Business Model Presentation
Transcript: Whom would it be beneficial to partner with? Revenue model- Relies upon repeat custom Additionally, provides smaller "impulse" products to increase revenue per client Customer relationship strategy- No "Strategy" per se, however has a strong relationship with clients due to revenue model Could optimize time with clients further- employ or manage time? Customer relationship management- follow up call, but heavily relies on lasting impressions of initial service Wendy has been extremely efficient in performing her activity. Her main activity (nails) is working very well and she has a strong clientele. Her other activity (accessories) has allowed her to make comfortable profits. Customer Segments – who are your customers? Revenue Streams Doesn't have specific strategic partners However, has some relationships Difficult to build strategic partnerships due to level of business activity Little dependency on current "partners" Customer Relationships – how do you relate to entrepreneur clients over time? Channels How dependent are we on our current partners? Value proposition satisfy customers’ needs. Wendy brings her personal touch, best service. Wendy’s value proposition well perceived by customers. Customers come back and advise others to visit her. Competitors offer similar value proposition but Wendy is 20% cheaper. Value Proposition Nail material suppliers- Large choice of other online suppliers Scarf Supplier- Back up scarf supplier has been sourced Bracelets- mass produced, always stock, easily attained from numerous sources Do we use partners enough? Cost Structure Could merge with another small company in the future Employ/partner with a beautician to extend product range and appeal Local retailers- offer Wendy House gift vouchers and post marketing materials Wedding planners- could be included as part of a wedding make-up package The Wendy House Partner Network Key Resources Business Model Presentation Key Activities How well do we work with these partners? Low cost business model is consistent through the low cost pricing in comparison to local competitors How lean is The Wendy House: Eliminate waste- No Free up capacity- No Clear process- Yes Lean accounting- very poor Highest costs- outsourced products, however stock can be held reducing risk Suppliers are beginning to offer perks However, little bargaining power due to small activity "Aromaworks" partnership is mutually beneficial, however more higher profits could be gained Primary suppliers are offering little incentives/perks SalonServices and EBay offer a range of possibilities regarding the supplying of nail products sold at the Wendy House. Bracelets are purchased from BohoBetty.com , no need for an emergency re stock due to the number of customers who visit the Wendy House. All scarfs supplied and not sold at the Wendy House can be returned to its original supplier free of charge. New designer sunglasses being sold in store in order to increase range of products. Partnerships could be later developed when the business further expands: Strategic supplier relationships Other small start ups (Mergers?) Distribution channels for E-Commerce Works with "Aromaworks", sells their products for a cut "Boho Betty" Supplier for bracelets All UK based suppliers Revenue is sustainable due to the in house experience and service customers receive at The Wendy House. Wendy sells a range of products even though she specifies on nails. Wendy strongly depends on customer loyalty in order to sustain her revenue resources. She is recognized as a specialist regarding nails, her prices are lower than her competitors.