Preparing a business plan is a must for starting any business and the plan must include all of the important information.
How to prepare a business plan for a cosmetics business?
1. Business details
Business plan should contain information like how the business will be operated, what is the structure of the business, what are the brands you will be selling, whether it is a proprietorship or partnership, the location of the store/shop, the vision of the business, the financial projection, the expected growth, etc.
2. Equipment required
Next thing is the equipment required. Include information on how the business tasks will be managed, the number of staff needed, the equipment needed like display counters, mirrors, shelves, etc.
3. Capital requirement
The business will also require some capital whether it be to rent the place for the shop, to maintain the daily business tasks, for display counters, maintenance costs, staff salary, other bills, etc also have to be mentioned in the business plan.
Other than this how the capital would be raised also have to be mentioned.
Information like the mode of loan i.e. via a bank, NBFC or friends and family have to be mentioned.
4. Market research
Conducting market research and doing some analysis before starting the business is important.
Details on the competition, why they are successful, what is the marketing strategy they use, how are their product prices, needs and demands of the custoemrs, how you intend to be different for your competition, etc has to be mentioned. How will you be making a marketing and advertising plan to attract more custoemrs is important to be included in the business plan.
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