What is the business model and financial picture?
On its website, Jungle Boss introduces them as the leading adventure tourism operator in Vietnam. Jungle Boss specializes in organizing the exclusive exploitation of cave and primeval forest exploration programs at World Natural Heritage Phong Nha – Ke Bang National Park and surrounding areas.
Special product
The product is divided into many packages from easy – difficult – very difficult with different participation time and costs, ranging from 800 thousand VND to 35 million VND.
In which, the most prominent are 2 products of level 6 and level 7 of discovery Pygmy’s cavethe world’s largest cavern, and explore Kong Collapse One of the deepest sinkholes on the planet.
This is the product after more than 1 year of surveying, researching and checking safety factors, Jungle Boss has launched the adventure travel product KONG COLLAPSE TOP ADVENTURE – Conquering the peak of Kong sinkhole with swing experience 100m rope, this is the highest adventure tour in Vietnam.
With a height of up to 450m from the highest point to the bottom, Kong has become one of the deepest sinkholes on the planet with an underground river and mysterious primeval forest inside. The reason this sinkhole is named Kong because the shape viewed from above is very similar to the giant head of the monkey character King Kong in the famous blockbuster movie of the same name.
This journey requires visitors to walk: 23 km, explore caves: 7 km, swing: 100 m and swim 300 m.
Jungle Boss has cooperated with cave experts of the British Royal Caving Association, the American National Cave Association, and the rescue experts of Vietnam Rescue Company to carry out the activities. training program to improve cave safety skills, rescue and rescue for the team of guides, safety assistants and service staff.
The most important thing, Jungle Boss has cooperated with domestic and international cave safety experts as well as local competent units to develop a plan to ensure safety and approved by Quang Ninh People’s Committee. Approval jar.
In addition, all the safety equipment of Jungle Boss is imported from manufacturers meeting European standards and detailed information is available on the company’s homepage.
Experience the 100m rope swing and then drop yourself in the middle of the air and surrounded by thousands of forests, majestic and wild caves. (Photo: Jungle Boss).
The inspection, maintenance and equipment maintenance procedures at the technical warehouse and in the field are carried out very strictly by the cave safety team to eliminate all possible risks to safety. of visitors.
Enthusiastic and knowledgeable CEO
The legal entity of Jungle Boss is Jungle Boss Company Limited. This business was established in November 2015, so far it has been operating for more than 6 years.
The initial registered charter capital is 1.9 billion VND. At the time of joining Shark Tank, the company’s charter capital had increased to 12 billion VND, of which Mr. Le Luu Dung accounted for 80%, equivalent to 9.6 billion VND. In addition to Mr. Dung, there is another capital contributor, holding 20% of the shares, equivalent to 2.4 billion VND.
The director and chairman of the Board of Directors of the company is Le Luu Dung, born in 1985. Luu Dung is also the direct operator of Jungle Boss and has a great passion for caving. In his sharing at the Shark Tank program, Le Luu Dung told the Sharks: “When I do adventure travel, I do it with my passion.”
On the page of Jungle Boss, there is talk about the enthusiasm of the Jungle Boss team from discovering the Kong sinkhole to establishing a safety system to launch tourism products.
“Accidentally discovering the Kong Collapse sinkhole after more than 22 years hidden deep in the mountains of Phong Nha – Ke Bang, Jungle Boss’s cave discovery team has been constantly working day and night to research, survey and find understand extremely meticulously about this giant sinkhole more than 450m deep. With the help of American cave experts, Jungle Boss has took almost 2 years to explore the super mysterious sinkhole Kong and establish an absolute safety system to create the number 1 adventure tourism product in Vietnam..”
Mr. Le Luu Dung – CEO of Jungle Boss
According to Mr. Dung shared in the program, he was originally a nature conservationist, working as a conservationist for a German nature project. Therefore, many times in the program, this CEO affirmed that ecotourism exploitation always goes along with environmental protection.
Customers participating in the tours are always required to comply with regulations on protection of heritage and natural resources, respecting local customs and traditions.
In addition to the “strange” business model, perhaps it was the understanding, enthusiasm and diligence of the CEO of Jungle Boss that “conquered” 3/5 Shark in the first episode of season 5 Shark Tank.
What is the driving force for Jungle Boss to grow when the business model enters the “niche”
Showing interest in this model, what the Sharks focused on the CEO was about the revenue growth potential of the business model.
According to the answer of CEO Le Luu Dung when asked by Shark Hung and Shark Phu, there are basically the following drivers for the growth of Jungle Boss’s revenue in the coming time:
The firstCurrently, business activities have not reached 30% of capacity. According to Mr. Dung, in the near future, although the number of visitors will not be more than in previous years, there will be new products and increased prices, so revenue will grow.
In fact, Jungle Boss’s highest-value tour is Conquering the Peak Adventure of Kong Sinkhole (priced at 35 million VND) which has just been put into operation from the end of 2021. Moreover, the first time is aimed at stimulate demand when not many tourists know, the enterprise price applied until the end of May 31, 2022 is 18.4 million VND.
Monday, the upcoming products intended to increase sales are paragliding and high-end camping. Mr. Dung said that the high-end camping service Jungle Boss intends to make will be more luxurious than current business models.
Tuesday, oriented to replicate to other localities. Currently, Jungle Boss is doing well in Quang Binh and the CEO born in 1985 shared that they want to replicate this model to other localities.
Expected sales of the business this year will be more than 20 billion, in the next 60 billion, in other years to 100 billion.
Regarding the financial situation of the business, according to CEO Dung, the enterprise currently has about 7 billion in bank debt, 25 billion in equity (of which 12 billion in charter capital), equivalent to total assets of about 32 billion.
After the presentation and answering his questions, Jungle Boss received the favorites of 3 Sharks, Shark Hung, Shark Binh and Shark Hung Anh. The result of the dramatic “up to the pillow” competition for gifts of Shark Hung and Shark Hung Anh was the nod of Jungle Boss CEO with an investment proposal of VND 12 billion for 25% of Shark Hung’s shares.
Thereby creating the first successful deal on Shark Tank Vietnam season 5.
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