I'm writing a detailed business plan and looking for some input into possible answers. Here are the demographics for the area I'm starting my business: 2003 retail sales - 324mil, 2004 retail sales - 363mil. 12% Growth. Avg household income $63,500. Traffic count in front of location 30,000 cars per day. Traffic count of highway beside store 60,000 per day. Location is in retail outlet in Home Depot parking lot, Walmart, Lowes and Super Target are within 1/8th mile on same road. Major apt complex going in behind Home Depot. Lease will be apx $18.00/sq ft for the year. 1,700 square foot facility. I'm considering 8-12 beds, at least 4 levels of tanning, 3 lotion suppliers with lotion also available by the cup for $3.75 - $5.00 depending on brand (buying gallons and using the ketchup cups). Not sure on whether to build one or two restrooms (for the ladies convenience). I do also know we'll have mirrors, chairs, clothes hangers and spray deodorant avail in each room. For the build out of the new facility, I plan on using stained concrete (looks good and easy maintenance) I'm planning on selling EFT's and session pricing. Closest salon in 1 mile away and is as much high end salon (Facials, dermabrasion etc as tanning) I'm also planning on leasing my
equipment. My questions are: 1)Pricing Structure - competitive sure, but where to start. 2) % of revenues to figure that are lotion/accessory based. 3) Advertising budget? How much and when should it be spent? 4) Modular walls or build out? 5) Bed manufacturer... leaning towards Puretan... any suggestions, pros, cons or rants? 6) Product mix of beds?
I've been reading everything I can get my hands on for the past 2 months, but I'm a sponge, gimme more gimme more...lol. Any other tips or recommendations would be greatly appreciated! Thanks, y'all seem to be a great group.