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Lady Rue Business Plan

Lady Rue Business Plan

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a comprehensive business plan especially for women,by a woman!
a comprehensive business plan especially for women,by a woman!

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Published by: Ropafadzo Lavona Musunga on Feb 15, 2013
Copyright:Attribution Non-commercial

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02/15/2013

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Business Description
Industry Overview
 The synthetic human hair industry has become popular over the last decade (2002-2012). Synthetic hair products have been popularized in African societies by the
 
adoption of Western trends namely United Kingdom and United States of America.In an attempt to enhance self-image of women, they have noticed that they needlonger hair to be deemed as attractive and beautiful to themselves and thosearound them. This has seen many products come onto the market, from basic wigsto the more modern Brazilian and Indian weaves
Company Description
Lady Rue Hair Products as a fairly new company in the industry seeks to exploit thesupply deficiency faced in the industry. Demand of hair products in Johannesburgand South Africa exceeds the current supply available to the country. As a companywe will mainly focus on the supply of hair products namely Brazilian, Virgin IndianRemy and Peruvian Hair. Hair products will be procured via import from Guangzhou,China; we have been able to locate a secure and reliable producer of the product. This will be the stepping for the company, as we plan on diversifying to broaden theincome base available to us.
Goals and Objectives
As a company our main goal is to make a profit from all sales made. We also planon diversifying into other markets, but will remain oriented towards women. Welook to start supplying high quality shoes to women in Johannesburg.
Critical Success Factors
 The main market we plan on exploiting has much exposure to European trends andtherefore they will be anxious to get their hands on quality products at cheaperprices. Women in Johannesburg will hear about us, and look for us after they seeproducts on other women. Envy of beauty is a common trait in women.
Products
Product Description
We look to import Virgin Indian Remy synthetic hair. This type of hair is less popularat the moment because of the price that it is offered on the market.
Unique Features
Virgin Indian Remy can be curled, washed, ironed and re-used as long as it is kept ingood condition. We plan on offering this product at prices lower than the currentmarket prices, so as to allow for market penetration which will allow us to win muchneeded market share and customers.
New and Follow-On Products
Once the hair products have established their position in customers minds, we willintroduce products to complement their new look. We will offer high heel shoes,dress shoes, etc.
 
The Market
Industry Analysis
 The synthetic human hair industry is a market that yet to be fully exploited in SouthAfrica. At the moment there are a few companies selling the products that we offer.And they sale at exorbitant prices as they are the sole providers of the products.
Market Analysis
Women in Johannesburg are always looking to be part of the next biggest trend. They tend to be oriented to trending looks, and this weakness is what we seek toexploit. Many women would love to have a nice weave on their heads, but due tothe fact that those that are able to provide high quality weaves charge exorbitantprices for their products, many women have not been able to afford themselves abetter look.
Competitor Analysis
Companies that are currently operating in the same industry are few, and they arehardly able to keep their more affluent customers satisfied. Our competitors arecurrently charging unjustified inflated prices.
Marketing Strategies and Sales
Introduction
In introducing and marketing the products we plan on offering we plan on utilizingviral marketing strategies. We will use word-of-mouth, internet and any othermeans within our reach.
Targeting Strategy
As a company we will mainly target females who are in universities in and around Johannesburg. There are 13 Universities that are in our scope. We are looking atfinding brand and product ambassadors at each of these universities which willallow for the decentralization of our marketing systems.
Positioning Strategy
We plan on making our potential customers aware that the products that we offerare products meant for the high class and affluent people of Johannesburg, meaningthat we will be offering high quality products at prices that are affordable to morepeople than previously perceived. Our products will be available to those in Monasharea and Ruimsig, but we will not go out of our way to provide customers in areassuch as Braamfontien.

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