The development of a business plan for Nood

Abstract

This thesis examines theory and practice in the creation of a business plan for Nood, an Asian noodle bar operating in Espoo, Finland. The study provides a constructive business proposal for the company and the final goal is to examine the validity and feasibility of the implementation plan.

The thesis report begins with a discussion of the current situation in the food industry, exploiting secondary data collected mostly from Finnish authoritative sources. A brief introduction of the case company Nood is subsequently presented.

In the theoretical chapter information is given about the business plan and its essential components, including the Business, marketing, financial, and analytical tools which have been implemented (SWOT and Business Model Canvas). In addition, the research knowledge base includes different approaches and methods of research, which have been specifically applied to the study. The reliability and ethical issues of research are also discussed.

Finally, the conceptualization framework is generated, in which details of the research findings for the proposed business plan are presented, as well as the final proposal is. Further secondary data was collected, and simultaneously, primary data obtained when the author conducted qualitative research with the help of personal communication through interview and observation.

The marketing campaign is constructed accordingly to the origin of restaurant business, considering the following factors: proposed location, budget, and the market research and trends. Together with the 3-year periodic income statement forecast and the break-even analysis, the results indicate a viable implementation. The main focuses for a strategic plan will be on differentiation, promotion, and proactive customer service.