Market Analysis

1011 Words Feb 27th, 2016 5 Pages
Men Grooming Service

Question 1: Describe your Business
A men grooming service encompassing Head Shave, Beard Trim, Hair Care and general grooming services, delivered in a professional atmosphere.
Question 2: What benefits of the product or service enables your business to stand out from your competitors?
Two benefits of the business will stand out- professionalism and a high quality, personalized customer experience. The vision is to merge the best of old grooming techniques with the latest equipment and technology to change the landscape of a man’s haircutting experience in Nigeria.
Q 3: Does this meet a particular need or demand (your competitive advantages if any?)
Yes. There are large numbers of professionals and middle class
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Since our success is dependent on providing a high level of service – one that is difficult to obtain elsewhere- service failures can quickly lead to business failures. We will mitigate this by training staff and showing an untiring corporate commitment to service.
Q11: What are your current and expected sales within the next 12 months (units + income)? If there is any seasonality, please explain For one location, we target 40 customers per day, each of whom will spend an average of N500 on any of our services. With a daily sales figure of N20,000, we expect a gross income of about N6million in 12 months. The business is active all year round as there are no seasonality.

Q12: What amount of sales, in Naira per month, must you achieve to reach profitability? Amount in Naira, enter numbers only; if none, enter 0
N300,000

Q13: When do you intend to achieve this (how many months after receiving your first grant award)?
We intend to achieve this at most two months after receiving our first grant award.

Q14: YouWin Award
We are requesting for a total of 9 million from YouWin
3 Locations (Gwarinmpa, Kubwa, Wuse II)
Kubwa – 2.5 Million
Gwarinmpa- 3.0 Million
Wuse II- 3.5 Million

* Equipment- add figures here * Rent- add figures here * Salaries and Wages- add figures here

Q15: What is the minimum equipment cost that is necessary to commence trading or expand your business? Amount in Naira, enter numbers only; if none, enter 0
N3,000,000

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