BUSINESS PLAN OF YUM CHA - A MODERN DIMSUM RESTAURANT THAT CONVEYS CANTONESE CULTURE IN PRAGUE

The bachelor's thesis is the business plan analysis relating to starting up the Dim Sum restaurant named Yum Cha with a casual-premium concept in the Prague market, which specializes in the Cantonese cuisine. The thesis has three main parts, including the theoretical, methodological, and practical. All of these analysis parts aim to demonstrate the feasibility of the Yum Cha restaurant in a relatively new market like Prague, as well as the Czech Republic. In the theoretical part, it analyzes the cultural and culinary background of the Cantonese identity, which helps the readers to understand the differences between the Cantonese identity and the remaining Chinese identity. Besides that, the analysis points out the features of Dim Sum in its original place and its globalization process in several countries in order to create a basis for convincing ability to enter new markets. In the methodological part, it explains some of the common analysis tools for business planning, including PEST, Porter's five forces, VRIO, Blue Ocean Canvas, Business Model Canvas, SWOT, and financial planning. The practical part is to analyze the Prague F&B market context and determine the market gap that exists in the representation of authentic Cantonese cuisine, as well as apply the business model to the listed analysis tools in the theoretical part. Additionally, it also defines the restaurant's concept, target segments, and competitive position, which help to create the marketing mix strategy. Regarding the financial factor, the analysis includes initial investment, fixed and variable costs, and the break-even point. Moreover, the financial part for the Yum Cha restaurant clarifies the P&L statement based on the realistic assumption, adding to the 3-scenario analysis to enhance the realism of this business plan. In general, the result suggests that the Yum Cha project is a differentiation concept, which has enough ability to access the Prague market, while it still has to face relevant risks relating to market acceptance, skilled labor forces, and cash flow management.