Black Royal Hair 1 Page Business Plan
Overview
Black Royal Hair has a clear business objective to distribute Hair Extensions products. These products and execution plan have developed and re-developed over the last 3 months with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
As a key component of our growth strategy, we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.
The Customer
Black Royal Hair has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as some customers may not like the hair. This is a critical issue for our selected target market of women or men who wear extensions.
The Value Proposition
Black Royal Hair is uniquely positioned to deliver value to women or men who wear extensions. "Black Royal Hair will provide affordable quality long lasting hair." In order to deliver on this value proposition, we will never settle until we have the best and most reliable supplier. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Hair Extensions market. We consider our key competitors to be: Her Imports, Snob Mob, etc. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Her Imports, Snob Mob, etc by our marketing strategy, will, and determination.
Key Strategies
Over the next 6 months, our focus will be to begin marketing, promoting, and finishing the website. This task will be undertaken in the context of our broader strategy to expand from just hair to hair products and ultimately a beauty everything supply store. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Launch business Gain 3+ customers per month Launch new products
About this document
Hair Extensions Business Plan
This document was created by Chianti of Black Royal Hair using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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