Research Proposal on "Mobile Pedicure Manicure and Massage Business"
Research Proposal 6 pages (1581 words) Sources: 10 Style: APA
[EXCERPT] . . . .
Mobile Pedicure, Manicure, And Massage BusinessChic & Quick Business Plan
Business description
Industry analysis
The following pages will focus on developing a business plan for a business venture that deals with mobile manicure, pedicure, and massage services. The name selected for the mobile salon is: Chic & Quick.
The mobile salon will activate on the beauty salon industry. This industry includes general branches, like cosmetic treatments for men and women, hair salons, and spas. Our salon is part of the first branch, that of beauty treatments. Such salons include services like: manicure, pedicure, body massage, and facial massage (Wikipedia, 2008).
The beauty treatments industry has significantly increased and developed over the past few decades. Men and women are more and more interested in their appearance, since image, in general, is becoming more and more important. This is revealed by the number of beauty salon visits that has increased compared to previous decades. Also, beauty salon clients' needs have significantly diversified, forcing players in this industry to invest in research and development and to come up with new products and services.
The beauty treatments industry is characterized by several trends. Competition is very intense on this market, as new beauty salons, larger or smaller, are entering the market. Such intense competition leads to reduced prices. However, such low prices cannot be afforded by large salons that pay significant wages to their employees. As a consequence, their clients orient towards smaller and cheaper salon
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s. Also, the number of salons has doubled over the past decade (the New York Times, 2007).download full paper ⤓
Mission statement
The salon's mission statement is: Chic & Quick is devoted to treating each client with the best of attention and professionalism, by providing high quality services at convenient prices. We will also keep up with the latest product developments so that our customers benefit from the best possible care.
The new salon's mission statement basically explains what kind of services clients can purchase here and at what costs. All these will be proven to clients through the services that Chic & Quick will provide.
Business goals
The most important goals that Chic & Quick aims at attaining are:
1. Hiring specialized personnel.
It is very important to provide high quality services. This can only be attained through skilled personnel. Human resources must be the most important part of the business.
2. Launching the new business.
Chic & Quick must be launched in a somewhat "loud" manner.
3. Creating a customers data base.
Even from the beginning, Chic & Quick must create a customers data base, so that future sales can be forecasted accurately.
4. Expanding the geographical area in which the salon activates.
Once the salon will have a stable activity, it is recommended to expand the business, if it proves to be successful.
5. Diversifying the range of products and services.
Chic & Quick cannot provide all kinds of specialized services from the beginning. Once the company creates profit and increases the number of customers, the range of products and services must be diversified.
6. Increasing sales.
The purpose of each business is to generate profit, and Chic & Quick makes no exception. Therefore, sales must grow progressively, so that the initial investment is recuperated.
Objectives
The objectives that contribute to the achievement of the business goals stated above are:
1. Hiring specialized personnel.
A a) recruiting specialized personnel through newspaper ads b) selecting some of them c) providing training if required
2. Launching the new business.
A a) launching the website b) launching the advertising campaign c) registering customers
3. Creating a clients data base.
A a) organizing a demonstration session b) scheduling appointments with clients c) creating the data base with clients that are satisfied by the company's services
4. Expanding the geographical area.
A a) prospecting other areas nearby b) selecting one or more of these areas c) launching the activity in the selected areas
5. Diversifying the range of products and services.
A a) conducting a research activity in order to find out innovations in the industry b) discussing with clients about what additional products or services they would like Chic & Quick to provide c) acquiring the necessary products
6. Increasing sales.
A a) increasing the number of customers b) expanding the geographical area c) diversifying the range of products and services
Value proposition
As mentioned above, the beauty treatments industry is characterized by low prices for the provided services. It is obvious that Chic & Quick cannot compete with other salons unless it applies the same pricing strategy. Of course, the prices will not be cheap, but they will not be very expensive either.
Chic & Quick does not want to create the image of a cheap business that offers mediocre services. Therefore, quality is very important for this business. Value will be added by the salon's employees that must be very well trained and mannered. They will be paid in accordance to these demands.
Also, Chic & Quick wants to create a special relationship with each customer. In other words, each customer must feel like he or she is the most important customer for our salon.
Business model
Infrastructure
In order to perform the salon's services, there are several tools and machines required. It is not important for these tools to be new or extremely expensive. However, personnel's skills are very important in providing the company's services.
Value proposition
Chic & Quick will provide high quality services at convenient prices. Also, the salon's employees will work everyday of the week.
Customers
The main customer segments addressed by Chic & Quick are: women aged between 20 to 45, and women of over 45 years of age.
Products and services
Manicure: nail polish, nail treatment, French manicure, spa manicure, paraffin treatment, polish change, design nail, artificial nails, sculptured nails.
Pedicure: nail polish, nail treatment, French pedicure, spa pedicure, paraffin treatment, polish change, design nail, artificial nails.
Facial massage: European facial, renewal facial, mask treatment, C complex treatment, other facial massage types.
Body massage: relaxation massage.
Market analysis
Target markets
The most important segment of customers that Chic & Quick addresses is consisted of women aged between 20 and 40 years, with medium incomes, educated, with an active professional and social life. Such women are career driven and do not have enough time to spare in order to go to a traditional beauty salon.
The second segment of customers that Chic & Quick addresses is consisted in women over 40 years of age, with medium incomes, that would prefer to benefit from beauty treatments in the comfort of their homes.
Competitor analysis
The most important direct competitors for Chic & Quick are:
Personal Look
Avenue West Salon
Elegant Nails
Lady Nails
Magic Nails
Nail Tech
Pretty Nails
Pro-Nails
Indirect competitors:
Protips Nail Salon
Rich Nail & Tan
Totally Polished Nail and Skin Spa
Future competitors:
True Nails
Unlimited Creations
Van Nail Salon
Competitor analysis grid
Directory information
Competitor a Competitor B
Competitor C
Competitor D
Competitor E
Company name
Elegant Nails
Magic Nails
Nail Tech
Rich Nail & Tan
True Nails
Mission statement
Elegance and refinement
Creative quality services
Innovative services and techniques
High quality at low prices
High quality services
Products or services
Manicure and pedicure
Manicure, pedicure, tanning services
Manicure and pedicure
Selling price
Customer service
Primary target market
Same as Chic & Quick
Secondary target market
Same as Chic & Quick
Competitive advantage growth differentiation innovation differentiation
Cost leadership
Quality of employees
SWOT analysis
Strengths:
High quality services
Skilled employees
Medium prices
Weaknesses:
Limited geographical area
The company does not have a very expanded range of products and services
Opportunities:
The market is in full expansion process
Threats:
There are several new entrants on the market that provide low cost services
Competitive advantage
Chic & Quick's competitive advantage is based on… READ MORE
Quoted Instructions for "Mobile Pedicure Manicure and Massage Business" Assignment:
“I need to create a business plan a Mobile pedicure, manicure and massage business venture. The service will cover a 45 mile radious available in central Maryland.
Appointments will be made via website and telephone. Hours of operation will be Monday - Sunday.
Want create a website....of the business. The services are targeted at busy ladies that are limited to travel outside the home, or hospice, or after work hours appointments for those that don't like crowded beauty shops. Men are welcome also. All supplies, massage tables are provided.
Something simple and not to complex - just the basics but incorporate the following:
Executive Summary
Assignment 1: After you have written the competitor analysis, draft a one- to two-page executive summary (you will be reminded of this at the end of that lesson). Then review and finalize the executive summary at the end of the tutorial (a reminder will be included at the end of the last lesson).
Business Description
Assignment 2: Identify the industry within which your e-business will operate and write an industry analysis.
Assignment 3: Draft a mission statement for your e-business. Include a paragraph or two that explains or justifies the mission statement. This mission statement may change slightly as you continue to develop your business idea, but it should also be complete and accurate enough to guide the formation of goals and the value proposition.
Assignment 4: Write at least six goals for your business. Each goal should include both a clear statement of purpose and a brief explanation.
Assignment 5: Write at least three SMART objectives for each of the business goals you developed in assignment 4. The best way to present these objectives in your plan is to make them part of the relative goal. That is, following each goal statement, list three or more objectives that contribute to the achievement of the goal.
Assignment 6: Formulate and write the value proposition of your e-business. This should be a paragraph or two that clearly states the benefits your business will offer to customers and justifies why this is an important proposition for customers and in the marketplace.
Assignment 7: Select one or two (rarely three or more) business model(s) that accurately describe your proposed business activities. For each model, identify it and briefly describe the model as it applies to your business idea. Include the value proposition (from assignment 6) and the revenue model in your description.
Assignment 8: Write a products and services section for your e-business plan.
Market Analysis
Assignment 9: Identify and briefly describe at least two and no more than three target markets for your e-business. Make sure your markets are scoped correctly*****”not too broad and not too narrow. Your description should include as many demographic, geographical, psychographic, and consumer characteristics as possible.
Assignment 10: Complete your description of your target markets by adding objective, quantitative data to the general description you completed in assignment 9. Based on your market research, you may have to make minor adjustments in your target markets.
Competitor Analysis
Assignment 11: Find, list, and rank 7 to 10 direct competitors, or fewer if you can find less than 7 major competitors. Find, list, and rank 3 to 5 indirect competitors and 3 to 5 future competitors for your e-business.
Assignment 12: From the lists you complied in assignment 11, complete the competitor analysis grid for 2 to 3 direct competitors, 1 indirect competitor, and 1 future competitor for your e-business.
Assignment 13: Write up the results of your competitor search and analysis for inclusion in your e-business plan.
Assignment 14: Identify 1 to 3 competitors who are popular with your target markets. Conduct a critique of their Web sites using resources such as those listed previously.
Assignment 15: Use opportunities-and-threats approach, the competitive-strategies approach, or both, to identify at least one (hopefully more) source of competitive advantage for your business. Write this up so a reader of your e-business plan will understand how you expect to use these to achieve commercial success.
Operations
Assignment 16: Based on your intended Web site host requirements, select: (a) storebuilder service, (b) Internet service provider, (c) dedicated hosting service, or (d) self-hosting and investigate the feasibility and cost of hosting a Web site for your e-business (you will use the cost information in the financial statements). As part of your operations plan, briefly explain and justify your decision.
Assignment 17: Based on your intended Web site requirements and the considerations listed previously, select (a) internal development, (b) external development, or (c) partnering for your start-up site construction and ongoing site maintenance. Briefly explain and justify the decision.
Assignment 18: Find an available domain name (one currently available at the time you investigated it) for your e-business and write a brief paragraph to explain and justify it.
Financial Statements
Assignment 19: Beginning with the draft spreadsheets, create a start-up budget, income and expense statement, balance sheet, and cash flow statement for your e-business. As appropriate, make all projections three years into the future. Write up a summary of these statements (at least one paragraph per statement) that highlights key points of interest to prospective investors (e.g., when the business becomes profitable, how much invested capital it requires, where the capital will come from). Also include a list of key assumptions that support the numbers in the statements. Optionally, include a table of key financial ratios and/or supplemental statements such as an investment schedule
*****
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“Mobile Pedicure Manicure and Massage Business.” A1-TermPaper.com, 2008, https://www.a1-termpaper.com/topics/essay/mobile-pedicure-manicure-massage/1783083. Accessed 5 Oct 2024.
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