Business Plan For Beauty Management
Added on 2023-05-08
14 Pages3977 Words272 Views
1
BUSINESS PLAN
FOR
BEAUTY
MANAGEMENT
BUSINESS PLAN
FOR
BEAUTY
MANAGEMENT
2
EXECUTIVE SUMMARY
Ugoval Makeover is a company that has created a brand concept that is aim at providing services
of makeup artist, skin care and manicure/pedicure.
We have decided to set up a makeup and artist business as it is both fashionable and affordable.
We have decided to lease about 700 sqft of shop space close to a reputable hotel. We intend to
provide our service to hotel customers, students and residence of Enugu; this extends to having
makeup, including pedicure and manicure services in the comfort of their rooms in exceptional
cases.
We believe that our business has a high success rate as we are providing services that pamper our
clients. This would also enhance their enjoyment and relaxation.
(i) Detailed summary
Capital plan: this subject has to do with the amount of money needed for the start-up of
the business, in other words it is known as the start-up fund of the project. N304,900
would be needed for the start-up of the business. This would be used for the procurement
of materials and procurement of an office space.
The company would be registered on the Company act of Nigeria which would allow the
firm to carry his or her activities freely and without stress.
The main customer target are high class residence of the Enugu suburb of Abia state
Nigeria, so as to provide to them quality photography. The location of the business would
be along Challenge round about in Enugu, Enugu State as it would afford us to be seen
by our potential and targeted customers.
Over the next coming years the company would increase its management team and staff
team, as they would employ accountants, lawyers and ICT experts etc.
The daily hours of operation is within 8am to 4pm week days where as Makeup artist
which are the field workers are to work on weekends if they have an appointment, and
they would be paid extra wages for it, known as bonuses.
(ii) Mission
To establish Ugoval Makeover as an important centre that represents quality in makeup, skin
care, pedicure/manicure, fitness apparel and accessories. We will accomplish this using high
quality manufacturing makeup tools, a creative marketing program, and a comprehensive
distribution network using both brick and mortar retail outlets, internet presence, and a consumer
catalogue.
EXECUTIVE SUMMARY
Ugoval Makeover is a company that has created a brand concept that is aim at providing services
of makeup artist, skin care and manicure/pedicure.
We have decided to set up a makeup and artist business as it is both fashionable and affordable.
We have decided to lease about 700 sqft of shop space close to a reputable hotel. We intend to
provide our service to hotel customers, students and residence of Enugu; this extends to having
makeup, including pedicure and manicure services in the comfort of their rooms in exceptional
cases.
We believe that our business has a high success rate as we are providing services that pamper our
clients. This would also enhance their enjoyment and relaxation.
(i) Detailed summary
Capital plan: this subject has to do with the amount of money needed for the start-up of
the business, in other words it is known as the start-up fund of the project. N304,900
would be needed for the start-up of the business. This would be used for the procurement
of materials and procurement of an office space.
The company would be registered on the Company act of Nigeria which would allow the
firm to carry his or her activities freely and without stress.
The main customer target are high class residence of the Enugu suburb of Abia state
Nigeria, so as to provide to them quality photography. The location of the business would
be along Challenge round about in Enugu, Enugu State as it would afford us to be seen
by our potential and targeted customers.
Over the next coming years the company would increase its management team and staff
team, as they would employ accountants, lawyers and ICT experts etc.
The daily hours of operation is within 8am to 4pm week days where as Makeup artist
which are the field workers are to work on weekends if they have an appointment, and
they would be paid extra wages for it, known as bonuses.
(ii) Mission
To establish Ugoval Makeover as an important centre that represents quality in makeup, skin
care, pedicure/manicure, fitness apparel and accessories. We will accomplish this using high
quality manufacturing makeup tools, a creative marketing program, and a comprehensive
distribution network using both brick and mortar retail outlets, internet presence, and a consumer
catalogue.
3
By utilizing this multi-channel approach we will be able to reach the niche market for quality
personal care products rapidly and efficiently.
(iii) Objectives
Profit targets: since this is a new business my profit target is not that high but I expect to at least
get a 10% profit margin within the first three months, because of the advertisement which has
been carried out and which will still continue to take place, then after the first three months, the
profit margin will increase further more to 25%-35% then after the 6th month the profit margin
should have been attainable, and should be nothing less than 85 percent of the initial start-up fund
on a monthly basis, during peak seasons such as (Easter, Christmas, new years, thanks giving,
carnival, festival etc) it could rise to as 100%.
Sales targets: our targeted customers are wedding, birthdays, dedications, and anniversary
celebrant, who know the values of their story and how it affects their yesterday and reflects their
tomorrow. The peak seasons for most of this even are Christmas, new years, Easters, thanks given
most of this fall within September to January where people mostly needs makeup. But apart from
the peak seasons other dull months, burial, birthdays, dedication can also be used as a sales target
in other to meet the stipulated profit margin
1.1 MARKET POSITION
The market position in to incline to those who knows the value of makeup and who can afford
us, getting the quantity is good, but quality we all know is far much better than quantity, the
proposed business is offering quality makeup not the everyday makeup you see on the road, the
proposed business captures the customers story and moment, given them another chance to relief
their moments when looking at the pictures. That’s a rare thing to do. So our targeted customers
put us in a strong market position as there are thousands of people doing burial, wedding,
dedications, birthdays, anniversary or other activities on a monthly basis around Ibadan.
Business Strategy: The business strategy my firm chooses to rely on is “customer retention
strategy” (CRS) which simply means the “customers are always right” in other to make profits
in business you have to put the customer’s needs and wants before yours, they nag like your wife
but they are the main reason you are in business. This strategy will help the organization to retain
its old customers and acquire new customers in the process via recommendation or otherwise.
By utilizing this multi-channel approach we will be able to reach the niche market for quality
personal care products rapidly and efficiently.
(iii) Objectives
Profit targets: since this is a new business my profit target is not that high but I expect to at least
get a 10% profit margin within the first three months, because of the advertisement which has
been carried out and which will still continue to take place, then after the first three months, the
profit margin will increase further more to 25%-35% then after the 6th month the profit margin
should have been attainable, and should be nothing less than 85 percent of the initial start-up fund
on a monthly basis, during peak seasons such as (Easter, Christmas, new years, thanks giving,
carnival, festival etc) it could rise to as 100%.
Sales targets: our targeted customers are wedding, birthdays, dedications, and anniversary
celebrant, who know the values of their story and how it affects their yesterday and reflects their
tomorrow. The peak seasons for most of this even are Christmas, new years, Easters, thanks given
most of this fall within September to January where people mostly needs makeup. But apart from
the peak seasons other dull months, burial, birthdays, dedication can also be used as a sales target
in other to meet the stipulated profit margin
1.1 MARKET POSITION
The market position in to incline to those who knows the value of makeup and who can afford
us, getting the quantity is good, but quality we all know is far much better than quantity, the
proposed business is offering quality makeup not the everyday makeup you see on the road, the
proposed business captures the customers story and moment, given them another chance to relief
their moments when looking at the pictures. That’s a rare thing to do. So our targeted customers
put us in a strong market position as there are thousands of people doing burial, wedding,
dedications, birthdays, anniversary or other activities on a monthly basis around Ibadan.
Business Strategy: The business strategy my firm chooses to rely on is “customer retention
strategy” (CRS) which simply means the “customers are always right” in other to make profits
in business you have to put the customer’s needs and wants before yours, they nag like your wife
but they are the main reason you are in business. This strategy will help the organization to retain
its old customers and acquire new customers in the process via recommendation or otherwise.
4
2.0 HISTORY OF BUSINESS
Since this is a new business, already I have started advertising myself and my products/services,
so people around my vicinity knows my company and what we do. It is not easy starting up
anything new, it requires time and effort, as to that claim, the proposed site where the business
would be located has already been monitored and examined by myself and experts on the basis
of hoe profitable that site would be for my business, and the landmark is just perfect for this kind
of business.
Finally, the estimated project for the business was around N500,000 thousand, the proposed
equipment for the business has already being bought online using online shopping mechanism
such as ebay.com and amazon.com, but they are yet to be delivered because of the distance.
(i) Business Overview
Since this is a newly start up business the size of the company for now is small, I would be the
only one responsible at the moment until after the projected 6 months and the personal loans have
all being paid off, then a receptionist would be acquired and an assistant makeup artist with more
skills and a good customer relationship.
The growth of the organization at the beginning will be stable but over time there would be a
rapid increase in customer thereby causing exponential growth.
2.1 COMPANY PLAN OVERVIEW
(i) Type of business
My business is Makeup artist
(ii) Service Descriptive
Makeup artist
Skin care
Manicure and pedicure
Makeup artist/skin care description: Within the makeup artist and skin care line, we will offer
a wide array of services including eye makeup removers, cleansing creams, facial scrubs/masks,
and body lotions. Our services are fashionable and affordable.
Manicure and pedicure: Manicure and pedicure appeals to the masses- women, girls, men and
even children. The services include:
2.0 HISTORY OF BUSINESS
Since this is a new business, already I have started advertising myself and my products/services,
so people around my vicinity knows my company and what we do. It is not easy starting up
anything new, it requires time and effort, as to that claim, the proposed site where the business
would be located has already been monitored and examined by myself and experts on the basis
of hoe profitable that site would be for my business, and the landmark is just perfect for this kind
of business.
Finally, the estimated project for the business was around N500,000 thousand, the proposed
equipment for the business has already being bought online using online shopping mechanism
such as ebay.com and amazon.com, but they are yet to be delivered because of the distance.
(i) Business Overview
Since this is a newly start up business the size of the company for now is small, I would be the
only one responsible at the moment until after the projected 6 months and the personal loans have
all being paid off, then a receptionist would be acquired and an assistant makeup artist with more
skills and a good customer relationship.
The growth of the organization at the beginning will be stable but over time there would be a
rapid increase in customer thereby causing exponential growth.
2.1 COMPANY PLAN OVERVIEW
(i) Type of business
My business is Makeup artist
(ii) Service Descriptive
Makeup artist
Skin care
Manicure and pedicure
Makeup artist/skin care description: Within the makeup artist and skin care line, we will offer
a wide array of services including eye makeup removers, cleansing creams, facial scrubs/masks,
and body lotions. Our services are fashionable and affordable.
Manicure and pedicure: Manicure and pedicure appeals to the masses- women, girls, men and
even children. The services include:
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