SoulSpace aims to be the premier spa/salon in the Raleigh, NC area. They will quickly grow market share through a unique mix of services and products. SoulSpace offers customers a relaxing and rejuvenating environment that can cater to all of their needs. The business will be run as a partnership by Debby Long and Steve Long. Equal parts of the operation will belong to Linda Hill-Chinn and Debby Long.

Products and Services

SoulSpace offers a wide range mind and body wellness products and services. The salon aspect of the business will provide both males and females with any type of hair styling services. The spa business offers holistic body work and massage services. All of this is done in a serene and relaxing setting.

SoulSpace has selected Raleigh, NC for their new business venture. Raleigh has been consistently voted best place for work and living in the USA over recent years. It is often on Forbes, Money and Inc.’s top five to ten list. Raleigh has one the highest education rates, which loosely correlates with income potential or at least indicates higher average household earnings. In addition, downtown Raleigh has been remodeled recently and is a hot spot for new businesses.

Competitive Edge

SoulSpace’s competitive edge is their unique combination of services, location, and customer-centric focus. Both the extraordinary services and location has been detailed previously. SoulSpace has always been committed to providing quality and reliable services. SoulSpace has an innovative training program that is extensive in its depth, properly training employees to provide an unprecedented level of customer service. SoulSpace customers will leave with the feeling that their needs have been met beyond what they had expected and better than any competitor. This customer-centric model of business is more than just words. The company has financial incentives so employees can offer extraordinary levels service. SoulSpace will have a high number of returning customers which will allow them to reach their ambitious goal at 90%.

Financials

SoulSpace projects that the company will see substantial growth in sales revenue by year 2. Also by year two the business will reach profitability and have achieved a healthy profit before taxes. SoulSpace will explore options like LLC status when they begin their fundraising efforts. This will replace the current partnership structure.

SoulSpace is a new business offering a variety of services that aren’t currently available from a direct competitor. SoulSpace will offer a serene and relaxing environment for various body and mind rejuvenation services to the growing Raleigh population.

1.1 Objectives

Here are the goals for SoulSpace.

1. Substantial sales revenue by end of second year.
2. Profit before tax by end of second year.
3. A 90% client return rate is possible by the end of the first calendar year.
4. Become established community destination by end of first year.

1.2 Mission

SoulSpace will offer a relaxing, yet stimulating environment in which customers can relax their mind and body. It will also help them reconnect to their true purpose by offering a variety of holistic methods such as massage, body work, energy works, and hair style. SoulSpace is a reliable place where people can escape from the stresses of life and rejuvenate themselves, their souls, as well as their lives.

Success: Keys to Success

1. Highly skilled and qualified employees, who are well-versed in energy work and are attuned to a calm spiritual disposition.
2. Trust is built within the community so that every customer’s needs are met at every visit.
3. It is easily accessible.
4. Effective advertising.