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The financial plan for implementation is the initial owner financing investment of $65k. The projected gross net profit after one year is dependant on research studies from competition in the vicinity. Start up Business plan with projected Owner financed, start-up costs of, $65k. The return on the initial investment expectations is to return in profits within a 12-36 month time span. Although the business plan venture appears sound and worthy, it is necessary to base the analysis on the strengths, weakness, and projected assumptions and research.
As a previous owner of a tanning salon, there are indications where several areas of the project plan require some additional research for re- analysis that provide opportunities and input of some constructive criticism and students ideas for profitability and research to avoid risk and weakness for sustainability in this industry...
Internal Strengths and …show more content…
Tropical Tan did not address or, research this area of risk.
Seasonal –Options A tanning studio commonly experiences more business during the summer months, (June-August). The reason is that people planning family vacations during school breaks to tropical and beach destinations. Vacationers like to have a pre-tan before going on beaches avoiding severe sunburn where fair suntanned skin burns quickly in the tropical sun, resulting in painful sunburn that spoils the vacation. Tropical wants to outsource part time employees and managerial teams during the “busy season”. This may not be the best time to allow outside parties to control issues in the Peak Season. I learned from experience from pregnancy leave, “While the Cat’s away, the mice will play” and the quality of the business diminishes, without proper Leadership controls in place.
Opportunity-Try something new
They may want to consider exploring and implementing the newer technology to enhance the business plan and efficiency. Possibly a Self serve automated code key access card for check in and purchase transactions like hotels and gas stations use for guests entering and exiting their rooms and sales transactions at gas
As a previous owner of a tanning salon, there are indications where several areas of the project plan require some additional research for re- analysis that provide opportunities and input of some constructive criticism and students ideas for profitability and research to avoid risk and weakness for sustainability in this industry...
Internal Strengths and …show more content…
Tropical Tan did not address or, research this area of risk.
Seasonal –Options A tanning studio commonly experiences more business during the summer months, (June-August). The reason is that people planning family vacations during school breaks to tropical and beach destinations. Vacationers like to have a pre-tan before going on beaches avoiding severe sunburn where fair suntanned skin burns quickly in the tropical sun, resulting in painful sunburn that spoils the vacation. Tropical wants to outsource part time employees and managerial teams during the “busy season”. This may not be the best time to allow outside parties to control issues in the Peak Season. I learned from experience from pregnancy leave, “While the Cat’s away, the mice will play” and the quality of the business diminishes, without proper Leadership controls in place.
Opportunity-Try something new
They may want to consider exploring and implementing the newer technology to enhance the business plan and efficiency. Possibly a Self serve automated code key access card for check in and purchase transactions like hotels and gas stations use for guests entering and exiting their rooms and sales transactions at gas