The Use of Market Feasibility Studies in the Restaurant Industry for Small and Medium-sized Restaurants
Kolster, Maria (2017)
Lataukset:
Kolster, Maria
Haaga-Helia ammattikorkeakoulu
2017
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201705168428
https://urn.fi/URN:NBN:fi:amk-201705168428
Tiivistelmä
The goals of this thesis are to provide the reader with new information about market feasibility studies in the restaurant industry and to design a market feasibility template for the international restaurant industry which can be used for small and medium-sized restaurants before entering the market. The objectives are to define the ideal factors of a market feasibility study for the international restaurant industry, to learn and become an expert in feasibility studies for the restaurant industry and to develop an entrepreneurial mindset.
The scope of the thesis is first focussed on the general restaurant industry worldwide but afterwards narrowed down to Helsinki, metropolitan area small and medium-sized independent restaurants.
The implementation is done by desk research on the restaurant industry in general and in Helsinki and market feasibility study development in the restaurant industry. Additionally, interviews with restaurant managers are used as a method to clarify and go in debt on those findings. The thesis process has started in December with defining the topic and field of interest and is finished in the beginning of May.
The key issue of this thesis is feasibility study development in the restaurant industry for small and medium sized restaurant. Starting with a research on the different segments of the restaurant industry, future trends and failure causes of restaurants. Research on the use of market feasibility development in the restaurant industry is done by defining the structure of a market feasibility study and the, in the authors point of view, most profitable factors of a market feasibility study for small and medium sized restaurants. This resulted in a tool for small and medium-sized restaurants. This tool is a product type thesis in form of a market feasibility template for small and medium sized restaurants.
The conclusion of this thesis is that in real life, small and medium sized restaurants do not have the knowledge and capital to conduct a full market feasibility study. However, conducting this study is of high importance because doing research on the size of the market in the area where the restaurant will be located and taking into account the competition, will help to start up a restaurant. Conducting a market feasibility study before opening a restaurant helps an entrepreneur to make justified decisions on the restaurants chance of success.
The scope of the thesis is first focussed on the general restaurant industry worldwide but afterwards narrowed down to Helsinki, metropolitan area small and medium-sized independent restaurants.
The implementation is done by desk research on the restaurant industry in general and in Helsinki and market feasibility study development in the restaurant industry. Additionally, interviews with restaurant managers are used as a method to clarify and go in debt on those findings. The thesis process has started in December with defining the topic and field of interest and is finished in the beginning of May.
The key issue of this thesis is feasibility study development in the restaurant industry for small and medium sized restaurant. Starting with a research on the different segments of the restaurant industry, future trends and failure causes of restaurants. Research on the use of market feasibility development in the restaurant industry is done by defining the structure of a market feasibility study and the, in the authors point of view, most profitable factors of a market feasibility study for small and medium sized restaurants. This resulted in a tool for small and medium-sized restaurants. This tool is a product type thesis in form of a market feasibility template for small and medium sized restaurants.
The conclusion of this thesis is that in real life, small and medium sized restaurants do not have the knowledge and capital to conduct a full market feasibility study. However, conducting this study is of high importance because doing research on the size of the market in the area where the restaurant will be located and taking into account the competition, will help to start up a restaurant. Conducting a market feasibility study before opening a restaurant helps an entrepreneur to make justified decisions on the restaurants chance of success.