Business Plan for Complementary Therapies Assignment ITEC Level 3 (GC01827)

Table of Contents

1.0 Mission Statement

1.1 Mission statement

1.2 How you came to this and what it means.

2.0 Market Research.

2.1 Aims.

2.2 How I am going to achieve this aim.

2.3 What is my result?.

2.4 Conclusion.

3.0 Competitor Analysis.

3.1 Types of business I am competing with.

3.2 List of competitors.

4.0 Premises/Work Place.

5.0 Corporate Image, Brand and Logo Design.

6.0 Additional Services, Products & Prices.

7.0 Finance – Start-up, Fixed & Variable Costs.

8.0 Staffing Requirements & Employment Opportunities.

9.0 SWOT Analysis.

10.0 Risk Analysis.

11.0 Marketing & Publicity.

12.0 Additional Professional Services.

13.0 Legal Requirements.

14.0 Security and Data Protection.

15.0 Customer Service and Communication.

References.

1.0 Mission Statement

1.1 Mission statement

The mission of the proposed company is to offer good health services to the patients by providing quality Indian Head Massage services to the customers.

1.2 How you came to this and what it means

Bratton (2017) Business plan is important for starting up a new business. The proposed business is chosen for various reasons in respect of market demand analysis. Firstly, most people are suffering from bad headaches, lymphatic drainage problems, lack of concentration and other diseases from natural sources.  For this reason, there is a+ high demand for quality Indian Head Massage for removing this bad headache and other frustrations. Additionally, the profit history of a similar industry is highly attractive (Anon, 2015). This industry also has established sustainable growth in the present market situation. That is why; this proposed business is taken into consideration to offer quality Indian Head Massage to the clients.

2.0 Market Research

2.1 Aims

According to Robbins (2016), market research is the process of investigation of the condition of the market. The main aim of market research is to find the customers demand and reduce the risk of business by providing accurate information by which business organisation to take a good decision (Bratton, 2017).  The market also helps to collect relevant information of the market by which a new organisation can take the decision to start a business or not. The market research also helps to exist business firms to expand their services to existing or new markets. This research will help to launch a business on Indian Head Massage in a specific area.

2.2 How I am going to achieve this aim

Market research can be done in two ways including primary and secondary ways (Bratton, 2017). The primary way includes customers’ surveys, focus groups, interviews, observation and field works. On the contrary, the secondary way includes the analysis of various websites, journals, reports and others. For the proposed business, it is useful to do research in both ways. Firstly, a customer survey is done for understanding the customer’s expectations. 50 customers are taken as samples to understand the proposed business feasibility. The secondary market research is also done to understand the position of this proposed business industry. The question of the survey includes:

1. What is your expectation from the proposed business?
2. What is pricing level do you want from this business?
3. Do you give importance to the quality of services or prices of this business?

2.3 What is my result?

From the survey of market research, it has found that most of the customers expect they get quality services from the business.  It has also been found that the customers like to take services at lower prices. However, some customers are willing to pay more prices if the quality of the services is good. From the secondary analysis, there is a high demand for quality Indian Head Massage by the customers. The profit history of a similar industry is highly attractive. Robbins (2016) stated that this industry also has established sustainable growth in the present market situation.

2.4 Conclusion

From the market research, it can be said that the customers are very much fond of taking services including Indian Head Massage, iridology, kinesiology, lymphatic drainage massage, meditation, and naturopathy. The primary and secondary market research revealed that this business has a high level of potentiality in the present market because most of the people have faced bad headaches, concentration and frustration problems. Therefore, it is a good decision to start a business for providing the services of Indian Head Massage to the customers.

 3.0 Competitor Analysis

3.1 Types of business I am competing with

Wilson (2016) stated that competitor analysis helps to determine the present competition level in the market. The proposed business will be provided Indian Head Massage services to the patients and clients. Therefore, the competitors include the meditation centre, massaging centre, saloons, and other therapy firms. These businesses are considered substitute firms and these increase the competition level and bring various threats to the proposed company. There are lots of saloons and other mediation firms that exist in the present market. Therefore, the proposed business needs to analyse the position of the competitors and offer better services than competitors.

3.2 List of competitors

The following chart shows the market share of my competitors:

4.0 Premises/Work Place

Dessler (2018) noted that place selection/n is important to gain the success of the business firm. The proposed business will be started in a rented room in a Health Centre because it is convenient to get enough clients. The health care centre is situated in central London that gives a professional feel to the businessman. The future aim of this proposed business is to expand business in more rooms like Sports Club and Spa. The proposed business will rent the premises. The proposed business will be expanded to 10-20 places that can be able to control easily. The proposed business will be maintained all the legal requirements like business certificate and Tax identification card from London.

5.0 Corporate Image, Brand and Logo Design

According to Garrick (2016), corporate name, image, brand and logo design plays a key role to create customer loyalty and brand image in the market. The new business firms should consider several factors to set up the corporate name, image, and brand and logo design. The business name should very easy and simple words by which potential customers can easily understand the business nature. The logo should be well designed that can be able to attract lots of customers (Garrick, 2016). In the case of the proposed business, the name will be massaging the house and used an image to make it familiar to the potential customers. The colours of the business will be based on red and blue and business cards look like the bank card and the staffs will be worked in the workplace by wear a branded uniform by which potential customers will be easily understood the proposed company. The address of this company is info@headmessage.com. The following logo represents my business brand or image………………………………………………

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