Scenario$*$:

Andre, a trained stylist known for his unique flair and personal touch, wants to own his own business and offer a space where hairstyling is not just a service, but a personalized wellness journey. He has convinced another stylist, with $20$ year of experience and $2,500$ loyal Instagram followers, to join as a co$-$owner. Their salon will feature the latest hair treatments, state$-$of$-$the$-$art digital hair analysis, and a line of exclusive hair care products, all tailored to individual client needs. He aims to attract a clientele who see their hair as an integral part of their identity and are looking for a stylist who can enhance their personal style with expertise and innovation. With only $$120,000$ in start$-$up funds, they need to generate revenue right away and use a location that balances a chic, modern style with affordability.

Questions to Answer:

Business Model Canvas:

a$.$ Identify five of the business model canvas elements that you think are the most important for your client to focus on$.$

b$.$ For each of the elements you have prioritized, complete the element, and write about one paragraph explaining how your recommendation is strategic based on the information in the scenario.

Strategic Planning Process:

a$.$ Which information from the strategic planning process do you think is still missing from the business model canvas?

b$.$ Explain how important you think it is to finalize the steps you identified before launching the business. Justify the level of importance you described.