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Business Man

In: Business and Management

Submitted By patrickas13
Words 767
Pages 4
Summary:
Homen’s is an upscale old-world gentleman's barber shop that offers today's progressive gentlemen a haven where he can sit back, relax and experience the "World Class" art of grooming and services in a gentleman's club atmosphere, which is masculine and therapeutic.
Homen’s is aimed at an exclusive market and a discerning customer base, and will add tremendous value to our community while offering a combination of "World Class Services" not currently being offered by any competitor in the Middle East area. We intend to be profitable by increasing our client base through becoming a highly sought after destination.
Our goal, beyond becoming a profitable business, is becoming a trusted destination whereby the clients in our community can come to refresh their minds and bodies, refill their energies, and network with their colleagues and friends!

Vision:
Homen’s will provide a comforting, yet stimulating, old world gentleman's club atmosphere in which customers will be able to relax both their body and mind, through a wide range of services ( hair cut and style, essential facials and peels, sports massage, deep tissue massage, hair removal on neck, back, ears,etc. and alot of other services

Mission:
Homen’s will establish itself as a world class service provider to which clients can always come to escape the stresses of life, and rejuvenate their energies, enjoy the camaraderie of their colleagues and friends. And satisfying our customers to the maximum.

Goals: 1. To create a service-base company whose goal is to exceed client’s expectations. 2. Sales increase substantially by end of Year 2 and nearly double year one revenue by the end of Year 3. 3. To increase the number of clients services by at least 20% per year through superior performance and word-of mouth referrals. 4. Have a clientele return rate of 90% by end of Year 1. 5. Become an established community destination by end of Year 1.
Keys to success: 1. Location: Providing an easily accessible location for clients. 2. Environment: Providing an environment conducive to giving relaxing and professional service. 3. Convenience: Offering clients a wide range of services in one setting, and extended business hours. 4. Reputation: Reputation of the owner and staff as providing superior personal service. 5. Effective advertising: Advertising in the corporate environment.

Competition:
There are many salons in the same area, but no direct competitors. There is no one place in the area that offers a high-end gentleman's barber shop exclusively for men, where a gentleman can sit back, relax in a gentleman's club atmosphere and experience the art of traditional grooming services in an environment that is masculine and therapeutic.

SWOT analysis

Strength:

* Low number of competitors * High quality care * High level of employees * Easily located

Weakness:

* Insufficient number of employees * No competition between the employees * lack of experience in the shoe shining section

Opportunities:

* High quality of services * Well trained employees * Good reputation in Europe * Small amount of expenses

Threats:

* High costs of machines * New idea to the society * The need for a big advertising plan * High cost of products

Target market:

Our target market will be barber shop services for the professional male. Based on our Internet survey, 80% of our services will be associated with hair, hair color, shaves, shoe shine; 15% will come from facial, massage, nail, and tanning services; and 5% will come from products. Our target market will be male professionals and retirees, from the age of 25, with individual and household incomes greater than $30000/year.

Segmentation Strategy:
The members of these market segments have luxury money on hand, and lead professional lives filled with very busy schedules. All persons usually need hairstyling regardless of income level, and make the effort to find money available to style their look.
Customers motivation:

Clients choose men's grooming services based on proximity to their daily travels from home and work, reputation for high quality service, and good pricing.
Marketing strategies: 1. Emphasize our name and unique services and environment through advertising. 2. Focus on the convenience of our location. 3. Build community relationships and corporate relationships through unique and quality service, a friendly caring atmosphere, and delivering world class service.
Pricing Strategy:
Our pricing strategy will be similar to that of our competitors. We will not charge over, nor substantially under, standard prices for our services. We will be paying our employees a straight percentage of their total individual client sales plus a bonus–that's more than our competitors. This will allow us to hire the best employees, and have a built-in motivational factor that will keep them empowered to enhance their opportunity.

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