FEASIBILITY STUDY – AAA GROUP

Course: Ẻntrepreneurship

I. Feasibility of our idea

FEASIBILITY MATRIX

No Issue Issue Exists Can the issue be resolved? How?

Personality x

Management x

Access to healthy food's ingredients: Build a

Operational x
farm to provide fresh ingredients

Access to initial capital: Call for investment

Financial x
from friends, angel investors, venture capital.

Can’t approach enough customers:

Participate in some events in Hanoi such as
Marketing x festivals, conferences and seminars where we
can promote our product to a large number of
customers.

Slow delivery leads to the fact that customers

Time x receive food with no longer fresh: Hire an
expert delivery company

A quite high level of competition for healthy

Industry x
food: Use promotion monthly and loyalty policy

Cultural x

II. Will our idea work and why do we think it will work?
We have a strong belief that our idea will succeed and bring a lot of benefits to our
customers because of three main reasons as follows:
 First, we found out that there is a demand for our products but there are very few
stores that can provide customers with both healthy and tasty foods. We reach our
target customers, interact with them, research and talk with them in order to know the
thirst of our target customers and want to bring them benefits. Therefore, our idea is
developed from what our customers really want.
 Second, after studying the industry, we know that making our products unique in the
market is increasingly important, so we try to learn about our competitors from
scratch and find out what their products lack and fulfill them to serve our customers.
 Thirdly, we believe that our business idea is sustainable. Due to the Feasibility matrix
table above, we try to list all the problems we have to face for the best preparation for
them. We also find many possible solutions for each field’s issues and let no issue
unsolved.

III. Environment Assessment

1. Social Trend
 Just under Family, Health is the second thing that Millennials care about. More and
more people want to be healthier.
 Opportunity: Healthy food, gym/yoga classes have a great opportunity to grow.
 Millennials expect work-life balance. They are more likely than other generations to
view work-life balance — 41 percent — and not enough free time — 36 percent — as
major career concerns.
 Opportunity: Online Healthy Food can help them to reduce time to cook, which
allows them to have more time for personal wellbeing.
 Millennials like trying new things and can easily switch between brands
 Opportunity: New company/ Start-up can enter the market easily. Especially in
the Healthy Food section where there is not a major player yet.
 Threat: If they are not satisfied with the food, they can easily switch to another
brand.
 Solutions: Make sure to focus on the quality of food and develop a loyal customer
program.

2. Technology Trend
 Millennial are well adapted with technology and they want to experience new thing
via online shopping
  Opportunity: Online shops are familiar with these groups of people. They know
how to order online.
 Threat: If your food disappoints one customer, a lot of other customers will know it
in a short time.
 Solutions: Focus on the quality of food and customer service. Have someone in
Marketing join review Facebook groups to quickly respond if there are any problems.
 More and more social media apps have an open place for business on their platform:
Facebook Marketplace, Instagram Business,...
 Opportunity: There are more platforms to promote your brand online and
increase your brand awareness.

3. Regulatory Trend
 According to the current regulations of the Ministry of Industry and Trade: The form of
sales through social networks has been set up in the form of E-commerce trading
platforms (such as Facebook, Twitter, …) will not need to proceed with any license.
→ Opportunity: Businesses will save time and effort when administrative
procedures are simplified.
 Stable political institutions and peaceful and equal business environment under the
management of the Social Republic of Vietnam.
→ Opportunity: Good conditions for businesses to grow.

4. Economic Trend
 People with high and stable incomes are willing to spend a lot of money on health
protection.
→ Opportunity: It creates a good chance for healthy meals with middle to high price
to become successful.
 Raw materials and food are scarce due to epidemics (such as Covid-19,...), so prices
are pushed up.
→ Threat: It is difficult for the businesses to maintain the quality and the variety of
meals with the current price.
→ Solution: Businesses can raise price in accordance with the current economic
situation but must be accompanied by improving service quality, publicly announcing
the reason for an increased price and offering more choices to customers.

5. Environmental Trend
  Weather is becoming more and more extreme (too hot in summer or too cold in
winter), so people avoid going out and prefer eating at home.
 Opportunity: Businesses can increase sales through orders and delivery
 Land and water pollution makes it harder to grow clean food, increasing the price of
clean food, which is already high.
 Threat: It is difficult to control the quality of raw food, as well as maintain an
appropriate cost structure with this environmental trend.
 Solution: We can corporate with a farm and become their exclusive partners so
that we can control the quality and have benefits in cost.

6. Competitive Trend
 There are not many big companies selling healthy food currently in Vietnam
 Opportunity: Our business has a broad market with fewer competitors, taking
more share in the market. Also, our business will not be overwhelmed by big
companies, making it easier to operate.
 Some startups selling healthy food offer a lower price than us
 Threat: Because our price is not so competitive, it will partly decrease demand for
our business
 Solution: We try to offer the service and quality that deserves what the customers
have to pay, and focus only on our target market with middle-high income.

References
Nermoe, K. (2018, 9 12). Millennials: The ‘wellness generation’. From Sanford Health:
https://news.sanfordhealth.org/sanford-health-plan/millennials-wellness-generation/
Orpilla, H. (2019, 2 12). Millennials’ Eating Habits: How They’re Changing the Food Industry.
From Star Micronics Point of Sale Blog:
https://www.starmicronics.com/blog/millennials-eating-habits/