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Tattoo Parlor Business Plan

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by

Bogdan Maksymenko

on 7 February 2016

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Transcript of Tattoo Parlor Business Plan

Thank You!
Company Summary
Lilith Symphony, will be located in Chicago, IL within a centrally-located major route strip mall. Our team will run the business idea. For start, we have an experienced tattoo artist and person who has retail administrative experience. A second tattoo artist will be hired to expand the options for customers and to make better use of the company's resources. The business will provide colour tattoos from both original designs by the artists and basic public domain designs. Original designs, which are considered the best by the artists and the customers, will be printed onto t-shirts, posters, and other resale items and sold through the shop as well with Lilith Symphony branding and signatures by the artists. Customers will include both those new to tattoos and tattoo collectors, all predominantly between the ages of 18 and 40.
Performed by:
Bogdan Maksymenko
Ilia Iliev
Christopher Zhelyazkov

Tattoo Parlor Business Plan
Products and Services
Lilith Symphony will provide the following services to customers:

• Introductory/shop-minimum tattoos
• Basic tattoos (~1 hour session)
• Full sessions (2-6 hour sessions)
• Body piercing
• Mehndi


Financial Plan
Start-up Summary
The financial plan for Lilith Symphony is to raise 27,000 $ from a combination of personal savings, a long-term loan, and short-term borrowing to launch the business. The business will achieve cash flow and profit break-even in the seventh month of operation and net profit will be achieved in the first year, allowing for dividends to be paid to the owners beyond their salaries starting in year two.
Start-up Funding
Cash Flow
Strategy and Implementation Summary
• Offering competitively-priced introductory tattoos to encourage "tattoo newbies"
• Retaining high-quality artists to retain tattoo collectors
• Offering a wide range of custom designs in different styles to broaden appeal
• Additional services as short-time tattoo and piercing
• Selling additional products with designs by the tattoo artists to build an additional revenue stream

• Print 1,000 flyers advertising
• Create a basic website with all information
• The principals and additional artist handing out business cards and wearing Lilith Symphony shirts to promote the opening
• Running ads in the local papers about the grand opening
• The artists calling their rolodexes of previous clients
• Continuing to hand out business cards
• Printing flyers periodically promoting discounts and new products and posting them in the area
• Maintaining the website with new products and art

Competitive Edge
Lilith Symphony will create a competitive edge through the cultivation and retention of its most valuable assets - its artists. Both of artists will be well rewarded for their work through open-ended shares in revenues generated through their designed products and commissions on tattoos. By not having to worry about overhead, rent, establishing a brand, purchasing basic supplies, or other business concerns, this will be a perfect situation for a tattoo artist who wants to focus on his or her art, establish job security and establish a client base with limited risk.
Marketing Strategy
Market Analysis Summary
Some other statistics about the market:
• The National Geographic News stated in April 2000 that 15% of all Americans were tattooed (or approximately 40 million people)
• Esquire Magazine estimated in March 2002 that 1 in 8 Americans (12%) was tattooed.
• A 2003 Harris Poll found that 16% of all adults have at least one tattoo.

• The highest incidence of tattoos was found among the gay, lesbian and bisexual population (31%) and among Americans ages 25 to 29 years (36%) and 30 to 39 years (28%). Regionally, people living in the West (20%) are more likely to have tattoos.
• Democrats are more likely to have tattoos (18%) than Republicans (14%) and Independents (12%) while nearly equal percentages of males (16%) and females (15%) have tattoos.
• The market is segmented into:
• Tattoo newbies or dabblers (those who get one tattoo)
• Tattoo collectors (those who get numerous tattoos)

Net Present Value
Equivalent Annual Annuity
Service Business Analysis
In the Chicago, Illinois, Lilith Symphony will compete with:
Target Tattoo
Rat-a-tat-tat
Competition and Buying Patterns
• The body of work of the artist
• Comfort talking to the artist
• Price
References

Anon., 2000. http://travel.nationalgeographic.com
Anon., 2002. http://www.esquire.com/
Anon., 2003. http://www.harrispollonline.com/
Anon., 2011. http://www.tattooinventory.com/
Anon., 2014. http://www.bluehost.com/
Anon., 2014. http://www.ipage.com/ipage/index.html?source=ELI&PPCPN=
Anon., 2014. http://www.lightinthebox.com/c/tattoos-body-art_2174/All-3litb_from=paid_adwords_search&adword_mt=e&adword_ct=17802302722&adword_kw=tattoo+equipment&adword_pos=1t1&adword_pl=&adword_net=g&adword_tar=&gclid=CKTeid7w_7wCFQoYwwod4h8Avg&currency=USD
Anon., http://www.wikihow.com/Set-Up-a-Tattoo-Shop
Anon., http://tattoonews.newsvine.com/
Anon., http://listverse.com/2013/07/23/10-fascinating-facts-about-tattoos/
Anon.,http://smallbusiness.chron.com/start-tattoo-shop-12937.html



Anon., 2000. http://travel.nationalgeographic.com/
Anon., 2002. http://www.esquire.com/.
Anon., 2003. http://www.harrispollonline.com/.
Full transcript