Business Description
BsZ Facial Smoother is a new company that would provide effective and high-quality facial healing products to its consumers. We are scheduled to begin
operations on April 25, 2018. BsZ Facial Smoother would be partnership operated by Yram Bsz and Bsz Borsz. The management team has prior experience in the production and selling of hand healing cream, shampoo, lotions and small business management experience in the areas of marketing, retail, human resource, and accounting. Our mission is to provide our consumers with high-quality products that would help them counter facial problems at affordable prices.
In the first year, we plan to obtain 6,500 consumers, offer three basic services in three price ranges, obtain 2 % of the Beaverton market, and show $5000 profit. By the 5th year, we expect to obtain 15% of the Beaverton market and expand our operations across the state. Beaverton’s economy is forecast to grow by (4.2%) over the next five years and the beauty product industry is expected to grow by 40% next year. We have two direct competitors located in West Beaverton. Four of our indirect competitors are located in downtown Portland.
Marketing Strategy
Our marketing strategy is to provide quality, expertise, and a full range of facial healing products. Cross marketing and networking with industry contacts is our main promotional tool. Advertising channels will include but not limited to
word-of-mouth advertising, Vehicle Marketing, Website Development, and Billboards. Two promotional strategies will include seasonal and membership package specials. The products would cost $9.99 for small size (5fl.oz.), $11.99 for the medium size (8fl.oz.) and 15.99 for the bigger size (20 fl. oz.).
Our business would be located in SW Cedar Hills Blvd; cost will be kept low, and we will have good accessibility to suppliers and our customer base. Startup cost is estimated at $150,000. Our financial plan requires that each partner contributes
$75,000 and that we use QuickBooks as our accounting system. Estimated first-year sales are $50,000, which we expect will grow to $350,000 by year five.
To better reach our target market, we will advertise on social media, TV, and radio while trusting the ‘good ol’ word-of-mouth. By so doing, we would be able to get to the almost 3 billion people that have social media accounts and those that watch TV and or listen to the radio. We would also establish billboard advertising in four locations for a few weeks. The locations will be school areas, and downtown, which will enable us to reach our target market.
Yram would be are responsible for the marketing strategy and daily operations while Borsz would be responsible for financial duties, human resources, and legal documents. Any policy changes require consensus from all partners, and profits and losses will be shared equally among partners. For the next five years, monthly salary allowances have been set at $6,720. We require a partnership agreement, liability, and life insurance. Other requirements include business permits, business licenses, and property taxes. We conclude with personnel structure.
Our target market would be but not limited to working-class teenagers between the ages of 13 and 50. We will offer free samples and discounts on products to get their attention. From previous experience, we have come to believe that by providing free samples, people trust your product more. What is there to lose if it is for free? We would also offer coupons to encourage coupons to buy more of our products. For everything giving given out, we would record how many purchases made both in the store and purchase through the website we build. This would give is a general idea of when to stop giving out free samples and coupons and or if to give out more.
Customer Demographics and Local Market
To start off, we would target the local market before trying to go continental as we believe it would be easy to reach the local market. Going global would be easy afterward. Our market analysis defines our target market as working teenagers and adults with a combined income of at least $25,000:
Gender: 75% women Men 15%
Age groups: 13 to 19, 20- 50 Internet Savvy
Education level: High school education through college
Knowledge level: General idea with makeups, creams, lotions, and gels
Socio-economic level: Ranging from Highschool students, College students through Graduate students with a combined income of over $25000 a year.
Ethnic breakdown – African American/Black, Asians, Caucasians and Hispanics
Company Name
Our company’s name would be BsZ Facial Smoother – named after one of the greatest businesses that made it without the internet in the Ghana Empire.
Why We Picked This Business
We chose this business because, for the longest period of time, humans have always tried to improve upon their looks – by the use of for their hairs makeups, putting on clean clothes or using shampoos. Upon deciding that the first thing a person sees when they talk to the other person is their face, we came up with the idea to help make it look better by providing authentic and natural healing products for a better image. Selling a Facial Smoothing Creams, for us, is one of the best ways to help people have a good look that would enable them to find a much-needed
self-confidence. Looking good naturally gives people confidence and having confidence open doors to several encouraging things.
Web Presence
We would build a website and advertise a product and provide online shipping for those interested. Online shoppers generally have a higher annual income, they are also well informed about the services they purchase; hence a website will allow potential customers to contact us about our services. The website would include an online consultation feature where customers can ask questions about products on display. The website would also include a help section, tutorial section, videos section on how the products should be used to achieve the best result.
It would contain FAQ to help customers with answers to quick questions – with navigation bars to ease of use. The pages on the website would display product description with multiple pictures from different to help customers a good look at the products. It would also offer smart search with filters out to help the customer find the product easily- while listing products by name, SKU, price, and item description.
Browsing the website would not be limited to the computer users, only. We would build a mobile-friendly app to make it convenient for our consumers to reach the website with ease. We would also advertise the products on our social media accounts to help connect with our 5000 friends and followers.
Customer Relation
In trying to build rapport with our customers, we would provide emails for them to give feedback and review for us to better serve them. We would also consistently follow up with them to see their progress. As our customers would be the number priority, their feedbacks would be treated as an emergency. We would provide a 24-hour service chat and call lines for them to be able to reach us at any time they have questions.
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