Business Plan to Startup an Online Handmade Candle Shop
Trinh, Hoang Dung (2022)
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022120827364
https://urn.fi/URN:NBN:fi:amk-2022120827364
Tiivistelmä
The objective of the study was to help the development of a plan for the operation of an online candle store in Finland and to identify potential challenges and obstacles that the online candle store might face while attempting to join the Finnish market. A further objective was to suggest the most effective strategy for overcoming those obstacles.
Data from reputable newspapers and government websites was gathered to draw a clear picture of the business plan and those elements that influence a business. As a result, the foundation for the business plan's creation was established, and it now includes the elements of PESTEL analysis, business model canvas, SWOT analysis, business idea, and marketing strategies.
Quantitative methodology was used in conducting a survey among the people living in Finland to map the customer behaviours of the case company. The survey received 109 responses, which were then to collect and analyse. The survey results showed potentialities and barriers when the case company entered the Finnish market, as well as indicated strategies to overcome barriers. The three potentialities are matching the habit of using candles, matching demands, and matching the taste of customers. On the other hand, a tiny number of customers prefer purchasing candle online and strong competitors are the two barriers of the case company. Furthermore, there are five strategies to overcome these barriers: focusing on the creation of products, reasonably pricing the item, providing all relevant information of products, encouraging customers to give feedback, and offering customers discount.
Data from reputable newspapers and government websites was gathered to draw a clear picture of the business plan and those elements that influence a business. As a result, the foundation for the business plan's creation was established, and it now includes the elements of PESTEL analysis, business model canvas, SWOT analysis, business idea, and marketing strategies.
Quantitative methodology was used in conducting a survey among the people living in Finland to map the customer behaviours of the case company. The survey received 109 responses, which were then to collect and analyse. The survey results showed potentialities and barriers when the case company entered the Finnish market, as well as indicated strategies to overcome barriers. The three potentialities are matching the habit of using candles, matching demands, and matching the taste of customers. On the other hand, a tiny number of customers prefer purchasing candle online and strong competitors are the two barriers of the case company. Furthermore, there are five strategies to overcome these barriers: focusing on the creation of products, reasonably pricing the item, providing all relevant information of products, encouraging customers to give feedback, and offering customers discount.