Our value proposition is that we will bring a unique mode of relaxation and fulfillment to our community. When people are relaxed, comfortable, and happy, they have the ability to work harder, concentrate better, feel physically, emotionally, and mentally balanced, and give that happiness back into their homes, workplaces, and community. Simply put, our value proposition is that we help our community become a better place to live and work.
Our competitive edge is a combination of our unique services, outstanding location, and our interaction with customers. By providing our customers a holistic and integrative spa and salon, we build relationships of trust and satisfaction. Our customers will come to depend on our unique services and fulfilling environment.
Our marketing strategy is the key to our success:
Our promotional strategy will be two-fold: first phase promotion will deal with advertising before, during, and six months following our opening; the second phase advertising will deal with all long-term advertising.
1. FIRST PHASE PROMOTIONS
We will utilize local newspaper, local social and health magazines, local radio, local television, mail-outs to all households within the immediate five mile radius, and mail-outs to all local business within a five-mile radius.
We will have a comprehensive website.
We will place our brochures within the offices of our medical referral clients.
2. SECOND PHASE PROMOTIONS
We will continue to place ads in the local social and health magazines year around. Mail-outs will be done again within a five-mile radius one year later after opening, then again only every three to five years. Radio and television ads will be done only when we have sale promotions during the most stressful times of the year for the Christmas season, and graduation; television ads are not certain, we will evaluate their effectiveness before further implementation.
We will continue to have a comprehensive website. After the first six months, and certainly after the first year, we will evaluate the viability of having target clients advertise on our site, and conversely, we will evaluate viability of advertising on our target clients websites (if applicable).
This type of advertising will be implemented once we have grown beyond our break-even point. We will also form advertising alliances with any business with whom we share common business goals. We will also implement mutual perks with our business and restaurant neighbors which will aid in local visibility. Advertising promotions with certain restaurants will also be considered.
Owner Steve Long will be responsible for marketing SoulSpace through the advertising channels. The general manager will be responsible for assisting with the implementation of alliance advertising partnerships. Our advertising budget is $10,000 for the first year. Advertising will begin one week prior to opening.
We will automatically position ourselves as one of the top spa-salons in the greater Raleigh area. Considering that none of the other competitors will offer the range of services we will, or that their staffs will be trained like ours, and that there are not any spa-salons of our type in our target locations, we will be able to provide services to a portion of Raleigh populace not currently being tapped.
Our pricing strategy will be similar to that of our competitors. We will not charge over, nor substantially under, standard prices for our services. We will be paying our employees a higher straight percentage of their total individual customer sales than our competitors. This will allow us to hire the best employees, and have a built-in motivational factor that will keep them working hard and happily.
The important elements of the Sales Forecast are shown in the chart and table below. Initial sales forecasts indicate vigorous first year sales, almost doubling by the end of second year, then leveling out somewhat by the end of third year. These figures are based only on revenue from minimum average estimates from salon stylings and spa massages only, with sales cost reflective of the 60% commission earnings to each stylist/therapist.
We will form alliances with our referral practitioners, local restaurants, offices, and businesses who will be strategically beneficial for generating new customers; we will also form alliances with local certified massage schools and hair styling schools.
The following table lists important store milestones, with dates, implementation duty, and budgets for each. The milestone schedule emphasizes the timeliness for implementation per the sales and marketing targets listed in detail in the previous topics.