Starting a company in the service sector with a limited budget: case study of a catering business
Marroni-Teir, Erik (2022)
Marroni-Teir, Erik
2022
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022090819981
https://urn.fi/URN:NBN:fi:amk-2022090819981
Tiivistelmä
There is a significantly growing number of newly opened businesses (startups) during the 2000s, in Finland, however, up to half of all the new startups fail already during the first year. This is because of the many risks entrepreneurs face when starting up a company, and a key factor is economical planning. This thesis explains the possibility of starting up a successful business in the service sector with a limited budget of around ≈ EUR 3 000 and how this can be done by strategically and carefully allocating the funds. The thesis utilizes a real-life case company of a catering-business, by analyzing the first year (1) financial statements to demonstrate how assets were managed and allocated despite a tight budget. The company on which the case-study research has been based is Hot Dog Bröderna, a catering business in the service sector. The respondent has chosen a deductive research approach and qualitative research with secondary data analysis has been used in this thesis research, and content analysis has been used as the research method for the data analysis. This thesis is presented in a logical order to the reader for it to be easy to follow, the reader must understand the fundamentals of starting a business and how the process works for a business in the service sector, this can be found in the introduction and theoretical framework. The reader is then later presented with the results of the case study which gives an overview and understanding and also answers the subquestions, how do you allocate the resources efficiently? Benefits and challenges with a limited budget? What information is required when starting a business? And finally, how to successfully manage a company in the service sector with a limited budget. The result and conclusion successfully illustrate to the reader the possibility start a successful business in the service sector with a limited budget of around ≈ EUR 3 000, by strategically and carefully allocating the resources.