Business Plan for Testing and Implementing a Business Opportunity in Body Care Services

The purpose of the diploma thesis is to apply the knowledge acquired at school, to examine in greater detail the theory of entrepreneurship, the elements of marketing and business performance, as well as the importance and characteristics of services. The fundamental propositions of the diploma thesis relate to the applicability of entrepreneurship theory in practice and to market research, which forms the basis for understanding competition and assessing market opportunities. The results obtained from the business plan and the conclusions of the market analysis indicate that their entrepreneurial idea is purposeful and justified, and that the business idea of establishing a company for body care is also a promising business opportunity. Through the diploma thesis, we demonstrate that the business idea has realistic possibilities for establishing a company and further development, as the success indicators in the business plan show that they will operate at a profit in all years.

Problem

The purpose of the diploma thesis is to apply the knowledge acquired at school, to examine in greater detail the theory of entrepreneurship, the elements of marketing and business performance, as well as the importance and characteristics of services. The fundamental propositions of the diploma thesis relate to the applicability of entrepreneurship theory in practice and to market research, which forms the basis for understanding competition and assessing market opportunities. After all, not every entrepreneurial idea brings success.

Therefore, it is necessary to evaluate the entrepreneurial idea precisely, determine the company's strategy and all necessary resources, and test it as a business opportunity through a business plan. The author has also used the business plan and professional literature to verify the justification for establishing a company for providing cosmetic body care services. The idea of establishing a company dealing with body care services arose when searching for such services in their area, where there are indeed many providers, but based on waiting times, we conclude that demand exceeds supply.

The fundamental purpose of the diploma thesis is to determine the actual needs and expectations of consumers of such services in relation to lifestyle and purchasing habits. For this purpose, they conducted market research and identified consumer motives and market needs.

Results

The results obtained from the business plan and the conclusions of the market analysis indicate that their entrepreneurial idea is purposeful and justified, and that the business idea of establishing a company for body care is also a promising business opportunity. Through the diploma thesis, we demonstrate that the business idea has realistic possibilities for establishing a company and further development, as the success indicators in the business plan show that they will operate at a profit in all years. The success of a service company depends primarily on consumer satisfaction, which is why it is very important that we understand their expectations.

In the relationship between service providers and consumers, satisfaction is indeed the more important key factor. If a service satisfies the wishes and expectations of users and delights them, they gladly return and share their positive experiences with others as well. Other important factors that influence satisfaction are certainly professionalism and consistent quality of the service provided.

It follows that consumer satisfaction directly affects profit, which is the basic objective of a company and one of the fundamental reasons for its existence. The market analysis on their sample of respondents also showed that consumer loyalty to such services is extremely high, as much as 90 per cent. Marketing and entrepreneurship is one of the most interesting areas for the author of the diploma thesis and very useful in practice.

With the breadth of knowledge acquired at Academia Institute of Technology Maribor – commercial technician programme, this has become even more appealing. Many uncertainties have become clear, numerous assumptions and conjectures have gained their meaning, and the outlook for the future is more realistic. If she had possessed all this knowledge and experience years ago, she certainly would not have suppressed her entrepreneurial ideas, but would have been part of women's entrepreneurship in Slovenia. *Goals can only be achieved through a plan in which we passionately believe and on the basis of which we act vigorously.

There is no other path to success.* (Stephen A. Brennan)