Hair and Make-up at home-Part B formative assessment

Hair and Make-up at
home-Part B formative
assessment

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Introduction to the lean start-up..................................................................................................1
Customer value proposition canvas............................................................................................2
Lean business model canvas.......................................................................................................4
The c level specialist contribution...............................................................................................7
Financial and financing plan.......................................................................................................8
Summary.....................................................................................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11
APPENDIX 1.................................................................................................................................12
APPENDIX 2.................................................................................................................................12

INTRODUCTION
Entrepreneurship development is something that is directly related to the collective
efforts and development which is processed by an entrepreneur as in order to attain all its
working within the timely basis. It is basically a process which is used to enhance the skills,
abilities, attributes, capabilities and knowledge by which it is easy to accomplish all the desired
products and services with more comfort and flexibility (Adhikari, 2018). An entrepreneurship
development is being used to increase the resultant efforts through which working performance
of an entrepreneur is improvised and advanced and in this achieving of goals and objectives
become easier. The following report is based on the “Styling on the Go” that is actually an app
which is used for calling hairdresser and make-up artist to home. The report consist of lean start-
up, objectives of business, customer value proposition, business canvas model, detailed
development plan and future possible developments.
MAIN BODY
Introduction to the lean start-up
A lean start-up defines the state of new business which is developed in order to gain more
profit and sales in advance level. It has been used to attain higher profit within the working
standards so that profitable ending is resulted-in better manner. “Styling on the Go” is a new
business which is established by CEO in London and they have developed the mobile application
as it allows the users to call the best artist for there make-up and hair dressing at their home or at
own place. It support of this application it is easy for the customers to take an appointments as
per their own suitability or convenience. The overall world is facing a pandemic situation due to
COVID-19 thus it is harder for all the individual to go salons for their hair and make-up
treatment (Apostolopoulos, 2018). Thus in support of this application the users has booked an
appointment as pay per click and get the fastest and most liable services at home as well. The
customers could also get the fastest as well as longest services of up-to 72 hours or either 3 days
as in advance. In this customers get supreme and premium beauty tips that is also be indulged
with the make—up artist and hair dresser. In addition to this CEO has developed certain
objectives for 3 year time period in future and that is as addressed below as:
 To attain higher sales and revenue as from the competitive marketplace.
 To grab attention of potential customers so that higher revenue is developed.
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 To increase the profit ratio by 5% within the upcoming time period and in this more
return on the investment is achieved.
The approximate profit in the initial year is of about 2000 units and it is estimates that in
future period of time the sales will be increases with 15% per year. The sales and profit
calculations of 3 years is described below as:
It has been shown from the above calculations that the sales as in upcoming years is
about 60000, 66000 and 726000 and its cost is about 20000, 22000 and 24200 respectively
(Atiase, 2018). The respective profit of first year is 40000, for second year 44000 and for third
year it is 48400 along with this the profit margin is remains the same which is 66.67% as similar
sales is achieved by the business.
Customer value proposition canvas
Value proposition canvas: It is a model that is used by “Styling on the Go” in terms of
tools and in this they get ensure that their offered product and services has positioned and
delivers better values to customers so that they get easily satisfied. In this it is more essential for
the business to fulfil the need and desire of customers and it has been done by making perfect
matching in between the market and product that is covered by the business. It is a model that
consist of different key elements and by considering these components company tries to fulfil the
demand of customers. It is actually be a representation that assist to measure customer profile
and value mapping. The value proposition canvas that is developed by the CEO of “Styling on
the Go” is as illustrate below as:
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