Eco is a full-time service salon that is dedicated to providing superior services to the clients in a manner that will satisfy their needs. It works on the basis of constantly providing quality services that are satisfactory to the clients at affordable costs. Its aim is to render exceptional quality products and set an environment that is comfortable to the clients and even the staff members. Eco management and its staff work with the focus of creating a customer friendly environment by considering the diversity of people’s ideas, cultures, and preferences. As the name almost suggests, Eco salon focuses on promoting environmental awareness in its service to the larger community and the preservation of nature.
Our Mission: The mission of Eco salon is to offer and supply products and services that will enhance the physical beauty and mental relaxation of the clients as this promotes positive living in the society.
Our Motto: “The Trend Begins with Eco salon!”
This venture has just been started at the right time and in the best location. After a relentless exploration of possible sites for seven months, it was established the Texas Arena was the best location. The spirit of hard work and undying efforts of this noble idea was facilitated by the high demand from our customers at the friendship level. Besides, the recruitment of highly qualified beauty professionals to support the venture made it a potential creation.
David Hey, co-owning this venture with Janet Thatcher, had worked in some high-class salon and gained customer popularity due to his superior services and this will boost the client base of Eco salon. David has excellent skills and attractive dexterity when handling customers and this is responsible for the fame that Eco boasts of among the competitors. We highly expect our reputation to improve with the aim of capturing more than half of the existing market size in this industry.
To attain our goals, Eco salon seeks to source additional finances through loans. This loan will be repaid from the firm’s revenues and the collateral security for its acquisition will rely on the existing assets, personal guarantors of the business owners, the exceptional goal-oriented and experienced staff.
The major keys to success Eco salon enterprise will include:
Eco salon is planning on commencement of its operation to deal in a wide range of products and services that will capture all the beauty-related desires of the clients.
Eco will supply high-quality nail, hair and skin services coupled with a variety of the global class beauty and skincare products. The salon is committed to doing all it takes in line with acceptable business ethics to set the pace ahead of its competitors in beauty and skincare services. This will be enhanced by providing the services under one roof in a convenient location.
Eco salon will be located in the commercial lane in Texas Arena inMall1453 Holy Street in Texas. This salon will cover a metric space of 1645 square feet. The site of the business is strategic with respect to the heavy human traffic that uses the road and will likely bump on the magnificent salon. It is at a junction and this boosts chances of accessibility by many potential clients from any side of the town.
The initial plan was to acquire an established salon but after this failed, I decision was reached at to start Eco from the ground up. There is a heavy capital requirement that will be used to lease the premises, do interior design of the salon and purchase equipment for operation in the salon.
The capital requirement for leasing is approximated at $32,500 while the acquisition of the basic salon equipment will cost approximately $27,000. They will be personal investment by the owner to the tune of $500 with cash at hand by the commencement date.
|Total Start-up Expenses||$1,817|
|Other Current Assets||$600|
|Start-up Expenses to Fund||$1,817|
|Start-up Assets to Fund||$60,600|
|Total Funding Required||$62,417|
|Non-cash Assets from Start-up||$60,100|
|Cash Requirements from Start-up||$500|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$500|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$500|
|A loss at Start-up (Start-up Expenses)||($1,817)|
|Total Capital and Liabilities||$60,600|
Eco salon is set to scale the heights of a full-service beauty and skincare center. The range of services and products enlisted by its management on offer includes:
The strategic plan of Eco salon is to apply a lot of skills in what is done, excellent customer services, a comfortable and relaxing environment for the clients and the staff.
Eco salon is committed to set standards and become the admiration of other competitors that may be offering only a few products and services. This idea was obtained from clients who claim that they need a wide range of products and co-operating services at the same point. This they claim is less costly and time friendly. Out of this market research from the management team and the owners, co is likely to gain many commands of the market. Eco salon will offer products mostly and offer services as well as on-demand in the same premise for convenience.
The location of the Eco salon is focused on taking care of all the clients from different socio-economic classes. This will be a competing edge against similar ventures that are located in the middle of the town targeting only the elite class and discriminating against the middle and lower class.
Eco will provide a relaxing and cozy environment for customers as they get served. Additional free services like soft drinks will be given to customers at the waiting bay which will also have a television set for global and local news updates besides entertainment.
4.2 Marketing Strategy
The salon will use the customers who profess satisfaction from services they are offered to market itself. When clients leave the premise with products that meets the desires and the result is observable within the community, people will enquire where the service or product was obtained and this will go along way in selling our image and promoting our business. This simply means that Eco salon will get clients who have been referred to by others.
From our market investigation, beauty business doesn’t require a lot of promotional campaign but instead, it requires a well structured oral advertisement of one on one. In support of this strategy, Eco will offer special services as a mode of the marketing mix. Customers who are already served will be encouraged to refer others and get discounts as a reward. There will also be a lottery draw for a trip to the annual global beauty contest venue. In this case, the client will be given cards to drop each time they come to be served, to purchase or refer a new client and the higher the number of cards, the greater the chances of winning. This method will put the salon ahead of others.
Sales projections of Eco salon are as illustrated by the bar charts and tables below. The revenue is expected to show a steady increment for the next four years after a lag phase at the starting period.
|Year 1||Year 2||Year 3|
|Nails and massage||$18,000||$20,000||$22,000|
|Direct Cost of Sales||Year 1||Year 2||Year 3|
|Subtotal Direct Cost of Sales||$4,320||$4,300||$4,400|
Craik, J. (2009). Fashion. Oxford: Berg.
Kurtz, D. L. (2012). Boone & Kurtz contemporary marketing / David L. Kurtz. Mason, OH: South-Western Cengage Learning.
Cunningham, J., & Harney, B. (2012). Strategy & strategists. Oxford: Oxford University Press.
Mernagh-Ward, D., & Cartwright, J. (1997). Good practice in salon management. Cheltenham: Stanley Thornes.
Rennie, M. (1970). Elementary office practice. London: Heinemann Educational.
Henderson, J. P. (2009). The small business self-starter handbook: How to manage pitfalls of small business start-ups. New York: IUniverse.
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