Business idea Essay
I have just received a large amount of money from my late uncle who has just passed away, God bless his soul as he lays in rest. Instead of spending the money on material things or pleasures, I have decided to open a business, which has been one of my interests for a long time. After many sessions of thinking and deep meditation I have decided to open a barbershop, the main reason for this decision to open a barbershop. The many priority was the fact that many of my friends have complained that the closet barbershop to us is in Plumstead and travelling distance from were they live in Thamesmead to Plumstead is 20 minutes bus journey.
Opening up a barbershop by myself automatically means that I am a sole trader business. Remaining as a sole trader has many advantages, mainly being that I am able to give a more personal service to my customers and I am able to make changes within my business very quickly due to there is little or no bureaucracy there being only one person to make the final decision. Other advantages include having complete control over the business and its profits; I am able
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For the launch of my new barbershop the customers that the service is aimed at is barbershop users ranging from 16- 40years black males. This type of marketing is mass marketing cause it is open to a whole range of people. There are different types of ways in which the company can reach the target audience but the best ways in which the company will reach its customers effectively would be to advertise the new service in my local newspaper which will attract social class b, c1 and c2.
The other ways in which the company have chosen to reach its customers is to hand out flyers and leaflets. These means of advertisement are direct and are at the places, which the target customers are likely to come into contact with them. ‘Look at me’ is a full-service barbershop dedicated to consistently providing high customer satisfaction by rendering excellent service whilst selling quality hair products at an affordable price in an enjoyable atmosphere at an acceptable price/value relationship.
‘Look at me’ also tends to maintain a friendly, fair and creative work environment, which respects diverty, ideas and hard work. The time is right to embark on this new adventure. After specking to my target group, it was obvious that the demand for there to be a barbershop in my local area which is Thamesmead was very high, as well as the ambitions of the owner which is me and the procurement of the highly professional and qualified barbers which I will employ to support me has made the business one of great potential.
‘Look at me’ will, upon commencement of operation, sell a wide range of hair products and services. The company will provide quality hair services along with top lines of hair products. What will set ‘Look at me’ apart from the competition is the commitment to providing all these services in one convenient location. To achieve my objective, I will use the i?? 50,000 which my late uncle lefted behind for me before he died.
These funds will be towards the payment of staff, the equipment the company tends to buy and need along with the premises, which we will operate from to provide our service. Kolawole Falana, the owner of the business has undergone a several range hair cutting sessions which he has learnt a great deal of techniques, he has also worked in a prestigious, upscale barber were he has gained experience in cutting hair.
Not only has Kolawole Falana gained experience in the physical part of the business venture but also has the mental knowledge to back the business idea, currently studying AVCE business studies has allowed me to gain a lot of knowledge on sort of areas I will encounter in the starting of the business, having already studied finance, marketing, business at work, competitive business environment and human resource management has widen my knowledge to give me confidence in taking this high step at such a young age.
Knowing friends who are also experienced in cutting hair and are currently looking for employment makes the venture seem a very strong and successful one. I believe that the business will grow in reputation to lead to customers and employees to support the businesses anticipated growth and establishment.