business plan template for hair company

Hair salon business plan template + PDF

This article presents a model business plan for a hair salon, providing a comprehensive structure to assist you in setting up and running your salon. It is important to note that the names and figures used in this template are fictional, created for demonstration purposes. However, they can be tailored to fit the unique requirements and circumstances of your own hair salon business.

Additionally, for ease of use and customization, a Hair Salon Business Plan PDF is available for download. This article serves as an invaluable tool for entrepreneurs who are keen on developing a robust and practical strategy for launching or growing their hair salon, providing a clear roadmap and comprehensive insights into the industry.

How this hair salon business plan sample was created

Obtain your tailor-made hair salon business plan easily by clicking on 'Get your business plan' . This simple process involves answering a series of questions about your salon, giving key insights into your business. Our sophisticated AI will then craft a detailed business plan, customized to your specific objectives. It is a quick procedure, taking only 5-10 minutes, and you'll have a well-structured plan at your fingertips. This system's adaptability allows you to modify the plan to suit your unique vision. Once you're satisfied, you can save the plan directly to your computer, providing a clear and accessible path to success for your hair salon.

Generate your custom hair salon business plan in minutes!

Hair salon business plan sample, executive summary, business description, market research and analysis.

• Organizational Structure and Management Team

Products or Services

Marketing and sales strategy, operations plan, financial projections, risk analysis.

Curl Me Crazy is strategically positioned within the thriving hair salon industry. Our mission is to create the latest trendy and unique hairstyles that will appeal to young adults and professionals who are our target market.

As an up-and-coming small business with ambitions of growth over the next 3-5 years, we start with the goal of breaking even in Year 1 as we build a solid client base and offset initial investment costs. In Years 2-3, we project a steady revenue growth of 15-20% per annum, and by Years 4-5, with an established clientele and expansion plans rolling out, we foresee profit increases of 25-30%. Our long-term goal is to open a second location and further boost our profitability margins.

Despite potential risks such as market competition, economic downturns, customer retention, supply chain issues, staff turnover, and health and safety concerns, Curl Me Crazy has delineated mitigation strategies and contingency plans for each. These include differentiating with unique services and styles, offering diverse and affordable options, focusing on exceptional customer satisfaction, building trade relationships with multiple suppliers, and creating a positive work environment for team members.

Our operations plan targets a trendy, accessible location in a busy urban area. Operating six days a week, we intend to offer extended working hours on weekends. Our team, constituting a Manager, Assistant Manager, multiple Hair Stylists, and a Receptionist, will operate on a rotating shift basis to maximize productivity.

The Curl Me Crazy team, led by Alex Taylor, the owner and Manager, boasts a wealth of experience in both hairstyling and business management. Supported by Assistant Manager Jamie Lee, renowned for her customer relations expertise, and Lead Stylist Chris Morgan, a highly-acclaimed creative genius, the team is poised to deliver exceptional service to our clients.

We offer a wide range of services encompassing custom haircuts, coloring, styling, and hair care products tailored to the latest trends, client preferences, and the current vogue for personalized hair solutions.

Our sales and marketing strategy hinges on maintaining a dynamic social media presence, as well as forging partnerships with local businesses and influencers for cross-promotion. Coupled with offline efforts like local advertising, promotional offers, and the implementation of an easy-to-use online booking system, we aim to capture a dominant market share.

We acknowledge the presence of key competitors like "Stylish Strands Studio" , "Elegant Locks Salon" , and "Modern Mane Hair Boutique" . While these salons offer quality services and boast trendy clienteles, we are confident that our differentiated services, strong operational strategies, and expertise will set us apart.

Curl Me Crazy, envisaged as a leading trendy salon, is ready to make waves in the competitive hair industry. With our strategic planning and market-focused approach, we are betting not just on surviving, but thriving in the market.

Curl Me Crazy, located in the bustling downtown district of New York City, stands as a thriving venture in the beauty and personal care industry. With an emphasis on creative and trend-setting hairstyles, our business aims to become a trailblazer for young adults and professionals seeking unique, standout looks.

The salon was opened in 2020 by its visionary, Alex Taylor. Alex, having nearly a decade of experience in hairstyling and a fervor for the beauty industry, identified a gap in the market for a hair salon catering specifically to more adventurous, fashion-forward clients. His background in business management has complemented and informed the foundations of Curl Me Crazy, steering it towards its current path of success.

Our mission statement is to "inspire individuality and confidence through transformative hairstyling and exceptional service" . We believe that the sphere of hairstyle is not just about cutting and styling hair but serving as a medium for clients to express their personality and style. At Curl Me Crazy, we are committed to providing that opportunity, where each client's individual style and expression is given paramount importance.

The legal structure of Curl Me Crazy is a Sole-proprietorship, with Alex Taylor being the sole owner and operator. This structure not only equates to more straightforward business operations, but it facilitates quick decision-making and a closer relationship with our employees and clients.

Looking at the long-term potential of Curl Me Crazy, we envision ourselves to not be confined to a single salon. The objective is to become a widely recognized and revered brand in the hair salon industry. With the enriched customer experience we provide and our distinct creative edge, we plan to expand our operations to multiple locations across the nation, fostering a network of satisfied and loyal clients.

Financially, we anticipate seeing substantial growth. As we strategize to expand our client base and motivate employee performance, we expect the business to break even in its first year. Ensuing steady growth over the next 2-3 years promises a positive profit margin with an expected annual revenue increase of 15-20%. Further, by the end of the 5th year, with a more established clientele and expansion course laid out, we look forward to seeing a 25-30% growth in our profits. Thus, the longevity of Curl Me Crazy, despite the overwhelmingly competitive market, seems farsighted and plausible.

The beauty and personal care industry is a challenging and ever-evolving landscape. However, the potential it holds for businesses that are eager to innovate and adapt is astronomical. Our commitment to quality service, paired with our relentless pursuit of the trends and demands of the market, fuels our belief that Curl Me Crazy holds the promise to make a mark on this thriving industry.

Curl Me Crazy is entering the burgeoning hair salon industry, set to make waves with its unique, trendy, and creative hairstyles that target young adults and professionals. The industry is currently valued at $47 billion and is expected to grow at a compound annual growth rate (CAGR) of 1.2% over the next five years.

I. Industry Description

The hair salon industry evolves continually with fashion and pop culture trends, necessitating businesses to stay abreast of the latest styles and techniques. Technological advancements have also influenced businesses, with many establishing digital platforms to expand their reach, streamline operations, and anticipate customer preferences, reflecting the industry's adaptiveness.

II. Target Market

Our target demographic comprise age groups of 18-35, primarily reach college students, young professionals, and trend conscious individuals. As per the census data, this demographic attributes to a population size of approximately 1 million individuals in the city, suggesting a massive potential customer base for our business.

III. Market Needs and Demands

Today's customers seek more than a haircut; they desire experiences and personalized services that cater to their unique style preferences and hair health needs. Additionally, they appreciate convenience in service, evidenced by the growing preference for online booking systems, hinting at the need for innovative service delivery modules.

IV. Market Trends and Patterns

Salons embracing sustainable practices are increasingly favored, representing a shift towards environmentally-friendly products and practices. Also evident is an increasing interest in natural and organic hair care products, suggesting demand patterning around health-conscious products.

V. Competitor Analysis

Key players include "Stylish Strands Studio" , "Elegant Locks Salon" , and "Modern Mane Hair Boutique" . These salons have widespread recognition and a loyal customer base, owed to their service quality and trend-driven styles. However, their offerings have slight premium pricing and lack the personalization we offer.

VI. Potential Barriers to Entry

High setup costs, intensive competition, and the necessity for skilled professionals are significant barriers to entry. However, by leveraging competitive pricing, unique service delivery, and exceptional customer service, we aim to differentiate ourselves in the competitive landscape.

VII. Financial projections

Given our unique value proposition and the robust market potential, we expect to break even in our first year. Over the following two years, we foresee a revenue growth of 15-20% per annum. By our fifth year, leveraging an established clientele, we anticipate profits to increase by 25-30%.

VIII. Contingency Plan

In the event of unforeseen challenges, such as economic downturns or market competition, we plan to diversify services, implement affordable options, and regularly analyze market trends to stay competitive.

In conclusion, with effective segmentation, a differentiated offering, and a strong understanding of market patterns, Curl Me Crazy is poised for success in the bustling hair salon industry.

Organizational Structure and Management

As a small business aspiring to make a big impact, Curl Me Crazy is organized in a streamlined hierarchy that encourages both individual accountability and collaborative teamwork. At the top is Alex Taylor, the owner and manager, whose vision and tenacity guide all aspects of the business. With a decade of experience in hairstyling and a certification in business management, Alex is instrumental in navigating the industry trends, financial management, customer service, and the overall running of the salon. Supporting Alex is Assistant Manager, Jamie Lee. With five years of salon experience, Jamie's role involves overseeing day-to-day operations, scheduling, and client relationship management. The salon also has a lead stylist, Chris Morgan, who brings creative flair with his distinguished hair designs and eight years of industry experience.

Curl Me Crazy currently operates with a team of ten individuals, including the management. The staffing needs are slated to grow as the business expands. We envision hiring three more full-time stylists, a full-time receptionist, and two part-time assistants by the end of year two. All future hires will be local to minimize commute times and to support the local economy.

The company operates with a robust human resources policy that encompasses competitive compensation, clear protocols for performance reviews, open communications, and opportunities for career development. We strive to create a positive work environment that values mutual respect, diversity, and an enduring commitment to our clients' satisfaction. Our practices abide by all employment laws and regulations, ensuring an equitable work environment.

At present, Curl Me Crazy does not engage external advisors or consultants. However, we continue to reassess this as we grow. We consider the integration of an Advisory Board consisting of experienced individuals from different industry backgrounds for strategic guidance, is a long-term possibility.

In conclusion, Curl Me Crazy leverages a focused organizational structure that's calibrated for efficiency, success, and growth. Backed by a dedicated team, clear HR policies, and a commitment to hiring local talent, we are confident to meet the set business targets and emerge as a popular name in the salon industry.

Curl Me Crazy is a forward-thinking hair salon business strategically situated in the heart of New York. Our services primarily include customized haircuts, bespoke coloring services, advanced hairstyling as per the latest trends, and a variety of hair care products. We specialize in delivering personal attention to each client and working with them to create a unique hairstyle that aligns with their personal style and needs.

Our competitive edge in the market stems from the exceptional array of innovative services we offer, coupled with our high-level skills and meaningful client-stylist relationships. Unlike many of our competitors, every client at Curl Me Crazy receives a detailed consultation before any services are performed. This consultation, during which stylists understand client's lifestyle, hair texture, faces structure, and personal style, helps us create customized, flattering looks that can be easily recreated by clients at home.

Curl Me Crazy is currently in its first year of operations but has shown promising growth thus far. Backed by a solid business plan and a feasible financial model, we aim to break even by the end of the first year and gradually increase our revenue by 15-20% per year over the next three years.

Regarding intellectual property, we have registered the salon’s brand name – "Curl Me Crazy" - as a trademark to protect it from unauthorized use. We also respect copyright laws and use only licensed or custom-created music in our salon.

The production process for our hair services can be divided into four main stages: consultation, recommendation, execution, and homecare advice. Each stage is meticulously carried out by our certified and experienced stylists who strive to exceed client expectations.

At Curl Me Crazy, we recognize the importance of using high-quality professional hair care products to deliver brilliant results. We source our products from reliable suppliers who offer eco-friendly and cruelty-free products. We have established relationships with three main suppliers - L'Oréal Professionnel , Redken, and Aveda - to ensure a consistent supply of the highest quality hair care products.

In conclusion, Curl Me Crazy is a dedicated hair salon business with a focus on building a reputation as the destination for personalized and creative hair care services. With our defined path for growth and commitment to service excellence, we are geared up to make a difference in the hair salon industry.

Marketing Strategy

Riding on the back of digital advertising, Curl Me Crazy will deploy a well-strategized digital marketing campaign majorly on Instagram and Facebook due to their wide user-base and marketplace feature. These platforms will be utilized for showcasing our work, including before and after transformations, tutorials, products, and reviews.

Sales Strategy

Our sales strategy is centered on relationship marketing. We will nurture strong relationships with our customers by understanding their preferences and delivering personalized service each time they visit our center.

To guide this process, we are investing in the deployment of a Customer Relationship Management (CRM) system for managing appointments, custodial of customer records and preferences, recall mechanism, and tracking client visit frequency.

Training would be provided for all staff members to comprehend our personalized approach towards sales and ensure uniformity across the team.

Pricing Strategy

Our pricing will be positioned at a medium-high level. We will aim to deliver a premium service experience, maintaining quality at all times to match our pricing. To ensure our services are accessible to varied customers, we will also introduce various bundles and packages, which will offer cost savings to the customers.

Distribution Channels

The primary distribution channel for our service delivery will be our salon. In addition to walk-in customers, we will offer an online appointment feature on our webpage and app. We will also explore partnerships with other beauty service apps, extending our reach.

Promotion and Advertising

Initial promotional activities will be concentrated on drawing customers to our salon. We will offer a 20% discount for first-time customers and a referral program that provides a 10% discount if an existing customer refers a new one. Advertising would be carried out through local newspapers, digital platforms, and billboard promotions.

Customer Service Policies

We operate on a 'Customer First' principle. Our front desk will be trained to address customer needs proactively and promptly. For any service-related complaints, we will offer a free corrective service or a service voucher as a remedy. We will also solicit customer feedback after each appointment to understand opportunities for improvement. Our aim is to drive customer satisfaction, retention, and word-of-mouth referrals.

Curl Me Crazy is poised to disrupt the hair salon industry by seamlessly blending high-quality, personalized services with an innovative operational workflow. Our primary objective is to offer trendy, creative hairstyles for young adults and professionals in a welcoming, relaxed, and efficiently run environment.

• Operational Workflow: Our salon operates six days a week, following a dual shift system that ensures efficient and uninterrupted salon service. The staff rotation involves working in two shifts, with five stylists covering each shift. The first shift starts at 10:00 am and ends at 3:00 pm, and the second shift runs from 3:00 pm to 8:00 pm. Our peak hours, from 5:00 pm to 8:00 pm, will be catered to by all the stylists sharing the workload. This ensures continuous service without overwhelming the employees.
• Production or Service Delivery Processes: As a salon, our core service delivery process involves three steps: appointment, service, and payment. An online booking system integrated into our website and mobile app facilitates client appointments, ensuring that service timing preferences are met accurately and avoiding unnecessary waiting times for clients. Outstanding customer service is our driving force, guaranteed through highly experienced employees consistently delivering trendy and unique hairstyles.
• Quality Control Measures: We prioritize the highest standards of customer satisfaction combined with stringent quality control measures. We conduct regular training workshops where our stylists are updated on the latest trends and techniques. All our employees have met rigorous criteria for their roles, ensuring quality, creativity, and precision in the services delivered.
• Inventory Management: Our salon performs regular inventory checks, ensuring that we never run out of essential products. We also employ a professional inventory management system that triggers an alert when any product reaches its reorder level. This keeps our salon adequately stocked at all times.
• Supply Chain Management: We source hair care products from multiple reliable suppliers to prevent any potential disruption in our supply chain. In the event of delivery delays from one supplier, we always have an alternative to fall back on.
• Facilities and Equipment Needs: Ensuring our salon's neat and welcoming atmosphere demands functional facilities and up-to-date equipment. These include but aren't limited to high-quality salon chairs, professional-grade hair dryers, washing stations, state-of-the-art styling equipments, and a comfortable waiting area for clients. Regular maintenance and timely upgrades are planned to ensure the premises remain at par with current standards.

In conclusion, Curl Me Crazy's solid operations plan is designed to facilitate smooth daily operations and exceptional customer satisfaction, spelling out sure success for the salon in the challenging hair industry.

At Curl Me Crazy, financial integrity is as important as the creative hairstyles we conjure. This section will outline our financial projections, including sales forecast, profit and loss projection, cash flow forecast, balance sheet projection, break-even analysis, and key financial assumptions.

• Sales Forecast: In the first year, we aim for steady growth and recognize this as a crucial period for establishing a strong market presence. We project a monthly revenue of $10,000 that should grow to $20,000 by the end of year one. In the subsequent four years, this is expected to increase steadily, providing us a consistent annual growth rate of approximately 15%.
• Profit and Loss Projection: As investments in marketing, renting, salon setup, and labor costs (salaries and benefits) will form our initial expenditure, we predict a loss in the first quarter. However, we aim to bounce back quickly and expect to start turning a profit by the beginning of the second year with a projection of $50,000. This profit is anticipated to increase year-on-year, reaching $100,000 by the end of year five.
• Cash Flow Projection: We expect positive cash flow starting from the second year of operations. The first year may pose challenges due to an expected lull after the initial setup, but bearing minimum loan expenses and assuming a steady increase in customers, we should be able to maintain adequate cash flow.
• Balance Sheet Projection: Our balance sheet will reflect our growth, with assets increasing progressively with profits and the addition of more salon equipment. Liabilities will reduce over time as loans are paid off, leading to a steady increase in owner’s equity.
• Break-even Analysis: Our break-even point is projected to occur towards the end of the first year. This is based on initial estimations of fixed costs, variable costs, and the average customer spent per visit.
• Financial Assumptions and Considerations: Our financial projections are based on several assumptions, including stable economic conditions, steady client growth, continued relevance of our unique hairstyles, and market price stability for salon supplies. It’s important to note that financial projections can be influenced by a variety of external factors such as economic downturns and increased market competition. To mitigate these risks, we'll allocate funds for contingency and regularly assess our financial strategies to be in line with the market conditions.

In conclusion, with the projected revenue growth and controlled operational costs, Curl Me Crazy is all set to carve a space for itself in the competitive hair salon market while maintaining financial sustainability.

Curl Me Crazy anticipates several potential risks in its journey to being an accomplished hair salon business. However, we also have several mitigation strategies and contingency plans developed to navigate them successfully.

• Market Competition: The salon industry is highly competitive, with new businesses surfacing at many junctures. To rise above the competition, Curl Me Crazy will endeavor to provide unique services bolstered by a diverse range of skillsets our team possesses. Regular market analyses will help us stay tuned with the latest trends and techniques, enabling us in staying ahead of the competition curve.
• Economic Downturns: A sluggish economy could affect our business due to potential reductions in disposable incomes of customers potentially undermining demand. We will counter this by diversifying our services to include low to medium budget options, ensuring we retain clients across various spending capacities.
• Client Retention: Clients are spoilt for choice in our industry, thereby potentially obstructing client retention. We plan to invest in exceptional customer service and satisfaction as our key strategy, supplemented by loyalty programs that secure repeat business and promote referrals.
• Supply Chain Issues: Any disruption in the supply chain can hamper operations, which could be due to various reasons such as logistics issues, stock unavailability, or supplier discounts. As a precautionary measure, we'll establish relationships with multiple suppliers ensuring uninterrupted supply and always maintaining a buffer stock.
• Staff Turnover: Given the creative nature of stylists, one of the challenges we could face is employee retention. Keeping our staff challenged, acknowledged, and satisfied will be vital. We plan to foster a positive work environment with opportunities for personal and professional growth, and regular training to keep them updated with the latest industry trends.
• Health and Safety Concerns: Stringent health and safety regulations govern our industry given its direct relationship with clients' physical well-being. We will adhere to all local and national regulations, keeping staff trained on safety protocols to eliminate any chance of dereliction.

Understanding that risks are inevitable, Curl Me Crazy has in place a robust contingency plan covering all facets of our business. We will establish an emergency fund to cushion against unexpected fiscal challenges, stay connected with the up-to-the-minute industry trends and pivots to keep our business relevant, and most importantly, keep our business model flexible and adaptable based on evolving circumstances.

Our insurance forecast includes extensive coverages that include liability insurance, covering bodily injuries or property damage, workers' compensation insurance to cover medical treatment and disability in case of an employee injury, and property insurance to cover any damage to our business property, lastly, business interruption insurance to cover lost income and continue operating expenses in the event of a disaster causing business disruption.

In the legal area, we will engage with a law firm to guide on all legal compliances required for our salon business. Legal considerations include complying with health and safety laws, employment laws, licensing laws, and applicable tax laws.

In conclusion, while risks are an integral part and parcel of any business, Curl Me Crazy is committed to effectively managing and mitigating any potential pitfalls that may arise along our path. Our comprehensive risk analysis, best practice mitigation strategies, contingency plans, and an all-embracing insurance cover ensure that we stand resilient in the face of any challenge.

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Hair salon business plan template

Download this hair salon business plan template in PDF or Word format, or tailor it to your project directly in our business plan software.

Discover our hair salon business plan template

Our hair salon business plan template gives you the structure to write a professional plan.

Not accustomed to writing business plans? Our hair salon business template will turn a typically challenging process into a total breeze.

Modelled on a complete business plan of a hair salon in Normandy, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.

Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.

7 day free trial. No credit card required. Hair salon business plan template available with paid plans only.

How to use this hair salon business plan template

Edit the hair salon business plan template online, or download it.

There are 3 ways to use this template:

• Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
• Download in PDF: if you're just after a little inspiration, you can download the hair salon business plan template in PDF to read over it
• Download in Word format: want to edit your plan on Word? Simply export the hair salon business plan template to Ms Word (.docx) format

Hair salon business plan template content

This template includes a complete hair salon business plan example, with a financial forecast and the following sections:

• Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
• Company: this section lays out the structure of your business, including its location, management team and legal form
• Products and services: here, you'll give an overview of the services (haircuts, traditional shaves, packages) or products (scalp care) offered by the company
• Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
• Strategy: this section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way
• Operations: this step lays out the company's operational organisation, including the recruitment plan
• Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statements).
• Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Executive summary of the hair salon's business plan

The executive summary gives the reader a clear and concise overview of your business idea.

Our hair salon business plan example's executive summary is formed of the following subsections:

• Business overview: in this subsection, we outline who the hair salon founders are, what legal form they've chosen for the business and the rationale behind the choice of their location
• Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the hair salon's owners and explain who they aim to target
• Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the hair salon over the first 3 years of operation
• Our ask: in this subsection, we outline the amount of financing required to start the hair salon and how it's going to be funded (the founders are seeking both a bank and VAT bridging loan to start their hair salon)

Company overview included in our hair salon business plan sample

This section lays out the structure of your business, including its location, management team and legal form.

Our hair salon business plan template's company section is formed of the following subsections:

• Structure & Ownership: in this subsection, we outline who the hair salon's shareholders are and what legal form they've chosen for the business
• Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
• Management Team: in this subsection, we give an overview of the background of each of the hair salon's founders, explain how they met and why they decided to start a company together

Products and services offered by the hair salon

The products and services section is where you will present the different types of haircuts, shaves, packages and scalp-care items offered by your hair salon.

In our hair salon business plan template products and services section, we cover:

• Haircuts: a range of standardised treatments including haircuts, wash, trim and dry
• Traditional shaves: wet shaves that are both relaxing and true to the traditions of our barber
• Products: a choice of high quality hair and scalp products is available
• Packages: a full-care routine (e.g. full wash, cut and shave)

Market analysis for the opening of the hair salon

The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)

Our hair salon business plan example's market analysis section is formed of the following subsections:

• Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
• Target market: in this subsection, our founders explain which services (haircuts, shaves, styles, trims etc.) their ideal target audience loves and why they chose to target them
• Competition: in this subsection, we take a look at the direct (men's hair salons nearby) and indirect (unisex hair salons) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of new hair salon
• Regulation: in this subsection, we give an overview of the main regulation applicable to our hair salon

Setting the strategy for our hair salon

This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.

Our hair salon business plan template strategy section is formed of the following subsections:

• Pricing: in this subsection, we explain how we set the prices of our main categories of products and services (haircuts, wet shaves, scalp products, hair care products, styles) and the rationale behind our choice
• Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among our hair salon customers
• Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
• Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our hair salon and outline how we intend to mitigate them

Operations section of the hair salon business plan template

This part lays out the company's operational organisation, including the recruitment plan.

Our hair salon business plan example's operations section is formed of the following subsections:

• Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsibilities of each of staff member in our hair salon
• Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
• Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them

Financial plan included in our hair salon business plan template

This section presents the expected financial performance of the hair salon over the next 3 years.

Our hair salon business plan example's financial plan is formed of the following subsections:

• Start-up funding: in this subsection, we list the cost of each item required to launch the hair salon
• Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the hair salon's financial forecast
• Sales forecast: in this subsection, we detail the expected revenues and growth rate for our hair salon in the coming years
• Cost structure: in this subsection, we list all the expenses required for our hair salon to operate smoothly
• Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our hair salon over the next 3 years
• Projected cash flow statement: in this subsection, we analyse the expected cash generation of the hair salon
• Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet

Appendices of the hair salon business plan template

This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Our hair salon business plan template's appendices include:

• A maturity profile chart showing the principal repayments of their loans over the next 3 years
• A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations

Hair salon business plan template sample

Executive summary, business overview.

Jeapau Hairdressers will be a men's hairdressing salon, located in the centre of Caen. We will be offering haircuts, traditional shaves and products for hair and scalp treatment.

The salon will be run by two partners who collectively have 13 years of experience in salons, 2 of which were in managerial roles.

The two partners will be assisted by another hairdresser on a part-time basis.

Market Overview

The French Hairdressing Market

The French hairdressing market is estimated to be worth around 6 billion euros, a mature market, in which there is a concentration driven by salon chains.

The city of Caen had 108,365 local inhabitants in 2012, including 32,598 men between the ages of 20 and 64, which is our core target.

There are approximately forty hairdressing salons in Caen, the majority of which are located in the city centre.

Our salon will be located less than 200 metres from 5 other hairdressing salons, 4 of which cater to both sexes and 1 is targeted towards women.

We are confident that our male specialist positioning will enable us to differentiate ourselves from the local competition. Our prices are slightly lower than competitors, which should enable us to stand out to customers.

Financial Highlights

We expect the salon to be profitable from its second year of operation

Based on the current plan, we expect to achieve a turnover of €104,861 and an EBITDA of approximately €3,715 in year 1. 

We forecast a turnover of €114,234 and an EBITDA of €11,382 in year 3.

The objective of this business plan is to obtain bank financing of €25,000 to finance the purchase of furniture and professional equipment required to launch the business.

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Hair salon business plan template faq.

A hair salon business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.

It consists of two main parts:

• A written part that presents, in detail, your jewellery business, the team, your strategy, and your medium-term objectives.
• A financial forecast that highlights the expected profitability of the hair salon and the initial funding requirements.

The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a hair salon, writing a business plan is a must-have in order to reduce the risk of failure of your project.

Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your hair salon.

Writing a hair salon business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:

• You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
• You may encounter writer's block (especially if it's the first time you're writing a business plan for your hair salon)
• You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
• You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
• Any updates to your hair salon business plan or financial forecast will need to be done manually

Luckily for you, The Business Plan Shop's online platform and hair salon business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.

Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.

Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.

And with our forecasting software all the calculations are done for you, without errors.

The budget to start and run a hair salon will depend on the exact concept and location.

An independent men's hair salon doing mostly haircuts and shaves requires limited investment, whilst a large hair salon catering for both sexes would likely require substantial investment.

This is due to higher rent (in theory), more specalised equipment required and the likelihood of needing more staff.

As an example, in our hair salon business plan template the total initial funding requirement amounted to €45,000, with the founders contributing €20,000.

In order to assess the exact budget for your hair salon idea, you need to do a financial forecast using a financial projection tool such as the one we offer .

The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:

• Access to one of the best business plan software on the market
• Access to our hair salon business plan template which contains a complete example of a written business plan and financial forecast to start a hair salon
• Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
• Access to our financial planning and analysis platform so that you can track the actual performance of your business against what you had planned in your business plan and re-plan easily

But you shouldn't take our word for it: try our solution for free and make your own opinion!

The free trial enables you to try the software for free during 7 days in order to verify that it meets your requirements before buying.

Some features are limited during the free trial, the main limits are:

• You can only create one business plan
• The financials of the first year are visible, but data for other years are hidden
• You can export your plan in PDF but not in Word or CSV
• No access to our business plan templates

You can create your account and start your free trial here .

Access to our template is included with all our paid subscriptions.

Please visit our pricing page to learn about this in more detail.

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Hair Extension Business Plan

High demand, low startup costs, and a recurring revenue model make starting a hair extension business a lucrative and rewarding profession.

Anyone can start a new business, but you need a detailed business plan when it comes to raising funding, applying for loans, and scaling it like a pro!

Need help writing a business plan for your hair extension business? You’re at the right place. Our hair extension business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write A Hair Extension Business Plan?

Writing a hair extension business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Products and services:.

Highlight the hair extension products & services you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of hair extension company you run and the name of it. You may specialize in one of the following hair extension businesses:

• Retail hair extension store
• Online hair extension store
• Wholesale hair extension store
• Mobile hair extension service
• Hair extension subscription box
• Describe the legal structure of your hair extension company, whether it is a sole proprietorship, LLC, partnership, or others.Explain where your business is located and why you selected the place.

Mission Statement:

Business history:, future goals.

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Describe your market size and growth potential and whether you will target a niche or a much broader market.

Competitive Analysis:

Market trends:.

Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your hair extension business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products of Your Bicycle Shop

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your products & services:

Mention the hair extension products & services your business will offer. This list may include

• THair extension
• Hair extension accessories
• Styling products
• Hair extension installation
• Hair extension maintenance & removal
• Customization & color matching
• Hair extension consultation

Describe each service:

Provide a detailed description of each service you provide, including the process involved.

Quality measures

: This section should explain how you maintain quality standards and consistently provide the highest quality service.

Additional Services

In short, this section of your hair extension plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your hair extension business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your hair extension business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & machinery:.

Include the list of equipment and machinery required for hair extension, such as styling tools, application tools, cutting & shaping tools, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your hair extension business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key members of your team, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your hair extension services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your hair extension selling business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This s ample hair extension business plan will provide an idea for writing a successful hair extension plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our hair extension business plan pdf .

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Key Factors in Selecting a Business Location

Frequently asked questions, why do you need a hair extension business plan.

A business plan is an essential tool for anyone looking to start or run a successful hair extension business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your hair extension company.

Where to find business plan writers for your hair extension business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your hair extension business plan and outline your vision as you have in your mind.

What is the easiest way to write your hair extension business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any hair extension business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in a hair extension business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

How detailed should the financial projections be in my hair extension business plan?

The level of detail of the financial projections of your hair extension business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a complete view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

What's the importance of a marketing strategy in a hair extension business plan?

Marketing strategy is a key component of your hair extension business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having an impactful marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It helps you develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Hair extension business plan: blueprint for success, how to write a hair extension business plan.

Want to create a hair extension business plan but don't know where to start?

If you are really serious about selling hair extensions it should be something to consider. If you need an eyelash extension business plan this should help too!

You might think creating a well-crafted business plan can be time-consuming and a little daunting without some guidance. This can be true!

No worries, we are here to help!

Below is a step-by-step guide to what you will need to create a hair extension business plan for your new business or your current.

First, let's go over exactly what a business plan is and why you should have one.

Chapter #1: What is a Business Plan?

A business plan is a written document that highlights in detail how business, usually a new one is going to achieve its goals. It usually lays out a written plan from a financial, operational, and most importantly marketing point of view.

Sometimes a business plan is prepared for the companies which are working on reaching new horizons with their business.

It is important to have the ideas in written form so that they are executed with precision.

You may find it is also useful to demonstrate the feasibility of the prospective new business and to provide a map for its years of operation in the future.

Once the business is up and running, it will be a document you will consider looking at when you are struggling or have any doubts. This consultation can foresee whether you are on track or not; perhaps you have strayed from your initials and need to revert to the original ideas.

Why is a business plan important?

A business plan is necessary because of a number of reasons.

1. Clarify Directions

The primary purpose of a business plan is to explain what the business is or what it intends to achieve in the future. Clarifying the purpose of your business allows you to understand the direction of the forward movement. It may include a simple idea about your business, the product services, and the detailed description of what you expect from the customers as well.

2. To Obtain Financing

A business plan is always necessary if you wish to secure funding, whether you are operating a new plan or want to seek a bank loan or venture capital. But why do investors want to see your business plan? For understanding this, you have to look it through a different perspective.

Let’s suppose you are going to loan someone $1,000 or more for their business. With the hope of getting the money back and seeing a return on your investment, you would want to know exactly how the money would be used, who is going to be in charge, what makes them qualified to succeed, what are their valuable assets, liabilities, and profits look like? Of course, you would want to know the details.

3. To Maintain Your Organization

A business plan ensures that the organizational structure of your business is well developed.

It includes the entitlement of your directors, officers, and specific duties. Thus is can act as a management tool that can regularly be consulted to ensure the organization is on track and the goals are being pursued efficiently.

4. Vision for the Future

For most of the companies, business evolves over time, and factoring future growth into your business plan can prove very crucial to coping with the changes in the markets.

Thus it helps you to envision your future and things you can to safeguard it.

Planning for your Hair Extension Business Model

Congratulations if you have decided to write a hair extension business plan, and you are ready to get started.

The chances of success of your business venture have significantly increased, and before drafting your plan, you need to plan on how to do it. Whenever you are presenting your business model, the only factors that will determine its value shall be the projections and proposals. That’s even more relevant when you are seeking for finances for your company.

Learning how to sell hair extensions is going to be vital, and your hair extension business plan will be your lifeline.

However, you need to understand that the business plans are very complicated documents. As you are drafting your plan, you are making decisions on very crucial matters e.g. the strategy you will pursue. Considering these things in advance can save you a lot of time in the future.

The following are the strategies you should explore before starting a hair extension venture.

Determine Your Goals and Objectives

• Where do you want your hair business to go?
• Will your hair business be staying stagnant at that time?
• Are you focused on a rapidly growing hair extension empire?

Answering these questions is imperative for building a successful hair extension business plan. Now is a good time to explore every avenue you’d like your business to go down. The best approach is to write an essay on your goals.

Create a Checklist

• How determined are you to see your hair venture succeed?
• Are you willing to sacrifice your personal benefits for the future of your hair company?
• What is going to be your approach if the venture fails?
• How many dedicated people do you need for your hair business?
• What is your goal in terms of revenues for the future?
• What will the hair company's market share be in five years?
• What are your plans for expansion? Are you going to keep your venture local, online, or would you go global?
• Which department would you specifically work on in your venture?
• If selling online, what type of hair extension website will you use?

Setting up your Financial Goals

Your business plan for hair extensions must have some financial goals. For running a business, you don’t need a lot of money to make a lot of money.

An optimistic approach to this is to leave everything on your sales. However, this may also create a problem for you because a business has some constraints.

You have to pay the suppliers first before you get paid by your customers. If this is an issue, you might want to consider Dropshipping Hair Extensions . This cash flow conundrum is the reason that companies have to resort to bank loans, borrowing money from family, or getting a small investor. Start by asking yourself these questions:

1. You must think about having a partner to help you with your hair business. An equal partner, naturally, shall demand higher power and control. Venture capitalists often require management decisions, just like having their say in your important decisions.

For most hair companies that are just starting out, you will not need to go the Venture Capital route unless you have a massive plan.

You don’t want any of these to happen. So the best partner for you is a bank. Banks will not bother you much until you make payments of principal and interest on time.

2. You should keep account of the money you wish to spend on your venture.

3. Anticipating the size of your needs, your spending, and financing, you should consider the running cost as well. If you are going to keep a lot of bundles in stock then what will be your holding inventory cost? These are things that are important to plan.

How Will You Use Your Hair Extension Business Plan?

It might sound a bit ambiguous to you, but a part of planning your business plan is to determine what you would do with it. Your plan of activities can reference to in many ways.

From monitoring your company’s road towards the success to alluring top employees, celebrities, or social influencers to join your venture. On the other hand, you can use a hair business plan as a marketing tool for consumers. This program will help you to create a test ensuring that your company stays credible in the hair extension market.

Marketing is Important for Your Hair Extension Business Plan

If you want to escape the cubicles and want to pursue your passion in the hair extension business, after a business plan you need to draft the key elements of your marketing strategy.

Hair extension marketing is critical to your success and separating you apart from the others in the industry.

The biggest problem with entrepreneurs is that most of them don’t have marketing experience.

No matter how great your hair extensions, no one is going to know if you don’t pitch it the right way. The Business plan for hair extension will be successful if you think about these agendas before writing it.

Who Is Your Target Audience?

Understanding your audience is vital. For a Hair Extensions venture, the target audience should be women, and you need to think about marketing your product in the right way so that more and more women are attracted to your company.

Are you going to be selling retail or wholesale? Is your price point going to be $150 a bundle and only market to the higher end crowd? There are many different aspects of your products and pricing to consider.

Most hair entrepreneurs will focus on the popular hair extensions that they know will sell in the market. This could include glueless wigs , seamless clip-ins, tape-ins, or raw hair bundles.

Knowing your target market will not only maximize profit but will also help you to cope up with the changing market.

What Marketing Strategy Do You Wish to Follow to Reach Your Audience?

Social media is a perfect place to market your products. Many hair companies just focus on growing their Instagram account. Focusing on just one platform that is not even your own can be dangerous if a platform like Instagram starts to lose popularity in the future.

Having a balanced but focused marketing strategy will set you up for hair sales success in the future.

Advertising your products in a newspaper might not just be an excellent idea because most of the people who read newspapers are above 55. Figure out what women usually watch more and customize your message using that medium.

Google Adwords can yield great results if done properly. Spending ad dollars on social media is proving to be one of the best ways to advertise to clients. Make sure to have this part of your plan and either become an expert or hire one.

Allotting a Separate Budget for Your Marketing

When you have given a thought to all these questions, you need to write down the magnitude of marketing for your product.

You might need professional help for marketing your product thus creating a budget beforehand is important.

How Long Should Your Business Plan Be?

For a real hair extensions business plan, you need to make it short and concise. You have to understand that it is not a doctoral thesis. It should have the easy to read format.

One should focus mostly on the fundamentals, robust analysis, and good projections. The following are the specifics you should work one.

• Keep the wording straight and straightforward and avoid using fancy words.
• Use short sentences as they are easy to read.
• Bullet points are crucial as they help the readers to have the information quite quickly.
• Keep the length of the plan very short. If your hair extension business plan is 40 pages, then you haven’t summarized it well.
• Business charts are imperative as they can be used to display predicted growth, sales, margin, and net worth by the year.
• Double-check the paper for any grammatical or spelling errors.

Chapter #2: How to Write a Hair Extension Business Plan?

Now that you have spent enough time understanding the business plan and done your homework in collecting the necessary information, it’s time to roll up your sleeves and start writing your business plan for Hair Extensions.

Following are the components of a business plan:

Executive Summary

The executive summary is considered the most significant segment of your business plan.

This section briefly explains to the reader that where your company is at the moment, what are your aims and ambitions, where you want to take your hair company, and why your business idea is going to be successful.

This can help you on two levels. If you are seeking for finances, the executive summary is the main highlight of your plan and can grab you a potential investor’s interest. On the other hand, it is the first step you lay down when you are starting a company and will determine the success of your hair business in the future.

The executive summary must highlight the strengths of your ideas. Preferably, it is the last section one should write, but it appears first in your hair extension business plan model.

What to include in your executive summary?

The following should be the highlights of your executive summary.

The Mission Statement

This statement explains what your business is about. It describes your business categorically and will give a prospect about your business to the readers.

It should point out straight about your products, the market you wish to enter, your target audience, and your company is or will be better than the others.

Are you going to carry sew-in extensions , closures , edge con t rol , and mink lashes ? Start coming up with a plan of what products you would like to offer at launch and others that you can provide as your hair extension business grows.

Company’s Information

This section will give the readers a closer look at when your business was formed, the name of their founders, their roles, your number of employees, and your location.

Financial Features

This section will highlight the economic points of your business. This section will also cover your financial needs and how do you want to spend the capital.

Significant Achievements

Points of interest are advancements inside the organization that is fundamental to the accomplishment of the business.

Real accomplishments incorporate things like licenses, models, area of an office, any essential get that should be set up for item advancement, or results from any test advertising that has been directed.

If you are just starting a business, you won't have as much data as a built-up organization. Rather, concentrate on your experience and foundation and the choices that drove you to begin this specific endeavor.

Have you been a hairstylist for ten years and have clients always asking you for hair? You practically already have a market built. All you need to do now is set up your hair extension business to start getting sales.

Show that you have done a careful market investigation. Incorporate data about a need or service in your objective market, and how your specific arrangements can fill it.

Persuade the reader that you can prevail in your real market, then address your plans.

Business Description

The business description starts with a short depiction of the business.

While depicting the business, talk about the present standpoint, and also future conceivable outcomes.

You ought to likewise give data on all the different markets inside the business, including any new items or improvements that will profit or antagonistically influence your business. Construct the majority of your perceptions on reliable information and make certain to commentary wellsprings of data as proper.

This is critical in case you're looking for financing; the reader will need to know exactly how tried and true your data is, and won't hazard cash on suspicions or guess.

Following are the things you need to include in your description:

• Describe the nature of your business and enlist the commercial center needs that you are attempting to satisfy.
• Clarify how your items and administrations address these needs.
• List the particular customers and organizations that your business serves or will serve in the future.
• Clarify the competitive advantages that you accept will make your business a win, for example, your area, workforce, efficient operations, or capacity to convey an incentive to your clients.

Market Analysis

This section of the hair extension business plan must give a categorical analysis of your knowledge of the industry and the market as well as your research findings.

What to include in your Market Analysis?

• Industrial Outlook – Describe the hair extensions industry, including its current size, the trends, as well as other trends and characteristics that you foresee in the future.
• Information about your target market – In this particular case, your target market is 99% women. You need to research the specific age group that would be interested in buying your hair extensions and will need to devise a strategy to target this particular group.
• Distinguishing characters - What is the need of your potential customers? How can you fulfill these requirements?
• Market Share – This section shall include the market share and profit you can gain in a particular geographical area.

Organization and Management

Organization and Management follow market Analysis.

This section of your business plan for hair extensions ought to include: your organization's authoritative structure, insights about the responsibility for the organization, profiles of your administration group, and the capabilities of your governing body.

Who does what in your business?

What is their experience and why are you bringing them into the business as board individuals or representatives?

What are they in charge of?

These may appear like additional inquiries to reply in an individual association; however, the general population reading your marketing strategy needs to know who's in control, and so let them know.

Give a point by point portrayal of every division or office and its capacity.

This area ought to incorporate who's on the board and how you expect to keep them there. What sort of pay and incentives do you have for your workers? What about the advancements? Promise your reader that the general population you have on staff are something beyond names on a letterhead.

Service or Product Line

For a successful business model for hair extensions, this part shall incorporate data about the particular advantages of your products – from your client's point of view.

You ought to likewise discuss your item or organization’s capacity to address customer issues, any favorable circumstances your item has over that of the opposition, and the modern advancement organize your item is in.

Sales and Marketing

Once you have studied the target market thoroughly, it should be additionally characterized to decide the total feasible market.

Finding this financial number should be possible in a few ways; however, most expert organizers will portray the available market by focusing on product segmentation factors that may deliver gaps inside the market.

It's imperative to comprehend that the total possible market is the part of the market that you can reach given each condition inside the environment is favorable and there is next to no opposition. In many companies, this is not the situation.

Different components will influence the share of the available market a business can sensibly acquire. These variables are frequently fixing to the structure of the business, the effect of rivalry, techniques for market infiltration, and proceeded with development, and the measure of capital the company will spend so as to increase the market share.

For a successful business plan for hair extension, you need to focus on the following strategies.

• A viable market penetration strategy
• A growth strategy that will include an internal strategy that shall primarily focus on things such as increasing your human resources, an acquisition strategy for buying another business, and a franchise strategy to colonize the world.
• A communication strategy on how you plan to reach your customers, the public platforms you’ll use to advertise, and your influence on social media.

Funding Requests

Consider that your hair extensions business ventures become exceedingly successful.

Now you want to expand your horizons. From a small business setup, you need to make an entry in the big market. For that, you need some finances. You need some people to invest in your venture.

So, what would be your marketing strategy, you need to explain thoroughly in this. You have to outline the requirements of your enterprise, any future funding needs, and how do you plan on using these funds?

This section shall also analyze your strategic financial situation plans in the future. After you have done explaining all these parameters, you need to outline the amount you need right now and the amount you need in the future.

It is the most crucial part of your business plan for hair extension.

Provide the appendix to your reader on demand.

Your hair extension business plan shall also have some relevant documents. This section should not be included in the main body as it contains confidential information about your company.

The Appendix will include:

• Credit history (personal & business)
• Product pictures
• Letters of reference
• Details of market studies
• Relevant magazine articles or book references
• Legal documents

How to Make Your Hair Extension Business Plan Stand Out?

Your business plan will eventually stand out if you determine your target market and research the audience quite well.

For instance, is the market you serve the best one for your item or administration? Are the advantages of managing your business transparent and would they say they are lined up with client needs? In case you're uncertain about the responses to any of these inquiries, make a stride back and return to the establishment of your strategy for success.

The accompanying tips can help you elucidate what your hair extension business brings to the table, distinguish the real target showcase for it, and fabricate a specialty for yourself.

Be clear about what you have to offer

Beyond essential items or administrations, what are you truly offering?

Consider this simple case that will help you to understand the situation: Your town presumably has a few restaurants all offering one essential item—food. Each of these restaurants is focused on the needs of the customers.

One may be a drive-through fast-food restaurant, maybe another offers pizza in an original Italian kitchen, and possibly there's an excellent restaurant that serves fish that and has practical experience in wood-flame broiled admission.

Every one of these eateries offers food. However, they pitch them to focused demographic searching for the one of a kind qualities each brings to the table. What they are truly offering is a combination of product, esteem, atmosphere, and brand experience.

When starting a hair extension business, make sure to comprehend what makes your hair extensions one of a kind. What needs does your item or administration satisfy? Document the advantages and differentiators that will help your business emerge from the group? Your hair extension business plan must show all of these attributes.

Avoid being the jack of all trades

It's imperative to characterize what you're offering unmistakably. You would prefer to become a jack of all trades and master of none since this can negatively affect the business development. As a smaller businessman, it's regularly a superior strategy to divide your items or business into sensible market specialties.

Little operations can then offer particular products and ventures that are alluring to a private gathering of planned purchasers. Thus focus mostly on hair extensions when you are starting your business model of hair extensions.

Identify your niche

Making a specialty for your business is basic to achievement. Frequently, entrepreneurs can distinguish a specialty given their market learning. However, it can likewise be useful to lead a market study with potential clients to reveal undiscovered necessities.

Enhancing Your Hair Extension Business Plan

Once you have successfully created a business plan for hair extensions, you cannot stop right there. You have to devise strategies to enhance your plan from time to time so that it may not die eventually. These enhancements are a critical thing to do because the market is always changing.

Say for the sake of an argument, that the hair extensions your company is offering were outshined by another company that is stronger and has a greater reach to the potential customers. Your business plan might have the solution to this problem, but you wrote it a while ago. The dynamics of the market, the balance, and the need for the product at that particular time were different.

So, with the evolution of the marketplace, enhancing your business plan is an excellent idea. At the end of the day, with the corrections and amendment to your working model, you will be able to create an ideal hair extension business plan. The benefits of which are already mentioned in the start of this article.

Business Plan Software

Let the software do the calculations.

With this software, your financial numbers and estimates will calculate when you plug in your numbers. The business Plan software gives you instant access to business planning calculations and an explanation of every financial term.

Planning Expert

This software comes with video courses from experts that can help you to draft a perfect hair extension business plan.

These courses are specifically generated for small business ventures and have all the tips and tricks to help you draft the business plan that can help you in achieving your goals.

Final Thoughts!

By following all these guidelines, we can ensure you that you can draft an ideal hair extension business plan. A program of activities provides that the organizational structure of your business is well developed.

It is always necessary if you wish to obtain financing, whether you are operating a new plan or want to seek a bank loan or venture capital.

You might need much investment in a hair extension venture, thus working hard on this plan can help you make a marketable draft which will bring you investments and profits. The chances of success of your business venture will significantly increase.

Don't hesitate to ask for help. Organizations like the Small Business Administration are available to help.

With your goals written on paper, you will have a clear idea of how well you are doing with this hair extension business and how far are you from achieving your goals. You will also have a detailed document on your organization's authoritative structure, insights about the responsibility for the organization, profiles of your administration group, and the capabilities of your governing body.

Thus in the future, you might not have to face any problems in distributing the workload and tasks to the people and they will have an idea of how things are done.

Private Label Extensions has helped launch hundreds of hair extension businesses. Always feel free to reach out to us for advice on getting started.

Lastly, even if it takes you days or weeks, you must focus on building a business plan for your hair extension. Once it is done, and the business is running, you’ll understand how well things are working.

Hair Extension Business Plan FAQ's

1. what market research is necessary for a hair extension business plan.

Answer: Comprehensive market research is crucial.

You should analyze the current demand for hair extensions, identify your target market (age, gender, preferences, spending habits), and understand the competitive landscape. Look into industry trends, such as the growing demand for ethical sourcing and high-quality, natural hair extensions.

Research should also cover potential hair extension suppliers , pricing strategies, and the best platforms for marketing and sales (online, salons, specialty stores).

2. How should I price my hair extensions?

Answer: Pricing should consider the cost of procurement, packaging, marketing, and distribution, plus a margin for profit.

Quick Tip: Check out Private Label Branding for all your hair extension branding needs!

Conduct a competitor analysis to understand the price range in the market. Consider adopting a tiered pricing strategy to cater to different customer segments—offering budget, mid-range, and premium products.

Don't forget to factor in promotions, discounts for bulk purchases, and loyalty rewards when calculating your pricing strategy.

3. What is the best marketing strategy for a hair extension company?

Answer: A multi-channel marketing strategy is often most effective.

This could include an engaging online presence (social media, an e-commerce website, SEO), influencer partnerships to leverage their following, and content marketing (blogs, tutorials, testimonials). Highlighting unique selling propositions such as high-quality materials, ethical sourcing, or a wide range of options can set your brand apart.

Additionally, consider offline strategies like participating in beauty expos , partnerships with salons, and local advertising.

4. How important is the supplier selection process, and what should I consider?

Answer: Selecting the right hair extension suppliers is key for maintaining product quality and ethical standards.

Consider factors such as the supplier's reputation, the quality of their products, their production and delivery capabilities, and their sustainability practices. It's also important to evaluate the cost-effectiveness of their offerings and their willingness to work under contracts that protect your company's interests.

Building a good relationship with reliable suppliers can contribute significantly to your business's success.

5. What financial projections are needed in a hair extension business plan?

Answer: Your business plan should include detailed financial projections for at least the first three to five years.

This includes sales forecasts, profit and loss statements, cash flow projections, and a break-even analysis. Consider the initial setup costs, ongoing operational expenses, marketing and sales costs, and any other expenses related to running your business.

Financial projections should be realistic, based on thorough market research and clear assumptions, and they should also include best-case and worst-case scenarios to prepare for various market conditions.

Thank you so much the plan has really been of help to me

Thanks so much, I’m about to start a hair business and this has been so helpful on setting up a plan, I’m a novice but I know I can do it.

Business plans strategys are very necessary.

I would like your help to create my hair extensions business plan

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8 Business Plan Templates You Can Get for Free

8 min. read

Updated April 10, 2024

A business plan template can be an excellent tool to simplify the creation of your business plan. 

The pre-set structure helps you organize ideas, covers all critical business information, and saves you time and effort on formatting.

The only issue? There are SO many free business plan templates out there. 

So, which ones are actually worth using? 

To help remove the guesswork, I’ve rounded up some of the best business plan templates you can access right now. 

These are listed in no particular order, and each has its benefits and drawbacks.

What to look for in a business plan template

Not all business plan templates are created equal. As you weigh your options and decide which template(s) you’ll use, be sure to review them with the following criteria in mind:

• Easy to edit: A template should save you time. That won’t be the case if you have to fuss around figuring out how to edit the document, or even worse, it doesn’t allow you to edit at all.
• Contains the right sections: A good template should cover all essential sections of a business plan , including the executive summary, product/service description, market/competitive analysis, marketing and sales plan, operations, milestones, and financial projections. 
• Provides guidance: You should be able to trust that the information in a template is accurate. That means the organization or person who created the template is highly credible, known for producing useful resources, and ideally has some entrepreneurial experience.
• Software compatibility: Lastly, you want any template to be compatible with the software platforms you use. More than likely, this means it’s available in Microsoft Word, Google Docs, or PDF format at a minimum. 

1. Bplans — A plan with expert guidance

Since you’re already on Bplans, I have to first mention the templates that we have available. 

Our traditional and one-page templates were created by entrepreneurs and business owners with over 80 years of collective planning experience. We revisit and update them annually to ensure they are approachable, thorough, and aligned with our team’s evolving best practices.  

The templates, available in Word, PDF, or Google Doc formats, include in-depth guidance on what to include in each section, expert tips, and links to additional resources. 

Plus, we have over 550 real-world sample business plans you can use for guidance when filling out your template.

Download: Traditional lender-ready business plan template or a simple one-page plan template .

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2. SBA — Introduction to business plans

The U.S. Small Business Administration (SBA) offers two different business plan templates along with a short planning guide. 

While not incredibly in-depth, it’s enough to help you understand how traditional and lean plans are structured and what information needs to be covered. The templates themselves are more like examples, providing you with a finished product to reference as you write your plan.

The key benefit of using these templates is that they were created by the SBA. While they may provide less guidance, you can be assured that the information and structure meet their expectations.

Explore: The SBA’s planning guide and free templates

3. SCORE — Planning workbook

SCORE’s template is more like a workbook. It includes exercises after each section to help you get your ideas down and turn them into a structured plan.

The market research worksheets are especially useful. They provide a clear framework for identifying your target market and analyzing competitors from multiple angles. Plus, they give you an easy way to document all the information you’re collecting.

You will likely have to remove the exercises in this template to make it investor-ready. But it can be worth it if you’re struggling to get past a blank page and want a more interactive planning method.

Download: SCORE’s business plan template

4. PandaDoc — A template with fillable forms

PandaDoc’s library offers a variety of industry-specific business plan templates that feature a modern design flair and concise instructions. 

These templates are designed for sharing. They include fillable fields and sections for non-disclosure agreements, which may be necessary when sending a plan to investors.  

But the real benefit is their compatibility with PandaDoc’s platform. Yes, they are free, but if you’re a PandaDoc subscriber, you’ll have far more customization options. 

Out of all their templates, the standard business plan template is the most in-depth. The rest, while still useful, go a bit lighter on guidance in favor of tailoring the plan to a specific industry.

Explore: PandaDoc’s business plan template library  

5. Canva — Pitch with your plan

Canva is a great option for building a visually stunning business plan that can be used as a pitch tool. It offers a diverse array of templates built by their in-house team and the larger creative community, meaning the number of options constantly grows.

You will need to verify that the information in the template you choose matches the standard structure of a traditional business plan. 

You should do this with any template, but it’s especially important with any tool that accepts community submissions. While they are likely reviewed and approved, there may still be errors.

Remember, you can only edit these templates within Canva. Luckily, you only need a free subscription, and you may just miss out on some of the visual assets being used. 

To get the most value, it may be best to create a more traditional planning document and transfer that information into Canva. 

Explore: Canva’s business plan gallery

6. ClickUp — The collaborative template

Out of all the project management tools that offer free business plan templates, ClickUp’s is the most approachable.

Rather than throwing you into all the features and expecting you to figure it out—ClickUp provides a thorough startup guide with resource links, images, and videos explaining how to write a plan using the tool. 

There’s also a completed sample plan (structured like an expanded one-page plan) for you to reference and see how the more traditional document can connect to the product management features. You can set goals, target dates, leave comments, and even assign tasks to someone else on your team. 

These features are limited to the ClickUp platform and will not be useful for everyone. They will likely get in the way of writing a plan you can easily share with lenders or investors. 

But this is a great option if you’re looking for a template that makes internal collaboration more fluid and keeps all your information in one place.

Sign Up: Get a free trial of ClickUp and explore their template library

7. Smartsheet — A wide variety of templates

I’m including Smartsheet’s library of templates on this list because of the sheer number of options they provide. 

They have a simple business plan template, a one-page plan, a fill-in-the-blank template, a plan outline, a plan grading rubric, and even an Excel-built project plan. All are perfectly usable and vary in visual style, depth of instructions, and the available format.

Honestly, the only drawback (which is also the core benefit) is that the amount of templates can be overwhelming. If you’re already uncertain which plan option is right for you, the lengthy list they provide may not provide much clarity.

At the same time, it can be a great resource if you want a one-stop shop to view multiple plan types.

Explore: Smartsheet’s business plan template library  

8. ReferralRock affiliate marketing business plan

I’m adding ReferralRock’s template to this list due to its specificity. 

It’s not your standard business plan template. The plan is tailored with specific sections and guidance around launching an affiliate marketing business. 

Most of the template is dedicated to defining how to choose affiliates, set commissions, create legal agreements, and track performance.

So, if you plan on starting an affiliate marketing business or program, this template will provide more specific guidance. Just know that you will likely need to reference additional resources when writing the non-industry sections of your plan.

Download: ReferralRock affiliate marketing business plan template

Does it matter what business plan template you use?

The short answer is no. As long as the structure is correct, it saves you time, and it helps you write your business plan , then any template will work. 

What it ultimately comes down to, is what sort of value you hope to get from the template. 

• Do you need more guidance? 
• A simple way to structure your plan? 
• An option that works with a specific tool?
• A way to make your plan more visually interesting?

Hopefully, this list has helped you hone in on an option that meets one (or several) of these needs. Still, it may be worth downloading a few of these templates to determine the right fit. 

And really, what matters most is that you spend time writing a business plan . It will help you avoid early mistakes, determine if you have a viable business, and fully consider what it will take to get up and running. 

If you need additional guidance, check out our library of planning resources . We cover everything from plan formats , to how to write a business plan, and even how to use it as a management tool . 

If you don’t want to waste time researching other templates, you can download our one-page or traditional business plan template and jump right into the planning process.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Kody Wirth is a content writer and SEO specialist for Palo Alto Software—the creator's of Bplans and LivePlan. He has 3+ years experience covering small business topics and runs a part-time content writing service in his spare time.

Table of Contents

• Qualities of a good template
• ReferralRock
• Does the template matter?

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How to create a business plan: examples & free template.

This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.

Executive Summary

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.

It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

• Introducing three new products within the first two years of operation.
• Achieving annual revenue growth of 30%.
• Expanding our customer base to over 10,000 clients by the end of the third year.

Company Description

The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.

Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).

Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.

This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.

Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.

Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.

Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

• Innovative and eco-friendly product offerings.
• Strong commitment to sustainability and environmental responsibility.
• Skilled and experienced team with expertise in technology and sustainability.

Weaknesses:

• Limited brand recognition compared to established competitors.
• Reliance on third-party manufacturers for product development.

Opportunities:

• Growing consumer interest in sustainable products.
• Partnerships with environmentally-focused organizations and influencers.
• Expansion into international markets.
• Intense competition from established technology companies.
• Regulatory changes could impact the sustainable technology market.

Competitive Analysis

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.

Example: Key competitors include:

GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.

EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.

By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.

Organization and Management Team

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.

Marketing and Sales Strategy

In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.

Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.

Logistics and Operations Plan

The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.

Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.

Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.

This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.

By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:

• Year 1: $1.5 million in revenue, with a net profit of $200,000.
• Year 2: $3 million in revenue, with a net profit of $500,000.
• Year 3: $4.5 million in revenue, with a net profit of $1 million.

These projections are based on realistic market analysis, growth rates, and product pricing.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.

Example: The income statement for EcoTech’s first year of operation is as follows:

• Revenue: $1,500,000
• Cost of Goods Sold: $800,000
• Gross Profit: $700,000
• Operating Expenses: $450,000
• Net Income: $250,000

This statement highlights our company’s profitability and overall financial health during the first year of operation.

Cash Flow Statement

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.

Example:  The cash flow statement for EcoTech’s first year of operation is as follows:

Operating Activities:

• Depreciation: $10,000
• Changes in Working Capital: -$50,000
• Net Cash from Operating Activities: $210,000

Investing Activities:

•  Capital Expenditures: -$100,000
• Net Cash from Investing Activities: -$100,000

Financing Activities:

• Proceeds from Loans: $150,000
• Loan Repayments: -$50,000
• Net Cash from Financing Activities: $100,000
• Net Increase in Cash: $210,000

This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.

Tips on Writing a Business Plan

1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.

2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.

6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.

7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

The template is divided into the following sections:

• Mission statement
• Business Overview
• Key products or services
• Target market
• Financial highlights
• Company goals
• Strategies to achieve goals
• Measurable, time-bound objectives
• Company History
• Mission and vision
• Unique selling proposition
• Demographics
• Psychographics
• Pain points
• Industry trends
• Customer needs
• Competitor strengths and weaknesses
• Opportunities
• Competitor products and services
• Market positioning
• Pricing strategies
• Organizational structure
• Key roles and responsibilities
• Management team backgrounds
• Product or service features
• Competitive advantages
• Marketing channels
• Advertising campaigns
• Promotional activities
• Sales strategies
• Supply chain management
• Inventory control
• Production processes
• Quality control measures
• Projected revenue
• Assumptions
• Cash inflows
• Cash outflows
• Net cash flow

What is a Business Plan?

A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.

Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.

A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.

Why You Should Write a Business Plan

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

• Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
• Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
• Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
• Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
• Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.

What are the Different Types of Business Plans?

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

• Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
• Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
• Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
• Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
• Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
• Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
• Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
• One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
• Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
• Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.

Using Business Plan Software

Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.

1. LivePlan

LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.

2. Upmetrics

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

5. Tarkenton GoSmallBiz

Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:

• It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
• It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
• It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
• It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
• It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
• It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
• It presents the company’s financial projections, showing its potential for profitability and return on investment.
• It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
• It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
• It establishes clear, measurable objectives that serve as performance benchmarks.
• It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
• It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
• It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
• It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.

Can I write a business plan by myself?

Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.

What is a business plan outline?

A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.

What are the 5 most common business plan mistakes?

The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.

What questions should be asked in a business plan?

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.

How is business planning for a nonprofit different?

Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.

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Cosmetic Business Plan Template

Written by Dave Lavinsky

Cosmetic Business Plan

You’ve come to the right place to create your cosmetic business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their cosmetic companies.

Below is a a sample cosmetic business plan to help you create your own cosmetic company business plan.

Executive Summary

Business overview.

Guilt-Free Glow is a cosmetics shop located in Spokane, Washington. The company’s mission is to provide customers with high-quality, cruelty-free cosmetics. We want our customers to look and feel their best without feeling guilty about the harm cosmetics do to the environment and animals. Therefore, the shop will sell a wide variety of vegan and cruelty-free cosmetics for people all over the world to enjoy. Some of these products include makeup, moisturizers, and hair care products.

The company is founded by Kiera Smith, who has been a vegan beauty vlogger for five years. During that time, she has amassed 500,000 followers through her beauty vlogs. She has always been committed to finding products that are vegan and cruelty-free. Now that she has gained popularity on Youtube, she is eager to start her own cosmetics line. She will offer an online shop for her followers around the world but also start a shop in downtown Spokane for local residents.

Products Served

The following are some of the vegan, cruelty-free products sold by Guilt-Free Glow:

• Makeup tools and brushes
• Shampoo and conditioner
• Moisturizers

Customer Focus

Guilt-Free Glow will target both online customers and customers located in the Spokane area that are interested in vegan and cruelty-free cosmetics. Since the founder has a large following on Youtube and social media, we expect most of our customers will come from her fanbase. When marketing to local residents, we will focus our efforts on women ages 15 to 65, as this is traditionally the largest customer segment for the cosmetics industry.

Management Team

Guilt-Free Glow is led by Kiera Smith, who has been a successful beauty vlogger for five years. She creates tutorials on makeup techniques and offers other beauty tips. She has always been passionate about using vegan and cruelty-free products in her videos and encouraged her followers to do the same. Since there aren’t many cosmetics companies that dedicate their whole line to these values, Kiera Smith was inspired to create her own line of cosmetics and beauty care products.

Kiera Smith will be the owner of the company and will conduct much of the marketing efforts through her own social media channels. She will hire other staff to help her with the other aspects of the business, including running the retail shop.

Success Factors

Guilt-Free Flow will be able to achieve success by offering the following competitive advantages:

• The founder, Kiera Smith, is a popular beauty guru, and her brand and popularity will help sales and minimize marketing costs.
• Guilt-Free Glow offers great pricing in the vegan cosmetics industry. Vegan and cruelty-free products are often expensive and unaffordable to the average consumer. Guilt-Free Glow will sell all its products at a moderate price so that everyone can buy cosmetics without feeling guilty.
• Guilt-Free Glow will hire friendly, knowledgeable, and highly-qualified staff to help both our online and in-store customers.

Financial Highlights

Guilt-Free Glow is seeking $300,000 in debt financing to launch its cosmetics business. The funding will be dedicated to securing a retail space, manufacturing the products, and purchasing the necessary supplies and equipment for the store. Funding will also be dedicated toward three months of overhead costs, including payroll, rent, and marketing costs. The breakout of the funding is below:

• Retail space build-out: $50,000
• Equipment, supplies, and materials: $25,000
• Three months of overhead expenses (payroll, rent, utilities): $125,000
• Marketing costs: $50,000
• Working capital: $50,000

The following graph below outlines the pro forma financial projections for Guilt-Free Glow.

Company Overview

Who is Guilt-Free Glow?

Guilt-Free Glow’s History

In 2017, Kiera Smith started her Youtube channel, which focuses on beauty tutorials and product reviews. Kiera commits to promoting and working with vegan and cruelty-free brands and educates her audience on the importance of these values for the cosmetics industry. Over the years, Kiera has found that very few cosmetics brands commit to any pledge to be vegan or cruelty-free. Therefore, she decided to start her own cosmetics line that is committed to these values.

Since its incorporation, Guilt-Free Glow has achieved the following milestones:

• Developed the company’s branding image, social media, and website.
• Found a retail location and signed a Letter of Intent to lease it.
• Found manufacturers to create the cosmetic products.
• Obtained a sales and use tax permit for use in Spokane, Washington.

Guilt-Free Glow Products

The following are some of the vegan and cruelty-free products sold by Guilt-Free Glow:

Industry Analysis

According to Fortune Business Insights, the cosmetics industry is currently valued at $287.94 billion and is expected to grow to $415.29 billion over the next few years.

This growth is due to the increasing demand for high-quality cosmetics. The target market for cosmetics has expanded substantially over the past decade, with people of all ages and genders opting to pay good money for high-quality makeup, hair care, and other beauty products. This trend is expected to continue, and the cosmetics industry will only continue to grow rapidly.

Another important trend is the increasing popularity of environmentally friendly, vegan, and cruelty-free products. Guilt-Free Glow is taking advantage of this demand and selling exclusively vegan and cruelty-free cosmetics.

By capitalizing on these trends and our founder’s increasing popularity online, Guilt-Free Glow is expected to thrive in the cosmetics industry.

Customer Analysis

Demographic profile of target market.

Guilt-Free Glow will primarily target Kiera’s current fanbase on Youtube and social media. This fanbase includes 500,000 followers, with the majority being females and under the age of 40.

The company will also target residents of Spokane who may be interested in purchasing vegan cosmetics. Traditionally, the customer segment most interested in this industry is women ages 15 to 65.

The precise demographics for Spokane, Washington are:

Customer Segmentation

Guilt-Free Glow will primarily target the following customer profiles:

• Women ages 15-65
• Kiera’s fanbase
• Beauty professionals and influencers
• Spokane residents looking for vegan, cruelty-free cosmetics

Competitive Analysis

Direct and indirect competitors.

Guilt-Free Glow will face competition from other companies with similar business profiles. A description of each competitor company is below.

Ulta Beauty

Ulta Beauty is a major retailer in the cosmetics industry, being the ultimate provider of all beauty products for millions of people across the globe. The company aims to be the most loved beauty destination of its guests and has ultimately succeeded in that mission. At Ulta, you can find any beauty brand you are looking for, such as Dior, Chanel, and Lancome. Whatever item or brand you need, you are bound to find it at Ulta.

Since 1988, Sephora has been a giant in the cosmetics and beauty industries. It’s one of the top locations to shop for all your high-quality beauty and cosmetics needs and has dominated the cosmetics industry with its global presence. With 2,700 stores in 35 countries worldwide, there are very few locations around the world where you can’t find a Sephora store to visit.

At Sephora, you can find some of the hottest and most exclusive brands, such as Rare Beauty by Selena Gomez and FENTY BEAUTY by Rihanna. Furthermore, Sephora has been recognized by Forbes as one of America’s Best Employers four years in a row and scored 100% on the Human Rights Campaign’s Corporate Quality Index three years in a row. When customers are looking to buy cosmetics conveniently and ethically, they often head to Sephora first.

The Cosmetics Company Store

The Cosmetics Company Store is an online cosmetics company that sells high-quality cosmetics brands to customers all around the world. They carry thousands of products for anyone in need of beauty products, including hair care products, makeup, and moisturizers. Customers can purchase from a wide variety of brands they love and are familiar with, including Estee Lauder, Clinique, and Aveda. In addition to having a large online store, The Cosmetics Company Store has a few retail locations in select areas.

Competitive Advantage

Guilt-Free Glow will be able to offer the following advantages over the competition:

• Guilt-Free Glow offers great pricing in the vegan cosmetics industry. Vegan and cruelty-free products are often expensive and unaffordable to the average consumer. Guilt-Free Glow will sell all its products at a moderate price.

Marketing Plan

Brand & value proposition.

Guilt-Free Glow will offer a unique value proposition to its clientele:

• Wide selection of cosmetics.
• A focus on vegan and cruelty-free products.
• Competitive prices that are more affordable than the competition.

Promotions Strategy

The promotions strategy for Guilt-Free Glow is as follows:

Guilt-Free Glow will be located in a very convenient, highly-trafficked area of Spokane that is frequented by men and women of all ages and backgrounds. The store will be in the same neighborhood as stores, restaurants, and salons. The area of Spokane is frequented by shoppers who live in the area and have disposable income to be able to spend frequently on cosmetics.

Social Media

Guilt-Free Glow will have Instagram, Twitter, and Facebook business profiles where Kiera will post frequently new arrivals to the store, featured clients who are using the products, and upcoming sales and events. The posts will be appealing with professional photographs and will engage customers with discount opportunities if they tag friends in the comments in order to grow their social media following. Kiera will also use her personal social media accounts to promote the company and its products.

Website & SEO Marketing

Kiera will reach out to a website designer to develop a website for Guilt-Free Glow. The website will be easy to navigate and include an option to purchase items online and schedule a pickup time in the store, contact information, and location. The SEO will also be managed to ensure that anyone searching “cosmetics store near me” or “Spokane cosmetics” will see Guilt-Free Glow listed at the top of the Bing or Google search engine.

Partnerships With Beauty Influencers

Kiera will partner with other beauty influencers to spread the word about her company. She will offer discount codes to the influencers’ audiences to entice them to shop for her products.

The pricing of Guilt-Free Glow will be moderate so customers feel they receive value when purchasing their products.

Operations Plan

The following will be the operations plan for Guilt-Free Glow.

Operation Functions:

• Kiera Smith will be the Owner and President of the company. She will oversee the major operations of both the retail and online stores.
• Kiera will hire a General Manager for the store. They will be in charge of day-to-day administrative functions, product inventory, supply orders, hiring, and training.
• Kiera will hire an Assistant Manager to assist with product inventory, supply orders, and managing the store when Kiera and the General Manager are unable to be there.
• The store will have 6 – 8 part-time and full-time employees to assist with stocking merchandise and customer service.
• As the store grows and business picks up, more employees will be added to the team to keep up with customer demand.
• Kiera will hire a Marketing Specialist and Web Designer to develop the store’s branding, logo, and social media accounts. The marketing specialist will also develop the website and manage the SEO.
• She will also hire an Administrative Assistant to help her with the other operations tasks needed to run the company.

Milestones:

Guilt-Free Glow will have the following milestones completed in the next six months.

6/1/202X – Finalize lease agreement for 10,000 square foot retail storefront location.

6/15/202X – Begin build out of leased space.

6/30/202X – Finalize agreements with cosmetics distributors to schedule their upcoming product deliveries to the store.

7/1/202X – Kiera will meet with the web designer so they can get started developing guiltfreeglow.com

8/1/202X – Final walk-through and approval of the built-out beauty retail store.

8/2/202X – Begin social media marketing campaign of Guilt-Free Glow.

8/15/202X – The first shipment of store inventory arrives.

8/16/202X – Hire employees and begin training.

8/18/202X – Stocking and display of product inventory in anticipation of the Grand Opening.

9/1/202X – Grand Opening of Guilt-Free Glow.

Financial Plan

Key revenue & costs.

The revenue drivers for Guilt-Free Glow will come from the sales of cosmetics through the retail location and online store.

The cost drivers will be the cost of the cosmetics inventory, labor expenses, marketing expenses, rent, utilities, and overhead costs.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Initial Customers Per Month: 1000
• Average Item Cost: $20
• Annual Lease: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, cosmetics business plan faqs, what is a cosmetics business plan.

A cosmetics business plan is a plan to start and/or grow your cosmetics business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your cosmetics business plan using our cosmetics Business Plan Template here .

What are the Main Types of Cosmetics Businesses?

There are a number of different kinds of cosmetics businesses , some examples include: Niche market cosmetics, high-end cosmetics, kids cosmetics, beauty blogger/influencer, or make-up artist.

How Do You Get Funding for Your Cosmetics Business Plan?

Cosmetics Businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

This is true for a cosmetics business, a plan for a makeup company or a personal care products business plan.

What are the Steps To Start a Cosmetics Business?

Starting a cosmetics business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Cosmetics Business Plan - The first step in starting a business is to create a detailed cosmetics business plan PDF or doc that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your cosmetics business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your cosmetics business is in compliance with local laws.

3. Register Your Cosmetics Business - Once you have chosen a legal structure, the next step is to register your cosmetics business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your cosmetics business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Cosmetics Equipment & Supplies - In order to start your cosmetics business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your cosmetics business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful cosmetics business:

• How to Start a Cosmetics Business

Other Helpful Business Plan Templates

Ecommerce Business Plan Template Beauty Supply Store Business Plan Template Retail Business Plan Template

Hair Bow Production Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Fashion Industry » Hair Bow Line

Do you want to start a hair bow production company? If YES, here is a detailed sample hair bow production business plan template & FREE feasibility report.

If you are interested in producing beauty accessories especially for women, then you should consider settling for a niche idea such as hair bow production. The truth is that there is a huge market for hair bow, but you must be ready to come up with unique designs, trust me, if you are able to carve a niche for yourself in this line of business, then you will be able to penetrate not just the market in the united states, but the global market.

A Sample Hair Bow Production Business Plan Template

1. industry overview.

Hair bow production business is part of The Wig and Hairpiece manufacturing industry and players includes production companies that mainly specialize in manufacturing wigs, hairpieces and hair extensions for both aesthetic and medical purposes .

The Wig and Hairpiece manufacturing industry, just like most businesses in the manufacturing industry, depends on strong consumer spending to spur the demand for industry products. Over the last half a decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing.

Going forward, as the economy of the United States continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to thrive.

The Wig and Hairpiece manufacturing industry is indeed a major sector of the economy of the United States of America and they generate a whooping sum of well over 1 million annually from more than 61 wigs and hairpiece manufacturers scattered all around the United States of America.

The industry is responsible for the employment of well over 1,107 people. Experts project that the industry will grow at a 4.0 percent annual rate. No player can boast of having a lion share of the available market in this industry.

A recent report published by IBISWorld shows that while the Wig and Hairpiece Manufacturing industry has grown over the five years to 2018, it has experienced volatile conditions. As the US economy continued to improve, higher employment and an improving financial outlook caused both disposable income and consumer confidence to increase.

Furthermore, increased health expenditure and an aging population helped fuel demand for industry products. Typically, older citizens are more likely to experience balding, while increased health expenditure may imply more cases of sicknesses that induce hair loss.

However, the trade-weighted index, which measures the strength of the US dollar, is expected to increase during the five-year period, making domestic goods less desirable to consumers. The number of industry manufacturers has also increased slightly over the five years to 2018 due to a rise in demand for wigs and hairpieces, driven by the aging populace.

Over the five years to 2023, the industry is expected to continue growing at an accelerated pace, due largely to a decline in total import values. Overall, import competition will remain intense and limit overall growth. Domestic demand will continue to be satiated by the import of Chinese and Indonesian wigs and hairpieces, which are more affordable.

Over and above, the wig and hairpiece manufacturing industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale manufacturing only on demand customized hair bows or you can chose to start on a large scale with world class production factories and distribution outlets in key cities through the United States of America and Canada

2. Executive Summary

Zoe & Zara® Hair Bow Productions, Inc. is a standard and registered hair bow and accessories production company that will be located in one of the largest industrial estates in Charleston – West Virginia.

We have been able to lease a facility that is big enough (a 25 thousand square foot facility) to fit into the design of the kind of standard hair bow and accessories production company that we intend launching and we have been able to secure all the relevant permits and license to operate in the city.

Zoe & Zara® Hair Bow Productions, Inc. will be involved in the production of different designs and types of hair bows and related hair accessories for both babies, children and adults that will be retailed in the United States and abroad.

We are aware that there are several large and small hair bow and accessories production companies all around Charleston – West Virginia, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is well secured with various payments of options. Zoe & Zara® Hair Bow Productions, Inc. will ensure that all our customers are given first class treatment whenever they visit our hair bow and accessories production company.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to.

We will ensure that we get our customers involved in the selection of brands that will be on our racks and also when making some business decisions. Zoe & Zara® Hair Bow Productions, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Zoe & Zara® Hair Bow Productions, Inc. is a family business that is owned by Mary Adolphus and her immediate family members. Mary Adolphus has a B.Sc. in Business Administration, with well over 5 years of experience in the wigs and hairpiece manufacturing industry, working for some of the leading brand in the United States.

Although the business is launching out with the aim of producing hair bows and order hair accessories for customers in Charleston – West Virginia, but there is a plan to open our distribution outlets all around major cities in the United States and Canada.

3. Our Products and Services

Zoe & Zara® Hair Bow Productions, Inc. is in the wigs and hair bow and accessories production industry to service a wide range of clients and of course to make profits and we will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business.

Our product offerings are listed below;

• Mass – producing different designs and types of hair bows
• Production of customized hair bows
• Production of other related hair accessories

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the hair bow and accessories production industry in West Virginia and to establish a one stop hair bow and accessories production company in Charleston – West Virginia with distribution outlets in other key cities in the United States of America and Canada.
• Our mission is to establish a world – class hair bow and accessories production company that will manufacture different types and designs of hair bows and other related hair accessories at affordable prices to the residence of Charleston – West Virginia and other key cities in the United States of America and Canada where we intend opening of chains of distribution outlets.

Our Business Structure

Zoe & Zara® Hair Bow Productions, Inc. do not intend to start a hair bow and accessories production company like the usual mom and pop business around the street corner; our intention of starting a hair bow and accessories production company is to build a standard and one stop hair bow and accessories production company in Charleston – West Virginia.

Although our hair bow and accessories production company might not be as big as multi – million dollars wigs and hairpiece manufacturing companies, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Factory Manager
• Human Resources and Amin Manager

Merchandize Manager

Sales and Marketing Manager

• Hair bow and hair accessories Designers and Makers
• Accountants / Cashiers
• Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board.

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Factory Manager:

• Responsible for managing the daily activities in the hair bow and hair accessories manufacturing factory
• Ensures that proper records of raw materials and hair bow and hair accessories are kept and warehouse does not run out of finished products
• Ensures that the factory is in tip top shape and easy to locate
• Interfaces with third – party suppliers (vendors) of raw materials
• Controls hair bow and hair accessories distribution and supply inventory
• Supervises the workforce in the hair bow and hair accessories manufacturing factory.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of hair bow and hair accessories making raw materials are purchased and used
• Responsible for the purchase of hair bow and hair accessories raw material for the organizations
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps increase sales and growth for the company

Hair Bow and Hair Accessories Designers and Makers

• Responsible for designing and manufacturing customized hair bow and hair accessories
• Responsible for designing and mass – producing hair bow and hair accessories

Accountant / Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries.

6. SWOT Analysis

Our intention of starting our hair bow and accessories production company in Charleston – West Virginia is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open distribution outlets all over major towns in West Virginia and key cities in the United States and Canada.

We are quite aware that there are several hair bow and accessories production companies all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Zoe & Zara® Hair Bow Productions, Inc. employed the services of an expert HR and Business Analyst with bias in manufacturing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Zoe & Zara® Hair Bow Productions, Inc.;

Our main strength lies in the high quality of our finished hair bows and hair accessories, the power of our team and the state of the art and well – equipped hair bow manufacturing factory that we own. We have a team of highly trained and experienced hair bow and hair accessories designers and makers and support staff members that can go all the way to produce top notch and durable hair bows and hair accessories.

We are well positioned in the heart of Charleston – West Virginia and close to source of raw materials and we know we will attract loads of clients (distributors) from the first day we open our factory.

A major weakness that may count against us is the fact that we are a new hair bow and accessories production company outlet in Charleston – West Virginia and we don’t have the financial capacity to compete with multi – million dollars hair bow and accessories production companies when it comes to retailing at a rock bottom prices for all their hair bows and other hair accessories.

• Opportunities:

The fact that we are going to be operating our hair bow and accessories production company in one of the largest industrial estates in Charleston – West Virginia provides us with unlimited opportunities to sell our hair bows and other hair accessories to a large number of individuals and retailers.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our hair bows and other hair accessories outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power.

Another threat that may likely confront us is the arrival of a new hair bows and other hair accessories production company in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the Wigs and Hairpiece Manufacturing industry, you will quite agree that the changes in disposable income, consumer sentiment, and ever – changing trends are major growth drivers for sales in this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Wigs and Hairpiece Manufacturing industry.

So also, the rising demand for trendy hair bows and hair accessories, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as hair bows and hair accessories production factories keep prices low to attract more sales amid growing competition.

A close watch on the industry activities reveals that, concentration has increased slightly over the past five years, as merger and acquisition activity has become more prominent. Additionally, companies that have enough funds to invest in multichannel operations have benefitted more than smaller operators with minimal resources.

As part of marketing strategies, hair bow and accessories production companies engage in massive clearance sales and discount sales to attract customers. It is a strategy that helps them welcome new customers and also reinforce the loyalty of old customers.

Lastly, the Wig and Hairpiece Manufacturing industry is projected to continue its trajectory of growth at an accelerated pace. Economic conditions are expected to remain positive and will encourage consumers to spend more on discretionary cosmetic items, including wigs and hairpieces.

Furthermore, higher incomes will enable consumers to invest more in domestically manufactured, custom wigs and hairpieces with a higher price tag.

Moreover, a continuation in the aging of the US population and rise in health expenditure is expected to further increase the pool of potential industry customers. However, import competition is expected to remain fierce, particularly from China and Indonesia.

8. Our Target Market

We are aware that loads of females (babies, children and adults) make use of hair bows and hair accessories. In view of that, we have positioned our hair bow and accessories production company to service the residence of Charleston – West Virginia and every other location where franchise cum distribution outlets will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to manufacture different types and designs of hair bows and hair accessories for females in and around the location where our hair bows and hair accessories will be distributed and retailed.

Our Competitive Advantage

A close study of the wigs and hair bow and accessories production industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiffer competition and we are well prepared to compete favorably with other leading hair bow and accessories production companies in Charleston – West Virginia and throughout the United States and Canada.

Zoe & Zara® Hair Bow Productions, Inc. is launching a standard one stop hair bow and accessories production company that will indeed become the preferred choice of residence of Charleston – West Virginia and every other location where our distribution outlets will be opened.

Our hair bow and accessories production company is located in a corner piece property on a busy road directly opposite one of the largest industrial estates in Charleston – West Virginia. We have enough parking spaces that can accommodate well over 30 cars per time.

One thing is certain; we will ensure that we produce a wide range of hair bows and hair accessories at all times. It will be difficult for customers to visit our hair bows and hair accessories production factory and not see the type of hair bows and hair accessories products they are looking for.

One of our business goals is to make Zoe & Zara® Hair Bow Productions, Inc. a one stop hair bows and hair accessories production company for all class of customers. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups hair bow and accessories production companies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Zoe & Zara® Hair Bow Productions, Inc. is in business to manufacture different designs and types of hair bows and hair accessories for the residence of Charleston – West Virginia. We are in the hair bow and accessories production industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives.

In essence, our source of income will be the supplying and retailing of a wide range of hair bows and hair accessories at affordable prices. Zoe & Zara® Hair Bow Productions, Inc. will generate income by;

• Retailing different designs and types of hair bows
• Retailing of customized hair bows
• Retailing of other related hair accessories

10. Sales Forecast

One thing is certain when it comes to hair bow and accessories production business, if you are into the production of different designs and types of hair bows and hair accessories and your outlet facility is centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Charleston – West Virginia and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the hair bow and accessories production industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Charleston – West Virginia.

Below is the sales projection for Zoe & Zara® Hair Bow Productions, Inc. it is based on the location of our business and other factors as it relates to hair bow and accessories production business start – ups in the United States;

• First Fiscal Year (FY1): $150,000
• Second Fiscal Year (FY2): $250,000
• Third Fiscal Year (FY3): $450,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor manufacturing same designs and types of hair bows and hair accessories and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Zoe & Zara® Hair Bow Productions, Inc. we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Charleston – West Virginia.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the hair bow and accessories production industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Charleston – West Virginia.

In other to continue to be in business and grow, we must continue to sell the hair bows and hair accessories that we produce which is why we will go all out to empower or sales and marketing team to deliver. In summary, Zoe & Zara® Hair Bow Productions, Inc. will adopt the following sales and marketing approach to win customers over;

• Open our hair bows and hair accessories production factory in a grand style with a party for all
• Introduce our hair bows and hair accessories brand by sending introductory letters alongside our brochure to beauty and hair accessories retailers and merchant, households and key stake holders in and around Charleston – West Virginia
• Make use of attractive handbills to create awareness and also to give direction to our hair bows and hair accessories retail outlets
• Position our signage / flexi banners at strategic places around Charleston – West Virginia
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• Engage on roadshows within our neighborhood to create awareness for our hair bows and hair accessories brand
• List our business and products on yellow pages ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our hair bows and hair accessories production factory is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our hair bows and hair accessories brand.

Zoe & Zara® Hair Bow Productions, Inc. has a long – term plan of opening distribution outlets in various locations all around West Virginia and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Charleston before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Zoe & Zara® Hair Bow Productions, Inc.;

• Place adverts on community based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Charleston – West Virginia
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Advertise our hair bows and hair accessories production business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and distribution trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to hair bows and hair accessories production business, it is normal for consumers to go to places (hair bows and hair accessories retail outlets) where they can get hair bows and hair accessories at cheaper price which is why big player in the Wigs and Hairpiece Manufacturing industry will attract loads of corporate and individual clients.

We know we don’t have the capacity to compete with big players in the industry, but we will ensure that the prices and quality of all the hair bows and hair accessories products that are available in our distribution outlets are competitive with what is obtainable amongst hair bows and hair accessories production businesses within our level.

• Payment Options

The payment policy adopted by Zoe & Zara® Hair Bow Productions, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Zoe & Zara® Hair Bow Productions, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for the purchase of hair bows and hair accessories without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a hair bow and accessories production company; it might differ in other countries due to the value of their money. In view of that, here are the key areas where we will spend our start – up capital;

• The total fee for registering the business in the Unites States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Zoe & Zara® Hair Bow Productions, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring Business Consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $55,600.
• The cost for remodeling and equipping the factory with the needed production equipment and machines- $80,000.
• Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for Start-up inventory (stocking with raw materials for the production of hair bows and hair accessories) – $150,000
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs – $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
• The cost of launching a Website – $600
• The cost for the purchase of distribution vans – $20,000
• The cost for our opening party – $7,000
• Miscellaneous – $10,000

We would need an estimate of three hundred and fifty thousand dollars ($350,000) to successfully set up our hair bow and accessories production company in Charleston – West Virginia. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funds / Startup Capital for Zoe & Zara® Hair Bow Productions, Inc.

Zoe & Zara® Hair Bow Productions, Inc. is a private registered business that is solely owned and financed by Mrs. Mary Adolphus and her immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

Part of the plans we have in place to sustain Zoe & Zara® Hair Bow Productions, Inc. is to ensure that we continue to manufacture different types and designs of quality hair bow and other hair accessories, improvise on how to do things faster and cheaper.

We are not going to relent in providing conducive environment for our workers and also the required trainings that will help them deliver excellent services at all times.

From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Zoe & Zara® Hair Bow Productions, Inc. adopt the use of payment machine and accounting software to run the business.

We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better. We will not waste time in adopting new technology, best practices and diversifying our services; expand our product and service offerings once the need arises.

Our key sustainability and expansion strategy as a business is to ensure that we only hire competent and technically sound employees, create a conducive working environment and employee benefits for all our staff members. We know that if we implement our business strategies, we will grow our hair bow and hair accessories production company beyond Charleston – West Virginia to other states in the U.S in record time.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID : In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the production factory: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the needed production machines and equipment, furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with vendors – manufacturers and suppliers of hair bows and other hair accessories: In Progress

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Moscow-City – The Moscow International Business Center

• 3 years ago

Moscow-City is an iconic location for life and work in Russia’s capital. Enormous skyscrapers, business centers, the best restaurants and retail spaces – all this is concentrated in one place. The ultramodern Moscow-City towers are truly striking in their outward appearance, and the layout of the apartments inside and the fantastic views that can be seen from the higher floors are nothing short of impressive.

This skyscraper compound, often referred to as Moskva-City, is the Russian take on Manhattan, where businessmen strike multi-million dollar deals daily while ordinary life goes on next door. Its state of the art spaces offer the ultimate convenience. The infrastructure of this business district is so well-developed that anyone can find something interesting for themselves here: from residential apartments to boutiques, clubs, exhibitions and more.

When the foundations for the Moscow-City skyscrapers were laid, a special kind of concrete was used, the properties of which are amplified by many times compared to standard concrete. Even in the event of a plane crashing into one of the buildings, the structural integrity of the towers will be preserved.

The architects of the Moscow-City Business Center have created a unique locality that has integrated into itself the hub of the capital’s business life and a whole ensemble of historical monuments. Anyone can admire the beauty of these skyscrapers from within or without the compound. There are also a number of apartments for sale or rent available in the MIBC itself. But first, let’s have a look at some more interesting facts about the financial core of Russia’s capital.

• 1 How It All Began
• 2.1 Moscow-City Central Core
• 2.2 Tower 2000
• 2.3 Evolution Tower
• 2.4 Imperia Tower
• 2.5 Moscow Tower and St. Petersburg Tower
• 2.6 Steel Peak Tower
• 2.7 Federation Tower
• 2.8 Mercury City Tower
• 2.9 OKO Tower Complex
• 3.1 Afimall City Shopping Center
• 3.2 Bagration Bridge
• 3.3 Expocentre Fairgrounds
• 4 Renting and Buying Real Estate in Moscow-City

How It All Began

The history of Moscow-City goes all the way back to 1992. The government of Moscow at the time wanted to bring into existence its own skyscrapers like the ones in London or New York. And the idea caught on. In 1992 the project for the construction of the huge “Moscow-City” MIBC compound was enthusiastically approved, kick-starting the painstaking preparatory works. The original intention was that the skyscrapers would only house office space. However, as time went on, the towers began to welcome in ordinary residents who wanted to live on the territory of this business and finance hub.

Moscow-City is undoubtedly a city within a city. Its grandeur is mind-boggling. It is perfect in every way: from location to infrastructure. And today, anyone can get a feel of the atmosphere of the “capital city” of Russia’s business world – many of the apartments in Moscow-City are available for rent. Any citizen of Russia and even nationals of other countries can make use of these offers.

What It’s Like in 2021

Today Moscow-City is not just a magnificent and fascinating sight, but also a real hub for the work, life and leisure of thousands. Its infrastructure is organized in such a way that there is no need to leave the territory of the “city within a city” at all. This business district contains everything one may need for work and recreation. And if one does decide to venture out into the larger metropolis, the MIBC’s three subway stations make this remarkably simple to do.

Moscow-City stands on the Presnenskaya Embankment . Each of the buildings in the district has a name, which simplifies its identification. Some of the buildings form complexes that are united under one name, such as the Neva Towers and the Naberezhnaya Tower complex of two skyscrapers and one high rise. There are a total of 16 towers in the MIBC, of which the most popular are:

• Moscow-City Central Core;
• Tower 2000;
• Evolution Tower;
• Imperia Tower;
• City of Capitals (Moscow Tower and St. Petersburg Tower);
• Steel Peak Tower;
• Federation Tower;
• Mercury City Tower;
• OKO Tower Complex.

Moscow-City Central Core

This is the most complex building within the MIBC compound. Its total floor area is a whopping 1 476 378 sqft (450 000 m²). It consists of two massive parts, each of which boasts a truly impressive infrastructure. The underground part includes 3 Moscow Metro stations, a parking lot for automobiles and a shopping mall. The aboveground part houses a concert hall and a hotel.

Tower 2000 is a skyscraper having 34 stories. Its total floor area is 200 318 sqft (61 057 m²), most of which is office space. The key feature of this skyscraper is its direct connection to the Bagration Bridge, which has its own shopping arcade. The tower has everything one may need while working here, including a large parking lot and several restaurants.

Evolution Tower

This elegant structure is 836 feet (255 m) high – that’s a whole 54 stories! The total floor area here is 554 462 sqft (169 000 m²). The Evolution Tower’s key feature is that it has its own Wedding Hall. This skyscraper houses large office spaces, a parking lot and several restaurants.

Imperia Tower

MIBC’s Imperia Tower is the undeniable focal point of the MIBC’s business life. Its height is 784 feet (239 m), which means one can hold conferences and resolve key business matters on the 59 th floor! And that really is amazing! The tower has everything: offices, hotels, restaurants and parking lots. But if you want a truly unforgettable experience, visit the viewing platform! It is situated on the 58 th floor and a simply astounding view of Moscow can be seen from it.

Moscow Tower and St. Petersburg Tower

The Moscow and St. Petersburg Towers are the chief representatives of the MIBC. The Moscow Tower has 76 stories and is 990 feet (302 m) high, while the St. Petersburg Tower has 65 stories and stands 843 feet (257 m) tall. Both towers offer fantastic views of the capital city.

Most of the floors of these two skyscrapers are taken up by luxurious sky apartments. There are also several recreational and entertainment centers, office spaces, restaurants, etc.

Steel Peak Tower

Also known as the Eurasia Tower of Moscow-City, this supertall skyscraper has a total of 680 912 sqft (207 542 m²) of floor space. Most of this is taken up by offices, and the rest – by residential quarters (around 65 616 sqft or 20 000 m²). The tower also houses a number of the greatest restaurants, studios and shopping centers.

Federation Tower

The Federation Tower is a complex of two skyscrapers, known as Tower East and Tower West. Tower East is the second highest building in Europe (the first is a skyscraper recently erected in the city of St. Petersburg). Its height is a colossal 1 223 feet (373 m) and that makes 95 stories! Tower West, on the other hand, is noticeably shorter at 794 feet (242 m).

The Federation Tower is a multifunctional complex.

Mercury City Tower

The Mercury City Tower skyscraper is widely known as one of the tallest buildings in Europe. Its height is 1 112 feet (339 m) and it has 75 stories. It is multifunctional by concept, holding within its walls shopping centers, offices and all kinds of other spaces. It is also possible to rent apartments here.

OKO Tower Complex

The OKO Tower Complex consists of two towers – the North Tower (49 stories and 803 ft or 245 m in height) and the South Tower (85 stories and 1 155 ft or 352 m in height).

Each of the MIBC’s tower complexes has its own recreational and entertainment areas, restaurants and parking lots. The top floors of most of these buildings contain luxurious fully-furnished apartments. At night, the towers shine with bright lights, while inside them the panoramic windows reveal astounding views of Moscow. This breathtaking view of the capital of Russia is why visiting Moscow-City is a must!

What Not to Miss

There are many interesting landmarks within the Moscow-City compound, but three of them are truly deserving of special attention:

• The Afimall City Shopping Center;
• The Bagration Bridge with two galleries and a shopping arcade;
• The Expocentre Fairgrounds.

Afimall City Shopping Center

The Afimall City Shopping and Entertainment Center is located in Moscow-City’s Central Core. It is divided into 4 zones, each with its own theme – one for every season of the year. The shopping center houses the biggest indoor fountain found worldwide. The height of this watery wonder is 118 feet or 36 meters.

The shopping and entertainment center contains everything one might expect from one of the largest centers of its kind:

• Retail brand stores;
• Exhibitions;
• Game rooms;
• and Restaurants.

The main recreational space is roofed with a giant transparent dome, which is an impressive sight to behold.

Bagration Bridge

Bagration Bridge with its upper and lower galleries has a shopping center all of its own and was the first structure to be built as part of the Moscow-City business district. Its lower gallery is a shopping arcade and its upper gallery is an open-air viewing platform with a spectacular view of the MIBC and the Moskva River. The hall of the bridge houses the 23 foot tall sculpture called “Tree of Life”. Having gone through the bridge via either one of its two galleries, a pedestrian would find themselves standing right on the Kutuzovsky Prospekt.

Expocentre Fairgrounds

The Expocentre Fairgrounds exhibition venue is located at the very heart of the capital. The first exhibition held at the Expocentre happened all the way back in 1959, much earlier than the MIBC was erected. Today it is the venue of many interesting events.

Exhibitions with very diverse themes are regularly held at this complex. An up-to-date schedule can be found on the official webpage of the Expocentre. The events can be free or fixed-price entry, depending on their type.

Renting and Buying Real Estate in Moscow-City

Moscow-City is not only a work and business hub, but also a residential neighborhood. Any citizen of Russia can rent or buy apartments or elite sky lounges here. The variety of residential real estate available inside the skyscrapers is impressive, including options for any pocket. The following buildings in the MIBC contain residential blocks:

This skyscraper has a mirror glass façade which reflects the passing clouds. Just imagine how beautiful that looks! Anyone can buy an apartment in the Federation Tower. Such properties are not only a good investment, but also a mark of prestige. The average price of residential real estate here is 45 million rubles for an apartment with a total floor area of 334 sqft (102 m²). The average price of a square meter (3.28 square feet) is in the range of 650 to 700 thousand rubles. There are two- and three-room apartments available in the Federation Tower, each with its own loggia. As for rent, the minimum price of one month’s stay in a three-room apartment in this skyscraper is 300 000 rubles per month.

The Mercury City Tower skyscraper welcomes citizens from all parts of Russia. This building is no less tall than the world-famous Dubai skyscrapers. Living in its apartments is a delight. The minimum cost of an apartment in the Mercury City Tower is 75 million rubles. The average price of a square meter (3.28 square feet) is 800 thousand rubles. And for those looking for a lower price point, some of the properties are also available for rent – in this case you will pay a minimum of 250 thousand rubles per month.

The Imperia Tower is a key cluster of interesting offers. The best options for buying and renting apartments within the MIBC can all be found in this skyscraper. The lowest price of a residential apartment here is 40 million rubles. A square meter (3.28 square feet) in a luxurious apartment in the Imperia Tower currently costs 600 thousand rubles, while the price range of the listings available for rent in this skyscraper is from 350 thousand all the way up to 1 million rubles per month.

This complex, standing on a faceted or “crystal” base, is an architectural engineering project boasting spectacular design. Behind its impressive façades is an abundance of penthouses and apartments having floor areas in the range of 262 sqft (80 m²) to 984 sqft (300 m²). The minimum price of an apartment in the OKO Tower Complex is 40 million rubles (the price of a square meter (3.28 square feet) is 500 thousand rubles). You can rent an apartment here starting from 400 thousand rubles per month.

City of Capitals

The City of Capitals is an exemplary architectural complex. Its sum appearance gives the impression of a huge city. Inside its walls are spacious apartments available for purchase and rent. This complex is considered to be especially prestigious. The prices of apartments here start from 50 million rubles, while the minimum cost of renting is 400 thousand rubles per month.

Please note! The price of real estate available for purchase or rent depends on: the tower, the floor, the total floor area, the furnishings and/or interior design, and other factors.

The key advantages of buying/purchasing real estate in Moscow-City are:

• Favorable location;
• Convenient transportation links;
• Well-developed infrastructure;
• High safety level;
• Efficient architecture;
• Panoramic windows.

Buying real estate in Moscow-City is very much a rational decision, most appealing to those who value the ultimate level of comfort. The residential apartments here boast impressive interior design solutions executed in the contemporary style.

Related posts

Property tax in russia, the best international schools in moscow.

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Wig Business Plan Template

Written by Dave Lavinsky

Wig Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their wig companies.

If you’re unfamiliar with creating a wig business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a wig business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Wig Business Plan?

A business plan provides a snapshot of your wig business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Wig Business

If you’re looking to start a wig business or grow your existing wig company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your wig business to improve your chances of success. Your wig business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Wig Businesses

With regards to funding, the main sources of funding for a wig business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for wig companies.

Finish Your Business Plan Today!

How to write a business plan for a wig business.

If you want to start a wig business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your wig business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of wig business you are running and the status. For example, are you a startup, do you have a wig business that you would like to grow, or are you operating a chain of wig businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the wig industry.
• Discuss the type of wig business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of wig business you are operating.

For example, you might specialize in one of the following types of wig businesses:

• Brick and mortar : this type of wig store is located in a brick and mortar retail location and sells a variety of wigs.
• Online: this type of wig store is found online and does not have a physical retail presence.
• Custom: this type of wig store makes custom wigs for a customer’s specific need.
• Show wigs : this type of wig store specializes in providing eccentric, bright, and show stopping wigs to be worn for performances and shows.

In addition to explaining the type of wig business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, the number of customers with positive reviews, reaching X number of customers served, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the wig industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the wig industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your wig business plan:

• How big is the wig industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your wig business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your wig business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals of all ages, performers, cancer patients, and the elderly.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of wig business you operate. Clearly, cancer patients would respond to different marketing promotions than performers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other wig businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes big box retailers, hair stylists, or theater production companies. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of wig business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide custom made wigs?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a wig business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of wig company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide tupets, weaves, or hair extensions?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your wig company. Document where your company is situated and mention how the site will impact your success. For example, is your wig business located in a busy retail district, a mall, a standalone shop, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your wig marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your wig business, including taking inventory, customer orders and fulfillment, billing customers and/or vendors, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your Xth wig, or when you hope to reach $X in revenue. It could also be when you expect to expand your wig business to a new city.  

Management Team

To demonstrate your wig business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing wig businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a wig business or successfully running a small retail store.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.  

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you sell 5 wigs per day, and/or offer discounts for buying more than one wig? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.  

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your wig business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.  

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a wig business:

• Cost of wig inventory and store supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your retail store location lease or a list of wigs you plan to offer.  

Writing a business plan for your wig business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert and know everything you need about how to start a wig business. You will understand the wig industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful wig business.  

Wig Business Plan FAQs

What is the easiest way to complete my wig business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your wig business plan.

How Do You Start a Wig Business?

Starting a wig business is easy with these 14 steps:

• Choose the Name for Your Wig Business
• Create Your Wig Business Plan
• Choose the Legal Structure for Your Wig Business
• Secure Startup Funding for Your Wig Business (If Needed)
• Secure a Location for Your Business
• Register Your Wig Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Wig Business
• Buy or Lease the Right Wig Business Equipment
• Develop Your Wig Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Wig Business
• Open for Business

Don’t you wish there was a faster, easier way to finish your Wig business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business plan advisors can give you a winning business plan.

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