Business plan on food vending in Finland
Nguyen, Linh; Kamuya, Mwangala (2017)
Nguyen, Linh
Kamuya, Mwangala
Laurea-ammattikorkeakoulu
2017
Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201803143352
https://urn.fi/URN:NBN:fi:amk-201803143352
Tiivistelmä
Food vending machine has been developed for a long time, especially in Asia. Some European nations have adopted this concept, however, it is still new to the Finnish market. The authors want to bring this concept to Finland and launch a business for this business model. The aim of the thesis was to explore the feasibility of the food vending machine industry in Finland and to create a business plan which benefits the business of the authors in future.
The theoretical framework of the thesis focuses on reviewing literature about the history of vending machine industry, the business plan including all key aspects of the subject such as target customers, marketing, and operational plan, and the theory of marketing. These theories act as binding for the whole thesis.
In the thesis, qualitative and quantitative research methods are fully utilized. Regarding quantitative methods, survey was chosen to discover the feasibility of the business idea of selling hot food through vending machines in Finland, to identify target customers, and other elements. In respect to qualitative methods, an interview was conducted by the authors with the Managing Director of Selecta Finland in order to gain understandings of Finnish vending industry, to learn from their knowledge and experiences, and to ask for advice. The authors carried out benchmarking method to analyse their potential competitors through comparison. Benchmarking allows the authors to identify the best practices which contribute to their competitors’ success. The results of research strengthen the authors’ confidence and belief in the business concept which they want to implement in their future business. Additionally, the key components of was analysed and ready to benefit their business plan. However, since the business plan is used for future business, it is important to keep the business plan updated. Moreover, additional research can still be executed to gain more deep insight of Finnish market, customer understandings, and marketing, which means that there is still room to develop the business plan.
The theoretical framework of the thesis focuses on reviewing literature about the history of vending machine industry, the business plan including all key aspects of the subject such as target customers, marketing, and operational plan, and the theory of marketing. These theories act as binding for the whole thesis.
In the thesis, qualitative and quantitative research methods are fully utilized. Regarding quantitative methods, survey was chosen to discover the feasibility of the business idea of selling hot food through vending machines in Finland, to identify target customers, and other elements. In respect to qualitative methods, an interview was conducted by the authors with the Managing Director of Selecta Finland in order to gain understandings of Finnish vending industry, to learn from their knowledge and experiences, and to ask for advice. The authors carried out benchmarking method to analyse their potential competitors through comparison. Benchmarking allows the authors to identify the best practices which contribute to their competitors’ success. The results of research strengthen the authors’ confidence and belief in the business concept which they want to implement in their future business. Additionally, the key components of was analysed and ready to benefit their business plan. However, since the business plan is used for future business, it is important to keep the business plan updated. Moreover, additional research can still be executed to gain more deep insight of Finnish market, customer understandings, and marketing, which means that there is still room to develop the business plan.