OPENING A CATERING ESTABLISHMENT AS A BUSINESS OPPORTUNITY

The creation of the diploma thesis is the fruit of an idea that emerged during lectures in the entrepreneurship module at the vocational school. Whilst searching for an idea for establishing a company, we came up with the notion that we could prepare a business plan for establishing a catering establishment, as this desire had existed for a long time, but we had neither the necessary courage nor sufficient knowledge for further development in this direction. For the market research, they used a questionnaire survey with which they attempted to determine the satisfaction of current visitors to catering establishments with the existing offer and wanted to find out what they were missing or what the newly established catering facility could offer in comparison with the competition.

Problem

The creation of the diploma thesis is the fruit of an idea that emerged during lectures in the entrepreneurship module at the vocational school.

Solution and Method

Whilst searching for an idea for establishing a company, we came up with the notion that we could prepare a business plan for establishing a catering establishment, as this desire had existed for a long time, but we had neither the necessary courage nor sufficient knowledge for further development in this direction. With the help of research and a truly illustrative lecture by a lecturer with many years of experience in this field, this idea once again seemed feasible, and with the help of the prepared business plan, as a foundation for any planning of a start-up company, the idea was supported by research which was proof that this idea could also become a business opportunity.

In the entrepreneurship module, they acquired basic knowledge on how to prepare a business plan, which was the foundation for the creation of the diploma thesis with this title.

Results

For the market research, they used a questionnaire survey with which they attempted to determine the satisfaction of current visitors to catering establishments with the existing offer and wanted to find out what they were missing or what the newly established catering facility could offer in comparison with the competition. They defined goals and strategies for achieving success, determined the characteristics of the market and examined the strengths and weaknesses of the competition, planned sales, procurement and staffing, prepared a financial plan and anticipated the purchase of the premises in the following years, and attempted to foresee the majority of advantages and disadvantages that could arise in this process.

In addition to the marketing plan, an important part of the business plan is the projection of financial operations for the first four years and the finding that the conceived company, taking into account the assumptions and forecasts in the business plan, could achieve solid business results. They realised that without an idea and a goal there is no progress or realisation, therefore in the diploma thesis they attempted to prove that the idea is feasible despite the obstacles and barriers that would arise in the process.