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The spa business enterprise is located on the outskirts of New York. The spa is supposed to be a modern upscale resort that focuses on providing a full-day spa experience to only male customers. The company plans to cater to men's fitness and grooming needs. As a result, the spa will have six ultra-comfortable rooms outfitted with the finest spa facilities and linens. The company promises the availability of a variety of treatments such as aromatherapy, Indian head massage, deep clean facial, and hydrotherapy, both of which are targeted at meeting the health and beauty needs of male customers. Furthermore, the spa intends to offer sports massage alongside other services and skincare products to the men. The spa has a broad range of anti-aging products besides other services that includes pedicure and manicure if they are part of the full treatment.
The preparation of the business plan aims at ensuring effectiveness in tracking the progress of the spa industry within the five-year projection (Lyandres and Berardino, 1823). The company intends to provide full dedication to the provision of customer satisfaction besides offering friendly, fair, and seemingly creative work environment. Furthermore, the spa aims at providing quality products and excellent services that meet the needs of the clients while creating and fair value and price relationship with the customers. The mission of the spa is the supply of the products and services to the clients who play a crucial role in the enhancement of their physical appearance and mental relaxation. The firm has achievable targets and intends to ensure their achievement through the additional loan financing. The company wishes to collateralize the loans by the assets that the corporation holds while its repayment while being achievable from the cash flows of the business.
The company has ensured success in its R & D for the various products and thus has a comprehensive startup plan of activities for the spa. The firm intends to make sure that the management of the business is systematically organized and the various teams assigned supervisors and team leaders for efficiency in the administration of the organization. The company expects that every department co-operates and coordinate with each other in the delivery of the services. The company has further ensured success in its analysis of the competition strengths and its weaknesses. Overly, the spa group intends to ensure success in the implementation of the business plan that guarantees satisfaction of the clients besides promoting the growth rate of the firm over a short period.
Business proposals entail the schematic assertions of a set of business objectives, the reasons for their achievable nature and the necessary plans for ensuring the accomplishment of the set objectives. The proposal may thus contain a set of information regarding the firm or the team aiming at the achievement of the established goals. The goals included in the business plan may thus be for either profit or nonprofit depending on the nature of the firm. For ensuring success in gaining profits, the business proposals mainly aim at the achievement of the financial objectives of the company. There is the necessity for noting that the nonprofit business plans as well lead to maximization of the profits of the enterprise (Brad, 214).
The business proposals are also crucial in ensuring alteration of perceptions and branding of by the various stakeholders that include the consumers, bigger residential areas, and the taxpayers. There is necessity however for ensuring that the business plans concentrate on the provision of selective information necessary for the determination of whether or not to engage in the pursuit of a particular set of objectives and goals of the clients (Petkovski and Biljana, 29).
A spa serves as a place where individuals tend to participate in some of the activities aimed at mending or keeping their health. The products and services at the spa play a crucial role in the upkeep or amendment of the physical or mental health of the customers. The name ‘spa’ arises out of the mineral waters famous for their therapeutic purposes. Presently, numerous health resorts and water treatments are often dispensed ordinarily under the supervision of specially trained spa physicians as the component of the spa plan.
The various spa centers offering the programs for fitness and health tend to focus on the individual requirements. These centers are thus designed to ensure the provision of the guests with better feeling on their arrival at the health resort. The spa tends to place different products and services for ensuring that the management of the stress and renewal amongst the clients is useful. The various offers available at the spa entail combination of fun, healthy and balanced diet, and exercise. The spa environment thus plays a crucial role in the provision of the seemingly comfortable environment to the customers whereby they are capable of learning on the utilization of some of the tools that are useful in ensuring the improvement of the lives of individuals besides boosting the reception of motivation.
The goals serve as the intended visions of the business. The goals thus act as the progress markers along the way towards the goal achievement. The goals of the firm are thus ensuring customers’ satisfaction besides increasing the client loyalty that is crucial for the profitability of the business. The objectives of the companies tend to vary significantly from one organization to another whereby one may exhibit the preference for ensuring maximization of the profitability while another firm may show preference for meeting certain aspects that indicate the level of customer satisfaction. Some of the objectives of the spa thus entail:
Increased profitability at the termination of the first year
Having a customer return level of 80% by the termination of the first year
Becoming developed community target center by the end of the first year of its establishment
Maintenance of high quality of the products and services delivered to the clients
Keys to success:
Some of the fundamental aspects of any business that requires consideration before the development of a plan of activities entail marketing, location, novel treatments, professionalism, and individual attention. Marketing serves as the primary strength and potential of the organization that is crucial in attracting the maximum number of clients efficiently.
There is also the necessity for the organization exercising professionalism in the delivery of its services besides promoting confidentiality of the group. The company needs to guarantee the confidentiality of the information that their clients share. The organization should as well ensure that they exercise professionalism through the hiring of experts to handle the customers.
Individual attention is also a crucial aspect of the business that entails treatment of every client with personal care and attention besides ensuring that the firm focuses on giving the customers due to the preference that they deserve. Unique treatment, on the other hand, entails the company ensuring the provision of variety and unique services and products to attract the clients while at the same time differentiating itself from competitors. The firm should thus ensure availability of both the latest products and technologies for the customers. The location of the business should be perfect to support the business besides creation of convenience in its access by the clients.
At the chosen location, the Spa business venture is capable of becoming a premier center for serving the male customers in the state. The establishment of the spa will see that it is dedicated to caring for men. The management intends to make the spa an entire service day location capable of providing the necessary treatment for skin care, facial massage, hydrotherapy, and aromatherapy. The objective of the resort group entails assisting the men in their relaxation and in the reduction of stress levels using the various treatment options available at the spa beside the lifestyle products that the business intends to provide. The business thus aims at directing its mission towards ensuring the efficient development of a good relationship with the customers. The development of the relationship is achievable through proper understanding and delivery of the needs of the clients. Furthermore, the right relationship is feasible through the provision of seemingly supreme individualized attention in the social setting.
The Spa business venture intends to serve as an organization that is more than a mere provider of products and services. The vision of the organization entails ensuring that it is a trustworthy destination whereby the men are capable of relieving their stresses associated with the life besides revitalizing their energies, lives, and souls. The business thus intends to target the men, as a majority of clients taking spa services comprises of the men. The focus on establishing services towards capitalizing on the opportunity available from the target market is crucial.
The ownership of any business usually depends on the nature of its shareholders' agreement. The ownership of any business could be either public or private limited. The private limited company entails a firm whose shares are not extended to the public. The liability of the owners on such instance tends to be limited since the contributions of the shareholders tend to vary. Before commencement of the spa, there is the necessity for deciding on the nature of ownership, which entails making the decision on whether the company should be a sole proprietorship, partnership, or limited liability. Amongst the various kinds of ownership of the firm, the decision on the right form of business is achievable in consideration of the type of the company, its financial situation and the number of owners involved (Barbour, 29). The owners of the company thus bear the responsibility of deciding on the structure that meets their needs concerning the spa business. The spa business best suits the partnership option whereby two or more persons operate it. The shareholding of the various partners can be distributed according to their contributions to the startup capital.
The consideration of the financial plan of the business is crucial for the projection of the profitability of the firm based on the information obtained from the research on the industry. The screening of the four-year performance of the business is crucial in ensuring effective planning. The financial plan is also essential in showing the projected cash flow, balance sheet, and the in-depth break-even calculations likely to affect the crucial decisions for running the organization effectively (Hopp, 673). The fundamental aspect of the financial plan entails finding the effective ways of ensuring the improvement of the financial position of the firm.
Twelve-month financial projections
Numerous organizations exhibit the preference for the inclusion of the projected profit and loss statements over a year. The placement of every detail in numbers is crucial for the development of the idea of profitability that serves as the objective of the business and as a source of motivation for the success of the firm. The sources of the projected sales revenue entail the integration of the forecasted sales, expenses, and costs of the available goods for sale. The analysis of the market about the performance of the potential competitors is also crucial in projecting the pattern of the clients hence effectiveness in predicting the returns on investment.
Product and services
The spa business venture intends to ensure the emphasis on the provision of both the necessary and elementary services aimed at matching the organizational objectives. Since the firm wishes to start the spa soon, there is the necessity for its inclusion of some of the essential services that entail skin care treatments, massage, waxing, hydrotherapy, and sauna. The increased number of men seeking spa services assures the organization of significant profits through the focus on ensuring that the clients gain treatments that meet their requirements.
The firm intends to provide its design with men in mind whereby the provision of the skin care and body therapy conforms to the shape and requirements of the men’s body. For instance, the business intends to align some of the services to the needs of the men. One such conformity entails customizing the skin treatments of the men towards tackling some of the challenges that most men face which include the clarity of the skin especially for the clients affected by the skin issues that includes ingrown hairs, burn or razor that tend to exhibit uniqueness to men. The business intends to provide a variety of men services for the skin treatment of the men. One such service entails the Deep Clean Facial for Men of all types of skin. Such skin treatment involves focusing on the renewal of the skin and ensuring proper balance through utilization of the products for the removal of the dead skin cells and cleaning the pores of the skin.
The Indian Head massage is another important treatment approach intended for the head, shoulders, and neck. The massage tends to focus on assisting the visitors in overcoming the tension and mental stress through rebalancing and cleansing the entire body. The provision of massage therapy is crucial for the success of the firm by meeting the needs of numerous male clients.
In conclusion, the business intends to focus on meeting the beauty needs of men hence its target group entails male clients of ages between 30 and 35. The business venture aims at focusing on the health-minded individuals, male athletes, and corporate men. The spa group has arrived at the decision on targeting the middle-aged men on analysis of the various aspects of the market segmentation that includes demography and psychographic segmentation.
Barbour, Tracy. "Business Plans Play Important but Varied Role in Commercial Lending." Alaska Business Monthly, vol. 32, no. 6, June 2016, pp. 28-32. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=bth&AN=116659028&site=ehost-live.
Brad, I. "Business Plan -- Major Management Tools in Development of a Business." Agricultural Management / Lucrari Stiintifice Seria I, Management Agricol, vol. 16, no. 2, Apr. 2014, pp. 214-217. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=bth&AN=97749693&site=ehost-live.
Hopp, Christian. "Does the Presence of a Formal Business Plan Increase Formal Financial Support? Empirical Evidence from the PSED II on the Signalling and Mimetic Nature of Formal Business Planning." Applied Economics Letters, vol. 22, no. 9, June 2015, pp. 673-678. EBSCOhost, doi:10.1080/13504851.2014.967377.
Lyandres, Evgeny and Berardino Palazzo. "Cash Holdings, Competition, and Innovation." Journal of Financial & Quantitative Analysis, vol. 51, no. 6, Dec. 2016, pp. 1823-1861. EBSCOhost, doi:10.1017/S0022109016000697.
Petkovski, Vladimir and Biljana Angelova. "Usage of Business Plans as a Tool for Starting and Expanding Businesses in Republic of Macedonia." Economic Development / Ekonomiski Razvoj, vol. 16, no. 3, Dec. 2014, pp. 29-4. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=bth&AN=103259850&site=ehost-live.
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