Assignment:
Students will conceive an idea for a spa and develop a plan for their business using the concepts and material covered over the course of the class. On the last week of class students will turn in their written portion of the project and give a 10-minute presentation on their spa concept in front of the class. 100 points for the written portion of the project and 100 points for the presentation.
Written Business Plan
The following information should be included in your spa business plan:
• Business Name - A thoughtful business name that gives a quick description of the services you offer to entice new customers. Please explain why you chose this name.
• Business Location - Where is your business located? Why did you choose this location?
• Mission Statement - Explain the reason for your company's being in 30 words or less.
• General Company Description - What business are you in? What will you do? What makes your business unique?
• Company Goals and Objectives - Where do you want your business to be short term and long term? What are your annual sales targets and how did you come up with these numbers?
• Target Customer - Demographics (age, annual income, education, city region) and psychographics (Psychology, lifestyle, behaviors and hobbies) of your target customer.
• Competitors - Identify your competitors (at least 3) in the market where you would like to open your spa. Explain why you feel they are your competition and what sets you apart.
• Products and Services - What services do you offer? Please include a spa menu and pricing.
• Marketing/Promotion Plan - How will you get the word out to potential customers? Advertising? Social Media? Explain how you intend to get people to walk through your spa doors. Please try to be creative.
• Mood Board - Create a mood board with images that best portray the look and feel of your spa. This should include color scheme, design elements, images that express how you want your client to feel when you walk in the door and anything else that exhibits your business visually.