How to write a Beauty Supply Store Business Plan?

To write a beauty supply store business plan, you should start with an executive summary filled with the company’s overview and products on offer. You should then continue with a complete marketing analysis and plan before highlighting your complete financial plan.

What is a Beauty Supply Store Business Plan?

This plan is required to start or grow an existing beauty supply store business. The plan presents details on your marketing plan and financial projections. It covers all the essential components that may help it to become successful. The plan is then usually presented to investors so that they can give funds and push your business to grow.

What are the main types of beauty supply stores?

There can be both small and large beauty supply stores. However, their success depends on the location, services, and products. For instance, if your store is located in a high-traffic area, you may expect more sales than your competitors. The success of your store depends on the number of people walking into your store. This helps to decide on your potential customers.

What are the main sources of revenue and expenses for a beauty supply store business?

A store’s main source of revenue is the money earned from selling products. The products can be cosmetic items, skin care items, and hair products. The key expenses for a store business are store rent, staff salaries, and the cost of purchasing beauty items.

How do you get funding for your beauty supply store business plan?

The primary sources of funding are bank loans, personal savings, and investors. If you want a loan from a local bank, make sure to present them with your business plan so they can evaluate its potential. Alternatively, many beauty supply stores also get small business loans.

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Beauty Supply Store Business Plan Template

Prepared by:

[Owner.FirstName]

[Owner.LastName]

Executive Summary

[Owner.Company] is a soon-to-be-launched beauty supply store that aims to provide high-quality and reasonably priced beauty products to its customers. We sell product lines that meet people's beauty and skin care needs.

Products and Services:

[Owner.Company] aims to provide competitively priced and high-quality beauty supplies to various customers located within our area. We have haircare and skincare products on offer. Moreover, there are nail products and cosmetics available too.

[Owner.Company] shall also sell fragrances, body care items, and all the limited branded items that are otherwise hard to find.

Customer Focus

[Owner.Company] primarily will serve (men/women) of age groups (add age range) looking for beauty products to meet their body needs. These customers live or work close to our possible location.

Here is a breakout of our target customers:

% of customers: (Give percentage)
Average income: (Give income)
Median Age : (Give age)
(Other details about target customers)

Company Overview

Mission Statement:

Our store wants to serve our customers with the best skin care and beauty products. We want to sell them competitively to earn an excellent profit margin.

Company Introduction:

[Owner.Company] is a modern yet well-equipped store with all the basic and advanced beauty and care products. It will be run by [Owner.FirstName][Owner.LastName] with the help of a management team. We aim to launch the store at the end of this year, giving our customers all the products they require to maintain their looks.

Industry Analysis

Industry Overview:

This store is part of the beauty industry, with various brands competing with each other. This is a fast-paced industry where new products are constantly launching. Our store aims to keep up with the pace to offer all the beauty and care products that the rest of the market has available for sale.

Industry Trends:

(Mention the key market trends such as moisturizing creams, tints, and blush ons)

Customer Analysis

Customer Needs:

The key needs of our customers are:

Reasonably priced beauty products
Quality of skincare items
Availability of the latest beauty and care products
Delivery of products on demand
(Add additional needs)

Target Customer Profile:

We will majorly target these customer segments:

Women aged (Age range): (Mention Details)
Men aged (Age range): (Mention Details)

Competitive Analysis

List of competitors:

[Owner.Company] has direct and indirect competitors with their addresses and other details.

(Competitor A)
(Competitor B)
(Competitor C)

Competitive Advantage:

[Owner.Company] has a competitive advantage over its competitors due to the following reasons:

Well-qualified and experienced founder
A disciplined and experienced management team
Excellent location
Flexible opening and closing hours
(Add other advantages)

Marketing Plan

Brand:

[Owner.Company] wants to build a brand that focuses on the following:

Providing competitive prices
Offer high-quality products
Generate monthly profit
(Add any additional focal points)

Promotion Plan:

[Owner.Company] aims to follow the following advertising strategies to promote its products.

Local Publications (Explain How)
Customer Loyalty Programs (Explain How)
Word-of-Mouth (Explain How)
(Add additional promotional strategies)

Operations Plan

Location:

We aim to rent the following site as the location of our store:

[Owner.StreetAddress]

[Owner.City],[Owner.State][Owner.PostalCode]

Operational Timings:

[Owner.Company] will conduct all its operations based on a walk-in basis. It aims to stay open all seven days of the week from 8 am to 10 pm.

To execute its business model, [Owner.Company] should have the right personnel to perform the following tasks:

Floor sales
Product sales
Hiring and training of staff
Administrative functions
Storing and sourcing of products

Management Team

[Owner.Company] is led by [Owner.FirstName][Owner.LastName] who has extensive experience in running and managing a store. [Owner.FirstName][Owner.LastName] also has excellent knowledge of beauty products and stays aware of new beauty and care items.

[Owner.FirstName][Owner.LastName] wishes to hire [CustomerServiceManager.FirstName][CustomerServiceManager.LastName] as their customer service manager. They have (number of years) years of experience in the beauty industry.

Other staff members required are:

Accountant (Part-time or full-time)
Cleaning staff (Number and working hours)
Menial staff (Number and working hours)

Revenue and Cost Drivers

[Owner.Company] aims to earn its revenue from the sale of its beauty products. Similarly, its major costs are rent of the store, maintenance expenses, staff salaries, and marketing expenses.

Funding Requirement:

We require funding of (Amount in dollars) in our initial year to spend on:

Working Capital
Lease Agreement
Hiring of staff
Cost of purchasing beauty and skin care products

Key Assumptions and Forecasts:

Our income statements, balance sheets, and cash flow statements for the next three years are below. All the data collected is based on estimations and predicted inflation rates.

(Share balance sheets, income statements, and cash flow statements)

Signature

MM / DD / YYYY

[Owner.FirstName][Owner.LastName]