Business Plan for Salon & Spa

Introduction people seek smash. They atomic number 18 constantly looking at to ingest themselves a whole new look or improve what they concord. They drop by the ne best bull and dish antenna beauty parlour to be screw uped by stylists and beauticians to style their tresses, shape their eyebrows, and color their nails all for a few (or more(prenominal)) bucks. An hour in a hair and beauty parlour shop any month and unmatched emerges confident(p) and ready to analyse on the world. Beauty salon and watering hole business has grown rapidly over the past decade. Latest extrapolations from U. S. census info manoeuver the salon and health club redevelopment indus get wind at over $35 billion annually.And that figure doesnt include the retail sale of professional beauty crossings which is at least a nonher $7 billion annually. While traditional barbershops, hair salons and nail salons have experienced moderate growth, high end beauty salons and day spas have seen sig nifi displacet spikes of revenue in recent years. In the recent years, this business has seen redundant profits in Bangladesh. In this moment insertion of Trendster a full-divine service beauty salon to the Bangladeshi market is an exciting new development for us.Our Mission Trendster is dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an revereable atmosphere at an acceptable terms/ measure descent. We fall in alone also maintain a friendly, carnival, and creative depart environment, which views diversity, ideas, and hard deepen state. Owners and source of finance Trendster is a partnership business owned by several owners. Ms. Farzin Ahmed, co-owner with Kabir ahmed, her husband, has worked in a prestigious, upscale salon in Gulshan, capital of Bangladesh for the past two years.Ms. Farzin has created a large client following through hard work and dedication. She and her talented team of beau ticians, has what it takes to make this venture an super successful unrivalled. We expect our growing reputation to lead to new clients and beauticians to condescend our anticipated growth. To get to our objectives, Trendster is seeking additional loan financing. This loan impart be paid from the cash flow from the business, and will be collateralized by the assets of the company, and backed by the character, experience, and personal guarantees of the owners.Address The salon will be located at business firm 25, Road 5, Block A, Bashundhara Residential Area, Dhaka. The salon will utilize 1,540 squargon feet. The muddle is strategically situated on one of the high profile atomic number 18a, with informal access from all parts of town. Justification As we have said before, the owner has created a large client following through hard work and dedication. So, the rising demand from the owners clients, as well as the ambitions of the owner to one day start her own salon, and the procurement of highly professional and strung-out beauticians to support the salon, has made this business one of great potential.Moreover, the salon business in Bangladesh is raising potential. The centrals to success in our business are * Location Providing an easily br oppositely location for customers. * Environment Providing an environment conducive to giving relaxing and professional service. * Convenience Offering clients a wide range of run in one setting, and extended business hours. * Reputation Reputation of the owner and other beauticians as providing superior personal service. Tar bushel Market A level market is a specific, well-defined segment of consumers that a company plans to bunk with its products, run and marketing activities.Target marketing orients all of the various components of the marketing function toward a single group, maximize the appeal of cracks to specific markets. The term objective lens audience is a bit narrower it refers specifically t o the group of consumers sended by advertisements. Now we are going to describe the segments of our salons taper market Category of segmentation 1. Geographic segmentation 2. Demographic segmentation 3. Psychographic segmentation 4. Behavioral segmentation Geographic segmentationmetropolis Dhaka is the capital of Bangladesh . Gulshan , Banani, Baridhara , Uttara , Dhanmondi are most popular area in Bangladesh and most of the rich stack are living in these areas. That is why, people of these areas are our butt customers of Dhaka city. Other than Dhaka, we want to open most branches of our salon in other divisions where the market is promising, such as, Rajshahi, Chittagong and Sylhet. Because, a huge number of people of these cities are wealthy enough to bear the cost of spa services. Moreover, people of these areas are educated and style conscious.So, they deserve a spa shop where they backside meet their demand. If we launch our salon in those areas then it will carry a t rustworthy profit thats really the main cause. A nonher city, which will become another large market after Dhaka, is Coxs bazar. No doubt, the recollectiveest sea-beach has a genuinely large amount of contrasteders who come to enjoy the holidays, must seek the heavenly pleasure of spa service. It will be our best chance to start our business there considering both local and foreign visitors comfort to enjoy the sea-sight with full satisfaction.And no doubt, a huge amount of profit will come from this target market for emerging. 2. Density Certainly we are targeting the urban areas. No doubt, the poor and uneducated villagers will not agree for getting those benefits of spa and they also cannot bear the cost standardizedwise. That is the main cause to target the urban area as a target market. Demographic segmentation 1. Income We want to give better service to the customer than the others. We will let services to the people of distinguishable kinds of income.But the main cond ition will be the customer himself/herself must have that capacity to pay for the service. So, we have planned to make target customers those who are well-off to pay such as, middle and top level employees, business persons, university faculties etc. we are also fissureing reasonable damage for the students whose income ranges 6000-1cc0 with discounts. 2. development Students of different universities who are fashion conscious are our target customers. We are offering discounts for the students. Now, it is not manageable to target the students of whole Bangladesh, or outside the Dhaka city.In this respect, we are emphasising on those who are near to our shop, such as, students of NSU, IUB, AIUB etc. it is sure that targeting this segment, we are going to get a huge number of customers who are students. 3. Age and education Though our target market is different employees of good amount of income, business persons and students, but we cannot ignore others beside these customers who too take the services every only haircutting or spa service with barber services. The details of these customers, their potentials, occupations are stated below with target customers.Age Occupation Details Market potential 5 to 12 (children) Kindergarten students or primary students Do not have so a great deal bopledge on hair-stylingBirth rate in Bangladesh is increasing Weak 13 18 Teenagers Secondary school students Begin to follow the current trendStrict rules in secondary schoolSmall consumption power Medium 18 -25(young adults) University students Normally no rules confine their hair style Have income sources because can be a home tutor or doing so work through internet like as free launching etc. Strong 25 to 40 (mature adults ) Doctor , engineer, teacher, banker , marketing officer, business man , Do not communicate with customers Income sources Medium 40 -60(Middle old adults ) Doctor, engineer, teacher, banker, marketing officer, business man. Problems of hav ing less hair resulting to pay more on hair discussion Quite tight Above 60(old aged adults) N/A Normally do not have so much hair Weak Psychographic segmentation 1. Lifestyle From achievers and striver obviously it is possible to make good profit because they are really so tendingful somewhat their lifestyle.But from the survivors the market potential is so weak that we were forced to target the achievers. 2. friendly class The upper class people is always careful round their life. So, its obvious that they will agree to spend much money if they get quality services. So from this segment our main target will be upper class people. The middle class people also careful round their hair and other elements of fashion, but not as the upper does. Behavioral segmentation 1.Occasion In Bangladesh Eid, Pahela Baishakh, puja, Valentines day are the occasions people save with great joy. In this time we can give some special offers or discounts for the customer for building a good re lationship with the customers. We will give same facility like as another salon like as ours but will give service cut rate than them for marriage ceremony occasions. 2. Benefit We will provide good quality products to give the service of the customer to attract them to this salon. If we do this then we will get some regular customers who will be profitable for us. User Status We will provide discount for the regular and first time user that will dish us to attract them to this salon which is essential to make good relation with the customers and to attract the customers for our salon. Positioning schema Positioning strategy is the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. Core Idea Concept simply describes the product or service. Its routine is merely to determine whether the idea has any interest to the end buyer.Positioning Concept attempts to sell the benefits of the product or service to a potential buyer. The status concepts focus on the rational or emotional benefits that buyer will receive or feel by using the product/service. A successful lieu concept must be developed and qualified before a positioning literary argument can be created. The positioning concept is shared with the target audience for feedback and optimization. trademark positioning process Effective Brand Positioning is contingent upon identifying and communicating a brands uniqueness, differentiation and verifiable value.It is important to note that me too brand positioning contradicts the notion of differentiation and should be avoided at all costs. This type of copycat brand positioning only works if the business offers its solutions at a significant discount over the other competitor(s). Generally, the brand positioning process involves 1. Identifying the businesss direct rival (could include players that offer your product/service amongst a larger portfolio of solutions) 2. Un derstanding how each competitor is positioning their business today (e. g. laiming to be the fastest, cheapest, largest, the 1 provider, etc. ) 3. Documenting the providers own positioning as it exists today (whitethorn not exist if startup business) 4. Comparing the companys positioning to its competitors to identify viable areas for differentiation 5. Developing a distinctive, differentiating and value-based positioning concept 6. Creating a positioning statement with key messages and customer value propositions to be used for communications development across the variety of target audience touch points (advertising, media, PR, website, etc. )Product positioning process Generally, the product positioning process involves 1. Defining the market in which the product or brand will compete (who the relevant buyers are) 2. Identifying the attributes (also called dimensions) that define the product space 3. Collecting nurture from a sample of customers active their perceptions of each product on the relevant attributes 4. Determine each products share of mind 5. Determine each products current location in the product space 6. Determine the target markets preferred combination of attributes (referred to as an saint vector) 7.Examine the fit between * The position of your product * The position of the ideal vector Product Positioning for salon Product positioning refers to all products and services, not just the physical products that we use (and sell) in our spa. Product decisions include * Brand * Quality * Styling * Safety * Packaging * Guarantees * Support set Positioning for salon determine spa products and services is a key element of the marketing mix. Pricing decisions influence all your other marketing decisions. Pricing decisions include * Skim pricing (to maximize profits) Penetration pricing (quantity maximization) * Suggested retail price * Discounting * Bundling * seasonal worker pricing We have considered the following To maximize profits, should we price our services and to skim the cream off the top of the market, to those who are less price sensitive? Will our target customers support that strategy? Will we and our employees be better served if we keep prices low, to reach a broader market? Will we sell at (or below) suggested retail price? Will we offer discounts by bundling products and services? Do we run seasonal promotions?When clients buy spa packages, do we offer discounts on products and/or future services. Selecting an overall positioning strategy Consumers typically chose products and service that give them the greatest value. Marketers want to position their brands on the key benefits that they offer relative to competing brands. The full positioning of brand is called the brands value proposition the full mix of benefits upon which the brand is positioned. More for more More for more positioning involves providing the most upscale product or service and charging a higher price to cover the highest cost.Black cut hair salon, so much included instrument. Each claims superior quality, durability, performance, or style and change a price to much. Not only is the marketing offers high in quality. It also offers prestige to the customer. It symbolizes status and a loftier lifestyle. Often the price difference exceeds the tangible incrementing quality. In general , companies should be on the lookout for opportunities to introduce a much-more-for-much-more brand in any underdeveloped product or service social class yet more-for-more brands can be vulnerable.More for the same Hair salon can attack a competitors more for more positioning by in traducing a brand offering comparable quality but at a lower price. Black cut hair salon its Lexus line with a more for the same value proposition. The same for less offering the same for less can be powerful value proposition everyone likes a good deal. For display case ,fair and care salon offers equivalent service at a lower price for performance . D iscount stores such as spa service. Less for much less A market almost always exist for products that offer less therefore cost loss.Few people need , want , or can afford the very best in every affaire they buy. In many cases , consumers will gladly settle for less than optimal performance or give up some of the bells and whistles in exchange for low price . less-for-much-less positioning involves meting consumers lower performance or quality requirements at a much lower price. For congressman fair care hair salon general stores offer more affordable goods at very low price. More for less of course, the winning value proposition would be the offer More for less. Many salon claim to do this.For example, fair and care salon claims to have better products and lower prices for a given level of performance. In the short run , some companies can actually achieve such lofty positions. Yet in the long run, companies will respect it very difficult to sustain such best of-both positioning. Offering more usually costs more , making it difficult to recall on the for less promise. Fair and care salon that try to deliver both whitethorn lose out to more focused competitors. The important thing is that each company must develop its own positioning strategy, one that makes it special to its target consumers.Offering only the same for the same provides no competitive advantages . divergence the firm in the middle of the pack . salon offerings one of the three losing value propositions_ the same for more, less for more, less for the same_ will inescapably fail. Here, customers soon realize that theyve been underserved , tell others and abandon the brand. Positioning statement Company and brand positioning should be summed up in a positioning statement. The statement should follow this form To target segment and need our brand is concept that point of difference.The positioning first states the product membership in a kinfolk (spa or salon business) and then shows its po int of difference from other members in house has more salon. Placing a brand in a specific category suggests similarities that it might share with other products in category but the case for the brand in a surprisingly different category. eminence Strategies of beauty salon Differentiation Strategies This strategy involves selecting one or more criteria used by buyers in a market and then positioning the business uniquely to meet those criteria.This strategy is usually associated with charging a tribute price for the product often to reflect the higher production costs and extra value-added features provided for the consumer. Differentiation is about charging a premium price that more than covers the additional production costs, and about giving customers clear reasons to prefer the product over other, less differentiated products. Top of Form * complemental Services This will encourage additional customer purchases. For example, If you offer facials, offer a free make up con sult with every facial.Customers who like to pamper themselves will appreciate the additional offers and your salon will make more money. * Products Sell products that relate to the services you offer. For example if you offer braiding, you can sell hair maintenance product such as braid spray, hair food e. t. c. You could also create your own product you could have different beauty services put together as a package deal. * Atmosphere Create an atmosphere in your beauty salon that allows you to charge a premium price for your services. For example, make your beauty salon feel like a spa with, soothing music and soft lighting.When customers feel rejuvenated and look great after they leave your salon, they will pay more and return more frequently. * Target group Differentiate your beauty salon from your competitors. For example, if your primary competitor focuses on high-end appointment-based clients, you should focus on basic services and walk-in clients. On the other hand, you coul d offer services that are not available at your competitors salon. If your competitor only offers hair services, you should offer nail services, facials and makeup services. Strategy Differentiation counselIn the differentiation focus strategy, a business aims to differentiate within just one or a fine number of target market segments. The special customer needs of the segment mean that there are opportunities to provide products that are clearly different from competitors who may be targeting a broader group of customers. The important issue for any business adopting this strategy is to ensure that customers really do have different needs and wants in other words that there is a valid basis for differentiation and that existing competitor products are not meeting those needs and wants.Strategy Cost Focus Here a business seeks a lower-cost advantage in just on or a small number of market segments. The product will be basic perhaps a similar product to the higher-priced and fe atured market leader, but acceptable to sufficient consumers. Such products are often called me-tools product differentiation (also known simply as differentiation) is the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. This involves differentiating it from competitors products as well as a firms own product offerings.Rationale Differentiation can be a source of competitive advantage. Although research in a niche market may result in changing a product in order to improve differentiation, the changes themselves are not differentiation. Marketing or product differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of a firms product and create a sense of value. Marketing textbooks are firm on the point that any differentiation must be valued by buyers .The term unique selling proposition refers to advertising to communicate a products differentiation. * Ignorance of buyers regarding the essential characteristics and qualities of goods they are purchasing * Sales promotion activities of sellers and, in particular, advertising * Differences in availability (e. g. timing and location). Marketing mix Marketing mix is the set of controllable tactical marketing tool- product, price, place and promotion- that the firm blends to produce the response it wants in the target market. The marketing mix is everything we can do to influence the demand for our service.The four groups of variables known as the 4 Ps product, price, place, promotion. The marketing mix of our salon is stated below Product Product is actually the services we will provide to the target customers in our salon. There are different types of services in our salon starting from hair cutting of male and female, hair coloring service, skin care treatment, different types of massages to sooth the people from dif ferent types of pressures and other different kinds of salon and spa services. All these services are to be given with great care keeping the customers satisfaction in the mind.In the following, the list of services is given Salon and Spa ServicesHair Salon Business Services? Haircuts, styling and trims. ? Hair coloring and highlights ? Hair and scalp treatments. ? Hair shampoo and conditioning. ? Hair relaxers and perms. ? Hair curling, reconstructing and waving Nail Salon Business Services? Manicures. ? Pedicures. ? Nail polish. ? Nail repair and sculpting. ? Hand conditioning. Day Spa and Beauty Business Services? organic structure scrubs. ? organic structure wrapping and herbal wraps. ? Massage and aromatherapy. ? Hot stone therapy. ? Acupuncture and Reflexology. ? Derma abrasion. ? Anti-aging. Facials. ? physical composition and makeovers. ? Skin cleansing and care. ? Body waxing.? Polishing, buffing and bronzing. ? Tanning. ? Piercing. Salon and Spa ProductsHair Salon Pro ducts? Shampoos. ? Conditioners. ? Extra hair treatment. ? Pre-styling products. ? Hair styling products. ? Hair finishes. ? Brushes and hair tools. Skin Care, Nail and Beauty Products? Face skin care products. ? Body skin care products. ? Makeup. ? Makeup tools. ? Nail polish products. ? Nail finish products. ? Nail tools. ? Perfumes. ? Bed and bath products. The list tells that how our shop is and how its work quality will be.Price Now, we will discuss about the second variable of marketing mix of our shop. In every business farm, one of the major(ip) activities is to set price of the services. The price must be fair and within the budget of the people. Also, it is also important to set price in such a way that, a farm can attend its profit. So, we have tried our best to set a fair price which meets the customer vale and our profits. The price list of our services is given below Service providing Price (BDT) Hair Salon Business ServicesHaircuts, styling and trims. 200 Hair colori ng and highlights 350 Hair and scalp treatments. 500 Hair shampoo and conditioning 350 Hair relaxers and perms cd Hair curling, reconstructing and waving 400 Shaving (foam) 100 Shaving (gel) 150Day Spa and Beauty Business Services Body scrubs 1000/hr Body wrapping and herbal wraps 1000/hr Massage and aromatherapy 000/hr Hot stone therapy 1000/hr Facials (Men) 600 Facials (woman) 1000 Makeup and makeovers 2000-3000 Skin cleansing and care 800 Body waxing 500 Polishing, buffing and bronzing 800 Nail Salon Business Services Manicures 500 Pedicures 500 Nail polish 200 Nail repair and sculpting 200 Hand conditioning 300Place Place include the farms activity that makes the service available to the target customers. Place must be a qualified site or location where people can easily get access without any hazards. Since, we are new in the salon market service and also in introduction stage, so it is actually not possible for us to open more than one branch in the city. Certainly o ur target market is the people of Dhaka and our shop will also be in Dhaka, but it seemed a great hectic job for us to find out a suitable place to open the salon. We thought, since Persona has its branch in Gulshan, Banani and Uttara, it will not be profitable for us to open a new salon and spa business in those busy and royal areas.But there is a place where Persona still did not open their branch. The place is Bashundhara Residential Area. So, this was the best chance for us to open and grab a whole market of Bashundhara where different University students, business persons, employees of different big corporate giants live. promotional strategy 1. Stealth marketing Viral marketing is used to build brand awareness. Viral marketing is done through Facebook, twitter and other different blogs. 2. Referral program Referral program is a very powerful word of mouth advertising and more believable than any other form of endorsement. It is done in the first place by endorsements or refer ence. Reference can come from friends and clients.The most powerful recommendation is the recommendation of clients who will tell to his/her friends about the service we will provide him/her. For this reason, we have to identify those people who can influence our target market and get them endorse our service. 3. Telephone marketing Everything should be about increasing comprehend value of the service in the eyes of the clients. Now the question arise how telephone marketing helps us? Every single contact clients has with the business forms a perception, either good or bad. In telephone marketing, we have to call our clients and let them know about our new promotions. Not only that, we have to strike them questions that what he/she thinks about our service according.Another part of telephone marketing is, if the clients ask us about any problems and solutions, then we will solve the problems by providing them guidelines. 4. happen in touch It will be very important for our busine ss to give emphasis the existing clients and customers. For this, we have to maintain a good relationship by remaining in touch with them. We can be in touch with them by sending promotional materials, greeting cards, birthday wishes and by e-mails. electronic mail marketing is highly effective to build and maintain relationship with existing customers and also to build loyalty and trust. 5. The power of free The customers who regularly take the service of salon and spa, mainly they get some gifts from the salon. But as we are new in the market, we are giving gifts to the customers from now.Those who would have already arrived to us for victorious our service more than three times, we will actually offering them different kinds of gifts. The gifts are cosmetics, skin care products, hair care products, salon voucher, product samples etc. this system is called Gifts with purchase (GWP). 6. Perform SWOT analysis SWOT analysis too plays a great fictional character in promotion. SWOT analysis helps to know which are our strengths, our weakness, and what is our opportunities and threats and considering these four variables, to check and analyze our strengths, weakness, threats and opportunities. By researching these four, we can promote our business easily with practical logics.Our strengths are, we are placing our business in such a place where there is no salon and spa which can provide the services as we are providing. Not only that, we are charging comparatively cheaper than other salon and spa shops in Dhaka city with qualified manpower. By doing our SWOT analysis, we got some weakness in our business which is not surprising because, we are new in the market and weakness will be there. These weakness are since we are new, we dont have that much manpower, but the good news is that the existing manpower are as good as other reputed salons and spas. Another weakness is we cannot charge more than other salons and spas in our every service since we are still in introducing stage and people are lacking about our brand.Our management is not consists of experts like persona or women world, the employees are still learning, so it is sure that we have to wait for a long time to take our salon in the top. We have got huge opportunity to take ourselves in a class of reputed salon and spa shop. Salon and spa shop market is not that much widespread in our country, only in Dhaka there are some spa shops and in Chittagong too, there are may be 2 or 3 salon and spa shops, but those are very costly, actually located in five star hotels. In other cities, there are no salon and spa shops. So we can extend our business throughout Bangladesh and can create an opportunity for those people who cannot afford the huge cost of salon and spas and we can accession our brand image.There are some threats for us in this market. We are not thinking that we will be dissolved in this market, but there is a threat of not reaching in our vision. Because other salon and spa like Persona, Womens World are so popular, strong and wide that, we may remain under them, ie, the competition is intense though the competitors are small in number. Another thing is that since our services are cheaper than others, so we may face up losses in first few years which may create problems for us to attain a good return on investments (ROI). However, we are confident that despite weakness and threats, we will be the best salon and spa service institution in Bangladesh. Advertising mediaMedia is the most important medium of conveying the messages to the people. people come to know about a product or service at first through media. So media plays a big role in a product or service development. We considered some major steps in selecting advertising media. These major steps are 1. Deciding on reach, frequencies and impact. 2. Choosing among major media types. 3. Selecting specific media vehicle and 1. Deciding on reach, frequencies and impact To select the media, the a dvertiser must decide on the reach and frequency needed to achieve advertising objectives. We are not unaware of this fact. So we also decided on reach, frequency and impact.Reach is the measure of percentage of people in the target market who are exposed to the advertisement campaign during a given period of time. Frequency is a measure of how many times the average person of the target market is exposed to the message. The media impact states whether our advertisements are of that quality which can attract person or convince a person to come in our salon. 2. Choosing among major media types We had to see advantages and limitations each and every media types when we had to select the medium. We have chosen those mediums that effectively and efficiently present the advertising message to target customers within our budget. Thus we considered the mediums impact, lastingness and cost. The mediums are 1.Newspaper Advantages are flexibility, timeliness, can cover the local market very well and high believability. The limitations are, short life, where people can surely forget about the promotions. 2. The internet High selectivity, low cost, immediacy, interactive capabilities are advantages. Limitations include relatively low impact than the television. 3. Direct mails High audience selectivity, flexibility, no advertisement competition etc. limitations include relatively high cost exposure, junk mail image. 4. Magazines High geographic and demographic selectivity, long life and good pass-along readership. 5. Billboards Flexibility, high fictionalise exposure, low cost, low message competition, good positional selectivity.Limitations are little audience selectivity. Selecting specific media vehicles Since it is important to select the best medium, it is also necessary which brand or vehicle in that medium will gain the attention of the people. The media vehicle makes the product or service believable to the customers certainly that vehicle does which has huge po pularity, good reputations. As newspaper is the medium, we have planned to put our advertisements in the most popular newspaper which is sold in the highest numbers and which is also holds the position of no. 1 in presenting reliable newspaper and magazines. The Daily Prothom Alo and The Daily Star. People will surely response.In the internet, we are mainly targeting to put our advertisements in Facebook. Since Facebook is very popular social networking site and also more used than Twitter and other social blogs, so people will come to know about our service easily. Competitors Analysis In salon and spa marketing, though the competitors are few in number, but the competition is still high. This is because of the brand image of the competitors. People trust them and easily convinced by their offers. People don not hesitate to take their services despite knowing that they will charge high. Competitors like Persona, Womens World, Studio Menz did not create their brand image in one day. They did it with hard labor and patience, providing high quality service by qualified men power. They charge high too for the services they provides. A short price list is given below Service Competitors (BDT) Trendster (BDT) Haircut 300-600 100-200 Hair color and treatment 500-1000 200-500 Makeovers 3000-6000 2000-3000 Facials 800-1500 600-1000 Nail treatments 300- 700 300-500 Aroma therapy 1000-1500 800-1000 Other spa services 1000-10000 800-2500 So these are the competitors price list differs from us. Though it looks that, we are better than us in respect of pricing, but there are some things which make them better than us.In the following, the points are given 1. Our competitors like Persona, studio menz have more qualified manpower than us. 2. Their target market is stronger than us. 3. They have more than 3 branches in the Dhaka city, even some of them has outside of Dhaka. 4. Their ROI is surely better, and they earn good amount of profits. 5. They placed their shops in th e suitable places where people can comfortably access. 6. The most important factor is that, they have a very strong brand image, for eg Persona. If we have to sustain in the market and create a brand image of our own, then we must do whatever our competitors are doing and try to do better than them.Our competitors are strong and popular among the people, but we are also determined to be like them and within few years, we will be at the same shoulder height. deduction So, after seeing all the relevant factors, we can say that, Trendster will be one of the leading salon and spa business holder in Bangladesh. Our strategy, considering the fact that we are in introducing stage, is right and practical. Though in the initial stage it is not possible to gain profit, even it is not possible to exposit the business like Persona as it is now in. Everything needs time to get set, so as our business. We need time to get set ourselves in the market. As time will gradually pass, we will be nea r to our goal if we remain on the right track.