Comparative Characteristic of Small Enterprises Business Models in the Beauty Services Market

The business model has been the focus of substantial attention of different researchers. However, it is often used for visualization of the concept of the company, while it can be used for some analysis. Moreover, due to technologies there is a wide list of ways of performing business. That is why, understanding which type of model is more effective in the market is an important finding. What is more, different markets have quite different KPIs, so implementation of such type of analysis on market, where this analysis has not been realized before, will have not only theoretical benefit but practical as well. The purpose of this work is the comparative characteristics of small enterprises business models. In the first chapter there is an analisys of the definitions of the term "business model" available in the scientific literature, which allowed to develop the author's definition. Further, the existing approaches to the construction and analysis of the business model were analyzed. One of the most common ideas is that the base idea of bussines model is how business generates value for customers. So the most relevant approach for this work was identified, based on the sources of value creation. This analisys allowed to develop the methodology of the study in the second chapter and to produce the comparative characteristics small enterprises business models in the beauty services market in the third chapter. The analysis based on existing methodology and it assumes evaluation of the weight of each source of value in the business model of companies of one market and further identification the relationship between the company's financial performance and its business model type (prevalence of certain sources of value) via mathematical model. There’re four sources of value via business model: efficienty, lock-in, complementaries and novelty. The sample consists of eight small businesses of the beauty services market situated in one location. The data based upon survey of key persons in companies operating in one market. This survey includes several theses adopted for the review situation for evaluation on the Likert scale for each source of value generating in business model.