Cosmetics Store Business Plan Made-Easy – This is a simple cosmetic business plan sample, and shows in detail what a cosmetics store contains. The cosmetics retail/wholesale shop business plan also reveals cosmetics business ideas such as how to start a cosmetic business at home and other cosmetic business opportunities, summing up how to start a cosmetic business in Nigeria
Cosmetics Store Business Plan Made-Easy starts by revealing to you the various Cosmetics associated business opportunities available in the modern day. These are:
Cosmetics retail-: The normal retail shop
Cosmetics wholesale distribution-: The regular wholesale business type
Homemade cosmetics-: for those who can make unique and effective skin care or makeup products.
Makeup artistry-: Many people love to look beautifully different and that is a good opportunities for those who are talented at this or trained as make-up artists
E-commerce-: This is a retail shop on the web. It’s a good business opportunity
Affiliate marketing-: If you have a huge online audience in the form of blog visitors or newsletter subscribers, you can make money by promoting cosmetics products for cosmetics shops/dealers.
Raw materials-: starting a business that supplies raw materials to cosmetics manufacturing companies.
Tutorials/courses-: Organize tutorial sessions and short-term courses for training those who are interested in becoming experts in make-up artistry and other related services.
Consulting-: You can turn your several years of experience in the cosmetics business to a consultancy business.
Cosmetics Store Business Plan Made-Easy
Table of Contents
Selecting a particular line of business or a combination of lines of business is the beginning of this business plan. If you have done this now, or intend to do so later, this post is for you.
Cosmetics Store Business Plan Made-Easy covers every aspect of cosmetics business ideas/opportunities as listed above. It’s your duty to now read on and select business plan approaches that suites your type of business. As professionals, we give you guideline while you do the putting together the facts, if you want to do your plan by yourself, otherwise, contact us for a professional touch on your business plan.
The list of business opportunities as enumerated above reveals how large this industry is. As at today the business looms.
Looking and feeling good is really a good business in today’s modern world. It’s actually becoming a basic need in our lives and a huge deal in today’s modern society.
This industry cover personal health/body cares as Hair care, Skin care, make-ups, Personal care, Toiletries, and fragrances etc. You need to note that for women these are essential part of their lives. For them, you can say again “ looking good is a good business”
If you take a good analysis of the volume of cosmetics (personal care and beauty products) you personally use every day, week, month or year, you would be able to begin to have an idea of the scale of the personal care products business you can get in Nigeria and in Africa.
If you add the traditional aspect of tribal or African make-ups, you could then conclude on how large this industry is.
Another preliminary aspect of this business plan you must decide now before going on is the legal structure of the business. Is this business going to be a Sole Trading business, a Partnership, a Limited liability company, a social organisation like NGOs, etc.
The composition of the entity should also be decided now. Another important thing to decide is the capital outlay. How much is the equity capital, and how much are fellow directors , shareholders, partner etc. going to contribute. All of these are going to be features of the business incorporation details. There must be a partnership deed ready by now if it’s s partnership.
Every business must be registered no matter the type. That’s what gives the business the legal backing to deal with other legal entities. Corporate Affairs Commission (CAC) of Nigeria has an online platform through which you can register your business by yourself.
There is also another platform for those of us who are accredited consultants with CAC for the registration. If my firm (Complete Full Marks Consultants Limited) does it for you, it will be faster. You will have your certificate in 5 days.
Every thing about this legal structure of the entity will be disclosed at the later part of the Business Overview section of this business plan. This part will also show your business goals and objectives. Therefore, this stage is the time to make these decisions.
There are these two economics principle called Business location and localization. Business location here could be anywhere you like to locate your business based on any factor of your choice; it could be politial or social. But business localization is being attracted to a location for one reason or the other. Proximity to market, source of supply, transport, manpower etc. are all factors to consider.
For whatever reason, ensure your business is well located. You have to make your decisions here, bearing in mind that whatever decision you make, the Turnover you generate is what matters.
Are you sure you are through with these preliminaries by now? What about the regulatory bodies. Yeah! The health ministry and agencies, the environmental protection board, laboratory scientist bodies, National Agency for Food and Drug Administration and Control (NAFDAC) etc. are going to be carried along in establishing this business, and their effect; positive or negative are going to be highlighted in this business plan.
COSMETICS STORE BUSINESS PLAN MADE-EASY: GET STARTED:
As a matter of fact, if you have finished with the preliminaries, now, create the first page which is the title page, and another for contents. The next item is Executive Summary and other subject items follow.
The Executive Summary:
This will contain the following:
The summary of the entire content of the business plan, including the business overview – other sections summaries; the purpose of the business plan, operational, marketing and the financial forecasts. It will carry the details of the conclusions reached in the business plan.
This will give every information about the business, and such items would emphasis on the following;
The name and address of the business
The business Mission
The business Vision
The legal structure of the business.
Cosmetics Store Business Plan Made-Easy
Product and Services:
At this section list out your products and services like the following:
Give full details of your management team and their profile here. Their academic qualifications and work experiences are to be highlighted. Mention peculiar attributes of each especially special training, social competencies and personal skills.
Highlight your target market and its segmentation. The segmentation could follow the classes of products and could be those that address such customer classes as follows;
Give details of your marketing approaches and special (strategic) approaches that you hope to employ to win reasonable market share You could adopt the following sales and marketing approach to win customers over;
Opening Ceremony: Opening or lunching the business in a grand style with a party for all.
Sending of introductory letters alongside your business brochure to organizations, households and key stake holders in the business environment
Variety of Stock: Ensure that you have a wide range of cosmetics, beauty and fragrance stuff from different brands at all times.
Make use of attractive hand bills to create awareness and also to give direction to the cosmetics, beauty and fragrance store
Position your signage / flexi banners at strategic places around
Position greeters to welcome and direct potential customers
Create a loyalty plan that will enable you reward your regular customers
Engage on road shows within your neighbourhood to create awareness for the cosmetics, beauty and fragrance store.
Place adverts on community based newspapers, radio stations and TV stations.
Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote your business.
Contact corporate organizations, households, landlord associations and schools by calling them up and informing them about your special offers.
Brand all your official cars and vans and ensure that all your staff members and management staff wear your branded shirt or cap at regular intervals.
Determine and select peculiar payment options that will favour your business. Such options as:
Payment via bank transfer
Payment with cash
Payment via POS
Payment via online bank transfer
Payment via cheque
Payment via bank draft
Cosmetics Store Business Plan Made-Easy
Financials Estimates and Feasibility Analysis:
Cosmetics Store Business Plan Made-Easy Financial Forecasts:
A Cosmetics Store Business Plan needs to include a sales forecast, cash flow forecast and a projected profit or loss account and balance sheet for at least three years. The figures used here must be reasonable and realisable. You must avoid being over optimistic.
This aspect of the plan will show researches made in various aspect of the plan. The outcome will show whether the business will go on or not. If any business does not prove to be feasible here, it will be abandoned or redefined.
Marketing feasibility: This feasibility study will generate the estimated turnovers and how to generate it. Every marketing expenses and associated incomes will be highlighted here.
Supply chain Sensibilities: The supply chain feasibility will highlight the sources of the goods, services or raw materials needed for the production/procurement of the goods and services. Every aspect of the business supply chain including supply of raw materials, related labour, transportation and other logistics will be highlighted here. This narrative generates the business cost of production/sales – Operating cost (OPEX).
Break-even analysis: This aspect of the business plan will give you the turnover/production units that will cover your operating costs. If you know where your turnover equals your total cost – a point of no gain, no loss, then you can now plan how to enhance the business.
This is one of the things our type of business plan will educate you with. Our mentoring or coaching approach will let you know how to analysis your business yourself.
Financial Analysis: This is where the entire business will be mirrored in an estimated financial statements. This is where you will produce the profit or loss account, balance sheet, cash flow statements, accounting ratios, financial assumptions etc.
At any stage of the business, there are evidences of the capacity/strength or weakness of the business. There are also evidences of opportunities and threats to survival on the business
SWOT analysis help in providing professional support in structuring your business. Watching your business strength will help you strategies and go with full strength to realise your goal, while minimising your weaknesses.
The strength of the business will help it maximise the opportunities available especially within and around the business environment, whose combination will help the firm withstand the threats in form of competitions and environmental factors. An inclusive/comprehensive approach/structure of the business will enable the firm achieve its goals.
As you can see, these are what experts like our firm can handle. Truly, a layman can’t do this at all. Get in touch with us today right from the beginning of the business, and your future nightmares will be taken care of today.
These are benchmarks detailing what you have to achieve and at what time. You could set out time table to achieve the following:
DAFDAC and other regulatory bodies registration
Purchase of capital fixed assets – tools
For Further Information:
Contact Complete Full Marks Consultants (CFMC) Limited today to develop your “Cosmetics Store Business Plan Made-Easy”. Our expertise in accounting and management consulting can give you the edge you need to make you stand out from the pile on an investor’s and bank’s desk.
Every of our Business Plan has ICAN stamp affixed. This makes ours professional and authentic; no investor resists CFMC Limited made business plan. Allow us to accompany you at this crucial early stage of your Cosmetics business. At this time you need good knowledge of the business – just let our team develop your Cosmetics Store Business Plan Made-Easy.
For businesses whose turnover is less than N1,000,000.00 ( one million Naira), we give a free 1 year coaching services as long as at the end of the one year we prepare the financial statements and process the tax returns.
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