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Student Project: Business Plan Presentation in 2004

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This is the presentation file used in the final for the Spring of 2004 J.H. Muller Undergraduate Business Plan Competition during Babson College's annual Founders Day event.

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Student Project: Business Plan Presentation in 2004

  1. 1. GInc. Gentleman Inc. “Male Salon and Spa” Heather Tomkinson Erin Hurley Chris Gartlan Bekah Leger
  2. 2. GInc. Gentleman Inc is… • Exclusively male salon and spa • Variety of services and products Salon Spa Retail - Shampoo - Facials - Shampoo - Cut - Massage - Conditioner - Styling - Waxing - Hair Products - Treatments - Nails - Skin Care • Customer service top priority • Comfortable Atmosphere
  3. 3. GInc. Customer Experience • Personalized customer service – Customer database • Rejuvenation of mind/body • Comfortable atmosphere
  4. 4. GInc.
  5. 5. GInc. Floor Plan massage nail waxing hair salon massage nail facial / skin laundry receptionist / mgmt. retail store lounge tvs
  6. 6. GInc. Voice of Customer Out of 50 male respondents: • 100% indicated appearance was extremely important in business • Only 34% felt comfortable in a female salon • 70% expressed interest in a male salon • 15% or higher expressed interest in waxing, manicures, facials, pedicures, skin conditioning
  7. 7. GInc. Industry Trends • Well-Being (i.e. care for self, stress relief) • Capitalizing on the Metrosexual • Men: $12 billion/year on grooming products • Men: 49 % of U.S. spending on personal care services – Spending higher on a per capita basis • 29 % of spa clients nationwide are men • Industry as a whole undifferentiated and fragmented
  8. 8. GInc. Target Market Male Aged 20 – 40 Years Old Sales, Professional, or Executive Image Conscious Occupation Initial Target Open-minded Market Ambitious Income over $70,000 Currently Buys Grooming Products
  9. 9. GInc. Marketplace 2.2 Million Males in Greater Boston Area 1 Million Fit 850,000 Fit 550,000 Buy Income Occupation Grooming Target Target Products Total Initial Target Market: 110,000
  10. 10. GInc. Competitors High Variety of Services Gentleman Inc. Spas Salons Female Male Atmosphere Atmosphere Health Centers Barber Shops Low Variety of Services
  11. 11. GInc. Value Proposition - Image and Style - Image and Style - Location What What - Location - Variety of Services Gen. Inc. Customers - Variety of Services - Gentleman’s Atmosphere Offers Want - Gentleman’s Atmosphere - Service Quality - Quality What Competitors Offer - Image - Service Quality Gap in Marketplace - Location - Variety of Services - Gentleman’s Atmosphere
  12. 12. GInc. benefits • Comfort – Atmosphere • Confidence – Professional Image • Stress Relief – Better productivity at work – Health benefits • More Time – Many services in one location – Close proximity to work
  13. 13. GInc. Marketing Phase 1: Phase 3: Education of Expanding Establishment Customer Base 1 Year Opening 6 Months Phase 2: Phase 4: Establish Educate Larger Customer Base Market, within Target Generate Market Customer Loyalty
  14. 14. GInc. Operations Strategy • Highest level of quality • Experienced professional employees • Timeliness
  15. 15. GInc. Operations Strategy • Scope of Operations – In house – Ensures privacy – Appointments only • Employees – Set break and attendance policy – Ongoing training (to keep up with trends) – Incentive (Commission based pay & Tips) • Customer Database – Stores contact info & personal preferences
  16. 16. GInc. Capacity Calculations • Hours per Weekday = 14 Total Weekday Daily Capacity = 252 • Hours per Weekend = 8 Total Weekend Daily Capacity = 144 • Weekly Capacity = 1,404 Monthly Capacity = 5,616 Sample Weekday Capacity Calculation: Time per # Service Capacity Station Providers hair 0.75 3 56 massage 1.5 2 19 facials 0.75 2 37 waxing 0.5 2 56 Manicures 0.5 2 56 pedicures 1 2 28
  17. 17. GInc. Development • Acquire property (primary concern) • Hire attorney – Secure location; paperwork on licenses • Hire accountant – Business incorporation; keep start-up expenses and financials together • Renovations • Operating systems refined • Hire stylists and technicians – Experienced and reputable – Train employees • Opening
  18. 18. GInc. Assumptions • Start – Up Costs – $ 463,700 • Mostly equipment and renovations • Revenue Growth – 10% first 6 mon. 20% 6 – 12 mon. – 40% year 2 50% years 3 - 4 • Cost of Sales – 50% • Commission and retail cost of sales
  19. 19. GInc. Expected Returns Expected Returns Revenues Net Income Cashflow 3,500,000 3,000,000 2,500,000 Amount ($) 2,000,000 1,500,000 1,000,000 500,000 0 (500,000) 1 2 3 4 5 Year
  20. 20. GInc. Critical Risks • Internal – Skilled Professionals – Walk – in vs. Appointment – Cash Flow • External – Location – Customer Interest – Effective Education Marketing – Competitors
  21. 21. GInc. Thank You Questions and Comments

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