Beauty Supply Store Executive Summary
Tanya’s Beauty Supply Store is a newly established, independently owned beauty supply store located in Las Vegas, Nevada. Tanya’s will be the go-to supply store for anything and everything beauty supply related. The beauty supply store will be located in a popular high-trafficked area where thousands of Las Vegas residents with disposable income frequent. It is known as Fashion Square where there are trendy boutiques, salons, and businesses all within walking distance. Tanya’s customer base will consist of males and females from all walks of life that shop for hair products, makeup, skin products, and nail products. The salons in the area will also purchase their salon inventory from Tonya’s Beauty Supply Store.
Tanya’s Beauty Supply Store will feature all beauty supply products for hair, nails, skin, makeup, and accessories. Anything that is found at a full-service beauty salon can be found at Tanya’s Beauty Supply Store.
The following are the products to be offered by Tanya’s Beauty Supply Store:
- Hair color
- Hair care
- Hair tools and brushes
- Nail products
- Makeup and makeup accessories
- Skin care products
The customer focus for Tanya’s Beauty Supply Store will target all men and women in Las Vegas ages 16 – 69 who regularly purchase beauty products for their hair, skin, or nails. This target market will have disposable income and will be able to afford to frequently purchase beauty supply products. They will also target local salons to be able to provide the products they use and sell in their salon. Tanya’s Beauty Supply Store aims to be the go-to destination for anything beauty related in Las Vegas.
Tanya will manage the day-to-day aspects of the beauty supply store, order product inventory, design the displays, hire and train the staff, and post on the business’ social media accounts. Tanya will also manage the partnerships and contracts she will have with the local salons. She will hire an assistant store manager to assist with administrative functions, product inventory, and manage the store when Tanya is unable to be there. To start with, Tanya will hire a staff of 6 – 8 part-time and full-time employees to assist with stocking of the merchandise and offer exceptional customer service. As the business grows and it is financially able to do so, Tanya’s Beauty Supply Store will hire more supervisors and employees in order to meet growing customer demand.
Download the beauty supply store business plan template (including a customizable financial model) to your computer here <–
Tanya’s Beauty Supply Store is primed for success by offering the following competitive advantages:
- Wide selection of every type of beauty supply – if you need anything beauty related, Tanya’s Beauty Supply is sure to have it!
- Cost effective pricing that beats all local competitors. Tanya’s will carry the lowest prices in town without sacrificing quality.
- Tanya’s Beauty Supply is able to sell to individuals as well as supply full salons. The large inventory list is sure to be able to service any type of salon – large or small.
- Competitive pricing model for salons who choose to purchase their salon inventory from Tanya’s. There will be larger discounts for the larger orders. The more a customer orders, the more discounts they are able to receive.
Tanya Mendez is seeking $500,000 in debt financing to open a beauty supply store in Las Vegas, Nevada. The funding will be dedicated for product inventory, leasehold improvements, working capital, advertising agency and website developer fees, and three months of payroll. The breakout of the funding is below:
- Beauty supply store design/build: $100,000
- Opening inventory: $300,000
- Working capital: $25,000
- Three months of payroll: $45,000
- Advertising agency and website developer: $30,000
The following graph below outlines the pro forma financial projections for Tanya’s Beauty Supply Store.