Chi Nail Spa Bar
I. Executive SummaryChi Nail Spa Bar is a full service nail salon that intends to open in Downtown, Atlanta which is an outlaying community of the greater Atlanta, Ga. Chi is a sole proprietorship operated by myself, Ericka Miller who is very passionate about nail art, high fashion and glam. This will be my first business enterprise and my major employment following holding an assistant manager position at Southern Index Inc in Gwinnett, GA.
I am currently negotiating a lease for a 1500 square foot facilities at XXX Downtown Atlanta, Ga were I hope to remain for years to come. I have my own capital, $50,000 thousand for any expenses for my venture. Additionally, I am seeking a small business loan in the amount of $50,000 thousand to be paid back within a period of five years.II.
Company SummaryEveryone is always too busy from work or taking care of their families that they don’t have time to stop, relax and pamper themselves. Chi Nail Spa Bar is bringing relaxation and elegance to a new level, with my team help we plan to create a atmosphere for all different walks of people to come to relax, enjoy a wide variety of elegant music and a glass of wine from our outstanding winery; all while getting pampered using the last techniques and the hottest nail art. This all can be done between 15 to 45 minutes, depending on how much time the customer has to spare.The 15 minute manicure is a manicure that’s done in 15 minutes, a full cleaning with your choice of art, created to serve professional women and men that have little or no time to obtain personal grooming services, while offering packages (Bronze, Silver and Gold) will guarantee the customer less time in the salon, a manicure, pedicure and all of the other features that that package include. Bronze, the $45.
00 package includes an every two week manicure and pedicure served with a glass of wine. Silver, the $60.00 package includes an every two week manicure pedicure and eyelashes served with a glass of wine.Lastly Gold, the $100.
00 package includes a weekly or every two weeks depending on the customer frequency gel manicure, gel pedicure eyelashes and or body waxes served with a glass of wine. Still accepting walk-ins who will pay normal company prices for which ever services they request. With our unique name and elegant place of business we attend to attract middle and high class customers, being located in Downtown, Atlanta where residences are making at least $25,000.00 annually we are sure to do so, we are sure to meet our goal with little competition within a 25 miles radius of our organization.III.
Market AnalysisNail salons offer a variation of options for nail care. This includes acrylics, silk or fiberglass wraps, French manicures, polish, pedicures, etc. Some nail salons are offering one-stop beauty services. In addition to nail services, these one-stop nail salons offer facial treatments, waxing, and skin care. Generally, those working in Nail Salons are called Nail Technicians. In some areas throughout the UK and USA, districts require nail technicians to have formal, state recognized qualifications in order to be able to grant licenses to the salons.
There are approximately 200,000 nails salon is the United States in 2010, upped 23% since 2007. In 2008 salon prices went up 17%, more nail salons opened. In 2009, the number of salons with websites increased by 46%.Facebook marketing has grown by 300% and the top five salons became instantly money makers. In 2010 salon service volume increased by 3.5%, 34% of nail salons added new services this year and 66% of those added gels.
66% of nail techs don’t receive any incentive on real tail sales and yet the industry is still making money. 2011 service income was at $7.7 billion. Services prices upped in every category. This year it was proven that 74% of nail techs own smart phones.
In 2012 the industry is growing stronger with more and more salons opening. Now in 2013 in high demand, nail service is now up to $46.4 billion in revenue. Booth rental rates decline slightly, gel polish continues its service dominance, and these services attract middle and high class people.IV. Organization And ManagementThe innovation Chi Spa Bar concept is the brainchild of Ericka Miller, Kisherra Dalton and Deborah Rolax.
As professionals the three brainstormed opportunities that would make the lives easier for men and women, it wasn’t long before we arrived at the idea of a nail spa bar in downtown, Atlanta. We devised and revised our business plan over coming several speed bumps along the way to realizing our goals. I, Ericka Miller a 21 year old who graduated from B.E. Mays High School where I honored my school by cheering on the sidelines at each game.After high school I attended Bauder College where I was enrolled as a medical student, completing and working a couple jobs in the field I grew to learn that caring for people was my calling but not in that way.
Later I realized that I had a strong passion for nail art and I started by practicing on myself and family members. As I became great at it I knew that it was the way I wanted to help people. Kisherra Dalton has always had the ambition to succeed in everything she does. With a bachelor’s degree in Business /Healthcare Management she has worked hard as a professional coder for physicians and hospitals to make sure that all monies were collected and accounted for.V.
ServiceFrom customers prospective, due to heavy work schedules not to many people have time to get groomed, the people that do like the idea of having a place to go to to get groomed and relax. Most people embrace this service to look and feel good, its art, it bring attraction to nails or feet, also for enhancing products and facials. Nail art is high fashion “all the celebrities are doing it” so a lot of people do it just for status. We plan to meet the customer’s needs by offering affordable manicures and pedicures, a chi atmosphere to help relaxing a little easier.
This operation will open at 9a.m and will close at 9p.m so that we can get all the customers in, my team will be professional and appropriate at all times greeting every client with a smile and a Hello. Being convent to downtown Atlanta the customers are surrounded around numerous shopping centers, coffee shops, and restaurants. Offer the outstanding 15 minute manicure that no salon in Atlanta offer we are sure to gain cliental consistency and happy clients.
Although being a entrepreneur is new to me I have goals on achieving and growing a foundation that will serve my community. As long as the industry is in demand the company will forever grow.