BUSINESS PLAN FOR GURU RESTAURANT IN HYVINKÄÄ, FINLAND

Planning, finance and management

Bachelor’s thesis
Valkeakoski
International Business Administration
Autumn Semester 2021
SHAHID H. KHAN

1
International Business Administration Abstract

Author SHAHID H. KHAN Year 2021

Subject Business Plan for Guru Restaurant in Hyvinkää, Finland
Planning, Finance and Management
Supervisors Dr.Sajal Kabiraj

The main objective of this thesis is to have an understanding of a restaurant business plan. A
business plan is the backbone of any business. The fundamentals of business planning are
outlined in the theoretical framework. The thesis describes the traditional Indian food culture
in the southern Finland region. The study’s theoretical objective is to outline the models of
business plan, finance and to create a general understanding of the restaurant business.
This study is a qualitative case study by first analyzing existing businesses in the city who are
future competitors and finding best practice guides for making a good business. The
interviews were conducted to provide an inside view of the existing process to conduct the
existing market research, a survey of 12 questions was prepared.

In addition, the purpose was also to find out about the potential customers, and how can the
business be sustained for a long time and have the opportunity to expand. The theoretical
background of this thesis is based on a literature review and a feasibility analysis, Porter’s 5
factors analysis, and SWOT analysis were carried out. Qualitative and quantitively research
methods were also conducted to find out the customer’s real purchasing behavior and
interest in a traditional Indian restaurant. Moreover, the purpose of this thesis is to help to
create a successful business in Hyvinkää city.
In conclusion, the primary information and data collected specify that the business plan is
valuable enough to attract potential customers and justify appropriate marketing strategies.
The outcome of the survey done in Hyvinkää city center gave very real information about
people's interest in a traditional restaurant and the result of this study shows how the
restaurant came to provide its service in this city.
Keywords Business plan, mission, aim, objective, strategy, established, analysis, Hyvinkää,
entrepreneur, Stakeholder, Finance, Marketing
Pages 41 pp + appendices 07 pp.

2
Contents
1. INTRODUCTION TO BUSINESS PLAN ...........................................................................4
1.1 AIM OF THE THESIS.......................................................................................................... 4
2. RESEARCH METHODOLOGY .......................................................................................5
3. BUSINESS PLANNING .................................................................................................7
3.1 BUSINESS IDEAS.............................................................................................................. 7
3.2 BUSINESS PLAN............................................................................................................... 7
4. RESTAURANT BUSINESS PLAN....................................................................................7
4.1 EXECUTIVE SUMMARY ..................................................................................................... 8
4.2 COMPANY SUMMARY...................................................................................................... 8
4.3 COMPANY FINANCE ........................................................................................................ 8
4.4 PRODUCT AND SERVICES .................................................................................................. 9
4.5 FEASIBILITY ANALYSIS .................................................................................................... 10
4.6. MANAGER AND PERSONNEL ........................................................................................... 11
5. COMPANY LAW ................................................................................................................ 12
5.1 COMPETITIVE ANALYSIS AND MARKETING PLAN ................................................................ 14
5.2 SWOT AND PORTER’S 5 FACTORS ANALYSIS..................................................................... 16
6. THE CITY OF HYVINKÄÄ...................................................................................................... 19
6.1. BUSINESS PLAN FOR AN INDIAN RESTAURANT GURU IN HYVINKÄÄ ........................................ 20
6.2. FOOD GURU’S LAW AND COMPETITION ............................................................................ 22
6.3. COMPANY SUMMARY AND FINANCE ................................................................................ 23
6.4. FINANCIAL ANALYSIS AND STAKEHOLDERS ......................................................................... 33
6.5. GURU’S MARKETING PLAN AND SWOT ANALYSIS.............................................................. 38
7. CONCLUSIONS .................................................................................................................. 41
REFERENCES............................................................................................................................. 42

Appendices
Appendix 1:
LIST OF FIGURES
Figure 1. Structure of Michael E. Porter’s 5 Forces Analysis 17
Figure 2.: Map of Hyvinkää (2021) 20
Figure 3. Start-up expenses 27
Figure 4. Meal production cost analysis. 31
Figure 5. Guru’s Organizational structure 33
Figure 6. Internal and External stakeholders 38
Figure 7. Stakeholder map of a Guru restaurant 39
Figure 8. Porter’s 5 forces analysis sheet for Guru 41

3
1. Introduction to Business Plan

A business plan describes the operations of a company, including all of its

components, functions, and processes, which result in costs for itself and
value for the customer (Watson, 2005).
Continuous production and distribution of business services to earn profits
under competition and uncertain market conditions are called business.
(Kalyan, 2011)

A business plan is a machine for making money, but money is important not
only to produce but also to be appropriate. A business plan is a model and
this model will visualize the company as a place of destinations and
consequences, it is a group of resources and activities in the varying degrees
of detail and operational view, which final result and serve to offer value to
the customer (Slávik, 2011).
1.1 Aim of the thesis

The thesis aims to carry Guru Restaurant on the correct path towards its
goals and objectives, at the same time another aim is to build, grow and
expand as a healthy company. Business will always be aware of difficulties,
problems and risks with the help. This thesis will be about a few numbers of
solutions and ways to operate business with a success. The company also
going to do feasibility analysis for this business plan and the main
stakeholders for the business, which will help to find the very real problems
and solutions to it.

Finally, this thesis will help to create a successful business in the city of
Hyvinkää. There is no Indian restaurant in Hyvinkää city where people eat
their dinner or lunch. There is only one Nepalese restaurant with a small
capacity for traditional food service. So, customer service, food quality, and
satisfied traditional services are only a hypothesis that the author invented to
make a solution regarding this thesis. Traditional Guru restaurant will provide
all the needs according to the people demand in this city.

4
2. Research Methodology

Research Methodology is a technique and it’s about how a researcher

designs a project in a structured way to ensure valid and reliable findings that
address the study’s goals and objectives. There are two ways to approach
business research.

Most of the restaurants are not fulfilling the customer demand in this
Hyvinkää city. Traditional Guru restaurant will be a new and only Indian
restaurant that can provide different and authentic traditional taste that
people in Hyvinkää have never tasted before. Customers can enjoy their
ethnic food with soft traditional music in the restaurant.

 Research Problem
There is no Indian restaurant in Hyvinkää city where people eat their dinner
or launch. in the city only one Nepalese restaurant with a small capacity
of traditional food service. So, customer service, food quality, satisfied
traditional services which are only a hypothesis that the author invented to
make a solution regarding this thesis. Traditional Guru restaurant will provide
all the needs according to the people demand in this city.
 Theoretical approach
Diverse hypotheses from writers are included regarding business plans,
SWOT analysis, distinctive inquiries about approaches, feasibility analysis,
company laws and observational considerations. The simple definitions and
articulations by experts were chosen.

 Limitations

The author had to stay as it were to the Guru restaurant whose main focus
was to serve only traditional Indian dishes. Since the trade size of the
company was little scale; the study was done with a few surveys and meet
around Hyvinkää. The author had to focus on Finnish business framework
since the company was aiming to begin its trade in Finland.

5
 Qualitative research methods
Qualitative research methods refer to research broadly and this research
methods focuses on collecting and analyzing words, these methods covers a
wide range of techniques and philosophies. Author can use it for written,
spoken, and textual data and it is also very common for a qualitative
methodology to be used when the research aims, and objectives are
investigative in nature. qualitative research can have a major contribution to
restaurant business research.

 Quantitative research methods

Quantitative research methods always look at the market and demographic
numbers, statistical analysis of data which is collected through polls,
questionnaires and surveys. This research method always answers the
question of how many real consumers would buy the product from the
business. Quantitative research always helps the business to research
statistics and number-based models to determine whether the business
product or services are viable in the operating area.

 Primary Data
Primary data is a type of data that has been collected by researchers directly
from the main sources; which means someone collected the data from the
original sources through interviews, surveys and experiments etc. In this
situation people are acting as a witness so primary data is only considers as
reliable as the people who collect it and it is useful for current studies as well
as for future studies. (for example: own questionnaire for market research or
some others.)

 Secondary Data
Secondary data are collected for different purposes. It’s a data that has been
collected for other purposes. Secondary data is the data that is being
reprocessed and this data always requires very little research and the need

6
 for manpower to use these sources. Secondary data always involves less cost
and less time. (e.g., secondary data can be found in books, journals, etc.

3. Business Planning

A good business plan always guides the entrepreneur through each stage of
stating and managing the business. Business plans can assist in getting
financing or bringing on modern trade accomplices. A business plan is a tool
that we use to convince people that they are working with the entrepreneur.
(Adam, 2020)

3.1 Business Ideas

A business idea is a concept that is commonly based on a product or service

that can be sold for money that can be used for financial benefit. When it
comes to business as a whole, an idea is the is the pillar of the pyramid, on
the other hand business ideas are a framework that intends to sharpen the
sense towards entrepreneurship. Effective and successful entrepreneurs
require special expertise, which is a must for sustainable development in the
best and broadcast context. (Adam, 2020.)

3.2 Business plan

A business plan is a written document that tells us in detail how a business

describes its objectives and how it is to go about achieving its goals. A
business plan is a fundamental document that any startup business needs to
have in place prior to beginning operations. Business plans are guidelines for
an entrepreneur, and it is a road map for where the entrepreneur wants to
take their business in the future. (Hearst, 2013.)

4. Restaurant Business Plan

According to the restaurant business plan, below are some of the common
and key points of a business plan which is very important, and every business

7
 must have plan, without plan it’s not possible to achieve the goal, whether
starting a small or expanding an existing business. A business plan is always
an important tool to help guide our decisions and it as a roadmap to future
growth and success. (Abrans R.1991.)

4.1 Executive Summary

This section describes the business and provides the mission statement along
with any details about the leadership, personnel, operations and location of
the company. The executive summary also provides the reader with the
concept of how the business works and why it has a unique chance of success
in the marketplace. Ideally, the executive summary will act as a document
that covers the highlights of our detailed plan.

4.2 Company Summary

A brief history of the business and why want to start business in this market
and how to develop the services. Company details, including the legal
structure of the company, line of business and growth potential. This part of
the thesis should provide the reader with the concept of how the enterprise
works and why company has a very good chance to make successful business
in the market (Pinson, 2008.)

4.3 Company Finance

Company finance is always an important part of the business plan, in order to
attract the other people reading the business plan, the company should
include their business financial plan, it will help others to understand the
company’s expected turnover, profit and loss for the first financial year.
Although a good financial plan always attracts the investors, every new
business should have a financial plan, no matter how big or small the
business is. (Abrans R. 1991).

8
 The financial plan should include:
estimated turnover for the first operating year
expected profit for first operating year
Loan Return Plan
estimated turnover for the next three years
After establishing the business financial statement including balance sheet,
financial statements and other financial information that will help to forecast
the company’s financial situation

4.4 Product and Services

This part will describe the products and services that are sold. according to
Maximilian, a product can be defined as anything that we can offer to a
market for attention, acquisition, and use of consumption that could satisfy a
need or want. On the other hand, services are a special form of product
which consists of activities, benefits or satisfactions offered for sale that are
intangible and do not result in the ownership of anything. (Maximillion, 2015)

 Price
This section describes the product prices, price is the cost what the customer
pays for a product. Every business must connect the price to the product’s
real and perceived value and they also need to consider supply cost, seasonal
discounts and prices of other competitors. Businesses can lower their prices
in a short time and then consumers can try the product.

 Target Customer
Author going to describe target customer here. The restaurant business' main
target customers are the young population of the area where the business is
doing their operation. According to Johnson; the customer mind is a complex
set of thoughts and ideas and cannot be fully predictable by human beings.
so, company will try to make customers happy by providing them good
service and authentic food. (Johnson, 2019)

9
4.5 Feasibility Analysis

Feasibility analysis is designed to assess whether the company’s endeavor is,

in fact the plan is feasible or possible it will be clear after doing the analysis.
The feasibility analysis is largely number driven and can be far more in depth
than a business plan. The main target of this analysis is to find the real
possibility of the business idea, it means the viability of the business idea that
we are planning to operate in the market.

Feasibility analysis determines whether the research truly measures the

results that were intended to measure or whether the research result is
truthful or not. Market analysis and customer interviews, which were done
with the intention seeing the response, were measured positively. It shows
that a large of population in Hyvinkää and around Hyvinkää are waiting for an
Indian restaurant to open.

 Opportunity analysis
Opportunity analysis aims to find the prowess of management and sufficient
supply to bring a product and services to market, this analysis is the process
to determine if an idea or plan is viable and worth pursuing for
commercialization. The entrepreneur should analyze the ability of their
management team on areas of interest and execution. Opportunity analysis
always helps to find the customer interest and attraction of the product and
purchase interest.
 Market analysis
According to Philip Kotler “Marketing is a human activity directly at satisfying
needs and wants through exchange process” after analyzing the market
research have found positive response from the customer and understand
the customer segment, design and how to develop and produce a product
which is needed by the customer also 7’ps of marketing mix which helps us to
influence customers to purchase our products in the future. (Philip Kotler,
2010, pp 3-22)

10
  Financial analysis
The financial analysis provides a detail about company’s total start-Up cash
needed for operations. This section of the business plan refers to the total
real cash needed to prepare the business to make its first sale. In the financial
analysis stage, author going to analyze the overall attractiveness of the
investment and the area to which a business opportunity is positive relative
to each factor which is based on actual performance rather than estimate.

4.6. Manager and Personnel

As a small business it is very important to manage their human resources

more effectively, mostly in small business, owners doing most of the work.
Personnel and management are essential to the success of any company
including big or small sized companies. most of the time small businesses are
not able to offer career benefits if compare with big or medium enterprises.
The quality of each employee in small business is the most important
condition for the success and future growth, because the failure of
individuals has immediate effects, disparate in big companies (Havliécek,
2011)
 Management
Managing a small business always presents some unique challenges for the
owner every and every day. Creating an effective management plan with the
personnel will help to handle the business operation smoothly.

 Personnel
Every and every company needs good personnel to run their business
smoothly. Here is good to remember that; a good personnel or employee is
very much essential to grow the business. Before selecting personnel for the
company, always better to ask some questions:
• What kind of qualifications and experience will personnel need to
have?

11
 • How many employees will be needed to operate a business
efficiently?
• What job do the employees need for?
• How much salary and what kind of benefits will the company pay to
their employees?
Research shows, so many small businesses fail because they hire too many
employees and very quickly. Other businesses fail because they become
successful too soon and they are not organizationally prepared. (Havlicek, K.
2009).

5. Company Law

When company going to choose the legal structure of the business and must
describe and explain why it is most important for future operations. The
entrepreneur or business director should be named on it. Their weaknesses
and strengths should be mentioned in the supporting documents of their
business plan and it will help a lot in the future. In Finland there are different
kinds of business forms and the most important business forms are described
below:
 Private entrepreneur (Toiminimi)
Private entrepreneurs are one of the easiest and most popular ways to set up
a business in Finland. the trade name of private enterprise shall include the
word “Toiminimi” or “TMI”. As a private entrepreneur you are self-employed,
and you can very easily start small-scale business activities mainly based on
your own work input.
Private entrepreneurs are the lightest and simplest companies formed in
Finland; a natural person residing in the EEA may carry out the trade in the
form of a private entrepreneur. On the other hand, if any person residing
outside of the EEA and he or she wants to open and setup a private business,
they need to have a trade permit which can be granted by the NBPR
(National Board of Patents and Registration. It is fairly and not so expensive
to become a private entrepreneur, you only need to register, and this will

12
cost just under 100 Euros and this cost depends on whether you carry out
registration online or with a paper form. (PRH, 2020)

 General partnership (Ay)

A general partnership is a good option for a small business with a trusted
partner. The general partnership company form is based on contractual
freedom which means partners are liable and concerned to make any kind of
agreement they face to set up a business and operate a business. the trade
name of the general partnership shall include the word “Avoinyhtiö” or “Ay”.
General partnership companies must have one responsible partner who must
be permanently domicile in the EEA. If none of them lives in the EEA and they
want to start their company, they all need permission from the Finnish Patent
and Registration Office (PRH) to set up a company. the residence of a limited
partnership’s silent partner has no relevance. the partners are personally
liable for the debts and other responsibilities of the partnerships, although
the partners can be either natural people or owners of other companies.
(PRH, 2021)
 Limited partnership (Ky)
Limited partnership is almost the same as general partnership, there have to
be two partners or founders of a limited partnership, and at least one of
them has to be a general partner. the trade name of a limited partnership
shall include word “Kommandiittiyhtiö or corresponding abbreviation “Ky”.
The general partner of a limited partnership shall be resident or registered in
the EEA, in other cases a permit must be applied from the National Board of
Patents and registered for all the general partners who are not from the EEA.
(PRH, 2020)
 Co-operative company (Osuuskunta)
Co-operative company is one of best company form for the agriculture and
the retail business sectors in Finland. On the other hand, a cooperative is
exceptionally suitable for shared entrepreneurship, regardless of the sector.
Under the cooperative company law; it allows you to sell your own skills
easily and in a fairly risk-free manner without a large initial principal,

13
 cooperative company can issue investment shares, which have many features
in common with limited companies. Co-operative companies can establish
alone or together with partners.
The key structures in a cooperative are a board of directors, the cooperative’s
general meeting and a managing director. The registration of a co-operative
company in the trade registration cost a few hundred euros, and I need to
pay fees to the registration office before sending the start-up notification.
(PRH, 2020)
 Limited company (Oy)
A limited company may be established by one or more natural or legal
persons, and at least one person or founder shall be permanently resident of
the EEA. The trade name of a limited company must include the word
“Osakeyhtiö” or “Oy” and the trade name of a public limited company shall
include the words “Julkinen Osakeyhtiö” or “Oyj” trade name which will be
registered either in Finnish or Swedish. A limited company does not have any
minimum capital requirements and a limited company can be a public limited
company or private limited company. the central difference between these
two types of companies is that the securities of a private limited company
may not be admitted to the public trade referred to in the securities market
act or a corresponding procedure. A public limited company must have
minimum share capital and its amount is 80,000 euros. the shares shall all
have the same nominal value if the share capital is divided into several
shares. In general, a limited company needs to call meetings at least once a
year and must appoint an auditor at the annual general meeting. however, if
the company size is small, they are exempt from the obligation to appoint an
auditor and its subject to concerning conditions. (PRH, 2020)

5.1 Competitive Analysis and Marketing Plan

Competitive analysis always provides a brief profile of business competitors,

competitive research involves identifying the competitor strengths and

14
weaknesses and evaluating the strengths and weaknesses of their products
and services. After doing a competitive analysis, an entrepreneur can
understand how products and services stack up and what kind of threats they
pose to the business.
The main benefit of competitive analysis is to identify industry trends that
entrepreneurs may have been missing.
There are four most important benefits to doing competitive analysis:
• Improving the market
• Understand the market
• Identifying market gaps
• Planning for the future operation
The marketing plan defines the current state of the company as well as the
goals for growth and presents proposals for action on the importance of
growth. The main points of the marketing plan are the analysis of the market
and competitions and the definition of the target market, the preparation of
the marketing strategy and the management of customer relationships.
(Dibbs.S and Simkin. L. 2008)
 Identifying Target Markets
Identifying target market analysis will give information on who are going to
sell the products to? Who is future ideal buyer and target market should be
defined in terms of demographics, psychographics and special characteristics
of a niche market? (Philip. K. 2010)
 Demographics
Demographics always refer to the original statistical data of the population,
average income, age and educational background. In this case it is very
common and reliable to get the data from the government which is a
common source of demographic information.
 Niche Markets
Niche markets are a small segment of the customer or the buyer that share
common characteristics, spending habits, interest etc. Niche marketing is
very often created by identifying what a customer wants and this can be

15
 done if the company knows about the customer needs and tries to offer
them a better solution to a problem which is not offered by another
company. (Philip.K.2010)
 Research the Competitors
It is very important to be concerned about what other companies are doing
in the same market, who is the main competitor? How are they doing with
their business operations? even a viable company should analyze the market
and competitors when it brings something new or improves the product to
the market, need to analyze their general health of their business, their
approach to marketing and their financial situation. Competitive research is a
critical part of any good marketing plan and many businesses lose because of
competitor analysis. They have never taken the time to do competitive
research. (Philip.K.2010)

5.2 SWOT and Porter’s 5 Factors Analysis

SWOT analysis is a very useful analysis to understand the business strengths

and weaknesses and for identifying both the opportunities open to us and
the threats we may face in the future.
SWOT analysis is always presented in the form of a matrix and can be done
with internal attributes of the organization and external attributes of the
environment. There are four parts of the analysis: Strength, Weakness,
Opportunities and Threats. (Nancy. W. 2019)
HELPFUL HARMFUL
STRENGTH WEAKNESS
OPPURTUNITIES THREATS
Table 1: SWOT matrix
Strength and Opportunity are internal attributes of the business that are
helpful to the achievement of the company’s objective.
Weaknesses and Threats are external conditions that are harmful to the
achievement of the company’s objective. When analyzing business
competition, Porter suggests his "Five Forces Model." Identified 5

16
competitive forces that shape every business and every market. From a
strategic point of view, this analysis technique is crucial to determine the
positioning of a company in a market, but also to fight against the
competition. (Nancy. W. 2019)

It is very much important to identify business relationships with the other

players who are doing the same business, including: Customers, suppliers,
producers of substitute products, potential new entrants, competitors. Based
on these five forces, the model emerges in the following form:

Threat of new
entrants

Bargaining Intra-industry Bargaining

power of
power of
customers rivalry supplies

Threat of substitte
products

Figure 1: Structure of Michael E. Porter’s 5 Forces Analysis, The

National Agency for Innovation and Research in Luxembourg, 2019

 Competitive rivalry within the industry

The competitive rivalry analysis describes existing competitors, products,
weaknesses, strengths and strategic of market share. When there are many
competitors in the same industry; some competitors think that they can
make competitive moves without being noticed and it affects one another.
The competition between one company and another company in the same

17
industry determines the attractiveness of sectors where firms are struggling
to maintain their control.

 The threat of new entrants

The threat of new entries always depends on the barriers to entry into the
market. they can be fully new companies or companies that intend to
diversify. The treatment of new entrants in the market always applies a
significant influence on the ability of current companies to generate a good
profit, even the arrival of new company also depends on the size of if the
market share, the reputation of existing companies, brand loyalty, cost of
entry, government regulations, capital requirements, access to supplier and
distribution channels and cultural barriers.

 The bargaining power of suppliers

In every market, the bargaining power of suppliers is very much important.
Suppliers always have the power to impose their conditions in terms of price,
quality or reducing the availability of their products. The bargaining power of
suppliers always affects the competitive situation and possibility of more
profit of the buyers. If the market has more suppliers their influence is
weaker.
 The bargaining power of customers
The bargaining power of a customer refers to a customer’ ability to buy a
product and reduce a product price even if it also contributes to improving
the product quality. In our market of operations, our customers are
educated, and they have an idea about the product, so the customer
bargaining power is high.
Although choosing a client is very crucial as a firm should avoid being in a
situation of dependence. Generally powerful customers will always try to pay
less and get more, threatening the business' ability to produce sustainable
profits and maximize future growth.

18
6. The City of Hyvinkää

The known history of the Hyvinkää city starts from 1495 and Hyvinkää become an
independent municipality and joined the Uusimaa region in 1917. Green and the
lively center of Hyvinkää has almost 50 000 inhabitant’s town in the north-
Uusimaa just over half an hour from the capital of Finland. Hyvinkää has grown
into the center of its economic area. The excellent logistical location and excellent
transport connections have brought a large number of successful companies to the
city. The city has preserved its closeness to nature and offers outdoor enthusiasts
and sports enthusiast’s excellent recreational opportunities in places such as
Sveitsi, in nature parks, swimming pools and ski resorts. Hyvinkää is also a
traditional city of fine arts, with roots in the art of Helene Schjerfbeck, Tyko
Sallinen, Jalmari Ruokokoski, Yrjö Saarinen and Terho Sak. (Hyvinkää, 2020)

The look of Hyvinkää has changed a lot with the growth, but traditions have
also been respected. There are also high-rise apartment buildings in the city
centre, but above all Hyvinkää is a city of detached houses, where looking for
a balanced, mentally rich and close-to-nature life. (Hyvinkää.fi, 2020)
 Today’s Hyvinkää
Hyvinkää is a medium size town very close to the capital and nature in
Hyvinkää has been always a great deal and influence on the citizens. here
currently more than 50,000 inhabitants, Hyvinkää always offering a good
environment and a variety of options for its people in different stages of their
life.
Hyvinkää has a very high number of work self-efficiency, which is 95,4% in
2017 as a result of its central location. This means huge opportunities in
different sectors for its residents. Commuting to and from the city is part of
the daily life of many people. (Hyvinkää, 2020)

19
 Figure 2: Map of Hyvinkää map (Hyvinkää.fi ,2020)

Distance to nearby cities:

Helsinki, the capital of Finland, is about 45 min by train or car and Hämeenlinna
35 min by car. Lahti, Porvoo is about 1 hour, and nearby big cities like Tampere
and Turku are about 1,5-2 hours away from the city. (Hyvinkää, 2020)

6.1. Business plan for an Indian restaurant Guru in Hyvinkää

“Guru” means master or leader, especially in Indian religion. From this point of view,
Author decided to give the restaurant name Guru. Guru want to be the leading
restaurant in the city.

The idea is to provide an improved, locally served and top quality Indian food to the
people who do like an exotic dinner and rich flavor of traditional foods and who like

20
to dream for a while to be in an Indian palace for a memorable dinner and of course
who enjoy Indian cuisine with comparable cheaper price.

• Executive Summary
“Restaurant Guru” is a traditional and authentic Indian cuisine with all kinds
of traditional facilities established in the Hyvinkää city center. As discussed
before that Hyvinkää is the part of the Helsinki region and a fast-growing
business center with a of more than 50000 population and just 45km away
from the capital. (Hyvinkää, 2020)

The force behind this business idea is from a Bachelor of Business

Administration Student who has work and business experience in the
restaurant department and also has a keen interest in every single point of its
nature. It will be a limited share company (Oy). The company owns the
business assets and is liable for business debt.

• Mission
Restaurant Guru is a very nice and great place to eat authentic Indian food.
Companies mission is not only to sell food, also have professional and friendly
service because customer satisfaction is the main target of the business. The
customer will choose Guru restaurant because of authentic food and great
service.
Guru restaurant also have a mission to take care of their employees and
believe that employee welfare will be important for success and everyone
who works with will be treated fairly. Restaurant Guru wants its employees
to feel a part of their success. An employee always plays a great role in being
a successful business and a good employee is always valuable for any
business who wants sustainable growth.
Guru restaurant will provide an affordable meal because in our pricing, Guru
shall not consider the high profit for the first year. As a traditional and
authentic cuisine, also committed to providing society with the best meal
that’s conformity with the Finnish anti toxic, health and food control board.

21
 • Objectives
Business mission is to introduce delicious Indian food with authentic taste
and the best possible service according to the demand of consumers who
wish to enjoy traditional food at a reasonable price so that one of the rich
cultures of the world is introduced to Finnish people here in Hyvinkää city.
• Key to success
Ravintola Guru is a traditional Indian Cuisine for the first time in Hyvinkää
city, which is determined to keep its traditional value of the cuisine and serve
the fresh and tasty Indian banquet the Hyvinkää people. This is due to the
fact that people like to have an exotic dinner with traditional atmosphere but
unfortunately in the commercial market nobody wants to keep the originality
for the high profit, to think about those people, entrepreneur’s intension is to
satisfy them fully as their need within capability. The creation of a unique and
innovative fine dining atmosphere will differentiate Guru from the entire
competition. Restaurant aim is to provide the society highly nutritional, best
maintaining of hygienic and clean environment and of course convenient to
people.

Restaurant will provide an affordable meal because in their pricing, company

not consider the high profit for the first year. As a traditional Cuisine,
company committed to provide the society with the best meal that’s
conformity with the Finnish anti toxic, health and food control board.

6.2. Food Guru’s Law and Competition

The restaurant will start under the Food Guru Oy (Oy= Limited Partnership)
company, and the name of the restaurant is “Ravintola Guru” which is 100%
owned by Food Guru Oy. Here in the company there is one owner although
the company format is a limited partnership.
 Competitors Analysis

22
 The competitor analysis is done and have considered possible competitors
business strategy. Hyvinkää city is not really familiar with Indian cuisine,
although there is no Indian restaurant yet, however the people of Hyvinkää
city are very much keen to have one such place where they could enjoy their
dinner in a different and enjoyable environment.

 Competition
There is only one fine dining restaurant in Hyvinkää city center which is
Nepalese cuisine. there is no Indian restaurant that exists yet. Hyvinkää is a
big city which is part of the capital of Finland and the city located in the east
part of the Helsinki region. Restaurant (Ravintola) Guru will be one and only
authentic Indian restaurant in Hyvinkää and its located in Hyvinkää center.
So, right now Guru has no competitors with similar food in Hyvinkää.
(Hyvinkää, 2020)

6.3. Company Summary and Finance

“Guru” is a master of any sector, in that sense company will be provide a

unique taste of food and friendly customer services to the customers.
Restaurants will be located in Hyvinkää city center of Hyvinkää and customers
around the city will have easy access to visit our restaurant as it is in the
middle of the city. Own parking lot and there are about five hundred car
parking places. The restaurant seat capacity is 55 and our mode of operation
is Monday to Friday
Lunch; Buffet: from: 10:30 to 15:00.
Dinner; A’ la Carte from: 15:00 to 21:30
Saturday
A’ la Carte from 12:30 to 21:00
Sunday
A’ la Carte from 13:00 to 21:00
Takeaway Service for the clubbing people till closing time.
Restaurants will be closed 6 days a year for mid-summer and Christmas
holidays. Any bank holiday will be considered a Sunday which means a buffet

23
lunch will not be served and the restaurant will open at 13:00 and close at
21:00
Generally, restaurant business depends on service because this business fully
service oriented all many restaurants fail because of their poor services.
According to the survey, there are so many restaurants do not provide good
service and even if they do not ask the customer about their choice or taste
of food. Restaurant Guru will provide traditional and authentic Indian food
along with some Bengali dishes as well Guru has its unique and authentic
taste which is from a rich tradition.

 Start-up Summary
In start-up summary company going to include the description of start-up
expenses. Below amounts are start-up investments and expenses:
Start-Up Expenses:
Company Legal 500,00€
Office Suppliers (Cash register) 2000,00€
Stationery 300,00€
Card reader and printer 1200,00€
Furniture (tables and chairs) 10000,00€
LVI Ilmastointi (Ventilation) 20000,00€
Advertisement 2000,00€
Cash counter and decoration 10000,00€
Phone and computer 1500,00€
Food/raw materials 5000,00€
Drinks 2000,00€
Kitchen utilities 20000,00€
Tablecloths and atmospheres 1500,00€
Restaurant utensils 2000,00€
(everything you need for cooking)
Music Instruments 1500,00€
Website and IT support 1500,00€
Staffs uniform 1000,00€
Cleaning 500,00€
Electric Installation 2000,00€
Car (Second hand) 2000,00€
Menus and other printing costs 500,00€
Insurance 1500,00€

24
Others 2000,00€
Total Start-up Expenses: 90000,00€
Figure 3: Start-up expenses

 Working capital
Working capital is described as the difference between current assets and
liabilities. Working capital is also known as Networking Capital. Current assets
are the most liquid of the assets, which means they are ready to be used or
can be converted into cash. The working capital is available to pay the
company’s current debt and represents the margin of protection company
can give their short creditors. (Sba, 2013.)

Working capital is a measure of a company’s liquidity, operation efficiency

and also its short-term financial health. So, working capital at this point in
restaurant business operations includes all the variable costs and fixed costs
and here the fixed costs are salaries, rent, electricity, utility bills and
insurance. Variable costs include raw materials, beverage, marketing, and
fuel etc.

Although the variable costs calculations are made based on the wholesale
price from wholesale market. To calculate the working capital, compare a
company’s current asset to its current liabilities. Current assets always listed
on a company’s balance sheet include all cash, accounts receivable, inventory
and other assets that are expected to be liquidated into cash within a short
period of time. On the other hand, company’s current liabilities include
accounts payable, wages, taxes payable and the current portion of long-term
debt. (Jason F. 2021)

 Break-even point analysis

Break-even point analysis is a very important and common tool in analyzing
the economic feasibility of a new start-up. The break-even point is the point

25
 at which revenue is perfect and exactly equal to costs where a company has
no profit, or no losses are gained. (Horhota, 2012.)

Break-even point is related with two different types of cost; fixed and
variable costs. Fixed costs are overhead type expenses that are constant and
do not change as the level of output or revenue changes. On the other hand,
variable cost is not constant, and it can be changeable during operation.
Break-even point analysis is very helpful for any kind of business, especially
new business, in most cases success takes time to gain and many small
businesses operate in loss in very early stage. Break-even point is an excellent
benchmark by which the short-term goal of the business can be measured.
Break-even analysis helps to keep in focus on connecting production and
achieving goal. (Horhota, 2012.)
Estimated gross margin target:
Gross margin target:
Total Particulars
Profit target 00€
Fixed cost (€/Yearly)
Salary 80000,00 6666/Month
Electricity 4000,00 334/Month
Rent 24000,00 2000/Month
Phone 600,00 50/Month
Gas 2500,00 208/Month
Ad cost. 4000,00 333/Month
Magazine 850,00 70/Month
Web 1200,00 100/Month
Company Insurance 13500,00 1125/Month
Others 2400,00 200/Month

Total fixed Cost:

132650,00
(+) Depreciation 10% 3000,00 3000,00 3000,00
(+) Interest 6% 6000,00 6000,00 6000,00

26
 Gross Margin Target 141650,00€

Financial analysis (Break-even point)

Contribution %
(100*141650/422383,20) 33,54%
Break Even point (annually) 422331,00
(100*141650/33,54)
Monthly Break-Even point (422383,20/12) 35198,60
Daily Break-even point (35198,60/30) 1173,30

 Products and Services

Main product are foods and drinks that customers will enjoy in the
restaurant. Business providing authentic food with good service.
 Price
It is very difficult to fix the accurate pricing for the cooked food, especially for
the Indian foods, because a hundred ingredients and spices are needed to be
cooked Indian foods. It is well known that spices and India whose names are
related to each other because most of the spices have been invented by
India.
However, author have made an estimated calculation about the ingredients
(raw materials) cost and other direct and indirect cost per meal and then
going to fix the selling price of each meal. Business will keep the price level in
order to reach their target groups and that’s why make a different price
strategy for the lunch (buffet) and dinner (a’ la carte). Guru restaurant will
face competitor for the lunch customer because of other restaurants and
have to consider their price level.

Restaurant pricing will be determined by the cost of all factors of production.

Prices will vary depending on the menu, such as Chicken will be cheaper than
Lamb meat. Here only one kind of menu price has been shown.

27
Production & service cost of a “Chicken Tikka Masala” A’ la Carte (1 meal)
Ingredients &other Weight/Kg Euro/Kg Total
materials Euro
Chicken 0,200 6,00 1,20
Spices Average 1,50
Rice Average 1,20
Papa dam Supplementary 0,25
Gas & Average 0,50
Electric
Labour & Average 3,55
service
Rent & Average 1,60
other
Total production & service cost 9,8

Figure 4: Meal Production Cost Analysis.

Based on this price analysis company will have an overall idea of the pricing;
this price gives an idea of how much it will cost per portion. for lunch hours,
here in this city other restaurants sell their product with a minimum profit
margin. It’s better to offer it at an average price. The ideal price will be
between, 10.90€ to 11,90€ the lunch includes salads, main dish customers
can choose among vegetables, chicken, beef or prawns, basmati rice with
plain naan-bread. Tea or coffee including lunch.
 Target Customer
Restaurant Guru will focus on attracting varied and different consumer age
range between 20-55 although Guru’s ultimate target customers are business
people who have their lunch in the restaurant regularly and from the whole
population of Hyvinkää and near cities between 20-60 age range who like
outing regular or occasional basis and of course who like the Indian cuisine.
There are a few demographic factors what author use to target customers:
Age

28
 Gender
Income level
Buying habits
Occupation
Marital status
Above, all the factors we are going to analyze to calculate our sales target.
 Questionnaire results
For the marketing research author asking the question to the people who live
in Hyvinkää city and usually visit the restaurant during lunch time.
The marketing research was carried out in Hyvinkää big shopping mall, Willa,
on 10th March 2021. there were 15 respondents where 10 of them were
made and 5 of them female. The main objective of the first question was
whether a citizen of Hyvinkää was familiar with Indian cuisine or not at all.
The questionnaire results were surprisingly positive. All 15 candidates were
familiar with Indian cuisine, even though no Indian restaurant exists yet in
the city. They have been tasting Indian food in Helsinki and the neighbor city
Riihimäki.

The second question’s goal was to know how regularly they visit and take
their lunch or dinner from the restaurant. In this question they all respond
very regularly to what they eat from the restaurant and they visit three times
a week in a traditional restaurant. The most interesting question we have
asked about the possibility in opening an Indian restaurant in the city and
what is their response and interest of that? Here all of them were very happy
to hear that Food Guru Oy going to open an Indian restaurant in the city and
they responded very excitedly as “great idea”.
The interest of all the candidates seems to reveal that there is really a need
for an ethnic restaurant like Indian cuisine in Hyvinkää city
6.4. Management and Strategy

Managing a small business means managing all aspects of the business,

passion to fulfil the demand of customer by offering them such varieties of

29
 foods that they cannot find elsewhere. As a small entrepreneur, organization
structure is below:

Managing Director

Restaurant Manager

Executive Chef Waiters

General
Chefs

Figure 5: Guru’s Organizational structure

 Restaurant CEO
Restaurant’s CEO is responsible for decision making and takes care of the
workers who work most of the time and are key members of staff.
The CEO will communicate on behalf of the company, with government
organization, shareholders and the public. The CEO is responsible for creating
and implementing the company’s vision and mission (Havlicek, K. 2011)

 Restaurant Manager
Restaurant’s manager manages the kitchen and all other staff, and the
manager is also responsible for inventory systems, shift scheduling,
marketing and financial departments.

 Executive Chef
Executive chef is the heart of the restaurant, executive chef will take care of
food taste and flavor. The executive chef will monitor cooks and reports to
managers and is responsible for advising normal cooking and kitchen work.

30
 General Chef
General chef always prepares the food in the kitchen, always works under the
executive chef and is also responsible for food quality and cleanliness.
 Guru’s Strategy
Restaurant Guru will be operating under the company name Food Guru Oy
and its strategy is to develop high quality food with authentic taste, good
service and warm hospitality. Guru’s main vision is to become a popular and
famous traditional Indian restaurant in the city. Guru’s all food items are
excellently decorated and served to the valuable customers who want to take
food inside or want to take it away. Serving quality food to all customers
with an authentic taste which makes, the most popular fine dining restaurant
in Hyvinkää. Developed promotional strategy, which is consistently pursued,
and could enable it to gain visibility in the Finnish food industry. Hyvinkää
market, entrepreneur have been doing their advertisements like flyers,
newspapers and magazines. Social media marketing will also be used for
advertising. Restaurant have own webpage marketing and also other internet
marketing such as eat.fi, raflamo.fi, fonecta and local newspaper aamuposti.

Feasibility analysis
Feasibility analysis is the process of determining if a business idea is
workable. It is a preliminary evaluation of a business idea, conducted for the
purpose of determining whether the idea is worktable or not. Researched a
few analyses according to the market and customer and opportunity analysis
which have done during survey. The feasibility analysis takes the guesswork
out of a business launch and provides an entrepreneur with a more secure
concept that a business idea is feasible. (Sampson Quin. 2018)

Opportunity analysis
Restaurant Guru is a traditional Indian cuisine for the first time in Hyvinkää
city which is determined to keep its traditional value of the cuisine and serve
the fresh and tasty Indian banquet to the Hyvinkää inhabitant.

31
Opportunity analysis shows that, people are very much interested to have an
Indian restaurant in the city because they have no traditional Indian
restaurant Where they can taste and enjoy this mouthwatering food and
warm hospitality.
Analysis shows that Finnish people are becoming more internationalized and
more interested in exotic foods than the local and fast food. They like Asian
foods and they are very much familiar with Indian culinary culture, especially
young people of the city. This analysis has given us an opportunity to capture
the largest market share in Hyvinkää and beyond before the entrance of any
competitor of serving Indian traditional foods. This is a big challenge to
establish an Indian cuisine that will compete favorably and possibly surpass
the performance of its market.
Market analysis
Company have feasible market analysis which will helps a lot to get the real
scenario of the market where are going to start the business operation.
Market analysis helps achieve business objective, comprehensive market
analysis, where collected information about what kind of competitors
company going to face.
According to TripAdvisor and Hyvinkää city web pages and personal analyze
the market, there are all together 41 traditional restaurants and cafeterias in
the Hyvinkää city center. which are categorized by as follows:
International and Finnish café 9
Lunch restaurant 5
Pizza and fast food restaurants 6
Burger restaurants 4
Thai restaurants 3
Chinese restaurants 5
Nepalese restaurant 1
Mexican restaurant 1
Italian and Spanish restaurant 2
Other 5
Total Number: 41 (TripAdvisor, 2020)

32
 The market analysis shows that there is no Indian restaurant in the city, it
seems to be a good atmosphere and environment for an Indian restaurant, so
still nobody has introduced a traditional Indian cuisine in Hyvinkää city. All of
the other traditional restaurants have strengths and weaknesses in what find
from the analysis.

6.4. Financial analysis and Stakeholders

Financial analysis estimates the sales and revenue that company expect the
business to generate.
Sales target
Company’s ultimate target group are businesspeople who have their lunch in
the restaurant regularly and from the whole population of Hyvinkää who like
outings on a regular or occasional basis and of course who like the Indian
Cuisine. The sales target calculations are as follows:

The first calculation is based on the daily sales of restaurant in Hyvinkää. The
research says that in every food restaurant in the Hyvinkää city center has
average per day lunch sales 35 to 150 (sales varied by category, location,
marketing, quality and good will) and according to author analysis the
market, average dinner sales per day is 20 to 130. The average per day take
away is 50 to 80.

Good location, well known ethnicity, high intention of our food’s quality,
standard service, traditional atmosphere and marketing strategy gives a high
assurance that company will be able to catch the minimum sales target as
follows:

Lunch on average with takeaway 70

Dinner average: 35
every weekend more 25 Dinner
Total sales target is 80 (Normal day) twenty-two times a month
Total sales target is 115 (weekend) eight times a month

33
 Analyzing with above calculations technique can reach an average sales
target, and this is 105 customers everyday which divided as Lunch 70 and A’
la Carte 35. Drinks sell is 10% of the A’ la Carte turnover and first course and
desserts are sold.

Will continue to keep this sales target for the first two quarters and from the
next quarter sales target will be increased by 10% with own publicity, quality
and known around by its age.

• Turnover target

Company also has a turnover target which will helps a lot to forecast the
future turnover and annual turnover. Which is calculated as follows:

1st Two Quarters:

Daily Á la carte is 35; the selling price is average 15,90€; restaurant will be
open 179 days for the first two quarters.
Daily Launch will 70; selling price is 10,90€; Lunch will be served on average
120 days (Deduct weekend and holidays)
Turnover
Á la carte 35*15,90*179= 99613,50€
Lunch 70*10,90*120= 91560,00€
Drinks, First courses and desserts 10% of Á la carte sale 9961.00€
Turnover for the first 2 quarters
201134.85€
Last two quarters with 10% increased sales 221248,35€
Total target sales for the year 422383,20€

Based on the above sales for the year, an estimated income statement is
drawn just to see how the business will perform.
Here is next three-year profit and loss according to target sales plan:

34
 Year 2021 Year 2022 Year 2023
15% increase 10%increase
Turnover: 422383,20 485739,50 534253,45
Raw material: 126715,00 145721,00 160376,00
Gross Margin: 295668,20€ 340018,50€ 373877,45€
Gross margin % 70% 70% 70%
Expenses per year:
Salary 80000,00 88000,00 96800,00
Electricity 4000,00 4500,00 5000,00
Rent 24000,00 24000,0024000,00
Phone 600,00 600,00 600,00
Gas 2500,00 3000,00 3500,00
Ad cost. 4000,00 4500,00 5000,00
magazine 850,00 850,00 850,00
web 1200,00 1200,00 1200,00
Insurance 13500,00 14500,00 15500,00
others 2000,00 2000,00 2000,00

Total Operating Cost:

132650,00€ 143150,00€ 154450,00€

(+) Depreciation 10% 3000,00 3000,00 3000,00

(+) Interest 6% 6000,00 6000,00 6000,00
Profit before taxes: 154018,20 187869,50 210427,45
Taxes incurred 42300,00 45200,00 48900,00
Net Profit. 111718,20 142669,50 161527,45
 Different Taxations
In the food industry of Finland the entrepreneur has to pay value added tax
for foods, beverage tax, city taxes ( tax rates are 14%, 24%, 21% ) after
paying this all, the entrepreneur needs to pay their own income tax, which is
called corporate income tax, and generally the rate is 32% which need to pay
end of the financial year. (Vero.fi, 2020)

35
  Guru’s Network and Stakeholders
Appropriate stakeholder management can be used to advance support for a
restaurant business and anticipate struggle, conflict, or competing objectives
between the stakeholders.

As a restaurant business, Guru have few stakeholders and they play a

significant role in doing everyday operations. Stakeholders can easily affect
the business actions, even though not all stakeholders are equal, some
stakeholders are less important to a business than others. In order to
differentiate between the different stakeholders and have two types of
stakeholder which are external and Internal

External
Land Loard
LähiTapiola
Drink Distributor
Metro Tukku
Heino Tukku Internal
Hartwall Oy
Raw materials supplier
Owner/Manager
North Food Oy Emplyees
Heino Tukku Accountant
Patu Oy
Local Market
Competitors
Base Camp (Nepalease Restaurant)

Figure 6: Internal and External stakeholders

Core Stakeholders for Business Operations:
Partners or stakeholders are individuals or groups that are affected by
organization's activities. Business partners and owners are a commonly
recognized stakeholder group. Nonetheless, also additionally need to think
about how the customers, local communities, and working partners impact
business.

36
 A balanced attitude with all of business partners shows that the includes an
understanding of stakeholder influence that normally increases our long-life
sustainability and success in the business.
The restaurant business, there are three different stakeholder groups and
they are restaurant owners, suppliers and consumers and they play
significant role to operate a business operation. Core stakeholder map of
Guru Restaurant as follows:

Food safety
Neighnours City resident Tax authority Authority

Regulators
Community
OWNER/MANAGER

Wholesale
market

CUSTOMERS
Beverages SUPPLIERS GURU
Distributore

Kebab &
packet Bank
distributor

Verifone/Nets Luottokunta

Figure 7: Stakeholder map of a Guru restaurant

The above core stakeholder map shows how important our stakeholder relationships
are. The main stakeholder are customers. Customers always play significant role to
keep the business going and growing.

37
6.5. Guru’s Marketing Plan and SWOT analysis

Hyvinkää city is full of industries and established companies. Guru restaurant going
to make a special price for them and make a brochure for all the hotels in Hyvinkää
city to provide their guests with photos of Guru restaurant with price and food
names.
There are several offices where will approach them and try to use word of mouth
marketing in a powerful way and also offer gift vouchers and bonus cards for local
companies. Company will put a high concentration on local media marketing and will
use local newspapers which are published two times a week also plan to open
advertisements to the Aamuposti newspaper at least four times a month before
operation starts. Commercial to local radio, especially the first week of operation
and occasionally. Company also will do In-store marketing which includes:

o Guru will have a grand opening celebration

o Valentine’s Day celebration
o Easter Friday and Sunday celebration
o May Day
o New Year’s Eve
o Memorial Day
o Special Ethnic Food Nights
o Victory day
Porter’s 5 Forces Analysis:

38
Porter’s 5 analysis which is below. the analysis will help a lot to make operation smother

Figure 8: Porter’s 5 forces analysis worksheet for Guru

Guru’s SWOT Analysis

Every business has some strengths and weaknesses which it needs to find out
for future growth. Restaurant Guru also have SWOT analysis, and these are as
follows:
 Strengths
The first part of a business is that company have immense knowledge of the
business sector and employees have full knowledge about Indian cuisine. The
owner has a good educational background and knows about hygiene and
alcohol laws.
Indian food is one of the tasty foods in the world and Gurus menu selected
from bestsellers and world-famous Indian restaurants. right now, Guru do
not have any competitors in production in Hyvinkää city.

39
According to the survey, people are very much interested in Indian cuisine
and they must eat it. Business have marketing strategies such as cooking
demonstrations and recipe displays; these will attract customers.

 Weaknesses
Every business has some weaknesses, and which is very important to analyze
and try to solve them to compete with future competitors. Guru also has
weaknesses and the main weakness could be language and cultures. Chefs
are not from Finland, and they have no knowledge about the food culture
and the language at all. The lack of practical function knows how, even with
no existing market image.
Lack of practical marketing experience, minimal workforce at the beginning
and new product for the city.

 Opportunities
The main opportunities for Guru have:
Expand places to meet additional customer needs and expand into chain
restaurant businesses all over Finland and other European countries. Home
catering services for partying. Respond to fast market growth. Attend food
fairs and TV shows (Kokki Koulu) and offer loyal customers for an Indian food
cooking course

 Threats
The main threat of Guru, it could be new competitors entering the market.
Vulnerable to recessions and business circles. Change client taste, customer
may try another food. Unexpected competitions from other fast food
restaurant and potential in lack of raw materials and food ingredients.
Permanent customers can decrease, customer bargaining power can be
decreased.

40
7. Conclusions

The name “Guru” idea come from the master chef reality shows in Finland. Guru is
an Indian word which means teacher or master. Restaurant Guru is a new master of
authentic Indian food in Hyvinkää city. Always be trying to serve best and trust that
entrepreneurs have the ability to capture the customer's attention. Just want to
listen to the customers, because customers are king, and every king has their own
chefs and they used to cook various and delicious foods for them. So, Guru’s
customers are the imperials and this restaurant will be their kitchen palace, from
where king will get real food and services which must make them feel that they are
the real imperials and they are in the kitchen palace.

The target of this thesis is to open an Indian restaurant in Hyvinkää city center under
the name “Ravintola Guru” which company are going to operate on the right path
towards its goals and objectives. The other aim is to build, grow and improve as a
well-known company in the city of Hyvinkää.

As a thesis, this business plan can be divided into three parts: Theoretical part,
Research part and Implementation part. The first part of this thesis is a literature
review which will give detailed information on how to build the framework of a
business plan, also done marketing research around the place where the Guru
Restaurant wants to provide its services. The research part has questionnaires that
were distributed to some chosen people of different ages and professional
backgrounds and SWOT analysis towards the business idea was given. In the
research part, the main objective of the questionnaires was to know whether people
of Hyvinkää were serious with the taste of Indian cuisine and the research result was
surprisingly positive. The purpose of the business idea is to start an Indian restaurant
in this city and let people know about Indian Cuisine and south Asian culture as the
world becomes smaller and smaller now the restaurant business can be introduced
more deeply

41
References

Adam H. (2020). business plan. Retrieved 28 February 2021 from

https://www.investopedia.com/terms/b/business-plan.asp

Abrans R. (1991). Successful Business Plan: Secrets and Strategies, how to write a

business plan in 2021. Retrieved 01 March 2021from

http://articles.bplans.com

Alexandra Twin. (2021). The 4Ps. Retrieved 03 March 2021 from

https://www.investopedia.com/terms/f/four-ps.asp

Adamkasi. (2018). Porter’s Five forces of Restaurant Industry. Retrieved 2 April 2021

from https://www.porteranalysis.com/porters-five-forces-of-restaurant-

industry/

Business Finland. (2021). Finnish government service for the entrepreneur. Retrieved

30 March 2021 from https://www.businessfinland.fi/suomalaisille-

asiakkaille/tietoa-meista/lyhyesti

Dibbs.S and Simkin. L. (2008). Marketing Planning. Book for Marketing Managers, KW

Global New York 11788

Finnish national websites. Forms of enterprise. Retrieved 31 March 2021 from

https://www.suomi.fi/company/starting a-business/forms-of-enterprise

Finnish Patent and Registration Service. PRH. Retrieved 19 March 2021 from

https://www.prh.fi/en/index.html

Finnish Tax Authority, New Entrepreneur. Retrieved 15 February 2021 from

https://www.vero.fi/yritykset-ja-yhteisot/yritystoiminta/uusi-yritys/

Hay G. J & Castilla G. (2008). Object-based image analysis: SWOT Calgary. Canada

42
Havlicek, K. (2009). Task of Managers in the Business Management, 1st Edition,

Prague: University of Finance and Administration, pp. 87

Havlicek, K. (2011). Management & controlling small and medium-sized companies.

1st Edition, Prague: University and Finance and Administration, pp. 210.

Jason Fernando. (2021). Working Capital (NWC). Retrieved 12 February 2021 from

https://www.investopedia.com/terms/w/workingcapital.asp#:~:text=Workin

g%20capital%2C%20also%20known%20as,liabilities%2C%20such%20as%20ac

counts%20payable.

Jamie Johnson. (2019). How to conduct competitive research. Retrieved 28 March

2021 from https://www.uschamber.com/co/start/strategy/how-to-conduct-

competitive-research

Kalyan-cityn. (2011). Retrieved 01 February 2021 from http://kalyan-

city.blogspot.com

Maximilian Claessens. (2015). Definition of Product and Service. Retrieved 02 March

2021 from https://marketing-insider.eu/definition-of-product/

Philip K. (2010). Principles of Marketing, University of Minnesota Libraries Edition

2015.

Sampson Quin. (2018). Types of Economic Analysis. Retrieved 13 March 2021 from

https://smallbusiness.chron.com/types-economic-analysis-3904.html

Synek, M. (2007). Management Economics. 4th up-dated edition, Prague: Grada, pp.

452.

Nancy. Wagner. (2019). Sample of a SWOT analysis for a restaurant. Retrieved 12

March 2021 from https://smallbusiness.chron.com/sample-swot-analysis-

restaurant-73526.html

43
The Business Continuity Institute. How Natural Disaster Impact Business. Retrieved 28

March 2021 from https://www.thebci.org/news/how-natural-disasters-

impact-businesses.html

The Best Restaurant in Hyvinkää. (2020). Retrieved 12 March 2021 from

https://www.tripadvisor.com/Restaurants-g795962-Hyvinkaa_Uusimaa.html

Understanding Buyers’ Bargaining Power. Retrieved 28 March from

https://strategyforexecs.com/bargaining-power-buyers/

Welcome to Hyvinkää. (2021). Retrieved 01 April 2021 from

https://www.hyvinkaa.fi/in-english/

44
 Appendix 1/1

Appendix 1. Questionnaires

Questionnaire for Marketing Research in Hyvinkää city

“Ravintola Guru”
1. Sex
----Male -----Female
2. Age

3. How many times a week do you go to a restaurant?

a. Never
b. Once a month
c. Every week
d. Once a year
4. Do you think Hyvinkää need an Indian restaurant?
a. Yes
b. No
c. Maybe

5. Do you know about Indian foods?

a. Yes
b. No

6. Have you tried Indian foods for the last six months?
a. Yes
b. No

7. What do you think about Indian restaurant in Hyvinkää city?

a. Great Idea
b. No, it would not work
c. No idea at all

8. Why do you go to a restaurant? please choose one.

a. Lunch
b. Dinner and enjoy the atmosphere
c. Meeting friends
d. Another reason

9. what would you prefer during lunch?

a. Buffet
b. Waiter service

10. Do you think it’s important to make decorations in ethnic restaurants?

a. Yes

45
 b. Not at all
c. Maybe

11. would you like to recommend to your friends and family if you like the restaurant
foods and service?
a. very often
b. Not at all
c. I don’t know

12. which city do you live in?

a. Hyvinkää
b. Riihimäki
c. Helsinki

46