Business Plan of a Wellness Startup

Abstract

The aim of this thesis was to develop a comprehensive business plan for a wellness startup using the Business Model Canvas as a tool for business planning. The thesis employed practice-based research methods to gather information for the theoretical framework, which was constructed based on a review of relevant literature and previous studies. The Business Model Canvas was chosen for its simplicity, customer-centric approach and practical learning value. The practical part involved using the Business Model Canvas template to create a business plan for the wellness company, focusing on the customer-driven perspective of the canvas, including value proposition, customer segments, channels, customer relationships, and revenue streams. The customer-driven approach allows businesses to align their business model with the needs and preferences of their target customers. However, it is important to consider other components of the Business Model Canvas for a holistic business strategy. Practice-based research has limitations, such as context specificity, potential biases, and limited scope, but it should contain critical analysis and scholarly requirements. The thesis acknowledged the strengths and limitations of the Business Model Canvas and aimed to provide insights on its effective utilisation in the context of a wellness startup. The practical applications of the research findings were highlighted, as the business plan developed as part of the thesis can serve as a valuable tool for launching and growing a successful startup, benefiting not only the thesis author but also other entrepreneurs. Overall, the thesis aimed to contribute to the field of business planning and entrepreneurship through a practice-based research approach and a focus on the customer-driven perspective of the Business Model Canvas.