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Jacquelyn Cohen
(301) 471-1869 Britany Mercer
(240) 671- 3393
MISSION STATEMENT
Taurus will be a tanning salon that will provide quality service to people in need of some color.
Taurus provides tanning all year long because you should have to wait for summer to get the perfect tan you want.
THE TEAM
Worked at a tanning salon in Maryland for two and a half years and used the facilities. I am very qualified to help run and own a tanning salon because I have been included in the process of buying lotions and explaining them to clients, explaining the beds, and all other aspects of running the salon.
Owner- Britany Mercer
Owner- Jackie Cohen
Full time employee- Morning Manager
Part time employee- Evening Manager
Part-Time Employee
Part-Time Employee
Part-Time Employee
MARKET SUMMARY
When we are local we plan to pay for advertisement in the newspaper and to put up some advertisement on local campuses. On the national level we are going to advertise in magazines such as Cosmopolitan, Vogue, Teen Vogue, Allure, People, and US weekly.
We will aim to use 70% of all possible tanning hours in the first year of operation. Our Market Penetration Goal is 500 customers, tanning at least twice a week for a year. That will give us 41,600 total potential tans in one year.
Package Silver Platinum Gold
Walk In $10 $15 $21
2 Weeks $60 $80 $100
1 Month $100 $120 $140
Automatic
Debt
$80 $100 $110
Includes a
$20 sign up fee
PROBLEMS
High capital costs. Consumer acceptance and brand recognition-
because the tanning industry in a way could be looked at as an oligopoly because there are few companies that control most of the industry
Health and Safty Tan Tax
BUSINESS CONCEPT
Summarize the key technology, concept, or strategy on which your business is based.
Discounts will be promoted for each astrological sign for each month, giving them a 10% discount with proof of birthday.
We will focus on customer service as our best quality
COMPETITION
Major Competitors:
South Beach Tan
Sun Seekers
Solar Planet
All of these companies will be competing with us across the
board seeing that we are selling the same service.
Taurus does not have to worry about indirect competitors
because there are no real replacements for tanning unless
you just go outside.
Our products and services will be identical if not a slight
variation.
GOALS AND OBJECTIVES The future goals for Taurus are to start off on a local
level and build up a good reputation and get into the tanning industry. Then when is has matured on a local level take it up to a higher level and expand and spread throughout the country. Taurus’s objective is to provide the best costumer service at a price that will not break your bank.
Two possible tanning sessions in each operating hour 4,368 x 2 = 8,736 total tanning sessions in one year, for one tanning unit
Seven possible tanning units available 8,736 x 7 = 61,152 tanning sessions available for Taurus Tanning
Taurus Tanning Market Penetration goal is to use 70% of these available tanning sessions 61,152 x .70 = 42,806.4 or 42,807 tanning sessions need to be used in order to
operate Taurus Tanning Goal of 500 customers to tan twice a week for a year
52 weeks a year x 2 times per week = 104 times a year 500 x 104 = 52,000 total tans in one year, which exceeds my penetration goal of
42,807
FINANCIAL PLAN
Outline a high-level financial plan that defines your financial model and pricing assumptions. This plan should include expected annual sales
and profits for the next three years. Use several slides to cover this material
appropriately.
RESOURCE REQUIREMENTS Legal Requirements There are several legal issues when opening a tanning salon. Here we have listed all
the things we need to finish before opening day: Register an employee tax identification number Register business through Maryland Business Registration Contact OSHA Check health codes and permits Inspection of the salon for heating and electrical units Join the North American Alliance of Tanning Salon Owners Setup accounts for:
Financial books Financial statements Payrolls
Hire a lawyer and have him look over or register us for: Lease agreement Retails sales tax Individual income tax Unemployment insurance Workers’ compensation Property taxes Business insurance Business Liability
REQUIREMENTS CONT.
We need to buys beds and blubs The Versa Spa Towels and accessories A washer and dryer A computer
RISKS AND REWARDS
Not enough business due to health effects and media propaganda
Upkeep cost is high Beds are fragile Good income Long term costumers People always want to be tan, its always a
want of soiety
KEY ISSUES
Near term Hiring knowledgeable employees and working
out a good schedule Finding beds at a good price Economy in a rescission
Long term Upkeep is expensive Tan tax and new laws
Receiving a loan to start up could be difficult Not enough tans to make a profit