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Business enterprise and Entrepreneurship.

Extracts from this document...

Introduction

Jhon Cena Business enterprise and Entrepreneurship H105BSS Contents 1 EXECUTIVE SUMMARY 3 1.1 COMPANY DETAILS 3 1.2 KEY PEOPLE 3 1.3 PRODUCT AND SERVICES AND CUSTOMERS PROBLEMS TO SOLVE 3 1.4 MARKET RESEARCH 4 1.4.1 Present market performance 4 1.4.2 Future market performance 4 1.4.3 Present market performance 5 1.4.4 Future market performance 5 1.5 STRATEGIES FOR SUCCESS 5 1.6 MANAGERIAL AND TECHNICAL EXPERIENCE 7 1.7 FINANCIAL 7 1.7.1 Start-up required 7 1.7.2 Forecast 7 2 VISION AND MISSION STATEMENT 8 2.1 ENTREPRENEUR'S VISION 8 2.1.1 Mission statement 8 2.2 THE BUSINESS 8 2.3 BUSINESS VALUES AND PRINCIPLES 9 2.4 A MARK ABOVE THE REST 9 3 INDUSTRY PROFILE AND OVERVIEW 9 3.1 INDUSTRY ANALYSIS 9 3.2 INDUSTRY BACKGROUND AND OVERVIEW 9 3.3 MAJOR CUSTOMER GROUPS 9 3.4 REGULATORY RESTRICTIONS 9 3.5 SIGNIFICANT TRENDS 10 3.6 GROWTH RATES 10 1 Executive Summary 1.1 Company details Name - cenas Address - 126 bromcroft, aalserly, Basingstoke b21 4jw Telephone number - 02476 440653 1.2 Key people Manager: Vanisha Patel Full-time staff/ Part-time staff: As the sector grows, there is an increased demand for qualified staff to manage such facilities. When I am looking for staff I will be focusing on the development of cognitive, leadership, interpersonal and social skills needed to perform effectively in this Spa manager qualification Bachelor's degree with a concentration on business administration or accounting is preferred. At least 1 year of spa or beauty therapy experience. Thorough knowledge of the full range of spa services and therapies needed. Fully-qualified and have BABTAC accreditation industry. 1.3 Product and services and customers problems to solve Breakdown of expected available treatments: Gymnasium Spa pool Steam room Sauna Set classes: aerobics, yoga, Pilates Hair salon Nail treatment Alternative treatments; Indian head massage, acupuncture Make-up Tanning Service for special occasions plus set packages (wedding packages) Possibility to expand business to an 'at home service' Fitness classes - taking place throughout the day; to target specific people. ...read more.

Middle

In order to repay my loan, I got a monthly figure from a website with Ocean finance. This gave me a total figure of �421.46; this was to workout my total repayment in the time I had to pay the loan back plus interest. I then multiplied this by 180 which gave me an answer of �75862.80. I used this number and took �45.000 away, the amount of years I have to pay it back. The total of this was �30862.80 which I divided by 180; this tells me I have 15 years to pay it back. My total of �171.46 was multiplied by 12, and my final answer of what needs repaying plus interest and capital is �2057.52. My interest rate is a total of 7.9% 2 Vision and Mission Statement 2.1 Entrepreneur's vision The business would like to be at the forefront of beauty treatment, giving a high quality of service at eventually premium prices. 2007 - During this year I will buy a large property on a busy high street situated on the outskirts of Coventry City Centre. This will be refurbished and turned into a simple hair and beauty salon, targeting women as an established market and men as a growing market. However the company in the long term would to be known as family friendly. I will be selling products as well as having health facilities such as Colonic Hydrotherapy, Hypnotherapy, Osteopathy Pilates and Yoga. I will also be adding a fitness gym on the second floor. 2012 - I hope to have a successful business and have made enough profit to continue for the long run but also to expand or rebuild another Health farm. At the moment I am looking around in Leamington Spa. The reason I have chosen this area is that I would like to build a more upper-class type health farm; the residents in the area are generally wealthy people. ...read more.

Conclusion

* Owner Enthusiasm. W ~ weakness When the company does not have a particular strength, it can be considered as a weakness. * Small company * Small market share * High cost structure * High loan Marketing research While looking at Coventry as a whole, I found a database called 'Census' which allowed me to look at the population concerning males and females. In Coventry there are 300,848 people, (149,115 males and 151,733 females) this result is in my favour as although I am looking to expand the business to cater for male clientele I will be expecting the majority of the initial trade to be female. However this statistic shows there are definite opportunities in both the male and female health beauty market. Discounts When I feel I have made an established cliental, I will hold a day for the elderly where they will have half price treatments throughout the day one day a month to start, and see how things pick up. I will also be holding special offers especially to market the business to the elderly. When I feel I have strong customer base with the elderly I plan to increase the one day a month treatment to once a week and offer other type of incentives. I will also sell vouchers at discount prices to be given as gifts. Reference http://reports.mintel.com/sinatra/reports/search_results/show&&type=RCItem&page=0&noaccess_page=0/display/id=219239 Accessed 11th April 2007 http://www.familytravelguides.com/articles/health/spastudy.html Spa Industry Shows Incredible Growth Accessed 13th April 2007 http://www.spaseekers.com/index.php?main=pages&page=129 Accessed 12th April 2007 http://www.bcftcs.ac.uk/asp/CourseTemplate.asp?CourseID=76 Accessed 15th April 2007 http://www.prospects.ac.uk/cms/ShowPage/Home_page/Explore_job_sectors/Sport_and_Leisure/as_it_is/p!ebeeed Accessed 15th April 2007 http://www.salonbuilder.com/salon-business-startup.asp Accessed 12th April 2007 http://www.budapestweek.hu/newsites/trends/trends08.html Accessed 14th April 2007 http://www.oceanfinance.co.uk/ Accessed 10th April 2007 http://www.duport.co.uk/company-formation/limited-companies.htm Accessed 10th April 2007 Barrow. C. Barrow. P. Brown. R. (2004) 4th Edition, the Business Plan Workbook, London, England Bragg. A. Bragg. M. (2005) Developing New Business Ideas, Glasgow The Daily Telegraph, (1995) Eleventh edition, How to Set up and Run Your Own Business, London, England Which? Consumer Guides, (1983) 1st edition, Starting your own business, London, England ?? ?? ?? ?? Business enterprise and entrepreneurship - 1 - ...read more.

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