Cosmetology Business Plan
Patilad Cosmetology is set to redefine how neighbourhood based Cosmetology and beauty business should be run, not just in Ogudu, but also in the whole of the Lagos. This is why we have put plans in place for continuous training of all our storekeepers and other back-office staff members at regular interval.
No doubt the demand for hair care and shower products, Cosmetology, skincare products, fragrances and other related products is not going to plummet any time soon, which is why we have put plans in place to continue to explore all available market around the communities where we intend opening our chains of companies. In the nearest future, we will ensure that we create a wide range of distribution channels via franchising. With that, we know we will be able to maximize profits in our business.
Our strongest selling point at PatiladCosmetology is the unique strategy of ensuring that we have hair care and shower products, Cosmetology and other related products et al at all times in our stores. There is hardly any customer who would visit our company who would not see the kind of products that they are looking for and who would want to come back and make more purchase – we take delight in welcoming repeated customers over and over again.
PatiladCosmetology will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.
Table of content
Executive Summary 4
Business Description 9
Products and Services 12
Market Analysis 14
Competitor Analysis 16
Sales and Marketing Plan 17
Operational Plan 21
Management Plan 24
Financial Plan and Projections 26
Patilad Cosmetology is a start-up company located at Ogudu, Lagos. Patilad expects to catch the interest of a regular loyal customer base with its broad manufacturing and retailing of a variety of cosmetic products like liquid soap, air freshner, Vaseline, jik, izal, hair cream treatment, detergent, body oil, perfume, shampoo, car wash, etc. The company plans to build a strong market position in the town due to the partners’ industry experience and mild competition in the area. Patilad Cosmetology aims to offer its products and services at a competitive price to meet the demand of the middle-to higher-income local market area residents.
Patilad Cosmetology will be established as a limited liability company owned by Oyebade Adejumobi and Akinyemi Femi. The company will be managed and overseen by Oyebade Adejumobi, a first-class cosmetologist of over twenty years working for some of the leading brands in Nigeria.
The company’s main office is located at Ogudu, Lagos State. The leased office space should be sufficient for planned staff size growth within the first few years.
Products and Services
Patilad Cosmetology cosmetology is into the manufacturing and retailing of Cosmetology products such as liquid soap, air freshner, Vaseline, jik, izal, hair cream treatment, detergent, body oil, perfume, shampoo, bathing soap, car wash, etc.
These products are produced to meet the ever-growing demand for low-cost high-quality products that are compatible with what the average Nigerian can afford and still guarantee its suitability to their different skin type. We have a training arm where we train people on how to run a successful Cosmetology business. It comprises of 5 weeks of lectures, practical and hands-on training.
We also offer consultancy service on any of our products. The benefits our products and services are high quality, varieties of products, prompt delivery services, excellent customer care service, online ordering for both training and products and loyal network distributors.
The Cosmetology industry in Lagos has recently experienced rapid growth and Patilad Cosmetology will position itself to cater for this fastidious market. The local customers are looking for a high-quality product in a relaxing atmosphere, where they can meet friends and refer a family to.
Patilad Cosmetology wants to establish a large regular customer base, and will, therefore, concentrate its business and marketing on local residents, which will be the dominant target market. This will establish a healthy, consistent revenue base to ensure the stability of the business.
In addition, customer traffic is expected to comprise approximately 35% of the revenues. High visibility and competitive products and service are critical to capture this segment of the market. Without a shadow of doubt, a Cosmetology business is indeed a profitable business because it is a fact that people all over the world make use of Cosmetology, perfumes, toiletries and personal grooming products.
The running cost for this type of business is pretty low and if you are able to secure a strategic high traffic location or a good shop in a shopping mall, you can rest assured to take in good returns from your business. The industry is a thriving sector of the economy of Nigeria and most countries of the world and is responsible for the employment of well over 230, 572 people.
In the true sense of the word, so many other competitors are in the same town, a couple of other Cosmetology manufacturing companies also exist in the neighbouring towns. Despite the similar business in the area, Patilad Cosmetology will contain a few beneficial strengths to make it more desirable than its competitors. The central location of our Patilad will be an additional value aspect of the company.
Patilad Cosmetology is launching a standard Cosmetology manufacturing company that will indeed become the preferred choice of Ogudu residents. Our company is located in a corner piece property on a busy road and we have enough parking space that can accomm0date well over 20 cars per time. Our competitive edge also lies in the fact that we manufacture and retail a wide range of products that will be readily available at all times. Our excellent customer service culture, various payment options and highly secured facility will serve as a competitive advantage for us.
Patilad Cosmetology seeks N5 million in long-term financing to cover start-up costs, equipment, building expenses, and working capital. Funding for the launch of the business will be provided primarily by equity from the partners and investors.
Our market survey and research show that Patilad Cosmetology holds the promise of reaching positive cash flow in its 12th month of operation. The advantage of this is the provision it makes for accelerated repayment of its loan obligations, as well as for dividends to be paid to the owners.