Cutting it in Seafood

August 05, 2015 | 10:26

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Running a seafood restaurant offers the chance of great success, but it remains risky. Huy Hao reports on how Seafood World is forging ahead in this competitive market.

Investment and research

Money is the key to success in many businesses, but it seems to be less important to running a seafood restaurant. " In the seafood market, building good distribution channels is much more essential," shares the owner of Seafood World, adding: " Vietnamese customers choose places to eat for their familiarity, so it's hard for newcomers to break into the market. Before making any bold decisions, companies should carefully research customers' behaviour and their eating habits."

The business model

After doing market research, designing a creative business model is the key to competing. Seafood World restaurant is a good example as it combines a restaurant and a market. Customers can choose from over 100 kinds of live seafood kept in tanks and then order the restaurant to cook it.

Opened two years ago, Seafood World now has two Hanoi branches - one at 18 Duong Dinh Nghe and another at 75A Tran Hung Dao. Each restaurant provides over 90 tables and can serve up to 400 customers at a time. They also have VIP rooms for business and family meals.

Wise marketing

In terms of marketing, Seafood World has done a good job. The restaurant provides continuous promotions to attract customers, such as a 35 per cent discount on Nha Trang lobster, which is now VND2.5 million ($115) per kilogramme. The programme has not only attracted a vast number of hungry diners, but also helped increase the income for Nha Trang fishermen. More information about promotions can be found on the restaurant's website and fan page.