TRIMAYR Flashcards
What is Trimayr?
A franchise of Hairdressing Salons, founded in 1974 (existed for 50+ yrs)
What type of company is Trimayr?
It is a franchise and it is a listed company
What are the rules for the principals of the franchised salons?
- owner of the business salon is accountable for operations
-Dont have to be a qualified hairdresser
-Salon premises must align with Trimayr’s style
-Use or Electronic equipment (automatically sent to Trimayr: waiting time, duration of service, customer visits, revenue from styling/products)
What are the KPI’s of Trimayr for each salon (franchisee)
There are both financial and non- financial:
Financial (Average spend, Revenue per sq metre)
Non-Financial (no of new customers, avg waiting time, avg service time, customer retention rate, staff turnover)
What system does Trimayr use for reporting to managers?
Trimayr uses a Business Intelligence System (BIS) - this generates additional reports for managers
What are the Franchise agreements in place for Trimayr?
- 5 year deal
-No auto renewal it has to be reagreed between principal and Trimayr
-Success is measured on the franchisee meeting the KPI’s
Where is Trimayr located?
Trimayr is located in Dazzland, with their head office located in the fashion district of Dazzland’s capital
What are the functions of Trimayr’s Head office?
- Franchise Recruitment
-Franchise Management
-Hair Technology
-Finance
-Administration
-Marketing
What does Trimayr’s Hair technology function do?
- covers social media
-Trends/new hairstyles
-Evaluation of products
What does Trimayr’s Franchise management function do?
-Management of 40 Trimayr owned salons
-Review and reccomend the renewal at end of 5 yrs
-Support franchisees once they open
-Performance Management
What does Trimayr’s Franchise recruitment function do?
-Provides assistance with application process
-Evaluates potential franchisees
How does Trimayr provide training?
The Trimayr Academy
-This provides trainings for (apprentices, qualified Hairdressers and Franchise principals)
What is Trimayr’s board made up of?
-Trimayr has 6 exec directors and 5 non exec directors
- This doesn’t suffice the corp governance balance
What is Trimayr’s business model?
It is a model consisting of 4 areas designed to produce value in all ways.
.Create
.Capture
.Define
.Deliver
What is defining value (Trimayr)?
-Customers appreciate reputation and quality
-Work closely with several stakeholders
-Supports manufacturers with new products
-Trimayr works with media, fashion and entertainment industry
What is creating value (Trimayr)?
-Customers willing to pay premium prices
-Providing excellent quality service to encourage customer loyalty
What is delivering value (Trimayr)?
-Salons in convenient locations
-Operates in 2 market segments
-Convenient opening times and hours
What is Capturing value (Trimayr)?
-Model facilitates growth self finances
-Franchised salons pay royalties
What Is Trimayr’s financial situation?
- All revenue streams show positive growth (mainly because of royalties)
-Trimayr Academy grown massively
-Net profit increase by 22.9%
- Lower inventory and recievables days
(Pallo & Troo generates more revenue than Trimayr- 35.7%)
What are the two markets Trimayr operate in?
- Upmarket (one main competitors)
-Midmarket (3 main competitors)
.Trimayr pop
.Trimayr Sheen
How does Trimayr promote themselves?
-Trimayr promotes through advertising (hairdressers appear on TV, social media and newspapers)
What are possible opportunities for Trimayr?
- Growth/ Expansion (e.g beauty salons/ treatments)
-Use of A.I (help customers envision a new style)
-Acquire a competitor
-Move to foreign market
-Consolidation of supply chain (e.g purchase a haircare supplier)
