea of customer self decoration services can be imitated by others which is estimated with high chance.As being ap peared at the maturity stage, products of Ucake are common in the industry, except that its services are developed to a different standard and have never been applied by other competitors. Nevertheless, although self decoration is new and unique compared to others, this concept does not require so many sophisticated progressions to implement the services in consequence, other bakeries, including existing and potential ones, can easily reproduce Ucake or create similar serving styles even if Ucake tries to protect its company via Intellectual Property Rights registration.Copying service is an unavoidable problem to Ucake still, Ucake would be the pioneer in applying self decorated cakes for clients in the market, so it is an extremely cautious period for Ucake to deliberate its growth as well as gaining customer loyalty by performing satisfactory products and services once it is first publicized. Additionally, the moderate possibility of employees misbehaviors to customers through out their serving mission might occur. During the business, employees have high responsibilities in making clients feel worthy with what they pay for the services and want to return to Ucake again.On the other hand, employees are sometimes negative effects of discouraging customers of using services due to their slow serving or bad attitudes, and this would be very dangerous for the bakery because customers have diverse options of bakeries to prefer. As a consequence, Ucake needs to spend a period of time training the employees carefully with some particular rules of the bakery before the stores launch to look forward to attaining effective services satisfying its consumers.What is more, employees should be praised with rewards or other incentives whether they do their job well in order to increase their productivity in addition to Ucakes efficient services. IV. Future Action Plan 1. Sources of start up capital Ucake is a relatively small size in aspects of budget, establishment co st and labor wage. The business model analysis shows that Ucake requires at least 100,000USD as set up cost. There are three possible financial sources to raise the fund. * Angel investment Ucake will open a business plan presentation to potential angel investors to persuade them that it is a feasible business.Angel investors will receive corresponding amount of return related to their investment size. * Loan from bank Banks allow the Vietnamese to receive loan if credibility is guaranteed. Ucake will summit five years of financial budget and business plan to convince that Ucake is a trustable business. 50,000USD is the amount Ucake plans to receive from the bank as a loan. * Financial supports from acquaintance four owners of the business are running their own family business and being successful. Ucake can be financially supported by their families. . Further information needed Ucake lacks legal knowledge about food market. As a result, the future operation of the bakery must be c hecked and advised by a law firm called TopicLaw. TopicLaw will support by providing standard of food and necessary licenses for Ucake to run the bakery such as sanitation of bakery, safety of equipments. Also, as Ucakes business idea is very easy to be copied, it should contact with consulting firm to protect the Intellectual Property Rights. The consultation will be about patent registration.The Target market analysis shows that the targeted market is quite potential. However, Ucake must implement further surveys before opening to identify what kind of toppings and decoration style that the target market prefers. It is vital to run regular survey on customers feedback and preference after setting up Ucake in order to maintain competitive advantages in such dynamic food market. 3. Support needed Due to the fact that parents of the four Ucakes owners are successfully running family business overcoming economic crisis, they can be consultants of Ucake.External environments cannot be consistent as Ucake assume. Therefore, their parents may recommend counsellor of future operation and performance of Ucake. Excluding law firm and consulting firm which was mentioned in further information needed section above, Ucake is looking forward to surviving and ripening in the target market without further outside supports. REFERENCES Bao Moi 2009, Nhon nhip thi truong banh chao don Giang sinh, Baomoi, viewed 28 July 2012, lthttp//www. baomoi. com/Nhon-nhip-thi-truong-banh-chao-don-Giang-sinh/54/3636052. pigt Dan Tri 2012, Ngay cua me Net dep van hoa phuong Tay di sau vao nep song Viet, Dantri, 11 May, viewed 28 July 2012, lthttp//dantri. com. vn/c130/s130-594592/ngay-cua-me-net-dep-van-hoa-phuong-tay-di-sau-vao-nep-song-viet. htmgt Dia Oc Online 2012, homepage, DiaOcOnline, Ho Chi Minh City, viewed 29 August 2012, lthttp//www. diaoconline. vn/sieu-thi/loc/-tp_tphcm-quan_131-diaoc_15/gt Hoa Le 2012, Thu hep khoang cach thu nhap giua cac tang lop dan cu, TapChiTaiChinh, 24t h April, viewed twelfth August 2012, lthttp//www. tapchitaichinh. n/Qu%E1%BA%A3ntr%E1%BB%8Bn%E1%BB%99idung/ViewArticleDetail/tabid/56/ report/ViewArticleContent/ArticleId/7989/Default. aspx Levinson, JC, Levinson, J amp Levinson, A 2007, Guerilla marketing easy and inexpensive strategies for making big profits from your small business, 4th edn, Houghton Mifflin Company, New York. Nielsen 2010, Khao sat tai chinh ca nhan 2010, The Nielsen Company, viewed 10th August 2012, lthttp//www. google. com. vn/url? sa=tamprct=jampq=h%C6%A1n+50%25+ng%C6%B0%E1%BB%9Di+vi%E1%BB%87t+d%C6%B0%E1%BB%9Bi+30+tu%E1%BB%95iampsource=webampcd=1ampved=0CEUQFjAAampurl=http%3A%2F%2Fwww. ielsen. com%2Fcontent%2Fdam%2Fcorporate%2Ft3%2Fvietnam%2Freports%2FNielsen_PFM%2520Presentation_VNese. pdfampei=YuYzUKGcIYWPiAfFx4CIAQampusg=AFQjCNHwF2lBNKGO2JYJGbVpA1pxBxo0tgampcad=rjagt Phan Le 2012, Bakery Cuoc chien da len men, DoanhNhanSaiGon, 11th May, viewed 5th August, lthttp//doanhnhansaigon. vn/online/kinh-doanh/chuye n-lam-an/2012/05/1064208/bakery-cuoc-chien-da-len-men/gt Quick MBA n. d, Porters Generic Strategies, Quick MBA, viewed 29 August 2012, lthttp//www. quickmba. com/strategy/generic. htmlgt Rice, JF 2010, Adaption of Porters Five Forces Model to Risk Management, A Publication of the Defense Acquisition University, July, viewed 10th August 2012, Proquest database. 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VietnamBranding 2008, Fast food Viet bao gio? , VietnamBranding, 25 June, viewed 20 April 2012, lthttp//www. vietnambranding. com/thong-tin/phong-su-thuong-hieu/4610/Fast-food-Vietbao-gio> World Bank 2012, Vietnam GPD per capita, TradingEconomics, viewed 12th August 2012, http//www. radingeconomics. com/vietnam/gdp-per-capita APPENDICES Appendix 1 Service Prototypes 1. Cakes baked and cream frosted by Ucakes chefs. 2. Ucake provides options of toppings for customers. 3. Customers choose favorite toppings and pay at the counter. 4. Cakes and toppings are brought at customers tables. 5. Customers decorate cakes on their own or with the assistance of Ucakes staffs. Appendix 2 Ucake staffs job description Staff Function Head chef The person who has long time knowledge and experience of working in the bakery industry.Typically, he holds good recipes of cakes and manages every baking step to ensure the cakes look stunning and tasty. validating chefs These chefs can be amateur and to assist the head chef in doing the baking process and help instructing customers towards self decoration services. They also direct customers in decorating cakes whether customers suggest. Receptionist Has a responsibility of managing the quantity of toppings, charging bills of customers and reporting the revenue daily to owners. Appendix 3 Direct and Indirect competitors analysis 3. 1. Direct competitors

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