Supply- Men's Grooming 1 Page Business Plan
Overview
Supply- Men's Grooming has a clear business objective to produce manicure and pedicure services targeted to male clients in a masculine environment. These services have been developed over 6 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 a critical activity and we are seeking to grow the number of customers that rebook religiously. 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
Supply- Men's Grooming 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 a lack of interest in the male community to partake in what they may consider to be "women's services". This is a critical issue for our selected target market of men 35-65.
The Value Proposition
Supply- Men's Grooming is uniquely positioned to deliver value to our male clients. Supply- Men's Grooming will provide customized hand and foot grooming in a masculine and relaxed environment. In order to be deliver on this value proposition, we will cater exclusively to men in all aspects from the naming of and execution of our services to the beverages and reading materials provided. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have few, in any, local competitors within the male specific mani/pedi market. We consider our only competitor to be Hammer and Nails in LA. Our understanding of this distant competitor has been used to refine our strategy and value proposition. We believe that we can compete effectively with Hammer and Nails because they are in another state. We also feel franchising of this salon is not feasible in our area as a larger salon such as Hammer and Nails will not see Southfield as financially relevant to target.
Key Strategies
Over the next 6 months our focus will be our effort to acquire new customers. To accomplish this, we plan to rely heavily on person to person marketing, use of social media, customer education pertaining to the benefits of men's pedicures as well as "word of mouth" resulting from our stellar guest services and the memorable grooming experience provided. This task will be undertaken in the context of our broader strategy to expand the number of providers we employ. These nail experts must fit the culture of Supply and will be trained extensively. 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: Open Our first location, obtain 100 rebookings and hire a manager/receptionist.
About this document
Manicures, pedicures Business Plan
This document was created by Chelsea of Supply- Men's Grooming using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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