Toast Box
Firstly joining food and drink market in 2005, Toast box now becomes a well-know business with 71 outlets in Singapore and other six Asian countries. This seven-year-old trademark serves up various sorts of bread and coffee with traditional flavor, reminding of the warm atmosphere of local Nanyang coffee shops of the 60s and 70s. Aiming at reinforcing its special strong position in the market, starting a franchise in Vietnam has been put under Toast box’s consideration. This will open the business up - on the one hand to opportunities of expanding its outlet system, and on the other to pressure from coping with more competitors in an unfamiliar market.
Firstly, the advantages of franchising Toast box in Vietnam concerns its profit from name recognition and assorted and distinctive food and drink. It usually takes long time for a business to develop a recognizable presence with the customers; however, compared to normal start-up enterprises, Toast box has already succeeded in attaining a stable status in people’s mind through its websites and social network like Facebook. In addition, various sorts of bread and coffee also make Toast box stand out from other competitors. Its distinctive flavor of freshly toasted bread and fragrant coffee creates unforgettable experiences for everyone tries it at the first time. Toast box would soon become a part of Vietnam cuisine culture.
Besides, franchising in Vietnam also puts Toast box at a considerable disadvantage. As Vietnamese personal income is not really high, Vietnam is a relatively sensitive market to price strategies. Admittedly, not many people are willing to pay 2-5$ for each breakfast with a cup of Milo Dinosaur coffee, a thick toast bread set, or Nonyan Laska in Vietnam. Meanwhile, Toast box’s competitor are putting premium on cheap price, which may pose huge challenge to the new comer. Unless the price strategy is taken into careful consideration, Toast box may lose out its fans in Vietnam.
In conclusion,
Firstly, the advantages of franchising Toast box in Vietnam concerns its profit from name recognition and assorted and distinctive food and drink. It usually takes long time for a business to develop a recognizable presence with the customers; however, compared to normal start-up enterprises, Toast box has already succeeded in attaining a stable status in people’s mind through its websites and social network like Facebook. In addition, various sorts of bread and coffee also make Toast box stand out from other competitors. Its distinctive flavor of freshly toasted bread and fragrant coffee creates unforgettable experiences for everyone tries it at the first time. Toast box would soon become a part of Vietnam cuisine culture.
Besides, franchising in Vietnam also puts Toast box at a considerable disadvantage. As Vietnamese personal income is not really high, Vietnam is a relatively sensitive market to price strategies. Admittedly, not many people are willing to pay 2-5$ for each breakfast with a cup of Milo Dinosaur coffee, a thick toast bread set, or Nonyan Laska in Vietnam. Meanwhile, Toast box’s competitor are putting premium on cheap price, which may pose huge challenge to the new comer. Unless the price strategy is taken into careful consideration, Toast box may lose out its fans in Vietnam.
In conclusion,