Business Plan - Market Description ?????

[Pink Pink Pink]

I am sooooo confused!!
I am in the process of writing my business plan and keep avoiding this particualr section. I want to add info on the beauty market but don't know exactly what is relevant to add or where to find the information. I am looking at the moment at:

• The size of the beauty market;
• Trends and growth areas within the market.

Where do I start????????????????

If anyone can help me with this damn business plan I would LOVE YOU FOREVER!!!!!!!!!

Big Hugs

Debs xx

 

[selmarose]

You can search on line for "Beauty Industry Market Trends" In the US we have business development centers at local colleges that will guide us. Look for something similar for Europe. Also we have a "Department of Business and Industry" that give statistics. Look for local demographics that fit current trends. Age groups that will be interested in the services you provide. Look for under-served markets. Look at your competition. Again-LOOK AT YOUR COMPETITION! Look for what they are doing and what they are not doing. EVERY individual is a potential client. Once you have identified your TARGET MARKET then you can talk about how you will best meet their needs. Also look on line at other business plans. There are lots of them posted. It is OK to use them as examples and even copy them. You are doing fine. Don't let your plan intimidate you. When you have done all you can, sleep on it. If there is more to do it will come to you. Your plan is your best friend but it can sure feel like an unfed monster.

 

[Pink Pink Pink]

Thanks.
I found a relevant beauty survey which has helped but I've gotta do a sales analysis / profit targets.

I just don't even know where to start.
I can only see business plans online which you have to buy??

Gonna speak to my old boss who said she'd help but only after xmas?!

Ugh, I hate business plans!!

 

[selmarose]

I know they can be a pain in the A--. The only business I ever had that failed was the one I didn't think I needed a plan for. If you have help available that's great. Use all the resources at your disposal. Keep at it. You will be glad you did in the end. Keep us posted I'm rooting for you! PS when you search online use "free business plans"

 

[lushtan&beauty]

Hi im in exactly the same boat. i got a template business plan from business link and i just stare at the questions and my mind goes blank.
iv been tryin to do it for weeks now. can u tell me where u managed to get the info from re market info.

Thanks

 

[JenniS]

Here's a couple of links that might help hun
x

Hair and Beauty Salon Sample Business Plan - Executive Summary

NatWest Free Business Planning Software

 

[kadz]

Thanks.
I found a relevant beauty survey which has helped but I've gotta do a sales analysis / profit targets.

I just don't even know where to start.
I can only see business plans online which you have to buy??

Gonna speak to my old boss who said she'd help but only after xmas?!

Ugh, I hate business plans!!

hi as you said that you found a relevent beauty survey can you help me that which site did you found out thanks

 

[xAnnaBannAx]

Hi I am currently doing a business plan too but I have my very own business advisor ( yaaayyyy!! lol) Perhaps you could contact business link and welland women and see if you are able to get any help off them?

My business advisor is brilliant and knows exactly what shes doing...I dont know what id do without her! x

 

[kellyk]

This helped me ! :green: http://www.beautyserve.com/Downloads/Survey/BeautyIndustrySurveyResults2007.pdf

 

[Pink Pink Pink]

Kellyk has the link I used.

Sorry, haven't been on in a while xxx

 

[mailvarnish]

Hi, I posted a thread called something along the lines of "gaps in the - what salon owners should know". That information is taken from recent research in the market. The size of the market means how much is the market worth in the UK, approximately how much are UK consumers spending annually etc. You might be able to find this info on the HABIA site. Growth/trends in the market refers to how the market is changing- is it growing, which areas are growing, how are you going to serve these growth areas. For example, the male grooming market is a growth area.
Hope that helps