Business analysis & growth strategy for At Heart Beauty Concepts

Date
2018-04
Authors
Fosu-Whyte, Keziah
Journal Title
Journal ISSN
Volume Title
Publisher
Ashesi University
Abstract
At Heart Beauty Care Concepts is a hair and beauty care salon located in Santa Maria, Accra. A sole proprietorship business, the salon offers services of hairdressing, interior decoration, makeup, pedicure, and manicure, among others. The vision of the business is to be a beauty hub that showcases the excellence of hair and beauty care and thrives on the mission of delivering such excellent services and producing professionals to do the same. Assessing the need in the business took the form of structured interviews which involved the owner, the employees, as well as existing and prospective clients. The assessment revealed that the business had seen very slow growth for about ten years which had been attributed to the location of the business and the lack of capital for expansion. The findings from primary research revealed somewhat otherwise in that customers sometimes considered location, the efficiency of the business could make up for a disadvantaged location. Also, secondary research which featured models such as the Five Stages of Small Business Growth proposed alternatives to the absence of ready cash for the growth of the business. The proposed solution is a three-phase plan which was targeted at growing the business from its current state to its desired position with key considerations given to management factors such as management style, major strategy and extent of formal systems in the business. The entirety of the solution can be implemented in 18 months and should leave At Heart as a sole proprietorship business with enough revenue to begin its beauty academy while making use of employees and a more decentralized system in handling the significant demand that the growth of the business will bring.
Description
Applied Project submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, April 2018
Keywords
hair salon, Ghana, beauty salon, hairdressing, interior decoration, pedicure, manicure, small business growth
Citation