Unit 16 - Business Plan

Business Plan

P5

Business Name: Nimrasbeautyspa.

Phone Number: 07949920640

Email Address: Nimrasbeautyspa@live.co.uk

Website: www.nimrasbeautyspa.com

Contents:

1. Summary
2. Business overview: (Introduction, Competitive advantage)
3. Marketing (SWOT and critical success factors to help you build the business) 
4. Market Research 
5. Team and management structure (Skills, experience, training) Advisers Management systems  
6. Financial budgets and forecasts 

My Summary

When writing a summary this section is usually based to be written at the last part, but in other-cases in writing a summary this is to be used at the beginning. This is used to plan out to raise all the funds and finance this can include all the start-up costs etc. the summary needs to make sure that the reader has the attention to find out everything it needs and wants more information for instance the investor or bank manager and others.

Business Overview

Introduction: In this section you must give a brief description of the idea that has promoted you to start up your business. describe the products you are going to sell and promote, as well with the services you are going to carry out, including the location. You must remember to explain what organisation industry you are going operate in and where its place and position is in the business lifestyle, for example emerging industry, mature industry growth industry or declining industry. Describe your business aims and objectives.

The business I've chosen to do is a Beauty spa, My business name is Nimrasbeautyspa, i will be making my incomes through online services and orders as well with the located salon in central London  Salon is based located in Central London, i found a suitable property that has a reasonable price and i believe it is best for a salon to be located as central is the main point for customers to shop.

There is a massive range of products that we sell on offer, from beauty essential and etc. Our service that we will provide will be in high standard as it is located in central London. Our salon environment will be friendly (serving customers with smile, we will have a fast service with a clean environment to stay in. we will also have music and plasma TV for the customers to relax and enjoy as we will be busy serving everyone but for the ones waiting they can sit and relax. Nimrasbeautyspa will operate with the salon based environment as its in the growth industry.

How it all started?

How it all started? well as I came came to the age to go college I studied hair and beauty level 1/2 for two years. I started enjoying learning the course i was doing until i started to study business and then eventually thought why not open my own business and the thought encouraged me even more when my sister was in the same field and she advised me lets open a salon. When i was about 14 I was staying at my cousins for summer holidays and over them holidays I didn't knew she'd open her own salon so on the weekends id go over and help her out in the salon, from that point i just got attached to this field.

Aims and Objectives

Aim: Our business aims to offer a relaxed and comfortable yet efficient lifestyle facility to guests and members. Our primary aim of the group at the spa is to provide the services which fulfill the needs of the customers with a effective manner. Our experts team at the spa's aim is to assist the peoples gaining relax and minimizing their stress by providing them amazing treatments with effectiveness and giveaway some luxurious products.

Objectives:

1. Our Objectives: is to give luxurious service: serving and welcoming our customers with a smile and friendly manner.
2. Expansion: expanding our product ranges, giving more choice of different smell of beauty and body products, and give them the most amazing treatments to enjoy and share with family/friends.
3. Working environment: we are on the roll to have a friendly working environment as we want our employees to enjoy and love what they do/get while training to make sure they expand the business.
4. Expanding business: expand business and products and invest products different parts of the UK and globally. 

These are the basic points to achieve while working, we all can do this by enjoying what we are doing, having patience, and by loving what we actually enjoy when we are working, as since a young age we've desired to do it and once we get what want we lack from loving it.

Competitive Advantages

1. We offer different rages of products that we sell to customers that they can choose from, these can include treatments, treatment creams, cosmetics beauty equipment etc. this helps us to expand the business and compete with the rest.
2. We must make sure the location of the salon is great, and indeed it is as its based in Central London where there are many customers that shop there.
3. Pricing: we have many amazing/affordable price range which helps the customers to get attracted to the products, we also offer promotions great gift hampers and great quality of products with their services. 

Marketing

SWOT and critical success factor

Strengths:  

1. good qualities to the resorts facilities
2. Trained Staff 
3. Equipment and services 
4. Expensive furniture for the customers to relax on 
5. Flexibility of products many different ranges of colour shape with different working abilities for instance body spray for tanning will have different ranges of skin colors.

Weaknesses

1. Poor company culture 
2. Bad training
3. Bad training techniques  
4. financial problems that may have limitations 
5. Staff and communicating problems etc
6. Timing ability (what time and how long the treatments take)

Opportunities

1. Great business location:  business is located in Central London where there are a lot of tourist sites that can be a strength as this will help to attract the customers to come in from a long tiring day. and a great number of population is usually located their of customers.
2. Expanding my business: if successful we can open another branch of our store where we can get more customers, it will surly be in the same location but might be on a different road or street as customers that cannot not be able to walk or travel it the spa is far we can help them by opening up a nearly store for them.

Threats:

1. Competitive price range: other competitors may offer different price range, this can be a threat to our spa as the prices are the main thing that attracts the customers.
2. Well known spa: they can be a threat as they have been established for quite a while, and they may of have well known customers that get discounts and promotion on daily routine bases as they are a regular customers.

Market Research

Nimrasbeautyspa's target market are mainly women and men who love there massage to be relaxed after a hard long tiring day from work or any sort of tiring activity, there is no age range or gender that we do not allow in the salon as our main rule is to be friendly. 

For market research i will be doing many surveys to see what potential customers would want in their treatments how they would like it and gather many ideas and tips to improve my business. my survey will contain around 20 questions, within every 3-6 months i will send out surveys and flyers for feedback.

Promotion Plan

I have listed below all the ideas that came into my head to promote my business 

1. Posters: this will help attract the customers as there will be images on basic information about my business, this is eye catching for the customers and will be up in every local store and our main branch.
2. Leaflets and flyers: leaflets is one of the best and old method to promote your business as this crosses the line to advertise you business this can be really helpful before the business is launched.
3. Website: my business website is also a way to attract the customers to come in the store have a look at the products we sell live and get great helpful feed back and advice from our experts in the spa.
4. Social Networking: this is one of the best ways to promote you business as the main trend is social networking its free you can share as many pictures as you want keep others updated with you business and products and get more feed back to improve your business, the social sites will include Twitter, Facebook, Instagram etc.
5. Business Cards: this is a way to give contact details to customers directly face to face, quicker service to catch attention with the contact details written in the card, and that help you get discounts as-well.

Team and Management structure

1. Skills and experience and training
2. Management and legal requirements 

Financial Budgets and Forecasts

Profit and loss forecast

Cash flow forecasts

Break-even Analysis