Friday, February 15, 2019

Idea Napkin No. 1 -- 11A

1) As someone who identifies as a creative with an affinity and keenness for communications, I think this is wildly influential over not only who I am, but also my current and future aspirations as well as which of my experiences I place the most value on. In terms of skills besides being a strong communicator with my background in journalism, I also am fascinated with the elements of branding whether it be design, concept, or marketing a business to a target audience through extensive branding, social media and aesthetics. Through my background in journalism, I have explored varying levels and fields of graphic design, which definitely would come in hand in my proposed business idea of an aesthetically driven facial spa, marketed toward the experience value in everything from the services and products offered to the interior and exterior layouts, etc to make the facial-only spa stand out from similar competitors. I think should I really launch this business, it could potentially become a huge part of my life, as most business owners can attest to. I see there being loads of opportunities along with the actual business as I could sell certain products with services, host events, promotions or create other opportunities to customize the experience and potentially increase profit and awareness of the business.

2) I am capitalizing on the unmet need of the majority of women's desire to maintain a skin care regimen with a professional but not have to go through the hoops and scheduling of booking with a full-fledged spa. My facial business would be more of an experience that caters solely to your skin, customizing facials for a speedy, but effective service that promotes the luxury and experience of a spa but does not have the time commitment or hefty price tag of a spa service.

3) As I mentioned, I feel as though much of my targeted demographic would be women seeking out facial services that want to feel pampered but might not necessarily have all the time in the world to head to a spa. Comparing my business idea to that of the Dry Bar, which also targets solely women and offers hair blow-out and styling services only, I would capitalize on the "experience" factor women seek out and care about when selecting businesses to use, especially considering the landscape we live in today, where women love to document their unique experiences via social media.

4) Again, I think customers in my targeted demographic would care about my offered service and business because it is capitalizing on a gap in the market, follows an already successful formula as documented by Dry Bar, and caters to the experience factor while not breaking the bank and becoming too much of an inconvenience in terms of time.

5) I think the idea at its root is what sets it apart from other businesses as I haven't really seen many ideas similar with the same purpose, capitalizing on an open market with slim competition and an already set-up, established demographic wanting to seek out these services, yet they are seemingly non-existent in the format I am proposing.

I do think these elements all fit together in a way that can create a functioning business that could become a trend and attract consumers to fuel the idea, especially considering there are various avenues to grow the business and generate more opportunities within. My only concern with the prospective business idea is with pricing because the business is contingent upon it as it determines how widespread our range of customers would be. If prices are too high, then customers may not feel the service is worth it, which would definitely be the downfall. However, should the element of experience exceed expectations as I hope, I think the prices would be seen as fair and valuable once a crop of customers has been established.

4 comments:

  1. Hi Rachel! I enjoyed reading through your ideas for a facial spa. I think your last paragraph does a good job pointing out a concern of this business. Getting the pricing right is crucial to success. If prices are too high, you may not be reaching the audience you were targeting. But, if prices are too low, people may not see the services as comparable to what a spa offers.

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  2. Hello,
    I think that your idea is a good start as you have a target group as well as are in a gap in the market. However as you state in your last paragraph you need to price it right because too expensive and people rather just go for a better service that maybe a similar price. I think that you need to make sure that you target all the segments available as there are many.

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  3. Hey Rachel,

    Your idea is very good, I think it can really help make people feel more confident about themselves in their everyday lives. Just like your idea, my idea of a reusable blood testing strip can help people by making these already existing products or services into new and affordable alternatives. Your target demographic might need to be narrower, such as saying it is for busy parents or just busy people who cannot go to a traditional spa.

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  4. Hey Rachel,

    I think your idea is really good. I love the idea of an express facial spa for women and men on the go who need a quick touch up in their face. I think this idea will help boost peoples self esteems and make them feel more confident about their facial features. I think getting to the price aspect will be tricky, especially when you are taking into account the products you are using on your costumers faces.

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