Perspective 1 – Investor:
Q: As an investor of your company, how much capital are you looking for me to supply?
A: As a homebased business, I am not looking for a large investment. I will be looking for $2,500.
Q: How long do you think it will take to start to earn a profit?
A: To kick start my business, I will need to invest a minimum of $5,000, I expect to pay start earning a profit within the first 6 months.
Q: What measures are in place so that we can guarantee this business will be successful?
A: I have established a strong and loyal clientele base. Most of my clients come to me for both services and return every 2-3 weeks for their refill appointments.
Q: How big is the demand for this service?
A: Right now, it takes a minimum of 2-3 weeks to get an initial appointment with anyone in town, this indicates other technicians are busy and there is a need for more.
Q: Who would be your largest competitor?
A: A local spa and two other home-based businesses are currently my largest competitors.
Q: Is your business only female centric?
A: No! I accept anyone who would like to book an appointment. I strive to make everyone as comfortable as I can at each appointment.
Q: What brand of beauty products are you going to use?
A: I will be primarily be using Magic Gel, Ugly Duckling and Enlightened Lashes. Two out of three of these companies are Canadian.
Q: How well do you know you competitors?
A: I have personal friendships with two of the other home-based businesses in town, we share tips and tricks and are willing to share/resell products to each other if they are not the right fit for us.
Q: How are you going to spend investor’s money?
A: Most of the investment will be spent on tools such as new e-files, dust collectors, tweezers and better lighting. All of it will be spent on non-disposable items.
- Q: Are you planning to expand your business in the future?
- A: Yes! Northern Beauty will expand into a commercial space in year 4. This new location will be located in Kitimat and will have 4+ technicians.
- Q: As a business that can potentially dominate the beauty market in Kitimat, is there a potential to open jobs once the operations have reached a relatively huge service demand? If so, how many employees will be needed?
- A: Right now, the first year of revenue is based off working 3-days a week with 3 clients a day. If the demand were to expand more than expected in 2022, Northern Beauty would not hire any employees, more time slots would be opened to accommodate the growing interest as needed.
- Q: Are you planning hire employees with specializations in their craft?
- A: In the future when Northern Beauty has expanded into a commercial location, technicians will be hired based on their specialization only. This is to ensure each service is being provided by someone who has taken the time and effort to practice their work and will provide a high-quality service with every client that comes to the salon.
- Q: How much are you expecting from an investor as an initial investment to launch the business?
- A: The entire cost to start this business will be around $5,000, we are looking for someone interested in investing around $2,500.
- Q: If an investor was prepared to give you $10,000 would your business be ready to be and running to full capacity within 2 months. Would you hire another staff member right away if you had the funding?
- A: Northern Beauty is a home-based business, unfortunately even if we did have more funding, there would not be enough business or space to hire another person.
- Q: What differentiates you from other beauty stores?
- A: Northern Beauty wants to create an experience rather than just your average appointment. At the start of each appointment, you will be offered a hot or cold beverage. Next we’ll go over if your options, you can opt for a silent appointment, go over your music preference and then what you’re expecting from the appointment. We want to be the salon that clients know they’ll have a relaxing and quiet appointment.
- Q: How many competitors do you have in Kitimat?
- A: Right now there’s about 2-3 well-established home salons.
- Q: What will be your most used method of getting the word out about your company?
- A: Social Media will play the largest role in advertising, mostly on Instagram and Facebook.
- Q: What effect do you think LNG has on your company? Positive or Negative?
- A: LNG definitely has a positive effect on our company, this project is introducing many new residents to the area, giving every small business their support.
Perspective 2 – Customer:
Q: Will you ever come to Terrace to offer your services?
A: Due to the high volume of products that would be necessary for each service, travelling to another city would be difficult. I do welcome potential clients from Terrace to travel to Kitimat if they would like to book an appointment with me.
Q: What are your hours of operation?
A: Tuesday – Friday from 10 am – 7pm Saturday from 9 am – 5 pm
Q: How can I book my appointment?
A: All appointments can be made via Facebook messenger, Instagram, or my online booking service (Vagaro)
Q: What happens if I am not happy with the service provided?
A: Preventative measures are put in place to avoid unsatisfied clients. A consultation occurs at the beginning of each appointment and a brief explanation is needed upon booking. If this still does not work, a 10% discount may be provided and I will do my best to fix any issues at the time of the appointment.
Q: What are the ingredients in the beauty products?
A: I look for ethically produced products that are not tested on animals. Magic gel also brands itself on being hypoallergenic as people can become allergic to gel overtime.
Q: Does your service vary by skin type?
A: If your skin type is more on the sensitive side, I would not recommend receiving these types of services. An alternative method may be suggested at the time of consultation.
Q: How professional or experienced is your staff?
A: I have been working in customer service for 8 years and certified in nails and eyelashes for three years.
Q: Can we book an appointment online?
A: Yes! You can visit our Vagaro website to book your preferred service once we launch our account!
Q: What is the return or touch up policy if we are not happy? How will you address customer dissatisfaction in an event that it arises?
A: Northern Beauty does not issue refunds as there is a very thorough consultation that takes place before each appointment to avoid situations like these. We will constantly check in with you to ensure you don’t have any issues. If there is an issue (i.e. one broken nail within 1-3 days after your appointment), it will be fixed free of charge!
Q: Do you offer gift certificates?
A: Northern Beauty will offer gift certificates at certain points of the year, like around Christmas and Valentine’s Day.
Q: Do you have children’s discounts?
A: Yes! If you would like to treat your child to a manicure, they will be available for $15 + tax.
Q: Can you offer your services at my house?
A: Unfortunately there is too much product that is required for each appointment that makes travelling to clients houses difficult. For now, Northern Beauty will remain in one location.
Q: How will you encourage customers to repurchase or return or your services? Are there discounts or programs offered for returning customers?
A: Each client will receive a stamp card at their initial appointment, after 10 appointments, the next one will be 15% off.
Q: Given the fact that the services offered are high maintenance in nature, returning customers are inevitable, how will you guarantee customer satisfaction in every session?
A: We encourage all our clients to have an honest opinion about the service they are receiving, if they notice there’s something different during the appointment, let us know! We want to make each client feel comfortable about the money they are spending on their personal care.
Q: Do customers have to set an appointment for every service to be accommodated?
A: Yes, as we are operating out of a personal residence, walk-in appointments will not be taken under any circumstances.