Business Startup

Kelly was a single mother and was employed as a nail technician. Although Kelly was happy and performed her job well, the proprietor employed her own daughter which left Kelly unemployed. With a four year old son, Kelly found it extremely difficult to find employment which would work along side her childcare needs, so decided that self employment could be an option to solve her employment needs.

The Princess Trust supported Kelly with writing a clear business plan and ensured that thorough market research was carried out to establish that the proposed business was viable in the premises she had previously selected. The Trust also assisted with her pricing policy, ensuring that all her treatments were priced at a level that would be appropriate for the business’s area and would provide her with a realistic profit margin. The Trust also offered assistance in the preparation of a more accurate cash flow forecast and organised a surveyor to insure the business premises was in order.

Kelly was assigned an experienced mentor who offered valuable business advice and felt ready in late November to launch her new nail and tanning business. Although she expected that business would be quiet during the weeks approaching Christmas and New Years, her business performed well and exceeded her initial cash forecast.

Kelly feels that starting a business has made her more confident and has encouraged her to manage her money in a more responsible and efficient manner.