business plan make up shop

Writing a Business Plan

While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand. Because every company has a different goal and product or service to offer, there are business plan templates readily available to help you get on the right track. Many of these templates can be adapted for any company. In general, a business plan writing guide will recommend that the following sections be incorporated into your plan.

The executive summary is the first section that business plans open with, but is often the last section to actually be written as it’s the most difficult to write. The executive summary is a summary of the overall plan that highlights the key points and gives the reader an idea of what lies ahead in the document. It should include areas such as the business opportunity, target market, marketing and sales strategy, competition, the summary of the financial plan, staff members and a summary of how the plan will be implemented. This section needs to be extremely clear, concise and engaging as you don’t want the reader to push your hard work aside.

Company Description

The company description follows the executive summary and should cover all the details about the company itself. For example, if you are writing a business plan for an internet café, you would want to include the name of the company, where the café would be located, who the main team members involved are and why, how large the company is, who the target market for the internet cafe is, what type of business structure the café is, such as LLC, sole proprietorship, partnership, or corporation, what the internet café business mission and vision statements are, and what the business’s short-term objectives are.

Services and Products

This is the exciting part of the plan where you get to explain what new and improved services or products you are offering. On top of describing the product or service itself, include in the plan what is currently in the market in this area, what problems there are in this area and how your product is the solution. For example, in a business plan for a food truck, perhaps there are numerous other food trucks in the area, but they are all fast –food style and unhealthy so, you want to introduce fast food that serves only organic and fresh ingredients every day. This is where you can also list your price points and future products or services you anticipate.

Market Analysis

The market analysis section will take time to write and research as a lot of effort and research need to go into it. Here is where you have the opportunity to describe what trends are showing up, what the growth rate in this sector looks like, what the current size of this industry is and who your target audience is. A cleaning business plan, for example, may include how this sector has been growing by 10% every year due to an increase in large businesses being built in the city.

Organization and Management

Marketing and sales are the part of the business plan where you explain how you will attract and retain clients. How are you reaching your target customers and what incentives do you offer that will keep them coming back? For a dry cleaner business plan, perhaps if they refer customers, they will get 10% off their next visit. In addition, you may want to explain what needs to be done in order for the business to be profitable. This is a great way of showing that you are conscious about what clear steps need to be taken to make a business successful.

Financial Projections & Appendix

The financial business plan section can be a tricky one to write as it is based on projections. Usually what is included is the short-term projection, which is a year broken down by month and should include start-up permits, equipment, and licenses that are required. This is followed by a three-year projection broken down by year and many often write a five-year projection, but this does not need to be included in the business plan.

The appendix is the last section and contains all the supporting documents and/or required material. This often includes resumes of those involved in the company, letters of reference, product pictures and credit histories. Keep in mind that your business plan is always in development and should be adjusted regularly as your business grows and changes.

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How to Choose a Phone Plan for Your Business

Every company needs an effective phone plan for their business. It’s important for all your employees to be able to communicate with each other. You also need to ensure that you can take phone calls from clients when they need to reach you. There are many office, VoIP and cell plans available, and your choice depends on what’s best for you. Here’s how to choose the best phone plan for your business.

The Types of Business Plan

If you’re looking for the perfect business phone plan, you need to think about which will benefit your organization most. There are loads to choose from and each have their advantages and disadvantages. It’s essential for businesses to have the best communications systems, because without this you’ll lose potential customers. Many people choose systems based on their convenience, but also look at how effective they are, the costs and if the system is up to date.

With so many options, businesses rarely know where to start. However, your primary goals will enable you to find the best phone plan for your business. Do you have a large team and need a strong internal communications system? Is saving money your primary goal? Here are some business phone plans, and their benefits.

Voice Over Internet Protocol (VoIP)

VoIP is taking over the business world, and many companies are ditching their landline service for the internet-based phone solutions. While making international calls on landlines is expensive, VoIP enables you to call anywhere in the world for no extra cost. Phone calls take place over the internet, and you can reach your employees wherever they are.

There are many VoIP solutions, including basic packages, options for mid-sized businesses and high-end solutions. It’s important to think about which solution is best for your business and avoid any hidden costs associated with high-end solutions. VoIP is great for companies and there is a range of technological benefits you won’t find with other providers. Search online to find the best VoIP providers.

Private Branch Exchange (PBX)

PBX uses hardware to route all calls through the office to and from a central connection. It connects all employees and enables easy transfers. PBX has many benefits, including its cost-effective solutions. Employees can make internal calls without the needs of connecting to an external network. This means that businesses can save money on phone calls, which is especially useful for small companies.

There are automatic capabilities, meaning PBX systems can automatically route calls. Basically, PBX offers an all-in-one solution, but it isn’t as technologically convenient as VoIP solutions. It depends on your needs, but remember PBX systems are best if you use over 12 phone lines. Smaller businesses might find that installing and maintaining a PBX system is too expensive.

Small Businesses

Small businesses have one thing on their mind; money. They need to find cost-effective solutions to grow their business, but not bankrupt them. Most small companies use manual key-systems to route phone calls. As you add more lines, you’ll find a manual system less convenient and harder to manage.

Key systems are great when businesses are starting out, but if your business is growing then it’s best to choose between a PBX or VoIP solution. There are many positives to manual key systems, and providers are combining technology with the systems to make them better for small business owners to maximize their internal and external communications.

Is the price right? That’s what you should be considering. Many phone providers will offer comprehensive packages for both office and cell use. Combining these will save you money in the long-term and enable you to streamline your communication procedure. The more technology you want, the higher the price. You should weigh up the benefits of cost and convenience when making your decision.

Speak to providers and ask them what bundles they offer. You’ll want to supply your employees with cell phones if they travel out of the office regularly. Choosing a phone system doesn’t have to be complicated if you know what you’re looking for and consider your price limits.

Making a Risk Management Plan for Your Business

It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management. These guidelines are for making a risk management plan for your business.

When you start the risk management plan with an executive summary, you’re breaking apart what it will be compromised of into easy to understand chunks. Even though this summary is the project’s high-level overview, the goal is describing the risk management plan’s approach and scope. In doing so, you’re informing all stakeholders regarding what to expect when they’re reviewing these plans so that they can set their expectations appropriately.

Who Are the Stakeholders and What Potential Problems Need Identifying?

During this phase of making the risk management plan, you’re going to need to have a team meeting. Every member of the team must be vocal regarding what they believe could be potential problems or risks. Stakeholders should also be involved in this meeting as well to help you collect ideas regarding what could become a potential risk. All who are participating should look at past projects, what went wrong, what is going wrong in current projects and what everyone hopes to achieve from what they learned from these experiences. During this session, you’ll be creating a sample risk management plan that begins to outline risk management standards and risk management strategies.

Evaluate the Potential Risks Identified

A myriad of internal and external sources can pose as risks including commercial, management and technical, for example. When you’re identifying what these potential risks are and have your list complete, the next step is organizing it according to importance and likelihood. Categorize each risk according to how it could impact your project. For example, does the risk threaten to throw off timelines or budgets? Using a risk breakdown structure is an effective way to help ensure all potential risks are effectively categorized and considered. Use of this risk management plan template keeps everything organized and paints a clear picture of everything you’re identifying.

Assign Ownership and Create Responses

It’s essential to ensure a team member is overseeing each potential risk. That way, they can jump into action should an issue occur. Those who are assigned a risk, as well as the project manager, should work as a team to develop responses before problems arise. That way, if there are issues, the person overseeing the risk can refer to the response that was predetermined.

Have a System for Monitoring

Having effective risk management companies plans includes having a system for monitoring. It’s not wise to develop a security risk management or compliance risk management plan, for example, without having a system for monitoring. What this means is there’s a system for monitoring in place to ensure risk doesn’t occur until the project is finished. In doing so, you’re ensuring no new risks will potentially surface. If one does, like during the IT risk management process, for example, your team will know how to react.

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SAMPLE BUSINESS PLAN FOR COSMETICS BUSINESS.

by brian akampurira

2020, SAMPLE BUSINESS PLAN BY AKAMPURIRA BRIAN

This plan is to set up a cosmetic shop in the name of " Briox Cosmetics Enterprise ", which will be located in Easy View Arcade Garage street Mbarara. The cosmetic shop will be a sole proprietorship owned by Akampurira Brian. I will use startup capital of 52,380,000 Uganda shillings. UGX 34,380,000 will be owners’ equity and the remaining UGX 18,000,000 will be a bank loan which will be secured from centenary bank at 10% interest rate. The key personnel at the cosmetic Enterprise will include Senior manager, buying inputs and overall supervisory work, operations and production staff, sales and marketing staff, skin therapy and hairdressing staff, record keeping and accounting, stock control and direct selling staff The key objective of the cosmetic shop will be to provide fresh quality cosmetics to our clients to enable them improve their general skin beauty, to obtain maximum customer satisfaction through continued quality production, to obtain continuous production and supply of our products to the customers, to create customer loyalty to our products such that they become well pronounced in the customer minds. To achieve our objective, the cosmetic shop will employ strategies such as: Offering quality, body skin lotions, oils and herbal cosmetics that help fight the skin diseases made from fresh fruit and vegetable which are nutritious through adequate research and proper mixture of the lotions, oils and herbal ointments to meet the standard skin contents and characteristics of customers in the market through advertisement by use of sign posts, direct selling and radio stations, offering special incentive to our regular clients, offering our cosmetics at relatively lower prices for market penetration, creating a conducive environment for our clients, employing people who understand the meaning of customer care and meaning of quality by giving them samples for use as a way of expanding our markets especially among the young children, youth and women. All this encompasses our strategies that include, communication strategy, supplier relationship strategy, marketing strategy, competitive strategy and human resource strategy. The vision of the cosmetic shop will be ‘To be the leading suppliers of quality, fresh and health skin booting cosmetics product’ Our mission will be, dedicated at improving the skin health and body look and appearance of our client. "We seek to become the recognized leader in our targeted local and international market for carrying a diverse line of in demand cosmetics including perfumes, makeup, and other accessories that will have a competitive edge towards customer satisfaction and retention at attractive prices. Our major customers will be corporate employees, students, market vendors, tourists and retailers who will be consuming a range of our products including; Perfumes 1st class, Lemon body lotion, Hair relaxer cream, Avocadoes body cream smoother and Hair glow. Our forms/ ways of distribution will include, through Retailers, distributors and wholesalers who will buy and sell in bulk to our final customers which we cannot sell to directly we shall also sell directly to the customers because we have a high customer traffic at our main outlet in Mbarara. We shall as well be using a van that will be leased to distribute to our customers who order in large quantities. In terms of our legal responsibilities, the following taxes apply to our business, sales tax, employees’ income tax, national social security fund and Mbarara Municipal Council Tax and other licenses like trading license, and Uganda National Bureau of Standards license. We shall as well need to the insurance for our business and also carry out other social responsibilities like corporate social responsibility, being environmentally friendly, and ensuring cleanliness of Mbarara town. Our products are costed and priced after comparison with our major competitor’s prices and costing information acquired through market research. We have as well carried out cash flow estimates to ensure that our business does not run out of cash. Our startup capital has been allocated to what we intend to start our business with that is renting building for two months, buying machines for mixing the inputs, Machines, leasing van, buying furniture and fittings, massage equipment, cloths and uniforms and other necessary things to start with including the employee salaries for the first two months. This plan will be effective on 1st January 2018 and that is when my business will begin in Mbarara Easy View Arcade.

Step 1: Conduct Market Research

The first step to starting a cosmetics business is conducting market research. To get the best from market research, you have to consider the overall market size and trends, consumer preferences, and look out for businesses that can be close competitors. Let’s explore these in more detail.

Understand Market Size and Trends

If you want to grow in the cosmetic business and retain your customers, you have to be fully aware of some history behind cosmetic industry trends. According to Grand View Research, the cosmetic industry had a market size that is valued at 262.21 billion dollars in 2020 and is expected to extend further by 4.2% between 2023 – 2030.

Knowing the history behind the cosmetics industry will help you understand what your brand’s place is in the market, and how to develop from there. Understanding market trends can help to make informed decisions on what pattern to adopt for marketing cosmetic products.

Analyze Consumer Preferences

Let’s face it, not everyone likes the same thing. What you may like, another may find unsuitable for their needs. As a cosmetic industry, you have to accurately analyze what your target customers may want, and take their preferences into account when trying to make your product and construct a business plan for cosmetic products.

For example, some people may find several ingredients in a skincare product more helpful for their oily skin, while others may find it too harsh or irritating to their dry skin. Younger people may prefer airtight bottles with better precision, while older people may have no problems with any bottle packaging.

Investigate Competitive Landscape

No matter what industry you find yourself in, competition is stiff. However, competitive landscapes vary across industries, which is why it is important to do your research on the competition.

As a young business, you need to gather information about bigger cosmetic product companies like Nivea, Dove, Gillette, Pantene, and L’Oreal. Also, you can also keep tabs on fast-developing companies like Fenty Beauty. Including this in your cosmetics business plan will help you understand how to beat the competition and come out on top as one of your industry’s leaders.

Step 2: Define Business Concepts and Objectives

A strong and sturdy business concept and cosmetics company business plan will make your objectives more achievable and will hasten your progress. Let’s see this in more detail.

Business Concept

As mentioned earlier, a cosmetics company’s business plan and business concept helps to analyze how valuable your business idea is, how well it will solve a problem, your target audience, and their interest in the problem itself. Doing this helps you understand whether that business idea is worth investing in in the first place.

Here are different business concepts needed for natural, organic, and healthy beauty.

● Natural/Organic Beauty

Natural/organic beauty products are popular among a niched target audience, and they tend to look out for some details when picking their products. Organic beauty business concepts include the production of cosmetic products using only natural or organic ingredients.

Recently, there has been an increase in the number of natural or organic beauty product users. This is why it is important to include organic products in a cosmetic product lineup.

● Luxury/High-end Beauty

Undoubtedly, there are many luxury cosmetic products out there, and they currently dominate the cosmetic industry. Luxury or high-end beauty products need well-detailed business concepts and objectives in order to beat the competition.

Luxury/high-end brands often focus on getting quality, highly-customizable packaging. When you come across this kind of packaging, you’re most likely going to feel a sense of exclusivity and sophistication. In your business plan for cosmetic products, you have to include the cost and pricing for this packaging.

● Healthy Beauty

Cosmetics are made with ingredients that foster healthy skin. Different skin types react to cosmetics differently, but promoting a healthy beauty product will ensure that only the finest healthy ingredient is used on skin care products

Some of the healthy ingredients used in cosmetics are Aloe vera, green tea extract, shea butter, and chamomile. Aloe vera can hydrate the skin and reduce inflammation, shea butter improves the skin’s elasticity with its rich supply of vitamins A and E, and chamomile on the other hand is helpful on sensitive skin to promote better skin health.

Increasing market share and establishing a strong brand identity are key objectives for a cosmetic business’ growth.

● Increase Certain Market Share

One of the most essential objectives is obtaining a substantial portion of the market share. Not surprisingly, larger cosmetic businesses control a good amount of market share. That said, smaller, emerging cosmetic businesses’ primary objectives should be to take away some of this market share from their larger counterparts.

They can do this by improving the quality of their product and being innovative. Instead of focusing on the products of the existing larger cosmetic businesses, adequate research should be carried out to produce a more innovative formula that will yield a better result. This way, smaller businesses can garner the attention of cosmetic lovers and achieve their marketing objectives.

● Establish a Strong Brand Identity

Brand identity lets your customers know who you are, what you bring to the table, and your company’s values and personality. In order to attract your target audience, you need to include plans on how to gradually develop your brand identity into your brand’s business plan.

Brand identity can be established in the form of a unique brand name and logo, design consistency in the brands’ visual or audiovisual materials, and catchy phrases.

● Expand the Product Line

A good cosmetics business plan often includes plans for expansion. If you sell a certain cosmetic product, you will most likely want to branch out and sell other types of cosmetic products. If the brand has mainly been selling skincare products, the brand’s product line can be expanded to include makeup products, hair products, and even fragrances.

For a better marketing result, you can create multiple business plans for different types of products such as a makeup business plan for makeup products, and a skincare business plan for skin care products.

Step 3: Identify Target Customers

Without identifying the kind of customers you want, it’ll be challenging to get sales and attract customers to your brand. Here are these types of target customers in greater detail.

● Beauty Enthusiasts

Beauty enthusiasts are often highly interested in all the best and latest cosmetic and skincare products. Additionally, they are highly interested in the latest beauty trends. These types of people use exclusive and innovative cosmetic application products like rollers. To attract these types of customers, your brand also needs to keep up with these trends.

Luckily, you can find many of these beauty enthusiasts closely following thought leaders in this industry on various social media channels and forums. For these target customers, you may need to include digital and offline marketing campaigns and create a detailed makeup business plan and skincare business plan.

● Budget-Conscious Consumers

Budget-friendly consumers take their money into account when choosing their products. Because these consumers closely track how much they spend on products, they will only consider a particular product if it’s affordable, and fits into their budget.

To get these kinds of people, you have to make sure many of them can comfortably afford your product by leveraging on price strategies. Not surprisingly, these customers shy away from luxurious brands, choosing to purchase multi-purposed products instead.

● Minimalists

Minimalists prefer a simplified skincare and makeup routine. Unlike beauty enthusiasts, they don’t focus on getting the newest cosmetic products. Rather, they choose products with high functionality, allowing them to minimize their expenditure and the number of skincare products they buy.

Minimalists like to live their lives with less clutter, and generally choose to live simpler lifestyles. In the case of cosmetic products, they like to use as few products as possible. So, if you want to attract these types of people, make sure you develop a minimalist makeup business plan and skincare business plan that have these people’s best interests at heart.

Step 4: Conduct a Competitor Analysis

In order to conduct an effective competitor analysis, you have to analyze their product offerings, brand position, pricing strategies, and distribution channels. Let’s see these in more detail.

Analyze Competitors’ Product Offerings

Product offerings help to present a unique value proposition to a consumer. For a business to become successful, it has to include detailed plans on how to present its product’s unique value proposition to its customers. Nivea’s unique value proposition is to protect the skin of the entire family.

Many cosmetic companies offer an array of products that make it hard for new businesses to break into the market and compete. For example, Nivea offers cosmetic products like hair care products, skincare products, and even deodorant for males and females. Analyzing these competitors and their products will make you weigh your options and determine how best to enter the market.

Analyze Competitors’ Brand Position

Brands like Nivea have taken steps to maintain a strong brand positioning. Before getting your business off the ground, make sure you understand your competitors’ position and how much influence they have on the market.

Contrary to popular belief, brand positioning isn’t just slapping catchy tag lines and fancy logos on your web and social media pages. Effective brand positioning will make your brand favorable and valuable to your consumers.

Analyze Competitors’ Pricing Strategies

Strategic pricing is another way to infiltrate the market. If you want to figure out the best pricing, take a quick survey of all your competitors and their pricing.

For example, if Nivea and other big brands’ hair care products are being sold for an average of $50, try to figure out a way to sell your products significantly or slightly lower. This way, you can attract budget-conscious customers who want more for less.

Analyze Competitors’ Distribution Channels

Analyzing distribution channels helps you figure out the best distribution channel for your business.

In addition to traditional distribution channels like wholesaling and retailing, E-commerce has emerged as one of the biggest distribution channels in the beauty industry. If you’re a smaller cosmetic company trying to find its footing, E-commerce is a good way to get orders coming in.

Step 5: Develop Product Line and Brand Strategy

Brand strategy and product lines can make or break your brand. Big brands like Pantene and Dove have solid brand strategies and diverse product lines for inclusivity.

Product lines and breaks strategies involve developing core product lines and seasonal collections, brand storytelling, and collaborations with influencers. Let’s look into these points.

Product Line Strategies

The best product line strategies are creating a core product line and a product line specific to a particular season or holiday period.

● Core Product Line

Your brand is more likely to stand out if it has a core product line. Having this improves your brand’s ability to stand out, and makes your products accessible to more diverse audiences. Collections like the Gold series collection owned by Pantene have become so popular that it has won multiple awards in the cosmetic industry.

● Seasonal Collections

Seasonal collections are exactly what they sound like seasonal. We have different cosmetic care needs during various seasons, so it’s essential for your brand to take that into account. Also, during periods like Christmas and Easter, it’s important to have collections in order to divert attention toward your brand and increase sales.

Brand Strategies

Telling your brand story and collaborating with thought leaders and influencers in your industry are amazing ways to drive your business’ growth and infuse some personality.

● Tell the Brand Story

Every brand has a story. Brands have missions, goals, and visions peculiar to them that drive them forward, and communicating this mission to your audience will boost your customer acquisition and retention. For example, Nivea is now a household name, as it has sold itself as a family-oriented cosmetic care company.

● Collaborations with Influencers

Influencers will always be able to drive customers to patronize your brand, and it’s important to include them in your cosmetics business plan. Not only do they bring customers, but they put your brand in the cosmetic industry’s limelight and make them favorable to your desired customers.

Step 6: Define Marketing and Sales Strategies

Marketing and sales is another essential part of a successful skincare business plan. Now, digital marketing, retail partnerships, and advertising have proven to be the most effective ways to promote your brand. Here are the facts:

Digital Marketing

Due to the integration of technology and, specifically, the internet, into the cosmetic industry, business has booked like never before. Search engines and social media channels like Facebook, Twitter, and Instagram can create massive awareness for your brand and also enable you to create and maintain a positive relationship with your customers.

Retail Partnerships

Wholesale and retail partnerships will always remain powerful ways to get new customers fast. For increased reach, you can reach out to select retail stores within and outside your area. More often than not, these businesses are open to opportunities that will make them more money.

Also, retail partnerships help with your brand positioning and improve customers’ trust in your brand. For instance, there is a higher chance of selling a cosmetics product if a retailer talks to the customer about the product.

Online and Offline Advertising

Advertising has become a highly extreme marketing tool, and it is now used by large and small cosmetic brands alike.

Offline advertising involves guerilla marketing campaigns, using billboards, flyers, posters, and so on. On the other hand, online advertising involves running ads on search engines and social media. Make sure to include a good blend of both into your skincare business plan and marketing efforts.

Step 7: Outline Operational and Plans

Without plans for operations, a business plan is as good as useless. Supply chain management and quality control are important factors to consider when making plans for operation. Here are these factors in more detail.

Supply Chain Management

Supply chain management is the management of the flow of goods, data, services, and finances related to a particular business, from the state of manufacture to the state of consumer consumption.

If you want good customer loyalty and avocation on a cosmetic product, you have to make this process as smooth and quality as possible. Additionally, efficient supply chain management saves costs and hastens the delivery process to the final consumer.

Quality Control

Quality control is a set of procedures that your product will be subjected to in order to ensure that it meets the criteria for quality. In order to avoid your brand putting out inconsistent quality, you will most likely face a lot of customer satisfaction issues that you have to meet.

Quality standards have been put in place in the cosmetic industry, starting from ingredient selection which should strictly follow the INCI (International Nomenclature of Cosmetic Ingredients) list of approved ingredients.

Also, microbiological testing is carried out on cosmetic products to ensure that they are not contaminated, and are not harmful to cosmetics users.

Step 8: Outline Financial Plans

Financial planning is the backbone of any business plan. Creating a cash flow forecast and a profitability analysis is key to your business’s growth and profitability. Let’s take a look at these factors.

Create a Cash Flow Forecast

Cash flow forecasts typically predict a company’s future financial position; a company’s cash flow involves receivables and expected payments from various sources. Cash flow also involves money from future sales of assets, grants, bills, and miscellaneous expenses.

That said, a cosmetics company can create a cash flow forecast to track how much the business is estimated to spend in the future. Doing this will help to plan for times when the company’s low on cash.

Profitability Analysis

Profitability analysis is the calculation and analysis of the profits of a business. The cosmetic industry has a different net profit margin that is affected by the company size, location of the business, availability of competitors, and the business strategy used. All these are determining factors in deciding on the cost of a product, and the profit that can be gotten from the product.

Customize Your Ideal Cosmetic Bottle Packaging

One of the trends in cosmetics involves developing an ideal bottle packaging that speaks for your brand. These trends revolve around making eco-friendly packaging and maintaining thoughtful pre-sale and post-sale services.

Eco-Friendly Cosmetic Packaging Materials

Eco-friendly cosmetic packaging is becoming increasingly common, and many customers now look out for this. Luckily, Cosmopacks have created highly customizable packaging for brands worldwide using bamboo, Post-consumer recycled plastics, glass, and bioplastics.

Our list of cosmetic packaging includes:

Cosmetic bottle
Cosmetic jars
Cosmetic tubes
Makeup packaging
Recycled cosmetic bottle

Thoughtful Pre-Sale and Post-Sale Service

We offer thoughtful pre-sale and post-sale services that include efficient consultation and communication, printing and sampling, production and warehousing, and inspection and shipment of all our packaging products to our customer’s desired locations.

Creating a skincare business plan can seem like a herculean task, but taking the time to add these details above can make all the difference. Effective marketing and customer service, competitor analysis, cosmetic packaging plans, operational plans, and market research are all integral to your brand’s success in the short and long term.

Cosmopacks offers amazing, highly customizable bottle packaging for brands worldwide. Their objective is to find the best way to reflect your brand’s identity by creating tailored packaging options and eco-friendly packaging.

Get in touch with us by visiting our website or reaching out to us through our various helpline channels.

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From Idea to Reality: How to Start a Cosmetic Business from Scratch

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Cosmetic Business Plan Template

Written by Dave Lavinsky

Cosmetic Business Plan

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

If you’re unfamiliar with creating a cosmetic 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 cosmetic business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your cosmetic 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

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

Sources of Funding for Cosmetic Businesses

With regards to funding, the main sources of funding for a cosmetic 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 cosmetic companies.

How to Write a Business Plan for a Cosmetic Business

If you want to start a cosmetic 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 cosmetic 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 cosmetic business you are running and the status. For example, are you a startup, do you have a cosmetic business that you would like to grow, or are you operating a chain of cosmetic businesses?

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

Give a brief overview of the cosmetic industry.
Discuss the type of cosmetic 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 cosmetic business you are operating.

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

Niche market cosmetics: This type of cosmetic business specializes in one particular segment of cosmetics. For instance, a niche cosmetic business could sell only fragrance-free products, all vegan products, or gluten free products.
High-end cosmetics: This type of cosmetic business develops and sells premium make-up and skin care products.
Kids cosmetics: This type of cosmetic business specializes in producing inexpensive play-makeup products for children.
Beauty blogger/influencer: This type of cosmetic business involves trying out products from different types of cosmetic brands and providing tutorials, reviews, and other helpful information for people who may be interested in the products. Usually, beauty companies will pay the blogger/influencer to sample or endorse their products.
Make-up Artist: This type of cosmetic business involves providing make-up services for special occasions like weddings or graduation ceremonies.

In addition to explaining the type of cosmetic 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 products sold, and reaching $X amount in revenue, 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 cosmetic industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the cosmetic 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 cosmetic business plan:

How big is the cosmetic 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 cosmetic 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 cosmetic business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of cosmetic business you operate. Clearly, individuals would respond to different marketing promotions than corporations, 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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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 cosmetic businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes mass market cosmetic brands and retailers, as well as secondhand cosmetic retailers. 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 cosmetic 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 make it easier for customers to acquire your products?
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 cosmetic business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of cosmetic company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide premium make-up, skin care products, or esthetician services?

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 cosmetic company. Document where your company is situated and mention how the site will impact your success. For example, is your cosmetic business located in a busy retail district, a business district, a standalone store, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your cosmetic 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 cosmetic business, including answering calls, stocking shelves, greeting customers, and collecting payments, etc.

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

Management Team

To demonstrate your cosmetic 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 cosmetic 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 cosmetic business or successfully running a small salon.

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 expect to serve 20-30 customers per day, and will each customer purchase 1-5 items on average? 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 cosmetic 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 cosmetic business:

Cost of equipment and 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 office location lease or photos of happy customers using your products.

Writing a business plan for your cosmetic business is a worthwhile endeavor. If you follow the template above, you will be able to prepare a winning beauty product business plan, makeup business plan or a business plan for a cosmetic company. You will understand the cosmetic industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful cosmetic business.

Cosmetic Business Plan FAQs

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

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

How Do You Start a Cosmetic Business?

Starting a cosmetic business is easy with these 14 steps:

Choose the Name for Your Cosmetic Business
Create Your Cosmetic Business Plan
Choose the Legal Structure for Your Cosmetic Business
Secure Startup Funding for Cosmetic Business (If Needed)
Secure a Location for Your Business
Register Your Cosmetic 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 Cosmetic Business
Buy or Lease the Right Cosmetic Business Equipment
Develop Your Cosmetic Business Marketing Materials
Purchase and Setup the Software Needed to Run Your Cosmetic Business
Open for Business

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

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Cosmetic Business Plan Template

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

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Online Cosmetic Store Business Plan

Retail , Startup , Business Plan , Browse by Categories , Browse by Industry , Retail Business Plan

Crafted by The Oak Business Consultant, our Online Cosmetic Store Business Plan template is designed to aid startups and businesses in securing investment or loans. Combining thorough Market and Industry Analysis, we address the needs of our Target Market and bridge the gap in the online cosmetics sphere for high-quality, affordable products. The template details an effective Marketing Strategy, focusing on differentiation and customer engagement. Our Financial Plan offers a comprehensive perspective on budgeting, pricing, promotion tactics, and potential revenue, laying a solid financial groundwork for your e-commerce venture. With these integral components, this template provides a strategic roadmap for success in the competitive online cosmetics industry.

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This Product: Online Cosmetic Store Business Plan - $ 200
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Table of Contents

The market size for Online Cosmetic Store products is growing at a fast pace. There is an ever-increasing requirement for all types of branded or generic cosmetic products from all sections of the target customers. The demand for premium quality cosmetics from the mediocre class residing in underdeveloped countries is even greater.

The cosmetics market includes a wide variety of products that are used for various purposes by several businesses. The variety of products includes anti-aging clinics, hair salons, beauty salons, cosmetic stores, etc. You need a professionally written business plan to start an Online Cosmetic Store business or expand your current one.

What is an Online Cosmetic Store?

An online cosmetic store is a business model offering customers a wide range of beauty and skincare products through a digital platform. Unlike brick-and-mortar stores, these virtual stores can cater to customers nationwide, creating a vast market reach. Online cosmetic stores can range from offering high-end luxury brands to more affordable beauty products, ensuring an appeal to a broad customer base.

In the era of digital retail, more and more beauty enthusiasts are turning towards online cosmetic stores to meet their skincare and makeup needs. The convenience of shopping from home, coupled with the extensive selection and availability of products, makes online cosmetic stores a lucrative business venture.

Business Plan Overview

Creating a comprehensive business plan is crucial to launching a successful online cosmetic store. The business plan is not just a document but a strategic blueprint that outlines your business’s path, including how it will overcome the challenges ahead. This plan also communicates your vision to potential investors, and it includes a detailed description of your business model, target market, marketing plan, and financial plan.

The business plan should give a bird’s eye view of your cosmetic business, explaining what you plan to sell, your target customers, how you plan to reach and retain these customers, and how your business will be profitable in the long run.

Target Market

Understanding your target market is crucial in launching an online cosmetic store. Your target market comprises the individuals who are most likely to purchase your products. Knowing who they are can help you tailor your product range, marketing strategies, and customer service to their specific needs and preferences.

You might be targeting busy professionals who value convenience, or your target market is beauty enthusiasts who are always looking for the latest trends and products. Understanding your target market will allow you to design a customer experience that fits their needs and wants regardless of who they are.

Identifying the Target Audience

Identifying the target audience for your online cosmetic store involves understanding who your potential customers are, their preferences, their buying habits, and their cosmetic needs. To do this, you can research market trends and customer behavior in the cosmetics industry or conduct surveys and polls to gather direct feedback.

Your target audience may be varied, consisting of different customer segments. For instance, you may cater to customers looking for eco-friendly cosmetics, those who prefer luxury brands, or those who seek affordable beauty solutions. It’s important to be clear about your target audience, as your marketing efforts and product selection will largely depend on this.

Defining Your Brand Identity

Your brand identity is what sets your online cosmetic store apart from competitors. It involves your store’s name, logo, color scheme, and overall image, but it’s more than just visual aspects. It’s about your brand’s values and the promise you make to your customers.

Perhaps your brand stands for luxury and exclusivity, or maybe you’re all about affordable and cruelty-free beauty solutions. Whatever it is, make sure it resonates with your target customers and is consistently reflected across all aspects of your business – from your website design to your marketing campaigns and customer service.

Product Range and Pricing Strategy

The product range of your online cosmetic store is essentially the variety of products you offer to your customers. It could include a wide range of beauty and skincare products, from foundations and lipsticks to cleansers and moisturizers. When deciding on your product range, it’s vital to consider your target customers’ preferences and needs. Also, consider offering products that are in demand and trending in the market.

Your pricing strategy, on the other hand, determines how much you charge for your products. It should account for costs such as procurement, shipping, and overheads while also considering what your target customers are willing to pay. A well-thought-out pricing strategy can boost your profitability while maintaining customer satisfaction.

Developing a Range of Products

Developing a range of products for your online cosmetic store involves selecting products that will appeal to your target customers and meet their beauty needs. You could choose to stock a variety of brands, or perhaps you’re planning to launch your own line of cosmetics.

When developing your range, consider the different types of customers you aim to serve. For example, if you’re targeting beauty enthusiasts who follow the latest trends, make sure you’re offering the newest and most popular products. If you’re serving customers who value natural and organic products, ensure that these make up a significant portion of your range.

Establishing Pricing for Cosmetics Products

You need to consider several factors when establishing pricing for your cosmetics products. First, you should consider the cost of purchasing or producing the product and other operational costs, such as shipping and storage. It’s also important to consider the price points of similar products in the market to ensure you’re competitively priced.

You also need to take into account your target customers’ willingness to pay. What price range are they comfortable with? Understanding this will help you set prices that cover your costs and resonate with your customers, leading to increased sales and profits.

Market Analysis

Conducting a market analysis is an essential step in your business planning process. This analysis involves studying the cosmetics industry’s current state, understanding the competitive landscape, and identifying opportunities and threats.

Your market analysis should look at trends in the cosmetics industry, such as popular products or shifts in consumer behavior. Additionally, analyzing your competition will give you insights into their business models, marketing strategies, and what makes them successful.

The aim of the market analysis is to identify gaps in the market that your online cosmetic store can fill, giving you a competitive advantage. It also informs your business decisions and strategies, making it an invaluable part of your business plan.

Industry Analysis

Industry analysis involves examining the cosmetic industry’s macro and microeconomic factors that can impact your business. This includes trends in the industry, such as rising demand for organic or cruelty-free products, and larger societal changes, like increasing focus on self-care and wellness.

This analysis should also look at the competitive landscape. Who are the major players in the industry? What do they do well, and where do they fall short? This knowledge will allow you to differentiate your online cosmetic store and carve out your own space in the industry.

Financial Plan and Budgeting

A crucial part of your business plan is your financial plan. This plan outlines your business’s financial needs, the sources of your funds, your projected revenue, and your anticipated expenses.

Creating a budget helps you allocate resources efficiently. It includes costs for procuring products, operating the online platform, shipping and delivery, marketing and advertising, among others. You’ll also need to plan for contingencies and unexpected costs.

The financial plan also includes your revenue forecast. Based on your pricing strategy and projected sales, this estimate allows you to gauge your business’s profitability.

Forecasting Revenue and Profit Margin

Forecasting revenue and profit margins for your online cosmetic store involves estimating the sales you expect to generate and the profit you anticipate after covering your costs.

Your revenue forecast is based on the price of your products and the volume of sales you expect to make. Consider factors like the size of your target market, the popularity of the products you’re selling, and the effectiveness of your marketing strategies.

Your profit margin, on the other hand, is what remains after you’ve deducted all costs associated with running your business. It’s a crucial indicator of your business’s financial health and sustainability.

Calculating Expenditure on Supplies, Resources, and Advertising Strategies

When calculating expenditures, you need to consider various costs associated with running your online cosmetic store. This includes the cost of supplies, i.e., the products you’ll be selling, as well as resources like packaging and shipping materials.

You should also consider the cost of advertising strategies. Effective marketing is key to reaching your target customers and convincing them to choose your store over competitors. Whether you’re using social media ads, email marketing, or search engine optimization, you need to factor these costs into your budget.

Marketing and Promotion Strategies

In today’s digital era, marketing and promotion are vital to the success of your online cosmetic store. Effective marketing strategies help you reach your target customers, create awareness about your brand, and ultimately drive sales.

Digital marketing channels, such as social media, email marketing, and content marketing, are effective ways to reach and engage your audience. Using these platforms, you can showcase your product range, share customer reviews, and even provide beauty tips and tutorials to build a relationship with your audience.

You should also consider promotional strategies like discounts, rewards programs, and giveaways to incentivize purchases and attract new customers.

Utilizing Digital Platforms to Reach Potential Customers

Digital platforms offer a variety of ways to reach potential customers for your online cosmetic store. Social media platforms, such as Instagram and Facebook, are particularly effective for businesses in the beauty industry. They allow you to showcase your products visually appealingly, engage with your audience, and even sell directly through the platform.

Your website is also a crucial digital platform. It’s not just a place to sell your products; it’s a space where you can convey your brand identity, engage with your customers through blog posts and tutorials, and provide personalized customer service.

Using Social Media to Promote Your Business

Social media is a powerful tool for promoting your online cosmetic store. Platforms like Instagram, Facebook, and Pinterest allow you to reach a large audience and engage with them in a personal way.

You can use these platforms to showcase your products, announce new arrivals, run promotional campaigns, and share content your audience finds interesting and useful. User-generated content, like customer reviews and photos, can also be shared on your social media profiles to build trust and encourage more sales.

Creating Content to Engage with Customers

Content creation is an effective way to engage with customers and build a loyal customer base for your online cosmetic store. This could involve creating blog posts about beauty tips and product reviews, tutorials on how to use your products or even behind-the-scenes looks at your business.

In setting up your online cosmetics store, it’s vital to remember that your customers are the heart of your business. Providing them with a seamless shopping experience, top-quality products, and exceptional customer service can turn first-time buyers into repeat customers. Implementing a loyalty program can also incentivize repeat purchases and foster customer loyalty.

The cosmetics industry is a highly competitive market. Defining a unique brand identity is key to stand out from the crowd. Your brand is more than just your logo and tagline. It’s what people think of when they hear your business name. It encompasses your business values, your promise to your customers, and the emotions your brand evokes.

In conclusion, setting up an online cosmetics store presents a promising business opportunity in a thriving industry. From trending beauty products to essential skincare items, offering a wide variety of cosmetic products can cater to diverse customer needs. Your business strategy should be dynamic, keeping up with beauty trends and continually adapting to market changes. A detailed business plan will serve as your strategic roadmap and help secure funding from sources such as a bank loan or personal savings. It’s important to monitor cash flow carefully and to reinvest in the business wisely to support growth and expansion. Always remember, successful business ideas are those that solve a problem or meet a need, so listen to your customers and let them guide your product development and business strategy.

The cosmetics industry encompasses various businesses, including the online perfume shop and other similar businesses. Case Study on the impact of the retail industry on the economy explores how this sector influences economic growth, employment rates, and consumer spending behavior. For more details, click here .

Testimonial

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6 reviews for Online Cosmetic Store Business Plan

Scott – December 12, 2021

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Layla Adams – September 28, 2022

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This Online Cosmetic Store Business Plan template is a catalyst for success. It’s a powerful tool that has transformed my business journey. With its guidance, I’ve set clear goals, devised winning strategies, and surpassed my competition.

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Cosmetics Business Plan for New Entrepreneurs

A cosmetics business plan is a document that outlines the company’s goals, objectives, and strategies for success. Thus, it can help you to lay out your plans and target audience before you start your business.

A cosmetic business plan includes:

Company Overview
Industry Analysis
Product Description
Marketing Plan
Operations Plan
Financial Projections
Organization and Management
Future Goals

How to Create a Cosmetic Business Plan?

1. company overview .

Company Overview is an introductory section in the Cosmetic Business Plan.

It provides a snapshot of the company's current status.

A Company Overview should include:

Company name, address, phone number, email address
CEO name, title, and contact information
Company's mission statement or purpose
Company's product or service description
List of the company's key employees
Legal Business Structure ( Private Limited Company Registration , One Person Company, Limited Liability Partnership, Sole Proprietorship or Partnership)

The Company Overview should not be longer than two pages.

This section should be brief, but it should include all the necessary information to provide an understanding of the business.

It should not include any confidential information or sensitive data about the company.

Also, it is important to use a formal tone when writing about your company because it will help to establish credibility and professionalism.

2. Industry Analysis

Industry analysis is a research-based process of identifying and understanding the forces that affect an organization’s success.

It is a process of figuring out the strengths and weaknesses of an industry, its opportunities, threats and competitors.

The following are some of the questions you should be able to answer in your industry analysis: -

Who are your competitors?
What is your competitive advantage?
What are the current trends in your industry?
What factors will influence the future of your industry?
What are the key drivers of change?

Potential of the Cosmetic Industry in India

The cosmetic industry is doing quite well currently. It is estimated to be at USD 24.53 Billion in 2022 and expected to reach USD 33.33 Billion by 2027 growing at a 6.32% CAGR .

3. Product Description

The product list and the description of the products are the two most necessary aspects of a cosmetic business plan.

The product list is a detailed list of all the products that will be available at the store.

The description of each product should be detailed enough so that it is easy to know what the customers are buying.

For example, if you are selling lipstick, include the brand's list, shades, prices, quality, organic or non-organic, side effects, benefits, purpose etc in the description.

4. Marketing Plan

The marketing plan is where you outline your company’s marketing strategies and tactics.

To build a successful marketing strategy, you must understand why you are creating it in the first place.

It includes branding, product positioning, pricing strategy, distribution channels, and promotional activities.

Also, you must know where your target audience is most active.

For example, if it is social media, you can try approaching your target niche through Content to Commerce Strategy .

Also, here are some tips on how to write a marketing plan for your cosmetic business:

Define your target market
Identify what they want
Identify what they need
Determine how much they are willing to spend
Define what you can offer them
Define when, where and how often you can offer it to them
Determine who is most likely to buy from you
Get feedback from them about your product or service

5. Operations Plan

The Operations Plan is a section of the Cosmetic Business Plan that discusses how the company will make, market and distribute its products .

It should include discussions on:

Manufacturing Process
Stock Requirements
Personnel Requirements
Costing Process and Strategy
Distribution Channel
Quality Control Plan
Customer Service Plan
Packaging and Labeling Process
Warehousing System
Personnel management and Labor Requirements

The operations plan is a critical component of a cosmetic business plan because it details how the company will be operating on a day-to-day basis.

6. Funds Planning and Financial Projections

This part will include the estimated investment you will require for the cosmetic business. After that, you will decide how you are going to use that funds. For this purpose, you must also know the cosmetics profit margin to have a more accurate estimate.

Also, include the list of your investors and how much they are investing in your cosmetic business.

Your potential investors could be:

Family or Friends
Partnership Investment
Angel Investors
Venture Capitalists
Business Bank Loans
Private Equity Loans

Financial projections show the potential for growth and provide a clear picture of what the company expects to happen in the future.

They outline the expected revenues and expenses for a given period. It is used for planning purposes and to determine whether a business is successful or not.

Financial projections can be done in different ways, from simple to complex.

The most popular way is to base it on past performance and make assumptions about future performance.

These assumptions are based on market research, industry trends, and the company’s strategy.

7. Organization and Management

There are many ways to organize and manage a cosmetic business.

One of the most common ways is to divide the company into three departments: Production, Sales, and Marketing.

The production department is responsible for manufacturing products that are sold by the company.
The Sales department is in charge of selling products to customers.
The marketing department manages all marketing activities which includes advertising, promotions, and public relations.

Thus, elaborate in your business plan how you will divide the teams, the qualification requirements of each person and what will be the authorities and responsibilities of the teams.

The cosmetic industry is a competitive market with many different companies vying for the same customers.

The success of any cosmetic business is dependent on the organization and management it implements .

8. Future Goals

The future goals should be realistic and achievable in your Cosmetics Business Plan. They should be written in a way that will motivate the employees to work towards them.

The future goals should also be written in a way that will allow the company to keep up with the changing needs of their customers.

This can be done by keeping an eye on customer feedback and industry trends.

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Cosmetics Store Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Beauty Care Industry » Beauty Supply Store

Are you about starting a cosmetic retail shop? If YES, here is a complete sample cosmetics store business plan template & feasibility report you can use for FREE .

The cosmetics business is a trade that requires little or no technical skills . It is part of the businesses whose skills you can pick – up very easily from books or from online video tutorials at no cost. As such, you can open a cosmetics store in your neighborhood.

Without a shadow of doubt, a cosmetics and beauty store business is indeed a profitable business because it is a fact that people all over the world make use of cosmetics, perfumes, toiletries and personal grooming products. The running cost for this type of business is pretty low and if you are able to secure a strategic high traffic location or a good shop in a shopping mall.

You can be rest assured to rake in good returns from your cosmetics and beauty store especially if it is well – stocked with cosmetics, perfumes, toiletries and personal grooming products from various manufacturers in the united states, France, Italy and other countries of the world.

A Sample Cosmetics Store Business Plan Template

1. industry overview.

A cosmetic, beauty and fragrance store is a retail outlet where different cosmetics, perfumes, toiletries and personal grooming products et al are sold. Businesses in this line of business include beauty supply stores, specialty cosmetics stores and fragrance stores et al

Starting a cosmetic, beauty and fragrance store is a very easy business to start and it is not so capital intensive- especially if you choose to start on a small scale in a small community. Getting the right brands that people want to buy and good stock keeping records are the secrets of running a retail business such as cosmetics, beauty and fragrance store.

In recent times, it has been observed that the Cosmetics, Beauty and Fragrance Stores industry shows a moderate level of market share concentration, with the leading brands (L Brands, Sephora, Sally Beauty Holdings Inc. and Ulta Salon, Cosmetics and Fragrances Inc.) accounting for over half of the available market share in the United States of America.

Industry concentration has increased in recent years due to rapidly increasing demand for specialty beauty retailers like Sephora and Ulta Salon , Cosmetics and Fragrances Inc. Going forward, the industry concentration is projected to continue increasing over the next five years as consumer-spending levels rise and people turn to well-known, trusted stores for their fragrance, beauty and cosmetics needs.

The Beauty, Cosmetics & Fragrance Stores Industry is a thriving sector of the economy of the United States, United Kingdom, France, Italy, Nigeria and Canada and in most countries of the world. Statistics has it that in the United States of America alone.

The Beauty, Cosmetics & Fragrance Stores Industry generates a whooping sum of well over $21 billion annually from more than 91,236 registered fast Beauty, Cosmetics & Fragrance Stores scattered all around the United States of America. The industry is responsible for the employment of well over 230,572 people.

Experts project the cosmetics industry to grow at a 4.7 percent annual rate. L Brands, Sephora, Sally Beauty Holdings Inc. and Ulta Salon, Cosmetics and Fragrances Inc. are the leaders in The Beauty, Cosmetics & Fragrance Stores Industry; they have the lion market share in the industry.

No doubt, expansive product selections and skilled employees have driven revenue for the Cosmetics, Beauty and Fragrance Stores industries.

So also with the increase in youth-targeted cosmetics, the expansion of male-specific products and of course the reformulation of anti – aging products have given specialty beauty stores a new collection of cosmetics, beauty and fragrance products to offer customers.

Going forward, per capita disposable income will continue to rise and the revenue generated from this industry will also enjoy positive growth. If you are contemplating to start your own cosmetics, beauty and fragrance store business in the United States, you should endeavor to carry out a thorough market survey and feasibility studies .

Despite the fact that this line of business is a thriving and profitable venture, if you get some key factors wrong before starting your own cosmetics, beauty and fragrance store business, then you are likely going to struggle to stay afloat.

But over and above, cosmetics, beauty and fragrance store business is a thriving and profitable business especially if you are creative and ready to take on the available market within the location where your business.

2. Executive Summary

Spotless Cosmetics, Beauty & Fragrance Stores is a standard and licensed cosmetics, beauty and fragrance store business that will be based in Carson City – Nevada, USA.

We have been able to secure a corner piece property (store facility) where we intend to launch our first cosmetics, beauty and fragrance store before venturing out to opening our store outlets cum franchise in strategic locations all around Nevada and key cities in the United State of America.

Our business goal as a standard and licensed cosmetics, beauty and fragrance store business is to become the number one choice of residence in the whole of the communities where we intend opening our stores.

We are set to retail a wide range of Hair care and shower products , cosmetics, skin care products, fragrances, nail care products, deodorant and shaving products, sun care, baby care and other related product set al from different manufacturers both from the United States of America and from other countries.

We have been able to secure permits from all relevant departments in the State of Nevada to run the business. Spotless Cosmetics, Beauty & Fragrance Stores is set to redefine how neighborhood based cosmetics, beauty and fragrance store business should be run, not just in Carson City – Nevada, but also in the whole of the United States of America.

This is why we have put plans in place for continuous training of all our store keepers and other back office staff members at regular interval. No doubt the demand for hair care and shower products, cosmetics, skin care products, fragrances, nail care products, deodorant and shaving products, sun care, baby care and other related products is not going to plummet any time soon.

Which is why we have put plans in place to continue to explore all available market around the communities where we intend opening our chains of stores. In the nearest future, we will ensure that we create a wide range of distribution channels via franchising.

3. Our Products and Services

At Spotless Cosmetics, Beauty & Fragrance Stores we will be involved in retailing cosmetics, retailing perfumes, retailing toiletries, and retailing personal grooming products et al from different manufacturers both from the United States of America and from other countries.

Our intention to start Spotless Cosmetics, Beauty & Fragrance Stores is to maximize profit from the cosmetics, beauty and fragrance stores retailing industry and we will do all that is permitted by the law in the US to achieve our corporate aim and ambition. Here are the products that will be found in our stores;

Hair care and shower products
Skin care products
Nail care products
Deodorant and shaving products
Sun care, baby care and other products

4. Our Mission and Vision Statement

Our vision as a standard cosmetic, beauty and fragrance store business is to become the number one choice in the whole of Carson City and also to be amongst the top 2leading cosmetics, beauty and fragrance stores in the State of Nevada before our 5 th anniversary.
Our mission is to build a highly successful, profitable all round business; a cosmetic, beauty and fragrance store business that will grow from one store to chains of stores in different locations all around Nevada and other key cities in the United States of America.
We want to become a one stop cosmetics, beauty and fragrance shop.

Our Business Structure

We are aware that the success of any business depends on the foundation on which the business is built on, which is why we have decided to build our cosmetics, beauty and fragrance store business on the right business foundation.

As a matter of fact, we are set out to build a cosmetics, beauty and fragrance store business that will favorably compete with some of the leading brand in the industry such as L Brands, Sephora, Sally Beauty Holdings Inc. and Ulta Salon, Cosmetics and Fragrances Inc. in the United States of America and Canada.

We want to build a business of dedicated workforce who will go all the way to ensure that our customers are satisfied. In other to achieve this, we aware that it takes a business with the right employees and structure to achieve all what we have set to achieve.

Which is why will be putting structures and standard operating processes in place that will help us meet our clients demand and run the business on autopilot. The success of our cosmetics, beauty and fragrance store business will be anchored on the team not on any individual.

With the nature of cosmetics, beauty and fragrance store business we intend running and the plan to open chains of stores in various locations all around Nevada and key cities in the US, we are only expected to employ more than it is required to run a conventional cosmetics, beauty and fragrance store business. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

Chief Executive Officer (Owner)
Store Manager
Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Accountants / Cashiers
Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – Owner:

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.
Defining job positions for recruitment and managing interviewing process
Carrying 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.

Store Manager:

Responsible for managing the daily activities in the store
Ensures that proper records of goods are kept and our racks and warehouse does not run out of products
Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
Interfaces with third – party suppliers (vendors)
Controls goods distribution and supply inventory
Supervises the workforce in the cosmetics, beauty and fragrance store sales floor.
Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
Helps to ensure consistent quality of cosmetics, beauty and fragrance products on our rack
Responsible for the purchase of goods and products 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 to increase sales and growth for the company

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

Sales Girls and Sales Boys

Sells our cosmetics, beauty and fragrance products to our customers
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
Responsible for cleaning the store facility at all times
Ensures that toiletries and supplies don’t run out of stock
Cleans both the interior and exterior of the store facility
Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Because of our drive for excellence when it comes to running a standard cosmetics, beauty and fragrance store business, we were able to engage some of the finest business consultants in Carson City – Nevada to look through our business concept.

Together we were able to critically examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard cosmetics, beauty and fragrance store business that can compete favorably with leading brand such as L Brands, Sephora, Sally Beauty Holdings Inc. and Ulta Salon, Cosmetics and Fragrances Inc. in the United States of America and Canada.

In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Carson City – Nevada and also in other cities that we intend opening our chains of stores. Here is a of what we got from the critically conducted SWOT Analysis Spotless Cosmetics, Beauty & Fragrance Stores;

Our location, the Business model we will be operating on (selling franchise and opening chains of stores in various locations), varieties of payment options, wide range of hair care and shower products, cosmetics, skin care products, fragrances, nail care products, deodorant and shaving products, sun care, baby care and other related products et al from different manufacturers both from the United States of America and from other countries.

Our excellent customer service culture will definitely count as a strong strength for Spotless Cosmetics, Beauty & Fragrance Stores.

A major weakness that may count against us is the fact that we are a new cosmetics, beauty and fragrance store outlet and we don’t have the financial capacity to compete with multi – million dollars cosmetics, beauty and fragrance stores like L Brands, Sephora, Sally Beauty Holdings Inc. and Ulta Salon, Cosmetics and Fragrances Inc. when it comes to retailing cosmetics products at a rock bottom prices.

Opportunities:

The fact that we are going to operate our cosmetics, beauty and fragrance store in one of the busiest streets in Carson City – Nevada provides us with unlimited opportunities to sell our cosmetic products to a large number of people.

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 cosmetics, beauty and fragrance store; 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 cosmetics, beauty and fragrance store or even a supermarket that retails cosmetics in same location where ours is located.

7. MARKET ANALYSIS

Market Trends

Cosmetics, beauty and fragrance store cum retailing business has been in existence for as long as human started trading goods, which is why you can easily find mom and pop shops scattered all around world. In most cases, those people that you find running mom and pop business in a very small scale in a street corner may not have the education that would want them to aspire to run the business on a large scale.

Just like in any retailing business, it is common to find cosmetics, beauty and fragrance stores locating their business in a location with the right demographic composition and a place that is visible to their target market.

Lastly, it is a common trend to find cosmetics, beauty and fragrance stores that are determined to stay top if the game retail a wide range of hair care and shower products, cosmetics, skin care products, fragrances, nail care products, deodorant and shaving products, sun care, baby care and other related products et al from different manufacturers both from the United States of America and from other countries.

With that, they can be considered a one stop cosmetics, beauty and fragrance shop and if they retail in rock bottom prices, then they are going to stay atop for a long time.

8. Our Target Market

As a matter of fact, the cosmetics, beauty and fragrance stores industry has one of the widest ranges of customers; everybody on planet earth has one or more things that they would need from cosmetics, beauty and fragrance store- be it an adult or a kid.

It is difficult to find people around who don’t patronize cosmetics, beauty and fragrance stores. In view of that, we have positioned our cosmetics, beauty and fragrance store to service the residence of Carson City – Nevada and every other locations where we intend opening our chains of cosmetics, beauty and fragrance stores.

We have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to retail a wide range of cosmetics, beauty and fragrance products to the following groups of people;

Bachelors and Spinsters
Corporate Executives
Business People
About to wed couples
Expectant Mothers
Sports Men and Women

Our Competitive Advantage

A close study of the cosmetics, beauty and fragrance stores 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 cosmetics, beauty and fragrance stores in Carson City – Nevada and throughout the United States.

Spotless Cosmetics, Beauty & Fragrance Stores is launching a standard cosmetics, beauty and fragrance store that will indeed become the preferred choice of residence of Carson City – Nevada.

Our cosmetics, beauty and fragrance store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Carson City – Nevada. We have enough parking space that can accommodate well over 20 cars per time.

One thing is certain, we will ensure that we have a wide range of cosmetics, beauty and fragrance products available in our store at all times. It will be difficult for customers to visit our store and not see the product that they are looking for.

One of our business goals is to make Spotless Cosmetics, Beauty & Fragrance Stores a one stop cosmetics, beauty and fragrance shop. Our excellent customer service culture, 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 cosmetics, beauty and fragrance stores) 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

Spotless Cosmetics, Beauty & Fragrance Stores is in business to retail a wide range of cosmetics, beauty and fragrance products to the residence of Carson City – Nevada. We are in the cosmetics, beauty and fragrance stores 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 retailing of a wide range of cosmetics, beauty and fragrance products at affordable prices. We will retail products such as;

10. Sales Forecast

One thing is certain when it comes to cosmetics, beauty and fragrance stores, if your store is well stocked and 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 Carson City – Nevada 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 cosmetics, beauty and fragrance stores 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 projection is based on information gathered on the field and some assumptions that are peculiar to startups in Carson City – Nevada.

Below are the sales projection for Spotless Cosmetics, Beauty & Fragrance Stores, it is based on the location of our business and other factors as it relates to candy stores start – ups in the United States;

First Fiscal Year-: $240,000
Second Fiscal Year-: $450,000
Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there wouldn’t be any major economic meltdown and there won’t be any major competitor offering same products 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 Spotless Cosmetics, Beauty & Fragrance Stores, we undertook 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 Carson City – Nevada.

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 cosmetics, beauty and fragrance stores industry to help us develop

In other to continue to be in business and grow, we must continue to sell the cosmetics, beauty and fragrance products that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. In summary, Spotless Cosmetics, Beauty & Fragrance Stores will adopt the following sales and marketing approach to win customers over;

Open our cosmetics, beauty and fragrance store in a grand style with a party for all.
Introduce our store by sending introductory letters alongside our brochure to organizations, households and key stakeholders in Carson City – Nevada
Ensure that we have a wide range of cosmetics, beauty and fragrance from different brands at all times.
Make use of attractive handbills to create awareness and also to give direction to our cosmetics, beauty and fragrance store
Position our signage / flexi banners at strategic places around Carson City – Nevada
Position our greeters to welcome and direct potential customers
Create a loyalty plan that will enable us reward our regular customers
Engage on road shows within our neighborhood to create awareness for our cosmetics, beauty and fragrance store.

11. Publicity and Advertising Strategy

Despite the fact that our cosmetics, beauty and fragrance store 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 business.

Spotless Cosmetics, Beauty & Fragrance Stores has a long term plan of opening chains of stores in various locations all around Nevada and key cities in the United States which is why we will deliberately build our brand to be well accepted in Carson City 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 Mama Jay Candy Stores;

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 like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
Ensure that our we position our banners and billboards in strategic positions all around Carson City – Nevada
Distribute our fliers and handbills in target areas in and around our neighborhood
Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of Spotless Cosmetics, Beauty & Fragrance Stores and the products we sell
Advertise our cosmetics, beauty and fragrance store business in our official website and employ strategies that will help us pull traffic to the site
Brand all our official cars and vans and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Pricing is one of the key factors that gives leverage to retail business like cosmetics, beauty and fragrance stores, it is normal for consumers to go to places (retail outlets) where they can get cosmetics, beauty and fragrance products at cheaper price.

Which is why big player in the cosmetics, beauty and fragrance stores industry like L Brands, Sephora, Sally Beauty Holdings Inc. and Ulta Salon, Cosmetics and Fragrances Inc et al will attract loads of consumers. Products in their stores are tagged with the cheapest price you can get anywhere in the United States.

We know we don’t have the capacity to compete with L Brands, Sephora, Sally Beauty Holdings Inc. and Ulta Salon, Cosmetics and Fragrances Inc. but we will ensure that the prices of all the cosmetics, beauty and fragrance products that are available in our store are competitive with what is obtainable amongst cosmetics, beauty and fragrance stores within our level.

Payment Options

The payment policy adopted by Spotless Cosmetics, Beauty & Fragrance Stores 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 Spotless Cosmetics, Beauty & Fragrance Stores will make available to her clients;

Payment via bank transfer
Payment with cash
Payment via POS
Payment via online bank transfer
Payment via check
Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase 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 for the purchase of products from our stores.

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 a place, 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 cosmetics, beauty and fragrance store business; it might differ in other countries due to the value of their money. These are the key areas where we will spend our start – up capital;

The Total Fee for Registering the Business in the United 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 Spotless Cosmetics, Beauty & Fragrance Stores 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.
Cost for hiring Consultant – $2,500.
Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $53,300.
Cost for Shop remodeling (construction of racks and shelves) – $5,000.
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 (a wide range of hair care and shower products, cosmetics, skin care products, fragrances, nail care products, deodorant and shaving products, sun care, baby care and other related products et al from different manufacturers both from the United States of America and from other countries.) – $75,000
Storage hardware (bins, rack, shelves, food case) – $3,720
Cost for store equipment (cash register, security, ventilation, signage) – $3,750
The cost for the purchase of 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 our opening party: $3,000
Miscellaneous: $10,000

We would need an estimate of $350,000 to successfully set up our cosmetics, beauty and fragrance store in Carson City – Nevada. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital for Spotless Cosmetics, Beauty & Fragrance Stores

Spotless Cosmetics, Beauty & Fragrance Stores is a family business that is solely owned and financed by Mrs. Peace Osteen and her immediate family members. We do not intend to welcome any external business partners, which is why we have 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 $100,000 (Personal savings $80,000 and soft loan from family members $20,000) 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

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Spotless Cosmetics, Beauty & Fragrance Stores is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our products a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Spotless Cosmetics, Beauty & Fragrance Stores will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

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 shop: 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 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
Compilation of our list of products that will be available in our store: Completed
Establishing business relationship with vendors – suppliers of cosmetics, beauty and fragrance products: In Progress

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Blog for Business

Beauty business

The makeup business

Introduction

Step-by-step guide for starting a makeup artist business

Business plan for a makeup artist

How to run a makeup artist business legally

Effective promotion of makeup artist services

Portfolio — a must-have for a makeup artist

Where to work: in a beauty salon & at home

How to get whether the makeup business will work out for you

Conclusions + handy tips for beginners

#1 Introduction

There are so many services related to beauty. We have already talked about starting a beauty salon , barbershop , nail salon , or SPA , and even about opening a lash&brow business . Now, let's see how to create a makeup artist business.

Professional makeup is a life-changing service for many. This procedure not only highlights your beauty but also hides even the tiniest details you don't like. In addition, makeup is the art you can make money on.

Makeup changes the appearance but not the individuality. The main goal of this service is to show clients a better side. So, makeup artists use various beauty techniques, valuable products, and accessories.

A skillful makeup artist is a person who understands the fundamental principles of human anatomy, has artistic talent, the feeling of style, and trends.

The makeup business is a mix of art and hard work. A professional makeup artist has to be:

Eager to learn.

How to open barbershop

Open a tanning studio

How to open a massage studio

Lash and Brow business

How to start SPA business

How to open a nail salon

Beauty salon names

How to open a medical center

Technologies
Communication
Best practice
Business Software
Interior & Digital Design

How to Start Your Own Cosmetics Business

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There’s something extremely satisfying about having your own cosmetics business.

Maybe it’s the instant authority it gives you as a makeup expert.

Or how popular it makes you when going out with friends.

Or it could just be the amazing discounted makeup!

Personally, I love the fact that I earn a living doing something I have an actual passion for and making people’s lives better as a result!

We help people look their best, and give them confidence as a result. I can’t even count how often people have thanked me for just doing my job. And I didn’t just sell them makeup, skincare products, or hair care products. I helped them achieve the vision that they have of themselves at their best.

Honestly, that right there makes everything worth it. I do have to admit though, getting paid for to do something that I really enjoy is a nice bonus!

Believe me. There’s never a lack of people who need help but are helpless when it comes to makeup.

Start Your Own Cosmetics Business in 12 Steps

The cosmetics industry is growing every single year. In 2015, the beauty industry as a whole brought in over $56.2 billion in the U.S. alone! And makeup cosmetics made up 15% of that – or $8.5 billion – and is expected to rise to $11 billion by 2018.

So if you’re anything like me and really love and appreciate the power of cosmetics, maybe it’s time you invest in yourself and learn how to start a cosmetics business.

By the time you finish reading this post, you’ll understand exactly what you need to do in order to make your makeup dream into a reality!

Step 1: Learn How a Cosmetics Business Works

The first step to starting any business is to understand how it works. Fortunately, there are a few ways to do that.

You can start by studying everything you can online. Look up Sephora, MAC, and Estee Lauder, and learn everything you can about them.

Where are they from?

Where do their products come from?

How many employees do they have? What does their distribution channel look like?

Click here to download all of the 31 FAQs of starting a business in this Free Report.

Next, look for the most popular beauty stores in your area and study them, too. Get familiar with their marketing, their staffing, their product selection… basically, your goal is to learn literally everything you can about the most successful cosmetics businesses in your area!

Then – and here’s the fun part – go buy some products from them! Experiment. Play. Have fun and see what kind of magic you can pull off by giving your friends makeovers.

But the absolute best way to learn about the industry is to work in it.

Remember those stores you were studying? Go get a job at one of them! Learn their sales tactics, how they target customers , how they establish their sales projections, how they handle their ordering.

Know who their suppliers are, and what kind of prices they pay.

And learn as much as you can!

If you want to start a cosmetics business from home, then start researching which company you want to work under.

This is a GREAT option for those with limited budgets but huge social networks and people skills!

I’m not ashamed to admit that when I was younger, I was totally a Mary Kay sales rep! And you know what? I did really well there! But today, there are so many options for young entrepreneurial ladies looking to get into the cosmetics industry.

If you’re interested in starting up a cosmetics business from home, here’s a great site that ranks home based cosmetics businesses by user score, startup kit price, base commission, sales method, and product categories.

Once you’ve decided on which model you’re interested in pursuing, whether you want to open a brick and mortar cosmetics store, start a home based cosmetics business, or even create one online, then it’s time to create a plan.

RELATED: Start Your Own Cosmetic Store, A Complete Guide to Help You Run, Start and Manage Your Cosmetics Store

Step 2: Create a Plan

Why do cosmetics businesses fail?

It’s not for lack of customers. The worldwide cosmetics market has grown every single year for the last decade – including following the 2008 recession. In fact, with the exception of 2009 when the industry grew just 1.0%, the growth rate for cosmetics has never dropped below 3%.

That means that each year there are more and more customers wanting and needing cosmetics.

Which means that the real reason cosmetics businesses fail is the same reason as most other businesses – lack of a plan.

Even if you’re starting a cosmetics business from home, a business plan is so important to your success because it’s a roadmap for you to follow.

Creating a business plan is challenging, yes. But it also saves you lots of time, hassle, and money down the road. By making all your decisions ahead of time, you can make sure you’re not missing anything, and really come to understand your business.

Also, if you’re going to open a cosmetics storefront, you’ll need a business plan to show banks or investors for financing.

Your cosmetics store business plan should include an overview of your business, but should also get specific.

What’s the mission and objectives of your store?
Who is your target market?
What is your startup cost?
How much do you expect to make your first year? Your second year?
What does your competition look like?
Do you have a marketing plan?

Your business should guide you in effectively running your business plan after you’ve launched your company, so do not skip over it!

If you’re not sure where to start, Startup Jungle can help you create an expertly organized and professional business plan for your cosmetics business.

Just email [email protected], and they’ll give you the help you need.

Step 3: Discover Earning Potential

How much money does a cosmetics business make?

Well, that depends.

Different business models have different operating expenses and different earnings potential

If you’re working from home, you’ll pay a set amount for your kit, and then earn a commission based off of each product you sell.

If you’re creating an online store then you’ll earn whatever affiliate commission you agree to with the wholesalers.

And if you’re building an actual brick and mortar store, that’s where you have the highest earning potential. But that’s also where you have the highest setup and operating costs.

That being said, the earning potential is there.

As I said before, the industry is growing. Currently, growth is at about 5% a year. But online beauty sales are growing at 20% every year!

And according to L’Oréal, the term “beauty” is one of the top 3 most popular search topics on Google!

The U.S. market alone brings in more than $56 billion a year. If you’re serious about starting a cosmetics business, the earning potential is absolutely there for the taking!

Step 4: Set a Budget

Your budget should be part of your business plan.

You should be able to plan out all startup costs and recurring expenses ahead of time so that you know how much money you have to put back into your business or into your marketing campaign. If you run out of money, you can’t operate your business and have to shut down, making your budget an important tool in your business kit.

How much does it cost to open a cosmetics business?

Well, again that depends on what type of model you run with.

If you’re opening a cosmetics business from home, your costs will be lower. Really, your only required costs will be the kit you buy from the cosmetics company.

But then there are recommended costs. Get yourself a website. And business cards.

Print flyers, if you can.

Invest in stylish, high quality rolling makeup artist travel cases.

Perhaps you’d like to invest in a local magazine and get yourself featured? Or Facebook’s local awareness ads?

If you’re creating a drop shipping company , then you just need to invest in creating a beautiful website and directing online traffic to your site.

As for creating a real life store, that’s a bigger operation with much higher costs.

Some costs to consider when starting a cosmetics business include (in no particular order!):

Business permits

You’ll have more needs, but this list should get you started.

To really understand everything, you need to go observe the most successful cosmetics business in your area and mimic whatever you can from their business.

Here’s my example here at Startup Jungle:

How to Start Your Own Cosmetics Business

Running a business can be expensive, so here are some tips to keep costs down:

Make sure your marketing is targeted – if it’s not working, don’t be afraid to change it
Schedule appropriately – labor is your highest cost, make sure not to overdo it
Pay attention to the little things – napkins and wet wipes add up, so think about washable towels instead to save money
Don’t leave the lights on – sounds simple, but utilities get expensive, so make sure you’re conserving wherever you can

Step 5: Decide Which Products/Service to Offer

This is such an exciting piece!

How do you decide what products or services to offer?

Well, again that depends on your business model. But it also depends on you!

What are you really great at? What do you have a passion for?

Basically, you’re asking yourself what is the Unique selling point? What can you offer that nobody else can? Maybe it’s you, maybe it’s your service, maybe it’s your experience…

Figure it out and create a business out of it.

Once you know what you want to sell, you need to find out what your customers want to buy. It’s far more important.

So go talk to friends, family, customers, potential customers, and even strangers on the street. Find out what they’re interested in!

Don’t just say “would you buy this mascara?”

Ask them, “what order would you rank these products” or “what’s your favorite brand of concealer”.

By avoiding yes or no questions, you can give your business a better opportunity to understand what people like best as opposed to just what people say they like. There’s a big difference.

What sells best in the cosmetics industry?

Today, people are looking for sustainable, organic, and anti-aging products.

It’s not just women looking at cosmetics anymore, but men, too.

Men now represent a huge growing market in the industry which should absolutely be focused on.

Step 6: Decide on a Location

Where should you open a cosmetics business?

If you’re working from home, you want to have an area set up in your home which lets you display your products and host customers and guests.

But if you’re looking for a location for a storefront, you want a location with high foot traffic to increase sales. The best options include malls, kiosks, and high-end plazas.

Ideally, you want to set up your store in affluent areas where disposable income is high, prompting more sales from customers who can afford to look their best. However, if you’re competing on price, then perhaps you want to cater to low-budget neighborhoods as a discount beauty supply store. In this case, you should avoid affluent neighborhoods, but still focus on important factors such as:

Visibility from the street
Ease of access

Regardless of location, your business is best served by having multiple sales avenues. So you’ll want to explore online sales, as well.

If you’re not sure what to look for, speak to commercial realtors and see if they have any suggestions from past experience.

Step 7: Find Suppliers

What equipment do you need to open a cosmetics store?

That, as you know by now, varies based on what model you go with.

An online store will only need a web designer and a wholesale cosmetics supplier.

As a home-based business, you will have everything you need directly from your company, which is the biggest perk.

But a real world store has more needs. These include:

Display cases
Sponges, brushes, and other supplies
Makeup products
Point of sales system
Art and decorations
Security systems

You may want to explore buying wholesale directly from the cosmetics company. But some other suppliers to explore are:

https://www.salonsupplystore.com/collections/makeup-supplies
http://www.ccibeauty.com/index.html

Research what supplies you’ll need – and where to get them from – ahead of time. This saves time and hassle down the road. Don’t be afraid to shop around for the best prices.

Also, consider auctions or buying slightly used furniture and equipment to save money. Just make sure that everything is in great condition!

Step 8: Promote Your Cosmetics Business

Without customers, your business cannot survive. So it’s critical to promote your cosmetics business in order to bring in new and returning customers.

So how do you promote your business?

Well, there are the traditional, physical ways and newer, targeted digital ways. Both are effective.

Mailbox coupons and door flyers work, but they’re not targeted. So you may be wasting a little bit of money by giving your material to people who don’t need it. You also run the risk of angering people if you leave a flyer on their car or home door.

But it presents an opportunity to get yourself in front of local people who are potential customers. Don’t underestimate that.

You can also stand on a street corner offering samples or coupons to passersby who are your target market.

For more targeted methods, use the internet. Google AdWords allows you to be featured in local searches. Remember, “beauty” is a top 3 Google search term, so that’s a valuable tool. And if you want to really target your audience, use Facebook to differentiate your audience based on interests, age, and location. This is great if you’re looking for high-end buyers because you can target based on their current interests.

If you’re not sure where to start, look at what your competition is doing. If they’re successful, there’s no reason you can’t be, too!

Step 9: Create a Staffing Plan

If you’re working from home, then you can handle doing everything on your own.

But if you’re opening a store, it’s important to have help.

That’s why it’s important to have a hiring plan.

Hiring the wrong person for a position can really hurt your business.

You have to be able to trust your people to run the store even if (especially if) you can’t be there, need to know not only how many people you need on staff, but what type of people and where to find them and can protect yourself by having a potential hire demonstrate their abilities and also by interviewing with questions that will verify cultural fit.

Have a plan not just for who to hire and where to find them, but how to train them and how to staff them. Knowing all of this in advance will prevent you from tearing your hair out trying to organize everything on the fly, but also save you money by keeping you from over staffing.

Step 10: Decide on a Style/Design

Here’s another area that can be overwhelming.

Your style and design directly influence how customers feel about your business. You want to be warm and welcoming but still express your own flare and passion. Just be careful not to overdo it and risk scaring away customers.

The best way to figure this piece out is to talk to prospective customers. Get feedback from the people who would be frequenting your cosmetics business. Talk to them at existing beauty shops. See what people like and don’t like. If you’re still not sure, talk to some contractors and see what’s most commonly requested of them.

Another option is 99designs.com .

Here, you get designers competing for your prize money. For as little as $99, you get to choose from a large selection of high-quality logo options, giving you flexibility and options, and hopefully providing some inspiration.

And remember, if you’re not sure what to do, don’t be shy about looking for inspiration in other stores or even magazines.

Take your time when choosing your style. Remember, it should express you and your business, so make it appealing!

You’d also need business cards! Here are some designs you can start with:

Step 11: Create an Accounting Plan

Having an accounting plan is a must for any business.

As a business, you’ll be an employer. As such, you’d be responsible for payroll, taxes and documenting all your income. Which is why it’s so critical to have every dollar accounted for and everything in order.

Equally important, you’ll be able to project your sales more easily with proper tracking. In addition to knowing if you are on track, it helps you stick to your budget. You’ll also be able to tell if anything is missing from your store, thus, making an accounting plan part of your store’s security measures .

Here’s a few accounting software we have seen:

No one likes to crunch numbers, but that doesn’t change the fact that this is a requirement. If you’re not sure about how to move forward with an accounting plan, consult with a local accountant about either handling your books for you or offering suggestions as to how best to handle your own books.

Step 12: Get Into the Cosmetics or Beauty Community

Becoming involved in the beauty industry community is more beneficial to your business than almost any other activity you can do.

Follow your favorite brands on Instagram.

Get involved on Facebook in groups, fan pages, and communities.

It only takes one retweet, regram, or mention to get noticed by the right people.

While you’re at it, join associations!

Associations give you access to industry veterans, workshops, trade shows, and priceless information about how to best run your business. You’ll learn industry best practices, new strategies, and tips to sell your products more effectively .

An association can be the difference between losing money and making a profit!

Here’s a list of associations you may be interested in:

http://hbia.com.au/
https://probeauty.org/
http://dayspaassociation.com/
http://www.aestheticsassociation.com/

You can also explore local meetings through meetup.com!

You never know where your big break may come from, so make sure you’re actively engaged in the cosmetics community!

Here’s an infographic with useful information about the Cosmetics industry and some tips on starting a business within it:

The Bottom Line

Opening (and running) a cosmetics business is a lot of work.

But if you do it right, it’s not only rewarding, it’s a lot of fun.

You get to be your own boss and brighten people’s lives on a daily basis!

On top of that, you’re helping them improve their confidence and making their lives happier!

Hopefully, you put this guide to use .

If this was helpful for you and you want to learn more about opening a cosmetics business, StartupJungle.com has a 21-point checklist for starting your new business . Make sure you download this if you’re serious about getting started.

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How to Write a Beauty Products Business Plan

Updated: 22 March, 2022

As a founder of a beauty brand start-up, you’ll need a clear vision, a well-written beauty products business plan and to have put some skin in the game in terms of hard work, time and funds. But how do you go about getting started on that all-important business plan and what should it contain?

In this blog post, we summarise the 10 key steps new beauty entrepreneurs need to work through to write a business plan for a cosmetics company. This is essential reading for anyone wondering how to start a beauty business from home as it makes you aware of just what you will need to think through and start planning for.

Running a cosmetic business requires you to be very organised. You will need a strong business plan that leads you through all of the main components of your cosmetic business. The relief is that your business plan does not need to be the size of a thesis. In fact, the more concise it is the better as you will be able to tackle it and feel like referring to it in the future.

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Our step-by-step video guide below is based on the business planning exercises we provide as part of our Diploma in Beauty Brand Business Management . The Diploma is an extensive, six-module course that takes you on an intensive journey from would-be entrepreneur to empowered founder armed with a structured business plan. Pre-enrol to find out more about this diploma and our other courses.

10-Step Guide to Your Beauty Products Business Plan

Step 1: why your beauty business needs a plan.

The first step is to set yourself a challenge: ask yourself why you are writing a business plan in the first place. There is no point in going through the motions of writing a beauty product business plan. You need to buy into the very concept of business planning.

We know that the thought of writing a business plan can seem daunting. However, your business plan is a necessary and very important strategic document as it focuses your energy, time and resources on a clear end game; not only that of launching a successful beauty business, but also of ensuring it has the potential to thrive longer term.

Your business plan isn’t just to show potential investors and otherwise hide away in a filing cabinet. It is a tool to refer to every time you are faced with important decisions. Your plan guides your decision-making and makes the everyday of running your beauty business simpler and smoother.

It will take time to write your business plan as it summarises the hard work you need to do beforehand in discovering your vision, working out your ‘why’ and what your brand stands for, what you’ll be selling, where you’ll be selling, who your competitors are and what your market gap is, and how you’ll fund your business. It also entails drafting a full financial plan, based on things like sales’ forecasts.

With this mindset challenge out of the way, let’s cover the key areas of your plan in the next steps.

Step 2: Your beauty brand mission and vision

We’ve seen many start-up beauty entrepreneurs rush into designing their branding before they have even worked out why they are in business. Before branding, come your vision and mission. Often confused and easily ignored, these two statements are the guiding lights of your business.

First, let’s define them. Your vision is about your bigger dreams. It isn’t simply that you want to make organic formulations to sell to anyone. Your vision statement sets out how you want to make a difference with your beauty brand. At Formula Botanica, our vision, in brief, is to make natural formulation as commonplace as cookery.

Your brand mission statement says how you intend to achieve that vision. At Formula Botanica, our mission is to ‘teach the world to formulate’. As you can see from our example, the mission is practical and active and states how we accomplish our vision – through teaching and our online courses.

When you write your brand vision and mission statements, you’re not writing boring, bland, catch-all statements. Coming up with why your beauty brand exists and how it serves your customers is not a quick back-of-the-envelope exercise either. It may take you weeks to define your vision and mission, but this is time well spent as these statements are the heart of your beauty business. Don’t move on to the next steps until you have total clarity on them.

Step 3: Your niche and customers

It’s all well and good having your vision and mission, but if you don’t know your niche in the beauty market nor much about whom you are selling to, then you might not have a business at all. We’re sure you’ve heard this advice a hundred times, but you need to know exactly who you’re going to be selling to. You need to understand who this type of person is, how they live and how they shop.

Once you know who your target customer is, all of a sudden everything clicks into place and becomes easier in terms of selling. You know which marketing messages work best for your customer, you know what they’re looking for and you know how to sell to them. When starting your beauty products business, you need to have a niche and that niche cannot be ‘organic’ or ‘natural’. There are so many untapped niches in the beauty industry, for instance, skincare for women in their fifties, skincare for certain types of athletes (swimmers, runners, etc.), and skincare for teenage boys.

Jot down bullet points about your ideal customer; include where they live, what other brands they buy, how they holiday, what their key skincare issues are and so on. Be brief but on point. Home in on a single person – often called your brand ‘avatar’. It might sound tedious to do, but once you have that person clearly in your mind, everything in your business will work to meeting their needs. Just ensure that you really do have a niche that exists.

We reported on some trends from In-Cosmetics Global , in Paris (April 2019). We’re not suggesting you need to keep up with the latest fad in the beauty industry, but do your market research thoroughly so you can decide where to position your brand and products.

Step 4: Your beauty products

Your business plan needs to detail your initial product(s) and explain what their sales’ proposition is and how they meet your target customers’ needs. This sounds simple to do, but believe us when we say we have seen new beauty entrepreneurs incur huge expenses as they change their direction and minds on products just after launching. Bringing new products on board can often be a way of diverting yourself from the hard task of marketing and sales.

When you learn to formulate natural skincare, you create a diversity of products without much thought about how they fit together as a range or as a beauty routine for customers. When you think like a business, you need to understand very clearly what you are selling and what proposition your products offer your target customers.

It is possible to launch with a single product, and there are well-known examples of beauty brands with only a ‘hero’ product to their name. If you are creating a range, work out how the products complement each other. Also, given issues of sustainable consumption, think about how a single product can demonstrate a unique selling proposition by multi-tasking.

Your range has financial implications so you need to decide how many products to launch with and which create a minimal viable range that makes sense for your budget and for your customers’ needs. Above all, your cosmetics’ range will need to demonstrate it has a place in the market and how it improves your customers’ lives.

Step 5: Your competitors

Yes, your competitors most certainly have a place in your skincare business plan. You, as the founder, bring your individual perspectives and experiences to your brand, so in one sense you have uniqueness built into the foundations of your beauty business. That said, you need to keep a close eye on the movers and shakers in your niche and in particular at your product range’s price point. Knowing your competitors keeps you on your toes and is information any investor will ask for, up front and early on.

It can be frustrating at times to research your competitors as their websites might be PR speak and not give much away. Look for interviews with the founders and follow them on all their social media to glean more. Competitor research can help you identify areas where your brand can thrive and can show you more effective ways to grow customer loyalty – and build your business. See what they are doing so that you know what’s working for them and what isn’t. Write a list of their strengths and weaknesses to see how you can do better. You also need to know where to position yourself in comparison to your competitors.

Don’t obsess about your competitors, but check in on what they are up to every few months. Your aim is not to copy them, but to control your beauty products’ conversation. Again, if you have clarity on the earlier steps – mission, vision, niche and customer – then you are on solid ground. It is just good business sense to know what is going on in the market.

Step 6: Your manufacturing strategy

Your manufacturing strategy is a large part of your business strategy. You need to decide whether you will be producing your beauty products yourself in your own (home) lab – according to Good Manufacturing Practice (GMP) , using a contract manufacturer or opting for private label products. You need to define also which route suits you at launch and mention any plans to switch model later on.

Each model has its pros and cons depending on your mission and vision, as well as implications for important aspects of your business such as distribution, logistics, financing, and contractual obligations to retailers who stock your brand. How many units of products do you envisage creating a year? Which model suits your entrepreneurial ambitions and lifestyle? As you can see, your business model and manufacturing model go hand in hand. Having an end goal in sight is critical to shaping your overall business plan, the amount of capital you need to raise and the way you conduct your day-to-day operations.

There is no right or wrong choice here, but ensure you know the implications of whichever route your opt for. It might sound perfect making your own products at home in small artisanal batches, but we do know of beauty entrepreneurs who find their business sky rockets faster than they imagined. They then play catch up trying to find and fund outsourced manufacturing so they don’t let retail stockists down. This is a critical area of your business plan and needs you to consider your vision and ethos, as well as think about your own time, hiring staff, and your overall financial situation.

Step 7: Your retail strategy

We’ve seen many indie beauty entrepreneurs think they can sell direct to consumer from their website alone. To do this successfully, you need to invest in becoming a proficient digital marketer – or outsource the role. It can be tempting at the outset to want to sell directly from your own website because your keep all the profit yourself. However, although you receive lower profit margins by having your products stocked in stores and e-stores, retailers can help get your products sold and your brand known as they have a ready customer market; whereas you are unknown and have to build awareness of your brand from scratch.

The work you have done so far in defining your niche, customers, competitors and product range should indicate which retailers suit your brand best. Will your brand fit into the mass, so-called ‘masstige’, premium or luxury retail categories? And which retailers do you hope will stock your brand? What are their likely margins and what implications does this have for your manufacturing model and financial forecasts? Will you also work with distributors in certain markets, especially overseas, and again, how do their margins affect your bottom line?

You must address all these questions and more in your beauty business plan . It is no good working out how and where to sell once your products are all stacked in boxes in your living room or at a warehouse!

Step 8: Your funding

We might have left finances to last, but finding the money to fund your business is an issue that dominates your entire business plan. As you’ve seen, each previous step has financial implications. As we mentioned in our post on how to start a cosmetic business from home , you won’t be able to run a successful beauty brand without having a firm grip on finances. Having sound plans for raising finance at various junctures in your business is sound business practice.

Your business plan needs to cover the different types of funding options available to you now and in the future, whether ‘love money’ loaned from friends and family, bank loans or other sources such as crowdfunding. it needs to look at short-term and long-term sources of finance. You need to understand and pre-empt what your potential investors will ask you about financing and demonstrate in your business plan that you and your business are worth investing in.

Step 9: Your financial forecast

If you are reading this, it is likely you are thinking of starting an indie beauty business. As business plans are best written in the first year of your beauty business, you may well be pre-revenue when you draft it – or need it when pitching to investors. You may not have sales yet, but you can still show some key figures on the size of your market and your brand’s potential.

To introduce your financial forecast, you should include a timeline showing your milestones, such as when you started, your key achievements, any brand or packaging development, what stage you are at now, i.e. do you have a product in creation and how much have you invested or fund-raised so far? If you are already selling, then you can show how much investment has gone into the company already, what returns and sales you have and what your financial projections are.

There will be a need for you to factor in expenses you hadn’t thought of. One such ‘hidden’ expense we see many beauty entrepreneurs fail to predict is the need to cover retailers’ promotions. Stores generally expect you to contribute to their promotions of your products. Cashflow is everything in a business, even one selling successfully. You may face shortfalls of cash while waiting for retailers to pay you. That time lag means your day-to-day business can grind to a halt if your cash is tied up in stock and you have nothing to cover buying in more raw materials to keep production going or to cover promotions or seasonal campaigns.

As you can see, financial forecasting is about your day-to-day business, and this alone is one reason you need to revisit your business plan frequently. You need to keep an eye on your profit and loss sheets and map the trends monthly. Learn as much as you can yourself about financial forecasting and measuring your business’ financial health. Having an accountant or financial expert assist with this information can help you be better prepared both day to day and when talking about your finances to potential investors.

10: What to do with your plan now

Congratulate yourself. You have made it through the first draft of your business plan – or roadmap. But, now comes perhaps the hardest step of all; that of doing something useful with your business plan, as opposed to archiving it in some filing cabinet. This is a plan to revisit and adjust, and to assess your business’ health and performance against. It is not a document to present to banks and potential investors at the start of your business journey and then forget all about.

So, what exactly do you need to look at it for, and how often? Let’s take just a few examples of areas you will need to review.

First, you need to revisit your financial forecast monthly. See how your budgeting is measuring up against actual sales and expenses. Are things on track? Either way, yes or no, you will have a benchmark against which to measure your current business health. This information will guide you as you go forward.

Then, revisit your competitors and the overall market situation. How have things changed and how might this affect your product range, pricing or development? Be aware that you need time to get established in your market. Knee-jerk reactions can be costly. But use your plan to monitor things.

Examples of areas to review annually are your mission, vision and niche. Was your research when drafting the plan accurate? Have you proved the concept of your brand and product range? Access to a mastermind group of like-minded business founders, even in different sectors, or a mentor can help you work through any changes you think are necessary to your core statements. Again, think these through basing decisions on financials too.

Pre-enrol in a Formula Botanica course and learn how to start a cosmetic business

We hope our points have given you the outline of what you need in to think through in starting a beauty business. If you have a mission to create a beauty brand that’s bigger than yourself – a skincare brand, haircare line or makeup range that changes people lives – we can help you learn how to formulate your own products and all about bringing a brand to market.

Pre-enrol now in our Diploma in Beauty Brand Business Management – the ultimate online training programme in starting or growing your indie beauty brand. We like to refer to it as a Beauty Brand MBA. It is a combination of award-winning teaching materials and a web summit with 30+ influential speakers drawn from the best in the beauty and business community.

Or why not pre-enrol on one of our formulation diplomas and courses in skincare, haircare and cosmetic science to change your life through natural formulation? All our courses are fun and empowering and can be career changing.

Your start-up costs with a beauty business vary according to where you set your sights and relate very much to your personal goals and circumstances and not only to current funds and cash flow. The ballpark figure you find is around US $20,000 or similar in Euros. If you wish to outsource, initial start-up costs are high as most contract manufacturers require large minimum order quantities. Similarly, your branding and packaging also rack up costs especially if you are aiming at the more luxury end of the market. Writing a business plan to help you think through all the variables can give you a clearer idea of your beauty business start up costs and help you plan finances as your business grows. You can start on a small budget by making product at home to sell at local markets. Work out your personal goals and lifestyle needs first to have an idea of what costs you will face.

Indie beauty is flourishing and ever more skincare entrepreneurs find a niche and enter the market. But, finding a niche that resonates with customers is key to defining what type of beauty business to launch. Being clean, green, natural or even organic is not enough these days to necessarily differentiate your potential beauty business. Think carefully about how your beauty products will resolve the issues and fulfill the needs of a clear segment of consumers. Do not be all things all to people. By researching for and writing a beauty brand business plan, you will shape your ideas and define a viable product offer, customer base and route to market.

Join us at Formula Botanica, where tens of thousands of students and followers take our free and paid online courses to learn how to formulate organic skincare and haircare for themselves or to sell and also how to set up a beauty brand and business.

Leave us a comment

Liz is Formula Botanica’s Content Coordinator and joined our team in August 2020. Liz worked as a professional blogger, journalist and site developer for many years and was also part of the Formula Botanica student community. Read more about the Formula Botanica Team .

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Cosmetic Business Plan Template [Free PDF]
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VIDEO

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COMMENTS

Writing a Business Plan
While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand.
How to Choose a Phone Plan for Your Business
Every company needs an effective phone plan for their business. It’s important for all your employees to be able to communicate with each other. You also need to ensure that you can take phone calls from clients when they need to reach you.
Making a Risk Management Plan for Your Business
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management.
(PDF) SAMPLE BUSINESS PLAN FOR COSMETICS BUSINESS
The vision of the cosmetic shop will be 'To be the leading suppliers of quality, fresh and health skin booting cosmetics product' Our mission will be, dedicated
How to Make a Good Cosmetics Business Plan
Shopping cosmetic products. Step 2: Define ... To attract these types of customers, your brand also needs to keep up with these trends.
Cosmetic Business Plan Template & How-To Guide [Updated 2023]
Executive Summary · Give a brief overview of the cosmetic industry. · Discuss the type of cosmetic business you are operating. · Detail your direct competitors.
Cosmetic Business Plan Template (2023)
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
Online Cosmetic Store Business Plan
What is an Online Cosmetic Store? · Business Plan Overview · Target Market · Identifying the Target Audience · Defining Your Brand Identity · Product Range and
Cosmetics Business Plan for New Entrepreneurs
How to Create a Cosmetic Business Plan? · 1. Company Overview · 2. Industry Analysis · 3. Product Description · 4. Marketing Plan · 5. Operations Plan · 6. Funds
Cosmetics Store Business Plan [Sample Template]
One of our business goals is to make Spotless Cosmetics, Beauty & Fragrance Stores a one stop cosmetics, beauty and fragrance shop. Our excellent customer
Makeup artist business plan
How to start makeup business in beauty salon or at home: 7 simple steps and makeup artist business description.
How to Start your own Cosmetics Business
You'll also be able to tell if anything is missing from your store, thus, making an accounting plan part of your store's security
How to Write a Beauty Products Business Plan
Step 1: Why your beauty business needs a plan · Step 2: Your beauty brand mission and vision · Step 3: Your niche and customers · Step 4: Your beauty products
Sample Business PLAN FOR Cosmetics Busin
This plan is to set up a cosmetic shop in the name of " Briox Cosmetics Enterprise ", which will be located in Easy View Arcade Garage street Mbarara. The

Writing a Business Plan

Company Description

Services and Products

Market Analysis

Organization and Management

Financial Projections & Appendix

How to Choose a Phone Plan for Your Business

The Types of Business Plan

Voice Over Internet Protocol (VoIP)

Private Branch Exchange (PBX)

Small Businesses

Making a Risk Management Plan for Your Business

Who Are the Stakeholders and What Potential Problems Need Identifying?

Evaluate the Potential Risks Identified

Assign Ownership and Create Responses

Have a System for Monitoring

SAMPLE BUSINESS PLAN FOR COSMETICS BUSINESS.

RELATED TOPICS

Step 1: Conduct Market Research

Understand Market Size and Trends

Analyze Consumer Preferences

Investigate Competitive Landscape

Step 2: Define Business Concepts and Objectives

Business Concept

● Natural/Organic Beauty

● Luxury/High-end Beauty

● Healthy Beauty

● Increase Certain Market Share

● Establish a Strong Brand Identity

● Expand the Product Line

Step 3: Identify Target Customers

● Beauty Enthusiasts

● Budget-Conscious Consumers

● Minimalists

Step 4: Conduct a Competitor Analysis

Analyze Competitors’ Product Offerings

Analyze Competitors’ Brand Position

Analyze Competitors’ Pricing Strategies

Analyze Competitors’ Distribution Channels

Step 5: Develop Product Line and Brand Strategy

Product Line Strategies

● Core Product Line

● Seasonal Collections

Brand Strategies

● Tell the Brand Story

● Collaborations with Influencers

Step 6: Define Marketing and Sales Strategies

Digital Marketing

Retail Partnerships

Online and Offline Advertising

Step 7: Outline Operational and Plans

Supply Chain Management

Quality Control

Step 8: Outline Financial Plans

Create a Cash Flow Forecast

Profitability Analysis

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Competitive Analysis

Marketing Plan

Operations Plan