Jacquelyn Cohen Jackiecohen22@gmail

1. Jacquelyn Cohen Jackiecohen22@gmail.com (301) 471-1869 Britany Mercer Bmercer2989@gmail.com (240) 671- 3393

2. Mission Statement • Taurus will be a tanning salon that will provide quality service to people in need of some color. • Taurus provides tanning all year long because you should have to wait for summer to get the perfect tan you want.

3. The Team • Worked at a tanning salon in Maryland for two and a half years and used the facilities. I am very qualified to help run and own a tanning salon because I have been included in the process of buying lotions and explaining them to clients, explaining the beds, and all other aspects of running the salon. • Owner- Britany Mercer • Owner- Jackie Cohen • Full time employee- Morning Manager • Part time employee- Evening Manager • Part-Time Employee • Part-Time Employee • Part-Time Employee

4. Market Summary • When we are local we plan to pay for advertisement in the newspaper and to put up some advertisement on local campuses. On the national level we are going to advertise in magazines such as Cosmopolitan, Vogue, Teen Vogue, Allure, People, and US weekly. • We will aim to use 70% of all possible tanning hours in the first year of operation. Our Market Penetration Goal is 500 customers, tanning at least twice a week for a year. That will give us 41,600 total potential tans in one year.

6. Problems • High capital costs. • Consumer acceptance and brand recognition- because the tanning industry in a way could be looked at as an oligopoly because there are few companies that control most of the industry • Health and Safty • Tan Tax

7. Business Concept • Summarize the key technology, concept, or strategy on which your business is based. • Discounts will be promoted for each astrological sign for each month, giving them a 10% discount with proof of birthday. • We will focus on customer service as our best quality

8. Competition Major Competitors: • South Beach Tan • Sun Seekers • Solar Planet All of these companies will be competing with us across the board seeing that we are selling the same service. Taurus does not have to worry about indirect competitors because there are no real replacements for tanning unless you just go outside. Our products and services will be identical if not a slight variation.

9. Goals and Objectives • The future goals for Taurus are to start off on a local level and build up a good reputation and get into the tanning industry. Then when is has matured on a local level take it up to a higher level and expand and spread throughout the country. Taurus’s objective is to provide the best costumer service at a price that will not break your bank. • Two possible tanning sessions in each operating hour • 4,368 x 2 = 8,736 total tanning sessions in one year, for one tanning unit • Seven possible tanning units available • 8,736 x 7 = 61,152 tanning sessions available for Taurus Tanning • Taurus Tanning Market Penetration goal is to use 70% of these available tanning sessions • 61,152 x .70 = 42,806.4 or 42,807 tanning sessions need to be used in order to operate Taurus Tanning • Goal of 500 customers to tan twice a week for a year • 52 weeks a year x 2 times per week = 104 times a year • 500 x 104 = 52,000 total tans in one year, which exceeds my penetration goal of 42,807

10. Financial Plan • Outline a high-level financial plan that defines your financial model and pricing assumptions. • This plan should include expected annual sales and profits for the next three years. • Use several slides to cover this material appropriately.

11. Resource Requirements • Legal Requirements • There are several legal issues when opening a tanning salon. Here we have listed all the things we need to finish before opening day: • Register an employee tax identification number • Register business through Maryland Business Registration • Contact OSHA • Check health codes and permits • Inspection of the salon for heating and electrical units • Join the North American Alliance of Tanning Salon Owners • Setup accounts for: • Financial books • Financial statements • Payrolls • Hire a lawyer and have him look over or register us for: • Lease agreement • Retails sales tax • Individual income tax • Unemployment insurance • Workers’ compensation • Property taxes • Business insurance • Business Liability

12. Requirements cont. • We need to buys beds and blubs • The Versa Spa • Towels and accessories • A washer and dryer • A computer

13. Risks and Rewards • Not enough business due to health effects and media propaganda • Upkeep cost is high • Beds are fragile • Good income • Long term costumers • People always want to be tan, its always a want of soiety

14. Key Issues • Near term • Hiring knowledgeable employees and working out a good schedule • Finding beds at a good price • Economy in a rescission • Long term • Upkeep is expensive • Tan tax and new laws • Receiving a loan to start up could be difficult • Not enough tans to make a profit