The business plan is of a skin clinic and slimming center in Australia- Aura Slimming and Skin clinic. This clinic will provide customized slimming and beauty solutions to clients in Australia. The clinic will adopt modern technology to cater to the beauty and slimming requirements of customers. There will be an open air gym equipped with modern machineries and experienced trainer who will guide the client in the weight loss journey .The clinic will also be equipped with slimming machines which will used modern technology to increase the metabolism of clients with the help of vibration that will be send in their body with pads attached to the machines. Hand massages with machines to burn cellulite will also be provided. The clinic will also provide chemical peels, laser technology for hair removal and skin lightening and injections like Botox and Platelet Rich Plasma to arrest the age of the clients. The clinic will also have a salon for hair color and styling and make up. The clinic will first be opened in major cities like Perth, Sydney, and Melbourne and then it will expand in other parts of Australia based on franchise model (McKeever 2016).
Urban population of Australia is interested in adopting innovative technology in beauty and slimming to their lifestyle. The beautiful beaches and night clubs in Australia are a major part of the lifestyle of Australian youths. So there is an increase in population of clients who are keen on beauty and fitness and the clinic will be an ideal fit to cater to their requirements. The clinic will also offer education about skills and technology in field of beauty and slimming to other salons and clinics in Australia. The clinic will have experienced professionals to provide this education and training. Also our clinic space will be rented for events like photo-shoot and engagement of clients (Schaper et al., 2014).
The industry of slimming and beauty is competitive in Australia. There are an increasing number of open air gyms, slimming centers and beauty clinics in Australia. The Australian population is concerned about their health and fitness and so there is a potential market of customers in Australia.
Our customers will be
1) The clinic will be cater to the beauty and fitness needs of men, women, boys, girls and kids (Burgess 2015).
2)Aura Slimming and Skin Clinic will have beautiful office space beside beaches and serene atmosphere in cities of Australia like Sydney, Melbourne and Perth .So these office spaces will be rented to events like photo-shoot and wedding or birthday celebration.
3) The customers of the clinic will also be professionals of slimming and beauty who are seeking technical knowledge and skills in slimming and beauty. Aura Slimming and Skin Clinic will have an expert panel of freelance professionals and employees, doctors and trainers who will provide training to young professionals seeking technical assistance(Bryman and Bell 2015).
The competitors of Aura Slimming and Beauty Clinic in Perth will be Snap Fitness, Willpower Health and Fitness Studio, Anytime Fitness, Tony Ferguson Weigh loss center, Unity Gym, Level 4 Health Club, Wellness Group in Sydney, Anytime Fitness and Lifestyle Breakthrough in Melbourne. The competitors of Aura Summing and Fitness are salons like The Glamhouse Hair and Beauty, Heading Out hair and beauty, Atone Lifestyle Salon in Melbourne, Face First Beauty Salon, Evoke Hair and Make- up Salon, Beauty Express, Sebastian Salon, Fields of Beauty Salon in Sydney, Ella Bache Salon and Spa West Perth, Reflection Studio for Hair, Platinum Studio in Perth (McKenzie 2015).
The Aura Skin Clinic and Slimming Center will be unique in terms of providing solutions to customers as it will be a one-stop solution to the skin and slimming requirement of customers. Benchmarking of the clinic against competitors is done on basis of the services the clinic will better serve the customer needs (Shen and Bissell 2013).
1) The clinic will have an open air gym with well experienced trainers who will provide weight training and tailor-made diet charts
2) Slimming centers equipped with advanced weight loss machines, Far Infrared Machines and hand-held machines for body massages to burn cellulite.
3) Skin clinic which will provide chemical peels, Platelet rich plasma and Botox injections for younger skin, and laser treatment for hair removal. All these treatments will be provided under supervision of doctor.
4) The clinic will have a hair and make-up salon for men, women, boys and girls for services like hair color, hair styling and party make-up
5) The professionals seeking technical know-how are also customers of Aura Slimming Center and clinic and they will be trained under the supervision of expert professionals.
Power of Suppliers
In respect of the skin care requirements at Aura Skin Clinic & Slimming Centre, the number of suppliers for raw materials are low-moderate. On the other hand, there is weakening of the enhanced supplier power by the fact that there occurs backward integration of the Service Providers for producing their personal ingredients. The suppliers in respect of the Beauty Services category, on the other hand, still do the exhibition of moderate suppler power. Regarding the slimming section requirements, depending upon the low adoption levels as well as fitness equipment being a durable product, there is a low supplier power.
In respect of the slimming section, with the evolution of the high-tech facilities, there is a supplier’s demand that offer better products. Such differentiated products will be increasing the supplier power. For the skin care requirements, since there is no substitute in respect of specific chemicals, the suppliers are having moderate power.
Power of Buyers
Depending upon the capital expenditure and having the involvement of the business methods, there is no possibility for backward integration at Aura Skin Clinic and Slimming Center. Based on the huge availability of service providers as well as product brands, there is a very low switching cost in association with the buyers, which gives them moderate power over the Service providers.
Threat of New Entrants
In respect of the skin care segment, new organizations will be investing heavily in product innovation as well as brand recognition. This is considered being a potential threat in respect of a new entrant. To enter the market there is the requirement for significant capital investment relating to machineries as well as factories. Since, the switching costs in association with the consumers are very less depending upon the availability of huge number of service providers, a new entrant cannot have a dedicated customer base that it is expecting. On the other hand, when a new entrant will having the ability for providing a differentiated service, it might be acquiring a dedicated base of customers.
There will also occur severe retaliation regarding products rather than the services within the Health & Wellness sector. International organizations that are prevailing within the product category will be resorting to severe price wars, introducing product lines as well as aggressive marketing for the elimination of a new entrant. Regarding services, retaliation will get affected via tariffs, additional benefits as well as value-added services.
Threat of Substitutes
In respect of the slimming category, there is a very low switching cost. For instance, there exists a very limited section of initial subscribers of a slimming centre, who continues to avail its services over a time-period. It is considered a lot easier for switching to a substitute.
On the other hand, in respect of the skin care category, there exists a higher switching cost since customers are having the requirement for specialized information towards using traditional services. Moreover, they are also having the requirement towards investing significant amount of time as well as effort.
Competitive Rivalry
Since there is a steadfast growth of the health and wellness industry, there is the existence of very low exit barriers. Organizations are showing willingness towards acquiring present organizations for acquiring their established base of customers. There also exists a low entry barrier in respect of the health and wellness category.
The target market of Aura Slimming and Skin Clinic are fashion and fitness conscious boys, girls, men and women of Australia.
The target market can be segmented on basic on geographical, demographical and psycho-graphical segments. Though the skin and slimming clinic will have a multi-segmentation approach (Kotler, Harker and Brennan 2015).
1) Geographical Segmentation- Aura Slimming and Skin clinic will initially be opened in Perth, Sydney and Melbourne and then expand based on franchise model.
2) Demographic Segmentation-The clinic will target urban Australian youths with high disposable income. The clinic will also provide its services to B-2-B customers like professionals who are seeking technical know-how.
3)Psychographic Segmentation is based on Values and Lifestyle and the market of the clinic will be segmented into customers who are concerned in health and fitness and are ready to spend money to have a fit body and look younger. Fashion magazines, televisions and celebrities play an influential role on the psychology of youths to be conscious about fitness and beauty (Cross, Belich and Rudelius 2015).
Beach, night clubs and pubs are an integral part of lifestyle of Australians. People have huge disposable income and are willing to spend money on innovative technology used for slimming, fitness and healthcare. The Aura Slimming and Skin Clinic will be a one stop solution to individual fitness and beauty requirements of clients.
The Aura clinics will be operated by Enterprise Resource Planning software which will centralize the management of all the branches of the skin clinic and slimming center. The machines, cream, shampoos, beauty products and other stocks of the clinic will have a tracking id. The stock-entry and stock-out can be easily tracked using this software. The Aura Clinic will be equipped with modern technology in slimming and beauty like vibration machine, Far Infrared machine for increasing metabolism and decreasing cellulite from client’s body. The clinic will be equipped with treadmill, sauna , bicycles, weight-training machines, thermal body packs which will reduce cellulite of clients .The infra-red sauna can be used to alleviate ailments like knee pain or diabetes. Innovation in slimming and beauty like laser for hair removal, Botox for anti-aging and chemical peels will be available in the clinic. The clinic will have an expert panel of therapists who will have the technical know-how of innovative technology of beauty and slimming and they will provide customized beauty and slimming solutions to clients (Park and Baek 2014).
The brand of Aura Slimming and Skin Clinic will be associated with innovativeness in slimming and beauty. The organization will be an innovative beauty and slimming center and will cater to individual needs of customers. The brand mantra of Aura clinic will be “Do It Innovatively.”
Aura Skin Clinic will have doctors who will give a patient hearing to the skin and slimming needs of the clients followed by a skin and body analysis of the clients will be done. The clinic will be equipped with machines to analyze the body composition, skin and hair types , ideal body mass index of customers. Therapists will have a talk with customers to understand their medical background, lifestyle –sedentary or active etc. Clients will be given a customized diet chart based on their blood group. Therapists will provide treatments like Botox, laser for hair removal, Platelet rich Plasma under the guidance of doctor .Experienced trainer will guide clients in the gym (Lim, Husain and Zakaria 2013).
A center manager in each clinic will handle the day-to-day operations of the clinic. A marketing team will be present to make an increase of the store drive of customers by organizing above the line and below the line promotional events and a finance team will also be appointed.
The Aura Slimming and Skin Clinic will organize events inside the stores every month. Discounted services will be given every month.
The customer relationship management software which will be a part of ERP software will be used to track details of each customer. A customer loyalty program will be organized for loyal customers of the clinic. Customers will get a loyalty card and points will be added in the cards of customers for the services they will avail in the clinic. The points which will be accumulated in the card can be redeemed at nearby restaurants where customers can eat at a discounted price. Advanced payment cards for customers will be available and they can make a payment just once and take services throughout the year. (Peck et al .2013).
The chemical Peel price-$ 160 single unit, The Botox and PRP price -$ 300 single unit, Haircut , coloring and make up-$ 70 to $ 200 based on experience of stylist and brands of products used.
Gym services- $ 70 per month to $ 800 a year
Beauty products like advanced shampoo, cream, serums -$ 30 to $ 300
Strategies and Tactics of Aura Clinic will be
1) To increase customer base by introducing advanced payment system. Customers can make a one-time payment in the clinic and will be able to use services for a year.
2) Promotional events will be conducted every month like celebrity guest visits, discounted services for hair styling and make up
3) Upton 50 percentage off on services and products will be provided to customers twice a year
4) Loyalty cards will be introduced for regular customers. Customers can accumulate points in loyalty cards for the services taken in the clinic and can redeem the points against further services of the clinic. The clinic will have tie-ups with local food joints and movies where these points can be redeemed. This strategy will drive footfalls in the clinic.
5) Promotional events like Refer to a Friend and get up to 50% off in next service etc will be conducted.
6) The Aura Clinic will use both above the line and below the line promotional strategies to promote itself in local newspapers, television, radio, social networks (Black 2013).
Data mining tools will be used to track the changing customer needs online and digital technology will be used to promote the clinic on online platforms like Facebook, Twitter, Youtube etc (Eagle et al . 2013).
The Aura Clinic will use promotional image for newspaper advertisements. The clinic will also advertise itself in fashion magazines using vibrant colors and the advertisements will stimulate the fitness needs of its clients (Fill and Turnbull 2016). A mock-up promotional image is provided.
The financial plan is provided in the template in the excel sheet. As the net profit, closing cash position and balance sheet of the company is on a rising trend in the charts below the business is profitable.
The Aura Clinic will be subjected to potential risk from the competitors. The clinic must be able to analyze the preference and tastes of consumers which change constantly. The technology constantly evolves in every arena of today’s life and the clinic should invest in research and development of technological evolution. The tactics of competitor’s pricing should be analyzed well. The data mining software can be used to analyze consumer’s behavior. The Aura Clinic should be promoted in digital platforms like Facebook and Twitter, (Hartley and Claycomb 2013).
Reference Lists
Black, S., 2013. Practice of public relations. Routledge.
Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA.
Burgess, J., 2015. Are you a trendsetter?. Instyle, (May/Jun 2015), p.132.
Cross, J.C., Belich, T.J. and Rudelius, W., 2015. How marketing managers use market segmentation: An exploratory study. In Proceedings of the 1990 Academy of Marketing Science (AMS) Annual Conference (pp. 531-536). Springer, Cham.
Eagle, L., Dahl, S., Hill, S., Bird, S., Spotswood, F. and Tapp, A., 2013. Social marketing. Pearson Education.
Fill, C. and Turnbull, S.L., 2016. Marketing communications: brands, experiences and participation.
G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Education.
Hartley, R.F. and Claycomb, C., 2013. Marketing mistakes and successes. Wiley.
Lim, T.P., Husain, W. and Zakaria, N., 2013. Recommender system for personalised wellness therapy. International Journal of Advanced Computer Science and Applications, 4(9), pp.54-60.
McKeever, M., 2016. How to write a business plan. Nolo.
McKenzie, D.J., 2015. Identifying and spurring high-growth entrepreneurship: experimental evidence from a business plan competition.
Park, J. and Baek, S., Lg Display Co., Ltd., 2014. Display apparatus. U.S. Patent 8,717,513.
Peck, H., Christopher, M., Clark, M. and Payne, A., 2013. Relationship marketing. Taylor & Francis.
Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small business.
Shen, B. and Bissell, K., 2013. Social media, social me: A content analysis of beauty companies’ use of facebook in marketing and branding. Journal of Promotion Management, 19(5), pp.629-651.
Wiseman, E. 2017. Lights, camera, lipstick: beauty vloggers are changing the face of the make-up industry. [online] the Guardian. Available at: https://theguardian.com/fashion/2014/jul/20/beauty-bloggers-changing-makeup-industry [Accessed 21 Aug. 2017].
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