Business plan : aesthetic clinic in Myanmar

Abstract

Recently, the aesthetic industry is a boom in Myanmar since people are more aware of their looks due to the influence of celebrities and Korean series. Many people are willing to try aesthetic treatments such as laser, Botox, and plastic surgeries. However, a quick beauty fix is not only risky and expensive but also lasts for a short time. The Little Moments Aesthetic Clinic will provide affordable, safe, and value-added services to the customers in Myanmar who want long-lasting beauty benefits. The objectives of the research are to investigate the needs and challenging issues of the customers and to understand consumer behaviour and preferences to successfully implement the business plan. Quantitative research was conducted on 400 participants in Yangon via online survey forms. The results showed that most respondents think that the treatment prices are too expensive and they are interested in Natural skincare treatments especially acne and anti-aging treatments. Among the participants, 61% are willing to pay within 10,001-50,000 MMK and they prefer a stand-alone clinic in the downtown area. Nearly half of participants would look for promotions and discounts to get aesthetic treatments. Receiving safe and satisfying treatments from a professional service provider is very important to the majority of respondents, and they also prefer a good clinic environment with classy and elegant design. The financial projections and scenario analysis for the clinic are done for a 5-year period, and the results are satisfactory. Both survey and financial analysis results showed a promising business opportunity for setting up Aesthetic Clinic in Myanmar.