Abstracts Category : Other

Building a Business : A Business Plan and Strategy for Jenkys Caf

by Jennifer Friman

This thesis was written to develop a business plan for Jenky's Caf to transition from a part-time operation to a full-time, brick and mortar caf. It aimed to determine what business structure best suited the business, what the business plan should include, what marketing strategies are best and whether the plan is viable. The primary method used was action-based research with a mixed-method questionnaire also used. Action-based research is a method of learning via implementation, this was done by creating the business plan, evaluating and then revising based on said evaluation. The changes were evaluated in the conclusion. The mixed-method survey was used to gather customer data, which informed the content of the business plan. The survey gathered information on consumer demographics, their views on other cafs, product interest and communication styles.The theoretical review consisted of a comparative overview of business structures in Finland, elements of business plans, marketing strategies and market research. Which were used to create the business plan. The business plan structure which best suited Jenkys Caf included: Executive Summary, Objectives, Start-Up Summary, Products/Services, Market Analysis, Competitor Analysis, Marking Strategy, Sales Forecasts, Financial Plan and Risk Analysis. These were based on the theoretical review and the business plan of a successful caf. It was concluded that the business would remain under sole ownership, but would shift to a sole tradership, allowing the caf to hire staff. The thesis also concluded that the best marketing strategy was a client-centered strategy focused on the 4 Cs: Customer Solutions, Cost, Convenience, and Communication. Finally, the thesis determined that the business plan is viable, with the financial projections showing 4-6% growth over a 3-year period and sales/customer growth of 5-7%Over the course of the process, and in keeping with the action-based research, the business plan underwent several shifts and changes. These were mainly to simplify the finished plan and reduce redundancy.