Business plan for Korean Bistro in Helsinki

Abstract

The aim of this thesis is to develop a realistic business plan for starting a Korean Bistro that would be located particularly in the prime and well-traffic customer areas in Helsinki. Unlike many other Asian cuisine restaurants that are already well established in Helsinki, currently, there are only a few existing Korean restaurants in the city -- which gives a vast opportunity to become as well known and go-to by the public. Moreover, for this new Korean bistro, the plan is to showcase authentic Korean flavours as well adding value to dining experiences and services with its full-service functionality. To make this work, identifying existing current Korean restaurants are essential to the business plan because the challenge of being special and offering something more is obvious. Therefore, it was only reasonable that the author used a benchmarking approach, customer segmentation, and SWOT Analysis in this research. Moreover, the qualitative method was preferred in this re- search to be able to collect viable data exquisitely from a close group of people. The author con- ducted individual in-depth interviews with more than five individuals with open-ended questions to acquire knowledge on customer values and analyse how well the business concept could adapt to the market as well as build customer profiles. The contents of this research are from the available academic sources, practical knowledge, and common information from official websites and pages. The thesis is product based since the author’s goal is to use this thesis and research to be- come a final product: a business plan for a business opportunity.