Preparation of an Effective Business Plan for a New Business

Abstract

This thesis evaluates how to start a new business and is written for the degree of Bachelor of International Business Management at SeAMK University. It examines the basic requirements for starting a new beauty salon in Finland with a business plan and discusses the key points to consider when starting a business. It includes the basics of planning within a theoretical framework, as well as how to prepare for and cope with business potential. The data for this study was collected through various methods, primarily online sources, literature reviews, and a questionnaire. The questionnaire analyzed the opinions of 53 university students through 16 questions with the Google form, and the focus of the study was to find out whether the current beauty salon system in Finland is friendly to foreigners. In conclusion, the quantitative data collected with the questionnaire were analyzed with descriptive statistics to generate percentages and frequency distributions of the key themes, such as environmental-psychological concerns and customers' quality expectations from the services provided. These basics show that a proper business plan is necessary to attract potential customers and to start a stable, long-term business. Moreover, customer satisfaction is the key to success.