logo

Business Plan for UK

15 Pages4205 Words149 Views
   

Added on  2020-01-28

About This Document

Hence, by considering such trend, business entity has taken decision in relation to opening of spa centre named as ‘The Virtual Medispa’. Hence, by considering such trend, business entity has taken decision in relation to opening of spa centre named as ‘The Virtual Medispa’. Hence, by considering such trend, business entity has taken decision in relation to opening of spa centre named as ‘The Virtual Medispa’.

Business Plan for UK

   Added on 2020-01-28

ShareRelated Documents
Business Plan
Business Plan for UK_1
Table of Contentsa. Executive Summary.................................................................................................................3b. Situational analysis..................................................................................................................4c. Strategic planning component..................................................................................................5d. Marketing plan.........................................................................................................................8e. Operations planning...............................................................................................................12f.Cash flow projections..............................................................................................................12REFERENCES..............................................................................................................................16
Business Plan for UK_2
a. Executive Summary In the recent times, preferences of people towards spa and beauty services have beenincreased drastically. Moreover, now disposable income of UK people is significantly inclined ascompared to previous times. This in turn may result into rise in disposable income of theindividual and thereby purchasing power. Usually, customers spend high on luxurious aspectwhen they have high disposable income. Along with this, people also have desire to lookbeautiful and attractive. It is the main reason due to which individuals prefer to go to the beautyclinic and spa center. From the secondary data investigation, it has been assessed that Britain’scustomer spending on spa services and beauty treatments account for £5.2 billion. Hence, by considering such trend, business entity has taken decision in relation to opening of spacentre named as ‘The Virtual Medispa’. Cited case situation clearly presents that in 2009services and offering of the firm was neglected by the customers. With the motive to improvesuch situation, owners of Virtual Group took decision in relation to offering of dermal services.However, in 2012 a patient was burned due to the treatment provided by the inexperiencedpersonnel. The reason behind this high level of care and caution is required whenever chemicalpeels are applied. Such incident has negatively affected the brand image of beauty or spa centre.The rationale behind this, injured patient had revealed such story via press. Hence, being amanager assigned with the responsibility to rebrand and re-launch the salon. Moreover, earlierbrand name was negatively affected due to the reviews provided by customers. Thus, business entity will open salon with the new brand name such as ‘New Look’.Owner ofsuch salon will commence or re-launch the business of salonand thereby offervariety ofservices to the customers such as IPL hair reduction treatments and photo-rejuvenation.Moreover, now people are facing issues in relation to hair fall etc, which in turn hasdirect impact on their beauty aspect. For this purpose,owner of the business will purchase severalequipments which in turn help it in offering better services to thecustomers. Besidesthis,entrepreneur will also appoint highly skilled nursing staffs who have ability to deliver betterservices to thecustomers. Along with this, which will be offered by New Look is skin treatmentthrough lasers, intense pulsed light etc. which in turn helps in wrinkles, spots and textures.Further, it can be summarized from the reportthat by placing emphasis in marketing campaign
Business Plan for UK_3
New Look can persuade large number of customers and thereby enhance both customerbase aswell as profitability. b. Situational analysis In order to get information about the current situationmicro and macro factors will beanalyzed by business entity. Moreover, owners of the firm can build competent strategic andpolicy framework only when they have information about internal and external environmentalaspects (Situational analysis, 2016). Hence, micro and macro analysis of New Look isenumerated below:Micro analysis Customers:By considering the current situation or market scenario it can be statedcustomers preference towards the spa services are increased with thevery high pace.However, current scenario entails thatin past customer satisfaction affected due to thelack of quality services offered by personnel (Nelson, 2016). Hence, it has been assessedthat now customers prefer to visit spa which focuses of using and offering qualityproducts as well as services. Competitors: Now, there are several competitorsare available whooffer high quality spaand beauty treatment services to then customers. Along with this, nowthere are severalhotels in London which offer spa services to the customers. It shows that high level ofcompetition takes place in the spa sector ofUK. Thus, for achieving success in thestrategic business environment owners of New Look is required to place emphasis oninnovative aspects. Macro: Pest analysisPolitical factors:Tax policies as well as rules and regulations are the main politicalaspects which have high level of impact on theprofit margin and overall strategies offirm. UK taxation policy is favorable which in turn offers high monetary benefits to thefirm. Economic factors: Inflation and deflation are the major two conditions which have highlevel of impact on the purchasingpower or capability of individual. Moreover, during theperiod of deflation customers do not have enough money for spending on luxury aspect.
Business Plan for UK_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Plan Of New Look Salon | Report
|13
|2887
|34

Health and Beauty Salon: Overview, Products, Services, Objectives, Marketing Mix
|12
|955
|48

Hair Replacement and Salon Assignment
|12
|540
|17

Business Plan Assessment
|11
|2211
|149

Entrepreneurship in Business Management: A Comprehensive Plan for a Hair and Beauty Salon
|11
|2646
|398

Business’s Product Sample Assignment
|11
|2405
|249