SoulSpace’s goal is to be Raleigh’s best spa/salon. They are able to quickly increase market share by offering a unique blend of products and services. SoulSpace will provide customers with a relaxing, rejuvenating atmosphere where all of their mind and body needs can be met. The business will be a partnership, with Steve Long and Debby Long owning equal parts of it. Linda Hill-Chinn will also own a portion.
Products and Services
SoulSpace offers a variety of products and services for mind and body healing. The salon aspect of the business will provide both males and females with any type of hair styling services. The spa business offers holistic body work and massage services. All of this is done in a serene and relaxing setting.
SoulSpace selected Raleigh, NC as their home for the venture. Raleigh has been repeatedly voted the best city to live in and work for the USA over the past few years. It frequently appears on the top five and ten list of Forbes, Money and Inc. magazines. Raleigh has one of the most educated populations that loosely correlates to earning potential, or at least indicates a higher average household income. In addition, downtown Raleigh has been remodeled recently and is a hot spot for new businesses.
Competitive Edge
SoulSpace’s competitive edge is their unique combination of services, location, and customer-centric focus. Both the amazing services and location have been described previously. SoulSpace was founded with the goal of providing reliable, quality services. SoulSpace’s innovative training program is thorough and comprehensive. It properly trains employees to provide unsurpassed customer service. SoulSpace customers will feel satisfied that they received a service that was beyond their expectations and better than any other. This customer-centric business model goes beyond mere rhetoric. It also includes financial incentives that allow employees to offer exceptional levels of service. SoulSpace can achieve its ambitious goal of 90% return customers by using this system.
Financials
SoulSpace forecasts significant sales revenues for year two. SoulSpace expects to reach profitability in year two and earn a healthy profit prior to taxes. SoulSpace will start their fundraising efforts to acquire LLC status. This status would replace the existing partnership business structure.
SoulSpace is an innovative business that offers a unique combination of highly sought-after services that is not offered by any direct competitors. SoulSpace will provide a calm and serene environment for various mind and body rejuvenation treatments for the growing Raleigh population.
1.1 Objectives
Below are the objectives of SoulSpace:
- End of second year, substantial sales revenue
- Profit before tax by the end of the 2nd year.
- Clientele must have a return rate of at least 90% by the end for the first year.
- Be a recognized community destination by the end of your first year.
1.2 Mission
SoulSpace will provide a comfortable, yet stimulating atmosphere where customers can relax both their body, mind, and soul. They will use a wide variety of holistic techniques to help them reconnect with their true purpose in life. SoulSpace is a reliable place where people can escape from the stresses of life and rejuvenate themselves, their souls, as well as their lives.
Success: Keys to Success
- Quality and skilled employees familiar with energy work and oriented to a soothing spiritual disposition.
- It is important to build trust among the community and ensure that each customer’s needs can be met at every visit.
- Accessible from everywhere.
- Advertising is effective.