Business Plan for a K-Beauty Shop Establishment in Finland
Tran, Van (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024111528328
https://urn.fi/URN:NBN:fi:amk-2024111528328
Tiivistelmä
This bachelor´s thesis discusses a business plan for establishing a K-Beauty shop in Helsinki, Finland. The goal is to assess the feasibility of opening a physical store selling Korean products in Finland and to find out the necessary components of the business plan for this venture.
The thesis consists of an introduction, theoretical framework, empirical part, and discussion. The introduction starts with background to the topic and continues with project objectives, sustainability, and key concepts. The theory section discusses an overview of what a business plan is, what should be considered when creating it, how market analysis and financial planning are essential in a business plan, how SWOT and competitor analyses are used to analyze the market, and what financial analyses should be included in the financial planning process. The empirical section begins with an explanation of how the thesis was planned and implemented, followed by analyses of the market and financials for the business. The final outcome was a complete business plan for this project. The discussion part includes the thesis’s key findings, recommendations and ends with the author’s reflection on learning.
Through the findings and analyses, it is feasible to establish the business idea in real life. The project to open a K-beauty store in Helsinki shows great potential, especially when combining a reasonable price strategy with environmentally friendly products that keep up with the current consumer trends. Despite strong competition, the market is not yet saturated, which creates opportunities for new brands to enter. The financial analysis shows that the plan is feasible, although it may face difficulties in the first year, the ability to make a profit and make up for losses in the following year is completely possible. The research methods used in this thesis have been selected appropriately and effectively, contributing significantly to the success of the thesis. These findings can be useful for other startups and businesses planning to enter the Finnish market with international products. The thesis can be a valuable reference for startups when creating a business plan to secure funding.
The thesis consists of an introduction, theoretical framework, empirical part, and discussion. The introduction starts with background to the topic and continues with project objectives, sustainability, and key concepts. The theory section discusses an overview of what a business plan is, what should be considered when creating it, how market analysis and financial planning are essential in a business plan, how SWOT and competitor analyses are used to analyze the market, and what financial analyses should be included in the financial planning process. The empirical section begins with an explanation of how the thesis was planned and implemented, followed by analyses of the market and financials for the business. The final outcome was a complete business plan for this project. The discussion part includes the thesis’s key findings, recommendations and ends with the author’s reflection on learning.
Through the findings and analyses, it is feasible to establish the business idea in real life. The project to open a K-beauty store in Helsinki shows great potential, especially when combining a reasonable price strategy with environmentally friendly products that keep up with the current consumer trends. Despite strong competition, the market is not yet saturated, which creates opportunities for new brands to enter. The financial analysis shows that the plan is feasible, although it may face difficulties in the first year, the ability to make a profit and make up for losses in the following year is completely possible. The research methods used in this thesis have been selected appropriately and effectively, contributing significantly to the success of the thesis. These findings can be useful for other startups and businesses planning to enter the Finnish market with international products. The thesis can be a valuable reference for startups when creating a business plan to secure funding.