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Cut Me Loose Business Proposal

Cut Me Loose Business Proposal. Jessica Symington, Jenna Jeffrey, Laura Conrad, Melissa Rodrigues, Courtney Dickson, Cara O’Leary. Agenda. Market Approach Marketing & Advertising Information Technology Merchandising Human Resources Financials Growth Conclusion Questions? Concerns?.

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Cut Me Loose Business Proposal

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  1. Cut Me LooseBusiness Proposal Jessica Symington, Jenna Jeffrey, Laura Conrad, Melissa Rodrigues, Courtney Dickson, Cara O’Leary

  2. Agenda • Market Approach • Marketing & Advertising • Information Technology • Merchandising • Human Resources • Financials • Growth • Conclusion • Questions? Concerns?

  3. Market Approach

  4. Location • 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

  5. Target Market • Mainly Business Men • 25-55 years old • Halifax population (2011) • 390,328 (188,700 males) • 25-55 years: 170,355 (83,905 males)~ 44.46% males • Secondary Target Market • Mature Male Students • 20-24 years old • Third largest population age group in HRM • 4% of population

  6. Marketing & Advertising

  7. Loyalty Program • 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

  8. “Fishing for Business” • 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

  9. Charitable Strategy • 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

  10. Advertisements • Radio: played daily between 8am-10am & 4pm-6pm • 90.5 CBC Radio One, adult male, public/news • 104.3 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

  11. Advertising (Cont.) • 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

  12. Information Technology

  13. IT Support • QuickbooksProAdvisor Software • Appointment-Plus

  14. IT Support • Electronic Submission of hours & services provided (Excel) • Company Website: http://cutmeloose.webs.com

  15. Merchandising

  16. Services • Barbershop Special Wash, Cut & Style.. $39.00+ tax • Men’s Wash, Cut & Style........................$28.00 + tax • Men’s Wash & Cut..................................$21.00 + tax • Men’s Cut .............................................. $15.00 + tax • Tidy Up....................................................$10.00 + tax • Beard Trim.............................................. $10.00 + tax • Eyebrow Trim.......................................... $10.00 + tax • Ear Trim................................................... $10.00 + tax • Moustache Wax...................................... $10.00 + tax • Clean Neck............................................... $5.00 + tax

  17. Merchandise Return Policy • 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.

  18. Straight Razors & Strops 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

  19. Shaving Sets, Soaps and Brushes • 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

  20. Products • 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

  21. Knowing the Customer - Creating the Optimal Appearance • 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

  22. Merchandising In-Store • Main Product Display • High-end and low-end products • American Crew • House shampoo/conditioner • Spindle Display • Straight razors, strops and soaps

  23. Human Resource Management

  24. Talent Recruitment • Workopolis • Career Beacon • Kijiji • Secondary Source • Free Posting unless want “top position” • Visit our website www.cutmeloose.webs.com

  25. Retention • 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

  26. Pay & Benefits • 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

  27. Employee Training • 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

  28. Financials

  29. Start Up Costs

  30. Financial Projection of an Average Year

  31. Growth Strategy

  32. Growth Strategy • Product Penetration • Product Development • Market Development • Diversification

  33. Growth Strategy • Increase amount of chairs in shop • Increase products & services • Expand current location • Open another location • Discounts & Loyalty Program • Apprenticeship Program

  34. Questions? Concerns?

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