Marias Dance Studio Case Study
It has won many championships and is affiliated with the local surrounding schools as the home of street dance. The purpose of this proposal is to raise EYE for the already existing dance studio; the studio is trying to expand its business by 20% revenue and 20% customer base. The proposal explains and highlights the investment will go towards adding 6 weeks massage training workshop to the existing dance classes to appeal to a wider variety of older and mature couples that would run several times a year.
There would be an extensive advertising campaign with all the local papers as well as word of mouth, the studio old also sell some massage oils as part of the workshop to encourage people to practice. The workshop is aimed at couples mostly between 35-69 as Norwich has a high rate of older people in the community; this is way to provide a fun and bonding experience for couples Industry Analysis The current economic market condition in UK has seen itself out of a recession and inflation is at a four-rear low, employment is on the rise with the average total earning has risen by 1. %compared to a year ago according to the ONES latest figures, owe is a good time for the studio to expand and increase membership and revenue Due to the current growing trend among consumers to reduce stress and to look and feel good the massage and spa industry has become an important contributor to the I-J economy. Research firm SIR shows that the global spa and massage industry is worth Bean, there around 800 a day residential and leisure club massages available in the UK A way to estimate the massage market is to indirectly look at the spa industry, which offers massage services as their main product.
Massage services account for 21% of all spa services Growth in the massage market is inevitable as massage penetration increases and consumer awareness increases, the latest figures according to Minute states that around 31% of massage guests are first timers, this suggests that there over 5 million new massager enthusiasts each year. This makes it apparent that there is notable growth and demand in the area Customer Analysis The target market for the studio is couples aged between 35-69.
The studio is located in a residential area with lots of families in the area According to research Norwich has a very high population of 65-69 year old imparted with any other part of the I-J, the population of families and adults who have retired is high in this area In 2011, Norfolk population was estimated to be 857,900, an increase of 61 ,200 from 2001. All local authorities in the County increased in population, the highest being South Norfolk (which gained 13,300) and King’s Lynn & West Norfolk (12,200).