Today’s consumers are keeping their vehicles longer andare more aware of the importance of preventive maintenance and scheduledservicing to maximize the lifetime value of their vehicles. According to theanalysis, consumers between 25 to 44 years old are expecting to generate 32.4%of industry revenue. This particular age group visits the industry to have themperform the maintenance as opposed to doing it themselves.
In addition, the ages between 45 to 64 yearsold, the expectation of the revenue is 42.1%. However, some prefer to do it yourself (DIY) option as oppose to hiringthe industry to do the services. Many ina younger age group between 18 and 25 do not own a vehicle. They service their vehicle less than theother age groups and do not maintain it unless it is really is necessary.
Therefore, the revenue may generate 10.7%. The 2015-2016 Nails Magazinereported that there are 393,581 active nail licenses in the U.S. In the stateof Nebraska, there are 1,103 nail technicians and 379 nail salons throughoutthe entire state.
Many consumershave been indulging frequently with manicures and pedicures due to changes intheir income. They are seeing as anecessity to get their nails done. Consumers between the ages of 25 and 34 and consumers below the age 25, arebeginning groups going into the workforce after college. Their income level is lower than the otherage groups. They are likely to purchaseinexpensive salon items but rather purchase basic nail service or haircutservice.
Theage group of 35 to 44 makes up the largest market in the salons than the agegroups 45 to 54 and ages 55 and older. Many consumers have higher income and are able to purchase more itemssuch as hair coloring or nail services on a regular basis. Based on the IBISWorld predicted that 27.0%accounts more revenue between the ages of 35 to 44. Women will likely purchase higher valueservices in the beauty area such as hair and nails.
The 2015-2016 Nails Magazine reported that 97.0% of women purchasednail service than men. The age groups in45 to 54 and age 55and older are more concerned with keeping up on coloring their hair to coverthe grey hairs than getting their nails done. Advertising I wouldbe using different types of advertising to target female customers within themarket. For example, some would betraditional print advertisement and others would be the ads in the web searchengines. It is important to haveinternet-based strategy since many people seek local services for oil changesand nail services.
Nailchanics willdevelop a website of the company’s services, pricing information and ourcontact listing. The company willmaintain the print ads and traditional advertising within our local communitiesto promote the business. I would createFacebook, Pinterest, Twitter and other social media accounts and offerdiscounts.
Furthermore, there will be anoption to allow online scheduling with the social media accounts. This allows customers to convenientlypurchase services without having to leave the page. Another idea is toattend local expos and seminars for example iCan Women’s LeadershipConference. This is addition to advertisingthe business in magazines, radio stations, TV stations and local newspaperssuch as the Omaha World Herald.