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The Network of Barbershops: Market and Industry Analysis
Introduction
The mission statement of the planned business is as follows: To prove that taking care of oneself is a privilege not only for women but also for men. The business that is planned to open is a network of barbershops that will include haircuts for men of all ages. The preliminary name of the franchise is Dont Cut Yourself (DCY), which implies giving up self-shaving and calling to trust professionals. The network of barbershops will be located in Miami, and, if possible, these establishments will cover the widest possible location.
Market and Industry Analysis
Men of all ages will be the target audience for the proposed business. The market segment of cosmetic and beauty services is dense, and at the initial stage, competition can be felt. Recently, barbershops have gained popularity among the population, which explains the need to create a sustainable marketing policy. However, the focus will be on highly professional haircuts and shaving services; therefore, both children and adult men can be DCYs clients.
Sales and Marketing
The services of DCY will be provided in specially equipped premises. The marketing campaign will include advertising the franchise on social media and through visual street advertising. To attract customers, discounts and bonuses will be offered to the first visitors to get regular customers, which is also a common method to retain clients (Norvell & Horky, 2018). DCDs slogan will be as follows: Dont Cut Yourself! Entrust It to Us!
Management/Ownership
At a joint meeting, a board of directors will be elected, and major departments will be formed. The ownership of the franchise will be in the hands of the founders of the network, and the property will be divided equally. If sponsors want to invest in the project, the question of the number of owners may be reconsidered.
Reference
Norvell, T., & Horky, A. (2018). Bonus gift card programs: A methodology to measure the impact on revenue and profit. The International Review of Retail, Distribution and Consumer Research, 28(4), 397-413.
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