2.1. Situation Analysis5
3.1. SWOT Analysis6
3.2. Competitive analysis8
3.3. Market segmentation9
3.4. Target market10
4. Marketing analysis12
4.1. Pricing strategy13
4.2. Marketing strategy15
5.0. Strategy and implementation17
5.1. Research action plan17
6.0. Market forecast18
7.1. Management Team20
9.1Start up summary23
Table for start up24
9.2. Sales forecast25
9.3. Revenue forecast26
9.4. Expenses forecast27
10.0. Financial analysis27
Pimp My Hair Sdn Bhd salon aims to be the premier salon in Sunway Pyramid and Malaysia as a whole through a unique of offered services and products. The business will be set as a Limited liability company with Jane, Hussein and Caroline as the owner of the business holding different number of shares in the company.
Products and services
Pimp My Hair Sdn Bhd offers a wide variety of mind and body healing services and products. The salon aspect of the business will provide for both male and female with any type of hair styling; however the main focus will be African people. This is all done in a relaxing environment.
Company location and facilities
Pimp my hair salon is going to be located at Sunway Pyramid near the shopping mall and this is because it is the central point where most young people even from places like Limkokwing University come for shopping. This site is a high profile area with easy access and ample parking, besides that there are more than 800 students in Sunway, Tailors and Monash Universities. The mall is anchored by a cinema, specialty retail and service shops, lagoon recreation center, food pavilion and a couple of clubs after looking good at Pimp My Hair Sdn Bhd.
Pimp my hair salon plan to be a private limited company co-owned by Caroline Muringa as the founder and two other shareholders Jane Makwinja and Hussain Zameel. Caroline has I year experience in the hair business and currently a business student being an added advantage. Jane and Hussain are also both Business students and pioneers in marketing and accounting respectively. We need a share capital of about RM 10 000 to start a private limited company according to Malaysian regulations. The share shareholders injected money in the second year of the business funds for day to day running of the business.
❖ We will launch our new “pampered parties” November 2010, with a goal of having booked 40 parties by the end of the year 2011. Mostly targeting birthday of our customers. ❖ To increase repeat clients by the end of the year to 7% per quarter
❖ Bring in as much products as possible for Africans
❖ Maintain a positive growth each month
❖ Increase the amount of retail products sold by 10% per year
❖ Grow the profit margin by 3% or more
❖ Profitability by year one
Pimp my hair mission is to provide excellent service and solutions to all hair problems while realizing a continued revenue growth. It is our desire to transform you into a new image, hence exceeding our customers’ expectations.
Creativity is our way
Key to success-
• There are no ‘International hair salon outlets’ in Malaysia
• Malaysian Hairdressing Association (MHA)’s support
• Few legal procedures to be dealt with when entering the market
• There is room for expansion to the whole of Malaysia and even to neighbour Asian countries
• African hair can be styled to perfection with the right stylist
Pimp my hair salon Sdn Bhd is an African hair salon which is targeting the international students coming to Malaysia for...