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Week 3 - May 4-8

Monday:

Test Surveys - will your business succeed? Will people want to buy your product or service? Create a survey like the one below with a minumum of 5 questions.

Sample Survey for Regina INK:

1) Do you have a tattoo?

1a) If yes, where did you get it? Were you happy with the artist/service/result?

1b) If not, would you consider getting a tattoo?

2) Would you like to have (or do you already have) a small, medium, or large tattoo?

3) Do you like black and white, or colored tattoos?

4) What are two things that you would look for in a tattoo parlour?

5) Where would you like to see a tattoo parlour that there currently isn't one?

Tuesday: Surveys completed this morning!

What were the results of your survey? In 5 sentences, summarize them (one sentence per question.) Then, your final sentence explains what changes you will make to your business because of your survey. You will copy this final paragraph into your business plan under "Market Research."

Regina INK Survey Results

Our survey results showed that about half of the people we surveyed had tattoos. Those who got their tattoo at Rising Sun were very happy with it, and one person who got their tattoo at Morning Glory was not happy. Of those respondents who did not have a tattoo, half of them said they would get one. Our respondents mostly liked medium tattoos, and did not show a preference for color or black and white tattoos. They said they look for a good artist and cleanliness in a tattoo parlour. Most of the people did not know where a tattoo parlour should go, and a few said that the main hallway outside Mr. Allen's office would be a great place. Based on these responses, we have decided to open a tattoo parlour because of the interest shown. We don't know where it will be, yet, and will research this more.

Competitive Advantage - complete the following on the handout provided to you.

Of Dairy Queen, McDonalds, and Burger King, which do you go to most?

What are the top 3 reasons you go there?

What is unique about each place? What do they have that the others don't have?

What promotions does each of the restaurants regularly offer?

Now that you've thought about these businesses - what will YOUR business offer? What will its competitive advantage be?? Write this in a sentence or two and copy it into your Business Plan under "Competitive Advantage"

Wednesday:

Competitive Advantage -- explain your advantage to the rest of the class -- then enter your information into your Business Plan in Google Documents under "Competitive Advantage."

Thick Threads Hip Hop Clothing Store Tour -- TOMORROW MORNING!

Come up with some questions that you want to ask the owners!

Pricing Reflection

1. How did you set your prices? What did you compare them to? How do you know that you will make money?

2. How many employees will you have? How much will it cost to pay them?

3. What other expenses will you have to pay?

4. What is your expected profit?

Now, present your results to the rest of the class for feedback.

Thursday:

Thick Threads Hip Hop Clothing Store TOUR! Departing Scott Collegiate at 8:30 SHARP!! If you are late, you'll miss the tour!!

Friday:

Customer Demographics

Who is your business targeting? What age group? Age range? Gender? Socio-economic status?

The art of tattoos appeal to many people from all walks of life. They are individuals who wish to express themselves in the form of a tattoo. Most customers want to get something meaningful tattooed on their body to commemorate a certain part of their life or to showcase something that they value. However, for some customers, it is an impulse decision and we would like to avoid these customers because they tend to regret their decision and no longer value their experience. Our potential customers are male or female, 18+ (or younger with parental permission). The tattoo industry is unique because it does not only appeal to individuals of a certain race, lifestyle or behavior; anyone can get a tattoo at any age and from any background. Most customers value a safe, hygienic experience with personable, skilled staff.

Write this up in a paragraph, and then complete the "Business Expense Handout"

Once this is done, check with Mr. Beingessner. If your work is satisfatory, you can get a computer to type up your Customer Demographics!

 

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Competitive Advantage.doc29 KB