This document provides a comprehensive business plan for Ozzio Beauty Salon, including executive summary, owner's background, products and services, market research, marketing strategy, and competitor analysis.
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Welcome The Business Plan You’ve got a business idea. You’ve decided to start a business. You want to get going. But there’s a lot more to a good business than a good idea. You need to think things through to maximise your chances of success. Are you the right person to run the business? Will customers like your product? A business plan will help you turn an idea into a business. It needs you to think through all the parts of your business to plan how everything will work. It will take a few weeks to write if you’re going to do it properly. Some parts will be easier to complete than others. Stick at it because it’s not the final document that’s important, it’s the process. Although you want to have a good plan when you’re done, an OK plan is better than no plan. The Prince’s Trust Business Plan Pack The best business plans aren’t long and complex; they explain only the most important information – what you want to achieve, how you will get there and the things you need to do along the way. It’s best to tackle a business plan in small chunks. The Prince’s Trust Business Plan Pack can help. This is The Business Plan divided into sections to help you develop your business idea. You can use the information in The Guide to help you complete the sections. Some of the sections of The Business Plan have tables to record the financial parts of your business. The tables are also available in MS Excel format and the sums in these are automatic. The Prince’s Trust Enterprise Programme The Prince’s Trust has helped many young people to complete their business plans and start their own businesses. If you are aged 18–30 and unemployed or working fewer than 16 hours per week, then we might be able to help you. We have offices throughout the UK and in each there is a team of Enterprise Programme staff. To take part, you need to be interested in self employment and have a business idea that you would like help to test and explore. The programme can then help you to see if your business idea will work and whether self employment is right for you. If through this process you find out it is, the programme can offer mentoring support and, if you really need it, financial support to start your business. However, if self employment turns out not to be the right option, the programme can offer support to secure other goals in employment, education, training or voluntary work. We can’t guarantee that your business will work or that we will be able to offer you money, but if you are up for a challenge and want our help to explore your business idea, get in touch and come and meet us.
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Getting started Whose plan is this? Business and owner details: Business who started a beauty salon which comprises all the organic product for their customers. Business name: Business Name: Company name is “Ozzio Owner(s) name: Owner: Mr. Rio Zenro (entreprenuer) Business address and postcode: 112, Fist street Appartment 11, Onesville UK Business telephone number: 0194985726 Business email address: ozziosalon@hotmail.com Home address and postcode (if different from above): same as above Home telephone number (if different from above): same as above Home email address (if different from above): same as above
Section one Executive summary 1.1 Business summary: Ozzio provide the best beauty product to the customer because as per the market need, company provide organic product which in turn assist to meet the market demand. For that, there is a need to determine the competitive analysis, macro and micro analysis which help to determine the feasibility of a product. 1.2 Business aims: The aim of a business to let customer know about the importance of organic product which are especially designed customized. For that it help to enhance the customers base and raise financial performance as well. 1.3 Financial summary: The sales of the product is high as compared to the cost of a product and this in turn assist to describe the feasibility of a product. Introducing this business plan in market help to meet the define aim and sustain a good image at local level.
Elevator Pitch 1.4 Your business name: Business name: Ozzio 1.5 Strapline: “Adding care to your beauty” 1.6 Elevator pitch: Company wants to let customer use the organic product which are customised as per the need of customers. Through this, an organization meet the demand of customer as there are lot of users who want to use orgnic product that do not cause opposite impact upon this skin.
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Section two Owner’s background 2.1 Why do you want to run your own business? This helps to raise the knowledge and also assist to determine the market trend of a company. Also, assist me to examine the need of customers regarding beauty salon. 2.2 Previous work experience: Have a good experience in management field because already done 3 years worked in Smart technologies, UK. 2.3 Qualifications and education: MBA (management) 2.4 Training: Management courses Diploma in MIB 2.5 Hobbies and interests: explore new ideas determine the trend of market listening and singing 2.7 Additional information: Want to set up my own business where I provide good quality of product and service to customers.
Section three Products and services 3.1 What are you going to sell? a product a service both 3.2 Describe the basic product/service you are going to sell: Different make up product for bridal which include complete package of makeup, spa etc. which is comprise of organic product. Even normal customer are also take an advantage of facial, waxing, clean-up where the entire product is made up of natural ingredients (Liu, Yang and Ng, 2020). 3.3 Describe the different types of product/service you are going to be selling: Skinmake up product facial cream with natural ingredient Customized product Eye make up product Products related to manicure and pedicure. 3.4 If you are not going to sell all your products/services at the start of your business, explain why not and when you will start selling them: the product and services are selling from the start up of a business only 3.5 Additional information: This is only for women where Ozzio actually provide customised treatment and product by take care of the customer's skin.
Section four The market 4.1 Are your customers: individuals businesses both 4.2 Describe your typical customer: The customer for Ozzio are eco-conscious, married, unmarried and college girls whose age is in between 20 to 40. it is so because they actually understand the motive of new business (Viswanadham, 2018). These customer also help a business to sustain a brand image at different level because it is a new concept and people of UK are obese and health conscious. That is why, this target customer assist company to meet the define aim. 4.3 Where are your customers based? The customers are belongs to higher class and middle class so that they afford the price of a beauty product. Oit is so because these customized product are actually high in cost and Ozzio is also offered the same product with natural ingredient which is totally new concept and as there is no side effects upon people's skin. 4.4 What prompts your customers to buy your product/service? The USP of a product force customer to buy a product and take an advantage from Ozzio so that it will not cause any negative impact upon skin. Also, natural ingredient on the beauty product also assist to attract range of young age girls and high society women to use the product or service once. 4.5 What factors help your customers choose which business to buy from? Customized product:Ozzio offer unique customized product which are further made up from the natural ingredient and this factor definitely attract new customer towards it. Also, this in unique concept which none other company used that is why, customer definitely choose the same (Türko, 2016). Effective customer service:The customer service offered by Ozzio is different from others, such that it made website where customer provide their views and this in turn attract range of customer. Also, company do not wait any customer as it provide phone-calls arrangement for their customers in order to reduce the waiting time. Quality of product:Offering customized organic product to their customer are if high quality. Though the price of a product is high but, quality is A+ that is why, high class women and middle class will definatley enjoy the offered service. 4.6 Have you sold products/services to customers already? yes no
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If you answered “yes”, give details: 4.7 Have you got customers waiting to buy your product/service? yes no If you answered “yes”, give details: 4.8 Additional information: The time of a beauty salon is 9:00 AM to 8:00 PM. Section five Market research 5.1 Key findings from desk research: As per the secondary data, it is analyzed that the customers needs and wants are keep changing and for beauty industry it is also applicable. This in turn sometimes make businessman confuse what to manufacture or not. It is so because, as per the recent data, majority of the people are prefer to use organic product and that is why, they left old beauty salons as well. Also, the market size of this industry in UK is more than 4 billion euro and around 47 thousand business are involve under this, so, it is clearly reflected that it occupy the wide area (McKenzie and Sansone, 2019). On the other side, the recent trend also shows that customer also focus on th sustainability and that is why, top beauty product company like L'Oreal start using product which are committed to 60% reduction in water consumption. This is clearly reflected that company are focusing on customer need and as a result, they provide the same product in order to satisfy the demand. 5.2 Key findings from field research – customer questionnaires: 1. What services do you use at your beauty salon? Manicure or pedicure spa makeup Others 2. Which is the first thing you note while trying new beauty salon? Customer service Appearance atmosphere Both
3. How much do you spend in a month on the beauty salon? £14-£20 £20-£25 £25-£30 £30-£35 4. What are the main factor do you consider while choosing beauty product? Price Quality Location All of these 5. Which of the following is consider the most effective promotional tool that help to attract customers? Word of moth social media discount offers Newspaper and magazine. 5.3 Key findings from field research – test trading: As per the primary research, it is analysed that word of moth is consider the most effective promotional tool that assist to let customer know about the new offers. Also, majority of them are actually spend£20- £25 in the beauty salon and this should be keep in mind while openingnew venture. Further, most of them are actually visit salon for different things and that is why, it is not easily determine the need the customer as it is varies from person to person. Thus, in the context of Ozzio, it is reflected that company should focus on the price as well as quality of a product so that it leads to attract range of customers. On the other side, company should also focus on the customer service as well as upon the ambience of a firm because it is the first thing which they notice while entering into a business. 5.4 Additional information: Through the primary and secondary study, it is analysed that customer prefer to use best variety of product which in turn assist to meet the define aim. That is why, Ozzio should also make sure that the offered beauty product and service help the customer to take an advantage of a product. But the only thing that need to be consider is to select the best natural product which help to meet the define aim. Tangible resource:this is a physical resource which means that it can be touched. So for the present plan,land, equipment, financial resources, human resources are consider under this. Also, this items are easily liquidate and helps a company to understand the financial standing. Intangible resource:it is the non-physical resource which cannot be touched such that brand image, reputation, intellectual property. Skill required for business plan: Accounting skills Presentation skill IT skill Management skills Problem solving skills team working skills.
Section six Marketing strategy What are you going to do? Why have you chosen this marketing method?Howmuchwill it cost? Useofsocial media offersand discount Social media is used by majority of the people andthatiswhy,withtheblogpostand advertisementpost,companyisabletograb attention of many customers (McKeever, 2016). Offers and discount for first five customers up to 5% will also assist to attract range of customers. This is also include word of mouth marketing that aid to increase the customer. £25 £15 TOTAL COST£40.00
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Section seven Competitor analysis 7.1 Table of competitors Name, location and business size Product/servicePriceStrengths Weakness Buller and Rice 36ANewington Green, UK small business It provide best variety of hairstyleproductby focusingon sustainabilityandalso uses biodynamic haircare product, Companyfollowlow pricing strategy but also offerrangeofnew discount offers to their regular customers Also,usesnatural ingredient by own that provide natural shine to the hair of a customers. Packaging of a product isalsorecyclableand sustainable. Companyonlyofferhair relatedproducttothe customers.Also,dueto singleproductofferings, companyaffectedthe brand image of a firm. Cloud Twelve 2-5 Colville Mews London W11 2DA London medium-size business The company offer range of hair and nail services totheircustomers,and also provide spa facilities only. Company offer product at high rates and this in turn assist to meet the define aim. Provideluxurious servicetotheir customersbyusing organicproductwith best ambience. Product are eco-friendly and do not cause any negative impactuponskin(La Rocc and et.al., 2019). Highclasssocietyonly prefer to the service offered by Cloud Twleve and this somehowcreateswrong impact upon society. Glass house salon NetilHouse, Broadway Market London Organichaircare productbyproviding modern cuts and stylish hairstylesbyapplying natural haircare product Companyuses competitivepricing strategythathelpto attract range of product Salon uses professional colour images which are made locally with low carbon footprint that is free from ammonia and resorcinol free . It is only provide hair style productwhichdonot attract range of customers. Donotuseeffective marketingpromotional tools .2 SWOT analysis : StrengthsWeaknesses
Best quality is consider the strength for the company because person never comprise for the quality when the product is applied on their skin. Company uses natural ingredient product for their customers by determining their skin tone. It also offer customized product as per the need and study of each and every skin tone of a customers. Uses best and effective marketing strategy to attract range of customers towards them. Provide excellent customer experience. Company do not have skilled employees with regards to hair care and this somehow affect the overall performance of the company. As company do not have proper hair treatment scheme which somehow cause negative impact upon business performance. Opportunities The biggest opportunities company get when it start offering the hair mask product for their customers. As the demand of organic product is increases which is an opportunity for the company to invest into this in order to meet the define aim. Threats Majority of the beauty salon start focusing on organic product and that is why, increase in competition is consider the biggest threat for the firm Also, changes in customer preference is also consider another factor that affect the results of a company in negative manner. 7.3 Unique Selling Point (USP): Unique Selling Point (USP) The USP of the beauty salon “Ozzio” is Provide immediate customized product which include only natural ingredients No extra waiting time for customers best quality product with high price and appropriate ambience with effective customer service.
Section eight Operations and logistics 8.1 Production: Mustard oil Rose petals water Packaging material 8.2 Delivery to customers: Online delivery Face to face selling 8.3 Payment methods and terms: Online Offline 8.4 Suppliers: Name and location of supplier Items required and prices Payment arrangements Reasonsforchoosing supplier Mr. Joy SupireOil with£11 Rose petals with£10 CashThesupplierhelpsto select the best variety of product Mrs. Sushi jenPackaging material with £52 Cash and offline modeUsesrecyclable packagingmaterial which do not cause nay negativeimpactupon the environment. 8.5 Premises: The premises selected for this new business plan will be on rent 8.6 Equipment If being bought Item requiredAlready owned?Neworsecond hand? Purchased fromPrice Administrative equipment YesNewShop£82685 Uniformof workers NoNewShop£845.00 Bowls and dryersNoNewShop£8,596.00
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Chairand mirrors NoNewShop£9,658.00 RacksNoNewShop£562.00 8.7 Transport: as the company also offer online product as per the need, that is why, it chooses the transportation mode for that they select car, bike. Also, company hire a rickshaw which help for unloading and loading the material in proper manner. 8.8 Legal requirements: Registered a new business insurances Laws: equal opportunity activities Comply with Data Protection act Written document that contain a complete statement of terms and condition of an employment Health and safety act. 8.9 Insurance requirements: In order to set up new business, there is a need to get proper insurance and that is why, employer's liability insurance is required that covers entire business including the staff members and this in turn assist to secured the employees for any injury or illness. 8.10 Management and staff: To run a business in proper manner, around 3 staff members are required with proper uniform which in turn assist to meet the requirement of a system. Among all 3, one will be clean the entire premises and 1 will work as a receptionist and 1 will work as a helper which assist in smooth functioning of a business (Zgodavova, Sutoova. and Cicka, 2019). Proper monitoring should be reviewed in proper manner so that it will not affect the results in opposite manner. Ozzio will also provide training session to their customers in order to meet the define aim. 8.11 Additional information: Ozzio offer the product and service and also attend the customer during peak hours and this in turn assist to creates positive impact upon the customers. Also proper arrangement should be done before launching a a business so that at first day customer enjoy the services and product.
Section nine Costs and pricing strategy Product/service nameMake up items ANumber of units in calculation10 B Product/service components face powder, mascara, liner Components cost £25 CTotal product/service cost£2,500.00 DCost per unit£2,500.00 EPrice per unit£2,50.00 FProfit margin (£)£100.00 GProfit margin (%)10.00% HMark up (%)£1,000.00
Section ten Financial forecasts 10.1 Sales and costs forecast Month123456789101112TotaL AMonth nameJanFebMarchAprilMayJuneJulyAugustSeptOctNovDecem ber12 Sales forecast BProduct/service make up item £25. 00 £26.0 0 £28. 00 £30.0 0 £20. 00 £35.0 0 £36. 00 £37.0 0 £25. 00 £29. 00 £40. 00 £31. 00£362.00 CProduct/service Spa £15. 00 £15.0 0 £10. 00 £25.0 0 £15. 00 £15.0 0 £25. 00 £35.0 0 £15. 00 £25. 00 £30. 00 £35. 00£260.00 Costs forecast DProduct/service£5.0 0£6.00£8.0 0 £15.0 0 £10. 00£9.00£10. 00£8.00£7.0 0 £6.0 0 £4.0 0 £9.0 0£97.00 EAssumptions (e.g. Seasonal trends) It is assume that the sales is increases during season time such that during wedding seasons, occasion where every bride and a women go for a salon. Also, company offer customized product and during season time, this is also help to attract the customers and increases sales.
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10.2 Personal survival budget SectionMonthly cost (£) A Estimated costs Mortgage/rent2309 Council tax40000 Gas, electricity and oil460 Water rates250 All personal and property insurances7500 Clothing600 Food and housekeeping450 Telephone260 Hire charges (TV, DVD etc.)25 Subscriptions (clubs, magazines etc.)36 Entertainment (meals and drinks)200 Car tax, insurance, service and maintenance860 Children’s expenditure and presents56 Creditcard, loanandotherpersonaldebt repayments40000 National Insurance692 Other58926 BTotal costs (£)152624 C Estimated income Income from family/partner27133 Part time job56892 Working tax credit56248 Child benefits5889 Other benefits7650 Other56060 DTotal income (£)153624 ETotal survival income required (£)1000
10.3 Cashflow forecast (£) Month Pre- start123456789101112Total Month nameJanFebMarchAprilMayJuneJulyAugustSeptOctNov Dece mber Money in (£) Fundingfrom ThePrince’s Trust25600----------- Funding from other sources26892 Own funds15000 Incomesfrom Sales687952689253705146706148687592578492547892547895544789841568859625 89574 88292100 Other57989 Total Money in (£)813433689253705146706148687592578492547892547895544789841568859625895748 Money out (£) Loan repayments ThePrince’s Trust305461 Personal drawings852568845145526415547589625102145245305461 Electricity bill1601701801601501601701801801901921945604 Water bill8283848082828384868788842086
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Salary1800018000180001800018000180001800018000180001800018000180001005 Cleaning equipment815815816856871879880879871879871889216000 Credit20000200002000020000200002000010321 Total money out (£)3453701963619925392413962919536196803973239762392581929619412120000 Balance (£)660477 Opening balance4680636696176852216669076479635589565282125081635050278023108403298763360 Closing balance4680636696176852216669076479635589565282125081635050278023108403298763367757104 7757104
10.4 Costs table Cost itemWhat is included and how you worked it outTotal cost Chair and mirror Thisitemispurchasefromthemarketforthe customers because it help to provide comfortable area to the customers £25 Staff 3 staff needed in order to make the entire working environment proper and assist the owner for provide better customer service. £256.00 UniformThis help to make the business differ from other with a logo.£84.00 BowlThis is used for hair styling product and face mask which is a necessary equipment£26.00 DryerHelps to dry the hair after hair styling and washing hairs.£36.00 InventoryAll the salon equipment must be regularly checked in order to make sure that proper equipment are used.£48.00 InsurancePremises are properly insured and employees are also insured to protect from inventory.£40,000.00 Salon equipmentMake-up , face cream, brush, etc.£265.00 PayrollRegister should be maintain that helps to determine the cash inflow and outflow£246.00 Real estateBuilding is hire on rent for monthly basis£89.00 Marketing toolsSocial mediaand newspaper articlewhich help to attract range of new customers.£458.00 salaryEach month salary is paid to all the 3 staff .£18,000.00 Personal equipmentOwner purchase own item like, tissue paper, toilet paper etc.£548.00 Electricityfitting charges Proper electricity fitting should be done because salon needs proper lightening£354.00 Section eleven Back-up Plan 11.1 Short-term plan: If the premises is not in the onwer's budget, then to overcome such plan, owner take a higher loan amount so that they owe the building or a flat in which the new business plan will be easily execute. 11.2 Long-term plan: If the plan is successfully launch, owner increase the staff number and owe new building which in turn attract range of public so that it will assist to meet the define aim and sustain a brand image as international level tool. 11.3 Plan B: If the plan is not executed properly, owner may choose for hair styling business in which business will offer the natural ingredient product for hair mask which in turn assist to meet the define aim.
11.4 Plan B continued...: With the help of plan B, promotional tool is also applied such that social media, newspaper and magazine which help to attract range of new customers. Though there are many salon in UK who provide the same product to their customers by using natural ingredient but if plan B is used then, Ozzio make sure that they use high quality of product with high prices and 100% results. Legal form of a venture: The current business plan will be sole trader company because it is a medium based firm which help to provide flexibility and even owner is liable to their own decision. This in turn help to reduce the paper work and save lots of time as well (Qureshi, Saeed and Wasti, 2016).
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