Business Plan

ENDEERING DAY SPA MARKETING PLAN The Endeering Day Spa is a full-service day spa dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price/value relationship. We will also maintain a friendly, fair, and creative work environment, which respects diversity, ideas, and hard work. Market research indicates a specific and growing need in the area for the products and services Endeering Day Spa will offer in the market it serves. This market strategy will be based on a cost-effective approach to reach this clearly defined target market. This approach will utilize resources to create awareness of the spa and encourage customers to benefit from the convenience and services it offers. Endeering Day Spa will focus on its client requests, specialty services, premier products, and competitive pricing. Their mission is to supply services and products that enhance clients' physical health, appearance, and mental relaxation. The marketing objective is to promote rapid growth and profitability through effective implementation of the strategy. Executive Summary Owners, Matt and Heather Deering, have successfully ran a reputable school that teaches esthetics, massage therapy, manicuring, and many other services. They have an extensive background in this industry and have a very good reputation. Endeering Day Spa will, upon commencement of operations, sell a wide range of beauty services and products. It will provide quality nail and skin services, along with body treatments. Courses and information on homeopathic treatments will also be available. What will set Endeering Day Spa apart from the competition is the commitment to provide all of these specialized services in one convenient location. The basic market need is to offer a variety of services at reasonable prices, for the owe-it-to-yourself clients, through a personalized spa that offers excellent service and treatment that encourages people to pamper themselves Market Summary We possess good information about our market and know a great deal about the common attributes of our potentially loyal clients. We will leverage this information to better understand whom we serve, their specific needs, and how we can better communicate with them. The profile of the Endeering Day Spa customer consists of the following geographic, demographic, psychographic, and behavior factors: Geographics * Our immediate geographic market is the Maryland Heights area, with a population of 24,470. * The City of Maryland Heights encompasses 23.14 square miles of geographic area in need of our products and services. * Maryland Heights is home to many of St. Louis's major employers. The Riverport Casino Complex is Maryland Heights' largest employer, with about 3,240 employees. Other local businesses with more than 500 employees are Edward Jones, Quest Diagnostics Clinical Laboratories, Mastercard International, United Healthcare of the Midwest, Watlow Electric Manufacturing, Electronic Data Systems, KY Pharmaceutical Company, and Schnucks Markets, Inc. * Maryland Heights' residents are mobile. Of the residents here in 1999, 61 percent have moved in since the city incorporated in 1985. * The City of Maryland Heights has a relatively young population base. Over half of the total population is between the ages of 14 and 44. The predominately young age distribution is most likely associated with the high number of multi-family housing units within the city that are attractive to young persons. The 1999 median age was 31.4 years. * The City of Maryland Heights contained a relatively well educated population in 1990. Census data indicated that overwhelming majorities, approximately 86%, of the residents are high school graduates and 66% of the high school graduates have some college education. Demographics * Female. * Single or recently married. * No children. * Have attended college. * A household annual income in excess of $43,000. * Age range of 20 to 45 years, with a median age of 32. * Rents apartment or owns their home, townhouse and/or condominium valued at approximately $88,000. * Work in a professional/business setting in Maryland Heights and its surrounding areas. Behavioral and Psychographics * Personal appearance is a priority. * Has strong awareness of the necessities of mental well being and physical health * Associates spas as a prestigious form of "self-pampering" Market Research * Initial Question Results: The staff will note customer responses to the How did you hear about us? question. We attempt to correlate that with our advertising and promotional activities and referral-generation programs. * Suggestions: The suggestion box is another method to gain additional information from clients. Some of the most productive questions are: o What suggestion do you have to improve the quality of service? o What other products or services would you like to have available? * Competitive Shopping: We will continually shop other day spas. We plan to visit each competitor in our market at least once each quarter for competitive information, and we subscribe to many catalogs that have beauty products, herbs, essential oils, and other specialty products available to the market. Market Needs Endeering Day Spa is providing its customers the opportunity to relax and pamper themselves in a comfortable environment. They have the choice of many services that will help them look and feel better. They desire their experience to be personal, unique, and informational as well as a form of stress relief. We seek to fulfill the following benefits that we know are important to our clients: * Selection - A wide variety of services, products and treatments. * Accessibility - The client can directly purchase beauty products used in the spa. * Personal Client Services - Employees have had extensive training and can help clients design a spa package that would be most beneficial for them. This enables clients to benefit from suggestions regarding the services and products in a manner to complement their skin type and individual needs. They also have access to information on home treatment taught by professionals at the spa. * Competitive Pricing - All products and services will be very competitively priced in comparison to spas in the St. Louis market. Market Trends & Growth Potential The day spa industry market is experiencing a tremendous growth spurt. The industry is expected to realize a rapid increase over the next five years. This is primarily due to the increased awareness of the health benefits associated with the industry. This growth also comes from more and more individuals seeking a variety of forms of stress release and alternative medicine. More people are turning to homeopathic medicines and the use of herbs and essential oils to treat ailments instead of a typical visit to the doctor's office. This could be