Business Idea Journal 2 - Essay Example

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To find a business prospect and determine the best resources that can help produce the products needed to meet the market demands require an entrepreneurial mind. According to Stokes and Wilson (2010), entrepreneurs are creative, innovative and adventurous people. They hop from…
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Business Idea Journal 2 Business Idea Journal 2 Introduction To find a business prospect and determine the best resources thatcan help produce the products needed to meet the market demands require an entrepreneurial mind. According to Stokes and Wilson (2010), entrepreneurs are creative, innovative and adventurous people. They hop from one place to another evaluating ways through which they can set up a profit-making venture that can supply the society with the needed products. With the constant changing human preferences, an entrepreneur should be updated with the latest trends and fashion. Businesses should embrace the latest technological advancements if they wish to offer high-quality services that placate customers’ needs (Stokes and Wilson, 2010).
Although massage therapy business has been tapped into by many magnates within Canada, there seems to be a huge market niche in Halifax. Halifax is a capital metropolitan with a population of about 400,000. Approximately almost a third of the whole population seeks for massage therapy services on a regular basis. This overwhelming demand cannot be sustained by the existing massage parlors in the town. Moreover, many would want to visit a massage parlor that can provide additional services such as barbering services. There is, therefore, the need to establish a reputable massage parlor that, besides providing the therapies, other services such as hair cut can also be offered.
This projected massage therapy parlor will offer two particular services; massage therapy and barbering services. It will be equipped with machines and apparatus, as well as staff specialized in this type of service delivery. Having explored this idea extensively, it has been found that men tend to seek for massage therapy services more than women in Halifax especially in the evenings when they get out from work. This is not to say that women and children do not. This establishment will target the general population; anyone who requires massage and barbering services. The fact that it is combined with a barbershop will attract and sway customers who probably needed to haircuts into asking for massage therapy. Additionally, the business will be more conspicuous in the market since it would be one of its own that has seen this kind of a combination in Halifax.
To reach out to the potential clients, internet resources will be utilized. Social media is one of the many forums that this projected business can be promoted. Facebook, Twitter, Instagram among other electronic platforms would provide opportunities through which the massage therapy business can be promoted. The targeted clients may be reached through various Facebook pages and enticed to come to the massage center for best quality services. Significantly it is worth noting that these services will be offered at the parlors physically, and the online forums only exist for interaction between the business and the target customers.
Based on the extensive exploration of the business idea, there is no doubt that it is worth pursuing. There is high demand for massage therapy and setting up one in Halifax would be viable. Also, combining the massage therapy with a classic barber shop would not only make it stand out in the market but also add profit to the project. The idea is, therefore, worthwhile and should be invested on.
Stokes, D., & Wilson, N. (2010). Small business management and entrepreneurship. Andover: Cengage Learning. Read More
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