Navigating Finland’s Restaurant Industry: Insights into Market Entry and Operational Obstacles
Toor, Hafiz Hunzala (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024110727626
https://urn.fi/URN:NBN:fi:amk-2024110727626
Tiivistelmä
The establishment of a restaurant in Finland requires a thorough planning process that aligns with the business objectives of the constantly shifting market, customer preferences, and operational challenges. Numerous factors, such as changing consumer behaviour, particularly in the wake of COVID-19, concerns about sustainability, and unstable economic conditions, have an impact on Finland's restaurant industry. These factors provide opportunities as well as challenges. Market analysis, financial management, operational effectiveness, and customer interaction are crucial components of strategic planning that are required to meet the specific needs of Fin-land's wide range of restaurant customers. The aim of the thesis is to identify the main operational challenges of opening a restaurant in Finland and analyse the present difficulties faced by both new and experienced restaurant operators.
There are two main goals that the thesis tries to achieve. The first is to examine the stages and factors that are crucial to consider while opening a restaurant in Finland. The second goal is to look at the present issues that restaurant owners in Finland are facing, specifically focusing on those restaurant owners who come from outside of Finland and identifying the unique obstacles they confront in the business.
The thesis starts with a theoretical part including the definition of a restaurant, background and types of restaurants. It will also elaborate how to open a restaurant in Finland and use of business model canvas (BMC) in restaurant industry. Then is the second part qualitative research method was used to construct interviews with restaurant owners specially who have foreign background. This strategy was intended to collect comprehensive information about the unique obstacles and problems they encounter in the Finnish restaurant sector. The purpose of the study is to learn more about the challenges faced by international restaurant owners through these interviews, including overcoming legal barriers, cultural obstacles, labour shortages, financial constraints and hiring labour from abroad.
A thorough market analysis was carried out with an emphasis on regions like Lappeenranta, Kouvola, and Lahti to try to find potential customers and understand their needs. The process included 13 targeted interviews done in October 2024 to acquire relevant data. Restaurants in Finland must accommodate a wide range of preferences, from regional flavors to global cosines and health-conscious dining trends. In Finland, financial planning is necessary due to high costs of labor, rent, and taxes. Because profit margins are getting narrow so careful preparation of menu pricing and cost-control strategies are necessary.
The industry has different challenges in the form of labour shortages, complex regulations, and growing operational expenses. To survive in the current competitive climate, restaurants in Fin-land will need to implement strategic planning that tackles these problems while remaining in line with consumer preferences.
There are two main goals that the thesis tries to achieve. The first is to examine the stages and factors that are crucial to consider while opening a restaurant in Finland. The second goal is to look at the present issues that restaurant owners in Finland are facing, specifically focusing on those restaurant owners who come from outside of Finland and identifying the unique obstacles they confront in the business.
The thesis starts with a theoretical part including the definition of a restaurant, background and types of restaurants. It will also elaborate how to open a restaurant in Finland and use of business model canvas (BMC) in restaurant industry. Then is the second part qualitative research method was used to construct interviews with restaurant owners specially who have foreign background. This strategy was intended to collect comprehensive information about the unique obstacles and problems they encounter in the Finnish restaurant sector. The purpose of the study is to learn more about the challenges faced by international restaurant owners through these interviews, including overcoming legal barriers, cultural obstacles, labour shortages, financial constraints and hiring labour from abroad.
A thorough market analysis was carried out with an emphasis on regions like Lappeenranta, Kouvola, and Lahti to try to find potential customers and understand their needs. The process included 13 targeted interviews done in October 2024 to acquire relevant data. Restaurants in Finland must accommodate a wide range of preferences, from regional flavors to global cosines and health-conscious dining trends. In Finland, financial planning is necessary due to high costs of labor, rent, and taxes. Because profit margins are getting narrow so careful preparation of menu pricing and cost-control strategies are necessary.
The industry has different challenges in the form of labour shortages, complex regulations, and growing operational expenses. To survive in the current competitive climate, restaurants in Fin-land will need to implement strategic planning that tackles these problems while remaining in line with consumer preferences.