Beruflich Dokumente
Kultur Dokumente
A project on
MANAGING THE EARLY GROWTH OF
BUSINESS
Submitted by:
Divya Patil - 2019129
Advait Parkhi - 2019126
Keyur Patankar - 2019127
Honey Shah - 2019149
Managing The Early Growth of Startup: Mobile
Beauty Salon
INTRODUCTION
The beauty industry is booming these days. This makes it a great time to
get into the business, or expand your existing business. There are plenty
of ways to do so, but today we’re going to talk specifically about Mobile
enterprises.
They are gaining in popularity across the country. Entrepreneurs are
turning to these businesses on wheels because they are a fairly
inexpensive and easy way to start a business. They are not just ice cream
trucks or food vendors; mobile businesses have grown to encompass an
eclectic mix. Across the country, florists, hair stylists and even dancers
are gutting old vehicles and are turning them into decked-out mobile
shops, avoiding the overhead costs associated with brick. “Customers
can now enjoy all the benefits and privacy of visiting a salon with only
going a few steps from their home."
It isn't only the extra attention that makes the beauty
truck trend appealing to entrepreneurs. As they expand their brand's
reach, here is a look at four benefits of going mobile – and what you can
learn by taking your business on the road.
Haircutting services
Hair coloring services
Other hair services
Resale of merchandise and cosmetic products
Skin care services
Manicure and pedicure services
Massage Services
Providing hairstyling services
Providing temporary makeup services
Providing facials and skin care services
Other complimentary services
Field Workers (Hair Stylists, Hair Dressers and Barbers et al) (6):
Responsible for handling haircutting services, hair coloring services
and other hair services
Resale of merchandise and cosmetic products
Handle skin care services
Handle manicure and pedicure services
Responsible for handling massage Services
Providing hairstyling services
Providing temporary makeup services
Providing facials and skin care services
Handle any other duty as assigned by the manager
Truck / Van Driver:
Responsible for transporting equipment, supplies and workers to
project site
Run errand for the organization
Handle any other duty as assigned by the manager.
SWOT Analysis
Mobile salon business is one of the many businesses that can easily
generate sales with little stress as long as they are well positioned and
equipped to carry out their services. We are building a standard mobile
salon business with variety of services which is why we have decided to
subject our business idea (company) to SWOT Analysis.
Ordinarily we can successfully run a normal mobile salon business
without the stress of going through the required protocol of setting up a
new business including writing a detailed business plan, but because of
the nature of the kind of mobile salon business we want to establish, we
don’t have any option other than to follow due process.
Strength
Beauty on Wheels Mobile Salon Company is centrally located in a
densely populated industrial and residential area in Mumbai our location
is in fact one of our major strength. We have a well – equipped state of
the art mobile salon equipment and tools and we are also one of the very
few mobile salons in the whole of Mumbai that offers a wide range of
services for both households and corporate clients.
Another strength that counts for us is the power of our team; our
workforce and management. We have teams that are considered experts
in the salons industry, a team of hardworking and dedicated individuals.
Weakness
Beauty on Wheels Mobile Salon Company is a new business which is
owned by an individual (family), and we may not have the financial
muscle to sustain the kind of publicity we want to give our business. As
a new business, we are also quite aware that it will take time for us to
build trust with our clients. Moreover, we are operating on the busiest
streets of Mumbai. So the traffic situation and busy streets are a
challenge for us.
Opportunities
We are centrally located in one of the busiest area in Mumbai and we are
open to all the available opportunities that the city has to offer. Our
business concept also positioned us to be a one stop shop in the mobile
salon line of business.
The truth is that there are no standard and well – equipped mobile hair
salon businesses within the area where ours is going to be located; the
closest salon company to our proposed location is about 2 kilometers
away. In a nutshell, we do not have any direct competition within our
target market area.
Threats
Some of the threats that are likely going to confront Beauty on Wheels
Mobile Salon Company are unfavorable government policies, seasonal
fluctuations, demographic / social factors, downturn in the economy
which is likely going to affect consumers spending and of course
emergence of new competitors within the same location where our target
clients are located. Global Economy and various other factors arising
from it can also affect the purchasing power of the customers which in
turn can affect our business.
Target Market
Before choosing a location for our mobile salon business, we conducted
our feasibility studies and market survey and we were able to identify
those who will benefit greatly from our service offerings. Basically those
who will benefit from our service offering are households, hotels,
hospitals, hostels, and camp grounds et al. They cut across different
sectors of the economy.
The demographic component of those who need the services of mobile
hair salon services spreads across the public sector, the organized private
sector, and individuals from different strata of the society and from all
walks of life. Below is a list of the people and organizations that our
mobile hair salon services are designed for.
Businessmen are the main target for this business as they have to be well
groomed and have fewer time frames so they can book appointments
with us and we will operate as per their convenience.
Tourists are also one of the main targets as they don’t know the locality
and nearby area. Therefore, we can provide services at their place of
stay.
Catering to tourist will also help our publicity as they spread the word of
mouth which will help us in future for our business expansion.
These are our other target market: -
Celebrities
Busy business men and woman
Households
Corporate Executives
Business People
Hotels
Hospitals
Hostels
Camp grounds
Pricing Strategy:
Our pricing system is going to be based on what is obtainable
in the hair salon industry cum mobile hair salon line of business, we don’t
intend to charge more (except for premium and customized services) and
we don’t intend to charge less than our competitors are offering in
Mumbai – India
Be that as it may, we have put plans in place to offer discount
services once in a while and also to reward our loyal customers especially
when they refer clients to us. The prices of our services will be same as
what is obtainable in the open market knowing fully well that home
services attract extra charges compare to what a conventional salon would
charge.
Marketing and Sales Strategy:
The marketing strategy for Beauty On Wheels Mobile Hair
Salon is going to be driven basically by excellent customer service,
honesty and quality service delivery. We will ensure that we build a loyal
customer base. We want to drive sales via the output of our jobs and via
referral from our satisfied customers. We are quite aware of how satisfied
customers drive business growth especially businesses like mobile hair
salon services. Beauty On Wheels Mobile Hair Salon is a mobile hair
salon business that is strategically located and we are going to maximize
the opportunities that is available which is why we spend more to locate
the business in a location that will be visible and enable us to access our
target market.
Our sales and marketing team will be recruited based on their
vast experience in the industry and they will be trained on a regular basis
so as to be well equipped to meet their targets and the overall goal of
Beauty On Wheels Mobile Hair Salon. Our goal is to grow Beauty On
Wheels Mobile Hair Salon to become the leading mobile hair salon
company in Mumbai which is why we have mapped out strategy that will
help us take advantage of the available market and grow to become a
major force to reckon with in the car hair salons industry. Beauty On
Wheels Mobile Hair Salon is set to make use of the following marketing
and sales strategies to attract clients;
Please note that the amount is on the high side because we have
decided to start a business that does not revolve around one man; a
mobile hair salon business with the ideal business structure of a
business with the potential to grow and sell franchise in future.