Frequently Asked Questions (FAQ) - Business Designer.
Updated: Jul 19, 2021
Vestaways supports you in creating and launching your business in Phuket. Drawing on your value proposition and your skills, we give you the keys to succeed, while limiting your financial and personal risks. From your marketing plan through to the “Store Concept”, we adapt our recommendations to suit the size and level of your investment, and we ensure we respect the core identity of your project so that you’re ready to call it your own.
We believe that the value we bring is not industry expertise or know-how – you already have plenty of that – but rather an understanding and the ability to decipher the market and the economic ecosystem that is so specific to Phuket. Our objective is to help you find your way, to identify your differentiation and profit levers, and to detect potential opportunities that you would not necessarily have thought of.
What is Business Design and what are the Business Designer services offered by Vestaways?
Business Design is a fairly recent term which came about in the 90s. The term “design” here relates to problem-solving rather than aesthetics. Therefore, business design combines traditional methods and analytical tools with a creative approach, ensuring a client-centred approach throughout the entire process.
As Business Designers, Vestaways supports you in every stage of starting a business in Phuket, including:
- Market and Competition Research: Quickly understanding the market, the players and the environment to adapt your idea and your value proposition.
- Marketing Plan: Formulating and validating hypotheses on your market positioning and strategy.
- Feasibility study: Researching the operational feasibility of the project and measuring the risks.
- Business Concept, Launch Communication: Launching an action plan.
Contrary to common beliefs, Phuket is a complex, heterogeneous, and competitive market filled with numerous traps. To succeed requires careful preparation and a sharp strategy. We offer to assist you and reduce your "time-to-business" from 3 to 6 months, while minimizing your financial and personal risks!
What is a Business Concept?
Essentially, it is the very soul of your future business, its visual identity (branding), its personality (brand image) and its purpose (values & mission). A well-designed brand not only creates an emotional bond with its clients, it also ensures that it stays true to its promise and remains consistent throughout the entire customer experience (service, product quality, marketing, communication, events, etc.).
Phuket can be a tough market to penetrate. It is home to a discerning multicultural community, scattered right across the island’s various localities. It has a thirst for innovation, a fondness for quality and variety, and yet has uncompromising health regulations.
With a Business Concept, you can take on board all of Phuket’s unique characteristics so that you can weigh up the right marketing or business options, thereby boosting your chances of success.
Which business sectors do you specialise in?
We specialise in businesses targeting expats or tourists and high-end establishments. We cover the following business areas:
- Restaurants (catering)
- Boutique hotels and guest houses
- Retail stores (fashion, home decor, etc.)
- Concept stores
If your project is not listed here, that does not mean that we cannot help you. Simply get in touch and we can discuss it.
Can you help me find the perfect location for my business?
Yes of course, that is an essential part of the process. Many people will instinctively go for the island’s well-known areas, such as Patong or Kata, although our research has taught us that they are rarely the most suitable spots for businesses geared towards expats or locals.
Can you set up some marketing strategies to help me grow my business?
We can support you in different types of marketing/communication services such as community management, event creation, management of online distribution platforms (Boutique Line, Facebook, etc.) or the management of digital advertising campaigns.
Can you take care of the interior design and signage of my business?
Yes, of course. This is part of the services that we can offer via our partner network. We also know an array of local artisans who can craft wonderful items upon request to make your space unique and original.
Why should we use Vestaways instead of just doing it ourselves?
Because Vestaways will help you drastically reduce your "Time-to-Business", so you will save both time and money. This is the time it takes and the effort required for you to reach the point where consumers come along and pay for your products or services. This period is obviously critical since it allows you to reach your point of equilibrium more quickly.
What are your qualifications?
We are all experienced entrepreneurs or graduates of the best business schools, and some of us have worked in leading advertising agencies or renowned consulting firms. More importantly, we have set up businesses in Phuket, so we have a proven track record.
Will you agree with everything that I say?
Only if you’re always right :) One of our missions is to help you avoid basic mistakes, to position yourself in the best possible way while maximising your chances of success. Therefore, we will challenge your ideas and assumptions if we believe they don’t coincide, or if they go against the market logic specific to Phuket.
What are the different stages?
Each project is unique. However, there are certain stages that apply to most projects, such as:
- An initial meeting to discuss the main aspects of your project, your budget and your time frame.
- Several more in-depth discussions to grasp the finer details of your project and so that we can take on your ambitions and the identity you want to give to your business.
- Validation of the financial feasibility of your project (by including your income, fixed cost items and projected personal expenses in the overall budget of the project).
- Creation of deliverables
- Beginning of support for the creation of your business.
- Operational handover and monitoring of marketing campaigns (if necessary).
How long does the service last?
For a typical undertaking, including market research, feasibility study, and a comprehensive marketing plan, the average turnaround time is 6 to 12 weeks, depending on the complexity and scope of your project. We will obviously communicate the completion times on a case-by-case basis.
Regarding support for business creation, some very simple projects can be completed in just a few weeks, but other projects can extend over several months since they often need to take into account the time for you to move to Phuket and therefore the time needed for you to settle into the island. In fact, we can also support you and speed up your settling-in process so that you enjoy a stress-free and lasting expatriation. Please contact us for information on newcomer packages (package name: "Phuket New Life Booster").
How much do your services cost?
In general, we charge a fixed fee which will vary depending on:
- The size of the project and its ambition
- The complexity related to the existing competition in your business sector
- The sophistication and specific needs of your target audience
- The clarity of your entrepreneurial vision and your know-how
- Your desired execution times.
In all cases, we will reduce your "Time-to-Business" and save you money in the long term by minimising your risks and capitalising on your profit levers. On average, we will save you between 3 to 6 months.
Do you sign confidentiality and non-disclosure agreements?
Yes, we will sign a mutual non-disclosure and confidentiality agreement in order to protect our respective trade secrets.
Can you send me some examples of your work?
For confidentiality reasons (see previous point) and unless expressly authorised by the main parties concerned, we are unable to send you examples of studies or projects carried out on behalf of our clients. See our philosophy and values here.
Do you cover a particular geographic location in Thailand?
Yes, we specialise in Phuket at the moment. We plan to branch out to Kho Samui and Chiang Mai later, before targeting other areas in Asia (Bali, Sri Lanka, etc.).
The company Vestaways is based in Singapore, so how can you work with your clients in Phuket?
Vestaways has its head office in Singapore for the ease that this country offers in doing business with clients based in Europe, Australia, the Americas or Asia. On the other hand, we have been established in Phuket for 12 years where our sales offices are located.
I need your services but I have a limited budget Can you help me?
This issue is always subjective, but we can work with you as long as your budget is reasonable. We provide a high-end service with high added value for our clients, so our services may not be suitable for the size of your project. Contact us and we will discuss it with you.
Can you help fund our project or raise funds for it?
No, this is not within the scope of our prerogatives, and we are not authorised to put you in touch with banking institutions to secure a loan, either in Thailand or your country of origin. However, where appropriate, we can informally introduce you to potential investors or other intermediaries, bearing in mind that it is your responsibility to surround yourself with legal and/or financial advisers so as not to expose yourself and your business to significant liability.
Can you guarantee my business will be a success?
We can obviously not ensure the success of your business because only you can know the very essence of your business: it is your know-how and your ability that runs your business. However, we commit to do whatever it takes to put you on the right track for success.