Opportunity
Problem
First impressions count. A great haircut is crucial to making a good first impression. Not everyone can afford to spend a few hundred dollars and a few hours to get a good haircut. Budget constraints are a common problem for many families. These people need to have a place to go for this stuff.
Solution
Cranium Filament Reductions will stand out by providing superior customer attention. Cranium is known for its “quick Salon” model, which has lower margins and is focused on delivering high-quality customer service.
Market
The hairstyling market is highly fragmented. Regis Corporation owns a number of franchises and caters to all market segments. Regis Corporation also operates thousands of small-scale salons with very limited scope and limited services. This makes for a highly competitive market that has low barriers to entry and exit. The low switching costs mean that hair styling clients have a significant advantage. Many companies have tried to achieve market share through one strategy. Cranium believes it’s possible to offer a differentiated customer service with improved customer service for no significant cost if you provide the right incentives to employees.
Competition
The buying patterns of men and women are quite different. Men tend to be more concerned about convenience and cost. Men usually care less about the task involved in getting their hair done. They prefer the easiest way. Women, on their other hand, get more involved in hairstyles and are more likely to form close relationships with their stylists. They are also more loyal to their salon because they feel closer to them. When a stylist earns their trust, they are more inclined to trust them with their hair.
Why Us
Cranium Filament Reduces’#8217’s mission is to provide affordable and convenient hair styling. We are here to serve our customers. Everything else will follow this principle. Our services will exceed the expectations of our customers.
Expectations
Forecast
This is a service company so it doesn’t generate high profitability. The people who work in it make a decent living.
Financial Highlights by Year
Financing Needed
The required financing is $105,000 This includes a $45,000 loan as well as owner investment (Susan), which is $60,000.
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