Basic Business Definition
Name of business: Spa Coffee
Location: 58 – Nguyen Khanh Toan Str. – Dong Da Dist. - Hanoi
Type of business: Service
Primary services: – Foot Massage Service using Doctor Fishes, accompany with drink serving.
Customer needs that our business will serve:
A quiet place with fully natural decoration to relax after hard-working hours.
Enjoy a totally new-fangled foot massage service – Fish Spa which is not only good for health but also eliminate all stress.
Customer groups that our business will serve:
Office workers
Old people
Young people
Households
Competitive advantages:
A totally new-fangled foot massage service which has never existed in Hanoi. It attracts people‘s curiousness and this also means we have almost no competitors.
Doctor Fish is widely used and recognized all over the world as an efficient therapy to eliminate stress. This can attract office workers and old people to visit us.
Doctor fish can completely get rid of skin smear and aging cortex. They also can make your pore unobstructed to promote blood circulation. Moreover, they have the function of protecting skin and beautifying face to make your skin healthier and more brilliant. These could attract ladies to use our service.
Short-term and Long-term goals:
- 1-3 Years: . Keep business stable, step by step recapture initial capital.
. Liquidate all the debts
. Become one of the best point of arrival of customers
- 5-10 Years: . Become a strong brand in both spa and coffee service.
. Gain enough profits not only to survive but also to expand the business scale
. Build a new larger spa café in the centre of Hanoi
Market Analysis
Identify target market: [Potential customers]
- Consumer in all occupations and age ranges
Describe the people will account for most of our business:
- Gender: Both Male & Female Age range: All ranges
- Income range: All ranges Occupations: All occupations
Geographic area our business will serve: Urban – with many large companies and crowed residential quarters nearby.
Potential customers are located in this area:
- Office workers
- Citizens
My estimate based upon:
- Seft-investigate: Visit the target area and nearby regions.
Customer population expectation:
Increase – The more population grows, the more potential customers we get.
Target market‘s needs:
- A comfortable space to relax after hard-working hours and at weekends or holidays.
- A wholly new more attractive relax method to try.
- An acceptable price for spa services with extra bonus.
- Healthcare.
Based Information: Survey Result [View Attached Survey Analysis Document]
COMPETITORS:
1. Café 22 & 24:
Address: 22 & 24 Nguyen Khanh Toan Str. – Dong Da Dist. – Hanoi
Miles from Spee: About 0.5 km
Competitive Advantages:
- Long-lived with 3 years in business
- Extra service: Italian Ice-cream
- Regular clients
Competitive Disadvantages:
- Small space with less than 10 café tables.
- Poor decoration and equipments.
- No differentiation to other café.
2. TRÒN Café:
Address: 52 Nguyen Khanh Toan Str. – Dong Da Dist. – Hanoi
Miles from Spee: Nearby
Competitive Advantages:
- More than 2 years in business
- Extra service: Dien Bien – Lai Chau Special Wine
- Regular clients
Competitive Disadvantages:
- Small space with less than 10 café tables.
- Most café tables are on the pavement.
- Poor decoration and equipments.
- No differentiation to other café
3. Trung Nguyên Coffee:
Address: 36 Nguyen Khanh Toan Str. – Dong Da Dist. – Hanoi
Miles from Spee: About 1 km
Competitive Advantages:
- About 2 years in business.
- 2-floor space.
- Regular clients.
Competitive Disadvantages:
- No extra service.
- Poor decoration and equipments.
- No differentiation to other café.
SPEE ‘s COMPETITIVE ADVANTAGES:
Unique: A totally new-fangled foot massage service which has never existed in Hanoi. It attracts people‘s curiousness and this also means we have almost no competitors.
- Double services: Fish Spa on 1st floor and Café on 2nd floor.
Original decoration: Mix of natural and modern factors bring relaxation and comfort to customers.
- Bonus: Free Coffee or another soft drink for customers.
SPEE ‘s COMPETITIVE DISADVANTAGE:
Newcomer: Being a wholly newcomer in this business and geographic area.
Poor experience: Young businessmen with almost no professinal experience and skills.
Potential risk: A totally new-fangled business comes along with a lot of potential risk, especially negative response from customers.
SPEE SWOT Analysis
