Entrepreneurship: A Business Plan for a Nail Salon in London, UK

This report presents a detailed business plan for a nail salon, focusing on entrepreneurship principles. It begins with an executive summary, outlining the business concept, target market, and financial highlights. The introduction sets the stage by discussing the role of entrepreneurs, the importance of business plans, and market analysis. The main body of the report explores the concept of entrepreneurship, innovation, and their interrelationship, followed by a comprehensive business plan. This includes business specifics like vision, mission, objectives, and location, along with market and competitive analyses, product/service descriptions, and SWOT analysis. The operations plan covers service delivery, daily operations, and marketing strategies. The report also provides a conclusion and references, offering a well-structured overview of the nail salon business venture.

Entrepreneurship

Table of Contents
Executive summary...............................................................................................................................3
Introduction...........................................................................................................................................4
Main body.............................................................................................................................................4
Concept of entrepreneurship and its interrelationship with the innovation...............................4
Business plan....................................................................................................................................5
Conclusion...........................................................................................................................................11
References...........................................................................................................................................12
Appendices..........................................................................................................................................13

Executive summary
The executive summary is a thorough brand of the company proposal unfolding the
corporate, trials with resolution, aim market and monetary highpoints. In the portrayal here is
a debate of the corporate strategy. There is a framework of the Nail salon where numerous of
the person invest on the beauty treatments to look attractive and respectable beautiful. To the
run the successful venture the business plan is required which provides the direction. The
start plan is in UK providing a range of services and quality to have best customer
satisfaction.

Introduction
The setup corporate impression derives in the attention of the businessperson through
advanced and capitals that go into a leading reason contributive novel commercial
origination. The businessperson in the commercial is single who takes the competence, skills
and aptitude. Envisioned for company setup it wants to identifying the capitals which
contains important the lawful corporate structures, and finance. Trendy which cataloguing the
financial requirements in command to deposit entirely the wanted business approaches,
segmenting the professional and performing the reasonable strategies in petition to generate
the individuality of the corporate in the marketplace (Abuzjarova, M.I., 2018). The private
enterprise covers the objects exploiting their applications in the company. Upgrading is a
detailed apparatus for the executive who gives the profit of yield benefit of the beginnings for
assorted business and amenities. The entrepreneurship remarks to a ground of company
which proposals considerate of openings in the marketplace for production of slightly novel
such as innovative creation or services, original market etc. this is shaped over the
manufacturer who is distinct being who receipts jeopardy and vagueness for the willpower of
income expansion. The learning is founded on the instance study where an entrepreneur
progresses a business plan owing to the harm of his work which he deliberates himself as a
speculator. In the learning the deliberated matter is connected to the profession particulars
and creation, entrant examination, advertising and auctions policy and financing sources.
Main body
Concept of entrepreneurship and its interrelationship with the innovation
In the direction of consume a supportable corporate in the economy it trusts on private
enterprise and origination. It is important for the start-up of the company by consuming
groundbreaking explanations to the encounter the small-scale environment tasks. The
entrepreneurship tenure is connected to an individual who has the outlook of generating
somewhat innovative in pioneering and improved mode. The being assumes a precise
development. Entrepreneurship can remain pragmatic as classifying alteration, subsequent
occasion, fascinating on hazard and responsibility, transforming, creation improved
(developed worth) practice of possessions. While the word origination in company comprises
an amendment in a commodity involvement, provision, corporate model, or maneuvers that
powerfully growths the acquaintance of a huge number of shareholders. It transports the

operative chances (Ahmad, S.Z and et.al., 2018). The tycoon also inspects on the micro and
macro issues of the atmosphere which consumes an inspiration on the corporation. It can be
supposed that entrepreneurship and modernization rapports drive collected and remain reliant
on respectively additional. The entrepreneur matures a business plan for its newfangled
undertaking seeing the countless happenings.
Business plan
The corporate strategy defines the inscribed statement of commercial for impending
through the goal line of essential prevailing market location and tactics and strategies, drives
and the approaches cast-off by the establishment. In an article it designates pardon to
conspiracy and in what way to proposal for reaching somewhat. The company strategy
assistances in achievement number of responsibilities and actions for persons who engrave
and recite them. It is besides rummage-sale by investment-seeking tycoons for
communication their imagining to credible depositors. The business plan might too be
secondhand by businesses who remain tedious to request imperative workers, visualization
for original occupational, aptitude through workers or simply thoughtful in what way to attain
the businesses recovering. As its summaries the new business that so-called entirely the
judgments that how the corporate will be efficacious to talented their duty as professionally.
It drives likewise stimulate frequent disbursement beforehand a company that has
documented a presented path a record. There is an impression of the business plan that is
enduring as a Nail salon in London, UK as in this corporate the exertion is of distributing of
range of nail services to their clients or visitors (Atang, E.A., 2018).
Business specifics-
The profession proposal outlines suggestion that ambition be recurrent by their
relationships by which here is the understandings of the basis as relates to the advanced new
business company placement. It drives encompass abundant arrangements of happenings and
prediction such as composition of the economy state and generous of company to begin or
where toward commence. The nail salon will emphasis on carrying specialized nail facilities
in the pleasant atmosphere. Its determination display case an elegant interior as well as a full-
featured for the future zone fortified through TV screens and at-demand appetizers. The nail
salon likewise trades a variability of finest nail care items which purpose be on exhibition in
the in the offing area (Château-Terrisse, P and et.al., 2018). The company will custom huge
brilliance of commodity and drive distribute facilities to the clients to grow prejudiced in the

route of the product equity. The nail salon in today’s era is well known establishment which
is existence introductory through abundant of the peoples. In corporate characteristic it
similarly describes the visualization, mission and purposes of the startup company.
The vision of the nail salon is to remain a exclusive beauty salon and spa
understanding that unceasingly ambitions the manufacturing values in teaching/acquaintance
though development the specialized profession growth of its employees. The mission
statement is to improve prettiness and self-assurance in our customers by provided that the
uppermost gradation of client facility, by means of ground-breaking systems and greater
products. The intention to assist our customers by a great knowledge after all features of the
beauty salon. The visitors are sensation greeted and consume a unforgettable visit over our
entrances who strides. It is attained finished constancy, skilled information, concentration and
versatile kind client services. The standards that initiative in nail salon are collaboration,
desire, knowledge/tutoring, and uprightness/truthfulness and broad-mindedness (Dou, X and
et.al., 2019).
The objective of the nail salon is to increase the profits by 10% each year through
limiting the expenses and lowering the monthly bills. The client retention is the main
objective by offering great services of the nail salon and offering some times discounts to
give them better satisfaction. The nail salon also aims to have more customers with high
footfall all day.
Place-
The nail salon is to located in the London, UK which is a beauty salon offering
several services to the customers. The location of nail salon is actual good-looking and
stunning consumes taking an inordinate seating prearrangement privileged and external so
that clients can relish themselves. The place will be set near the leaving train station, center of
town so that customers get outlook of the salon and delivering adequate parking facilities. In
the set of the nail salon there will be stylist booths, reception desk, pedicure chairs and
waiting rooms for the clients (Emontspool, J and et.al., 2017).
Market / Corporate analysis-
An industry examination discussion to the stretch of the corporate scrutiny that
resolve relates to a constituent of the company plan that will working to permit the profitable
probability of the commercial. The industrial study supports the incidence of the intentional
casual of the market inspection that approves the inevitability of the profitable market for the

commercial goods or amenities of salon. The company will target the middle class by
offering high quality services and the persons observing for a nail and beauty services. The
target will be all the class of the age group, students, professionals etc. the segmentation will
be for every class offering according to them services. The firm will make effective use of
personnel to gain the economies of scale by allowing the professional to spend their time in
the performance of nail services and revenue generation (Flori, G., 2018).
Product/Service description
The nail salon which is a beauty salon contribution numerous services like manicures,
pedicures, and nail enrichments to the clienteles. The variabilities of choices in the nail salon
providing contain acrylics, silk or fiberglass wraps, French manicures, polish, and pedicures
to the UK clients to increase their gorgeousness. It also performs the services of gel nails,
hand and foot massages. The company will attribute finest nail products in-store from fine
recognized products which endure to apprise its contribution in command to deliver the latest
nail products to its consumers. The featured brand will contain such as Essy, Nails Inc., RGB.
Competitive analysis
The examination will help in identifying the direct and indirect competitors. The
customer procures the other products from the supermarkets or retailers like nail filer, nail
polish etc. in case of the direct competitor the detail of the competing nail salon is required.
The other salons have the high skilled and professional in the nail services. Competitiveness
study can be prearranged in the company by sighted class of participants that are certainty
provided that possessions in commercial. The worth edifices can be comprehensive through
determining queries of the patrons in the nail salon that attentions on the problems that stay
practicality apprehended by the consumers so that they capacity not aspect any subjects.
There are abundant competitors who remain generating publicity by immeasurable resources.
As the nail salon industry is enormous in rivalry marketplace which suggestions the value to
patrons for exchange. The study of SWOT analysis is done of the nail salon that will help in
competing with the rivalry in the market economy (Hervieux, C and et.al., 2018).
 Strength- The advantage for the nail salon will have the target range of customers
offerings services and training to the beauty therapists. It is associated with fashionistas
who wants to make their nails stylish. It too delivers speedy services and uses the best
brand nail products. The nail salon can receive high turnover edge by capitalizing in vast
investment.

 Weakness- The drawback can be in the range of prices as the prices of the beauty
products is high than other products which limits the target group. The limited services
offering and limited scope of the business is also a drawback for the nail salon. The
shortage of underprivileged structure and lethargic request reduces the effectiveness and
development as fewer clients are elaborate which decrease the worth (Houda, J., 2018).
 Opportunities- The nail salon have chance to increase the target group off young
working women professionals. The purchasing power parity increased leading to better
lifestyle and additional expenditure on cosmetics. The market network is expanded with
the product selection leads to high growth.
 Threats- The intense competition from other salons offering wide range of services is a
threat for the company. The increment in the prices of raw material and services. The
magnetism of the clients to other salons consumes the threat for the novel corporate.
Variation in the customer issues also distress the company.
Operations Plan
The operational proposal describes pitch in which encompasses of information relates
to the applicant’s inspection and picture of how facilities and goods ambition be dealt to the
patrons and in what way delivery must yield place. Challengers can be leisurely by their
métier and faintness. The robust opinion of the salon of the competitors will be that they
assign their fineness of belongings by online booking and assortment accessible products.
With the use of digital podiums, the products and services can be strongminded and by the
period of covid 19 pandemic salons have shaped this as fortuitous to distribute client the
facilities as close to them. The day-to-day operations are primarily carrying out on the
appointment basis in the salon. The waiting customers divert themselves in the lounge which
features the television and magazines. In the operational plan the services function contains
the manicures, pedicures, gel nails etc. in the administrative function the services are
provided regarding the sourcing and storing products, hiring and training staff, customer
services. The nail salon also performs the functioning of maintain personnel (Lyngsie, J and
et.al., 2017).
Risk and Contingency plans
Risk mitigation is the process of categorizing, assessing and ordering the threats that
creates after abundant centers regarding vagueness in worldwide markets, danger of
development catastrophe, legalized responsibilities, accidents, gratitude risk etc. Risk
vindication is a method regarding the achievement for reducing a gathering experience to

probable hazard which motives a grave damage or turnover or even liquidation. The rules,
taxes and corporate performs diversity the effort multifaceted which increases the level of
risk. There are numerous approaches to minimize the danger.
 Assessing the political and business landscape- By developing an vigorous commercial
plan the political ailment and marketable atmosphere can be thoughtful which drive
provision in significant the request of the creation. There necessity be the valuation of
transference and circulation association to consume satisfactory provision.
 Choose the right business partner- The jeopardy in commercial can be assuage if the
companion consumes particular sympathetic of the resident principles and commercial
performs. The precise partner managements in the strategies and societal prospects.
 Hiring experienced local talent- To protection the conquest in the business well-
informed individuals must remain hired who consume the understanding of business
visualization, approaches and goals (Mercado Santana, A.I., 2018).
 Developing a business model for the market- The enormous states have innumerable
market segments and physical areas which involve a multi part prototypical as healthy as
the exact policies. The typical reflects altogether the straight and secondary expenditures
with the international employment.
Sales and marketing strategy
The notion of the upgrade is actual widespread in relationships which includes the
determination of customer needs and complete done gratify persons necessities. The
publicising dated is associated by the procedure of receiving and selling the business
activities of products and facilities which remain returns between the producers to operator.
The marketing combination is a corporate traditional revealing the publicity expedient and
customary of activities discarded through the formation aimed at the attainment of the
fortitude in the purpose market. The marketing mixture is castoff for the promotion of
diversity regarding the 4Ps of product, price, place and promotion.
Product- It articulates what the nail salon wants to indiscriminate to the customers aimed at
their practise and alimentation. Creation summaries an object which suggestions a lowest
level of exhibition in the supervision by the public sale of the possessions.
Price- It precises the value of the formation or amenities uttered in the relatives of currency.
Its frameworks the method of preservative the worth of possessions and amenities through
the creation sighted the question such as charge of production, appeal of the formation, nature

of competitiveness. The appreciating aids in cultivated the invention later the others and
advances the depiction of product (Omer Attali and et.al., 2017).
Place- It indicate the physical enterprise of properties subsequently solo dwelling of
manufacture to dwelling of indulging. It produces the home worth as possessions are located
to the required region. It is definite significant for assembling and distribution of goods. It
brands the preferment station for conveying the possession from vender to procurer.
Promotion- It references to altogether such activities of the production such as advertising,
specific promotion; sales progression and publicising which remain thoughtful to
encouragement the client performance. The value of promotion has reddened owing to the
snowballing competition. It begins altogether those proceedings that provision in creation
recognized the commerce’s yield (Ratten, V., 2018).
Finance and funding plans
It comprises the bases of reserves to sanctuary the development of the corporate. The
salon supports the balance sheet, revenue statement and cash flow statement to distinguish the
growing. The corporation customs abundant package alike worksheet to withstand the
dealings and information. Here are varied sources of finance depending upon the nature and
the period period of procurement the assets. The dissimilar sources of funds comprise the
wealthy and low-priced reserves with the inside and outside sources of capitals. In instruction
to money the commercial doings of Nail salon the monetary bases of the corporate are
deliberated as beneath-
 Trade credit- It is a short-range finding of the funding for nail salon in direction to obtain
the belongings since the provider by instant gainful of money. It is explanation owed
recognition pinched on acquisition complete by the purchaser. It is a relaxed preparation
decided on exposed version source.
Strengths: It is effortlessly offered to the small firms provided that suppleness plateful in
the development of the stable auctions.
Weakness: The hazard is confronted by dealers and purchasers in footings of excellence,
or alleviate, conveyance etc. It includes the hitches in sympathetic the standings and
circumstances (Redford, A., 2020).
 Borrowing from banks- The Borrowing from the bank assistances to allocate monetary
resolution to commercial for together medium- and short-term foundations of investment.
Where, nail salon takes the financial money from different monetary organizations for the

period of 3-7 years which is too called as period loan or demand advances. The financial
establishment in UK transmits the monetary sustenance proposals the advance to the
corporate over or deprived of any safekeeping.
Strengths: The attention on obligation is duty subtracted and moneylenders are salaried
primary and interest amount. It is a Extraordinary method of summit the monetary
supplies of the industries.
Weaknesses: The establishment is obligated to compensation secure interest and
principal amount which can peaks to bankruptcy. It upsurges the monetary influence
which increases the price of impartiality to the company. It is a luxurious technique for
the advance quantity.
Management team
In creation the corporate plan for the salon it entails the management team to achieve
all the facilities and processes. The team member consists of the owner, manager, nail
technicians, professional nail treatment specialist, receptionist and store manager where the
daily activities are managed and handled by the allocating responsibilities and obligation
(Smith, K., 2017).
Conclusion
The conclusion has been made from the learning that origination strategy is restrained
as typically an emblazoned roadmap after the business from circulation, determined and
financial sections. The novelist distinct the private enterprise as making somewhat original by
the swapping of capitals from inferior to highest worth happenings. The peril must be
followed by establishing and with financial proposal of source for controlling the result. The
commercial calculates the relations to classify the liquidness, success and competence in the
commercial.

References
Books and Journals
Abuzjarova, M.I., 2018. Tendencies, law of development and economic content of innovative
entrepreneurship. Modern Economy Success, (1), pp.43-50.
Ahmad, S.Z and et.al., 2018. An evaluation of teaching methods of entrepreneurship in
hospitality and tourism programs. The International Journal of Management
Education, 16(1), pp.14-25.
Atang, E.A., 2018. Business plan on plus size clothing online store (Doctoral dissertation,
Universiti Teknologi MARA).
Château-Terrisse, P and et.al., 2018. L’usage du business plan dans des fonds sociaux: les
apports du rôle de médiateur. Comptabilité-Contrôle-Audit, 24(3), pp.67-95.
Dou, X and et.al., 2019. Outcomes of entrepreneurship education in China: A customer
experience management perspective. Journal of Business Research, 103, pp.338-347.
Emontspool, J and et.al., 2017. Cross-border entrepreneurship in a global world: a critical
reconceptualisation. European Journal of International Management, 11(3), pp.262-
279.
Flori, G., 2018. Business plan for an Autonomous Driving Formula car in the FSG17
competition.
Hervieux, C and et.al., 2018. Framing social problems in social entrepreneurship. Journal of
Business Ethics, 151(2), pp.279-293.
Houda, J., 2018. Retracted: Business plans simplified into CUSB canvas, its function and
usefulness: Example of a business plan to promote a heritage site in Morocco. Journal
of Fundamental and Applied Sciences, 10(4S), pp.422-427.
Lyngsie, J and et.al., 2017. The more, the merrier? Women in top‐management teams and
entrepreneurship in established firms. Strategic Management Journal, 38(3), pp.487-
505.
Mercado Santana, A.I., 2018. Self-efficacy of the Mexican millennial generation: an
investigation on training programs in Mexico, business plan.
Omer Attali and et.al., 2017. Initiating consensus: Stakeholders define entrepreneurship in
education. Educational review, 69(2), pp.140-157.
Ratten, V., 2018. Sport entrepreneurship: Developing and sustaining an entrepreneurial
sports culture. Springer.
Redford, A., 2020. Property rights, entrepreneurship, and economic development. The
Review of Austrian Economics, 33(1), pp.139-161.
Smith, K., 2017. Three Ouachita students honored as finalists at Governor's Cup business
plan competition.

Appendices
BUDGET