Beauty has always been the center of attraction for the mankind. Since the inception of a civilized life, staying and feeling beautiful has been the necessity of the human beings and especially females. Even in the age when there was negligible knowledge about enhancing the external beauty through treatments, women use to achieve this satisfaction trough homemade treatments and beautifications. With the passage of time and growing information among the users, scientific knowledge has helped the thinkers to accomplish the beauty enhancement needs through artificial treatments. Many women these days are suffering from the anxiety disorder with the growing age due to lesser acceptance towards the aging factor. To look beautiful and stay beautiful has been the ultimate desire which are accomplished through cosmetic clinics
The business plan will address the facilities offered by ‘My Pure Aesthetics’. The facial aesthetics business has grown over the years. Many women have been turning towards this facility in early 30’s. It is estimated that the aesthetic industry is contributing £2bn globally. However, in the coming years it is expected that alone in UK the aesthetic industry is capable of contributing around £ 19bn annually. Thus seeing the growing need and industry in UK, it is aimed by the owner to open a new branch in UK. The proposed business plan will focus on the opening of the franchise in UK industry and calculating the cost and how soon this cost will be recovered by the business.
The business is aiming to offer attractive services within a reasonable range so that maximum customers are able to fulfill their desires through ‘My Pure Aesthetics’. Many women these days prefer to get beautiful and experience the newer version of their personality without any surgical treatment. My Pure Aesthetics is offering the safer and the compatible beauty treatment and it is expected that sooner the business will be able to grab the attention of major target segment.
The objectives for opening up business in UK are as follows:
- By the end of the first year of operation, the business shall be able to exceed 60% of the daily appointment schedule.
- The business shall be able to achieve 50% of referrals in the first year of operation. Wih the motivation and the level of services given it is expected that the business will be able to attain this position within a year.
- The sales shall increase by 15 by the end of second year of operation.
The business aims for:
- Offering Anti-Wrinkle treatment without any surgical procedures.
- The services will be within the affordable range so that maximum number of customers are able to avail it.
My Pure Aesthetics is owned by Ava Farvahari
The startup expenses for running ‘My Pure Aesthetics’ will be focused on purchasing quality product, equipment and developing the treatment rooms in a way which will make customer experience the best of the treatment and will help them attain their desire without any hassle. The owner will be able to invest £ 10,000 initially and will apply for the loan of around £ 30,000.
Fig-1: Start-Up Expenses
Company Locations and Facilities
‘My Pure Aesthetics’ will be located in central London in the Millman Mall. This facility has been in reach of 60,000 urbanized population. These potential customers are considered to be the potential loyal customers for the business.
Products and Services
‘My Pure Aesthetics’ is aiming to offer following services:
- My Pure Aesthetics limited is a cosmetic clinic helping with skin rejuvenation and we offer multiple anti-wrinkle injection and dermal filler treatments.
- The beauty enhancement offered by My Pure Aesthetics helps the customers to achieve the desired results without going under the knife and any type of pricking treatments.
- The products used have highest quality and have promising results. Thus, this is the reason that it could be expected that the client will be coming back for any future treatments and it will help in gaining referrals for other potential clienteles.
Market Analysis Summary
Central London is the heart of business hub in UK. Many cooperate businesses have opened their branches here due to majority of urbanized population. The growth have been accompanied by the IT technology which has helped this surrounding to be the most appropriate location for starting up a sensitive business like ‘ My Pure Aesthetics’ will be able to target the aimed customer segment focusing the females who are working and have this desire that they want to look younger then there age. The second target group will be the men who makes 10% of the population for this business.
Since the beautification business knows that the need of both men and women to look beautiful are equally important. However, to maintain the privacy of the individuals, separate sitting lounge for men and women is arranged so that they are carefree from the issue of the privacy leakage of the personal wishes.
‘My Pure Aesthetics’ will be focusing on two types of customer groups:
- Girls and women aged between 18 to 60 years. Though, it is expected that mostly the professional women are expected to turn out as a loyal customer.
- Professional men aged between 21 to 60 years.
Fig-2: Women vs. Men ratio in the Customer Segment
The economic conditions are the main factors to consider while starting over a new business. My Pure Aesthetics is the first of its type of clinic in the central London. Thus, it is the most ideal location and the time to introduce something in the heart of UK where the expected potential customers will have the convenience approach and quality services is ultimate ideal environment for initiating a new business. It is estimated by the owner of ‘My Pure Aesthetics’ that the sales will be slower for the first two months of the business initiation. However, with the offers like first free treatment or the reduction of approximately 30% on the first treatment is expected to bring in number of customers.
Once the customers will experience the quality and safe services offered at the ‘My Pure Aesthetics’ it is expected that it will help in getting increased customer within no time. The below illustrated image is the expected sales forecast for the coming three years.
Fig-3: Sales Forecast
Market and Industry Analysis
For the year 2010, the UK cosmetic industry was contributing about $11,000 annually. It was considered the third largest industry in the entire Europe. The figure illustrated below shows the given statistics:
Fig-4: UK Cosmetic Market in 2010
The industry established in United Kingdom can be divided into important segments:
Thus, the cosmetic industry grew by 3.2% from the year of 2009 to the year 2010. The breakup for each category is discussed below:
Fig-5: Break-up for UK cosmetic industry
The above figure shows that the skin care segment has bene the most dominant segment and has the capacity to grow in the coming years. Being a dentist by profession and comparing the positive aspects of beginning the My Pure Aesthetics accounts of greater benefit then other businesses. The size of the target audience is increasing over the period of time. The culture of UK allows the adults to plan for their life and this helps them to change their lifestyle as they are earning at their own and has the capacity to attain any desire. More importantly, the professional women who are contributing successes in the corporate world are also accommodated by this business. The most highlighting factor for this business is the convenient approach. Since all the transportation lines connect to this area and is located at the heart of London, there are improved chances that the business is expected to have major attention from the customer segment.
My Pure Aesthetics will be facing the competition with other cosmetic clinics like Jack & Jill and Tony & Guy for their detailed and established background in this industry. The customers have developed their trust over the services of these two brands. However, it has been identified that these businesses use the surgical treatment for the beautification enhancement. However, the change in trends identified so far shows that the majority of the women have avoided the idea of taking these services due to the fear of surgical incision. Thus, My Pure Aesthetics will offer the quality services with prolonged results without any type of surgical treatment that too in a relaxing environment.
The SWOT analysis of the business will give in a deep insight for the current strengths and weaknesses of the business. Also, what type of improvements will help the business to gain maximum attention of the target segment.
- Advanced services
- Friendly environment
- Focusing on customer needs
- Usage of quality products
- Offering services within a reasonable range
- There are other clinics offering similar services like My Pure aesthetics
- The place for running the business is expensive, thus, the prices for the services may need to be raised within a shorter time span.
- The central location and the vicinity has the possibility of expansion if needed.
- Offering concessions or special offers on days can help the business to grow in lesser then expected time.
- The similar services are offered in lesser prices because the business can afford to offer as they are operating at a lesser expensive location then My Pure Aesthetics.
- The other businesses are also offering the similar rather advanced services and have an established name.
The important assumptions are made for the beginning of this business:
Break Even Analysis
The break eve point shows that the business needs to generate an adequate amount of monthly revenue for reaching a break-even point.
Fig-6: Break Even Analysis
Projected Profit and Loss
Fig-7: Projected Profit and Loss
Fig-8: Monthly Gross Margin
Projected Cash Flow
The below illustrated chart shows the projected cash flow for the business:
Fig-9: Projected Cash Flow
Being a dentist by profession, I have this idea that how the patients wants to look good through their teeth’s or the external looks. Thus, accounting this image I am planning to expand my number of clinics and to offer the aesthetics treatment along with the dental treatment. For ensuring successful results, the professionals in this field will be hired like beauty therapist specialized in advanced facial treatments for example chemical peeling and mesotherapy, micro blading. All these treatments will be done in the clinic.
I do question myself that why I am planning to begin this new venture. Since I have been dealing with the patients who are coming either to get their dental pain resolved or get the adequate treatment so that their external looks are not damaged due to bad teeth’s have given me this motivation that hiring the professional staff along with me as a beautician will help the customer to achieve their desired look with promising prolonged results in a hygienic environment. Thus, I find this as an attractive option for the reason that the beginning of this business will not only support my current dental business but will help me in opening up new clinics without investing much. The company’s manufacturing the beauty products will finance this idea and will help the business to establish initially with the pay back schedule which will be easy for the business to pay with time.