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Feasibility Study

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by

Alyssa Dalit

on 7 March 2013

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Transcript of Feasibility Study

PARTS OF FEASIBILITY I. Business Description II. Market Feasibility III. Technical Feasibility IV. Financial Feasibility V. Organizational Feasibility VI. Corporate Social Responsiblities 1.1 Business Name: Hair Tech We selected the “Hair-Tech” for our business name because we will be focusing on hair grooming with something different. What makes our business different is that we will be using some of the latest technology to attract customers, especially teenagers. Nowadays, people are in to making or getting things done easily, so we decided to use the latest technology in the grooming service and at the same time in the entertainment. 1.2 Mission and Vision MISSION:
•To give them a satisfying service that exceeds customers’ expectations at an affordable price.
•We will treat our customers well and create value for them.
•To achieve a profitable service.
•To assure that our customers will receive professional, friendly and courteous service from our staff.
•To contribute to the community we serve.
Vision:
•Our vision is about making our customers very satisfied on the service/services we gave and make them happy with their new looking.
•Be the best in terms of consumer value, customer service, and employees’ skills. 1.3 Products to offer Products to sell/services to offer:
- What are the services that you are going to offer?
~ Haircut ~ Hair perming
~ Over all massage ~ Hair/body spa
~ Hair and makeup ~ Manicure and pedicure
~ Hair rebonding and Hair relaxing ~ Hot oil


- Description of the product:
• Our crews are friendly and very professional.
• We offer hairstyling, for different occasions.
• We offer make-up for different occasions.
• We offer manicure and pedicure with nail art -Describe the uses of the product/ benefits one can get form patronizing.
•Our services are with entertainment
•Our services are in affordable price
•We guarantee your satisfaction

-How the product is similar or different from the existing competitors are selling:
•Our services are different because we use Android tablets for entertaining customers, instead of giving them magazines.
•Our crews are willing to sing and dance just to entertain the customers 1.4 Business Logo 1.5 SWOT Analysis
STRENGTHS

We have enough capital to start up a small business

We are good in sales talk

We know something about business management because of our TLE class

We have enough resources

We have are skillful
WEAKNESSES

Lack of good ideas

We are lazy

We are not good in English language.

Lack of experiences

Lack of creativity
OPPORTUNITIES

Others were lack of money for their capital

We are close to schools

Few similar stores our chosen place.

Use are close to subdivisions

We have good quality
THREATS

No one will appreciate

Our capital will not grow

We may get bankrupt

We may not attract customers

We may not find serious customers 2.1 Description of Industry 2.2 Demographic Characteristics Since our business venture is located beside TV5 Quirino Highway, Novaliches, Quezon City, the following are our potential customers:

•Jeepney Drivers
•Residents
•Students
•Passers-by 2.5 Status of Competition As we rounded the location where we will put up our business, we observed that there is no kind of parlor the same with ours. Even though there are some parlors in the area, we assure that Hair-Tech salon will be on the top.
The results of our survey shows that people in our target area prefer a salon with something different that's why we push through with a salon with a free access on an android tablet. It gave us guts that people in the area will choose our salon since it has an entertainment. 2.6 Sales Projections SERVICES


Haircut

Overall massage

Hair and Makeup

Hair Rebond and Hair Relax

Hair Perming

Hair/Body spa

Manicure and Pedicure AMOUNT/service

P 50

P 300

P 500

Rebond = P 999
Relax = P 499

P 499

Hair spa = P 150
Body spa = P 350



P 100

NO. OF CUSTOMERS/day

10

3

3


3

2


5


8 SALES

P 500

P 900

P 1, 500


P 2, 497

P 998

P 1, 150


P 800 Total Sales per day = P 8, 345
Total Sales per mo = P 250, 350 3.1 Delivery of the Product

In our new established business, we give our customers a very satisfying service. Customers may avail our service from 10:00 in the morning until 10:00 in the evening.
If our valued customers do not have time to come in our parlor, we can give them a home service. We have a very good deal with our customers. We also offer services for special occasions. For example, there will be a wedding and the bride and groom wants their wedding entourage to look gorgeous, we can give them a hair and make-up.
We also challenge ourselves to give them the best service. Our deal is if they were not satisfied with the services we gave, we can give them another make over for half the price. 3.2 Location



• College of St. John of Beverley
• Quirino Highway
• San Francisco
• PTT 3.3 Floor Plan 3.4 Trafficking 3.5 Machines, Equipments and Materials Needed

Machines & Equipments Quantity Unit Price Total Price
Android tablet 3 P3, 500 P 10, 500
Air conditioner 1 P 8, 000 P 8, 000
Blower 2 P 1, 000 P 2, 000
Hair iron & curler 2 P 1, 000 P 2, 000
Hot oil machine 1 P 7, 000 P 7, 000




Total Amount = P 27, 500 Furniture & Fixtures Quantity Unit Price Total Price

Bowl 1 P 2, 500 P 2, 500
Hydraulic chair 4 P 4, 500 P 18, 000
Massage bed 2 P 4, 000 P 8, 000
Mirror 4 P 3, 000 P 12, 000
Shampoo bed with bowl 2 P 7, 500 P 15, 000




Total Amount = P 55, 500 Materials &Supplies Quantity Unit Price Total Price

Combing set 1 P 150 P 150
Body lotion 500ml P 500 P 500
Foot lotion 500ml P 350 P 350
Hair conditioner 1 gal/3500mlP 320 P 320
Hair spa 1 gal/3500ml P 500 P 500
Hair wash shampoo 1 gal/3500ml P 320 P 320
Hot oil 1 gal/3500ml P 450 P 450
Manicure set 1 P 750 P 750
Makeup set 1 P 1, 500 P 1, 500
Scissors 4 P 120 P 480
Talcum powder 500ml P 70 P 70




Total Amount = P 5, 390

Total Expenses = P 88, 390 3.6 Manpower Requirement

NO. OF PERSONS POSITION SALARY QUALIFICATIONS
1 Cashier P 2, 000/mo - college graduate
- Trustworthy


2 Senior P 3, 000/mo - professional


3 Junior P 2, 500/mo - amateur


1 Janitor/Janitress P 1, 5000/mo - hardworking




Total Salary = P 17, 000/mo 3.7 Methods 3.8 Utilities

A. Electricity = Php. 5,000/month
- aircon
- ligths
- hot oil machine

B. Water = Php. 2, 500/month

C. Telephone = Php. 999/month



Total = Php. 8,499/month 3.9 Waste Disposal

Since our business deals with hair make over or haircut, we will be producing a large amount of hair wastes. So we decided to place three trashcans on our salon. The two trashcans will be placed outside our salon for biodegradable and non-biodegradable wastes. The other trashcan will be placed inside our salon for the disposal of the hair wastes.

We will make wigs, hair extensions, false eyelashes and false beards from the hair wastes we will collect. With that, we can have an extra income for our salon. 4.1 Start-up Capital
We have added all the equipments we will need to start our business and the total is P 96, 889 or P 100, 000 to be safe in case of other materials to be needed in the future.

Materials, equipments, etc. P 88, 390
Operating Expenses (monthly) P 8, 499

Total P 96, 889 4.2 Sources of Capital
We, the Hair Tech, will pitch in from our savings as our source of capital. Since we need at least P 100, 000 and since we have 7 members in our group, each will contribute P 15, 000. 4.3 Salary
For the salary of our business, we will be giving each of the workers their salary per month – depending on their job specification. Their salary will still increase as time passes by. 5.1 Organizational Flowchart Officer-in-Charge
•Should be at least 21 years old
•Must be graduated 4 years in any management course
•Male or female
•Well groomed
•Has at least 2 years of similar working experience in a beauty parlor Senior
•Should be at least 21 years old
•Professional
•Has at least 2 years of experience in a beauty parlor
•Male of female Junior
•Should be at least 18 years old
•Amateur
•Has at least 1 year of experience in a beauty parlor
•Male or female Janitor
•Should be at least 18 years old
•Hardworking
•Male or female 5.2 Job Descriptions and Requirements QUALIFICATIONS Gaius Daniel M. Adolfo
Officer-in-Charge Jeannie Nicole P. Banta
Senior Alyssa Joy P. Dalit
Senior Audris Maude C. Bernardo
Junior Krizelda C. Satairapan
Junior Geri Andrae B. Galvan
Junior Nicholas Andrew G. Almonte
Receptionist Part 6
Corporate Social Responsibilities
To customers
•Satisfaction
•Relaxation
•Good service
•Grooming

To community
•Relaxation
•Affordable
•Exceptional

To government
•Business tax
•Able to collect funds Conclusion:
Hair Tech is a ground-breaking concept that targets a new, growing market. We believe that the market will respond, and grow quickly in the next two years. Our goals are to give our customers a remarkable service that they will always find. After the salon opens, we will keep a secure eye on sales and profit. Executive Summary

The name of our proposed business is Hair Tech salon. We combined the word “hair” with “technology” and come up to the name Hair Tech. We chose this kind of business because we all know that Filipinos are very conscious in terms of grooming.
The location we chose to establish our business is beside the TV5 Quirino Highway, Novaliches, Quezon City because there were no salons like ours was established in that area.
There are two objectives of our study: first, is to determine the profitability of high tech salon. Second, is to determine its potential penetration to the market. Acknowledgement

This feasibility study wouldn’t be possible without the help of people who were with us through it all.
First of all, we would like to thank our God Almighty, for giving us wisdom to finish this feasibility study. He gave us strength when we feel like giving up. He gave us patience when we feel like this is not possible. Thanks be to God for guiding us to this accomplishment.
To our parents, thank you for allowing us to participate in this project.
To the people whom we got our surveys from, this feasibility study won’t be finished without you.
And, to Mdme.Luisa Guarte who supported and guided us from rough draft to success.
TO GOD BE THE GLORY! Floor Plan Location Trafficking A salon industry deal with personal growing refers to the salon service industry. The salon service will always remain in high demand because it is a necessity.
“Salon” generally refers to the type of business that gives whatever style you want. During a relatively brief period of time, the salon industry has helped to transform economy, employment and popular hairstyles. The whole experience of going to a salon has become habitual.
Salon offers different services for your hair, face, nails, hands, feet or whole body in an affordable price. It gives you more self confidence because it transform your physical look into a new you.
Attracting huge customers to salon requires more than just an affordable price, though important, an affordable price is only a part of a salon experience. Equally important in believe to be the way the customers be satisfied in the service. This physical and emotional response is a result of the atmosphere, the total environment which customers are exposed. The salon must take care of the following to please its customers. This includes checking the cleanliness of the place, standard of the services and the security in the area. HAIRCUT
Shampoo HAIRCUT
Blower HAIRCUT
Cutting OVERALL MASSAGE
Lotion OVERALL MASSAGE
Lotion HAIR & MAKEUP
Fixing of hair HAIR & MAKEUP
Makeup HAIR & MAKEUP
Makeup HAIR REBONDING/RELAXING
Shampoo HAIR REBONDING/RELAXING
Blower HAIR REBONDING/RELAXING
Applying of solution HAIR REBONDING/ RELAXING
Soak HAIR REBONDING/ RELAXING
Shampoo HAIR REBONDING/ RELAXING
Ironing HAIR PERMING
Shampoo HAIR PERMING
Blower HAIR PERMING
Perming HAIR PERMING
Soak HAIR PERMING
Shampoo HAIR PERMING
Blower HAIR SPA
Shampoo HAIR SPA
Spa HAIR SPA
Blower MANICURE/ PEDICURE
Cleaning of nails MANICURE/ PEDICURE
Cutting of nails MANICURE/ PEDICURE
Nail Polish
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