Vietnam

CULINARYON GLOBAL

Vietnam 2020

Preliminary market fact finding

In Vietnam there is potential to open, in two major cities Ho Chi Minh and Hanoi. Both cities perform very well for socio-economic momentum with fast-growing populations and economies.
Secondary cities like Hue and Da Nag are small and not sufficiently developed.

• Ho Chi Minh: the financial center, is generally viewed as the more business-friendly destination attracting more overseas investment along with a higher corporate presence,

• Hanoi: The capital and political center, Hanoi has lagged commercially but is a city that is swiftly evolving.

Population

7,6 Million

8.4 Million

Both large cities

GDP per capita

3,425$

5,428$

35% lower in Hanoi

GDP growth rate

6.9%

7.6%

Fast growing

City profile

Capital & political

Financial center

-

Average salary

366.91$

390.79$

Both competitive

PCI index (entry cost)

8.2

7.3

Ho Chi Minh is more competitive

PCI index (entry cost)

8.2

7.3

Ho Chi Minh is more competitive

PCI Index – Time Costs

7.07

7.04

Similar

Ho Chi

To choose the best location we need local insight, as a lot of factors might influence the local dynamic and eventual fit of our concept. For example proximity to a market might be important as tourist value market tour.

Which district you recommend? here some examples:

Tay Ho District: 164K residents
High end restaurants (western food options mainly like: el Gaucho, Cousin), Luxury Hotels (Sheraton, Intercontinental). Expatriate hub (Xuan Dieu street and To Ngoc Van street.)

Hai Ba Trung District: 491K residents
Shopping area (2 of Hanoi's largest malls, Vincom Center and Vincom Times City) It is also home to commercial streets like Pho Hue and Ba Trieu, both of which are filled with fashion boutiques. It is also called the working district (large amount of office buildings)

Hanoi Cooking cetner

Open Class: 60USD (1380000 VND)

• Vietnamese & Int. Cooking class
• Street eats and market tour
• Corporate team building
• Cooking for kids

44 Chau Long Street (Old quarter)

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Apron up cooking class

Open Class: 8 Pax max 38 USD

• Daily cooking class of 3 hours starting with market tour
• Private class and open classes

Same facility two brands (apron up and miss hanoi cooking class)

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Rose Kitchen

15 Pax max 40 USD
4.5 hours

Cooking class + Visit to local market

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AirB&B experinces

28A total of 21 Cooking classes with capacity of maximum of 10 guests each
Prices of first 5 results

1. 35 Usd French villa (rose kitchen)
2. 35 Usd French villa
3. 28 Usd local home
4. 31 Usd restaurant
5. 35 Usd French villa

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Ho Chi Minh

To choose the best location we need local insight, as a lot of factors might influence the local dynamic and eventual fit of our concept. For example proximity to a market might be important as tourist value market tour.

Which district you recommend? here some examples:

District 1:
It is considered as the business hub. District 1 is home to a lot of hotels, offices, restaurants, bars, clubs, consulates, banks and many of the best coffee shops of Ho Chi Minh city.

District 3:
District 3 is around 2-3 KMs from smack bang middle of D1. It is the little extension of D1 and also considered as downtown and quite central Saigon. It has significantly more green and has more trees compared to District 1 and a fair bit ore of colonial architecture.

Grain Cooking classes

2 cooking sessions per day
15 to 100 guest capacity

Open Class: 48 USD per person
Private class: 85 USD per person (Min 8)

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Saigon cooking classes

Team building:
50 Usd: street food challenge
45 Usd: Market race
27 Usd: 1h challenge

Open classess: 40USD

Associated with Hoa Tuc restaurant.

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HCMC

Open class 59 USD per person

Located in farm like environment

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Provincial table

Open Class
38 - 45 USD (3.5 to 4.5 hours)

Private event
60USD not clear min number of guests

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Vietnman cookery classes

Open classes 37 USD

Oldest cooking school in Vietnam
Very old style

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Saigon cooking classes

Team building:
50 Usd: street food challenge
45 Usd: Market race
27 Usd: 1h challenge

Open classess: 40USD

Associated with Hoa Tuc restaurant.

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Business & premium zones

There are several important zones in the city

Business zones

City Life
Fiera Milano
Fondazione Parada
Gioia
Milano Romolo
Maciachini

Luxury zones

Il quadrilatero della moda
Il centro storico – zona Duomo
Brera
Quartiere Isola

There are also two areas in the city - Navigli and Isola, with a lot of bars, restaurants and shops, where the milanese people spend their time in the evening. Isola is the new developing area to take into consideration, because of the relatively low rental prices at the moment.

CULTURE

Cultural features and traditions

Italians in general are very open, sociable and extroverted people who like enjoying good communication, sunny weather, delicious food, tart coffee in the morning, good wine in the evenings and a pleasant atmosphere.

FOOD

Wherever you are, whoever you talk to, talking about culinary art will sooner or later become the center of attention. Italians willingly share the recipes of their favorite dishes, scout places where you can buy the best and freshest products, and also experiment with food.

FAMILY

Family means a lot to any Italian. A modern family in northern Italy consists of parents and children, and the distribution of functions in it is less traditional. But for modern Italian families it is still important to bring all relatives together on weekends or holidays.

CULTURE AND AESTHETICS

Every city, every street, every square in Italy is history. Beautiful architecture, sculpture, murals, painting affect people in their daily lives. Life in this aesthetically beautiful environment shapes the creative character of people there.

MILANESE PEOPLE

As with the city, Milanese people are renowned for their lifestyle and their looks. Beyond the pretentious image of mobile-toting fashion victims, the Milanese are self-assured, hard-working business people, leaving in high dynamics.

ECONOMY

Milan economy trends

Over the past five years, GDP (Gross Domestic Product) growth in Milan and the surrounding area has increased by some 9.7 % – more than twice as fast as the national increase of only 4.6 per cent.

Milan has now left the crisis behind and is the leader among European 'growth locomotives' for reputation. Its strong point is its production system.

Milan's GDP in 2018 registered + 6.4 per cent compared to 2008, compared with a national average still negative by -3.3 per cent, and a + 9.7 % in comparison with 2014 (+ 4.6 % in Italy)

Milan is home to many of Italy's major corporations, and 27 of the world's 100 largest companies, including Italy's largest bank (UniCredit) and the world's biggest eyewear company (Luxottica) are headquartered in the Lombard metropolis.

Other major Milan-based corporations and banks include Luxottica, Borsa Italiana, Telecom Italia Mobile (TIM), Intesa Sanpaolo, Banca Popolare di Milano, Vodafone Italy, Odeon TV, Fininvest, Edison, Esselunga, FinecoBank, Versace, Gucci, La Rinascente, OVS, Alfa Romeo, Prada, Etro, Pirelli, Compagnia Generale di Elettricità, 10 Corso Como, Valentino, Armani, Missoni, Moschino, Telelombardia, RCS MediaGroup, Anfatis SpA and BBPR.

Learn more about Milan's economy

TAXES

Payroll & Taxes in Italy

In Italy the standard Vat rate is 22% and reduced rates are provided for several supplies of goods and services, such as 4% for listed food, drinks and agricultural products or 10% for electric power supplies for listed uses and listed drugs. Specific supplies of goods and services are exempt from Vat, for example education, insurance services, specific financial services, supply, leasing of particular immovable property.

Italian corporate entities are subject to a corporate income tax, known as imposta sul reddito sulle società or IRES (24%), and to a regional production tax, known as imposta regionale sulle attività produttive or IRAP.

Italian individual income tax. Taxation of an individual's income in Italy is progressive. In other words, the higher the income, the higher the rate of tax payable.
In 2019 the tax rate for an individual is between 23%-43%, In addition to direct taxation (IRPEF), there is also a Lombardia regional tax of 1,23%-1,74% and a Milan municipal tax of 0,8%.

The Italian employer, in order to pay social security contributions for employees, must register with the Italian Social Security Administration (Instituto Nazionale Previdenza Sociale or INPS). Employer's charge is around 30%. Employee's charge is around 10%.

There are no laws in Italy regulating the frequency with which employees should be paid; in most cases, employers are expected to pay their employees on a monthly basis by the 27th of each month.

Despite the variances payment timelines, most employers in Italy universally provide a 13th month bonus to their employees, often paid in December.

A 40-hour workweek is standard in Italy and overtime applies to hours exceeding the 40-hour threshold, at a cap of 8 hours per week and 250 hours per year. Overtime rates and other wage considerations are stipulated under the collective agreements.

The minimum length of annual holiday leave is 4 weeks per year. Employees are entitled to 3 days paid sick leave, 5 months' maternity leave, and other potential leave options.

As of September 2019, the general unemployment rate in Italy is 9.9% and in Milan is 2.9%

COMPETITORS

What's on Culinary schools market?

There are several studios in Milan, which propose different open classes for adults and kids, some of them organize team buildings and private parties as well.

The price for 1 open course is about 80-90 euro. Some of these studios propose packages of 2-5 lessons.

The main cuisine is Italian, but there are also numerous Japanese classes (Sushi & Ramen). Some studios propose Chinese, Oriental and Thai cuisines.

There are also degustations of wines, beers, olive oils; cocktail master classes; market tours.

The prices are from 35 to 120 euro.

Main competitors

TOP 6 of culinary schools in Milan

La scuola de la cucina Italiana

Capacity: max 60 pax
Activities: open, corporate and private classes
Menu: 1-4 dishes
Average check: 90 euro