How to Write a Hair and Eyelash Extension Business Plan

How to Write a Hair and Eyelash Extension Business Plan

The hair and eyelash extension industry has been growing at a rapid pace across the US in the last several years for so many different reasons, which continually drives up demand for hair and eyelash extensions business plans, hair and eyelash extensions business plan templates, and hair and eyelash extensions proform financial projections.

Numerous reasons exist explaining the escalating demand for hair and eyelash extensions business plans across the United States.  Initially, the surge in popularity of hair and eyelash extensions can be attributed to influential figures in pop culture, as well as the prevalence of social media platforms like TikTok.  These influencers and performers on TikTok consistently employ hair extensions and eyelash extensions in inventive and imaginative ways, fueling the demand for these products and services.  Additionally, the industry witnesses a constant influx of pioneering hair and eyelash extensions.  These innovative developments enable customers to creatively incorporate the latest trends into their personal style.

Irrespective of the factors driving the growth of the hair and eyelash extension sector, preparing a meticulously crafted hair and eyelash extension business plan has become nearly customary.  Consequently, our hair and eyelash extension business plan writer has formulated some valuable recommendations for entrepreneurs to consider when composing their own hair and eyelash extension business plan, utilizing a business plan template, or creating pro forma financial projections (10/23).


Executive Summary for a Hair and Eyelash Extension Business Plan.

The executive summary section of a hair and eyelash extension business plan necessitates a concise depiction of both the internal and external facets of the business.  For instance, when our business plan writer drafts a business plan for a hair and eyelash extension enterprise, we directly extract segments from the actual business plan for inclusion in the summary.  Subsequently, we eliminate extraneous details from the extracted portions.  For instance, in the case of hair extension services, we may exclude specific details about the range of hair colors the business offers.  By adhering to this approach, the business plan writer not only conveys a succinct description of the services but also preserves the comprehensive details of the entire business plan.

Company Information and Location for a Hair and Eyelash Extension Business.

The section containing company information for a hair and eyelash extension business should commence by providing a concise overview of critical business elements.  For example, our business plan writer often initiates this section by introducing the company's name and legal business structure, summarizing the services offered, and outlining its competitive advantage, all within the initial paragraph.  Following this structure, the business owner can capture the reader's attention and offer a broad understanding of the business's objectives and operational approach before delving into specific details.  Essentially, it serves as a condensed version of the executive summary, focusing on company particulars.

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Product Description  and Competitive Advantages for a Hair and Eyelash Extension Business

The product description section for this particular business should be notably comprehensive.  Within this section, proprietors of hair and eyelash extension establishments should elaborate on the varieties and hues of eyelashes and hair extensions available through their business.  Furthermore, business proprietors should elucidate the reasons behind the superiority of their hair extensions or eyelashes when juxtaposed with other local establishments.  An illustrative instance of this would be that hair extension installers possess substantial training or employ state-of-the-art products.  By establishing a distinguishing factor in this section, business owners can demonstrate to readers the presence of a distinctive market opportunity.

Target Market for a Hair and Eyelash Extension Business

In the past few years, identifying the target market for a hair and eyelash extension business was relatively straightforward.  It primarily comprised women seeking to elongate their eyelashes or attain lengthy hair.  However, owing to recent technological advancements and societal shifts, the target market for this industry has broadened to encompass men of all age groups.  Not only has long hair for men made a resurgence in style, but innovations in hair extensions have also aided older gentlemen in avoiding using wigs.

Industry Research for a Hair and Eyelash Extension Business Plan

Conducting industry research for the hair and eyelash extension sector can pose challenges for particular business proprietors.  This is primarily due to the fact that third-party information gatherers often neglect this industry due to its highly specialized nature.  Fortunately, there are dependable websites and enterprises that provide valuable industry research for the hair and eyelash industry.  BrandonGaille's website, for instance, offers comprehensive industry statistics that can be utilized.  For instance, the website projects that the eyelash and hair extension industry is poised to surpass $1.5 billion in annual sales in the coming years.  Another reliable source of information can be found on Grandviewresearch.  On this platform, researchers have indicated that the eyelash extension industry alone is experiencing a robust annual growth rate of approximately 5.4%.  This clearly demonstrates that the industry is expanding at an above-average pace in comparison to other segments within the realm of hair styling and hair care.

Owner and Management Section of a Hair and Eyelash Extension Business Plan

The owner and management section of a hair and eyelash extension business plan should primarily emphasize the owner's educational background and professional experience.  Education holds significance as clients seek assurance that eyelash and hair extension technicians have undergone adequate training to ensure the durability of the products.  Moreover, experience plays a vital role because an extensive tenure in the industry implies a loyal clientele and a track record of delivering satisfactory results, which can instill confidence in potential customers.

Funding Request for a Hair and Eyelash Extension Business Plan

Embarking on the journey of establishing a hair and eyelash extension business invariably necessitates securing financial resources.  Primarily, business proprietors typically explore options such as attracting investors or seeking bank loans.  The funding required for establishing a physical storefront operation can easily exceed $250,000 or even more.  Nevertheless, some business owners opt for a modest start.  These entrepreneurs may operate from the comfort of their homes or rent a booth within a pre-existing storefront operated by a hairstylist.  Irrespective of the chosen startup approach, it is imperative for a business owner to possess a clear vision regarding the trajectory they intend to pursue within the hair extension and eyelash extension business.  Once this vision has been documented, the subsequent step is to outline the necessary actions and funding required to realize this vision.

Financials for a Daycare Hair and Eyelash Extension Plan.

When formulating the financials for a hair and eyelash extension business, it is crucial to determine the pricing structure for each service.  Subsequently, undertake comprehensive research to ascertain the costs associated with individual eyelash extensions and hair extensions.  Once these cost components have been identified, proceed to estimate the daily client intake desired for both hair extensions and eyelash extensions.  Upon gathering this pertinent information, calculate the total revenue generated from each hair extension client by multiplying it by the service price and subsequently subtracting the associated variable costs for the service.  Next, repeat this process for eyelash extensions.  Upon completion, sum up the profits derived from hair and eyelash extensions.  This cumulative figure represents the gross profits anticipated for your proposed venture.

Hopefully, these insightful tips and tricks for writing a business plan were helpful.  As always, if you need help with a business plan or financial projections, send us an email or give us a call. 

Author: Paul Borosky, Doctoral Candidate, MBA., Author

Owner of: Quality Business Plan and Quality Business Consultant.

Date: 10/20/2023