business plan for skincare products

How To Write a Business Plan for Skin Care in 9 Steps: Checklist

By henry sheykin, resources on skin care.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan

Are you considering starting a skin care business but don't know where to start? Look no further! In this blog post, we will guide you through the process of writing a business plan specifically tailored for the skin care industry. With the global skin care market expected to reach $189.3 billion by 2025 , now is the perfect time to enter this thriving industry and offer customers premium skin care products and personalized treatments.

Research the skin care industry: Before diving into starting your own skin care business, it is essential to understand the current market trends, consumer demands, and potential growth opportunities. Conduct in-depth research to gather insights about the industry as a whole and identify any gaps or niches you could fill.

Identify your target market: Once you have a clear understanding of the skin care industry, it's time to determine your target market. Consider factors such as age, gender, skin type, and specific skin concerns to ensure that your products and services meet the needs of your ideal customers.

Conduct a competitor analysis: To stand out in the competitive skin care market, it's crucial to analyze your competitors. Identify their strengths, weaknesses, pricing strategies, and unique selling propositions. This analysis will help you differentiate your business and develop a strategy to gain a competitive edge.

Define your unique selling proposition: What sets your skin care business apart from others? Determine your unique selling proposition (USP) and clearly communicate it to your target market. Whether it's offering personalized skin care routines, using natural and safe ingredients, or innovative product formulations, make sure your USP appeals to your ideal customers.

Develop a pricing strategy: Decide on a pricing strategy that is competitive yet profitable. Consider the cost of ingredients, production, packaging, and any additional services you offer. Price your products and services in a way that reflects their value and takes into account your target market's purchasing power.

Determine your startup costs and funding needs: Starting a skin care business requires investment in products, equipment, marketing, and more. Calculate your startup costs to understand the financial requirements and decide how you will fund your business. Whether it's through personal savings, loans, or investors, having a clear idea of your funding needs is essential.

Create a marketing and sales strategy: Develop a comprehensive marketing and sales strategy to promote your skin care business. Utilize various marketing channels such as social media, influencer collaborations, and partnerships with beauty professionals. Plan your promotional activities, advertising campaigns, and engage with your target market to generate brand awareness and attract customers.

Outline your organizational structure: Determine the organizational structure of your skin care business. Will you be a sole proprietor, partner with others, or establish a limited liability company? Also, consider roles and responsibilities within your business, whether it's hiring employees or outsourcing certain tasks.

Establish key business goals and objectives: Set clear and specific business goals and objectives to track your progress and measure success. Whether it's achieving a certain number of monthly subscribers, expanding to new markets, or increasing customer satisfaction, having well-defined goals will guide your decision-making and keep you focused on growth.

No matter where you are in the process of starting your skin care business, following these nine steps and creating a comprehensive business plan will lay a solid foundation for success. With a growing industry and increasing demand for premium skin care products, the opportunities are limitless. Start your journey today and embark on the path to becoming a leader in the skin care industry!

Research The Skin Care Industry

Before starting a skin care business, it is crucial to conduct thorough research on the industry as a whole. Understanding the market trends, consumer preferences, and industry regulations will help you make informed decisions and position your business for success.

Here are some important aspects to consider during your research:

• Market Size and Growth: Identify the size and potential growth of the skin care industry. Look for reliable industry reports, market studies, and statistics to understand the current market value, trends, and forecasts.
• Consumer Demographics: Analyze the target audience for skin care products. Consider factors such as age, gender, income level, and lifestyle choices. Understanding your potential customers will help tailor your products and marketing strategies effectively.
• Product Innovation and Trends: Keep up with the latest advancements and trends in the skin care industry. Stay informed about new ingredients, technologies, and product categories to distinguish yourself from competitors and meet the evolving needs of customers.
• Regulatory and Legal Requirements: Familiarize yourself with the regulatory landscape governing the skin care industry. Understand the requirements for product safety, labeling, marketing claims, and compliance with industry standards. Complying with regulations will protect your customers and your business reputation.
• Distribution Channels: Explore different distribution channels available for skin care products, such as retail stores, e-commerce platforms, spas, or direct selling. Evaluate each channel's advantages and disadvantages in terms of reach, cost, and customer experience.
• Attend industry conferences, trade shows, and seminars to network and gain insights from experts in the skin care industry.
• Join industry associations and forums to connect with other professionals and stay updated on industry news and trends.
• Subscribe to industry publications, blogs, and newsletters for regular updates on the latest happenings in the skin care sector.

Identify Your Target Market

When starting a skin care business, it is crucial to identify your target market. This is the specific group of consumers who will be most interested in your products and services. By understanding their needs, preferences, and purchasing behaviors, you can tailor your offerings to effectively meet their requirements and create a loyal customer base.

To identify your target market, consider the following:

• Demographics: Understand the key characteristics of your potential customers, such as age, gender, income level, and location. This information will help you create marketing campaigns that resonate with your target audience.
• Psychographics: Dive deeper into your customers' interests, values, lifestyles, and attitudes towards skin care. This knowledge will allow you to create personalized and compelling messaging.
• Needs and Pain Points: Identify the specific skin concerns, challenges, or desires that your target market has. This will guide you in developing products and services that address their unique needs.
• Complementary Products: Consider the other brands and products your target market may be using or interested in. Collaborating with or incorporating these products into your offerings can enhance your market penetration.

Tips for Identifying Your Target Market:

• Conduct market research surveys, interviews, or focus groups to gather valuable insights directly from your potential customers.
• Monitor social media platforms, forums, and beauty-related websites to observe discussions and trends related to skin care.
• Keep an eye on competitors' customer bases and understand their strengths and weaknesses.
• Utilize market segmentation techniques to divide your target market into distinct groups based on shared characteristics.
• Continuously evaluate and update your understanding of your target market to stay relevant in a fast-changing industry.

Conduct a Competitor Analysis

When starting a skin care business, it is essential to conduct a thorough competitor analysis. This analysis will help you understand your competition, identify their strengths and weaknesses, and determine how you can differentiate your business in the market.

Here are a few key steps to follow when conducting a competitor analysis:

• Identify your direct competitors: Make a list of companies or brands that offer similar skin care products or services. This could include both local and international competitors.
• Study their products and services: Analyze the range of products and services your competitors offer. Look for unique features, quality, pricing, and any other factors that set them apart.
• Evaluate their marketing strategies: Examine your competitors' marketing and advertising efforts. Look at their websites, social media platforms, and online presence. Take note of their messaging, target audience, and promotional tactics.
• Assess their strengths and weaknesses: Identify your competitors' strengths, such as their reputation, customer loyalty, or innovative product offerings. Additionally, identify their weaknesses that you can leverage to gain a competitive advantage.
• Compare pricing and value proposition: Analyze your competitors' pricing strategies and examine the value they offer to customers. Determine how your pricing and value proposition compare in order to offer a competitive advantage.

Tips for conducting a competitor analysis:

• Use online tools: Utilize online tools like SEMrush and SimilarWeb to gain insights into your competitors' website traffic, online visibility, and keywords they target in their online marketing efforts.
• Visit trade shows and conferences: Attend industry trade shows and conferences to observe your competitors' presentations, product displays, and marketing strategies.
• Survey your target audience: Conduct surveys or interviews with your target market to gather feedback about your competitors. This will help you understand their preferences and identify areas where your competitors fall short.

By conducting a comprehensive competitor analysis, you can gain valuable insights to develop a unique and compelling value proposition for your skin care business. This knowledge will help you position your products and services effectively in the market and attract your target customers.

Define Your Unique Selling Proposition

In order to stand out in the competitive skin care industry, it is crucial to define your unique selling proposition (USP). This is what sets your business apart from other skincare brands and attracts customers to choose your products and services.

When defining your USP, consider the following:

• Identify the specific benefits and outcomes that your products and services offer to customers. Highlight what makes them different and better than what is already available in the market.
• Understand your target market's needs and preferences. Tailor your USP to address their pain points and provide a solution that they will find appealing.
• Emphasize the use of safe and tested ingredients that are suitable for different skin types. This demonstrates your commitment to quality and customer satisfaction.
• Focus on personalization and customization. Offer products and services that are tailored to each customer's unique skin needs and provide a personalized skin care routine.
• Highlight the value-added services you provide, such as monthly advice and informative emails that help customers maintain healthy skin.

Tips for Defining Your Unique Selling Proposition:

• Research your competitors to understand their USPs. This will help you differentiate yourself and identify gaps in the market.
• Collect feedback from potential customers to understand what they are looking for in a skin care brand. Use this information to refine and strengthen your USP.
• Consider partnering with dermatologists or skin care experts to add credibility and expertise to your brand.
• Stay up-to-date with industry trends and incorporate innovative ingredients or techniques that give your products a unique selling point.
• Communicate your USP clearly and consistently through your branding, marketing materials, and customer interactions.

By defining a strong and compelling USP, you can differentiate your skin care brand in a crowded marketplace and attract customers who are looking for specialized and personalized solutions. Take the time to understand your target market's needs and preferences, and tailor your USP accordingly. Through effective communication and consistent delivery of your unique value proposition, you can build a loyal customer base and grow your business.

Develop A Pricing Strategy

When it comes to pricing your skin care products and services, it's important to strike a balance between profitability and affordability for your customers. Here, we will discuss how to develop a pricing strategy that not only covers your costs but also appeals to your target market.

Determine your production costs: Start by calculating the costs associated with producing your skin care products. This includes raw materials, packaging, labeling, and any other overhead expenses. Understanding your production costs will give you a clear idea of how much to charge for each product.

Consider your target market: Your pricing strategy should align with the expectations and preferences of your target market. If you're targeting a high-end, luxury clientele, you may be able to charge premium prices. On the other hand, if your target market is more cost-conscious, you'll need to find a balance between quality and affordability.

Research your competitors: Conduct a thorough competitor analysis to see what other skin care brands and businesses are charging for similar products and services. This will give you an idea of industry standards and help you position yourself in the market.

Tips for developing your pricing strategy:

• Consider offering different pricing tiers or packages to cater to different customer budgets and needs.
• Offer discounts or promotional pricing for first-time customers or during special occasions to attract new customers.
• Consider the perceived value of your products and services and price accordingly. If you are using high-quality, natural ingredients, your products may warrant a higher price.
• Regularly review and adjust your pricing strategy based on customer feedback and market trends.

By taking these factors into account and continuously evaluating your pricing strategy, you can ensure that your skin care business remains competitive and profitable while meeting the needs of your target market.

Determine Your Startup Costs And Funding Needs

Before launching your skin care business, it’s crucial to determine your startup costs and funding needs. This step will help you understand how much investment is required to get your business off the ground and how you will finance your venture. Here are some important factors to consider:

1. Research and list all expenses: Begin by researching and making a comprehensive list of all the expenses associated with starting and running your skin care business. This includes not only the cost of manufacturing or sourcing your products but also expenses such as licensing and permits, renting or purchasing a workspace, marketing and promotional costs, and administrative expenses.

• Create a detailed financial spreadsheet to estimate costs and keep track of your expenses.
• Contact suppliers and manufacturers to get accurate pricing information.
• Factor in marketing costs for launching your subscription model and attracting customers.

2. Calculate your funding needs: Once you have a comprehensive list of expenses, calculate the total amount of funding you will need to start and sustain your skin care business until it becomes profitable. This will include not only the startup costs but also the estimated monthly expenses for at least the first year of operation.

3. Explore funding options: There are various funding options available to entrepreneurs, including personal savings, loans, grants, crowdfunding, and investment from friends and family. Research the pros and cons of each option, and determine which ones align with your business goals and financial situation.

4. Develop a financial plan: Once you have identified your funding needs and explored funding options, develop a detailed financial plan that outlines how you will secure the necessary funding. This plan should include a breakdown of the funding sources, repayment terms if applicable, and the timeline for securing the funds.

Determining your startup costs and funding needs is a critical step in the business planning process. It will help you understand the financial requirements of your skin care business and ensure that you have the resources to launch and sustain your venture. By conducting thorough research and developing a comprehensive financial plan, you will be better equipped to navigate the financial aspects of starting your business.

Create A Marketing And Sales Strategy

A comprehensive marketing and sales strategy is crucial for the success of your skin care business. It helps you identify your target audience, reach out to potential customers, and differentiate your products from competitors in the market. Here are the key steps to create an effective marketing and sales strategy:

• Identify your target audience: Determine who your ideal customers are, considering factors such as age, gender, lifestyle, and skin concerns. This will allow you to tailor your marketing messages and product offerings to meet their specific needs.
• Develop a brand identity: Create a strong and memorable brand that reflects the unique value proposition of your skin care products. This includes designing an eye-catching logo, selecting brand colors and fonts, and developing a compelling brand story.
• Build an online presence: In today's digital age, having a strong online presence is essential for attracting customers. Set up a professional website that showcases your products, provides educational content about skin care, and allows customers to easily purchase your products online.
• Utilize social media: Leverage popular social media platforms such as Instagram, Facebook, and Twitter to connect with your target audience. Share engaging content, including skincare tips, product tutorials, and before-and-after photos to generate interest and build a loyal community of followers.
• Implement influencer marketing: Collaborate with popular beauty influencers who have a strong following and align with your brand values. Their recommendations and endorsements can greatly enhance the visibility and credibility of your skin care products.
• Offer promotions and incentives: Give potential customers a reason to try your products by offering introductory discounts, free samples, or loyalty programs. These can help drive sales and encourage repeat purchases.
• Provide exceptional customer service: Make customer satisfaction a top priority by promptly addressing inquiries, offering personalized recommendations, and resolving any issues or concerns. Positive word-of-mouth is a powerful marketing tool and can significantly impact the growth of your business.

Marketing and Sales Strategy Tips:

• Stay up-to-date with current skincare trends and incorporate them into your marketing campaigns.
• Regularly analyze and track the effectiveness of your marketing efforts to identify what strategies are working best.
• Consider partnering with spas, salons, or other beauty-related businesses to expand your reach and customer base.
• Invest in professional product photography to showcase the quality and effectiveness of your skincare products.

By following these steps and implementing a well-rounded marketing and sales strategy, you can effectively promote your skin care premium membership model and attract loyal customers who will benefit from your tailored products and expert advice.

Outline Your Organizational Structure

When it comes to building a successful skin care business, having a well-defined organizational structure is key. This structure will outline the different roles and responsibilities within your company and help ensure that everyone is clear on their objectives and how they contribute to the overall goals of the business.

One of the first steps in outlining your organizational structure is to determine the different departments or functions that are necessary for your skin care business. These may include areas such as product development, marketing, sales, customer service, and operations. Identify the key roles within each department and the responsibilities associated with each position.

Tips for outlining your organizational structure:

• Consider the size and scale of your business: Depending on the size of your operation, you may have more or fewer departments and positions. Make sure your organizational structure reflects the needs of your business.
• Clarify reporting relationships: Clearly define who reports to whom within your organizational structure. This will help streamline communication and ensure that everyone knows who to go to for guidance and decision-making.
• Define roles and responsibilities: Clearly outline the expectations and responsibilities for each position within your organizational structure. This will help avoid confusion and ensure that everyone is clear on their responsibilities.
• Consider future growth: As your skin care business grows, your organizational structure may need to evolve. Plan for future growth and think about how your structure may need to adapt to accommodate additional employees or departments.

By outlining your organizational structure, you establish a clear framework for how your skin care business operates. This can help foster a sense of accountability, streamline decision-making processes, and ultimately contribute to the overall success of your business.

Establish Key Business Goals And Objectives

Establishing key business goals and objectives is crucial for the success of your skin care premium membership model. Without clear goals and objectives, it will be difficult to measure your progress and make informed decisions for the future of your business.

Firstly, identify the long-term vision and mission of your skin care business. What do you want to achieve in the next 5 to 10 years? Your goals should align with this vision and serve as a roadmap for growth and expansion.

Financial goals are important for any business. Determine the level of revenue and profitability you aim to achieve within a certain timeframe. This will help you set realistic expectations and create effective strategies to achieve those targets.

• Break down your financial goals into smaller, actionable targets for each quarter or year. This will make it easier to track your progress and identify areas for improvement.

Consider establishing customer retention and satisfaction goals as well. Focus on building a loyal customer base by providing exceptional products and personalized experiences. Set measurable objectives, such as increasing customer satisfaction by a certain percentage or reducing customer churn rate.

An essential aspect of your business goals should be expanding your market reach . Identify opportunities to reach new customers and explore different distribution channels. This could include partnering with beauty salons, spas, or online influencers to promote your products and services.

• Stay updated with industry trends and innovations to identify potential growth opportunities.

Lastly, consider setting employee development goals . Your team plays a vital role in delivering exceptional customer experiences and driving business growth. Invest in training programs and create a supportive work environment to foster their growth and motivate them to achieve their full potential.

By establishing clear business goals and objectives, you will be able to measure progress, stay focused, and adapt your strategies as needed. Regularly review and reassess your goals to ensure they are aligned with the changing market dynamics and evolving needs of your customers.

Writing a business plan is a crucial step in launching a successful skin care premium membership model. By following these 9 steps, you can ensure that your business is well-prepared and has a clear strategy to thrive in the competitive skin care industry.

Researching the market, identifying your target audience, and analyzing competitors will allow you to position your business effectively. Defining a unique selling proposition, developing a pricing strategy, and understanding your startup costs and funding needs are essential to financial success.

In addition, creating a comprehensive marketing and sales strategy, outlining your organizational structure, and establishing key business goals and objectives will help you build a solid foundation. By offering personalized skin care products and advice through a premium membership model, you can provide valuable services to customers and keep them engaged and satisfied.

Overall, writing a business plan is about setting a roadmap for success and ensuring that you have a clear vision for your skin care business. Take the time to carefully consider each step and tailor it to your specific needs. With a well-crafted plan, you will be one step closer to achieving your goals and fulfilling the needs of your customers in the skin care industry.

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Essentials of a Cosmetics Business Plan: How to Write One

• Written by 440 Industries
• Business Planning , Cosmetics , Fashion Merchandise
• September 21, 2021

The cosmetic business umbrella has three vital areas. They include color cosmetics, aka makeup, fragrance, and skincare. Although these areas are closely related, they fall under different consumer personal cosmetic routines. In this blog, we will discuss the proper way to develop your cosmetic business plan. Irrespective of the type of cosmetic business you want to start, this foolproof guide may just increase your chances of success.

Before we get started, how big is the cosmetic industry? In 2020, the value of the trade stood at 483 Billion USD. The numbers escalated steeply in 2021, bringing the value of the cosmetic industry at approximately 511 Billion USD. Better still, the annual compound growth rate of the sector stands at 4.75%, meaning that the value of the cosmetic industry could rise to 716 Billion USD by 2025.

• Introduction

Cosmetic Industry Consumer Trends

Is a cosmetic business plan necessary, essentials of writing a cosmetics business plan.

The consumer trends in the cosmetic industry are nothing short of heartwarming. With pop culture and good grooming being an in-thing in the current fashion landscape, those in the cosmetic business are making fortunes. Generally, today’s consumers are open to spending a little more just to get high-quality products.

Moreover, the purchasing power of emerging nations is a force to reckon. Cosmetics are today more globalized than ever before, making the landscape favorable for international cosmetic companies. Locals in various countries are receptive to buying high-quality products from these companies that are not available locally. 

As you can tell from the above statistics, cosmetic products have a favourable audience willing to spend what it takes to look their best. Hence, you may be wondering whether developing a cosmetic business plan is worth the effort. Well, it is. Even with a growing demand for cosmetics, you need a plan to expand your exposure and make the most of the serious business opportunities.

Think of your business plan as a vital strategic document that dictates where you should focus your resources, time, and energy.  Generally, the program gives you a clear view of the game and what you intend to achieve. The tool will come in handy whenever you need to make crucial decisions that may make or break your venture. For most serious entrepreneurs, a business plan helps ensure that the everyday running of their ventures is as smooth and straightforward as possible.

Running a business requires you to make strategic moves. The cosmetic venture is no exception. Setting up a detailed strategy and ensuring your cosmetic business plan covers all ground is paramount. 

Here are essential components you must include in the plan:

Business Mission and Vision

Your mission statement is the first thing to include in your cosmetic business plan. Think of it this way; the statement will be a navigation tool that gives a story about your plans for the future of your company. Moreover, the statement indicates the purpose of your work, making it simpler to identify your company goals and remain committed to achieving your vision.

Generally, the mission and vision statement is the bedrock of your business. It should play three vital roles, which include:

• Communicate the purpose of your venture
• Give direction to your development strategy
• Identify measurable company objectives you can use to gauge the success of your business strategy

Identify Your Business Niche and Audience

There is a whole world of cosmetic products out there. Consequently, you need to define your unique path into the industry to know your target audience . For instance, if you opt to specialize in good grooming products, the chances are that your target consumers are young people and the business class. That said, it will be easy for you to analyze their likes and preferences. Most importantly, you can study their trends and learn how they shop. This is crucial information you can use to move your venture to the next level.

Once your cosmetic business plan focuses on a specific audience, things will suddenly begin to fall in place. You will now have a good idea about the marketing strategies that are likely to work. In the end, if you choose skincare for seniors as your business niche, you may not want to use marketing strategies that mainly work for the youth.

Choose Your Range Of Products

Again, there is a whole world of beauty products available in the market. For instance, if you focus on natural products as your niche, it makes sense to centre your cosmetic business plan on products that fit well together. Most importantly, these products must attract the attention of your target customers.

Launching one product and exclusively selling it is not all doom. However, you may want to consider a bit of product diversity, especially if you are just getting started. Cross-selling or up-selling products that fall under the same classification may just be a good idea. Remember that according to current consumer trends, people use multiple cosmetics in combination. Focusing on one product alone may have profound financial implications that a young business may not bear.

Cosmetics Business Plan; Know the Competition

The next important step of developing your cosmetic business plan is to identify your competitors. The cosmetic industry is ripping fortunes. Hence it makes sense to know the movers and shakers within your chosen product niche . The idea is to know everything about them. Yes, everything about them. This includes their product range, their prices, marketing strategies, and more. This information will help you decide what to do to remain unique and keep pace with respected names within your line of business.

Develop a Manufacturing Strategy

So, do you intend to produce your unique range of cosmetic products? If you do, you need to have a manufacturing strategy. Typically, there are two options you have. One, you could opt to manufacture the products in person from your lab. Two, you could contract a manufacturer to do the hard work on your behalf. Either way, it is crucial to have a plan that ensures a smooth stream of products into your business.

Each of the two strategies has profound pros and cons. For instance, it’s easy to manage quality assurance when producing your cosmetics from your lab. On the downside, this can be a financially challenging option. On the other hand, working with a manufacturer may be cheaper. In this case, it is essential to plan on vital aspects such as logistics, contractual obligations, and finances. Irrespective of your choice, make sure it works well for your business model and aligns with your mission and vision.

Spruce Up Your Retail Strategy

Here’s the deal, you are likely not to grow to your best potential if you opt to sell directly to your consumers and in person. Even if you are a top-notch digital marketer, expanding your profit margins may be an uphill task if you opt not to outsource. Naturally, it is easier to hit your profit goals when you distribute your stock to retailers and e-stores that match your product niche.

Again, nothing is as important as developing a retail strategy that aligns with your product niche. At this point, you know your targeted customers, your competitors, and most importantly, your chosen range of products. With this in mind, deciding where your cosmetics fit naturally should not be a hurdle.  Having a solid retail strategy is an integral part of ensuring the success of your cosmetic business plan.

Cosmetics Business Plan; Keep an Eye on Financing 

If your goal is to create a cosmetic business empire, it may not be necessary to have a million dollars in capital. However, having the funds to keep your operations running is as important as having a solid cosmetic business plan. Assuming you already have your capital, the next step is to analyze the financial implications of various essential actions, including your manufacturing and retail strategy. The idea is to have a grip on your funds, and by extension, ensure smooth operations.

There are different ways to finance a business . One, you could opt for a safer option and depend on loans from your friends or family. Two, you could turn to a financial institution such as a bank for the much-needed resources. Three, you may choose to involve investors and split the profits. The essential thing is to have a financial plan that keeps your business doors open without significantly impacting your bottom line.

Develop a Clear and Detailed Financial Prognosis

With a detailed financial prognosis, it should now be easier to get your business up and rolling. Think of it this way, your business may not be “thriving,” but you will have a draft to make your deal attractive to investors. Furthermore, even with no sales, you will have a clear plan of the steps you will take and how you will rip profits. Generally, a financial prognosis will give you a good idea of your brand’s potential.

As the name implies, a financial prognosis is a forecast or rather an opinion beforehand. Ideally, it is a systematic projection of the expected economic trends through financial statements. You need to have some past business financial, cash flow, and fund-flow records that allow you to predict what you can achieve in a future date if you follow a specific cosmetic business plan.

A detailed financial prognosis must include the following elements:

• Pro-forma income statements
• Pro-forma balance sheets
• Business cash budget

A Great Online Class: Introduction to Professional Makeup Techniques by Domestika

If you are interested in learning more about professional makeup techniques for your business, we recommend taking a look at the online class “Introduction to Professional Makeup Techniques” by Domestika.

The course is currently under promotion, but you can use the discount code: T_BROWNLEES-PROMO to get an additional 10% discount on your purchase. This online class offered by Domestika, at a very inexpensive price covers all you need to know to create both bold, and understating looks by mastering makeup techniques. If you apply to the course through the link below you’ll be supporting 440 Industries, and we thank you for it!

Opinions matter

There you have it, a detailed guide highlighting the essentials of a cosmetic business plan. We hope that our tips are instrumental in helping you make or upgrade your current strategies. As we part ways, there are three crucial things to remember. First, this is not a standard guide that works for every business. If you make your business plan and fail to bear the intended fruit, all is not lost; develop a personalized plan. Second, mistakes are an essential part of growing as an entrepreneur. They help you identify areas that need improvement. Third, it’s never a bad idea to seek professional assistance from experts in the field, especially once your business starts booming.

If you’re interested in reading up more about successful strategies to market your fragrance business, we’ve got a post right on that. You’ll also find a list of the most profitable, expensive, and successful fragrances sold worldwide. Here’s the link!

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Ultimate Guide to Skincare Industry Business Plan- Download Free PDF, PPT

Tamana Gupta

Are you passionate about skincare? Do you have any innovative concepts for new products? Why not start your own skincare company? The skin care market is increasing quickly. By 2025, the global skincare market is expected to reach $189 billion, according to studies. How can you get a share of this saturated market? With proper research and planning, you can launch your skincare line and enjoy the profits of your new venture. Go through our skincare industry business plan

How to start Skincare Business Plan?

You will need a clear vision, a well-written business strategy for beauty items. And to have invested some money, time, and effort as the founder of a start-up skincare brand. But how do you begin that crucial business plan, and what information should it include?

We summaries the 10 essential slides that as the founder of skincare you must consider in order to build a business plan for a cosmetics company in this blog post. This is vital reading for anyone interested in learning how to launch a skincare business because it informs you of the specific considerations and planning requirements.

Being well organized is necessary to run a skincare business. A solid skincare industry business plan that guides you through each of the key areas of your cosmetics company is required. The good news is that your business plan doesn't have to take up as much space as a thesis. In fact, the shorter it is, the easier it will be for you to read, understand, and refer to in the future.

Let’s get started with the essential slides to ace the Skincare Business Plan.

# Start-up cost summary for the skincare industry

This slide provides information about start-up expenditures that incur during the process of establishing a skincare store. Such as start-up ownership, legalities, and other expenses associated with the store. It will also highlight how the company will utilize its funds.

A startup cost analysis help entrepreneurs can determine all the costs related to establishing their business, from one-time expenditures like equipment purchases to continuing costs like rent and personnel. This information is essential for developing a realistic business plan and budget.

Further, showcase the utilization of funds in the form of a bar graph for the audience of business plan.

Download this Template Now

# Implementing effective skincare solutions by analyzing the market gap

This slide covers the problem associated with the skincare industry. And how the company will implement an effective solution to overcome the existing gap. It also helps to identify unexplored areas that other businesses in the same space are not serving currently.

In this slide, you can highlight the major concerns that are being faced by the customers and mention the market gap. Further, you can provide the business statement to overcome the market gap.

This slide will make the skincare industry business plan more interesting for the users of a plan, who have a direct or indirect interest in the business.

# Product categories offered by skincare cosmetics

This slide aims to provide a glimpse of the key product categories offered by skincare cosmetics that are designed to improve the appearance and feel of skin. It includes products such as sunscreen, facial oil, moisturizers, face wash, cleansers, and serum.

Your business plan's section on products and services helps the reader understand why you're in business, what you sell, how you compete with existing options, or how you fill a market gap that no one else is filling.

So, highlight the company’s various product lines, including its key benefit.

# Analyzing key success factors to strategize the skincare business

This slide covers the essential points to be considered while selling skincare products in the market. These are understanding prospects' needs, focusing on outcomes and emotions, and building a solid brand that is required for a company to compete in its target markets.

Further highlighting a few of the major success factors can instantly draw the audience’s attention and can aid in influencing their decision.

# Key statistics associated with the skincare industry

This slide highlights the thorough assessment of a market within the skincare industry. It will help in getting valuable insights and projecting the success that the company expects while introducing its brand and its products to consumers within the market.

Further, highlight the skincare revenue in the form of a bar graph in this slide. Also, mention the skincare demand in the US.

# Key statistics associated with the skincare industry (cont.)

Further, highlight the top skincare products, and the major highlights that are to be considered while getting into the skincare industry.

# Key market trends shaping the skincare industry

This slide highlights the key market trends that have the potential to change the current market scenario, as well as ways that the company can stay ahead of competitors. with these trends, the company will look for innovative or new ways of providing its products and services.

So, some of the key market trends mentioned in this slide are the Growth of the Skincare Segment, Personal Care Awareness Among People of All Ages, and Technological Developments.

Also, briefly mention the description of each market trend shaping the skincare industry.

# Determining growth drivers for the skincare industry

This slide caters to details about various growth drivers resulting in the skincare industry’s progress such as shifting consumer attitudes toward beauty products, the rise of conscious consumerism, emerging e-commerce purchases, etc., and also gives confidence in the organization to achieve business goals.

Every person who is going through a skincare industry business plan is interested in knowing the growth factors as these factors influence their decision towards the business.

# Assessing target customer profile for skincare cosmetic

This slide covers an assessment of how the company's products will fit into a particular market. And where they will acquire the most traction with customers. It includes sellers who want to sell their products and buyers who want to purchase the products from the company's platform.

Basically, three main target markets considered are Skincare Retailers/Stores, Men of Age 18 and Above and Women of Age 18 and Above.

Further to give more insight, highlight the description of each and also mention the key statistics of each head.

This will give a broad perspective to the viewer about the growth of the company.

# Effective go-to-market strategy to increase sales and revenue

The purpose of this slide is to implement an effective go-to-market strategy for bringing the company's products or services to an end customer taking into consideration elements like sales, positioning, and price.

Further, highlighting the marketing strategy in the business plan. It will make the investor aware of the strategies that would be implemented by the marketing team to increase sales turnover.

Moreover, the strategies mentioned in the slide are sales strategy, positioning strategy, pricing strategy, etc. Further, mention each strategy's detail to give the audience an overview.

Wrapping-Up

For the Skincare Industry business plan, you may find all the data you need to comprehend the market, the industry, and both at once in PowerPoint. But not everyone is skilled at organizing and producing the essential components of a successful business strategy.

Now, it's up to us to play it. A team of researchers and designers collaborate on projects at SlideTeam to develop content that complies with client demands. However even the same business plan ppt can be modified to meet a person's specific professional requirements.

Is skincare is a growing industry?

In 2023, the Skin Care segment will generate US$21.09 billion in revenue. The market is anticipated to expand by 3.42% yearly (CAGR 2023-2027).

How should a business plan for a skin care company be written?

Executive Summary

Give a brief overview of the skin care industry.

Describe the kind of skin care company you run.

Describe your direct competitors. Highlight a general description of your target audience.

Provide a brief overview of your marketing plan.

Provide a summary of your financial strategy.

Who is the target audience for skincare products?

The highest money will be spent on skin care by young adults (18 to 24 years old). Spending an estimated $7.3 billion on it in 2023.

Download the Skincare business plan free ppt & Skincare business plan free pdf.

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Skincare Product Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Beauty Care Industry » Cosmetics Line

Are you about starting a skincare production business ? If YES, here is a complete sample skincare production business plan template & feasibility report you can use for FREE .

Starting a production / manufacturing business is not same as starting a service based business; it is always more expensive and to a larger demanding to launch a production / manufacturing company. The fact that you want your products to compete with similar products in the market place means that you would have followed due process and product testing et al before pushing your product to the marker.

If you are certain that you have a winning formula when it comes to producing effective skincare products; products that has been tested and proven to meet the requirement for such products, then you should consider launching your own skincare line.

It is a business that is still pretty much open for investors to come and compete for the available market in the country you intend launching the business. Over and above, if you have decided to start a skincare production company, then you should make sure that you carry out thorough feasibility studies and also market survey.

This will enable you properly locate the business in a community or city with the right demography; a location that can readily accept your products. Below is a sample skincare production company business plan that will help you successfully launch your own business;

A Sample Skin Care Products Business Plan Template

1. industry overview.

Companies that operate in the Cosmeceutical Skincare Production industry, manufacture cosmeceuticals – that is cosmetics with pharmaceutical capabilities. Some of the most common products manufactured by players in this industry include wrinkle-reducing moisturizers, facial scrubs / cleanser and creams that even skin tone et al.

In the united states of America, no governing body formally defines cosmeceuticals. The term is for marketing purposes to define beauty care products that function primarily as cosmetics but also have additional pharmaceutical properties to cure, treat or prevent mild skin disorders or diseases.

For instance, a large number of these products function mainly as a facial wash or moisturizer, but also contain additives to clear acne or protect the skin from the sun’s harmful rays. The products from the Cosmeceutical Skincare Production industry are gaining demand as consumers increasingly desire multi-functioning beauty care products.

The Cosmeceutical Skincare Production Industry is a thriving sector of the economy of the United States of America and they generate a whooping sum of well over $6 billion annually from more than 245 registered and licensed cosmeceutical skincare production companies scattered all around the United States of America. The industry is responsible for the employment of well over 7,507 people.

Experts project the industry to grow at a 10.0 percent annual rate from 2011 to 2016. Unilever, Procter & Gamble and L’Oreal USA, Inc. have the lion share of the available market in the Cosmeceutical skincare production industry in the United States of America and in some other countries of the world.

Research shows that the Cosmeceutical Skincare Production industry is in the growth phase of its life cycle, though it is likely to enter the mature phase in the near future. Industry value added, a measure of the industry’s contribution to the overall economy, is forecast to grow at an average annual rate of 10.0 percent in within the next 5 years.

This rate is significantly slower than GDP growth, which is anticipated to increase at an average annual rate of 2.2 percent during the same period.

While IVA growth slower than GDP growth is typically indicative of an industry in the mature or declining stage of its life cycle, the Cosmeceutical Skincare Production industry is still growing as it is still experiencing high rates of industry entrants and product development.

The bottom line is that; the Cosmeceutical Skincare Production industry is still very much open for new entrant; the competition within the industry is not as stiff as similar industry. If your product is good, it can gain fair share of the available market in any country or region you intend launching the business / skincare product.

2. Executive Summary

Stacie Roe® Skincare Line, LLC is a licensed and standard cosmeceutical skincare production company that will be located in an industrial area in Concord – New Hampshire. We have been able to secure a long term lease for a facility in a strategic location with an option of a long term renewal on an agreed terms and conditions that is favorable to us.

The facility has government approval for the kind of production business we want to run and the facility is easily accessible and we are deliberate about that because we want to facilitate easy movement of raw materials (chemicals and packaging containers) and finished products (skincare products).

Stacie Roe® Skincare Line, LLC is in the cosmeceutical skincare production industry to produce standard and effective skincare products such as anti-aging topical treatment products, Sun care products, Acne treatment products, Dry skin care products, lip care products and other skin care products.

We are also in business to make profits at the same to give our customers value for their money; we want to give people and businesses who patronize our cosmeceutical skin care products the opportunity to be part of the success story of our brand.

We are aware that there are several big scale and small scale cosmeceutical skincare production companies and cosmetic and beauty care product manufacturing companies scattered all around the United States and Canada whose products can be found in every nooks and crannies of The United States and Canada, which is why we spent time and resources to conduct our feasibility studies and market survey so as to enable us locate the business in an area that can easily accept our products and brand.

We ensured that our facility is easy to locate and we have mapped out plans to develop a far reaching distribution network for wholesalers of cosmeceutical skincare products all around Concord – New Hampshire and throughout the United States of America.

Much more than producing quality, effective and safe cosmeceutical skincare products, our customer care is going to be second to none. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they purchase any of our product and also to become our loyal customers and ambassadors.

Stacie Roe® Skincare Line, LLC will ensure that all our customers (wholesale distributors) are given first class treatment whenever they visit our factory. We have a CRM software that will enable us manage a one on one relationship with our customers (wholesale distributors) no matter how large the numbers of our customer base may grow to.

We will ensure that we get our customers involved when making some business decisions that will directly or indirectly affect them.

Stacie Roe® Skincare Line, LLC is family business that will be owned by Stacie Roe and her immediate family members. Mrs. Stacie Roe who is the Chief Executive Officer of the Company is Graduate of Cosmetology and she holds a Master’s Degree in Business Management (MBA).

She has well over 12 years of experience working in related industry as a senior manager prior to starting Stacie Roe® Skincare Line, LLC. She will be working with a team of professionals to build the business and grow it to enviably height.

3. Our Products and Services

Stacie Roe® Skincare Line, LLC is going to run a standard and licensed cosmeceutical skincare production company whose products will not only be sold in Hartford – Connecticut but also throughout the United States of America and Canada.

We are in the cosmeceutical skincare production industry to make profits and also to give our customers value for their money. We will ensure that we do all that is permitted by the law in the United States of America to accomplish our business goal and objective . These are some of the products that we will be offering;

• Producing topical anti-aging cosmeceuticals
• Producing acne cosmeceuticals
• Producing sun care cosmeceuticals
• Producing dry skin cosmeceuticals
• Producing lip care cosmeceuticals
• Shaving cream, shaving preparations and aftershave products
• Face and body creams, beauty creams and lotions and hand cream or lotions

4. Our Mission and Vision Statement

• Our vision is to establish standard cosmeceutical skincare production Company whose products will be only be sold in Concord – New Hampshire, but also throughout the United States of America and Canada.
• Our mission is to establish a standard and world class cosmeceutical skin care production Company / brand that in our own capacity will favorably compete with leaders in the industry.
• We want to build a business that will be listed amongst the top 20 cosmeceutical skincare brands in the United States of America and Canada.

Our Business Structure

Stacie Roe® Skincare Line, LLC is a business that is established with the aim of competing favorably with other leading cosmeceutical skincare product brands in the industry. This is why we will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)

Plant Manager

Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

• Machine Operators
• Accountants / Cashiers

Distribution Truck Drivers

5. Job Roles and Responsibilities

Chief Executive Officer – CEO (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.
• Responsible for overseeing the smooth running of the cosmeceutical skincare production plant
• Part of the team that determines the quantity and quality of cosmeceutical skincare products that are to be produced
• Map out strategy that will lead to efficiency amongst workers in the plant
• Responsible for training, evaluation and assessment of plant workers
• Ensures that the steady flow of both raw materials to the plant and easy flow of finished products through wholesale distributors to the market
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Ensures that the plant meets the expected safety and health standard at all times.
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• 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.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Oversees the smooth running of the daily office and factory activities.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Responsible for the purchase of raw materials and packaging materials
• 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
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluate 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

Client Service Executive

• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• 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 clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
• Receives parcels / documents for the company
• Distributes mails in the organization
• Handles any other duties as assigned by the line manager

Production Workers / Machine Operators:

• Responsible for preparing, blending, compounding and packaging cosmeceutical skincare products
• Handles labeling of cosmeceutical skincare products
• Operates machines used in the manufacturing anti-aging topical treatment products, Sun care products, Acne treatment products, Dry skin care products, lip care products and other skin care products
• Assists in packaging and loading cosmeceutical skincare products into distribution trucks
• Assists in loading and unloading cosmeceutical skin care products
• Maintains a logbook of their driving activities to ensure compliance with <a ” target=”_blank” rel=”noopener”>federal regulations governing the rest and work periods for operators.
• Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment
• Assists the transport and logistics manager in planning their route according to a delivery schedule.
• Local-delivery drivers may be required to sell products or services to stores and businesses on their route, obtain signatures from recipients and collect cash.
• Transport finished goods and raw materials over land to and from manufacturing plants or retail and distribution centers
• Inspect vehicles for mechanical items and safety issues and perform preventative maintenance
• Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
• Collect and verify delivery instructions
• Report defects, accidents or violations

6. SWOT Analysis

We are quite aware that there are several cosmeceutical skin care product manufacturing companies both large and small in the United States of America and Canada which is why we are following the due process of establishing a business so as to compete favorable with them.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Stacie Roe® Skincare Line, LLC employed the services of an expert HR and Business Analyst with bias in start – up business to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Stacie Roe® Skincare Line, LLC;

Part of what is going to count as positives for Stacie Roe® Skincare Line, LLC is the vast experience of our management team, we have people on board who are highly experienced and understands how to grow business from the scratch to becoming a national phenomenon.

So also, the wide varieties of cosmeceutical skin care products that we produce, our large national distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business.

A major weakness that may count against us is the fact that we are a new cosmeceutical skincare production company and we don’t have the financial capacity to engage in the kind of publicity that we intend giving the business especially when big names like Unilever, Procter & Gamble and L’Oreal USA, Inc. et al are already determining the direction of the market both in the United States and in the global market.

• Opportunities:

The opportunities available to cosmeceutical skin care products manufacturing companies with a wide range of products are enormous. This is due to the fact that almost all Americans and people from all over the world make use of cosmeceutical skincare products on a daily basis.

As a result of that, we were able to conduct a thorough market survey and feasibility studies so as to position our business to take advantage of the existing market for cosmeceutical skin care products and also to create our own new market. We know that it is going to requires hard work, and we are determined to achieve it.

We are quite aware that just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies. It is a fact that economic downturn affects purchasing power.

Another threat that may likely confront us is the arrival of a new cosmeceutical skincare production company or cosmetics and beauty care product manufacturing company in same location where ours is located.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the existing trend in the cosmeceutical skin care production industry or even the cosmetic & beauty care products manufacturing industry, you will quite agree that despite the fact that there are competitions in different stages of the industry.

That is competitions amongst bigger corporations such as Unilever, Procter & Gamble, Estee Lauder, Mary Kay and L’Oreal USA, Inc. and also competitions amongst smaller and medium scale cosmeceutical skincare product manufacturing companies.

Most cosmeceutical skin care products manufacturing company are leveraging on creativity in terms of packaging and marketing to continue to stay afloat in the industry.

Another trend in this industry is the exploration of safer raw materials for the production of cosmeceutical skin care products. The truth is that people all over the world are looking for cosmeceutical skin care products that contain less chemical hence the increase in demand for cosmeceutical skin care products that are produced from herbal raw materials.

Lastly, the cosmeceutical skincare production industry is the adoption of eco – friendly approach towards the production and packaging of its products. As a matter of fact, the industry’s adoption of eco-friendly practices will likely persuade environmentally conscious consumers to buy its products, while increasing operators’ efficiency.

8. Our Target Market

When it comes to selling cosmeceutical skin care products, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who resides in our target market locations.

In view of that, 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 engage in wholesale distribution and to retail cosmeceutical skin care products to the following groups of people;

• Cosmetic Shops
• Corporate Executives
• Government Officials
• Business People
• Celebrities
• Military Men and Women
• Sports Men and Women
• Everybody in our target market location

Our competitive advantage

A close study of the cosmeceutical skincare production industry cum cosmetic and beauty care products manufacturing 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 cosmeceutical skincare production companies cum cosmetic and beauty care product manufacturing companies in New Hampshire and throughout the United States and Canada.

Stacie Roe® Skincare Line, LLC is launching a standard cosmetic and beauty care product brand that will indeed become the preferred choice of residence of Hartford – Connecticut and every city where our cosmetic and beauty care product will be retailed.

Part of what is going to count as competitive advantage for Stacie Roe® Skincare Line, LLC is the vast experience of our management team , we have people on board who are highly experienced and understands how to grow business from the scratch to becoming a national phenomenon.

So also the wide varieties of cosmeceutical skincare products that we produce our large and far reaching national distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups cosmeceutical skincare production companies) in the cosmeceutical skincare production 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

Stacie Roe® Skincare Line, LLC is established with the aim of maximizing profits in the cosmeceutical production industry in both the United States of America and Canada and we are going to go all the way to ensure that we do all it takes to sell a wide range of cosmeceutical skin care products to a wide range of customers.

Stacie Roe® Skincare Line, LLC will generate income by selling the following products;

• Topical anti-aging cosmeceuticals
• Acne cosmeceuticals
• Sun care cosmeceuticals
• Dry skin cosmeceuticals
• Lip care cosmeceuticals

10. Sales Forecast

One thing is assured when it comes to cosmeceutical skin care production company, if your products are well – packaged and branded and if your production plant is centrally positioned and easily accessible, 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 Concord – New Hampshire and every city where our cosmeceutical skin care products will be sold 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 cosmeceutical skincare production industry cum cosmetic and beauty care products manufacturing 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 projections are based on information gathered on the field and some assumptions that are peculiar to startups in Concord – New Hampshire.

Below is the sales projection for Stacie Roe® Skincare Line, LLC, it is based on the location of our business and other factors as it relates to small scale and medium scale cosmeceutical skincare products and cosmetic and beauty care products manufacturing company start – ups in the United States;

• First Fiscal Year-: $250,000
• Second Fiscal Year-: $550,000
• Third Fiscal Year-: $950,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’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 Stacie Roe® Skincare Line, LLC and also the kind of cosmeceutical skin care products we produce, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market in our target market locations.

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 and also for our products to favorable compete with other leading cosmeceutical skincare brands in the United States of America and Canada.

We hired experts who have good understanding of the cosmeceutical skin care production cum cosmetic and beauty care product manufacturing industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Concord – New Hampshire and other cities in the United States of America and Canada.

In other to continue to be in business and grow, we must continue to sell our cosmeceutical skincare products to the available market which is why we will go all out to empower or sales and marketing team to deliver our corporate sales goals.

In summary, Stacie Roe® Skincare Line, LLC will adopt the following sales and marketing approach to sell our cosmeceutical skincare products;

• Introduce our cosmeceutical skin care products brand by sending introductory letters to residence, merchants, retailers and other stakeholders in Concord – New Hampshire and other cities both in the United States of America and Canada
• Open our cosmeceutical skin care production company with a party so as to capture the attention of residence who are our first targets
• Engage in road show in targeted communities from time to time to sell our products
• Advertise our products in community based newspapers, local TV and radio stations
• List our business and products on yellow pages ads (local directories)
• Leverage on the internet to promote our cosmeceutical skin care product brands
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

In spite of the fact that our cosmeceutical skincare production plant is a standard one with a wide range of cosmeceutical skin care products that in few years from now will favorably compete with other leading brands in the industry like Unilever, Procter & Gamble, Estee Lauder, Mary Kay and L’Oreal USA, Inc..

We will still go ahead to intensify publicity for all our products and brand. We are going to explore all available means to promote Yvonne Stallone® Cosmetic Line, LLC.

Stacie Roe® Skincare Line, LLC has a long term plan of distributing our cosmeceutical skin care products in various locations all around the United States of America and Canada which is why we will deliberately build our brand to be well accepted first in Concord – New Hampshire before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for selling our products but to also effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Stacie Roe® Skincare Line, LLC;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our cosmeceutical skin care product brand
• Install our Bill Boards on strategic locations all around major cities in the United States of America and Canada
• Engage in road show from time to time in targeted communities
• Distribute our fliers and handbills in target areas
• Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing our products.
• Ensure that our products are well branded and that all our staff members wear our customized clothes, and all our official cars and distribution vans are customized and well branded.

12. Our Pricing Strategy

When it comes to pricing for products such as skin care products cum cosmetics and beauty care product, there are two sides to the coin.

We are aware of the pricing trend in the cosmeceutical skincare production industry cum cosmetic and beauty care products manufacturing industry which is why we have decided to produce various sizes of cosmeceutical skin care products.

In view of that, our prices will conform to what is obtainable in the industry but will ensure that within the first 6 to 12 months our products are sold a little bit below the average prices of various cosmeceutical skin care product brands in the United States of America.

We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our cosmetic and beauty care product brands.

• Payment Options

The payment policy adopted by Stacie Roe® Skincare Line, LLC 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 Stacie Roe® Skincare Line, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• 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 our products.

13. Startup Expenditure (Budget)

Starting a standard cosmeceutical skincare production company is indeed a capital intensive business. This is so because the amount required in setting up a cosmeceutical skin care production plant is not a piecemeal. The bulk of the start – up capital will be sent on leasing or acquiring a facility and also in purchasing mixing, blending, compounding and packaging equipment.

Aside from that, you are not expected to spend much except for purchase and servicing of distribution trucks, purchasing raw materials, paying of your employees and utility bills. This is 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) – $1,300.
• Marketing promotion expenses for the grand opening of Stacie Roe® Skincare Line, LLC 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.
• The cost for hiring Business Consultant – $2,500.
• The cost for insurance ( general liability , workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of rent for 12months at $1.76 per square feet in the total amount of $105,600.
• The cost for construction of a standard cosmeceutical skin care production plant – $100,000.
• 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) – $100,000
• The cost for Start-up inventory (mixing, blending, compounding and packaging equipment, raw materials, and packaging materials et al) – $80,000
• Cost for store equipment (cash register, security, ventilation, signage) – $13,750
• Cost of purchase of distribution vans – $60,000
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, Fax Machines, tables and chairs et al) – $4,000.
• The cost of launching a website – $600
• The cost for our opening party – $10,000
• Miscellaneous – $10,000

We would need an estimate of $500,000 to successfully set up our cosmeceutical skincare products production plant in Concord – New Hampshire. Please note that this amount includes the salaries of all the staff for the first 3 month of operation.

Generating Funds / Startup Capital for Stacie Roe® Skincare Line, LLC

Stacie Roe® Skincare Line, LLC is a family business that is owned and financed by Stacie Roe and her immediate family members. They do not intend to welcome any external business partner which is why he has 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 and sell of stocks
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $200,000 ( Personal savings $150,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $300,000 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 any 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 Stacie Roe® Skincare Line, LLC 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 cosmeceutical skin care 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.

Stacie Roe® Skincare Line, LLC 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 re – training 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 three 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 construction of standard cosmeceutical skin care production plant: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members and friends: 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
• Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress

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Skincare Business Plan Template & Guidebook

Every skincare business needs a plan to succeed. With the right strategy and tools, any business can reach its goals. The #1 Skincare Business Plan Template & Guidebook offers a complete set of resources that are designed to help aspiring entrepreneurs create a comprehensive and effective business plan for their skincare brand. With a step-by-step guide, tips from experts, and detailed information about budgeting, market research, product development, and more, this template and guidebook will provide the support needed to ensure success for your skincare business.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Skincare Business [11 Steps]
• 10+ Best & Profitable Skincare Business Ideas [2023]
• 25 Catchy Skincare Business Names:
• List of the Best Marketing Ideas For Your Skincare Business:

How to Write a Skincare Business Plan in 7 Steps:

1. describe the purpose of your skincare business..

The first step to writing your business plan is to describe the purpose of your skincare business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a skincare business:

Our mission at [Company Name] is to provide all our customers with the highest quality skincare products that are meticulously designed to promote healthier and more vibrant skin. We will strive to create a holistic and eco-friendly approach to beauty that is both empowering and accessible for everyone.

2. Products & Services Offered by Your Skincare Business.

The next step is to outline your products and services for your skincare business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your skincare business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your skincare business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your skincare business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a skincare business?

• Medical Equipment (microdermabrasion machine, laser resurfacing machine, etc.)
• Skincare Products (face masks, serums, moisturizers)
• Business License
• Operating Permit/ Certificate of Registration from local health department

5. Management & Organization of Your Skincare Business.

The second part of your skincare business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your skincare business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Skincare Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a skincare business varies based on many different variables, but below are a few different types of startup costs for a skincare business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your skincare business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your skincare business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your skincare business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Skincare Business Plans:

Why do you need a business plan for a skincare business.

A business plan is essential for any business, including a skincare business. It will provide direction, establish performance benchmarks, and help create a structure to anticipate important decisions and contingencies. A business plan will also provide critical information for potential investors or lenders and will provide a roadmap for the success of the business. Additionally, it will help identify potential risk factors and areas for improvement that could help create a successful and profitable skincare business.

Who should you ask for help with your skincare business plan?

You should consult with a business consultant or a financial planner to help you create a business plan for your skincare business. Additionally, you may wish to seek advice from those in the skincare industry or experienced entrepreneurs who have launched successful skincare businesses.

Can you write a skincare business plan yourself?

Yes, you can write a skincare business plan yourself. You'll need to consider the following elements: target audience, product offerings, pricing strategy, marketing plan, budget and financial projections, operations plan, and resources needed. Additionally, you'll need to clearly outline goals and objectives for your business.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

How to start a skincare business

Table of Contents

Skills needed to start a skincare business

Skincare science, communication, branding and marketing, how to start a skincare business from scratch, choose a business name and structure, register for tax, research the market, check out the competition, write a business plan, open a business current account, how to create your skincare products, select a hero product, choose a manufacturing process, set a pricing strategy, how to market your skincare business, build your brand, identify your audience, create a marketing message, be active on social media, keep your business finances organised with countingup.

Starting a skincare business takes a lot of planning and dedication. But the more thorough you are at the beginning, the more likely your business is to succeed. If you’re not sure where to start with your new business venture, this guide is for you.

We’ll cover the following:

Running a successful business takes a specific skill set that varies between industries and business types. We’ve listed the main skills you’ll need to start a skincare business below.

Starting a skincare business where you make and sell the products yourself requires a good knowledge of how skin works. You need to understand skin structure, physiology and needs to help you develop effective formulations for your products. 

You’ll also need the ability to determine what makes a good cosmetic formula. For example, what ingredients are necessary to create different types of emulsions, balms, gels and toners? Also, when do you need to add preservatives to a product to make it last? A good cosmetic formulator knows the answers to these questions. 

Whether you’re making your products from scratch, following simpler DIY recipes, or buying ready-to-sell products, you need to be a good communicator. Decent communication skills will make it easier for you to speak to customers, suppliers, and other people your business comes across. 

There’s no point in creating amazing skincare products if no one knows they exist. The beauty industry is highly competitive, so you need to know how to differentiate yourself from your competition and convince customers to buy from you over other brands. 

Knowing how to brand and promote your business and products is a key skill you need to grow a successful company.  

Another key thing you need to start a skincare business is an understanding of the skincare industry. It’s always evolving and changing, so it’s crucial to keep up with any trends you can hop on to attract more customers to your brand. 

This section will outline the different steps you need to take to start your skincare business.

The first step is to decide if you want to run your business as a sole trader , a limited company , or if you want to set up a partnership? 

Sole trader businesses are simpler to set up, but a limited company looks more professional and gives you limited liability for any debt you incur while running the business. On the other hand, limited companies require more accounting and tax work than sole trader businesses do.

You also need to choose a business name. While you can use your own name to trade, you may want to choose a separate company name if your plan is to expand. Start by checking the Companies House register to ensure your chosen name isn’t already taken.

Self-employed people need to notify HMRC that they will manage their own tax and National Insurance contributions. As a self-employed person, you’ll also need to submit a Self Assessment tax return every year if you make over £1,000 from your business income.

Limited companies also need to register for Corporation Tax , and if your business is likely to turn over £85,000 or more annually, you must also register for VAT.

Once you’ve set up your business, you need to look into what the current market looks like and figure out how your products can fit into it. 

You can use skincare industry data from government sources like the Cosmetic, Toiletry and Perfumery Association Ltd. (CTPA) . Information from trade organisations and publications within the cosmetics industry is also useful when conducting your market research.

Conducting market research also helps you identify who your ideal customer would be and how you can best get their attention. For example, selling body lotions to older men requires a completely different approach to selling acne cream to young women.

Finding your perfect spot in the market also requires knowledge of what other skincare brands are up to. Researching your competitors involves looking into other brands that are actively trading, including the products they sell, how much they charge, how they promote themselves, and so on. 

Scour company websites to see how your competitors talk about themselves and read reviews on Trustpilot or other service directories to find out what their customers say. Websites like  Glassdoor are also an excellent way to find out what employees think of the business.

A business plan helps ensure that you hit the ground running when starting your business. Writing a business plan helps you budget for startup costs, identify likely roadblocks, and determine what resources and supplies you’ll need. 

You use a business plan to determine the ultimate goal you have for your skincare company, like if you want to stay local or become a global company. You should also include whether you’ll want a store for your business or just sell your products online.

Use your business plan to create your business goals and set objectives along the way to help you stay on track and measure your success. Learn more about business goals and objectives .

If you set up as a limited company, you legally have to open a separate business current account to separate your business finances from your personal ones. 

Sole traders and partnerships don’t legally have to open a separate business account, but we still recommend it for the following reasons:

• Makes it easier to monitor cash flow (money moving in and out of your business)
• Makes tax returns easier to prepare since your business and personal transactions are separate
• It looks more professional and trustworthy

The Countingup business current account has built-in accounting software that allows you to save time and stress on bookkeeping tasks. 

Once your business is all set up, it’s time to develop your product line. Follow the steps below to get started.

If you try to focus on too many products at once, you risk overwhelming yourself. The best way to ensure you get off to a good start is to select a key product (or hero product) to be the main one you sell. Once you’ve perfected your hero product, you can start working on supporting items to expand your product line. 

For example, say your hero product is a rosewater-based moisturiser that suits all skin types. In that case, you can expand your product line by adding a moisturiser for dry skin and sensitive skin. It’s best to start small and work your way up to a large product line rather than attempting to do it all at once.

Starting a skincare business could be as simple as buying ready-to-sell products to sell to customers or as complicated as making each formula from scratch. The process you choose will depend on your experience, skill level, available time and budget. 

These are the options you have:

• Make them yourself – you can certainly blend simple lotions and lip balms at home,  but make sure you carefully test and document your process so you can maintain a consistent formula. You also need to follow local regulations . 
• White or private labelling – With white labelling (or private labelling), you use the same formula and manufacturer as other skincare brands, only with some variations and different packaging. There’s no need to test new formulations over time, making white labelling a great option if you want to quickly go from idea to finished product.
• Manufacturing – Here, you create and develop your formulas from scratch in a manufacturing facility. Many manufacturers produce products for multiple brands in the same space. As such, manufacturing is a more accessible (but expensive) option for new brands.
• Curating and re-selling – Going for this option means you skip the manufacturing process altogether and instead buy wholesale products from different brands. You could sell vegan brands, locally sourced products, creams for specific skin types, etc., and bring a curated shopping experience to your customers. 

Next, you need to decide how much you’ll charge for your products. Your prices affect your entire business, from cash flow (the balance of money entering and leaving your business) to profit margins and what expenses you can afford.

Ensure your prices also fit with your niche and the types of skincare products you sell. For example, you can set higher prices if you sell high-quality, all-natural lotions. On the other hand, if your products are more generic, you’ll need to charge lower prices.

You need to choose prices that are reasonable enough that customers will pay them but still allow you to cover manufacturing costs and other expenses.

No sense in having a great skincare business if no one knows about it. Here’s what you need to do to market your skincare business effectively:

The first step to effective marketing is to create a memorable brand that reflects the personality of your business. Branding is key to making your company stand out and creating something customers will remember. 

At a minimum, your brand should include:

• A unique logo that helps you stand out
• A colour scheme that represents your identity
• A memorable brand name and mission statement
• A set of values to help you target customers

Competitor research comes in handy when you need inspiration. Simply look at what other brands are doing, making notes of what you like and don’t like, and use that to start building your brand.

Marketing your brand and products without knowing who you’re targeting is like throwing out messages in a bottle. You won’t know who’ll read them or if anyone reads them at all. 

Taking the time to identify your target audience (learn more about it here ) will allow you to tailor your message and methods to reach them. 

When you know your target customers, you can create a marketing message that will resonate with them. Every big brand has a memorable catchphrase attached to its name. For example, Nike has Just Do It, McDonald’s has I’m Lovin’ It, and so on. 

The beauty brand bareMinerals has had one clear message for its target audience since its founding in 1995, which is Clean Without Compromise. Their products have always been cruelty-free beauty, and free of parabens, formaldehyde, and other chemicals often found in their competitors’ products.

Spreading the word about your new business requires you to grow your social presence. Use social platforms to share tips, announce new products, comment on important social issues, and engage with your audience.

The best platforms for skincare brands are usually Instagram, YouTube, Pinterest, and TikTok. All these platforms are full of people sharing beauty and skincare tips and hacks, so you might even be able to find an influencer to help promote your products. Learn more about influencer marketing . Of course, which platforms you focus on depends on your audience. 

Once your business gets going, and money starts rolling in, you need to charge customers for your products. You can learn more about how to make an invoice and how to avoid and fix common invoice mistakes in our guides.

Starting a business takes a lot of time, focus, and hard work. The last thing you need is to waste hours dealing with a bunch of financial admin. 

That’s why thousands of business owners use the Countingup app to save time on their financial management and focus on growing their business. Countingup is the business current account and accounting software in one app. It automates time-consuming bookkeeping admin for self-employed people across the UK.

With automatic expense categorisation, receipt capture tools and cash flow insights, you can confidently keep on top of your business finances and save yourself hours of accounting admin, so you can focus on starting growing your makeup business. Find out more here .

• Counting Up on Facebook
• Counting Up on Twitter
• Counting Up on LinkedIn

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Cosmetics Manufacturing Business Plan

Start your own cosmetics manufacturing business plan

Executive Summary executive summary is a brief introduction to your business plan. It describes your business, the problem that it solves, your target market, and financial highlights.">

Opportunity.

The cosmetics industry is in a state of flux. Traditional brands (Revlon, L’Oreal, Lancôme etc.) are viewed as old. The consumer is looking for more holistic and healing benefits from her skin care products. She is no longer content with just the appearance benefits offered by traditional brands. The Body Shop brought her an awareness of cruelty free and natural products. These initial nudges lead to today’s consumer being more informed and more inquisitive about the benefits of her personal care products. Her skin crème needs to protect her from the suns damaging rays, moisturize her skin and reduce the effects of aging. She is seeking relief from the effects of a hectic 24/7 lifestyle. She has learned the benefits of herbal therapy and aromatherapy. She has either experienced or read about the benefits (both physical and emotional) of a Day Spa.

Bluespa is a multi-channel concept, combining a wholesale distribution network with a retail strategy, e-commerce, and a consumer catalogue. The face of retailing is changing.

Bluespa will occupy a unique market position. No other brand offers a specialty line that includes skin care, cosmetics, fitness apparel and accessories. However, within each category significant brands do exist. Quality and price vary widely within each group. Bluespa will be positioned as a quality brand. The U.S. cosmetics market has seen large annual growth rates over the past decade. Last year alone, the market grew by over $1 billion. Clear divisions between traditional categories are becoming blurred and new lines, such as aromatherapy are also emerging, creating new openings for profit.

In fitness apparel and accessories there is a tremendous opportunity since the female customer has been grossly overlooked. Most major companies do not produce products focused specifically on the female customer. Puma is the only brand that has developed a line of fitness apparel fro women. Early sales for them have been exceptional, further highlighting the potential within this category.

In the skin care and cosmetics category the competition can be divided into three groups: Commercial–i.e. MAC, Origins, Philosophy, Erno Laslo and Shesheido; Clinical–i.e. Kiehl’s, Clinique, Clarins and Dr. Hauscha; Spa–private label brands associated with spas.

Competition

Traditionally the dynamics of the industry have favored large houses because they can fund the major advertising and marketing campaigns associated with this industry. Today an underground (or gorilla) marketing effort can be more effective in gaining credibility with this market segment. In the past the volume of product required to produce a batch, and the cost of producing packaging have favored the larger players. Today, technology has evolved to allow the efficient production of small batches. Packaging resources exist that allow for efficient cost controls and rapid delivery of these components. In brief, the advantages of size that created barriers to entry for new players have been swept aside. The cosmetic giants still hold a dominant position in this industry and they will most likely continue to. But they have realized the need to acquire new brands and to keep their affiliation in the background. LVMH and Lauder have done an excellent job of identifying emerging brands and acquiring them.

In recent years names like MAC, Bloom, Bliss, NARS, Fresh and Kiehl’s have been acquired. This strategy indicates that a few of the traditional big players recognize the benefits, for themselves and the industry, of emerging niche brands. Add to this equation the growth of the day spa industry in the United States over the last 20 years. 20 yrs ago, there were  25 day spas in America. 10 yrs ago, that number had risen to 200. Today there are over 3,000 day spas in the U.S. and 300 in Canada. Americans are beginning to understand the benefits and pleasures of taking care of themselves.

Bluespa represents quality in skin care, fitness apparel and accessories. We will accomplish this using high quality manufacturing and research, a creative marketing program, and a comprehensive distribution network using both brick and mortar retail outlets, internet presence, and a consumer catalogue.

Expectations

In order to launch its unique product line Bluespa requires an initial outlay. Sales at Bluespa retail stores are planned to grow rapidly from Year 1 through Year 5. During this time frame our wholesale revenues are planned to grow enormously. Bluespa will become profitable in our third year of operation. Initial growth will be financed by a combination of equity investment and debt financing. Our ratios are well within prudent limits and our growth plans are challenging, but realistic.

Financial Highlights by Year

Financing needed.

We will be getting $420,000 to start. Ray will be contributing $254,000. Barbara will be contributing $64,000. We have $100,000 of current borrowing.

Problem & Solution

Problem worth solving.

The cosmetics industry is in a state of flux. Traditional brands (Revlon, L’Oreal, Lancôme etc.) are viewed as old. The consumer is looking for more holistic and healing benefits from her skin care products. She is no longer content with just the appearance benefits offered by traditional brands. The Body Shop brought her an awareness of cruelty free and natural products. These initial nudges lead to today’s consumer being more informed and more inquisitive about the benefits of her personal care products. Her skin crème needs to protect her from the suns damaging rays, moisturize her skin and reduce the effects of aging. She is seeking relief from the effects of a hectic 24/7 lifestyle. She has learned the benefits of herbal therapy and aromatherapy. She has either experienced or read about the benefits (both physical and emotional) of a Day Spa.

Our Solution

Bluespa is a company that has created a brand concept consisting of both skin care and athletic apparel utilizing multiple channels of distribution. We are seeking recurring investment to fund the growth of the brand, and position the company for an IPO. The plan that follows explains our market, our value proposition and our market segmentation strategy. The detailed financial plans provide a clear view of our sales and profit forecasts. These plans show how Bluespa will reach profitability in our third year of operation and generate shareholder return on equity within five years.

Target Market

Market size & segments.

Market Segmentation

For the purpose of this analysis we are focusing solely on the female market. Therefore our potential customers base (for the purpose of developing projections) does not include any statistics or provisions for male consumers. We have used the demographic report for spa goers conducted by spa weekly as a basis for our assumptions. Based upon this survey the spa goer is predominantly female (85%), well educated (46% attended college), and crosses income levels (26% earn less than $35,000; 32% earn between $35,000 and $74,999 and 42% earn over $75,000).

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4.3 Target Market Segment Strategy

Because Bluespa is a combined retail (direct to end user) and wholesale (to the end user through a reseller) strategy our target customer must be broken into two distinct groups, the end user and the reseller.

Our targeted end user is between the ages of 24 and 65. They are urban professionals with at least some college. This consumer has an active lifestyle. They are concerned about social and environmental issues. Mind and body wellness are important to them. They belong to a health club; take yoga, pilate’s or tai chi lessons. The effects of aging and the maintenance of a youthful appearance are a part of their life. A recent survey conducted by The American Spa Industry revealed the following demographic for day spa goers: 85% are female, 46% have some college and 39% are college graduates, 63% are married, 32% have an annual income between $45,000 and $74,999, 40% have income above $74,999 and 26% have incomes below 45,000, 47% are between 34 and 52 years of age.

They are predominantly female. They are well educated. Between 1993 and 1998 20% more BAs and MBAs were awarded to women than men. Women received 59% of all associate degrees, 55% of bachelor degrees, 53% of masters’ degrees and 40% of doctoral degrees earned in the United States. Today college campuses are over 60% female. The buying power of this segment of the market continues to grow. There are currently over 109 million female consumers. Their buying power is estimated at $4.4 trillion. (In comparison, the junior market is estimated at $100 billion). In 1997 64% of working women earned more than one half of the family income. Today, businesses owned by women generate over $3.6 trillion in annual sales. Of the net increase in the workforce between 1992 and 2005, 62% are projected to be women. In retail the female consumer is the primary decision maker in 85% of households. Women buy or influence the purchase of 80% of consumer goods. Their increasing educational attainment makes young women even more sophisticated and demanding consumers.

Today’s female consumer is living a transactional life with multiple constituencies. Her life is on fast forward. In the last few years the sales of anxiety drugs to this consumer has surpassed the sales of anti-depressants. Her definitions are shifting, blurring the lines between home and office; private and public; professional and casual; even male and female. Age has become irrelevant. Life stages are no longer defined cleanly by age. (A 44-year-old first-time mother has much in common with a 22-year-old first-time mother.) Links between generations and mindsets are becoming very spread out. Today’s female consumer defines herself more by mindset or approach to life than by age. Parents and teens are often on parallel treadmills. The older segment is interested in staying young and the younger segment is acting older.

In addition there has been a democratization of luxury. The upper-class family group is massive. More than eight million households have incomes above $100,000. Luxury spending is growing four times faster than overall spending. Working women of all ages have more money and they are spending it on personal luxuries. This is a reaction to the chaos of 24/7 consumerism. She’ll buy, but she wants more than just another product. She is not seeking empowerment–she is empowered. She is choosing to take better care of herself and others. She is looking for peace, solutions and fulfillment. Purchasing has moved beyond price. The Price:Value ratio has become more meaningful. She is seeking a "value added" experience or product. Our strategy of combined channels of distribution allows us to fit into her schedule while our product philosophy provides her with the benefits she is seeking.

Our target customers (vs. end user) for wholesale distribution will be resellers who recognize the needs of this consumer and who she identifies with. We have used the term resellers because they will not be limited to retailers. We will reach the consumer through four distinct reseller channels.

• Spas and Health Clubs : Most high-quality day spas and health clubs (and many upscale spas at resort properties) use generic products. (Much like the hair salon industry before Aveda.) Our goal will be to develop affiliations with select spas in urban areas and vacation destinations. Our manufacturing partnerships will allow us to offer these customers bulk product at favorable prices to them while allowing us excellent margins.
• Lifestyle Retailers : Our target retailer will be lifestyle-based rather than the typical soaps and potions or natural product retailers. These retailers exist in almost every city. Whether it is Wilkes Bashford in San Francisco, Mario’s in Seattle, Harold’s in several south central cities, Fred Segal in Los Angeles, Bergdorf Goodman in New York or Colette in Paris. These retailers have developed a loyal and sophisticated customer base. They understand the concept of lifestyle.
• Cosmetic Specialty Retailers : Sephora is the major force in this category.
• Boutique Department Stores : This category is composed of what was once called "Carriage Trade" retailers. We will limit our distribution within this segment to Saks, Niemans and Barneys.

Current Alternatives

Because we will develop our brand image and market positioning primarily through our skin care line, we will focus our competitive review on that segment of the market. The skin care market is very broad. It includes products labeled as body crème that range in price from $10 for a five-ounce container to over $300 an ounce. Our market positioning will be in the lower price quadrant of high quality natural products.

Our primary competitors for this customer are:

Kiehl’s : Founded in 1851, this brand has an image that is well established with the consumer. Their main strength has been that the products work. Kiehl’s has been a family business for four generations. The products are being made in small batches in a New York City facility. They have a wide and varied distribution strategy. Their packaging and labeling is very clinical in appearance. In recent years the brand has experienced almost geometric growth. This has caused them serious internal problems. They have been unable to meet demand and have stopped adding customers. In spring 2000 Estee Lauder acquired them. According to internal sources Lauder will move the manufacturing to OEM facilities and shut down the internal capabilities. They plan to focus growth on traditional department stores and on a roll out of Kiehl’s own stores. The obvious plus of this marriage is the availability of cash and technical resources. The potential risk is that Lauder will associate the brand closely with Department stores and that the OEM manufacturing will result in the changing of certain formulas and a reduction in product effectiveness.

Aveda : Founded in 1978 by Horst Rechelbacher (an artist), Aveda has become synonymous with quality hair-care products and salons. They are distributed, worldwide, by over 3,000 Aveda salons. It has nurtured a well-defined image and secured a very effective distribution network. Aveda salons are a combination of licensed properties and company owned locations. Their product philosophy is centered in Ayurveda healing and aromatherapy. Recently Estee Lauder acquired them.

Fresh : Fresh distributes body and skin care products through their own stores, a consumer catalogue and wholesales globally to department and specialty stores. Their products are more "fashion" influenced than treatment based. They currently have two stores in New York City and one in Boston. Their target market is younger and less affluent than Bluespas’.

Essential Elements : A former stock analyst started essential Elements in 1995. The products are botanical based natural body crèmes and lotions. They are distributed primarily through day spas and specialty stores. Informed sources say they will be launching a consumer catalogue. Their main target for increasing distribution is through day spas and resorts.

Our Advantages

Bluespa will occupy a unique market position. No other brand offers a specialty line that includes skin care, cosmetics, fitness apparel and accessories. However, within each category significant brands do exist. Quality and price vary widely within each group. Bluespa will be positioned as a quality brand. We have eliminated the drugstore and discount brands from this comparison.

The commercial brands are primarily sold through department stores. They vary widely in quality from Origins to Shesheido. They also vary widely in price. Their major advantage is their financial strength and their department store relationships.

The clinical brands are perceived to be "authentic." Their image is based upon the perception of treatment qualities verses purely cosmetic benefits. These brands are sold through their own retail outlets, specialty stores, department stores and/or health food stores. Kiehl’s is perceived as one of the most authentic of the clinical brand.

The spa brands are sold almost exclusively at the spas they are associated with. This close affiliation provides a validation for the products but limits their ability to achieve wide market distribution. Bliss and Aveda are notable exceptions. These two brands have achieved wide market distribution and brand recognition.

In fitness apparel and accessories the female customer has been grossly overlooked. Reebok and Avia had the best chance of capturing her at one time. However Reebok abandoned her to try to become a "legitimate" sports brand and acquired Avia. Avia has since been sold and has all but disappeared. Meanwhile the big two brands (Nike and Adidas) have ignored her. Recently Nike announced the formation of a women’s division as a separate business unit. While this offers the possibility of a major competitor in the women’s fitness category, it also highlights the opportunity. Puma is the only brand that has developed a line of fitness apparel focused specifically at this consumer. Their Nuala line has been developed with Christy Turlington. They have positioned this line to sell through women’s specialty stores rather than traditional sport retailers. Early sales have been exceptional, further highlighting the potential within this category.

Bluespa will develop our market position by combining a retail strategy that includes a day spa with a wholesale distribution strategy. Bluespa will acquire the validity afforded the spa brands and access to broad distribution. Bluespa skin care and cosmetic products will offer therapeutic benefits to the user based upon the principles of Thalasso therapy in our water line and Botanical treatments in our earth line. Our color cosmetics will be mineral based and provide the user with esthetic benefits while nourishing the skin. In addition to providing retail appropriate packaging we will develop bulk sizes for distribution within the spa trade. Most day spas use generic products and do not have the ability to develop a private label line. The apparel and accessory lines will combine the newest in technical fabrics with fit specifications that allow the wearer full range of movement. We have developed affiliations with select yoga and fitness facilities for our apparel. All of our products will be positioned at the quality conscious consumer. Our marketing campaign and PR positioning will reinforce the Bluespa image. Our message will be to identify the benefits of our products and to develop an image that makes Bluespa products highly desirable. Meanwhile, our pricing strategy will be to maintain retail price points in the lower quadrant of the top quality brands. A detailed comparison of our pricing as it relates to our target market is in the appendix.

Keys to Success

Our keys to success are: 

• Quality product.
• Product logistics and quality control.
• Product placement in key retail accounts.
• A vertical retail presence in brick and mortar, catalogue and e-commerce.
• The creation of a "buzz" about this "hot…new" brand among opinion leaders through a combination of PR and product placement.

Marketing & Sales

Marketing plan.

Bluespa will utilize a brand building (pull) strategy as the basis for our marketing plan. We will position our print media spend in magazines that influence our target consumer and validate the brand. The publications we will utilize are: W, Vogue, Wallpaper, Cosmopolitan, Travel & Leisure, Vanity Fair, Departures, In Style, Food & Wine, Shape, Town and Country and the New York Times Sunday edition. These are the same publications retail buyers and trend analysts scour to find emerging brands or trends. In addition to paid ads in regional issues of the publications mentioned, we will retain a PR firm to develop a grass roots program for obtaining product placement and celebrity/trainer endorsements. Our media and PR strategy will bring the brand to the forefront for the consumer and set the stage for our image development. We will have a separate plan to market to spas and retailers at trade shows. In addition we will develop a unique in-store graphic and communication package that explains our products benefits and advantages at point of sale.

Our retail sales strategy consists of just two parts. First we will hire and train people who fit the Bluespa image and lifestyle. Our training programs will insure that they have the product knowledge necessary to serve the customers needs and close the sale. Second, our commission and retention programs will insure we recognize and reward performance. Our sales people will be on a commission program that compensates for follow up sales at progressively higher rates. This will provide an incentive for consumer follow up and the creation of repeat business. Our commission program will also insure that individual performance is monitored and recognized. Top performers will be singled out for recognition and poor performers will be given additional training or encouraged to seek a profession more suitable to their skills.

Locations & Facilities

The company’s main office is located in Portland Oregon. The office is approximately 400 square feet. An additional 800 square feet of office space can be made available within the building. This should be sufficient for planned staff size within the first few years. The company has a five-year lease on the current space with an additional five-year option. An option exists on the expansion space as well.

Distribution in the first year will be managed from a facility in Southwest Portland. In years two through five we plan to manage distribution through a contract resource capable of handling both wholesale distribution and retail fulfillment.

Skin and body care products will be developed and produced at our contract facilities in Pontrieux and Nice, France and Compton, California.

Production of apparel products will be managed through our contract manufacturer of sport-related apparel. They have a 50,000 square foot production facility in Portland, Oregon for high-quality technical apparel and a 200,000 square foot facility in Mexico for the production of t-shirts and other knitwear.

Production of accessories will be managed through a contract with a manufacturer of quality sports-related accessories including: bags, hats, totes and socks for the wholesale market. Their office and distribution facilities are located in southern California.

Milestones & Metrics

Milestones table, key metrics.

Our key metrics are 

• Cost of goods of products – we have a lot of customers that can’t afford very expensive products, we need to keep an eye on the cost to stay competitive
• Facebook page views 
• Twitter tweets and retweets 
• Blog shares 
• Instagram 
• Website 
• Community events 

Ownership & Structure

The initial management team is very compact. Our CEO and founder is the only current (full-time) employee. However we have utilized significant external resources and have secured a committed and talented team to join Bluespa as our funding gets in place. Ms. Kelly Anderson will be our director of retail and spa operations. Mr. Dane Johnson will join us as creative director. (Mr. Johnson is currently a creative director for Nike.) Ms. Brunner will be the director of product development. Ms. Fran Wonnacott will join the team as administrative assistant to Mr. Brunner. In addition to our internal resources we have access to a significant pool of senior management and design talent. This resource has been detailed in the management team section.

Management Team

Ray G. Brunner, president and CEO:

Mr. Brunner has over 30 years of retail experience. During his career he has successfully held senior management positions with several major retailers.

He joined the GAP Inc. as a regional manager. During his 10 year career with GAP he managed every region in the U.S. The then-new president, Millard Drexler, tapped him for the position of vice president of visual merchandising. In this capacity, Mr. Brunner played a significant role in the repositioning of GAP.

Mr. Brunner was then assigned the responsibility of developing a kids business for GAP. This resulted in the creation of GAPKIDS where he served as VP and general manager until he joined Storehouse PLC as president and CEO of Conran’s Habitat North America. His responsibilities there included developing a U.S. roll out strategy for that business. After selling the business, Mr. Brunner joined Eddie Bauer as VP of real estate and retail operations. While in this capacity he was instrumental in developing a complete face-lift for the core business as well as assisting in the development of the Eddie Bauer home concept.

Then Mr. Brunner left Eddie Bauer to begin a very specialized consulting business. His clients have included Esprit Europe, Asia and America, Fruit of The Loom, The Luchesse Boot Company, Adidas International, The Guggenheim Museum and Adidas America. The nature of each of these consulting engagements has been to assist the client company in developing a strategy for a retail rollout or expansion and to oversee the successful execution of these strategies. Adidas America decided to execute a retail strategy developed in conjunction with Mr. Brunner’s consultancy, on the condition that he agreed to manage the business and launch the strategy. He served in the capacity of president for retail operations with Adidas America. He planned and managed the development of the Adidas in-line retail stores now open in Los Angeles, Seattle and Boston. In addition, he coordinated the development of the organizational structure and rollout strategy for this business.

Mr. Brunner attended Western Connecticut State College and did graduate work at UCLA.

Barbara Brunner, vice president product development:

Ms. Brunner has over 25 years of retail experience. Her career started with GAP as an assistant store manager. She quickly became a store manager and then a senior store manager responsible for overseeing the Washington DC metro. Then she was tapped to become one of the first managers in the new Banana Republic Division, where she opened and successfully managed the South Coast Plaza store. Ms. Brunner then joined Ann Taylor to manage the Beverly Hills and Century City stores. As a training manager she was instrumental in developing top store talent for this prestigious retailer.

Ms. Brunner co-founded Planet Stores in Seattle Washington. Planet quickly became a recognized leader in the market and grew to five stores in the Pacific Northwest. The retail scene was beginning to change and the Brunner’s sensed an opportunity to develop a quality lifestyle business that focused on personal care. The new business would go beyond just body care creams, lotions and essential oils. It would extend into the other areas this customer spends her personal time in, such as yoga and fitness training.

When the Planet store locations were sold and the idea for Bluespa began to take shape.

Personnel Table

Our outside management advisors provide a significant asset to Bluespa. They provide management with a valuable sounding board for strategic and creative decisions. They provide a deep experience base in all critical areas.

Dane Johnson – marketing and graphic design: Mr. Johnson has been a senior marketing executive with Adidas and Nike. He has extensive experience in both media and product design.

J. Victor Fandel – real estate and strategic planning: Mr. Fandel was the co-founder of Terranomics realty. He sold Terranomics to Federal Realty and started Fandel Realty Group. His clients include Polo-Ralph Lauren, AnnTaylor, Donna Karen, LVMH and Adidas.

W. John Short – strategic planning and finance: Mr. Short began his career with Citibank in Latin America and Hong Kong in their Corporate Finance and Commercial Banking Group. After nine years with Citibank he joined Esprit Far East as president and chief operating officer. Before retiring he had attained the position of president and CEO of Esprit Europe and Esprit International.

R. Gordon Gooding – strategic planning and finance: Mr. Gooding is president and chief financial officer of Naartjie North. Naartjie is a multi-national children’s clothing retailer. Prior to his involvement in the Naartjie project, Gordon spent three years in the private banking industry in the Cayman Islands. Before his banking experience he worked for KPMG in audit and taxation for five years in both the Caymans and Vancouver, Canada. Gordon received a bachelor of commerce degree from the University of British Columbia, and a CA designation from the Canadian Institute of Chartered Accountants.

Devin Wright – apparel design and manufacturing: Mr. Wright is the president and founder of AMG. AMG is a manufacturer of high-quality sports apparel. Their clients include Nike, Adidas and Columbia sportswear.

Karen Alweil – wholesale distribution: Ms. Alweil has over 12 years experience in wholesale sales management. Then she opened her own sales agency in Los Angeles. Her showroom specializes in body care and accessories. She was instrumental in the successful launch of Neal’s Yard aromatherapy line in the United States.

Paul LaBruna – fixture design and manufacture: Mr. LaBruna have created and managed the growth of one of the most successful and highly respected fixture resources in America. They have been instrumental in assisting with major rollouts for The GAP, AnnTaylor, Talbots, Williams Sonoma and Levi Strauss.

Peter Glen – emerging trends and consumer marketing: Mr. Glenn is a respected trend guru. He has written several books on the subject and writes a regular column for Visual Merchandising and Store Design. He is a global trend consultant for many top retailers in the U.S. and Europe.

Wayne Badovinus – strategic planning and catalogue retailing: Mr. Badovinus has over 30 years of retail and catalogue experience with such highly respected firms as Williams Sonoma (where he was President and COO) and Eddie Bauer, where he held the position of president and CEO Under Mr. Badovinus’ guidance Bauer grew from $250 million to over $2 billion.

Financial Plan investor-ready personnel plan .">

Key assumptions.

Our assumptions are detailed in the proceeding tables. We have planned for relatively slow but stable general economic growth and an interest rate on borrowing of 9.5%. Because our business is a combination of retail and wholesale our collection days may look somewhat optimistic. That is caused by our assumption that approximately 70% of our retail sales will be done on credit cards and debit cards. There is a three-day payment lag on these sales. We assumed that wholesale customers would pay on an average of 50 days and that in year one 60% of our business would be on terms. As we develop our customer base (at wholesale) this number is ramped up to 80% by year five. (Our terms will be C.O.D. on all opening orders.) Our payments to vendors are assumed at 45 days.

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

Start-up costs are shown in three areas. The first is in the start-up table, the second is within the cash flow assumptions and the third is in the P&L.

• Start-up expenses: legal (incorporation and trademark registration), stationery (business cards and office supplies), etc., brochures, consultants (graphic design for logo and packaging), research and development (architecture fees for store and trade fixture design).
• Start-up costs expressed in year one cash flow: FF&E for first Bluespa retail store.
• Start-up costs included within year one P&L: brand marketing, management staff, travel costs to coordinate product development.

Start-up Expenses referenced in retained earnings: 

Legal $2,500

Stationery etc. $3,000

Brochures $10,000

Consultants $15,000

Research and Development $30,000

Expensed Equipment $60,000

Other $50,000

TOTAL START-UP EXPENSES $170,500

Sources of Funds

The start up expense for this company is $420,000. There is $100,000 in current borrowing, $256,000 from founder Ray and $64,000 from founder Barbara. 

Projected Profit & Loss

Projected balance sheet, projected cash flow statement.

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Where to watch Miami Open men's final: Live stream Sinner vs. Dimitrov

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The Miami Open men's singles competition is coming to a close, with the final match set for today at 3 p.m. ET. Jannik Sinner and Grigor Dimitrov will duke it out on the court to determine the ultimate champion. If you're looking for a way to watch the match without cable, we've got you covered. Keep reading to learn where to watch the Miami Open men's final.

This year's Australian Open winner, Jannik Sinner, excelled in the semifinals on Friday as he dispatched Daniil Medvedev in a little over an hour. That match reversed the fortunes of last year's Miami Open final, which saw Medvedev beat Sinner. The Italian is undoubtedly the in-form player right now, but Bulgaria's Dimitrov has seriously impressed in Miami, dispatching Carlos Alcaraz and Alex Zverev in the last two rounds, adding even more disruption to the men's game right now - which is needed for a while now.

Whether you've been following the entire competition or you're just here to catch the finals, we'll show you how to tune in to the Miami Open men's singles final from home. We'll also show you how to access your live TV subscriptions from anywhere in the world.

• See also: How to watch March Madness | Free F1 live stream | How to watch MLB live streams

Where to watch Miami Open men's final in the US

The Miami Open is available on the Tennis Channel in the United States. If you don't have cable, you'll need to try a live TV package that offers this channel, like Sling TV or Hulu + Live TV. 

Sling TV will be the more affordable option here, coming in at $51 per month. You'll need to choose the Sling Orange plan for $40 per month and then add Sports Extra for $11 per month. 

For just the essentials without any extra fluff, Sling TV is the streaming service you're looking for. It's more customizable than other plans, with three options you can choose from, so you pay for only what you need. New members get their first month for $10 off.

Hulu + Live TV will cost more, but it includes Disney+, ESPN+, and Hulu's on-demand collection. The service starts at $76.99 per month, but you'll need to also buy the Sports Add-on for $9.99 (making it $86.98 per month in total).

Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus. Adding live TV drives up the price significantly, but it's a rolling one-month contract that you're free to cancel at any time. As live TV services go, though, this is one of the best.

How to watch Miami Open men's final from anywhere 

If you will be traveling outside the US during the men's final, you might want to try a VPN (virtual private network). VPNs change your device's location so you can access websites and apps that might be unavailable in certain regions. They're also solid ways to boost your online security and privacy. Since the live TV options we've suggested require US forms of payment, this option is best for Americans who are currently out of the country and hoping to use their existing live TV subscriptions.

Our go-to is ExpressVPN , a tried-and-true option with a 30-day money-back guarantee. Interested in learning more? Check out our ExpressVPN review and see below to learn how to use a VPN.

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• Select the Tennis Channel and enjoy the competition.

Note: The use of VPNs is illegal in certain countries, and using VPNs to access region-locked streaming content might constitute a breach of the terms of use for certain services. Insider does not endorse or condone the illegal use of VPNs.

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