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Write 8 page essay on the topic Advisor critique including executive summary.The business idea of putting an urban salon in the Park Street is a good idea to complement the other high-end establishmen
Write 8 page essay on the topic Advisor critique including executive summary.
The business idea of putting an urban salon in the Park Street is a good idea to complement the other high-end establishments in the district. Also, the surrounding business environment in the Bristol area offers a lot of opportunities to the market.
Looking at the market study of The Funk, however, the company proves to lack an in-depth study of the market from which it will determine its sales forecast, and subsequent profitability and sustainability of its business operations. Due to this, the company cannot set a clear objective for the business, then create a viable marketing strategy in order to make the business profitable and sustainable.
There are also some items in the profit and loss statement that warrant much scrutiny such as drawings. The purchases may also be overestimated or underestimated because it is based on a forecast that is not backed by data to justify it.
Although all in all, the profitability of The Funk cannot be truly assessed due to inadequacy of information, the weaknesses in the companys business model proves to have significant impact on the companys future sustainability of operations. These weaknesses can be relative disadvantages to the company which could undermine its profitability in the future.
The personal grooming industry is one of the thriving industries for the current as medias influence in culture, as it puts heavy emphasis on personal appearance. The idea behind The Funk which is a trendy salon situated in the Park Street is a good one, to complement the other high-end establishments in the district.
The idea also aims to cater to the younger consumers in the Park Street. The urban theme to reinforce the desired image of the brand, as well as being consistent with the other neighboring establishments is a good business idea.
Using the PEST analysis, we try to look at the environment of The Funk as we try to identify the various forces that may directly and indirectly impact it. After we have identified the
