Industry info

[Wendyk]

hi

Im trying to write a business plan and need to inlcude industry info. Things like how much the beauty industry is worth and where its set to go and how this will benefit my business.

Does anyone know where i can get any good up-to-date info?

Thanks x

 

[tog]

Read Ilovethesun's post on this forum, there's a little bit of useful info in it and a website link too I think.

 

[RedAdmiral]

I didnt include any of that in my business plan - I said the industry was in a boom and said why I thought so - TBQH the Bank Mangaer doesnt have a notion about beauty other than its BIG business! Get some statistic from google or something. My business plan was WHOLLY how I fitted into the industry, what I would do to the industry and how I would be a sound investment/partner for them.

These days it is soo competitive so you are probably investing in specialised equipment and doing more advanced services so tell them why you are different from Mary down the road and how your research has led you to see that clients want more so your salon will give it to them.
The bank asked to keep a copy of my business plan on file as they thought it was so good, they didnt know anything about nails before I came in!!! (I didnt let them!)

 

[Wendyk]

Thanks tog and Red Admiral. Your advice has helped me alot i'll definetly start writing more about why my treatments are better than my competitors.

 

[Katykitten]

I got some figures from Mintel when I put my business plan together. May be worth a look

HTHs xx

 

[RedAdmiral]

I'm sure you can also get figures from the council, I got a projected developement plan (courtesy of my other half) but that was the most technical bit. I'm the only nails only nailbar so I hammered that home - I AM A NAIL SPECIALIST!

 

[DB9]

i wouldnt worry too much about stats and figures (as in what the industry is worth) - the banks/local grant people usually want more focus on YOUR projected turnover, i.e. if you already have a client base of say 20 regulars, you can work our potential earnings from them over the course of a year. It is a long and tiresome process but its worth it when its done!

As long as you can show your breaking pretty much even after the first year (you may have to boost figures at key times throughout the year, like a few extra sets of nails over xmas period, valentines, summer hols etc), you'll be set to go! dont stress over it as the business plan isnt the end of the world, it'll fit together easier as you plough through it

Good Luck!