Cocoon Esthetics Essay

1963 WordsMar 3, 20158 Pages
thIdentification of Key Issue(s) The key issue that Michelle, owner of Cocoon Esthetics, must deal with is the fact that she must raise roughly $13,000 to $14,000 in order to launch her new business. Michelle has approached two organizations that take part in lending to start-up businesses to obtain a loan. The first company she had been in contact with was the Atlantic Canada Opportunities Agency (ACOA) in which she was eligible to receive a maximum of $10,000 under the Young Entrepreneurs ConneXion Jeunes Entrepreneur Program. The other $3,000 to $4,000 Michelle needed to raise was potentially going to come from the Canadian Youth Business program if all went well. Therefore, Michelle has to approach two different lending organizations in order to obtain funds to launch her company, but in order for Michelle receive the loan she must first create a business plan for Cocoon Esthetics. The problem here lies within Michelle as she is trained as an esthetician rather than a business professional and as a result Michelle does not have training on how to correctly prepare a business plan. Michelle is also under time constraints to get her business into operation. Michelle believes that she has less than a month to begin operations or she could run into the issue of losing her clientele as well as her office location in the midst of the upcoming busy Christmas season. As mentioned, there are a number of issues that Michelle must address in order to start her new business. It also adds pressure that Michelle is also under a very tight time constraint. Company Goals and Objectives The main goal for Michelle is to first and foremost get her company up and running within the time frame she has planned for. This includes obtaining the funds needed to fund the company, setting up her equipment and retail inventory, as well as getting her business registered. This serves as

More about Cocoon Esthetics Essay

Open Document