Business plan for a Belgian themed bar
Vanhecke, Robbe (2023)
Vanhecke, Robbe
2023
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023060521571
https://urn.fi/URN:NBN:fi:amk-2023060521571
Tiivistelmä
This thesis aims to examine the viability of a Belgian-themed bar concept in Helsinki during its first year of operation. The author, who currently works in the industry and plans to open a business with two partners, with the potential of opening a new venue by the end of 2023 or beginning of 2024.
To conduct the study, the author used his experience and knowledge of the industry. The author had access to revenue numbers, costs of goods sold and other expenses through his position in one of the largest bar/nightclub in Helsinki. This bar attracts between 450 to 2000 people per night depending on the day. The research was further improved with qualitative research in subjects such as the serving laws and labor costs.
Despite the high potential for reward, starting a bar comes with significant risk, particularly in uncertain economic times with high inflation rates and an industry still recovering from COVID-19 restrictions. Which were still heavily present during the time of writing.
The investment cost is considerable with labor costs being a big factor in the profitability of any company. The service industry is labor intensive which is why this is one of the biggest costs. With inflation waying in on you cost of goods sold and more.
This thesis offers some insights in the potential of starting a new Belgian-themed bar concept in Helsinki. The research indicates that there is good potential. However, current economic situations suggest that the risk is very high.
To conduct the study, the author used his experience and knowledge of the industry. The author had access to revenue numbers, costs of goods sold and other expenses through his position in one of the largest bar/nightclub in Helsinki. This bar attracts between 450 to 2000 people per night depending on the day. The research was further improved with qualitative research in subjects such as the serving laws and labor costs.
Despite the high potential for reward, starting a bar comes with significant risk, particularly in uncertain economic times with high inflation rates and an industry still recovering from COVID-19 restrictions. Which were still heavily present during the time of writing.
The investment cost is considerable with labor costs being a big factor in the profitability of any company. The service industry is labor intensive which is why this is one of the biggest costs. With inflation waying in on you cost of goods sold and more.
This thesis offers some insights in the potential of starting a new Belgian-themed bar concept in Helsinki. The research indicates that there is good potential. However, current economic situations suggest that the risk is very high.