Business Plan Assessment
Added on 2020-10-22
11 Pages2211 Words149 Views
Assessemenet
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Summarising the business plan ..................................................................................................1REFERENCES................................................................................................................................3TASK 2............................................................................................................................................31. Primary research for Heybeauty salon & spa .........................................................................32. Secondary research for Heybeauty salon & spa ....................................................................33. Quantitative research for Heybeauty salon & spa .................................................................34. Qualitative research for Heybeauty salon & spa ...................................................................4REFERENCES................................................................................................................................4TASK 3............................................................................................................................................41. Ethical Dilemma of Heybeauty salon & spa .........................................................................4REFERENCES................................................................................................................................5TASK 4............................................................................................................................................51. How Heybeauty salon & spa will complying with equality and diversity law in recruitingprocess.........................................................................................................................................52. The rights of the new employee in Heybeauty salon & spa ..................................................5REFERENCES................................................................................................................................6TASK 5............................................................................................................................................6CONCLUSION................................................................................................................................8
INTRODUCTIONPreparation of a business plan is essential for an entrepreneur as it would help inproviding the proper activities in order to set up a new business venture. Business plan helps inreflecting all the management activities and different information that are essential in order tostart a new business venture. The present report will include a business plan for Heybeauty salon& spa . Business plan will include complete operations that are required in setting up differentbusiness. Report will also includes the dilemma that are facing up by Heybeauty salon & spa .The budgeted cash flow for the new business is also prepared.TASK 1Summarising the business plan Industry The business will be relating to the salon which is involved in the industry of beauty andcosmetics. Beauty and cosmetics industry is gaining popularity due to increase in demand of thissector. This industry is gaining popularity due to increase in the income level of customerswhich has increased their spending powers. The customers now as days are spending money onbeauty treatments and other beauty products to look attractive and beautiful.Location The business will be starting in Edinburgh which is the city situated in United kingdom.The demand for the products and services offered by salon is more in this city which hasincreased demand of this business in that city. The location is selected by identifying the variousdemands and needs of customers of that place to provide them products and services accordingto their requirement. The location for the salon is selected by gathering information fromcustomers about the products and services which will be offered by salon to identify the demandof services in that city.Target customersThe target customers for this salon will be the people from all age group and will provideservices to the men, women kids etc (Lim, Chae and Jeon, 2014). The salon will provide themservices according to their requirement to attract more customers towards the salon.Business model The business model which will be selected for this business will be revenue businessmodel as it provides information about the different sources of revenue and value for the1
products and services which will be offered by the salon. The revenue model will help the salonin identifying the different sources of revenue.Name of the businessThe name of the salon will be selected to attract customers towards the business. Thesalon will be providing services for all the age group people to increase their market share andprofitability to attract more customers towards the salon. The name of salon will be “HeyBeautyhair and beauty salon & spa”Visual Identity The logo of Heybeauty salon & spa will include name of salon and image of male andfemale to provide the customers with information that the salon is providing services for both themales and females. The salon will be having attractive interior and exterior to gain attention ofthe customers. Also, It will have attractive reception and waiting room for the customers toprovide them better experience at the salon.Values for the business The salon will include the various values that will include social, environmental andvalues relating to equality and diversity. The social values for salon will consist of providingcontribution for the development of society by giving share of profit earned by salon in charityetc. The environmental values will be related to reducing the wastage of hair cut by degradingthe waste and also can contribute to the environment by reducing the wastage of hairs byconverting them into wigs which can be provided to the cancer patients that have lost their hairs.2
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