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Ho Chi Minh City
Sunday, February 25, 2024

Not a cash cow

By Nguyen Quang Binh

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With the soaring demand for coffee consumption and favorable business conditions, many young entrepreneurs have been drawn to the idea of establishing their own cafés or coffee chains. However, venturing into this field is far from being a guaranteed “cash cow” for everyone. A rising trend Nhu, once a credit officer at a bank in HCMC, took the bold step of investing her substantial savings in a newly-opened café in Binh Thanh District. Tuan, a former computer hardware engineer, also decided to enter the coffee business amidst the sluggish real estate market. Meanwhile, a cameraman from a local television station sought to earn extra income by running a coffee shop with his wife in Go Vap District. The list of young professionals transitioning from diverse occupations to embark on coffee-related ventures is getting longer. A study on the food and beverage market conducted by the iPOS software company found that Vietnam had 338,600 new restaurants and cafés in the 2016-2022 period, with an average annual growth rate of 2%. Compared to the pre-pandemic years, the country saw an additional 18,000 new restaurants and cafés emerge (*). As more individuals gravitate towards flexible work schedules and aspire to achieve a better […]
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