Business Plan for a Guest House in Southern Estonia

Abstract

The thesis in question was composed to help the author of the thesis realize the importance of a business plan and also to understand how to craft one. Therefore the thesis in hand is a learning process that handles the key parts of a business plan according to various sources. It´s purpose was to create an overview of what is essential in a proper business plan and consequently to create own model of a business plan. Hence the outcome of the thesis is an example business plan that has been developed according to the findings of the theoretical framework.

The first part of the thesis, theoretical framework, contains introduction, literature review, methodology and conclusion. The literature review covers subjects as the importance of a business plan and different parts of a business plan, which are explained and focused on separately. The methodology part explaines to the reader how the author crafted the business plan for a guest house in Southern Estonia. The second part of the thesis is the business plan itself.

The product, the business plan, is about guest house in Southern Estonia as the author is planning to move back to Estonia and open up a business there in 5-6 years. The business idea is just one of the ideas the author and her partner have and was used as an example for creating the business plan. Therefore the business plan in hand is not meant to be ready for use, it is rather a practising tool.

The objectives of the thesis were achieved as the goal was to understand the importance of a business plan and learn how to craft one by researching existing literature and developing own model of a business plan.