Le Tkhan Zui

CREATING A BUSINESS PLAN
FOR AN ONLINE STORE

OF PROPER NUTRITION
LAB University of Applied Sciences

Bachelor of Business Administration, Business Information Technology
Spring 2023
Tkhan Zui Le
Abstract
Author Publication type Completion year

Tkhan Zui Le Bachelor’s thesis, UAS Spring 2023
Number of pages 10 pages of
57 appendices
Title of the thesis
Creating a business plan for an online store of proper nutrition
Degree
Bachelor of Business Administration, Business Information Technology
Abstract
Since coronavirus pandemic starting from 2019 and the self-isolation that followed it
revealed the main problem of companies that are used to working offline. They were
unable to quickly transform and start selling remotely. At the same time, after several
months in self-isolation, millions of people have realized that buying on the Internet is
convenient. The researcher evaluated the relevance of the thesis topic, conducted a
preliminary market analysis, surveyed the potential customer segment, and
developed based on all this a business plan for an online store of proper nutrition.
This thesis study represents detailed business plan for an online store of proper
nutrition in Finland as well as a theoretical basis of business planning. The thesis can
be considered as a guideline for establishing an online store of proper nutrition
however each individual entrepreneur should study in depth independently aspects of
his particular business case. The author conducted a literature review and used both
quantitative and qualitative research methods to support his ideas. The first method
helped to assess the value of the problem and the second one to understand the
demand and wishes of the potential customers.
Creating your own business is a very serious and long-term work that requires a lot of
effort and time from a novice entrepreneur. The process of managing a business
poses many questions and challenges to entrepreneurs. However, by taking several
main steps beforehand and carefully planning and preparing for the launch and
growth of the business, an entrepreneur can set the foundation for a successful and
profitable small business. These and other findings are also reflected in this thesis
study.
Keywords
Business planning, digital marketing, e-commerce, healthy diet, online store
Contents
1 Introduction ..................................................................................................................... 1
1.1 Research background ........................................................................................... 1
1.2 Research questions ............................................................................................... 2
1.3 Theoretical framework ........................................................................................... 3
2 Theoretical basis behind healthy online store ............................................................... 4
2.1 Proper nutrition and healthy diet ........................................................................... 4
2.2 Online store of healthy food products ................................................................... 6
2.2.1 The concept of online store ............................................................................... 6
2.2.2 Legislative features of online store in Finland ................................................... 8
2.2.3 Website security & Consumer privacy ............................................................ 10
3 Target audience ........................................................................................................... 12
3.1 Customer profile .................................................................................................. 12
3.2 Empirical research ............................................................................................... 13
3.2.1 Creating a survey ............................................................................................ 14
3.2.2 Data collection ................................................................................................. 14
4 Channels of promotion ................................................................................................. 15
4.1 Marketing strategy ............................................................................................... 16
4.1.1 Search engine optimization ............................................................................. 16
4.1.2 Targeted advertising ........................................................................................ 18
4.1.3 Cost Per Action (CPA) networks ..................................................................... 21
4.1.4 Influencer marketing ........................................................................................ 23
4.1.5 Email marketing ............................................................................................... 25
4.2 Optimizing marketing ........................................................................................... 26
4.3 Product innovation ............................................................................................... 28
5 External and internal environments analyses .............................................................. 31
5.1 Macro environment analysis................................................................................ 31
5.2 Micro environment analysis ................................................................................. 33
5.3 SWOT analysis .................................................................................................... 35
6 Planning and calculations ............................................................................................ 36
6.1 Organizational plan.............................................................................................. 36
6.2 Production plan .................................................................................................... 38
6.3 Financial plan....................................................................................................... 41
6.4 Sales market assessment & Possible risks ........................................................ 45
7 Conclusion .................................................................................................................... 47
7.1 Answers to the research questions ..................................................................... 47
7.1.1 Main research question ................................................................................... 47
7.1.2 First sub-research question ............................................................................. 48
7.1.3 Second sub-research question ....................................................................... 49
7.2 Validity and reliability ........................................................................................... 50
7.3 Suggestions for the further research ................................................................... 51
References .......................................................................................................................... 52
Appendices
Appendix 1. Survey
Appendix 2. Survey responses

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1 Introduction
1.1 Research background
Entrepreneurial activity not only requires significant financial and time investments, but also
involves the ability of the organizer to think through each next action, calculate possible
future costs, find the most efficient methods of using resources, and competently organize
the work of the company. That is why opening your own company involves deep and serious
preparation.
A business plan is created with the aim of the most competent implementation of the project
and the most successful management in the future. Thus, the entrepreneur tries to
determine in advance for himself/herself the profit and possible costs, which they will try to
minimize by applying various strategies.
It is important to devote considerable time to the preparation of a business plan, since its
existence will greatly facilitate the launch of the company and its further functioning.
Moreover, it can be used to plan the scaling of the company, taking into account estimated
costs and estimated income in the future.
In this thesis, the sphere of a healthy lifestyle, which includes regular exercise, proper
nutrition, and a competent daily routine will be considered from the point of view of business
planning. Healthy lifestyle is a hot topic not only for residents of post-industrial countries
such as Germany, the USA, Canada, but also Finland. Fitness marathons are often held in
Finland, such as a triathlon is held annually in Lahti in the summer called IRONMAN (Niemi
2022). At any time of the year, everyone can go in for sports right on the street. Moreover,
many purposefully go to markets and fairs, country farms to purchase healthy products to
support their sporty lifestyle.
During the COVID-19 pandemic, many businesses have moved to online stores with the
possibility of delivery in order not to lose income and customers, but at the same time
operate in compliance with new legislation. The same trend can be seen in the sale of
healthy food products. Many restaurants and food stores switched to online delivery, which
made goods cheaper and more convenient for consumers through delivery. This entailed
the opening of new online stores and farms. Often, stores offer not just individual products,
but ready-made breakfasts, lunches and dinners. At the same time, stores can offer a set
with the calorie content that customers need in order to keep fit. However, in Finland, there
are not many options for delivering of proper and high-quality food (LaFleur 2020). So, idea
of online store of proper nutrition should be considered as relevant.
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1.2 Research questions
Every article, essay, or thesis should begin with the choice of a research question. A
research question is a precise, detailed question about a problem or controversy that can
be challenged, explored, and analysed to yield useful new information (McCombes 2022).
The question “What can be done for creating a successful online business plan of
healthy food delivery in Finland?” is best represent the aim of the thesis topic.
Nevertheless, to better determine the main research question the author uses the following
sub-research questions:
• What data can be extract from analyses of the market segment and the
potential customer and how these data are applied to create a model of the
business?
• What factors are crucial for improving the business, its promoting and
increasing possible income on the stage of financial calculations?
The above questions are related to the development of business plan for introducing healthy
prepared foods to the Finnish market. Along with the main question, the first sub-question
will help to study the market and extract important information about the potential consumer,
the finished product segment and other potentially important data. Market analysis is vital
before starting any type of business. This information will help to make the necessary plan
and choose the right strategy for bringing any business idea to market. The second sub-
question allows to more carefully analyse the incoming data necessary to achieve the goals
in the segment being developed. To compete in a rapidly growing market, an enterprise
should pay attention to a number of features in e-commerce profits that may seem
insignificant in the beginning. Answer to the second sub-question helps to find a way to
increase sales in the online store during current market instability and growing competition.
This data is important to develop long-term prospects for the organization with current goals
and, accordingly, to establish the sufficiency of existing and potential resources to work in
the target market.
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1.3 Theoretical framework
A theoretical framework is a set of ideas and concepts that provides the basis for
understanding a particular phenomenon. In a thesis, a theoretical framework provides the
foundation for the research problem and guides the research design, methodology, and
analysis. The theoretical framework defines the key concepts, theories, and models that will
be used to explain research problems and find answers to these questions. It provides a
conceptual framework for organizing and understanding the data that will be collected and
analysed. The theoretical framework should be carefully developed and reviewed to ensure
that it is relevant, up-to-date, and consistent with the research problem and objectives. This
is the theory-building process. Unfortunately, despite the fact that theory serves as the
foundation for all research, many grant applications lack a strong theoretical justification.
Without being formally articulated, the theoretical framework frequently remains implicit in
the proposal. The framework should also be reviewed for gaps or limitations that may impact
the ability to achieve the research objectives (Egbert 2019, 66 – 71).
Figure 1. Theoretical framework of business planning
A theoretical framework (Figure 1) has been created to consolidate the theoretical and
empirical sections of the research. It provides a conceptual framework for the research and
helps guide the analysis and interpretation of data. The main goal of this entire study is to
build a successful business plan. Specifically, the author should point out theoretical
modules, such as the factors that effects on business planning, the role and importance of
each step of planning from analysing the market to financial calculations, and the primary
standards used to develop a business of healthy food delivery in order to create a compete
perceptive of how the business runs and makes profits. Finally, this theoretical basis plays
a critical role in investigation and creating a business plan for an online store of proper
nutrition in the segment of a healthy diet lifestyle.
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2 Theoretical basis behind healthy online store
2.1 Proper nutrition and healthy diet
Proper nutrition, which benefits the human body, has always been valued, but special
emphasis has recently been placed on its popularization due to the increasing spread of
fast food, semi-finished products, products with substitutes, which negatively affect not only
the physical form of a person, but also his health. Moreover, most people consider their
health as a top priority in the conditions of environmental pollution and constant stress, in
which residents of large cities are to a greater extent. The risks of consequences from
factors that negatively affect human health can be minimized by maintaining a healthy
lifestyle, including the consumption of wholesome food. Many try to stick to a diet in order
to keep themselves in good physical shape (Lean 2015).
Nakamura T. (2021, 29 – 60) assumed that the food consumed by people should not only
satisfy their need for energy, but also benefit their body, carry out its prevention in order to
avoid the development of serious diseases that reduce life expectancy. At the same time,
according to statistics, from 30 to 50% of diseases such as oncology, diabetes mellitus,
disorders in the cardiovascular system, etc., occur due to improper diet, which harms the
consumer's body.
Figure 2. Healthy eating plate (Harvard University 2015)

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A healthy diet refers to natural food obtained without the addition of harmful substances. A
concept of healthy eating plate is represented above (Figure 2). First of all, according to
WHO (2020), these are fresh fruits and vegetables, nuts, legume and whole grains. At the
same time, one should refrain from starchy foods such as potatoes. Proper nutrition also
includes meat products consumed in accordance with the norms for each age. Healthier
food can be made with the help of biologically active additives (BAA), which are used to
eliminate the deficiency of certain substances in the diet, but are not medicines. A healthy
diet involves minimizing sugar intake, both added to various foods and drinks, and naturally
present in honey, fruit juices. In terms of fats, WHO recommends refraining from consuming
saturated fats, which are found in fatty meat, cheese, cream, butter, and eating unsaturated
fats - nuts, sunflower and olive oils, fish, avocados.
According to WHO data, a person should consume at least 400 grams of fruits and
vegetables daily. Sugar in the daily diet should be no more than 50 grams. Not more than
30% of the total amount of energy consumed can be fats, while less than 10% of this amount
should be saturated, that is, fats that are more harmful to the human body, and less than
1% are trans fats. WHO also draws attention to the daily amount of salt consumed.
According to recommendations, it should be no more than 5 grams which is about one
teaspoon (WHO 2020).
In Finland the special governmental authority called Ruokavirasto (2021) promotes the
spread of a healthy diet among citizens through social advertising in cities and setting
standards for food sold. Manufacturers of goods themselves are also interested in
spreading the idea of healthy and proper nutrition, since, according to statistics, most
citizens trust the words “eco”, “natural”, “made by hand”, etc., written on food products
(Taufique, Polonsky & Vocino 2017, 50 – 53).
Thus, the topic of healthy nutrition is very relevant today and the healthy diet lifestyle is
being developed by both citizens themselves and states and organizations, especially the
WHO. There are recommendations for essential foods and foods that should be avoided so
as not to harm one’s health and fitness.
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2.2 Online store of healthy food products
2.2.1 The concept of online store
Before considering the online food sales industry, it is necessary to take a closer look at the
term "online store" and what it includes.
According to Fessenden (2015), an online store is a type of e-commerce website that allows
consumers to purchase goods and services from a business over the internet. This includes
a wide variety of business models, such as online retail stores, online marketplaces, and
online auction sites. Online stores typically include a variety of features to make the
shopping experience convenient and easy for customers. These features may include a
search bar to help customers find specific products, a shopping cart to allow customers to
add multiple items to their order, and a checkout process to facilitate the payment and
delivery of the order. Many online stores also offer options for customers to choose their
preferred payment method and delivery options. Thus, an online store is a copy of an offline
store, respectively, it should have a clear structure for the location of goods, division into
sections and menus for easier site navigation, i.e., the site of such a store should be
dynamic and well thought out in terms of front-end and back-end development of the portal.
The visitor must also clearly understand how he can pay for the purchase and receive it.
On the other hand, e-commerce also allows businesses to reach a global customer base.
There are several key benefits to e-commerce for both businesses and consumers. Mainly,
e-commerce grants companies to range a much broader marketplace than they would be
able to with a traditional brick-and-mortar store. It also allows them to operate with a lower
overhead, as they do not need to maintain a physical store and can automate many of their
business processes. E-commerce allows business structures to gather information about
own customers, and in further these data can be used for improving services and products
(Kazinik 2022).
There are different business models that e-commerce companies use such as Business to
Consumer (B2C) which is direct sales to consumer, Business to Business (B2B) which is
sales between businesses, Consumer to Consumer (C2C) which is peer-to-peer, Consumer
to Business (C2B) which is reverse auction etc.
Thus, according to the "E-Commerce Scheme" criterion, healthy food online stores are
more related to the B2C sphere, i.e., aimed at the consumer - an individual. Depending on
the type of trade, this type of online store will refer to retail stores. Moreover, there are other
classifications of e-commerce represented below (Figure 3).
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Figure 3. Types of Ecommerce (Forbes 2022)
Since opening a store on the Internet saves money on building and maintaining an offline
store, on providing the necessary number of staff there, the number of online stores, as well
as their popularity, is currently growing. Accordingly, competition between sellers increases,
which affects how they position their products. On the pages of an Internet portal selling
any product, there should not be unnecessary information that distracts the visitor from the
most important thing - the menu, prices, advertising promotions, sweepstakes and special
offers.
Thus, an online store is an online version of a store that performs both the functions of
selling goods and marketing functions. It must be well organized in order to increase its
awareness among potential customers and remain competitive in relation to other online
stores. Moreover, in perspective E-commerce continues to grow in popularity and is
expected to continue to be a major force in retail in the years to come.
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2.2.2 Legislative features of online store in Finland
According to The Finnish Patent and Registration Office (2020), there are several types of
businesses that operate in Finland. Some of the most common types include:
1. Small and medium-sized enterprises (SMEs): These category includes productions

having not more than 250 employees and their turnover during the year is not over
than 500 million euros. SMEs make up a large portion of the Finnish economy and
include a wide range of industries, such as retail, manufacturing, and services.
2. Large corporations: Finland is home to several large corporations that operate in

various industries, such as telecommunications, forestry, and technology. These
companies often have a global presence and employ thousands of people in
Finland.
3. Start-ups: The Finnish startup ecosystem is relatively strong and growing, with a
thriving community of entrepreneurs and investors. Some of the most successful
startups in Finland have come from the technology sector, such as gaming and
software development.
4. Public sector businesses: Finland have also large public sector companies such as
one of the largest multidisciplinary research organization in Northern Europe called
VTT Technical Research Centre of Finland, Finnish Meteorological Institute, which
is the government organization responsible for providing weather services and
more.
5. Cooperatives: Cooperative businesses, where the members are both the owners
and the customers, are also common in Finland. These types of businesses are
mainly found in the agriculture and retail sectors.
6. Non-profit organizations: there are also many non-profit organizations in Finland that
have a significant impact on the country's social and economic development, such
as associations and foundations.
Overall, the Finnish economy is diverse and includes a mix of small and large businesses,
as well as businesses in various stages of growth.
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Regarding to online trading activities, there are three main options for legal registration:
registration as a self-employed, individual entrepreneur (toiminimi) or opening a limited
liability company (Oy). Since an online health food store involves a large staff, it is most
optimal for its organization to open a toiminimi or Oy.
The Finnish Patent and Registration Office provides instructions on how to officially register
own company. On the web page of The Finnish Patent and Registration Office, the
entrepreneur has the option to download a form to fill out on paper or follow with online
registration. Depending on the type of company, an entrepreneur may use form Y1 (YTJ
2022a) for a limited company and cooperative, Y2 (YTJ 2022b) for general and limited
partnerships, and Y3 (YTJ 2022c) for a sole trader (Patent and Registration Office of Finland
2020).
The relationship between online stores and individual consumers is governed by the
Consumer Protection Act (2005, 10). First, if a product is sold according to a sample or
description, it must match it. This is very important from a perspective of the correct design
of product cards on a website of the online store. Secondly, the seller must notify the
consumer about the expiration date of the goods, which is especially important for activities
in the field of food sales. Thirdly, the consumer has the right to information about the
manufacturer of the product, its nutritional value, composition and properties, and the
payment procedure in case of remote sale of products. In case of failure to provide such
information or provision of false information, the seller bears property liability, and he may
also be obliged to compensate the moral damage caused to the consumer in connection
with this violation.
Thus, an individual entrepreneur (toiminimi) or limited liability company (Oy) is more suitable
for organizing an online store in the field of proper nutrition. The most beneficial is the
simplified taxation system. From a perspective of legislation, there is an importance to
respect the rights of consumers, provide them with all required and essential information
about the product so it corresponds to declared description.
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2.2.3 Website security & Consumer privacy
For a website a well-chosen name makes a good impression on the visitor, is easy to
remember and increases brand awareness. The simpler the domain name, the higher the
likelihood that it will be entered into the search, which means that it will come to your site
right away. The domain affects the promotion a site and business overall. This applies to
both the domain name itself and the competent choice of the domain zone. So, the brand
name and keywords in the title affect the rating of the site in the search results. Changing
the domain in the future will be a problem. Over time, domains gain reputation in search
engines, which affects their ranking in search results. Therefore, it is better to choose a
domain correctly right away than to change it in the future if the need arises (Anderson
2022).
Since the business is built on the market of proper nutrition, it is essential to pay even more
consideration to the protection of personal data of customers. a person's diet may even be
more closely related to a medical parameter than to a personal one, so its leakage can have
a greater impact on the psychological and moral state of the client. As author’s personal
experience, there is an Online Banking system running in Finland which is connect all
person’s data including social security number, address and complies with security
requirements. However, this is governmental project working only with Finnish banks and
this system cannot be used for commercial businesses (Digital and Population Data
Services Agency 2022). For e-commerce author suggests to follow up General Data
Protection Regulation (GDPR) and Open Web Application Security Project (OWASP).
Firstly, the GDPR is a regulation that aims to improve and harmonize the protection of
personal data across the European Union. It was adopted on April 27, 2016, but due to the
fact that it takes a lot of time to prepare, it entered into force only today, May 25, 2018. The
GDPR is mandatory in all 28 countries of the European Union. Absolutely all organizations
and companies, be it a social network, a bank, a university or an online store that collect
personal data, are required to comply with the requirements of the GDPR. At the same time,
the user can revoke the right to receive his personal data at any time.
The GDPR presents specific rights for soles, counting the freedom to approach their
particular data, a right to have their personal information erased, and the right to entity to a
processing of own personal data. The regulation also obliges all organizations that collect
data to comply with a number of regulations, such as obtaining explicit consent to the
collection of personal data, and their storage, as well as comply with the necessary technical
and organizational tool for the protection of personal data (GDPR 2022).
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Failure to comply with the regulation can lead to serious consequences, such as fines of up
to 20 million euros. Regardless of whether a business itself is located territorially within the
EU or outside it, it will still be subject to the regulation if the organization processes personal
data of individuals in the EU (GDPR 2022).
Secondly, for online store website security requirements author suggests OWASP solution.
OWASP is a nonprofit organization that works to improve the security of software. OWASP
produces articles on web application security, as well as documentation, tools, and
technologies. Moreover, OWASP community provides rankings and recommendations for
mitigating the most important web application security threats.
For the case of healthy diet online store audit logging could be one of the security walls. It
allows one to be aware of any suspicious changes to website. The audit log is a document
that records all events on a site. It allows to detect any anomalies so that online store runner
can contact a specialist in time to confirm or deny account hacking (OWASP 2022).
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3 Target audience
3.1 Customer profile
According to Reyes (2020, 3 – 5), a customer profile template is a tool used by businesses
to create a detailed and accurate representation of their ideal customer. It helps businesses
to understand their target audience, their needs, and their preferences in order to better
tailor their products and services to them. Customer profiles are often created through
market research, which can involve collecting data through surveys, focus groups, and other
methods. Some common elements of a customer profile represented on a figure 4 below.
Figure 4. Customer Profile Template (Kozielska 2022)
A customer profile template can be used for the online store of proper nutrition as it allows
them to create targeted marketing campaigns and to tailor services to more effectively
address the requirements of their ideal customer. It can also help the business to identify
new customer segments that they may not have considered before.
Healthy food online stores are focused on the B2C sector, i.e., business consumer.
Consumers are characterized by the desire to solve their problems "here and now", which
is why the online store should provide a ready-made solution to their problem (lack of time
to select and buy healthy food to keep themselves in good shape). It is important that the
order can be processed quickly.
The target audience of such stores consists of wealthy people with a high stable income,
who work hard and work out in the gym at the same time or equip a place for training at
home. Therefore, they can afford food packages that are more expensive than store-bought,
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self-cooked foods. Most of the consumers in this category are young people (from 17 to 35
years old).
In addition to people who go in for sports and consume healthy food in order to maintain
their figure, there are also consumers of healthy food who need to do this for health reasons
(for example, they have problems with the gastrointestinal tract, cardiovascular system,
etc.). A special menu should also be developed for them, or it should be possible to change
the diet and composition of dishes. The age of the same category is on average over 50
years.
For the first category of consumers, the most relevant option will be the opportunity to
consult with a dietitian coach, which many online stores use in terms of marketing.
Most consumers are characterized by search consumer behaviour, i.e., they try to identify
differences between brands. That is why it is important to talk about your uniqueness and
periodically hold promotions and organize loyalty programs. Some consumers refer to
complex consumer behaviour, i.e., they must first be convinced of the need to eat right and
in the quality of their products, then tell them about their products, and then they will buy it.
Consumers have a good attitude towards proper nutrition, followed from the active
campaigns of various brands and bloggers, as well as the state promoting a healthy lifestyle.
3.2 Empirical research
Survey was chosen as the method for empirical research in the thesis. According to Ball
(2019, 7 – 10), survey is a method of gathering data by asking questions to a large number
of individuals. Surveys are a popular method of empirical research because they can
provide a broad understanding of attitudes, opinions, and behaviors.
The research question is defined by author for the survey is to collect enough data to make
a customer profile for the online shop of proper nutrition. By defining a clear and concise
research question is the goal to answer through the survey.
With empirical research using surveys, valuable information is gathered about attitudes,
opinions, and behaviors that can inform in decision-making for creating a successful
business plan. The importance in this empirical research is to follow a rigorous process to
ensure the validity and reliability of the results.
The survey is the part of quantitative methods involves the collection and analysis of
numerical data to answer research questions or test hypotheses. Quantitative methods can
provide a more objective and systematic approach to data collection and analysis, allowing
for the testing of specific hypotheses and the drawing of generalizable conclusions.
14
However, it is important to contemplate the limitations of quantitative methods and to use a

multi-method approach that includes qualitative methods, when appropriate, to gain a more
complete understanding of the research topic (Bruce 2017, 56 – 58).
3.2.1 Creating a survey
Creating a survey to gather information about customers' profile is a great way to better
understand target market and tailor marketing efforts accordingly. Author chooses Google
Forms as a platform for creating a survey for the thesis. Google Forms is a free online tool
developed by Google that allows to create and administer surveys, quizzes, and other
forms.
By creating a customer profile survey, the author seeks to gain valuable insights into target
market that helps to make informed decisions about marketing strategy. Survey is kept short
and focused, to make sure that the questions are clear and easy to understand.
The survey can be found in appendices part of the thesis as Appendix 1.
The survey was launched 28 January 2023 on several groups on the Facebook related to
sports, gym, healthy lifestyle and proper nutrition but geographically located inside Finland.
Thus, the author laid down the criterion in advance that majority of respondents are
residents of Finland, where the online shop is assumed to run.
3.2.2 Data collection
Survey analysis is the process of examining, interpreting, and drawing meaningful insights
from survey data. The data gained from the survey helps the author to understand potential
customers. This one is an important aspect of market research and can be crucial in
determining the success of a business. Gain a deeper understanding of your potential
customers, which can inform product development, marketing strategies, and overall
business decisions. Conducting a survey analysis can help to better understand data and
draw insights that can inform decision making and drive business success.
During 16 days from the launch of the survey it collected enough responses in number of
100 people on the date of 12 February 2023. The data collected from the empirical research
are analysed, developed and elaborated further in the next sections of the thesis.
The survey responses can be found in appendices part of the thesis as Appendix 2.
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4 Channels of promotion
According to Schlegelmilch (2020, 62 – 63), there are several channels through which a
product or service can be promoted, including:
1. Advertising: Standard ads as television, radio, newspapers, magazines.
2. Public Relations: Press releases, media coverage, and specific events.
3. Sales Promotion: This can include discounts, coupons, and contests.
4. Personal Selling: The type involves face-to-face or telephone conversations with

potential customers.
5. Direct Marketing: This can include direct mail, email marketing, and telemarketing.
6. Digital Marketing: Common and important components are Search Engine

Optimization (SEO), social media marketing, and content marketing.
7. Influencer Marketing: The type can include partnering with social media influencers
to promote a product or service.
8. Trade Show and Event Marketing: This can include exhibiting at trade shows and
hosting or participating in events to promote a product or service.
The list above shows some examples; however, the most effective channels will vary
depending on the product or service and the target audience. Since the main activity and
interaction with the client of online stores is concentrated on the Internet, it is important to
have the most complete picture of promotion channels there.
Briefly, first option the author suggests to use is SEO promotion, which consists in using
keywords, that help the page drop out more often in the search engine for certain queries.
Secondly, there is a targeted advertising, i.e., advertising that is aimed at people whose
interests include the product being sold. It can be given both in display network (such as
Google), and in social networks. In order to advertise on a social network, which will not
only take a part of the budget, but also bring new customers, it is also necessary to hire a
specialist with experience in this field.
Thirdly, there are CPA networks where the advertiser pays only for certain user actions.
There is also an option to order ads from bloggers who talk about sports and healthy
nutrition, but such risks as influencers’ responsibility and honorarium may be considered as
repulsing.
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Lastly, the one of the standard ways of promotion is using email marketing, especially to
the people who are already somehow connected with the online store. It is important to
periodically remind them of events, discounts, promotions and new products. Thus, a
person who has already once ordered a product for himself or for his relative will not forget
about the existence of the brand.
However, the details of the author’s suggestions are represented in the following
subsection.
4.1 Marketing strategy
4.1.1 Search engine optimization
According to Clay (2015), search engine optimization (SEO) is the list of actions for
enhancing a web page to boost its discoverability and position in search engine results
pages (SERPs). After optimizing a website's structure and content, SEO improves a website
appear higher in the search results for relevant queries, which can drive more organic traffic
to the site.
The final objective of SEO is to attract more targeted traffic to a website, which can lead to
increased visibility, engagement, leads, and sales. SEO can also help build brand
awareness and credibility, as websites that appear higher in the search results are often
seen as more authoritative and trustworthy.
To achieve its goals, SEO involves a wide range of different methods, including keyword
research, on-page optimization, link building, content creation, and more. The specific
tactics used in SEO can vary depending on the goals of the website and the preferences of
the SEO practitioner.
A search engine is a tool or platform that allows users to search for information, content, or
resources on the Internet. It works by indexing billions of web pages and other content, and
then using algorithms to match the user's query with relevant information. Search engines
play a critical role in helping users access the vast amount of information on the Internet.
They help users find relevant information quickly and efficiently, and are an essential tool
for individuals, businesses, and organizations.
SEO involves both on-page optimization modifying the content and structure of a website
to increase its search engine compatibility, and off-page optimization, such as building high-
quality backlinks from other reputable websites. Backlinks are links from other websites that
lead back to your website. Search engines view backlinks as a vote of confidence in your
17
website and use them as a ranking factor in their algorithms (Enge, Spencer & Stricchiola
2015, 11 – 17).
There are a variety of SEO approaches that can be employed to enhance a website's
ranking in search engine results, including:
1. Keyword research: Identifying relevant keywords and phrases to target in the

content of a website.
2. On-page optimization: Ensuring that the website's structure and technical elements,
such as its URL, header tags, and meta descriptions, are optimized for search
engines.
3. Off-page optimization: Building backlinks to a website or web page from other

websites, as well as optimizing the website's social media presence.
4. Technical optimization: Ensuring that the website is properly indexed by search

engines, has a sitemap, and is free of broken links or other technical issues.
5. Content Marketing: Creating valuable and relevant content that can be shared
across the web and attract backlinks to your site.
6. Local SEO: Optimizing your website for local search queries, such as by including
your business's name, address, and phone number (NAP) on your website and in
online directories.
7. Tracking and analysis: Monitoring the website's performance in search engines and
analyzing data to make continuous improvements to the SEO strategy.
18
Figure 5. Types of SEO (WordStream 2021)
There are subtypes of SEO also represented in the figure 5 above. SEO is a long-term
strategy, and it can take several months to see significant improvements in search engine
rankings, but the rewards can be substantial, including increased organic traffic, improved
brand visibility, and higher engagement with potential customers. It's also important to keep
in mind that SEO best practices are constantly changing as search engines update their
algorithms.
4.1.2 Targeted advertising
Targeted advertising is a form of advertising that is specifically tailored to reach a specific

audience or group of people. This is achieved by using data and analytics to identify the
characteristics of the target audience and then delivering ads to them through different
channels (Smith 2014, 16 – 18).
Targeted advertising allows advertisers to reach their desired audience more effectively and
efficiently, increasing the chances of the advertisement being seen by someone who is
interested in the product or service being advertised (Boguslavskaya 2016, 3 – 4).
Targeted advertising can be done using various methods, including:
• Demographic targeting: specific age groups, genders, income levels, and other
demographic characteristics.
19
• Behavioral targeting: ads to people based on their online behavior, such as their
search history and the websites they visit.
• Geographic targeting: location, such as their country, region, or city.
• Interest targeting: ads to people based on their interests, such as sports, travel, or
technology.
• Retargeting: ads to people who have previously interacted with a business or

website, by placing cookies on their browsers.
Figure 6. Appendix 2. Survey responses 1/13
In case of this thesis in demographic targeting the advertisement should be applied to young
people between 26 and 35 and to full-time workers in income criteria. As majority of survey
responses shows these in figures 6 and 7 above.
20
In interest targeting the advertisement should be applied to people who careful pay attention
to healthy food and do sport activities as their interest. Figures 8 and 9 below represents
that more than half of survey respondents are into these.
Targeted advertising can be more effective than other forms of advertising because it
reaches a more specific and relevant audience, increasing the chances of generating a
desired response, such as a sale or lead. It also allows businesses to be more efficient with
their advertising budget by only reaching the individuals who are most likely to take an
interest.
However, it is essential to remember or bear in mind that targeted advertising needs to be

done in a way that respects users' privacy and complies with data protection regulations
such as GDPR, CCPA, and others.
21
4.1.3 Cost Per Action (CPA) networks
CPA networks, also known as Cost Per Action networks, are online advertising networks
that connect advertisers with publishers to promote and sell products or services. In a CPA
network, advertisers only pay when a certain activity is taken by a user, for instance clicking
on specific buttons, filling a form, purchasing a product, or downloading an app. The
publisher earns a commission for each successful lead or sale generated through their
referral. This is in contrast to other online advertising models, such as Cost Per Impression
(CPM) or Cost Per Click (CPC), where advertisers pay based on the quantity of impressions
or clicks on their ads (Moody 2022, 29).
CPA networks typically work by offering advertisers a range of offers, such as free trials,
downloads, or purchases, and publishers promote these offers to their audiences. When a
user takes the desired action, the advertiser pays the publisher a commission for the lead
or sale. This model can be beneficial for both advertisers and publishers, as advertisers
only pay for actual results and publishers receive a commission for the leads or sales they
generate (Reilly 2020, 18 – 20).
A figure 10 created by the author below shows how CPA network works.
Figure 10. How CPA network works

22
According to survey responses in figure 11 above more than 80% of respondents use food
delivery at least 1-2 times in a week. So, author suggests to use food delivery platforms for
CPA network such as Foodora and Wolt which are already successfully running their
businesses in Finland. A figure 12 below shows how flowers shop and pet supplies are
implemented in Foodora and Wolt apps on mobile phones. Even despite the fact that these
2 platforms were initially designed and launched as food delivery service from restaurants
to the customers.
Image 1. CPA network representation on such platforms as Foodora and Wolt (2023)
23
CPA networks can be a valuable tool for businesses and individuals looking to promote
products or services, drive conversions and increase revenue, as they allow advertisers to
reach highly targeted audiences and only pay for results. Advertisers can use CPA networks
to acquire leads or customers at a lower cost than traditional advertising, while publishers
are given an opportunity to use them as a source of passive income by promoting offers
and driving leads and sales (Ekanem 2016, 51 – 54).
However, CPA networks also have some limitations as well. They require a significant
amount of traffic to be effective, and the conversion rate can be low. Additionally, the offers
available on CPA networks are often low-paying and not suitable for all niches.
4.1.4 Influencer marketing
Influencer marketing is a marketing approach that concentrates on utilizing the influence of

social media personalities to endorse products or services, or brands to their followers. An
influencer is a person who has a significant and active audience on social media platforms,
for instance so popular like Instagram, YouTube, TikTok, or Twitter.
According to the survey responses on a figure 12 above one way or another, the majority
of respondents use some kind of social network, so this type of marketing can be very
effective for launching an online store of proper nutrition. Judging by the fact that according
to the answers YouTube is the leader of users, the main emphasis in advertising should be
given to this particular video hosting.
24
According to Levin (2020, 27), influencer marketing works by leveraging the reach,
credibility, and trust that influencers have built with their audience to drive awareness and
interest in a brand. Brands partner with influencers to create content, such as sponsored
posts, product reviews, or brand mentions, that promotes their products or services to the
influencer's followers. This type of marketing can be effective because influencers have a
unique relationship with their subscribers and followers and can promote advertised stuff in
a such way that feels authentic and trustworthy.
A figure 13 created by the author below shows how influencer marketing works.
Figure 13. How influencer marketing works
Influencer marketing can be employed to achieve various objectives such as enhancing

brand recognition, directing traffic to a website, generating sales, and establishing a brand's
image. However, it's important to choose influencers who align with company’s brand name
and have a following that compeers the target audience, to guarantee that the marketing
efforts are effective.
25
Overall, influencer marketing can be an advantageous technique for companies seeking to

expand their reach to fresh audiences and increase conversions. It allows businesses to
understand the impact of social media influencers in promoting their products and services.
Additionally, as influencer marketing becomes more popular, it's becoming more
challenging for businesses to find authentic and niche specific influencers (Yesiloglu 2020,
56 – 57).
4.1.5 Email marketing
Email marketing is a type of direct digital marketing that mostly based on sending emails to
a targeted audience with the goal of promoting a product, service, or brand. It can be used
to build relationships with customers, drive traffic to a website, generate sales, or build brand
awareness (Hignett 2017, 12 – 14).
In this kind of marketing, businesses send emails to their subscribers, either as part of an
email newsletter or as a standalone promotional email. The content of the email may include
promotional messages, updates on new products or services, or information on upcoming
events.
According to White (2017, 97 – 98), email marketing is effective because it allows

businesses to reach their target audience directly and in a personalized way. Companies
can divide their email list into different groups according to different criteria such as
purchase behavior, interests, and location, and then send specific messages to each
segment. This personalization can help increase engagement and conversions.
Thus, it is a direct, affordable, and individualized approach for companies to reach their
intended audience and accomplish their marketing objectives. It is also highly measurable,
allowing businesses to monitor the effectiveness of their campaigns and adjust their
strategy accordingly.
Overall, email marketing is a viral part of a well-rounded digital marketing strategy, as it

allows enterprises to stay in touch with their customers, promote their products and ser-
vices, and drive revenue (Heilig 2020, 78 – 80).
However, it's important to ensure that the email list is composed of individuals who have
opted-in to receive communications, and to comply with privacy and spam laws.
Additionally, to make the most of email marketing campaigns, it's important to segment the
audience, personalize messages, and test different strategies.
26
4.2 Optimizing marketing
After setting up the marketing strategy on the first stage, author suggests to consider about
optimizing marketing further in order to increase income and revenue of the business later
on.
According to Goldfayn (2015, 67 – 69), there are several strategies businesses can use to
increase their income:
• Increase sales: The most obvious way to increase business income is to increase
sales. This can be achieved by growing the customer base, boosting purchase
frequency, or raising the average transaction amount.
• Raise prices: Businesses can also increase their income by raising prices on their
products or services. However, it's important to consider the impact of price
increases on customer demand and to ensure that prices remain competitive.
• Introduce new products or services: Businesses can also increase their income by
introducing new products or services that appeal to their target market. This can be
an effective way to expand the customer base and increase sales.
• Optimize marketing: By focusing on the most effective channels for customer

acquisition and retention, businesses can increase the return on investment (ROI)
on their marketing spend and maximize their revenue.
• Cost Control: Careful management of expenses, efficient use of resources, and

reducing waste can help to increase profit margins and boost the bottom line.
• Diversify Revenue Streams: By diversifying the income sources and not relying on
a single one, businesses can reduce their risk and increase stability.
• Leverage Technology: Utilizing technology can help to automate repetitive tasks,

reduce costs, and increase efficiency, and also can be used to reach new audiences
and improve the customer experience.
• Innovation: Persistently looking for new ways to improve products, services, and
processes can help businesses to stay ahead of the competition and increase
revenue.
Thus, these strategies are not mutually unique and can be combined to achieve greater
results. A well-rounded and holistic approach to increasing income will likely yield the best
results.
27
So, one of good option to increase revenue of the online shop of proper nutrition on early
stages of development is optimizing marketing suggested by the author. One can see some
similarities and references with the business process management (BPM) life cycle and
optimizing marketing. For comparison, there is a figure 14 below representing the work of
business process management and reasoning about optimizing marketing further.
Figure 14. The Business Process Management Life Cycle (CheckFlow 2020)
According to Chaffey (2022, 87 – 91), optimizing marketing is the process of improving the
effectiveness and efficiency of a business's marketing efforts in order to increase revenue.
The list below represents some strategies businesses can use to optimize their marketing:
1. Identify and target the most profitable customer segments: By understanding who
their most valuable customers are, businesses can focus their marketing efforts on
reaching and engaging with those individuals.
2. Test and measure marketing efforts: By regularly testing different marketing

strategies and measuring their results, businesses can determine which tactics are
most effective and adjust their approach accordingly.
3. Use data and analytics: By using data and analytics to track customer behavior and
measure the results of marketing efforts, businesses can gain valuable insights into
what drives customer engagement and sales.
28
4. Personalize marketing: Personalizing marketing messages and offers can increase

the relevance and effectiveness of marketing efforts, resulting in higher engagement
and conversion rates.
5. Focus on customer experience: By providing a positive customer experience,

businesses can increase brand loyalty and repeat business, leading to long-term
revenue growth.
6. Utilize automation: By automating recurring duties, such as email marketing and

social media administration, companies can conserve time and resources and
concentrate on more strategic initiatives.
7. Optimize website and landing pages: By optimizing the design and content of the
website and landing pages, businesses can improve the user experience and
increase the likelihood of conversions.
8. Invest in SEO: By improving the search engine ranking of their website, businesses
can increase visibility, attract more qualified leads, and ultimately drive more
revenue.
Not only for online shop of proper nutrition but also for any kind of online and offline
business, it is always important to remember that marketing optimization is an ongoing
process and requires regular monitoring, testing, and adjustments to maintain a competitive
edge and address the evolving market trends and customers' demands.
4.3 Product innovation
Product innovation is the act of developing and introducing new or enhanced products to
the market. It involves identifying market needs and trends, conducting research and
development, and designing and testing new products. The goal of product innovation is to
create products that meet the needs of customers better than existing products, provide a
competitive advantage, and drive growth and profitability for the business (Biazzo 2021, 99
– 103).
According to Lopetcharat, Paredes & Beckley (2022, 36 – 37), product innovation can take
many forms, such as introducing a new product, improving existing products, or expanding
into new markets or product categories. It can involve developing new technologies,
improving product design or features, or finding new and innovative ways to deliver value
to customers. The list below represents some strategies businesses can use to innovate
their products:
29
1. Conduct market research: Only after researching the needs and preferences of
clients, businesses can identify opportunities for new or improved products.
2. Gather customer feedback: By regularly soliciting feedback from customers,

businesses can gain valuable insights into what they like and dislike about existing
products, and identify areas for improvement.
3. Monitor industry trends: By keeping an eye on industry trends, businesses can

identify new technologies or market shifts that present opportunities for product
innovation.
4. Encourage creativity and experimentation: By fostering a culture of creativity and

experimentation within the organization, businesses can encourage employees to
come up with new and innovative ideas.
5. Collaborate with partners: By working with other businesses, suppliers, and

customers, businesses can gain access to new ideas, technologies, and resources
that can be used to innovate their products.
6. Invest in R&D: By investing in research and development, businesses can develop

new products or improve existing ones.
7. Focus on sustainability: By incorporating sustainable practices into product design

and development, businesses can create products that meet the needs of customers
and the environment.
8. Embrace new technologies: By embracing new technologies such as artificial

intelligence, the Internet of Things (IoT), and 3D printing, businesses can create new
and innovative products that meet the needs of customers.
30
According to the survey responses on a figure 15 above, some percentage of respondents

have some kind of special diet or food preferences like vegetarian, lactose allergic, gluten
allergic, etc., so the strategy of introducing new products in the line of healthy food shop
should be considered. By introducing new products that can cover all the preferences of
potential customers, the business will be able to increase its sales and turnover. It is also
necessary to engage in competent marketing of new products and its optimization.
Product innovation is one of the critical components when creating a successful business,
as it allows enterprises to be different from their competitors offers and meet the changing
needs of their customers. It is an ongoing process that requires ongoing investment in
research and development, as well as a willingness to embrace change and take risks. So,
product innovation is not a single-time event that requires continuous experimentation,
adaptation, and learning. Additionally, businesses should also consider the cost and
feasibility of the innovation and align it with their overall strategy to avoid wasting resources
(Zhu, Von Zedtwitz & Assimakopoulos 2017, 28 – 31).
31
5 External and internal environments analyses
According to Atkinson (2022, 47 – 53), conducting an analysis of the external and internal
environment of the enterprise involves the study of environmental factors of the macro- and
microenvironment and analysis of their impact on the positive functioning of the business.
External and internal environment analysis are two critical components of a comprehensive
business analysis. It helps to determine what are the opportunities and threats of the macro
environment, what are the strengths and weaknesses of the enterprise (SWOT analysis).
5.1 Macro environment analysis
External environment analysis refers to the examination of external factors that may impact
a business, such as the economic, technological, political, legal, and social trends. This
analysis helps businesses understand the opportunities and threats present in their external
environment, and the impact they may have on their operations and growth. The most
important short-range macro-environment factors that need special attention are:
consumers, suppliers and competitors (Mathiu 2015, 44 – 45). There is a table 1 below
created by the author representing macro environment analysis.
Factor Opportunities Threats

name
Economic • Possibility of economic • Economic decline of the

development of the enterprise country
and the expansion of the scope
• Inflation
of its activities
• Income tax increase
• Contributing to the growth rate
of the market • Difficulties with supplies
• Influence on the interaction of
economies between different
countries
• The possibility of obtaining
benefits from the state
Social • Growing popularity of healthy • Refusal of the population from

nutrition in connection with the the consumption of expensive
promotion of a healthy lifestyle products due to the economic
crisis, changing preferences
Political and • Tax incentives from the • Instability of the political

legal government situation
• Support for small businesses • The negative impact of the
from the state bureaucratic system
32
• Time consuming functioning of

the judicial system
Scientific • Introduction to production of • Increase in equipment prices

and improved technologies and new
technical • Dependence on foreign
equipment
equipment and foreign
components, which will lead to
difficulties in case of supply
disruptions
International • Access to international markets • Unstable foreign economic and

events foreign policy situation
• Attracting foreign investors to
the company • Imposition of sanctions,
blocking of accounts, disruption
of supply chains
Suppliers • Discount for regular and bulk • Increase in prices for raw
orders materials
• Decrease in the price of • Violation of supply chains
products
Competitors • Weak market saturation at the • Market growth, which will entail
local level the emergence of new
competitors
• Possibility of creation of serious
competitive advantages • Expansion of existing networks
• The emergence of a substitute
product
Consumers • Growth of consumers' incomes, • Decreased income and ability

and hence the increase in their to purchase proper nutrition
purchasing power products
• Distribution of healthy nutrition
ideology among consumers
Labour • Availability of skilled labor in • Lack of necessary

market the market qualifications in the labor
market
• Availability of inexpensive labor
force on the market • High pay for specialists
Table 1. Macro environment analysis
Thus, various factors (from economic and political to scientific and technical) open up a
large number of opportunities for the enterprise related to its scaling and facilitating its
development, however, researchers also identify a number of threats that come from all
these factors. They are mainly related to the instability of the situation both in the product
market, and within the country and in the international arena.
33
5.2 Micro environment analysis
Internal environment analysis, on the other hand, refers to the examination of a company's
internal operations, resources, and capabilities. This analysis helps businesses understand
their strengths and weaknesses, and identify areas where they may need to improve or
make changes. Table 2 shows micro environment analysis of the enterprise.
Areas of activity Strengths Weaknesses
Production • High quality of manufactured • Long duration of production

and sold products and its cost from a material
point of view
• Application of modern
technologies in production • Inefficient use of enterprise
equipment
Management • Proper definition of the goals • Narrow specialization of the

and objectives of the manager
enterprise
• Low qualification and
• Competent management of unprofessionalism of the
personnel and resources manager
• Activities to improve the
competitiveness of the
company
Marketing • Determination of • Choosing an unsuccessful

communication channels promotion strategy
with consumers
• Discrepancy between the
• Development and promotion price and the
implementation of an business budget
enterprise promotion
strategy
Personnel • Pleasant atmosphere in the • Lack of proper control over

team, team cohesion personnel and analysis of
their activities
• High qualification and
extensive experience of • Lack of a system of
employees motivation and remuneration
of personnel
Finances • Availability of the necessary • Illiterate and inefficient use

material resources and of financial resources
stable sources of their
• Lack of stable sources of
receipt
their income
• Proper use of finances in
accordance with the goals of
the firm
34
Organizational • Competent structure of the • Lack of workforce

structure enterprise, professional
• Lack of qualified personnel
distribution of tasks between
employees • Failure to comply with the
established hierarchy of
• Hierarchy and channels of
personnel
interaction between
employees
Table 2. Micro environment analysis
Thus, one can conclude that in the micro environment, the enterprise may face significant
risks. Despite the advantages that certain areas of activity give, there are risks that are
associated with the illiterate use of the opportunities provided, with various staff errors and
improper control over the activities of the business.
Both external and internal environment analyses are critical for businesses to understand
their position in the market and make informed strategic decisions. The results of these
analyses can help businesses identify areas for improvement, and inform the development
of strategies for growth and success (Atkinson 2022, 73 – 74).
35
5.3 SWOT analysis
After identifying all factors that can have impact on the business of online shop of proper
nutrition and dividing them into four categories strengths (S), weaknesses (W), opportunities
(O), and threats (T) in subsections above author represents the SWOT analysis in a table
3 below. SWOT analysis is used to identify key areas of focus and to develop strategies
that can help a business or a project succeed in its environment.
Opportunities Threats
• Improving the quality of • Increasing competition
products sold in the market
• Increase in the number • Non-compliance of the
of marketing companies sold products with the
requirements of end
• Strengthening positions
users
in the sales market
Strengths The enterprise will be able Due to the high quality of

to increase its market share the products produced by
• Modern equipment
due to high quality the organization and the
• High quality products products, little competition high degree of work with
and the use of new modern the public, the company is
• Social work equipment able to overcome the threat
of the growth of new
competitors
Weaknesses To capture a large market Possible barriers to market

share, a company must share expansion:
• Still unformed identity
develop an effective
• Low consumer
• Small assortment marketing promotion
awareness
strategy. This will include:
• Unstable commodity
• Lack of corporate
prices • Creation of the
identity
corporate identity
• Increasing company
awareness
• Increasing Sales
Conversion
Table 3. SWOT analysis
As a result of the analysis of the SWOT table, one can conclude that the company has great
potential if its organization is carefully thought out and quality standards are observed in the
production of products. Undoubtedly, at the beginning of the company's activities it may not
be easy, but over time the business has potential to improve. Moreover, it is necessary to
take into account the risks associated with the instability of the situation both inside and
outside Finland.
36
6 Planning and calculations
6.1 Organizational plan
All financial calculations in section 6 are estimated values suggested by the researcher.
According to Gabaldon (2018, 24 – 25), an organizational plan in business is a document

that outlines the structure, roles, responsibilities, and communication channels of an
organization. It establishes how tasks will be assigned and how decisions will be made. An
effective organizational plan can help a business operate more efficiently and achieve its
goals by ensuring that everyone understands their role and how they fit into the larger
picture. It also helps to avoid confusion and conflicts that can arise from unclear roles and
responsibilities.
Estimated by the author, the online store of healthy food requires two chefs with a 2/2 (2
working days/2 days off) work schedule. The cook's working hours are from 09:00 to 18:00,
which is 135 working hours monthly and the salary is 1,700 euro per month. The chef's
responsibilities include:
• Assessment of the quality of the supplied products
• Preparation of diets and meals in accordance with the recommendations of

nutritionists
• Food preparation
• Laying out products in containers in accordance with the menu
• Maintaining the frequency and compliance with sanitary rules in the place where
food is prepared and laid out
To help a cook there is a need in an assistant with a schedule of 5 days a week. Two
cleaners work in the room are organised with a schedule of 2/2.
Also, the online store needs a courier of grocery sets, it is desirable that he/she owns a car
or other vehicle. At the first stage, the store needs three couriers with a salary of 1,300 euro
per month, who work organised in shifts: in the morning from 10:00 to 14:00, at lunchtime
from 14:00 to 18:00 and in the evening from 18:00 to 22:00. The duties of a courier include:
• Timely delivery of food packages to customer addresses
• Ensuring the safety of food packages during delivery, the freshness of products
37
• Acceptance of payment (in case of payment in cash) and giving receipts to

customers
The store also needs a manager. Manager's work schedule: from 09:00 to 19:00 with salary
1,800 euro monthly. The duties of a manager are following:
• Establishing contacts with product suppliers
• Hiring cooks, couriers, service personnel, searching for freelancers on the exchange
for an accountant, programmer, designer, marketer
• Controlling of the process of supplying products to the kitchen and delivering them
to consumers
• Interaction with advertising and marketing partners
• Interaction with the designer and programmer, development of technical

specifications
Financial and tax activities are handled by an accountant. He/she can be hired as a
freelancer on remote work. Estimated expenses for accountant are 400 euro monthly. Main
responsibilities:
• Forming and timely submitting a tax return to the relevant authorities
• Paying salaries to the staff of the enterprise
The designer, marketer and programmer for the design of the site, groups in social
networks, leaflets and advertising are hired through the freelance platforms and their work
is organised remotely. Payment for their services is negotiable. Expenses on organizational
plan are concluded later in a table 8 of the section 6.3.
38
6.2 Production plan
All financial calculations and prices in section 6 are estimated values suggested by the
researcher.
According to Kiran (2019, 71 – 74), a production plan in business is a document that outlines
the company's strategy for producing goods or services in order to meet customer demand
while optimizing resources such as labour, materials, and equipment. The production plan
includes details on the quantities of products to be produced, the schedule for production,
and the resources needed to complete production, including labour, machinery, and
materials. The plan is designed to ensure that the production process is efficient and cost-
effective, and that products are produced on time and to the required quality standards. A
well-developed production plan can help businesses avoid production delays, reduce
waste, and manage costs effectively, ultimately leading to increased profitability.
The business is registered as a toiminimi form suggested by the author. Opening a toiminimi
costs 60 euro. The cost of servicing the bank account of the enterprise is 20 euro monthly.
According to General Classification of Economic Activities (NOGA), the main line of
business is other retail sale not in stores, stalls or markets (4799).
The online store rents a small room for food preparation and storage. There is also a small
compartment for storing ready-made kits that are further delivered by couriers. The room is
equipped with refrigerators and stoves. The cost of renting such a room is an average of
800 euro per month, the amount of monthly utility bills such as for electricity and water is
approximately 200 euro.
An estimated list of required kitchen equipment needed to run the business and it estimated
prices is represented in a table 4 below. Average prices for goods in the Finnish market
were taken for evaluation
Kitchen equipment
# Item Quantity Price per Item Total
1 Induction hob with 4 burners 1 550€ 550€
2 Single-chamber refrigeration cabinet 3 330€ 990€
3 Freezer horizontal 1 660€ 660€
4 Dishwasher machine with 2 sections 1 580€ 580€

39
5 Exhaust hood 1 580€ 580€
6 Kitchenware set 1 150€ 150€
7 Juicer machine 1 90€ 90€
8 Meat grinder 1 160€ 160€
9 Blender 2 70€ 140€
10 Combi steamer 1 760€ 760€
11 Grater for vegetables 1 60€ 60€
12 Kitchen scale 2 20€ 40€
13 Cash register with software 1 230€ 230€
14 Grill pan 2 50€ 100€
15 Vacuum sealer machine 1 320€ 320€
16 Sous vide system 1 120€ 120€
17 Water purification system 1 120€ 120€
18 Microwave oven 1 70€ 70€
19 Kitchen cabinet pull out shelves 1 80€ 80€
20 Water heater 1 80€ 80€
21 Kitchen cutting table 2 160€ 320€
22 Kitchen rack 4 40€ 160€
23 Computer or laptop 1 600€ 600€
24 Phone 1 200€ 200€
25 Printer 1 50€ 50€
26 Thermal bags 40 10€ 400€
Total kitchen equipment 7610€
Table 4. Kitchen equipment list

40
It is also necessary to take into account the periodic costs (1 time in 1-2 months) for the
production of products. The list of periodic costs represented in a table 5 below.
Consumables
# Item Quantity Price per Item Price
1 Packaging containers 3000 0,20€ 600€
2 Stickers, small 10000 0,03€ 300€
3 Detergents 1 50€ 50€
Total consumables 950€
Table 5. Periodic costs list
Simultaneously with organizing the premises, an advertising campaign need to be

developed and launched to attract a first wave of customers. A list of the advertising
campaign costs represented in a table 6 below.
Advertising and marketing
# Item Quantity Price per Item Price
1 Targeted advertising 1 500€ 500€
2 Contextual advertising (SEO) 1 200€ 200€
3 Business cards, banners, brochures 1000 0,15€ 150€
Total advertising 850€
Table 6. Advertising campaign costs list
Expenses on advertising and marketing are concluded later in a table 8 of the section 6.3.
41
6.3 Financial plan
According to Grable, Kruger & Ford (2022, 8 – 9), a financial plan in business is a
comprehensive document that outlines a company's financial goals and strategies for
achieving those goals. It typically includes projections of revenues, expenses, and cash
flows over a specified period, usually one to five years. The financial plan may also include
financial statements such as balance sheets, bank income documents, and cash flow
statements. The purpose of a financial plan is to ensure that a company has the resources
it needs to achieve its objectives and to make informed financial decisions. A well-
developed financial plan can help a business secure funding from investors or lenders,
manage cash flow effectively, and make strategic decisions about investments, pricing, and
other financial matters.
The author suggests that basic average income per customer or per sale is 15€ and
payback period for the online store of proper nutrition launched in Finland is from 8 to 12
months. So, taking this into account estimated income plan for the first year of operation of
the online store of proper nutrition is represented in a table 7 below. CPA networks are used
during first three months to attract more customers to new brand on such popular platforms
as Foodora and Wolt for instance. But after that period of time sales through these platforms
are planned to be limited to develop own app and website service. A steady increase in the
average number of orders per day throughout the year is planned to achieve the goals of
payback period. Daily sales numbers are added to the table 7 in order to monitor the
progress of daily sales plan.
42
Income plan during first 12 months from launching
Month 1 2 3 4 5 6 7 8 9 10 11 12
Total number of 180 360 480 600 750 750 900 900 1080 1080 1200 1320
sales, pcs.
Own app
Sales amount, € 2700 5400 7200 9000 11250 11250 13500 13500 16200 16200 18000 19800
Average 6 12 16 20 25 25 30 30 36 36 40 44
number of sales
per day, pcs.
Total number of 450 550 550 750 750 750 750 750 750 750 750 750
sales, pcs.
CPA networks
Sales amount, € 6750 8250 8250 11250 11250 11250 11250 11250 11250 11250 11250 11250
Average 15 18 18 25 25 25 25 25 25 25 25 25
number of sales
per day, pcs.
Total sales amount, € 9450 13650 15450 20250 22500 22500 24750 24750 27450 27450 29250 31050
Table 7. Income plan

43
Estimated enterprise expenses are represented in a table 8 below, including:
• Products and packaging costs
• Administrative expenses
• Personnel costs
• Marketing expenses
Products and packaging costs
Item Containers Packages Products Stickers Menus Appliances

and bottles ingredients
Net price, € 1 0,20 4,50 0,20 0,05 0,10
Expenses for 180 36 810 36 9 18

month 1, €
Expenses for 360 72 1620 72 18 36

month 2, €
Expenses for 360 72 1620 72 18 36

month 3, €
Expenses for 600 120 2700 120 30 60

month 4, €
Expenses for 750 150 3375 150 37,50 75

month 5, €
Expenses for 750 150 3375 150 37,50 75

month 6, €
Expenses for 900 180 4050 180 45 90

month 7, €
Expenses for 900 180 4050 180 45 90

month 8, €
Expenses for 1080 216 4860 216 54 108

month 9, €
Expenses for 1080 216 4860 216 54 108

month 10, €
44
Expenses for 1200 240 5400 240 60 120

month 11, €
Expenses for 1320 264 5940 264 66 132

month 12, €
Average cost 6,05

per sale, €
Administrative expenses
Item Opening bank Servicing Internet and Premises Utilities

account bank account Phone rent (approximately)
Monthly 20 (one-time 20 50 800 200

expenses, € payment)
Personnel costs
Item Chefs Assistants Couriers Manager Cleaning Outsource
Monthly 3500 1600 3500 1800 500 800

expenses, €
Marketing expenses
Item Social Bloggers and Search Printed Campaign

networks and influencers engines products maintenance
contextual (Google)
advertising
Monthly 300 500 250 20 250

expenses, €
Table 8. Estimated expenses
Expenses numbers in the table 8 are directly connected from the numbers of income
planning in the table 7 before.
45
6.4 Sales market assessment & Possible risks
By type of markets, the healthy food delivery market can be attributed to a growing
consumer market. Over the past few years, the number of enterprises in this area has
significantly increased, during the covid period, the demand for online store services has
increased (LaFleur 2020). To penetrate the market, it is necessary to actively use various
advertising and marketing tools.
One of the most important risks is related to the current international situation after Russian
invasion of Ukraine on 24 February 2022, when the supply chains of various goods have
been significantly disrupted and the cost of fuel has increased, which means that supplies
have become more expensive. This can lead to unforeseen increases in the cost of
purchasing products and paying for the work of couriers who use their cars to deliver on
time. Moreover, due to the sanctions imposed on Russia, the purchase of equipment for
placing an online store may rise in price due to its shortage due to logistics disruptions
(Lavsi 2022).
The second risk is related to possible HR mistakes. Since when hiring a cook, attention is
only be paid to the documents (hygiene passport, qualifications, medical examination
results) but the degree and the competence of the cook's possession of various skills and
responsibility in the performance of the duties will be checked already in the process of
work. Accordingly, if it turns out that the employee is not professional, this will negatively
affect the functioning of the organization at first. The same risk exists in terms of couriers.
Moreover, the timeliness of delivery depends on the punctuality of the person and the
vehicle that the person uses, as the car can get stuck in a traffic jam and be delayed, which
will ruin the company's reputation in the eyes of the client.
There is a similar risk in relation to employees working remotely (accountant, IT specialist,

designer, marketer). In addition, when working with freelancers, there is a possibility that
hired employees will not complete the task or complete it incompletely. It is also necessary
to check the competence of the marketer, since the mechanisms for the competent launch
of an advertising campaign on YouTube differ from those used in other social networks,
which used to be the main platform for marketing. The IT specialist, on the other hand, must
not only competently make the website, but also periodically monitor it so that there are no
cases, for example, of non-payment of the calculator, etc. The accountant, on the other
hand, must monitor the timely payment for the services of suppliers, the work of employees
of the online store and the payment of taxes to the state.
46
A great risk is also associated with the work of a manager, since he controls the entire
process of organizing the work of an online store. A selection of an incompetent manager
is directly affecting the work and management of the entire enterprise.
There is also the risk of incorrect positioning. An online store that is just entering the market
must understand that a large number of competitors with an existing customer base are
operating simultaneously with it. That is why it is necessary to focus on the uniqueness of
products, to attract customers through new marketing channels, but at the same time not to
expect instant popularity of the online store among consumers.
Since the main activity of the store will be concentrated in the Internet, technical risks
associated with website flaws, weak security systems, etc. play an important role. In many
ways, this will depend on the competence of the IT specialist who will write the website code
script. It is also important to choose secure hosting for the site. Problems on the site that
cannot be fixed in time can lead to difficulties when ordering goods, when displaying a menu
with images. Technical risks include a sudden power outage in the room where food will be
stored, which can lead to food spoilage. Equipment failure is possible, this will slow down
the process of preparing food packages, and hence their delivery.
Enterprise should also be prepared for a temporary decrease in demand from buyers for
such goods due to various circumstances, for example, many people leave the city for a
long time in the summer, so they most likely will not need healthy food delivery. In cases of
reduced demand, it is necessary to analyze the reasons for this and try to minimize the
losses from this and restore this indicator as soon as possible.
47
7 Conclusion
7.1 Answers to the research questions
7.1.1 Main research question
The main question of this thesis study was developed and mentioned section 1.2. and
sounds as “What can be done for creating a successful online business plan of
healthy food delivery in Finland?”.
So, the researcher concludes that creating a successful online business plan for healthy
food delivery in Finland requires a comprehensive approach that takes into account the
unique characteristics of the Finnish market and the preferences of Finnish consumers. In
the table 9 below the author represents steps how to achieve this goal.
Step 1 Develop a value proposition Create the unique benefits of healthy food
products and its delivery service to consumers
in Finland. Value proposition should be based
on the needs and preferences of target market
Step 2 Conduct market research Gather data on the size of the market, the
competition, and the preferences of Finnish
consumers when it comes to healthy food
delivery
Step 3 Develop a marketing Identify the best channels for reaching the
strategy target market and develop a messaging
strategy
Step 4 Create online ordering Offer customers to navigate and get information
system and own website about menu, pricing, and delivery options
Step 5 Develop a logistics and Identifying the best suppliers for ingredients and
supply chain strategy developing a system for delivering meals to
customers in a timely and efficient manner
Table 9. Main steps for creating a successful online business plan of healthy food delivery
in Finland
48
Overall, creating a successful online business plan for healthy food delivery in Finland
requires careful planning and attention to the unique characteristics of the Finnish market.
Moreover, in addition to these 5 steps could be include developing pricing strategy, ensuring
regulatory compliance, developing financial plans and etc. so entrepreneur can increase
chances of success in the competitive market.
7.1.2 First sub-research question
What data can be extract from analyses of the market segment and the potential
customer and how these data are applied to create a model of the business?
The author concludes that data from market segments and potential customers analyses
made in this thesis study includes:
• Demographic information: Age, gender, income, and education level of the target
market. This information is for analysing the demands and preferences of the
customer base.
• Psychographic information: Lifestyle, values, and personality traits of the target

market. This information can be used to develop marketing messages that resonate
with the customer base.
• Consumer behaviour: Purchasing habits, preferences, and decision-making

processes of the target market. This information can be used to develop products
and services that meet customer needs and preferences.
• Competition: Data on competitors in the market, including their strengths,

weaknesses, and market share. This information can be used to identify
opportunities and threats in the market and develop strategies to compete
effectively.
Once this data has been collected and analysed, it can be used to create a model of the
business that takes into account the needs and preferences of the target market, as well as
the competitive landscape. This model can then be used to develop marketing strategies,
product offerings, and pricing strategies that are tailored to the target market and designed
to meet the needs of the customer base.
49
7.1.3 Second sub-research question
What factors are crucial for improving the business, its promoting and increasing
possible income on the stage of financial calculations?
After drawing up financial plans in section 6 of this thesis, the author is ready to conclude
that improving a business and increasing its income requires careful financial calculations
that take into account a range of factors. Suggested by the researcher main factors that are
crucial for improving a business, its promotion, and increasing possible income on the stage
of financial calculations are:
• Sales revenue: The total amount of revenue generated by the business through the
sale of products or services. Increasing sales revenue is a key factor in improving
the business and increasing its income.
• Cost of goods: The cost of raw materials and producing process of the final products
or services sold by the business. Reducing the cost of goods sold can increase the
profitability of the business and improve its financial performance.
• Gross profit margin: The variance between the income generated from sales and
the expenses related to the production of goods. Increasing this margin value can
help the business generate more income and improve its financial position.
• Customer acquisition cost: The cost of acquiring new customers, such as marketing
and advertising expenses. Reducing customer acquisition cost can improve
profitability and increase the business's ability to attract new customers.
• Operating expenses: The expenses incurred by the business in order to operate,

such as salaries, rent, utilities, and marketing costs. Reducing operating expenses
can increase profitability and improve the financial health of the business.
Overall, improving a business and increasing its income requires careful financial
calculations that take into account a range of factors. By focusing on factors such as sales
revenue, operating expenses, cost of goods sold, return on investment, gross profit margin,
customer acquisition cost, and lifetime customer value, businesses can improve their
financial performance and achieve long-term success.
50
7.2 Validity and reliability
According to Ahmed, Opoku & Olanipekun (2022 17 – 22), validity and reliability are two
important concepts in thesis research that help ensure the accuracy and consistency of the
findings.
Validity refers to the extent to which a study measures what it was intended to measure. In
other words, a study is valid if it actually measures what it claims to measure. In this thesis
study the author ensures research validity and accuracy of measurements by planning the
data collection methods, survey developing and questions themselves, developing
marketing strategy and financial planning. Additionally, the thesis findings correspond to the
theoretical framework mentioned in the section 1.3., which is another sign of validity. For
instance, a willing to consume more healthy diet of questionnaire respondents (Figure 16)
is direct consequence of a perception of healthy food importance. So, the thesis research
is estimated by the author as valid.
Reliability refers to the consistency of a study's findings over time and across different
researchers. In other words, a study is reliable if it produces consistent results when
repeated or when different researchers conduct the study. To ensure the reliability of a
thesis research study, researchers should take steps to ensure that their measures and
instruments are consistent over time and across different people. Within the thesis
examination by time and different researches is impossible but internal consistency of
measurement results is examinable. Both quantitative and qualitative data collection
processes in this study are aimed for studying demand of proper nutrition product on the
Finnish market. Both in one way or another confirm that there is a demand for the product.
Thus, estimated by the author the thesis research is also reliable.
Hence, the research appears to be both valid and reliable.

51
7.3 Suggestions for the further research
There are several recommendations for the further research suggested but the author:
• More thorough research on the target market and food industry trends can be
conducted. Analysing the competition and identify gaps in the products market that
the business can fill. As a comparison, analyses of the closest online food shops
rivals and their web applications can be added to the extended report.
• Refine the business concept and value proposition based on thorough research.
Ensuring more precisely that the business plan clearly communicates unique selling
proposition and how it solves customers' problems can be done for higher relevance.
• Developing a concept of website or app for online shop of proper nutrition can also
be considered. A platform prototype should have an intuitive interface for users to
better identify the app pr website with the enterprise.
• The further research could include more realistic financial projections. Developing
realistic financial projections should include revenue, expenses, income statements,
cash flow and balance sheets.
• Finally, the researcher should continuously update the plan with the current situation
the world. Update business plan with new information becomes available can help
ensure that plan remains relevant and useful.
To conclude the thesis research, as following from the figure 17 above there is a demand
to implement this business idea. So, where is a demand there is a need to create an offer.
52
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Appendix 1. Survey
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Appendix 2. Survey responses
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CREATING A BUSINESS PLAN

FOR AN ONLINE STORE

LAB University of Applied Sciences

Author Publication type Completion year

Appendix 2. Survey responses

1.1 Research background

1.2 Research questions

1.3 Theoretical framework

Figure 1. Theoretical framework of business planning

2 Theoretical basis behind healthy online store

2.1 Proper nutrition and healthy diet

Figure 2. Healthy eating plate (Harvard University 2015)

2.2 Online store of healthy food products

2.2.1 The concept of online store

Figure 3. Types of Ecommerce (Forbes 2022)

2.2.2 Legislative features of online store in Finland

1. Small and medium-sized enterprises (SMEs): These category includes productions

2. Large corporations: Finland is home to several large corporations that operate in

2.2.3 Website security & Consumer privacy

3.1 Customer profile

Figure 4. Customer Profile Template (Kozielska 2022)

3.2 Empirical research

However, it is important to contemplate the limitations of quantitative methods and to use a

3.2.1 Creating a survey

The survey can be found in appendices part of the thesis as Appendix 1.

3.2.2 Data collection

1. Advertising: Standard ads as television, radio, newspapers, magazines.

2. Public Relations: Press releases, media coverage, and specific events.

3. Sales Promotion: This can include discounts, coupons, and contests.

4. Personal Selling: The type involves face-to-face or telephone conversations with

6. Digital Marketing: Common and important components are Search Engine

4.1 Marketing strategy

4.1.1 Search engine optimization

1. Keyword research: Identifying relevant keywords and phrases to target in the

3. Off-page optimization: Building backlinks to a website or web page from other

4. Technical optimization: Ensuring that the website is properly indexed by search

Figure 5. Types of SEO (WordStream 2021)

4.1.2 Targeted advertising

Targeted advertising is a form of advertising that is specifically tailored to reach a specific

Targeted advertising can be done using various methods, including:

• Geographic targeting: location, such as their country, region, or city.

• Retargeting: ads to people who have previously interacted with a business or

Figure 6. Appendix 2. Survey responses 1/13

Figure 7. Appendix 2. Survey responses 2/13

Figure 8. Appendix 2. Survey responses 3/13

Figure 9. Appendix 2. Survey responses 4/13

However, it is essential to remember or bear in mind that targeted advertising needs to be

4.1.3 Cost Per Action (CPA) networks

Figure 10. How CPA network works

Figure 11. Appendix 2. Survey responses 10/13

4.1.4 Influencer marketing

Influencer marketing is a marketing approach that concentrates on utilizing the influence of

Figure 12. Appendix 2. Survey responses 11/13

Figure 13. How influencer marketing works

Influencer marketing can be employed to achieve various objectives such as enhancing

Overall, influencer marketing can be an advantageous technique for companies seeking to

4.1.5 Email marketing

According to White (2017, 97 – 98), email marketing is effective because it allows

Overall, email marketing is a viral part of a well-rounded digital marketing strategy, as it

4.2 Optimizing marketing