sygnet salon and spa business analysis

Sygnet Salon and Spa

Business Analysis

Background• Opened for business in Summer 2008 in Newmarket, Ontario

• Original staff of five, including owner

• Offer various salon services

• Only ‘database’ of information is through Excel

Currently…

• Client base has grown significantly since opening

• Difficulty finding efficient ways to track customers and handle more growth

• No business knowledge

This Place is a Nightmare

Nine Building Blocks for Improvement

1 - Customer Segments

•Female only

•Ages 16+

http://farm1.static.flickr.com/89/231960086_38ba5f38a5.jpg?v=0

2 - Value Propositions

• Online booking appointments

• Building a relationship through data mining and CRM

• Gift Packages and bundled services

http://www.dogsuppliessite.com/images/gift-certificate.jpg

3 - Channels

- Reaching the customers

- What they offer their customers

- Post-purchase support

4 - Customer Relationships

• Acquiring Customers

• Retaining Customers

• Increasing Sales

5 - Revenue Streams

• Recurring Revenue-post purchase support

• Fixed Price

• Leasing the building but own the physical assets

6 - Key Resources

• Required Assets are physical and human capital

• Finances-profiting because of consistent customer base and location

http://www.firstimpressionssalonspa.com/var/be/60415/637172-front-of-salon.jpg

7 - Key Activities

• Currently in the business of problem solving

• Customer relationships are of utmost importance

8 - Key Partnerships

• Supplier relationships need to be maximized via information management

• Better inventory control will increase cost efficiency when ordering

9 - Cost Structure

• Value-driven because of high end luxurious spa

• Cost-driven because purchase supplies in bulk

• Fixed cost for services-promotional offers

Key Findings

• There was virtually no form of customer relationship management

• No online presence

• Poor business expansion strategy

Suggested Strategy

• Implement basic database via PMPw-SQL

• Create comprehensive website which includes appointment booking

• Encourage customer growth via smart selling, package deals, and return customer coupons

Thank you!

Reem Aziz, Etienne Bruchet, Oksana Cpin, and Mandy Flynn

Questions? Comments?