Business plan of Photography agency for Vietnamese tourists in Thailand/ Thi Linh Phuong Vo
The business model of Siam Studio Co., Ltd is to provide photography package conducted by Thai photographers for Vietnamese travelers who are seeking photography package in Thailand for their pre-wedding or their vacation. The value proposition of Siam Studio to customers is to provide hassle-free service to Vietnamese customer to save money in hiring a photographer from Vietnam or to save the time of scheduling with a local photographer in Thailand. The core activities of Siam Studio are procurement skilled photographers to meet demand and to provide fast operation from booking, schedule and timely support to enhance customer responsiveness. The revenue stream of Siam Studio is to charge a service fee of 20% from the packages purchased from the local photographers. Findings from the study that Vietnamese is the potential market with the young and large population, the growing middle class with rising income and people tend to get married at a young age. At the same time, Thailand is proven to have plenty of resources and capability to meet the demand for Vietnamese customers in term of photo spots, photographers and comparable price. The highlight of this business plan to point out the current problems in procuring freelancers and adapting the real-time ticket system technology to reducing the constraints and processing time of scheduling. This allows Siam Studios to expand its services capacity and fast service efficiently and therefore creating the competitive edge for Siam Studio over its competitors.