Detailed Business Plan for New Look Salon in the USA

This report outlines the business plan for "New Look Salon," a new venture in New York City designed to provide affordable salon services to the middle class. The plan covers various aspects, including the vision and mission, business and industry profile, business strategy, products and services offered (hairdressing, makeup, spa), marketing strategy (electronic and paper-based promotion, discounts), location and layout (Rockefeller Center), competitor analysis, management team description, operational plan, and financial forecasts. The report emphasizes the importance of a business plan for organizational growth and success, especially in a competitive environment. The salon aims to offer quality services at reasonable prices to attract a significant customer base and gain a competitive advantage in the market. The marketing strategy includes electronic promotion, print media, and special offers like membership discounts. The report also addresses the salon's location, layout, and competitor analysis, highlighting the strategies needed to succeed in New York City's competitive salon industry.

Running Head: Entrepreneurship
New Look
Entrepreneurship

Entrepreneurship 1
Executive Summary
Under this report, business plan will be discussed of a new venture. According to numerous
business experts, business plan plays crucial role in enhancing the organization’s growth and in
its success. Before commencement of any business, planning is must. Business planning helps
the business owner to analyse the factors present in the business environment which may affect
the business performance either in positive or in negative manner. This report will prove the
significance of the business plan in relation with the salon business in the United States of
America. “New Look Salon” will be the name of the business and this business idea is invented
by an entrepreneur in America. Due to lack of finance, business is being started with a small
capital and at small level. Initially, salon services will be provided to 5-7 customers at once. The
basic idea behind the invention of the salon business at small level is providing adequate salon
related services to the medium class people. Due to less-income, various people cannot afford to
avail the salon services and they manage to get it in their homes only. But New Look salon
services’ main motive is to provide salon services to the middle class people at affordable rates.
Apart from the affordable rates, New Look salon has also developed the motive of providing
qualitative services to its consumers. Due to start-up, this motive will be practiced very sincerely
in order to gain the adequate number of customers. As a small business enterprise, adequate set
of promotional and the advertisement strategies will be adopted which could help the
organization to gain the sufficient number of customers.

Entrepreneurship 2
Table of Contents
Introduction......................................................................................................................................3
Vision and Mission of the New Look Salon....................................................................................4
Business and industry profile...........................................................................................................5
Business strategy.............................................................................................................................6
Products and Services......................................................................................................................7
Marketing Strategy..........................................................................................................................8
Location and Layout........................................................................................................................9
Competitor Analysis......................................................................................................................10
Description of the Management team............................................................................................11
Plan of Operations.........................................................................................................................12
Financial Forecast..........................................................................................................................13
Loan or Investment Proposal.........................................................................................................14
Conclusion.....................................................................................................................................15
Appendices....................................................................................................................................16
References......................................................................................................................................17

Entrepreneurship 3

Entrepreneurship 4
Introduction
The idea which is invented to introduce a new business in the market is known as business plan.
This is the official term and under this term various processes are included such as planning,
forecasting, raising funds, opting advertisement and promotional techniques, etc. Apart from
these components, business plan also includes the goals and the objectives set up by the
management of the organization. Under this report, New Look Salon’s business plan will be
discussed which will be introduced in the New York City of United States of America. Due to
the prime location of this city, organization has planned to adopt various strategies through
which all the tasks of new business could be could be executed in an appropriate manner. The
major objective of the organization is to provide adequate salon services to the medium class
people whose earnings are not enough to consume salon services. Hence, the prices of the
services offered under New Look Salon will be set in relevance with the medium level income
group.

Entrepreneurship 5
Vision and Mission of the New Look Salon
Every organization develops their goals and the objectives to survive in the dynamic business
environment. The basic motive behind developing these goals is that, organization set targets for
them to reach to the targets in a particular period of time and if those targets are achieved
adequately within the set time period then it will be marked as successful organization. Apart
from this, every organization set ups their business with an assumption of long run survival and
this assumption is also included in the mission of the organization (Lee, Barker & Mouasher,
2013).
The same missions are being developed by the management of the New Look Salon. While their
some objectives and goals differ from general organizations, rather operating for profits, New
Look Salon has decided to provide experience of salon services to the people who generally do
not opt for salon. Despite being this motive, organization needs to adopt an effective pricing
strategy through which organization could be able to recover its cost of production as well as the
other expenses of the salon because operating the functionalities in the New York City are very
expensive (Compact, 2015).
Apart from these missions, salon’s management has also invented various ways through which
those missions could be easily achieved. While developing the visions in order to meet with the
mission set up by the management of the New Look Salon, appropriate actions are being taken.
Company sets vision in order to achieve the future objectives and it is set up from the perception
of achieving adequate growth. It is a road map through which organization could reach to the

Entrepreneurship 6
desired destination set up by the management of the New Look Salon (Yoon, Lee & Chang,
2017).

Entrepreneurship 7
Business and industry profile
The major activity of a salon is hairdressing services, make-up, cosmetic services and massage
and therapy services. These services can be consumed by ladies as well as by men. Under this
industry, organization needs to provide adequate training to its staff members in order to deliver
the adequate services to its consumers. As this industry serves the services in relevance with the
human body and a small mistake could harm them. Hence, training measures and using quality
materials are very crucial aspect of this industry. Appointment of the staff is also done on the
basis of knowledge of the candidate in relevance with the salon services. Qualification does not
impact much on these types of jobs but talent plays important role. For every part of the body,
specialist is appointed and amongst them, hair stylist, skin specialist, etc. person are appointed in
order to provide adequate types of services which are offered under a salon. New Look Salon
will not be able to appoint separate person for all every unique service. But they can appoint an
experienced candidate who should be capable enough to serve the consumers with adequate type
of services (Martin, 2015).

Entrepreneurship 8
Business strategy
Business strategy is the procedure through which organization could be able to achieve its
desired goals and the objectives. In relation with the scenario of New Look Salon, the major
objective is to provide salon services to the medium class income people and apart from them,
anyone can avail the services, there will be no restriction (Scholes, 2015). Under this method,
appropriate and effective strategies will be adopted in order to implement those in the workplace
of New Look Salon in order to achieve the adequate amount of goals for the organization. Apart
from this, business strategy of the New Look Salon will be efficient enough because they have
planned to operate their functionalities in the most expensive city of the world. Hence, in order to
achieve the desired goals for the organization, strategies opted by the management needs to be
efficient as well as effective enough to reach to the desired destination (Chang, 2016).

Entrepreneurship 9
Products and Services
Under New Look Salon’s premises, unique types of services as well as beauty products are
available. In order to attain the goals for the organization, New Look Salon has adopted the
adequate quality standards through which customers can satisfy their requirements in relevance
with the salon. Apart from salon products that will be used for grooming the customers, they are
selling the beauty products through which consumers can treat them at their homes only. Beauty
products such as face creams, body lotion, hair serum, etc. are provided to the consumers. New
Look Salon’s some services are skin treatment, bridal and groom’s packages, hair treatment,
massage services, spa, etc. are provided and at the cheapest price in order to attain the customer’s
attention. This will also help them to grow in their industry as well as the chances for the
expansion of the business arises (Hoskisson, 2009).
Through these products and the services provided by the salon to their consumers, a trust level
against the organization is built in the consumers. Along with the trust level, it also helps the
organization to attain the competitive advantage in the dynamic business environment (Glowik &
Smyczek, 2011).

Entrepreneurship 10
Marketing Strategy
The major marketing will be done through the electronic medium of the promotion and the
advertisement because these are the trending methods as well as it also helps the organization to
cover more market area in relevance with other platforms of the promotion. Apart from the
electronic medium of promotion, organization will also adopt the paper medium for promoting
their business in the domestic market. As the products and the services will mainly be consumed
by the local public and especially by the medium class income group and this is because they
will promote their salon with this tag line only. In promotional campaign of the New Look salon,
price list will also be displayed in order to more number of consumers. Despite being in the New
York City which is known for being expensive, they are providing salon services at reasonable
rates and this will be the key aspect through which they can attain more number of consumers
(Gruca & Rego, 2009).
Apart from this, they have also included the discount and offer strategy in their marketing
strategy in order to promote their salon in the market. On taking the membership for one year,
organization will provide an additional discount of 10% and all the services consumed by the
customer in that one year will also be charged at 5% discount. This offer will be for a certain
period of time and this is specially added in the marketing strategy of the salon to attract more
number of people and to gain competitive advantage in the competitive business environment in
New York City (Farahmand, 2011).

Entrepreneurship 11
Location and Layout
Location of the New Look salon is quite attractive as well as it has the capability to gain more
number of consumers. New York is the place where large number of public prefers to adopt
salon services irrelevance to their income, age, etc. But normal and medium income group of
people prefers to opt for reasonable salon while high standard people prefer to consume the
services of high class salons. In relation with the New Look Salon, their location and the layout
of the salon are quite attractive as well as reliable. It will be capable enough to gain number of
consumers as well as to beat its competitor’s strategies. New Look Salon will operate its
functionalities from the Rockefeller Centre which is known as the iconic midtown business
complex of New York City. This location is amongst the most attractive and famous places of
the New York while it will also be easily reachable for most of the public (Drummond, Ensor &
Ashford, 2012).
These are some of the strategies which will be considered as the location and the layout services
of the organization and these are crucial element of business plan especially for a new business
idea. Apart from this, infrastructure of the salon will not be less than a high class salon and it will
be known as the compatible and reasonable salon across the New York City (Cool & Schendel,
2010).