Beauty products are no longer something that you use just for special occasions. With the evolution of skincare and makeup, the use of such products has seeped into our everyday lives and made a place for themselves that won’t be replaced anytime soon.
And if you have a good knowledge of beauty and skincare, as well as of managing a supply store then a beauty supply store might be the right choice for you.
If you are planning to start a new beauty supply store business, the first thing you will need is a Cosmetics business plan. Use our sample Clara – Beauty Supply Store Business Plan created using Upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new beauty supply store business, spend as much time as you can reading through some samples of the beauty salon-related business plans.
The global beauty market stood at a market value of 380.2 billion dollars in 2020, and with makeup and skincare becoming a part of people’s daily routine it isn’t about to slow down any time soon.
The primary reason for the increase in demand for beauty products is due to the increase in attention people pay to their skin, hair, and appearance.
This has happened due to a combination of factors including social media, an increase in awareness, and the increasing want for perfection.
Things to Consider Before Writing a Beauty Supply Store Business Plan
Choose the type of store
Beauty supply stores have different types based on the type of products they keep and the type of audience they sell to.
From stores selling high-quality professional products used in spas and salons, hair care, and skincare products to the ones that solely focus on makeup products, a wide variety of stores exist, and they fulfill different purposes.
Hence, it is essential to decide what purpose you want to serve before getting started.
Do your market research
Researching the market, the latest trends, the buying behavior of consumers, the target group for your products is essential to start a beauty supply store.
It is also essential to know what kind of products people prefer, the price they are willing to pay for them, and what is the scope for beauty products in your area.
Choose the right brands for products
Choosing the right brand of products as per your niche and target audience is another important aspect of a beauty supply store. Getting the brand of products that works for your target audience in terms of price and quality is foundational to the success of your store.
Hence, figuring out what brand you’ll offer is necessary. It also helps you issue necessary warnings and precautions if needed.
Have some knowledge about common allergic reactions from makeup products
As the use of makeup has become more frequent, the concern with even minor allergic reactions caused due to makeup has increased as well.
Also, to have satisfied customers it’s important to take care of such details because it affects both your customer experience and reliability.
Chalking out Your Business Plan
All you need is thorough knowledge about the industry, a few tips to set up your business, and a well-written Cosmetics business plan.
Reading sample business plans will give you a good idea of what you’re aiming for. It will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Clara – Beauty Supply Store Business Plan template for you to get a good idea about how a perfect Cosmetics business plan should look like and what details you will need to include in your stunning business plan.
Beauty Supply Store Business Plan Outline
This is the standard Cosmetics business plan outline which will cover all important sections that you should include in your business plan.
- Executive summary
- Problem Definition & Validation
- Short Term (1 -3 Years)
- Long Term (3-5 years)
- Mission statement
- Keys to success
- Financial Highlights
- Units Sold v/s Revenue Chart
- Business overview
- Company Ownership/Legal Entity
- Interior Operating Facilities
- Hours of Operation
- Startup summary
- Products & Services
- Range of Products
- Market Analysis
- Market segmentation
- Market Trends
- Target market
- Target Market Persona
- Competitive Advantage
- SWOT analysis
- Strategy & implementation
- Distribution Strategy
- Marketing and Promotion Programs
- Direct Sales
- Trade Publications
- Trade shows and Lifestyle Exhibitions
- Targeted Online Advertising
- Positioning Statement
- Sales strategy
- Online Marketing Channels
- Offline Marketing Channels
- Pricing strategy
- Operational Plan
- Organization chart
- Management Team
- Personnel Plan
- Hiring plan
- Jane Doe
- Amanda Doe
- John Doe
- Financial plan
- Important Assumptions
- Brake-even Analysis
- Projected Profit and Loss
- Profit Yearly
- Gross Margin Yearly
- Projected Cash Flow
- Projected Balance Sheet
- Business Ratios
After getting started with Upmetrics, you can copy this Cosmetics business plan template into your business plan and modify the required information and download your beauty supply store business plan pdf or doc file.
It’s the fastest and easiest way to start writing your business plan.