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Business Management Question
- What are the overall expected outcomes from this research?
- Summarize how you will achieve these outcomes
- What might future research learn from your activity?
Business Management Solution
Problem Space
Wink-bar Pty Ltd is a walk-in eyebrow and eyelash bars in the suburbs of Brisbane. With 30 professionally trained beauticians, they adopt a unique and natural beauty services (WinkBar 2016). They have planned to expand their operations due to competition and declining profit margins in current locations. A feasibility study is proposed to determine the viability of opening a new bar in Indooroopilly. This study will analyze the Wink-bar position against its competitors, availability of skilled professionals, market potential and monetary resources.
Literature Review
Various services offered by the beauty services industry include complex beauty therapies and skin and hair treatments. It employs professional contributing services who are required to possess a wide range of skills and knowledge about beauty therapies offered to clients.
Industry Structure
The industry comprises of small and medium-sized enterprises which are operated by a single owner. Beauty salons operate in a highly competitive scenario and competition is expected to remain high as each beauty salon in a locality competes for the same client (RAPS 2015).
Employees
Beauticians are professionally trained individual who handle beauty treatments for face, pedicure, manicure, hairstyling and hair removal techniques. Most of the beauty salons in Australia employ a maximum of 20 people (Service Skills 2015). The average age of beauticians is estimated to be 31 years. The beauty industry employs a young workforce with 54.6% of employees in the age range of 15 and 34 years when compared to other industries which is 38.9% in the same age range. The work locations of beauticians include private salons, hairdressers and home-based. The increasing growth experienced by the beauty industry has led to stable demand for professionally qualified and certified beauticians (Service Skills 2015).
Industry Trend
The industry is moving from the affluent domain to offering basic consumer service. Its growth indicates the overall increase in the growth of personal services sector. It also shows the consumers’ aspiration to reach work-life balance and the boost in experiential purchasing (Service Skills 2015).
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