1. What is the primary target market for Porsche Hairs and Accessories, and what research or reasoning did you use to identify that specific segment?

Ans: The primary target for Porsche_wigs and accessories are women aged 18-65years within the terrace and northern BC region-who seek beauty and convenience especially professionals, young women and seniors who love fashion and enjoy shopping beauty products.

The reasoning behind this is supported by the busy schedule of work professionals like those in health, trades who are busy and do not have time for salon appointments due to work schedule, and seniors who also due to health condition or natural aging factors have suffered hair loss, long awaiting salon appointment   would want to enhance their beauty by using the wig.

2. What is the unique value proposition and how does it clearly differentiate itself from other hair and accessories companies in the region?

Ans: It’s unique value proposition is to empower women to feel beautiful, confident, and effortlessly stylish with premium quality ready to wear wigs and hair accessories that are tailored to real life styles by blending salon-quality beauty with accessibility, education and community trust.

It differentiates itself from other brand by;

  1. Bridging the gap between online convenience and salon expertise by giving the right fit meaning Customers knowing what they are getting.
  2. Educating customers on  wig styling and maintenance. This gives customers a confidence in the product they are buying as they get to understand how the wigs are maintained, and how they can style or wear properly.
  3. Porsche_wigsand accessories through its DIY YouTube videos builds relationship with local professionals, women within the community thereby, giving an emotional and social value  and not just transactional
  4. Apart from customers just ordering online like in the case of competitors, Porsche_wigs and accessories offers a balanced model of convenience by ordering online and customer support on responding to various complaints/queries and a possibility of product exchange.

3. How did you determine your pricing strategy and how does it align with both your target customer’s willingness to pay and competitor pricing in this niche?

Porsche_wigs and accessories will set its prices ($90-$500) primarily based on perceived value by the customer, product quality and level of service delivery rather than just cost or competitor pricing alone.

4. Which promotional channels like social media, local events, influencers, partnerships will you deploy and why are they the best fit for your target market?

  1. Ans: We will be making the use of social media like Facebook, Instagram because our audience consist of young women and professionals who love to shop and the social media platform is where the audience gets beauty inspiration and product recommendation.
  2. We will also make use of Local community events for the our seniors who will like to feel and touch the products firs-hand before purchase
  3. We will also make use of you tube and Instagram live  by maintaining an engaging online store with customers and for virtual consultations.

5. What is your location or distribution strategy physical store, online, pop-ups and how does it support both accessibility for your customers and your brand positioning?

The business will be located in terrace but orders will be taken online. In the first year I will be using part of my apartment for the  business location where the wigs will be sorted and dispatched out for delivery. The use of Social media fronts and company website makes the brand accessible to customers outside BC and this expands market reach, it offers virtual consultations for easy ordering and nationwide delivery.

6. How do you plan to allocate your marketing budget between digital advertising (social media campaigns) and local outreach initiatives (flyers, community events, pop-up booths)? how does it support your marketing objectives and expected returns like customer acquisition cost, lifetime value?

Ans: My plan is to allocate 55% of the marketing budget to outdoor advertising which include pop-up sales, flyers this is to help strengthen brand presence in terrace and northern B.C while 45%   will be allocated to digital advertising which will target online customers across province. This balanced allocation supports our marketing objectives of growing brand awareness, customer base, and building loyalty both locally and online ensuring a strong return on investment and sustainable growth.

7. Who are the main competitors in your market and what tactical or strategic choices will you make to ensure Porsche_Wigs and Accessories stand out from them?

Ans: Our main competitors are Amazon, Ali-express, Luxe Hair and the beauty store or salon within terrace

Porsche_wigs and accessories strategic advantage is its offering of virtual consultations to help customers choose the right fit of wig preference. Educating clients on how how to style and maintain their wigs , Its affordable  prices for the type of quality that is being purchased, its presence in terrace during events, pop up-sale. Its Online presence and finally its offering of diverse range of wigs  and accessories are suitable for different ages, ethnicities and styles.

8. How will you measure success of the marketing plan which KPIs will you use, what targets have you set and how often will you review them?

Ans : The Success of the business will measured using 4 KPI which are

  • Financial Growth and Meeting of Target: This will be reviewed on a monthly and quarterly basis to monitor performance and revenue.
  • Customer Acquisition, Satisfaction and retention: Meeting the target  of  number of new customers acquired and will be reviewed quarterly and maintaining a 60% repeat purchase by loyal customers while for customer surveys and reviews done online will be used to access customer satisfaction .
  • Social media Engagement: This will be measured by the increase in the number of followers on each platform, facebook, Instagram, you-tube subscription, the likes, shares, comments and engagement on all our Social media platforms, this will be reviewed monthly to know our performance
  • Pop up sales: The number of attendees during our pop up sales will help us know how much we have been engaging with the people of terrace, the conversion rated of prospects to clients. For this type of engagement the review will be done immediately after each event.

9. Do you plan to obtain liability insurance to protect against potential customer complaints or allergic reactions to wig materials?

Ans: Yes Porsche wigs and accessories plans to obtain a business liability insurance to protect the company and its customers from potential risk. The insurance will cover product liability, business liability and professional liability

10. What measures will you take to ensure that your international suppliers meet Canadian import and safety regulations for hair and cosmetic products?

Ans: Since, I will be buying from suppliers in china and Vietnam  I will make sure that they are in compliance and meet Canadian import and safety regulations and this will be done during my allocated weeks of hair sourcing for both countries . I will be requesting for their material safety data sheet which will have a list of materials, chemicals and dyes used, The certificate of hair origin which tells the origin of the hair used for making the wigs, product safety certificates as well as lab test reports done by Intertek SGS, which are international inspection companies recognized by Canada as these are certifications and tests recognized by the   Canadian customs  and health Canada.

11. What are your strategic plans for the second year of operation, for example, expanding into wholesale distribution, forming partnerships with salons, or opening a physical storefront?

Porsche wigs and accessories plans to expand beyond its initial local and online presence in the 2nd year by:

  • Expanding into wholesale distribution by supplying wigs and accessories to local beauty stores, boutique across northern BC and nearby regions. This expansion allows for a wider audience and a consistent streams of revenue
  • Collaborating with local stylist and salon owners by offering them discounts, referral commissions and also organizing 2 pop up sales in the year in which customers buy wigs from me and get their wigs styled immediately with these stylist and salon owners for a fee which will be charged by these  stylist.
  • Opening a studio space in terrace towards the last quarter of the 2nd year .This will serve as both retail and consultation space where can try on wigs, do fittings and styling. A physical presence strengthens communities ties and enhances brand visibility.
  • The company will continue improving its e-commerce platform by offering personalized recommendations, customer loyalty programs and also exploring new products based on customers feedback.

12. How much total start-up funding is required and how much capital has the owner already invested?

Ans: For the startup = $6,541.16. Owners investment = $2,000 which was invested in the first year

13. How exactly will investor funds be allocated across inventory, marketing, staffing, and operations?

Ans: 45% of funds will be allocated to inventory (Bulk purchase), 20% for marketing (paid ads, outdoor advertising), 10% for staffing and 25% for operations.

14. When is the business expected to break even and become profitable?

Ans: The business is expected to break even in its 2nd year of operation(12months) by then it will exactly 1yr of its anniversary, profitability after 18months as there is now more visibility and a walk-in store.

15. What validated market research supports there is enough customer demand for this product or service?

Ans: According to the ‘Canada Hair extension and wigs overview, 2028 market research by bonafide research.com indicate that the market was valued at 7.5billion USD in 2024 and is expected to grow to 12.6billion USD by the year 2034.This indicate a potential growth and demand for this product.

16. What are the key risks to launching and early growth, and how will those risks be managed?

Ans: a) Inventory cost can be challenging especially when the intention is to purchase in bulk as sometimes MOQ (Minimum quantity order) is required by some suppliers. =Can be solved by doing a pre-order sales and stocking more of best-selling units or units with more orders.

b) Finding a trusted Supplier with the required quality control can be challenging. The way to solve this for me is to use the suppliers of the brand ‘Princelesshairs’ I once drop shipped with as she is my mentor in the business.

C) Competition From other Established brands in Canada— I intend solving this by focusing on my own niche which is offering customization and custom-made wigs, consultations and education on how to care for each wig type. 17. What products or services will be available at launch and what is the expected price range?  Products that will be available are glue less wigs, wig caps, hair bands, styling tools and styling of the wigs will be the service available also at the lunch date  For wigs price will range from $90-$500, for hair bands price will range from $10-30$ and styling kits from $20-$50

18. What will the delivery timeframes and shipping costs be?

Ans: Deliveries will be done every Thursdays for those within terrace their order will be delivered every Thursday at $15, while for those outside BC will be between 3 to 5 days after order has left the store on Thursday and price is between $25-$60 depending on its location and the urgency of the customer if the customer agrees to pay for express delivery.

19. What will the return, refund, and exchange policy be for new customers?

Ans: Because wigs and hair products are considered personal items, hygiene is very important. Our policy is designed to protect both customers and product integrity:

Returns and Exchanges

  • Unused, unaltered wigs may be returned or exchanged within 7 days of delivery.
  • The lace must not be cut, and the wig must be in its original condition and packaging.

Final Sale Items

  • Accessories, adhesives, and customized wigs are final sale and cannot be returned.

Refunds

  • Once the item is received and inspected, refunds are issued within 3–5 business days.

Full policy details will be available on the website for transparency and peace of mind.

20. How can customers trust product quality since the business is new?

We understand how important quality is—especially when investing in a wig. Here’s how we make sure every customer feels confident shopping with us:

Quality Assurance

  • Every wig is hand-checked, washed, and inspected before shipping.
  • We only work with verified, top-rated suppliers and test samples before adding any new product.

Transparency

  • We show real photos and videos of each product (not stock images).
  • Customers can view hair movement, lace details, and curl patterns before purchasing.

Customer Protection

  • Clear return policies
  • Secure checkout
  • Tracking on all orders

Social Proof (as the brand grows)

  • Before and after photos
  • Customer reviews and testimonials
  • Influencer try-on videos

We aim to build trust through honesty, consistency, and high-quality products from day one.

21. What key assumptions support your revenue growth projections over the first three years?

Ans: Our revenue projections are based on realistic, data-driven assumptions that align with industry trends and early customer feedback:

A. Steady Increase in Monthly Order Volume

  • Yr 1: Establish brand presence; expect gradual month-over-month growth
  • Yr 2: Expanded marketing and product line leads to faster customer acquisition
  • Yr 3: Strong repeat purchases from existing customers

B. High Customer Repeat Rates

Wig and beauty buyers typically make repeat purchases every 3–6 months. Our model assumes:

  • 25–35% repeat rate in Year 1
  • 40–55% repeat rate in Years 2–3

C. Expanded Product Mix

Yearly growth is supported by releasing new textures, lengths, collections, Accessories, care products, and customization services. Possible introduction of subscription or loyalty programs, brand visibility.

22. Which marketing activities are expected to have the greatest impact on sales growth?

 Ans:  Social media channels like Instagram, you-tube ads and Customer reviews and referrals.

23. How sensitive are your projections to changes in customer demand or pricing?

Ans: Our projections are moderately sensitive to ;

Changes in trendy wigs, Competitive pricing in the market, Shift in customers spending or order for a particular wig type.

24. What actions would you take if early results do not meet expectations?

   Ans: Adjust marketing strategy by shifting market budget to the most effective channels, improve on content quality, offer wig bundles promo, introduce limited time discounts.

25. What can a first-time customer expect from their initial experience with the brand?

Ans: An easy to navigate website showcasing products with clear pictures, price and descriptions, Fast and friendly customer support ready to answer questions.

26. What makes the brand experience different from other beauty options available?

Ans: It’s Luxury strands, customer service experience and consultation or guidance on styling and how to maintain wigs, providing trendy, versatile and everyday friendly options suitable for protective styling.

27. How does the business handle customer feedback after the first experience

Ans: We send an automated but personalized follow-up message 5–7 days after delivery asking if the customer is satisfied with their wig or accessories.

Customers are invited to leave a review, share photos, or message us directly with any concerns.

If a customer’s first experience is not perfect, we prioritize; Fast response (within 24 hours), Clear solutions (exchange, adjustment tips, wig customization help, or return eligibility), A dedicated support representative to resolve the concern

We aim to make every customer feel heard and value; All feedback is recorded and reviewed to identify patterns of Common requests for certain textures or lengths, Fit, lace quality, or density preferences, Improvements needed in packaging, instructions, or shipping and this directly influences inventory decisions, future collections, and content creation.

To encourage a strong long-term relationship, we often offer:

  • A discount code for their next purchase
  • Early access to new arrivals
  • Special perks for registering in our email/SMS list

This helps turn first-time customers into repeat customers.

28) What would encourage a first-time customer to return and become a regular customer?

Ans: Great Customer service experience, Product Quality, Loyalty rewards, discounts or sales.