Bai khoi su kinh doanh ve ban hoa kem online

ENTREPRENEURSHIP BACHELOR’S DEGREE BUSINESS PLAN REPORT
Zinc Flower Online Store
Names of student: Nguyen Thi Diem Quynh
University year: 2023 - 2024 Coach at TMU Coach at UTLN
Mrs. Tran Thi Tra My Mr. Olivier NANNIPIERI Hanoi - 2024 Table of Contents
1. Introduction .................................................................................................................................................. 4
1.1. Presentation of the creator ...................................................................................................................... 4
1.2. Presentation of the project ...................................................................................................................... 4
2. Project identification ................................................................................................................................... 5
2.1. Definition................................................................................................................................................ 5
2.2. Advice .................................................................................................................................................... 5
2.2.1. Staff ................................................................................................................................................. 5
2.2.2. Partners............................................................................................................................................ 6
2.3. Associates ............................................................................................................................................... 6
2.3.1. External Communication ................................................................................................................ 6
2.3.2. Partnership ...................................................................................................................................... 6
2.3.3. Use of media ................................................................................................................................... 7
2.4. Establishments ........................................................................................................................................ 7
2.4.1. Objectives........................................................................................................................................ 7
2.4.2. Strengths and Weaknesses .............................................................................................................. 7
2.4.3. Organization .................................................................................................................................... 8
2.4.4. Functionalities ................................................................................................................................. 8
2.4.5. Locations ......................................................................................................................................... 8
3. Economic part .............................................................................................................................................. 8
3.1. Presentation of products ......................................................................................................................... 8
3.2. Market study ........................................................................................................................................... 9
3.2.1. The market ...................................................................................................................................... 9
3.2.2. The Competitive Market ............................................................................................................... 10
3.2.3. The customer ................................................................................................................................. 11
3.2.4. The competitors ............................................................................................................................. 12
3.2.5. SWOT Analysis ............................................................................................................................ 14
3.2.6. Five Forces Model......................................................................................................................... 15
3.3. Strategy ................................................................................................................................................. 16
3.3.1. Segmentation Targeting Positioning ............................................................................................. 16
3.3.2. Marketing Mix 4P ......................................................................................................................... 18
3.3.3. Business Model CANVAS ............................................................................................................ 19
3.4. Sale: Sale list, Sale detail, Sales Evaluation ......................................................................................... 20
3.5. Means implemented to receive the sales forecast: Hardware, Software, Assistance, Repairs, Training
..................................................................................................................................................................... 22
4. Financial part ............................................................................................................................................. 23
4.1. Product List .......................................................................................................................................... 23
4.2. Turnovers (Sales) ................................................................................................................................. 24
a. Details in 1st year ................................................................................................................................ 24 2
b. Details in 3 years ................................................................................................................................. 26
4.3. Variable Costs ...................................................................................................................................... 27
a. Details in 1st year ................................................................................................................................ 27
b. Details in 3 years ................................................................................................................................. 28
4.4. General Expenses ................................................................................................................................. 29
a. Details in 1st year ................................................................................................................................ 29
b. Details in 3 years ................................................................................................................................. 31
4.5. Staff Salaries ......................................................................................................................................... 32
4.6. Investment ............................................................................................................................................ 34
a. Details in 1st year ................................................................................................................................ 34
b. Details in 3 years ................................................................................................................................. 36
4.7. Depreciation ......................................................................................................................................... 37
a. Details in 1st year ................................................................................................................................ 37
b. Details in 3 years ................................................................................................................................. 38
4.8. Loans .................................................................................................................................................... 38
4.9. WCR ..................................................................................................................................................... 39
a. Details in 1st year ................................................................................................................................ 39
b. Details in 3 years ................................................................................................................................. 40
4.10. Financing Plan .................................................................................................................................... 41
4.11. Profit and Loss .................................................................................................................................... 42
a. Details in 1st year ................................................................................................................................ 42
b. Details in 3 years ................................................................................................................................. 44
4.12. Compte de résultat .............................................................................................................................. 45
5. Appendix ..................................................................................................................................................... 46
5.1. Survey ................................................................................................................................................... 46
5.2. Turnover ............................................................................................................................................... 50
5.3. List of important holidays in Viet Nam ................................................................................................ 51
5.4. General Expense ................................................................................................................................... 51
5.5. Investment ............................................................................................................................................ 53
a. Details in 1st year ................................................................................................................................ 53
b. Details in 3 years ................................................................................................................................. 54
5.6. Depreciation ......................................................................................................................................... 55
a. Details in 1st year ................................................................................................................................ 55
b. Details in 3 years ................................................................................................................................. 56
5.7. Break Even – Point ............................................................................................................................... 57 3 1. Introduction
1.1. Presentation of the creator
The fact that today's youthful consumers place a premium on utilizing environmentally
friendly products that produce minimal waste inspired me to start a web store selling zinc
flowers. Moreover, since starting a business selling handcrafted goods does not necessitate
a large initial investment, Vietnam offers a promising and accessible market for
entrepreneurs like myself. People like to receive presents with more meaning than material
ones these days. There are numerous celebrations in Vietnam where individuals traditionally
exchange presents with their loved ones. That's why the attraction of handmade products like
this has never cooled down. For me, this is a huge bonus that strengthens my determination
to go into business. This is a great opportunity to gain valuable expertise as I work on
changing my firm from an online presence to a physical store. *Strengths
● Have experience in creating content, product photography, and video editing
(With 1 year of experience creating content and editing videos for a TikTok channel
to promote sales for a company).
● Effective communication skills to interact with customers, answer queries, address
complaints, and propose suitable solutions.
● Thorough understanding of the products or services being sold to provide guidance and assistance to customers.
● Consistently updating and learning about new trends and technologies to stay
relevant and improve business performance.
● Proficient in data analysis, evaluating business performance, and adjusting sales
strategies based on gathered information. *Weaknesses
● I don't yet know how to manage and allocate work time effectively.
● I tend to lack patience and expect quick, favorable results.
● I fear failure and often get stressed, which might lead to not achieving the level of
productivity I desire in my work.
● I lack experience in self-entrepreneurship, financial management, and managing the personnel of my own business.
1.2. Presentation of the project
My project is to open an online store called 'Flozi' that sells available kits to make zinc
flowers. Flowers are often preferred as gifts for special occasions such as birthdays,
graduations, anniversaries, etc., so the flower's demand is never inadequate. In particular, I
decided to sell zinc flowers because I believe doing so might help spread positive spiritual
messages in the long term. The reason my business chooses zinc as the main material instead
of wool, wax, or silicone is because it is cost-effective, durable, can be reused to create other
items, and most importantly, people can be creative and make things according to their own
preferences. And I hope that this bouquet may bring everyone's sentiments together because
making a complete bouquet of zinc flowers requires a lot of thought, feelings, and effort.
Therefore, this handcrafted present will be far more meaningful than the fresh flowers purchased outdoors.
The store's main goal is to make money through online sales of handcrafted floral
arrangements. Thereafter, businesses can grow, refine their brands, and build a wide variety
of brick-and-mortar locations from which clients can make purchases. In addition, I believe 4
that this position will improve my interpersonal skills with stakeholders and provide me with
ample opportunity to meet new people and grow my professional network.
Our target customers are young adults (20-30) in Vietnam with an average income of more
than 125$ - 420$ per month. Due to the store's concentration on online sales through local
e-commerce platforms. The target demographic is young people, as they are more likely to
make use of recyclable products to promote environmental protection. That's why people
favor presents with deep symbolic meaning, like works of art or personal crafts. The store's
main offering is a zinc flower creation kit; in order to create their own bouquets, buyers will
need to follow the included video instructions. The time and effort put into a single bouquet
will make it that much more appreciated. 2. Project identification 2.1. Definition
I've seen too many instances where individuals who buy or are given flowers have to throw
the flowers away after a few days because they didn't know how to properly take care of
them and make the blooms perish. This wastes money and makes the giver easily forget the
happy times attached to the gift. So instead of giving someone fresh flowers and seeing them
wilt after 2-3 days, you could give them flowers made of zinc. These zinc flower
arrangements are not only a lovely way to brighten up your house, but they also aid in
preserving the natural world. Furthermore, zinc flowers require no maintenance, eliminating
the need for daily watering. When they gather dust, they can be easily cleaned with a dry
cloth or a dryer. Consequently, these flowers can last for 5-7 years without the susceptibility to damage like fresh flowers.
The store's primary offerings are zinc flower-making kits. We have several different flower
kits available, including sunflowers, tulips, bluebells, roses, and more. 1 set of zinc flower-
making kits including velvet wire, zinc branches, wax tape, flower wrapping paper, ribbon,
card, and QR code with flower-making instructions.
In addition to the goal of getting profits and building strong branding to open a physical
store, this project also aims to raise people's awareness of environmental protection, and
prioritize the use of recyclable items to avoid a great deal of trash in the atmosphere 2.2. Advice
I plan to recruit 3 people in the first year: 1 sales staff to work the commercial platform (Full-
time), 2 full-time warehouse staff and I will take responsible for creating content strategies
across social media channels, tracking the success of ads, shooting, and editing videos and photography 2.2.1. Staff
● Sale staff: Resolves customer complaints about damaged or missing items in
shipping, provides replacements, etc.
● Warehouse staff: Responsible for checking all incoming products, submitting a
monthly inventory report, and finalizing all orders before they can be delivered to the shipping company.
● Content Marketing: For the first year I will personally create content, shoot product
images, and post on social media. Once the store has stabilized and established a
certain flow, I will hire an additional person responsible for creating content
strategies, tracking the success of ads, shooting, and editing videos and photography
to work with me in generating the highest quality content. 5 2.2.2. Partners
● Influencers, KOLs/KOCs: Collaborating with influencers who specialize in lifestyle,
home decor, or floral design can help increase brand visibility and reach wider
customers through sponsored content or collaborations.
● Wedding and Event Planners: Partnering with wedding planners, event organizers,
or venues can lead to referrals and joint marketing efforts, targeting customers who
require floral arrangements for special occasions. 2.3. Associates 2.3.1. External Communication * The Targets
The store's target audience primarily consists of young adults aged 20-30 in Vietnam,
earning an average income ranging from 125$ - 420$ per month. The store's focus on online
sales through local e-commerce platforms indicates a digitally savvy audience. The main
products offered are premade kits for creating zinc flower bouquets, along with various retail
goods for flower wrapping purposes.
The target customers are drawn to aesthetically pleasing, unique items that offer
personalization and hold high spiritual value, aligning with their interest in beautiful and
distinctive products. Furthermore, this group seeks reasonably priced items, emphasizing a
balance between quality and affordability. They display a heightened environmental
awareness and a penchant for supporting handmade items to contribute to environmental
protection. Their inclination towards supporting local businesses reflects a sense of
community engagement and advocacy for local industries.
* The nature of communication
The main communication channels used to reach this audience: TikTok, Facebook, and
Instagram indicate an active online presence and engagement with visual content. Facebook
and Instagram are utilized for targeted ad campaigns, offering a consistent four updates per
week across all channels. TikTok, on the other hand, thrives on dynamic, visually appealing
content, with the store uploading three videos weekly. These videos focus on behind-the-
scenes insights, floral tips, and customer spotlights, supported by advertisements, aligning
perfectly with TikTok's engaging format. The inclusion of livestream sales on TikTok and
Shopee adds an interactive element to product showcasing, potentially boosting conversions through real-time engagement.
Moreover, the collaboration with Key Opinion Leaders (KOLs) and Key Opinion
Consumers (KOCs) for promotional videos brings in influencer-driven marketing, tapping
into their varied levels of visibility with commission-based incentives. This comprehensive
strategy encompasses a blend of visually-driven, interactive, and influencer-driven content,
to captivate and engage the target audience while fostering community involvement and brand loyalty. 2.3.2. Partnership
● Co-branded promotions or collaborations with local flower farms or artisanal
crafters, featuring joint marketing campaigns and exclusive product offerings.
● Preferred partnerships with wedding and event planners, offering special discounts
or tailored packages for their clients.
● Cross-promotions with other local businesses, such as gourmet food stores or luxury
boutiques, to expand the customer base and increase brand exposure. 6 2.3.3. Use of media
● Social Media: Utilizing platforms like Instagram, Facebook, and TikTok to share
visually appealing content, including product photos, floral arrangements, behind-
the-scenes glimpses, customer testimonials, and engaging storytelling.
● Influencer Marketing: Collaborating with influencers or KOLs/KOCs in the lifestyle,
home decor, or floral design niche to reach a wider audience and gain exposure
through sponsored content or product reviews.
● Online Advertising: Running targeted online advertising campaigns through
platforms like Facebook, Instagram, TikTok, or any social media ads to increase
brand visibility, drive website traffic, and attract potential customers. 2.4. Establishments 2.4.1. Objectives
The primary objective of the store is to drive sales and generate revenue by selling handmade
floral products online. Thereafter, the store can grow, refine its brands, and build a wide
variety of brick-and-mortar locations from which clients can make purchases. In addition, I
believe that this position will improve my interpersonal skills with stakeholders and provide
me with ample opportunity to meet new people and grow my professional network. In
addition to the goal of getting profits and building strong branding to open a physical store,
this project also aims to raise people's awareness of environmental protection and prioritize
the use of recyclable items to avoid a great deal of trash in the atmosphere
2.4.2. Strengths and Weaknesses
Below are the strengths and weakness of my online store from the perspective of
competing in the gifts products and servies market. *Strengths
● Wide Variety of Flower Kits: We offer a wide selection of zinc flower-making kits,
each one complete with all the necessary materials and step-by-step instructions
● Promotion and Sales: We have many holiday sales, promotional programs, and gifts for customers
● Easily Access: The store primarily operates online on e-commerce platforms like
Shopee, TikTok Shop, buying, selling, exchanging, and providing advice are more convenient and swift.
● After-services:There is always someone available online to respond to any inquiries
from customers and provide guidance on creating zinc flowers if they don't
understand the tutorial video. *Weaknesses
● Seasonal Fluctuations: The demand for floral products can vary significantly
throughout the year, with certain seasons or holidays experiencing higher demand
than others. Zinc Flower may face challenges in managing inventory and sales during
off-peak seasons, which can impact revenue and profitability.
● Intense Market: The online floral market can be highly competitive, with numerous
established players and new entrants. Zinc Flower may face competition from local
florists, other online flower retailers, and large e-commerce platforms.
● Any disruption in the supply chain, such as shortages or issues with suppliers, can
impact product availability, quality, and consistency. 7 2.4.3. Organization
Flozi Online Store operates is an online store based in Vietnam operating as a sole
proprietorship, with its focus solely on the handmade zinc flower market. It specializes in
providing kits and accessories for creating beautiful zinc flowers, aiming to offer customers
a wide variety of choices when purchasing gifts. The organization focuses on promoting
environmental awareness and encouraging the use of recycled materials.
The main products offered by the Flozi Online Store are kits for creating zinc flowers, which
include zinc branches, zinc velvet, tape, cards, lights, paper, and other accessories needed
for bouquet-making. These kits enable customers to engage in the creative process and
express their artistic skills while promoting the use of eco-friendly materials.
Flozi Online Store primarily targets young adults aged (20-30) in Vietnam with average
incomes. The store focuses on online sales through local e-commerce platforms which are
TikTok Shop and Shopee. The Flozi Online Store is currently in the planning phase and aims
to launch in January 2025. This timeline allows the organization to prepare its operations,
establish partnerships, and build a strong online presence before commencing its business activities. 2.4.4. Functionalities
Flozi Online Store operates as an e-commerce platform, offering a range of kits and
accessories required to make zinc flower bouquets. The store's features encompass online
product browsing, secure online transactions, order placement, and delivery services within
Vietnam and some Southeast Asian countries through Shopee Global's shipping service.
Additionally, the organization plans to expand its operations to offer worldwide shipping
and open a physical store in HaNoi in the future. 2.4.5. Locations
Flozi Online Store is currently based in Vietnam, with its operations primarily serving
customers within the country. However, with plans to expand globally, the organization aims
to provide its products and services to customers worldwide via selling through Shopee Global Services 3. Economic part
3.1. Presentation of products
* The store's main products
The store's main products are pre-made kits to make zinc flower bouquets. In addition, we
also provide other retail goods for wrapping flowers such as colored velvet zinc, zinc
branches, flower wrapping paper, ribbons, wax tape, glue guns, plastic bags, cards, and LED
lighting. 1 set of zinc flower-making kits including velvet wire, zinc branches, wax tape,
flower wrapping paper, ribbon, and QR code with flower-making instructions. * The characteristics
The velvet wire branches come in a variety of eye-catching colors and it is easily bent into
many shapes. Zinc flower bouquets have a long shelf life for 5-7 years due to the duration
of zinc wire. When flowers are dusty, you can use a hair dryer to clean them or just take a
dry napkin to clean them. If there is a lot of dust, you can wash them under water and then
dry them. Also, zinc wire can be reused to create new products to make home decorations 8 * The usage
Customers can purchase zinc flower kits to create a unique birthday or anniversary gift for
their partners or to craft small floral arrangements for wedding parties or events. Moreover,
customers can utilize them to create decorative household items for holidays or celebrations. 3.2. Market study 3.2.1. The market
Our online store keeps priorities on the home market, once everything has settled down we
will go into the overseas market for growth. The handmade goods market in Vietnam is quite
competitive, but it is an open market and does not require too much capital to start selling.
Currently, the demand for handmade items in Vietnam is quite high because those items
have very high spiritual value and my shop's zinc flower-making kits also bring such positive spiritual values. * Political
● Laws and E-commerce Regulations: E-commerce policies for sellers on TikTok and
Shopee platforms can significantly influence the operation and marketing of handmade products online.
● Taxation and Fees Policies: Selling on e-commerce platforms like Shopee and
TikTok Shop requires monthly tax declaration. The tax payment is calculated at 1.5%
of the monthly revenue. Additionally, there are various service fees to be paid, such
as transaction fees, shipping fees, integration tool fees, and supplementary service fees.
● Transportation and Shipping Policies: The availability of shipping services, and
freight costs, impact the shipping expenses for customers purchasing items online.
● Stability and Government Support: Political stability and governmental support for
the development and encouragement of online businesses in Vietnam can influence
the online trade of handmade products. * Economy
● Economic growth: With the development of the economy, people's spending power
increases, providing them with more options and the ability to purchase more
expensive items rather than handmade zinc flower kits.
● Exchange Rates and Market Trends: As the store sources not only from Vietnamese
suppliers but also from Chinese suppliers, fluctuations in exchange rates will impact
the selling prices of the kits. * Social
● Consumer Trends: The trend of using handmade items in Vietnam is increasingly on
the rise due to their beautiful and meticulous designs, as well as their high spiritual
value. Additionally, creating handmade items can contribute to recycling and environmental protection.
● Cultural Preferences: Zinc flowers can be gifted on various occasions such as
birthdays, anniversaries, or used to craft small floral arrangements and tabletop
decorations for wedding parties and events. * Technology
● E-commerce Trends: The trend of online shopping is continuously increasing due to
the advancement of information technology. People find it easier to make purchase
decisions online because of various discount vouchers and free shipping offers
available, facilitating their decision-making process. 9
● Information Security: Currently, information security on e-commerce platforms is a
major concern for both customers and sellers. Some individuals exploit
vulnerabilities to steal customers' information for malicious purposes. * Legal
● Online Business Regulations: In Vietnam, online stores are supported and
encouraged by the government, so policies for online entrepreneurs are quite open and not overly strict.
● Copyright and Intellectual Property Laws: Issues related to protecting intellectual
property rights in Vietnam are not strictly controlled, making products that are self-
designed vulnerable to image and intellectual property theft by other shops. * Environment
● Using zinc flower kits allows for reusability in decorations as the lifespan of zinc
flowers can extend up to 5-7 years, thereby reducing waste disposal into the
environment. Additionally, gifting zinc flowers can limit the use of fresh flowers
while zinc flowers only require cleaning with a dryer to maintain their appearance. 3.2.2. The Competitive Market
The handcrafted products market in Vietnam is now quite active, yet competition is intense.
Compete not only on cost and quality but also on creativity. Zinc flower goods are offered
by just a handful of sellers across many e-commerce platforms, which indicates an average
amount of market competitiveness. But when compared to other types of handcrafted flower
products, the competitiveness of zinc flowers is truly high.
*For tables details, you can refer to the survey section in the appendix
The store has handled the survey conducted with the participation of 30 random individuals.
According to the survey results in Table 1 - 4, 80% of the participants were female, and 20%
were males aged between 15-30. Among them, the majority, comprising 73%, were
individuals aged 21-30, mainly office workers or involved in other professions. The
remaining 27% were individuals aged 15-20, currently students. According to the income
statistics, individuals with incomes ranging from $125 to $420 constituted 46%, while those
with incomes > $420 and < $125 comprised 27%.
Based on the survey results in Table 5, it can be observed that this group is quite interested
in handmade products, both in making and purchasing them. They appreciate receiving
handmade gifts and tend to carefully consider before making a purchase. This inclination is
due to the relatively higher average cost of handmade products, attributed to their uniqueness
and high spiritual value. Moreover, more than half of the respondents, or over 50%, showed
normal-interest in participating in handmade workshops.
Based on the survey results in Table 6 and 7, 72% of respondents had previously purchased
handmade products either directly from a store or online. Among these, the majority made
their purchases on Shopee and TikTok Shop. Purchasing through e-commerce platforms
provided the advantage of using discount vouchers, along with more time and options before
deciding to buy. Although TikTok Shop was established later than Shopee, it remains one of
the top choices for consumers due to its numerous promotional programs designed to boost
sales. Additionally, on TikTok, consumers have the opportunity to view product videos,
unboxing videos, try-on hauls, and store live streams before making a purchase. Therefore,
it's understandable why TikTok Shop is as popular and trusted as Shopee. 10
According to the statistics in Table 8 and 9, most people preferred buying zinc flowers and
wool flowers because these handmade products possess high spiritual value, durability, and
a longer lifespan compared to fresh flowers. The reason for favoring zinc flowers over wool
flowers is that while wool flowers are typically only available as finished products, zinc
flowers offer the option of purchasing kits to create meaningful gifts or buying pre-made
ones. However, according to the survey results, 67% of individuals prefer buying kits over
finished bouquets. Those who opted for finished bouquets were mostly in urgent need or
were less skilled in handicrafts, whereas most individuals preferred buying kits due to their
lower prices and the ability to personalize the gift, making it more meaningful.
Based on the survey results in Table 10,11,12 regarding the quantity of flowers in a kit, 67%
of respondents preferred kits with 7-8 flowers, while 20% chose kits with 3-5 flowers. The
remaining 7% preferred kits with more than 10 flowers. Kits with 7-8 flowers are suitable
for gifting or room decoration, whereas kits with 3-5 flowers are purchased by customers
interested in trying out the product. Additionally, most people chose bouquets with only one
or two types of flowers. This choice aimed to maintain the bouquet's uniformity and prevent
it from looking disorganized or monotonous. The price range that most individuals were
willing to pay for a kit was between $4.5 - $5.5 (40%) and $5.6 - $6.7 (33%) as they were
concerned about product quality and suitability, considering these prices reasonable.
According to the survey result in Table 13, customers are highly interested in receiving
monthly offers, exchange services, and returning defective products. With frequent
purchases, they receive exclusive privileges for loyal customers. As the products are
handmade, customer service is deemed crucial because some customers may require
assistance understanding instructional videos; hence, having someone available 24/7 for
guidance is essential. Additionally, few individuals showed interest in personalized kit services.
From this survey, it's evident that there is a considerable demand for handmade products,
and people tend to purchase them through e-commerce platforms due to the availability of
discount codes and the ability to compare prices and quality before making a purchase.
Moreover, the diverse pricing of products contributes to a highly competitive handmade product market in Vietnam. 3.2.3. The customer a. The target customers
Young adults (20-30) in Vietnam have an average income from 125$ - 420$ per month due
to the store's concentration on online sales through local e-commerce platforms b. Customer’s interests
● Customers like to give gifts that have many meanings and high spiritual value
● Customers love handmade, unique items and like to make DIY items
● Customers often prefers shopping online rather than going to a store to buy directly c. The buyer's motivation
● In Vietnam, there are many holidays for women, so shopping demand increases on
special occasions for products used as gifts.
● Product prices are suitable for customers' income 11
* Description of Regular Buyers' Profile Personal Information Name: Nguyen Thao Anh Age: 26 years old Occupation: Office staff Address: Hanoi, Vietnam Income: 290$ per month Interests
- Passionate about art and crafts.
- Fond of exploring unique and creative products.
- Interested in supporting handmade production. Shopping Preferences
- Often purchases gifts for friends and family from unique stores
that offer high aesthetic value.
- Interested in personalized and unique shopping experiences. Shopping Behavior
- Frequently shops online, especially for handmade products.
- Seeks professional and reputable online stores for shopping. Shopping Goals
- Seeks unique products with long-term utility and a reflection of individual personality.
- Aims for a unique shopping experience and seeks professional guidance from stores. Interacting with Store
- Regularly follows the store's website and social media pages.
- Engages by commenting and sharing information about products
and personal shopping experiences. 3.2.4. The competitors
The store's main competitors are sellers selling zinc flower-making kits on the e-commerce
platforms TikTok Shop and Shopee. Therefore, below I have selected and analyzed the most
prominent competitors on each e-commerce platform: Han Handmade Store (TikTok Shop) and Coffee_Flower (Shopee). Han Handmade Store Coffee_Flower The Scale
Small scale and only sold online on e-commerce platforms Reputation - Followers: 36.5K - Followers: 10K - Store rate: 4.7/5 - Store rate: 4.8/5
- Best-selling products average: 250 - Best-selling products average: 226 products/month products/month Product
+ Flower kits are quite diverse and colorful
+ Complete flower bouquets are available for sale
+ A variety of retail materials for making flowers such as zinc branches,
colored chalk, LED lights, artificial pistils, etc. 12 Price + 1 flower kits: $3.5 - $7
+ 1 flower making set: $2.4 - $4.84 + Complete bouquet: $6 - $11
+ Zinc wire: 1$/ 100 branches,
+ Zinc wire: $1.2/100 branches, 30cm long 30cm long + Flower wrapping paper, wax
+ Bag, zinc branch, chalk, lamp,
tape, bag, chiffon fabric: $0.14 -
wax tape, artificial pistil: $0.4 - $1.8 $0.33 Product
+ The product is as beautiful as in
+ Beautiful, cheap and beautiful Review the photo product
+ Set of many accessories, full + Full set, shop gives extra flower bouquet
accessories to make more products
+ Reasonable price with quality than expected Market
+ Young adults from 20-30 years old have average income + Vietnam domestic market
+ customer group that favors handmade products
+ Focus on customers who want to buy online
Distribution TikTok Shop and Shopee Shopee channel Marketing - Building and creating sales
- There are promotions, gifts, Strategy channel content on the TikTok discounts, and free shipping platform. The channel reached
- Write content and run ads on
13.8K Followers and 114.1K Likes
Facebook, attach redirect links via
- There are promotions, gifts, Shopee
discounts, and free shipping on holidays
- Livestream sales 3 times/week on TikTok
- Run ads to increase conversions on
live streams and product videos Strengths
- Has a good reputation and positive - Receives many positive reviews
reviews on e-commerce platforms: from customers on Shopee. TikTok Shop, Shopee.
- Diverse range of products: flower-
- Diverse range of products: flower- making sets, pre-made flower
making sets, Christmas tree-making bouquets, flower-making tools. sets, etc. - Offers multiple discount - Offers a variety of unique
vouchers, free shipping codes, and
decorative accessories for bouquets. gifts. - Offers numerous discount
- Prices are competitively lower
vouchers, free shipping codes, and compared to the market. gifts.
- Engaging content with captivating
videos that garner high interaction. Weakness
- Priced higher compared to the
- Haven't invested in content and general market. marketingon social media
- No physical store for customers to platforms. make direct purchases.
- No physical store for direct
- Slightly delayed delivery times. customer purchases. 13 3.2.5. SWOT Analysis
Here are the analyses of the strengths and weaknesses of the store, as well as the
opportunities and challenges of the market affecting the store's business operations. a. Strengths
● Wide product variety: The online platform allows the store to showcase a wide
variety of flower arrangements that may not exist before in the market. Customers
can browse through a diverse range of options providing them with a greater
selection compared to a physical store.
● Convenience and accessibility: Customers can browse and purchase products from
the comfort of their homes or on-the-go, at any time of the day.
● Cost-efficient operations: The store can save on expenses such as rent, utilities, and
staff, allowing for potentially higher profit margins or competitive pricing rather than the physical store.
● Data analytics and insights: Online platforms offer data analytics tools that provide
valuable insights into customer behavior, preferences, and purchasing patterns. b. Weakness
● Limited sensory experience: Online shopping lacks the sensory experience that
customers can have in a physical flower shop. Customers are unable to see, touch, or
the flowers before making a purchase, which may deter some potential buyers.
● Delivery and Logistics: Dealing with a large volume of orders or during peak
periods such as holidays can be a logistical challenge. Managing delivery networks,
coordinating with couriers, and maintaining quality control can be complex.
● Price sensitivity: Customers shopping for flowers online can be price-sensitive, as
they have the option to compare prices across different online stores. Offering
competitive pricing while maintaining quality and profitability can be a challenge.
● Reality demand: Demand for flowers only increases during peak seasons and
holidays, causing products to be out of stock in time to serve customers' needs. c. Opportunities
● High applicability: Zinc flowers have high applicability, not only used as gifts but
also can be used to decorate homes, classrooms, desks, etc.
● The developed market: The industry market for selling handicrafts is quite
developed and popular in Vietnam.
● Social media and influencer marketing: The store can utilize platforms like
Instagram, Facebook, and TikTok to showcase its flower arrangements and engage
with an audience interested in unique and artistic designs. Collaborating with
influencers, KOL/KOC in the floral or handmade niche can also help increase brand visibility and reach.
● Personalization and customization: Customers appreciate the ability to tailor their
orders according to their preferences, such as selecting specific flower types, colors, or arrangements. d. Threats
● The competitive market: Being a highly saturated market, there are many
competitors because the capital spent to do business is not too much, competing with
other handmade flower products on the market such as woolen flowers, teddy bear flowers.
● Changing consumer preferences: The store needs to stay updated on market trends
and adapt its offerings to meet evolving customer expectations. 14
● Price pressure: Price competition can be a significant threat to a handmade online
store. Customers may be willing to compromise on quality and opt for cheaper
alternatives, impacting the demand for higher-priced handmade products.
● Shipping and handling challenges: If the store fails to ensure proper shipping and
handling, it could lead to customer dissatisfaction and negative reviews. 3.2.6. Five Forces Model a. Threat of New Entrants
• Intensified competition: Currently, there are many sellers offering handmade
goods through various channels: online platforms, physical stores, workshops, due
to low capital requirements and easy access to raw materials.
• Challenges for new sellers: With the market being highly saturated, the
competition is intense, making it difficult for new sellers to establish a brand
identity and compete on price.
b. Bargaining Power of Suppliers
• Local wholesaler: By sourcing from local wholesalers, the store saves time on
importing, directly checks product quality, and negotiates long-term relationships,
enabling easy access to product at competitive prices.
• Chinese wholesaler: Although importing from Chinese wholesalers takes longer
and lacks direct quality checks, their prices are cheaper, and they offer a wider variety of products.
• Printing factory: The store can print flower wrapping paper, cards according to
their own designs for various occasions. Bulk printing leads to lower costs, and
with numerous printing factories in Hanoi, the store can choose based on quality comparison. c. Bargaining Power of Buyers
• Based on survey results, customers are mostly young adults (aged 20-30), with 40%
indicating a price range of $4.5 - $5.5 for products. This suggests that customers
are willing to pay moderately and not excessively for handmade products.
However, for highly personalized or specially designed items, they may accept higher prices.
• Diverse options: Customers can easily access and compare prices and quality
through social media reviews, being drawn to the uniqueness and variety of
products, offering more choices compared to other sellers.
d. Threat of Substitute Products:
• The similar products: Instead of purchasing zinc flower-making kits, customers
can opt for pre-made zinc flower bouquets (if they lack time) or buy fresh flowers,
knitted flowers, teddy bear flowers, wax flowers, etc.
• Gift products: In addition to handmade zinc flower products, there are many other
gift options available on the market for customers to consider, such as teddy bears,
scented candles, knitted items, etc.
e. Intensity of Rivalry among Competitors
• E-commerce platforms: Sellers on platforms like Shopee and TikTok Shop are
direct competitors offering similar products. 15
• Wholesale suppliers of zinc flower-making materials: Competitors provide cheaper
materials, allowing customers to find DIY tutorials online to craft their own products. 3.3. Strategy
3.3.1. Segmentation Targeting Positioning a. Segmentation
*Demographic Characteristics
● Age: 20 - 30 years old (young adults) ● Gender: Both genders
● Income: Average range from $125 - $420 per month
*Psychographic Characteristics
● Interests: Fond of beautiful and unique items with high personalization, reasonable
prices, and high spiritual value.
● Lifestyle: This group has a strong environmental consciousness, supporting the use
of handmade items to protect the environment and local businesses.
*Behavioral Characteristics
● Shopping Frequency: This group tends to shop on e-commerce platforms during
special sale events like Double Day Sales (3/3, 4/4, 5/5), mid-month, and end-of-
month sales. Additionally, there is a growing trend of seeking cheaper items on
livestreams as they are often priced lower than daily rates.
● Purchase Decisions: This customer group is influenced by social media and
influential individuals. However, they tend to be more meticulous and cautious due
to exposure to various references, options, and time before making purchases. They
prefer quality over quantity and are willing to pay a premium for handmade, durable products.
● Interaction: This is the primary group with significant interaction on social media.
Product acceptance in the market largely depends on their engagement through likes, shares, and comments.
● Response to Marketing Strategies: Customers appreciate promotional programs,
discount vouchers, free shipping, and receiving gifts. *Geographical Location
● Vietnamese Customers: Primarily engaged in online purchases and shipping within
Vietnam. The store focuses on designing zinc flower-making kits suitable for various holidays in Vietnam.
● International Customers: Our store is registered on Shopee Global to sell to foreign
customers as this customer segment is also interested in handmade items.
Due to the survey result in part 3.2.2 the store sells zinc flower kits for customers to purchase
and create personalized gifts for friends, partners, or home decor. Thus, the product does not
have a gender-specific target audience. We chose the young adult segment aged 20 - 30 with
an average income of 125$ - 420$ per month as they have high purchasing needs, tend to
shop online, and are easily influenced by others' decisions. Moreover, this age group is often
in romantic relationships and prefers unique, spiritually meaningful gifts like handmade
items for gifting purposes. The price range of the kits varies, which is entirely reasonable
based on the customers' income level. Additionally, apart from targeting Vietnamese
customers, the store also caters to international customers through Shopee Global, as there
is a preference among international buyers for using handmade items. 16 b. Targeting Target Customer Chosen: *Demographic ● Age: 20-30 years old
● Occupation: Young adults in urban areas
● Income: Moderate to high income levels *Psychographic
● Lifestyle: Individuals who appreciate quality craftsmanship and unique, personalized items.
● Values: Value authenticity, sustainability, and artisanal products.
● Hobbies/Interests: Interested in fashion, unique accessories, and supporting local businesses. *Behavioral
● Purchase Behavior: Prefer quality over quantity, willing to pay a premium for handmade, durable products.
● Online Behavior: Actively engage on social media platforms, follow fashion trends, and seek out niche brands.
● Shopping Habits: Likely to explore local markets, craft fairs, and online platforms
for unique and artisanal goods.
Due to the survey result in part 3.2.2, our business targets this customer segment because
there's a growing market trend among young adults valuing uniqueness, authenticity, and
quality over mass-produced items. Moreover, this demographic segment generally has
disposable income and is willing to invest in high-quality, artisanal products, allowing for
potentially higher profit margins. The values and preferences of this target market align well
with the brand's craftsmanship, sustainability, and uniqueness. As the interest in handmade,
personalized items increases, there's a potential for establishing brand loyalty and expanding
the customer base through positive word-of-mouth and online visibility. In summary, this
customer group is a potential customer base for the store to gain profits, allowing for store
development and the creation of more innovative and creative kits. c. Positioning
At our shop, we take pride in offering special kits made by skilled artisans that are different
from the usual options out there. Every month, we introduce two new themed kits that
showcase fresh and creative designs, all made in collaboration with talented crafters. Also,
we make custom kits for important holidays in Vietnam, knowing that people love these
unique items during festive times.
What makes us stand out isn't just our focus on quality, but also our love for variety. We
know how important it is to create unique experiences. That's why we include QR-coded
tutorials in each kit, combining technology and creativity to give our customers easy-to-
follow videos and PDF instructions for assembly.
We really understand our main customers: the tech-savvy folks aged 20-30 who prefer to
shop online. Plus, we've noticed that combining flowers with small thoughtful gifts is a hit.
This combo leaves a lasting impression, building loyalty and encouraging people to come
back for more. We're active on social media platforms like Facebook, Instagram, and
TikTok, knowing that TikTok is really popular among our target customers. 17
We're not just looking at local market. We dream of going global, reaching customers all
around the world. And in the long run, we plan to open physical stores not just in Hanoi but
in different cities across Vietnam. This way, we can bring our unique products closer to
people, giving them a real shopping experience and showing how committed we are to top- notch quality. 3.3.2. Marketing Mix 4P a. Products
● Offer distinctive and creative floral arrangements that separate zinc flower kits apart
from competitors. Focus on artistic designs, unusual flower combinations, and
innovative presentation styles and launch more marketing campaigns for special
holidays such as Valentine, Women's Days, Teacher Days, Christmas Day to make
more kits match with the holidays theme
● Each month research and create 3 new kits according to the month's theme and we
also provide monthly flower subscription boxes with different themes or styles
● Customizable gift sets that include flowers along with other handmade products like
candles, soaps, or artisanal chocolates for special holidays. b. Price
● Incentivize customers to refer their friends and family by offering rewards or
discounts for successful referrals. This can help expand the customer base through word-of-mouth marketing
● Send personalized messages to previous customers on special occasions like
birthdays or anniversaries, offering discounts or incentives. c. Place
● Online store in Vietnam, shipping nationwide as long as it is within Vietnam
● Primarily distributed via Vietnamese e-commerce sites like Shopee, TikTok Shop,
Lazada, etc. In Shopee, our stores can register Shopee Global accounts to serve
customers from overseas. If things go well, the shop will soon begin selling on
international e-commerce sites like Amazon, etc. d. Promotion
● Use platforms like Facebook, and Instagram to run post ads. There will be four
updates per week across all channels.
● We will upload three videos per week on TikTok promoting them with
advertisements and sharing behind-the-scenes content, floral tips, and customer spotlights.
● Livestream sales and increase conversions on TikTok and Shopee
● Booking KOLs and KOCs to record videos promoting our products. Booking fees
and commissions for linking products will vary for each KOL/KOC according to
their distinct levels of visibility. Commission rates will be 5-7% for each item sold.
● Sign up for a global account, promotional packages, free shipping, and giveaways on TikTok Shop and Shopee 18 3.3.3. Business Model CANVAS Business Model CANVAS Key Key Activities Value Customer Customer Partners Proposition Relationships Segments -Suppliers - Sourcing zinc - Meaningful - Responsive - The target from China, flowers
gifts →Bonding customer service customers: The Vietnam accessories relationship through live chat young adults (20- 30) in Vietnam - Logistic - Designing - Convenient - Assistance in market via local agencies and creating online ordering
selecting the right e-commerce unique floral and delivery flowers. platforms kits services. - Local - Special offers - Individuals Printing - Managing and loyalty who enjoy Factories in online order
programs to foster buying handmade Ha Noi processing long-term flowers for relationships. personal use or as gifts - Fulfilling and - Social media delivering engagement to - Event planners orders in a connect with and businesses in timely manner customers and need of floral showcase floral arrangements for - Providing kits designs special occasions. for retailers, event planner - Retailers who want to sell zinc Key resources Channels flowers - Relationships - Social Media: with local and Facebook, foreign TikTok, suppliers Instagram - Skilled floral - E-flatform: designers and TikTok Shop, knowledgeable Shopee staff. - Delivery infrastructure and logistics. - Network with KOLs/KOCs - Relationship with retailer, event planner 19 Cost Structure Revenue streams - Cost of goods, including
- Sales revenue from flower and product purchases accessories, packaging, and
- Additional revenue from customization fees or add-on related products. services - Staff salaries
- Revenue from collaborations or partnerships with - Marketing and advertising event planners or businesses costs
- Revenue from proving kits for retailers - Operational costs such as logistics and delivery
The Business Model Canvas table above summarizes all business activities, value
positioning, supply sources, media channels for promotion as well as estimates of the store's
costs and revenue sources. Below I will present the strategies the store uses to attract new
customers as well as maintain relationships with old customers.
3.4. Sale: Sale list, Sale detail, Sales Evaluation
We could divide the store’s products into 4 seperated groups based on customer’s level
propensity to purchase these items.
* Product Group 1 (main products): 13 sets of flower kits
Product Group 2: Product Group 3: Product Group 4: 20