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PHO 24

EXECUTIVE SUMMARY Pho noodle soup first appeared in 1920s, it is less than 100 years old. However, it developed incredibly fast and become delicious specialty in Hanoi. PHO has been the most famous dish of Vietnam but it was only known as street food for many decades. Therefore, this is an excellent opportunity to create a new business concept that meets the high standards but still preserving the traditional value. PHO 24 is the leading company to create PHO brand and introduce PHO to the world. PHO 24 has invented a unique flavor for PHOs broth derived from 24 top-quality ingredients and spices and is highly appreciated by customers in nation-wide as well as the international market. PHO 24 opened outlets in Indonesia, Cambodia, Philippine, Korea, Australia, Macau and Hongkong. Next year, in 2011, PHO 24 intends to enter Taiwan market because Taiwan is the potential market. To ensure profitability and sustainable development before opening PHO 24 outlet, we conduct the market survey to explore and understand Taiwan market. We focus on Taipei the capital of Taiwan where the peoples living standard and consuming rate is high. The main segmentations concerned in our survey include Taiwanese people living in Taipei, Vietnamese students and Vietnamese labors studying and working in Taipei. The main objective of our study is to understand the eating behavior, the preference as well the attitude towards Vietnamese food in general and Pho in particular of the above segmentation. Based on our analysis, we give the development strategy for PHO 24 in Taipei market to satisfy the customers needs as well as introduce Vietnamese food and culture in Taipei.



PHO24 is a Vietnamese noodle restaurant chain belonging to Nam An Group, the biggest F&B Corporation in the country. Apart from PHO24, Nam Group owns and operates many other different F&B brands including An Vien, Maxims Nam An , Thanh Nien , An , Goody , Goody-Plus , Bamizon , Ibox Caf , etc. The first PHO24 outlet was opened in June 2003 on Nguyen Thiep Street, opposite to the prime landmark Saigon Sheraton Hotel. By December 2009, PHO24 has opened 80 outlets in Vietnam: Ho Chi Minh City, Ha Noi, Da Nang, Vung Tau, Nha Trang, Binh Duong; and 13 outlets in overseas: Jakarta (Indonesia), Manila (Philippines), Seoul (Korea), Phnom Penh (Cambodia), Sydney (Australia) and Hong Kong (Macau). PHO24 plans to open more stores in all major cities of Vietnam as well as in overseas markets where there are extensive Asian populations. The founders believe that PHO24s business concept is unique but easy to multiply due to its small space requirement, low investment, standardized operational procedures and most importantly the top quality of the food. In 2004, 2005, 2006 & 2007, PHO24 has been consecutively the winner of The Guide Awards voted by readers of Vietnam Economics Times, Thoi Bao Kinh Te Viet Nam and Tu Van Tieu Dung magazine. On 2/2010, PHO24 is one of 10 Top of THE AUTHENTIC AND ATTRACTIVE FOOD WITH VIETNAMESE FLAVOUR Company Milestones  2012: goal to reach 200 restaurants in total  2010: goal to start in China, Japan and USA. The sixth and seventh stores in Indonesia were opened as well the second store in Korea  December 2009: presumably 80 PHO24 - units in total (more than 40 in HCMC) of which are 13 outside of Vietnam (in Indonesia, Cambodia, Korea, Philippines, Australia and Hong Kong - Macau).

 August 2009: New franchise contracts for Hong Kong and Macau. First unit slated to open in Hong Kong and Macau in October, 2009.  March 2009: milestone 70 outlets after 6 years in operations  September 2006: strategic investment cooperation with Vina Capital  July 2005: first franchise outlet outside of Vietnam (Jakarta/ Indonesia - to day 6 PHO24 restaurants).  January 2005: first franchise outlet in HCM City  December 2004: first outlet in Hanoi, Vietnam Capital and also considered as Pho capital  June 2003: first opening on 5 Nguyen Thiep Street, District 1, Ho Chi Minh City. Very quickly popular. Business Philosophy - Based on quality, customer service and integrity, PHO 24 will satisfy their customers in nationwide and oversea. - They will expand their successful recipe and operation know-how through franchising concept but with careful selection of franchisees. Ideas and Business Concept PHO24 has invented a unique flavor for PHOs broth derived from 24 top-quality ingredients and spices. This unique taste has been warmly welcomed by not only the customers from HCM City but also Ha Noi, Da Nang, Binh Duong, Vung Tau, Nha Trang and other provinces. The overseas market however will be the largest one. By July 2009 they have stores in Jakarta (Indonesia), Manila (Philippines), Phnom Penh (Cambodia), Seoul (Korea) and Sydney (Australia). In this August, PHO24 will open the sixth outlet in Jakarta Indonesia. Furthermore, In October 2009, PHO24 will be first introduced in Centre Business District in Hong Kong and the second outlet in Seoul, Korea will follow by. Japan, China and the United States are expected to be next destinations of PHO24 in 2010.

Vision To be the number one brand of Vietnamese quick service restaurant in the world Mission Deliver operational excellent in our restaurants Achieve enduring profitable growth through world class management, innovation and technology PHO 24 PRODUCTS Pho 24 has many kind of pho which is invented a unique flavor for PHOs broth derived from 24 topquality ingredients and spices.

LIST Small size Pho with beef Pho with chicken Pho with beef meatballs

VND 35,000 42,000 42,000 45,000

NT$ ~ 60 ~70 ~70 ~75

Combination pho Pho All Large size

50,000 60,000 55,000

~83 ~100 ~91

Pho without meat Pho with beef fillet & fat brisket Pho with beef fillet & well-done brisket American beef Noodle

35,000 42,000

~60 ~70





American beef noodle



Besides pho, Pho 24 has provided customers with variety of desserts, fresh fruit juice, blended fruit juice, refreshment, coffee and tea to meet the customers tastes and offer many choices to customers, even the elderly or children. PHO 24 outlets The first PHO24 outlet was opened in June 2003 on Nguyen Thiep Street, opposite to the prime landmark Saigon Sheraton Hotel. By December 2009, PHO24 has opened 80 outlets in Vietnam: Ho Chi Minh City, Ha Noi, Da Nang, Vung Tau, Nha Trang, Binh Duong; and 13 outlets in overseas: Jakarta (Indonesia), Manila (Philippines), Seoul (Korea), Phnom Penh (Cambodia), Sydney (Australia) and Hong Kong (Macau). Different from traditional pho which is sold in the street, Pho 24 outlets bring the relax, clean and comfortable space for customers. All tables, chairs and other furniture are covered in two main colors including green and black. The design and the styling represent as PHO 24 slogan The attractive combination. It is the perfect combination between tradition and modern.



We choose Taipei as main market for PHO 24 launch because of the following reasons Recently, more & more Vietnamese people come to Taiwan for working, studying. According to COA, in 2009, there are 85,528 people which account for 21% oversea workers. The Vietnamese people working at Taipei account for 42%. Vietnamese people like eating pho for breakfast or sometimes consider pho as soul food of Vietnam Besides, in term of culture, Taiwan and Vietnamese have the similarities in eating habits such as using chopsticks, bowl or rice. In Taiwan, the material for processing pho is not difficult as other countries. Taiwan is potential market to introduce Vietnamese food, especially pho because there are many Vietnamese restaurants have launched and received Taiwanese supports. The main objective of this research is to launch PHO 24 outlet at Taipei, we focus on segmentation  Taiwanese people who live in Taipei  Vietnamese students studying in Taipei  Vietnamese labors working and living in Taipei The reason why we choose 3 segmentations because what PHO24 wants are to introduce Vietnamese PHO and PHO 24 brand to international market and bring the genuine Vietnamese taste to Vietnamese people living oversea.

We use Quantitative method with the aim to Find out the perceptions, perceive and attitude of Taiwanese people toward pho Vietnam Understand the eating behavior, perception and attitude of Vietnamese students and labors studying and living in Taipei We design the questionnaires and implement survey via online survey system and send directly. Some images of survey process:



The sample size we carry out survey is:

We use SPSS software one of the effective software to analyze our findings

1. Taiwanese people living in Taipei Personal information

Eating behavior As of the below charts, almost of surveyed people choose eat-out more than cooking at home. We interview some people and the reason they give is that eat-out saves time for them and its flexible for them to choose eating time as well as the foods. Like Vietnamese people, Taiwanese people choose dinner as main meal of day.

 Kind of restaurants Most of people choose casual dining and family style as their favorite kind of restaurant. Fast food and fast casual dinner are the kind which the choice of people is lowest In comparison between family style and casual dining, as of charts, people who have family choose family style more than the single one.

 Most of them go to restaurants with their family, friends as well as boyfriend/girlfriend

 In the food pyramid, they choose fruit and meat as main food

 3 flavors they like are sweet, chilly, light-salted

There are difference between the age and flavors: The elder with the age more than 40 years old, they tend to choose light-salt than the youngers.