Feasibility Study on Establishment of Famdom Salon in Quirino Highway, Novaliches, Quezon City
Keywords:Famdom salon, feasibility
The importance of Famdom salon is to give a satisfying service to the customer and provide relaxation to relieve stress after a hectic schedule while their kids are playing in our indoor playground. Even with the busy lives people lead today, including their career, children, school, and managing household duties, opportunities for rest and recreation should not be missed. It is a special time when one can simply enjoy being taken care of. Whether you are having your hair styled or having a facial, a manicure, or a pedicure, you will feel the pleasure of the massage, water, heat, and the application of gentle pressure on your skin. The study used a descriptive method. The researchers surveyed to determine the market viability of the business. It included 4Ps to know if the business and the product and services it offers are feasible to the market. The researchers surveyed 100 respondents composed of employed, unemployed, and self-employed individuals, as well as students. It also utilized financial statements in determining the feasibility of the business. The target mark of the business included kids, teenagers, middle-aged people, male and female customers, employed and unemployed adults, and students along Quirino Highway, Novaliches, Quezon City. The results showed that most of the respondents can afford our services. In terms of the location of our business, out of the 100 respondents, 82% were willing to go to the location of Famdom Salon, while 18% did not agree to the said location. A total of 28% of the respondents preferred to avail haircut and styling in Famdom salon, which are extremely common services to girls and boys. Meanwhile, 22% of the respondents preferred massage, 28% of the respondents chose hair color, 28% of the respondents preferred manicure/pedicure, and 10% of the respondents chose hair rebond. A total of 60% of the respondents indicated that they usually go to a salon with their family/children because they cannot leave their child alone, and 40% of the respondents go to the salon alone or with friends. In terms of the financial aspect, the return on investment was 33.73% in 2020, 33.68% in 2021, 33.82% in 2022, 33.69% in 2023, and 33.75% in 2024. The researchers indicated that Famdom salon can compete with other competitors because it is unique and consistently gives high-quality services to the customer.