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Marketing Strategy Essay

6550 words - 27 pages

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Marketing Assignment
Going Hair Salon
October 1, 2014
Syndicate 5
PMD 37
October 1, 2014
Syndicate 5
PMD 37

Company Overview – Going Hair
Going Hair is a full-service hair salon dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price and value relationship. The business also maintains a friendly, fair, and creative work environment, which respects diversity, ideas, and hard work.
Keys to Success:
* Location: providing an easily accessible location for customers.
* Environment: providing an environment ...view middle of the document...

In 2010, at the age of 65 she and her husband relocated from the Eastern Cape to Gauteng for their retirement, closer to their children. In 2013 she decided that retirement was not for her and looked for an opportunity to open a hairdressing salon, she felt the timing was right for starting this new venture. Patiently searching for a few months for the perfect location, one was finally found in March 2013 when she spotted a small shopping complex in her neighbourhood. The owner of the barbershop in the complex was looking for a co-tenant to rent share the premises and Yvonne thought it ideal to start up a hairdressing business complementary to the barber trade in the middle income suburb of Wierda Park.
This presented its challenges as she needed start-up capital, deposit and rental. The family assisted and at the start of April 2013 the salon was up and running. As much as she concentrated on the interior, she knew something had to be done with the façade of the shop, even though on a limited budget. So the name “Going Hair” went up on the signage space and included both gents and ladies styling, with the two proprietors’ names.
Yvonne is very passionate about her trade and started marketing her new business immediately by approaching people in shopping malls, at social functions, etc., chatting to them and handing them a flyer and card. This showed immediate results as the business started turning within two months created a large client following through hard work and dedication. In August 2013 the barber decided to take up a permanent position with Barber SA as his business had become unsustainable. At R80 for a gent’s haircut, he had to turn a lot of customers a day to cover overheads and even with Yvonne rent sharing he was not making his targets.
This presented another challenge, Yvonne now had to take over the lease for the premises and find another complementary trade to share the shop space, as her business was not yet large enough to sustain the total rental.
Fortunately a couple who owns a sunbed and a slimming business joined in and from this point things started looking up again. They contributed to the business until June 2014 when they decided that they were not making enough profit to be sustainable. Again Yvonne had to look for another complementary concern to help with rent share.
Currently there is a beautician who came on board and Yvonne’s business still survives with the ups and downs of trying to find stable businesses to complement her own trade which has picked up considerably, despite the challenges experienced.
Financials
Going Hair’s overheads currently include and are covered on a monthly basis, the balance is used as the owner’s salary:
EXPENSE | AMOUNT |
Rental (Variable depending on sub rental income) | 5 000.00 |
Insurance | 230.00 |
Bank Charges including POS rental | 900.00 |
Stock (Consumable and Retail) - variable | 1 000.00 |
Marketing and Advertising (Ad hoc) | 300  |
  | 7 130.00 |
...

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