Business address

Organic beauty

Laurdale Street

125 Maida Vale

London W9 1UR

(b) Personal objectives

There are many advantages and disadvantages when starting a business. In order to start a successful business, I must be in a content state first. Having a possitive engergy and healthy state of mind is essential for managing a big responsibilty a new business brings. Boosting my self-esteem and confidance is very important, this will have a huge impact on my relationship with suppliers and customers. Starting my own business is good for me, this is because I would like to be in control of how I work and make decisions for myself and my business. Managing my own business brings me sense of freedom and leadership.

(c) Nature of the business and USP

This is when a particular feature separates a product from competitor’s products. This can involve lower prices, more features and options, improved version of other products competitors use. To make my business stand out I would offer high quality product and services and affordable prices for my products and services. I would offer customers who are waiting for their turn or appointment free drinks and cookie or free mini facials. I would consider sending e-mails to customers to remind them of their upcoming appointments or about new innovating products they can use at home. I would promote my product by using bold and eye-catching leaflets that highlights the main features and benefit of my products. For my employees I would provide pink uniforms that has the name of the salon on it. this is to attract customers. I would consider playing soft music (nature melody or classic).

(d) Long-term plans for the business

My Long term plans for Organic Beauty:

• To grow successfully
• Introduce new beauty treatments
• Maximise profit
• create my own label beauty products

Below is a diagram which includes some of the actions I should take to make my business a success.

It is very important that I carefully plan how I want to grow. I would introduce new beauty treatments, first I would create a survey and ask my customers and members of the public on which beauty treatment they would like to have access to. I would like to take further training to expand my knowledge around the beauty industry.

(e) Legal status

      I have decided that I will start my business as a sole trader. There are numerous advantages and disadvantages for starting a business a sole trader. The structure of my business will be flat, there will be me and few other employees who will take care of adminstration and beauty treatments.

Here are some of the advantages

• Sole mangement of income, profits and desicions.
• Freedom and indepentance.
• Control of business's fate (how big or small the business may grow)
• close and direct relationship with customers

the disadvantages;

• Higer pressure and stress (when making sure the business will survive and turn into success)
• Lack of motivation and boredom can occur when there are less people working with you.
• Lack of structure (no fix hours and working days and salary)
• Unlimited liabilty (if business goes bust there is a risk of losing personal assets)

(f) Skill(s) of owner(s)

Working in a beauty environment always requires excellent creative skills. I am a very creative individual; I have passion for learning new beauty treatments and hair techniques. I previously undertook a beauty therapy course; this has benefited me for the long run. I was also learned many practical beauty skills. Also I am currently studying a business course, I would like to strengthen my business knowledge by going to university and continue learning different business aspect. I will need to build my confidence as this is most important for my business. My business will solely dependent on customers, therefore confidence is fundamental. In the future I will consider taking studying a beauty course, this is to help me gain more knowledge and insights, this is because beauty changes and I must make sure I stay updated.

self confidence and self-esteem

Working on my confidence and self esteem is essential for my business. In the hair and beauty industry it is vital that the individual is very confident when communicating with customers, suppliers and the general public. How I see my self will reflect on my business. 

(g) Description of market, types and planned number of customers

The area that I have chosen to operate my business in is mainly home to affluent and comfortably well of people and there are few hard pressed people around as well. I am targeting wide range of different backgrounds.

Categories	Group	Type
Wealthy achievers	This group will be 20% targeted. (prosperous executive and thriving families  )	01 – 02
Comfortably well off	This group will be 40% targeted. They are the  cautious pensioners and settled families	27, 33 and 35
Moderate means	This group will be targeted by 30%. This group is made up by Asian Communities and Blue Collar Root	38, 40 and  43
Hard pressed	This group will be targeted by 10%. They are the struggling families and hampered singles	44, 50 and 52

http://www.caci.co.uk/acorn2009/acornmap_ext.asp