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Jessica Symington, Jenna Jeffrey, Laura Conrad, Melissa Rodrigues, Courtney Dickson, Cara O’Leary CUT ME LOOSE BUSINESS PROPOSAL.

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Presentation on theme: "Jessica Symington, Jenna Jeffrey, Laura Conrad, Melissa Rodrigues, Courtney Dickson, Cara O’Leary CUT ME LOOSE BUSINESS PROPOSAL."— Presentation transcript:

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2 Jessica Symington, Jenna Jeffrey, Laura Conrad, Melissa Rodrigues, Courtney Dickson, Cara O’Leary CUT ME LOOSE BUSINESS PROPOSAL

3  Market Approach  Marketing & Advertising  Information Technology  Merchandising  Human Resources  Financials  Growth  Conclusion  Questions? Concerns? AGENDA

4 MARKET APPROACH

5  Spring Garden Road, Halifax, NS  Located at the heart of Halifax  31, 545 people live within 1.5kms  Average age of local residents is 37.9 years old  Total daytime workforce is over 25,000 people working within 1.5kms  Pedestrian traffic is estimated 6000 people/hr and 280,000 people/week.  Per capita income is 45, 430 compared to Halifax which is 67, 973.  Easy access via public or private transit, walking, or cycling  With over 20 bus routes, 1600 parking spaces and 50 bikes racks.  The Spring Garden Area also has a focus on beautification, cleanliness and safety LOCATION

6  Mainly Business Men  years old  Halifax population (2011)  390,328 (188,700 males)  years: 170,355 (83,905 males)~ 44.46% males  Secondary Target Market  Mature Male Students  years old  Third largest population age group in HRM  4% of population TARGET MARKET

7 MARKETING & ADVERTISING

8  A electronic loyalty program  Able to redeem points on services & retail purchases  “Linked” to personal account  Rewarded with money off future products and/or services  Upon initial sign-up customer’s will receive coupons LOYALTY PROGRAM

9  A marketing tool we want to implement  Customers leave their business card in fishbowl  Monthly drawl  Winner receives 5 free haircuts to share with their co-workers and/or friends  Expands customer base & loyalty “FISHING FOR BUSINESS”

10  Plan to partner up with local charity “Phoenix Youth House”  Hold semi-annual events where all proceeds go towards the organization  Provide free services & products to the men living in the house  “Loose the Movember Mustache” partnering with Movember Canada  Men who can prove they raised money for Movember will receive a free mustache shave on December 1st CHARITABLE STRATEGY

11  Radio: played daily between 8am-10am & 4pm-6pm  90.5 CBC Radio One, adult male, public/news  Q104, adult male, classic rock  92.9 Lite, adult male, light rock  $850 one time fee to produce advertisement  Played 1xdaily four weeks prior to opening  Played 2xdaily week prior and week of opening  Online: plan to get top spot on Google under “Halifax Barber Shops” & “Nova Scotia Barber Shops”  Google will charge us based on amount of website visits ADVERTISEMENTS

12  Flyers: downtown business district & surrounding area of Spring Garden Rd  Drop off & hand out flyers to businesses  Directly reach businessmen  $30 for 25 colored, double sided flyers  Future: partnership with Halifax Mooseheads  Out of budge currently but very effective in the future ADVERTISING (CONT.)

13 INFORMATION TECHNOLOGY

14  Quickbooks ProAdvisor Software  Appointment-Plus IT SUPPORT

15  Electronic Submission of hours & services provided (Excel)  Company Website: IT SUPPORT

16 MERCHANDISING

17  Barbershop Special Wash, Cut & Style.. $ tax  Men’s Wash, Cut & Style $ tax  Men’s Wash & Cut $ tax  Men’s Cut $ tax  Tidy Up $ tax  Beard Trim $ tax  Eyebrow Trim $ tax  Ear Trim $ tax  Moustache Wax $ tax  Clean Neck $ tax SERVICES

18  Return Policy  Dissatisfied with any purchase, please contact the location directly  Would be unable to accept returns for straight razors, straight razor sets, strops or safety razors.  Would be able to accept returns for any shampoos, conditioners, sculpting paste, wax, gum, skincare/face care products if unopened and unused. MERCHANDISE RETURN POLICY

19 Straight Razor  Beginner 1.) Practice Straight Razor 2.) Pakka Wood Straight Razor 3.) Beginner Vintage Straight Razor Intermediate 1.) Custom Snake Wood Razor Strops 1.) Beginners Strop for Straight Razor Stropping and Practice 2.) Strop for Straight Razor Stropping STRAIGHT RAZORS & STROPS

20  Low End  Wet Shaving Starter Kit – Vegan Badger Brush  Wet Shaving Starter Kit – Boar Brush  Van Der Hagen  Premium and Luxury Shave Set  Luxury Line - Unscented Shave Soap  Premium Line - Deluxe Shave Soap  Luxury Line - Premium Badger Brush  Natural Boar Shave Brush SHAVING SETS, SOAPS AND BRUSHES

21  High-End  Kerastase, Arbonne, Redken for Men, Nioxin, Matrix and American Crew  Low-End  Dove for Men, L’Oreal Paris Men Expert and Nivea  Selling our products at a regular retail price of 10% below competitors PRODUCTS

22  Identifying Type of Hair  Shampoo’s and conditioners  Identifying Type of Skin  Pre-Shaving, post-shaving, skin-care and body and face wash  Identifying Personal Style  Hair styling KNOWING THE CUSTOMER - CREATING THE OPTIMAL APPEARANCE

23  Main Product Display  High-end and low-end products  American Crew  House shampoo/conditioner  Spindle Display  Straight razors, strops and soaps MERCHANDISING IN-STORE

24 HUMAN RESOURCE MANAGEMENT

25  Workopolis  Career Beacon  Kijiji  Secondary Source  Free Posting unless want “top position”  Visit our website TALENT RECRUITMENT One JobThree JobsFive JobsTen Jobs $325$253$255$225 One JobTwo JobsThree JobsFive Jobs $375$650$900$1,375

26  Able to choose schedule to suit lifestyle  Provide barber jackets (uniform)  Comfortable staff room with hot beverages  Located close to public transit  Located in location with high population  Employee incentive program: “The Top Chop”  Consistent communication with management  Access to information on the newest equipment & products RETENTION

27  Manager/Head barber $32,760  $18/hourly for 35 hours/weekly  3 barbers $70,200  50% commission  10 customers daily at an average of $15  On average each barber earns $23,400  $12.86/hour plus tips PAY & BENEFITS

28  Hire barbers who have completed a barber program or have completed a two-year apprenticeship  In house training at “Cut Me Loose”  Flexible hours allow the barbers to continue their education & training EMPLOYEE TRAINING

29 FINANCIALS

30 START UP COSTS Cost Permits and Licensing Renovations/ Rent90, Barber Shop Furniture/Supplies5, Reception Area6, Retail Store Product5, Marketing/Advertising7, Total114,989.60

31 FINANCIAL PROJECTION OF AN AVERAGE YEAR Total revenue (in thousands of dollars) Cost of sales (direct expenses)40.31 Wages and benefits32.76 Purchases, materials and sub-contracts7.55 Opening Inventory5.00 Closing inventory5.00 Operating expenses (indirect expenses) Labour and commissions70.2 Depreciation1.20 Repairs and maintenance0.90 Utilities and telephone/telecommunication4.00 Rent ($16.00psf base plus $ square feet22.00 Interest and bank charges0.75 Professional and business fees1.45 Advertising and promotion1.00 Delivery, shipping and warehouse expenses1.40 Insurance0.60 Other expenses13.90 Total expenses Net profit/loss27.62

32 GROWTH STRATEGY

33  Product Penetration  Product Development  Market Development  Diversification GROWTH STRATEGY

34  Increase amount of chairs in shop  Increase products & services  Expand current location  Open another location  Discounts & Loyalty Program  Apprenticeship Program GROWTH STRATEGY

35 QUESTIONS? CONCERNS?


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