business plan Essay example

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FOUNDATION DEGREE IN BUSINESS MANAGEMENT

Total Tan

Business Plan

4/25/2014

Total Tan is an independent company that designs innovative products to make the self fake tanning process as easy as possible. It is made up of a group of company of directors that between them have designed, financed and set up the total tan business model to effectively produce, market and sell self tanning applicator products.

EXECUTIVE SUMMARY
In the UK 41% of women use fake tanning products resulting in sales of £35m a year. This boom in the market has come from people's perceptions that they look healthier with a tan which is fuelled by celebrities and their ever glowing skin.
Fake tan is usually applied with plastic gloves or more commonly used, a mitt. This mitt provides easy and even coverage all over the body, but when it comes to the back there is a section at the top of the back that cannot be reached with ease or, some people, at all. This causes a problem as a person wearing something low cut on the back will have a large square that is not tanned by the fake tanning products.
Total Tan is an independent company that designs innovative products to make the self fake tanning process as easy as possible. It is made up of a group of company of directors that between them have designed, financed and set up the total tan business model to effectively produce, market and sell self tanning applicator products.
The Total Tan mitt solves this by enabling the customer to extend their reach and evenly apply the tanning products to the entire body. By creating and manufacturing a self tanning mit with an extendable handle.
Currently there is no main stream competition that can be easily purchased. Various mitts in different sizes are sold on the high street but none of these have any sort of handle
Our target market for this product is females age 20-25 due to this being the most popular gender and age range as found in our initial research into self tanning.
The product will be priced at £14 per unit with 22% a unit being profit, this is a affordable price for our target market. We estimate to sell 500 mitts giving us a revenue of £7000 per month.

Total Tan will distribute its products via Royal Mail on monthly distribution contract from a rented office space. Where it will sell its products through local high street beauty retailers.
The owners of Total Tan will exit this enterprise once the idea has become successful enough to make a substantial amount of profit through the sale of the idea to a larger company. It is the owners’ goal to seek potential companies, such as other well-known self-tanning businesses, to acquire the business idea with the hope of a successful sale.
OBJECTIVES
• Set goals and first year plan.
• Market product before launch date, making customers aware of our product and to help overcome the challenge of tanning your own back.
• To be reasonability priced - affordable to target market.
• To be easily accessible to purchase.
• The product itself to be high quality to ensure return custom.
• To launch the product locally .
• To be easily accessible to purchase.
• To be reasonability priced - affordable to target market.
• Establish customer base.
• To make a profit within 3 months.
• Increase sales with advertising and product improvement/development.
• To sell on products to a self tanning brand.

MISSION
To become the leading specialist retailer in self tanning accessories.

KEY TO SUCCESS
• The product itself to be high quality to ensure return custom.
• Using the correct marketing tools to effective target the market female 20-25s.
• Detailed industry analysis to predict demand.
• Source a bank loan or a contract with the suppliers to get raw materials required to make the products.
• Growth to be steady and slow.
• Clear exit strategy. CONTENTS
Executive Summary 2
Objectives 3
Mission 3
Key to Success 3
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