Lily Sheppard s Year 9 Business studies 2017

Transcription

1 Lily Sheppard s Year 9 Business studies 2017

2 Table of contents 1. Introduction Business Name Business Logo and Slogan Prime Function Objectives Location Legal Structure Staffing Requirements Licensing and Legal Requirements 3 2. Marketing plan Marketing Objectives SWOT Analysis Target Market Market Research Promotion and Advertising Examples Competition Financial Plan Financial Objectives Start Up Expenditure Sales Forecast Cash Flow Statement Conclusion Future Prospects Appendices Appendix I Appendix II Appendix III Appendix IV Appendix V Appendix VI Appendix VII. 11

3 1. Introduction 1.1 Business Name The name of the business is The Wellness & Beauty Bus, names were considered such as: Wellness on Wheels but this was missing the beauty element, and The Glampervan which was missing the wellness element. In order to in-cooperate the two key treatments we will offer it was decided that this business would be called The Wellness & Beauty Bus. Not only does this convey the Wellness & beauty message it also clearly states the fact that we are mobile which is the main point of difference of this business. It is also, simple, easy to understand, easy to remember and practical. This name is the perfect description of the business. 1.2 Business Logo & Slogan The business logo for The Wellness & Beauty Bus (In Appendix I) displays a simplistic black bus printed on a white background with our business name The Wellness & Beauty Bus in an elegant pink font above the bus. The slogan Quality treatments brought to you written in a smaller font is found underneath the tires. This simple yet alluring logo clearly explains our business and will be easy for potential customers/clients to understand. The slogan that has been chosen for The Wellness & Beauty Bus Quality treatments brought to you is simple and is designed to attract customers by highlighting quality treatments and convenience. Brought to you being a key element of The Wellness & Beauty Bus. This slogan will be easily understood by clients and give our target market a glimpse into our great quality convenient services. 1.3 Prime Function The Wellness & Beauty Bus is essentially a bus that has been fitted out with certain equipment to create a mobile massage, beauty and hair spa. We will offer various wellness and beauty treatments such as massages, manicures, pedicures, facials and hair treatments. The bus will also be equipped with a ramp for the disabled. People will make a booking and the bus will drive to the clients as scheduled. Primarily we will be hired by a retirement village or other assisted living establishments where residents may have limited mobility. The idea to market to retirement or assisted living facilities means that we will be able book in a full day of clients without driving around, saving both time and Money. People will find details to book treatments via bus signage, website, flyers and business cards. (found in Appendix I) 1.4 Objectives The objectives of The Wellness & Beauty Bus Are: To allow people who may have limited mobility convenient access to personal services. To enhance the health and wellbeing of the elderly community. To provide a positive and tranquil experience. To make access to quality treatments easy. To offer take home products that promote health and wellbeing. To educate elderly people on the benefits of taking time to look after themselves. P1

4 1.5 Location The bus, when not in use will be stored in the residential home of the business owner. People will contact our business in order to book a visit from us. We would allocate certain days to areas and advertise this. For example, we may visit one retirement village on a Wednesday so would advertise this and ask that clients pre-book treatments for this day. Clients would then be able to conveniently receive treatments directly outside their residence. We will also be available to cater for the disabled. Information on how people can contact us will be displayed on the business card that clearly states that to book us they can call or check out The Wellness & Beauty Bus s website shown in (Appendix I). The Wellness & Beauty Bus will be situated around the Mornington Peninsula. Shown below there is a map showing all the retirement villages on the Mornington Peninsula. 1.6 Legal Structure There are various permits and legal obligations that will need to be met in order to operate The Wellness & Beauty Bus. Examples of these will be shown in section 1.9 and there will also be a medical information sheet that customers will need to fill out before undertaking certain treatments and this will be further explained in phase 3 of this business plan. P2

5 1.7 Staffing Requirements In order to run our business, The Wellness & Beauty Bus will need 3 types of employees. A manager who will also be the owner of the business. A trained beauty/ massage therapist who can conduct nail, massage and facial treatments (and drive the bus). A trained hairdresser who will conduct the hair treatments (and drive the bus). Depending on what has been booked we will have 1 beauty/ massage therapist and 1 hairdresser per bus. These people will be casual employees as the hours they will be required will vary but we will be operating between 9am 5pm, 6 days a week. The responsibilities of the employees are as follows: Position Manager / business owner The Beauty/ massage therapist Hairdresser Responsibilities The manager/business owner takes care of all bookings, orders, payment transactions, accounts and everything that relates to running the business. The Beauty/ massage therapist conducts the nail/facial/massage treatments, cleans up the area after a treatment takes place, handles payment transactions and drives the bus. The Hairdresser conducts the hair treatments, cleans up the area after a treatment takes place, handles payment transactions and drives the bus. Wages for The Wellness & Beauty Bus are as follows: Position Manager / business owner Hairdresser The Beauty/ massage therapist Wage $18 per hour (will vary) $21.15 per hour $21.15 per hour 1.8 Licensing and Legal Requirements The licensing and legal requirements for The Wellness & Beauty Bus are as follows: Obtain a tax file number Obtain an ABN Registration of Limited Partnerships Vehicle Registration and medium rigid Level 2 first aid qualifications for all staff Registration of a public health business premises Health Guidelines for personal care industries P3

6 2. Marketing Plan 2.1 Marketing Objectives The Wellness & Beauty Bus s Marketing objectives are To be known as a high quality, trusted provider of wellness and beauty services on the Mornington Peninsula. To develop a positive relationship with the community. To be known as the most convenient provider of wellness and beauty treatments on the Mornington Peninsula. To gain more public exposure (Advertising) 2.2 SWOT Analysis Results from a strengths, weaknesses, opportunities and threats analysis have been recorded and shown below: Strengths Unique services Unique operation Convenient and easy service Mobility Cheaper wages and startup costs The fact that there are no other businesses like us in our market Opportunities If advertising and getting our name out there works and we get positive feedback it could attract more clients and potentially demand expansion Increase in treatments could lead to more retail sales Opportunity to expand using the same business model. People who enjoy their first treatments could become regular customers Weaknesses Limited treatments can occur at any one time. Advertisement and getting our name out there Travel costs Gaining the trust of the elderly Time management Many legal requirements Threats Other beauty and day spa companies offering the same services. Another company starting up a similar mobile business. P4

7 2.3 Target Market The target market for The Wellness & Beauty Bus is elderly people (over the age 60) in retirement who live on the Mornington Peninsula. They are people who have limited mobility or want convenient access to health and beauty treatments. Our business will appeal to this particular group of people because it is so convenient and easy to access. As the business expands we will broaden our target market and will possibly look into offering makeup artist services for parties and events but this will be looked into further in phase 3 of the business plan. 2.4 Market Research Currently in Australia around 13% of the population consists of people over the age of 65 and the Australian census predicted that this percentage will rise to 27% (a quarter of the population) by the year This will broaden and improve future marketing opportunities as our sales will increase and thrive due Australia s changing demographics. Statistics show that the Wellness industry in Australia is growing and many elderly people often partake in the treatments that we are offering. We see our business as a more convenient option for them. We see our business as an opportunity to enhance the elderly community s happiness. A treatment in the Wellness and Beauty bus could be something that they look forward to every month. It is fun to interact with the staff and be social when in many cases the client is separated from family or their partner has passed away. The fact that our business is the only one of offering mobile services is a strong selling point to our market. 2.5 Promotion and Advertising Examples In order to advertise our business, The Wellness & Beauty Bus Will have brochures and business cards displayed in shops, retirement village areas and on the side of our bus (shown in Appendix I) But we will also be advertised through word of mouth such as from people who have visited us before and had a good experience. Advertising is a crucial part of any business and is something that The Wellness & Beauty Bus will need to succeed in if we want our business to thrive. 2.6 Competition The Wellness & Beauty Bus will have no direct competition as there are no buses like ours operating on the Mornington Peninsula. There are many spa s, hairdressers and nail art places on the Mornington Peninsula so The Wellness & Beauty Bus Will need to ensure that we have the same and better services. The fact that we are a mobile business will give us a massive advantage in the seniors market. P5

8 All of the spa/ massage businesses on the Mornington Peninsula: All of the hairdressers on the Mornington Peninsula: All of the nail salon businesses on the Mornington Peninsula: P6

9 3. Financial Plan 3.1 Financial Objectives The financial objectives of The Wellness & Beauty Bus Are to be a financially sustainable business that has the capability of supporting itself after its initial loan to pay off the start up costs. This loan will cover all of our startup costs and will be fully payed back in 7 years. The Wellness & Beauty Bus plans to be able to make enough profit to expand the business and own more buses that will give us the ability to service numerous areas of Melbourne broadening our profit opportunities. Our research also shows that we will definitely be capable of making double our payments within the first few years of operation. 3.2 Start Up Expenditure Startup costs for The Wellness & Beauty Bus includes, a bus and the instillation of the furniture and equipment needed for the treatments that we will be offering inside of the bus. There will also be product orders, advertising, registration and legal requirements. The total startup costs are $58,383. The Wellness & Beauty Bus will be taking out a loan for these startup costs and we will be expected to fully pay it back within 7 years of operation. Examples of this can be found in Appendix VI. 3.3 Sales Forecast The sales forecast for The Wellness & Beauty Bus was created after research of peak months. The Wellness & Beauty Bus will be working all year round as it is not a weather dependent business although we will have certain months in which we will be expecting to earn more money. These months include December, as this is the Christmas month people will consider our business and book people in as presents. November, because of more events and because it is the month leading up to Christmas and May, because Mother s Day is within this month. For more information see Appendix V. 3.4 Cash Flow Statement The cash flow statement for The Wellness & Beauty Bus was created from the data shown in the Cash Receipts Journal and the Cash Payments Journal (found in Appendix V & Appendix VI). The Wellness & Beauty Bus makes a profit of $101,362 within the first year of operation and as we have paid off the start up costs loan and our business becomes popular that number is expected to increase. P7

10 4. Conclusion 4.1 Future Prospects Once the Wellness & Beauty Bus is earning a secure and consistent income we aim to expand the business. The operation of more buses or possibly franchising in various parts of Melbourne is the way we would intend on growing this business. To achieve growth will require advertising and the consitant offering of quality treatments in order to become popular throughout the community. A good reputation and strong financial performace will encourage more clients and possible investors. 5. Appendices 5.1 Appendix I Business Card Front and Back Front of the business card: Back of the business card: P8

11 5.2 Appendix II Income Statement 5.3 Appendix III Start Up Costs P9

12 5.4 Appendix IV Price lists 5.5 Appendix V Cash Receipts P10

13 5.6 Appendix VI Cash Payments 5.7 Appendix VII Cash Flow statement