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Hair Extensions Business Plan Template

Written by Dave Lavinsky

Hair Extensions Business Plan

You’ve come to the right place to create your Hair Extensions business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Hair Extensions businesses.

Below is a template to help you create each section of your Hair Extensions business plan.

Executive Summary

Business overview.

Hairapy Extensions is a new hair extensions shop located in the heart of Los Angeles, California. Our mission is to make every customer feel empowered and beautiful by providing them with the perfect hair extensions and hair care products. We do this by offering every style and color imaginable so that every customer can find exactly what they want to feel and look their best. With our amazing customer service and enormous selection, we hope to be the most popular hair extensions store in the city in the next few years.

Hairapy Extensions is founded by Angelina Matthews, who has been a hairstylist for five years. Throughout her career, he has sold and inserted hair extensions for hundreds of customers and has found it to be the most enjoyable part of her job. As such, she has extensive knowledge of hair extensions and how to insert and care for them. Her experience and expertise will be the company’s most valuable asset.

Product Offering

Hairapy Extensions will showcase a wide variety of hair extensions throughout our store. Our hair extensions will come in all colors, from natural hair colors to fun dyed colors like pink or blue. We guarantee that every customer will find the perfect hair extensions that fit their style and budget. We also sell hair care supplies and accessories to ensure that our customers’ new hair extensions last as long as possible.

Customer Focus

Hairapy Extensions will serve the community residents of Los Angeles, California, and its surrounding areas. We will primarily target female and female-identifying people, as this group is traditionally the most likely to buy hair extensions and hair care products. We also expect most of our clientele to be in the age range of 20-40, as young women are much more likely to get hair extensions than women in other age ranges.

Management Team

Hairapy Extensions is led by Angelina Matthews, an experienced hairstylist and salon manager with over five years of experience. Throughout her career, she found inserting hair extensions to be the most enjoyable aspect of her job and wanted to build a company that solely focuses on hair extensions. After years of planning, she is finally ready to start her business. Her extensive knowledge of hair extensions and the industry will be the company’s most valuable asset.

Success Factors

Hairapy Extensions is primed for success by offering the following competitive advantages:

  • Friendly and attentive staff who will go out of their way to find the perfect hair extensions for each customer.
  • Comprehensive supply of hair extensions that includes every color and texture imaginable.
  • Cost-effective pricing that rivals the competition without sacrificing service or quality.

Financial Highlights

Hairapy Extensions is currently seeking $280,000 to launch. The funding will be dedicated to the store design and buildout, working capital, overhead, supplies, and marketing costs. The breakout of the funding is below:

  • Store design/build: $150,000
  • Initial inventory, supplies, and technology: $50,000
  • Payroll, rent, and overhead costs (3 months): $30,000
  • Working capital: $25,000
  • Marketing expenses: $25,000

The following graph below outlines the pro forma financial projections for Hairapy Extensions.

Hairapy Extensions Pro Forma Financial Projections

Company Overview

Who is hairapy extensions.

Hairapy Extensions is a new hair extensions shop located in the heart of Los Angeles, California. We provide an enormous selection of hair extensions to choose from, with every style and color imaginable. Customers can get natural colors to match their natural hair, such as blond, brunette, or red. They can also get dyed hair extensions if they want to add some color to their hair, such as blue, purple, pink, or green. Customers can expect to find the perfect hair extensions that fit their style and budget when shopping with Hairapy Extensions.

  Our store will be located in downtown Los Angeles, nearby fashion stores, hair salons, and other hair care stores. We will also have an online shop for those who don’t live in Los Angeles or can’t make it to our location to make a purchase in person.

Hairapy Extensions’ History

Angelina Matthews incorporated Hairapy Extensions as an S-Corporation on August 1st, 2023. Angelina has identified a potential retail location and is in the process of negotiating a lease. The company is currently being run out of her home but will move to the retail space once the lease is finalized.

Since its incorporation, Hairapy Extensions has achieved the following milestones:

  • Found a retail space and signed a Letter of Intent to purchase it
  • Developed the company’s name, logo, and website
  • Determined equipment and inventory requirements
  • Begun recruiting key employees with previous experience in the beauty/hair care industries

Hairapy Extensions’ Services

Hairapy Extensions will sell a wide variety of hair extensions online and in our store. We will offer several styles and every color imaginable, including numerous shades of blond, brown, red, pink, purple, and blue. Whether a customer wants longer hair, a style change, or a little bit of color without dye, we can find the perfect extension to fit their needs and budget. We also sell hair care products that ensure the extensions last as long as possible.

Industry Analysis

Hair extensions have been a part of style and fashion for centuries. In the past, hair extensions exemplified power and position and created lasting fashion trends. They were used to thicken and lengthen hair as well as to maintain a youthful appearance. It is believed that many powerful figures used hair extensions, including Cleopatra and Queen Elizabeth I.

The current hair extension industry is a thriving industry that helps many people show off their unique style and feel more comfortable in their bodies. Many people purchase hair extensions when they want to try a certain hairstyle but can’t pull it off naturally. Hair extensions are also popular amongst people who want to color their hair without destroying it with dye and bleach. Finally, hair extensions help many people suffering from thinning hair due to age or illness.

According to Future Market Insights, the current hair extensions industry was valued at $2.38 billion last year and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from now until 2032. The industry is positively affected by the rise in disposable income as well as beauty trends created and spread by social media. These trends are expected to continue, and the hair extensions industry is expected to thrive for the foreseeable future.

Customer Analysis

Demographic profile of target market, customer segmentation.

Hairapy Extensions will primarily target the following customer profiles:

  • Women/female-identifying people
  • Young adults
  • People with conditions that affect their hair

Competitive Analysis

Direct and indirect competitors.

Hairapy Extensions will face competition from other businesses with a similar company profile. A summary of the competitor companies is below.

Hair Heaven

Hair Heaven is a major online warehouse that sells wigs and hair extensions. They have every color and style imaginable, which makes them an incredibly popular hair extensions supplier nationwide. They are particularly popular with beauty supply stores as they can sell their products wholesale. Though Hair Heaven is a popular source of hair extensions, it is a completely online store. Customers who want to talk with a professional and purchase hair extensions in person will be more inclined to come to Hairapy.

Lanie’s Wig & Hair Supply

Lanie’s Wig & Hair Supply is a small, locally-owned supplier of all things hair care. This includes organic shampoos, hair extensions, wigs, and accessories. They offer many colors and styles of wigs and hair extensions to choose from, and many customers report being satisfied with their products. The store also has a few hair stylists on standby who can help them clean and style their hair extensions and wigs as needed. Though Lanie’s will continue to thrive, their selection is much smaller than ours. Our inventory will be far more enticing, and we will be able to find hair extensions for far more customers than Lanie’s can.

Sally’s Salon

Sally’s Salon is a popular and hip hair salon business located in downtown Los Angeles, California. People all over the city come here to get their hair cut and styled to keep up with current fashion and trends. In addition to providing hair styling services, Sally’s sells a large assortment of wigs, hair extensions, and hair care accessories. Customers can choose some hair extensions and have a stylist insert and style them all in the same appointment. Since Sally’s is such a popular salon, we expect them to be our biggest direct competitor.

Competitive Advantage

Hairapy Extensions will be able to offer the following competitive advantages over their competition:

  • Management : Our management team has years of experience in the hair care industry, which allows us to sell to and serve customers in a much more sophisticated manner than our competitors.
  • Friendly Staff : Our staff understands that buying hair extensions can be a stressful and difficult process, especially for those who need them to hide their thin or damaged hair. Hairapy Extensions only hires the friendliest staff who can work with these customers in a compassionate manner.
  • Inventory : Hairapy Extensions aims to own the largest and most diverse collection of hair extensions that can be found anywhere in Los Angeles, California.

Marketing Plan

Brand & value proposition.

Hairapy Extensions will offer a unique value proposition to its clientele:

  • Friendly and helpful staff
  • Affordable pricing on all products
  • A large inventory of unique and stylish hair extensions that include every color and style imaginable

Promotions Strategy

The promotions strategy for Hairapy Extensions is as follows:

Influencer Marketing

Hairapy Extensions will partner with local beauty influencers to spread the word about the company. The company will offer discount codes to the influencers’ audiences to entice them to shop our products.

Angelina Matthews will invest in appealing billboards and marketing techniques for the company. The billboards will be located in highly trafficked areas of Los Angeles where the visibility is highest.

Social Media

Hairapy Extensions will have Instagram and Facebook business profiles where Angelina will post professional and appealing pictures that will draw in anyone looking for hair extensions. The posts will be able to show the beautifully designed store as well as satisfied customers with their new hair extensions. Angelina will also post upcoming specials and special offerings.

Website & SEO Marketing

The marketing assistant will design and manage a comprehensive and attractive website for Hairapy Extensions. The website will be easy to navigate and include pictures of our products, pricing, contact information, and location. The SEO will also be managed to ensure that anyone searching “hair extensions near me” or “hair extensions Los Angeles” will see Hairapy Extensions listed at the top of the Bing or Google search engine.

The pricing of Hairapy Extensions will be moderate and on par with competitors so customers feel they receive value when buying our hair extensions.

Operations Plan

The following will be the operations plan of Hairapy Extensions. Operation Functions:

  • Angelina Matthews will be the Owner and President of the company. She will oversee the general operations of the store as well as provide customer services and sales. Angelina will spend the next several months hiring the following staff:
  • Several associates who will provide customer service, sell products, and help insert hair extensions for customers.
  • An Accountant who will manage all client invoicing, billing, and payables.
  • A Marketing Assistant who will run all the marketing and promotions campaigns.

Milestones:

Hairapy Extensions will have the following milestones completed in the next six months.

  • 9/1/202X – Finalize lease agreement
  • 9/15/202X – Begin build out and design
  • 10/1/202X – Begin hiring essential staff
  • 10/15/202X – Finish build out and design; final walk-through of store
  • 11/1/202X – Begin marketing campaign
  • 11/15/202X – Grand opening of Hairapy Extensions

Though Angelina has never run a business herself, she has been in the industry long enough to have an in-depth knowledge of the operations and marketing sides of the business. She will also hire other professionals who can help with the other aspects of the business she is unfamiliar with.

Financial Plan

Key revenue & costs.

The revenue drivers for Hairapy Extensions will be the sales of our hair extensions and other hair products.

The major costs for the company will include the costs of inventory, payroll, and overhead. In the initial years, the company’s marketing spending will be high as it establishes itself in the market.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

  • Average number of daily customers: 50
  • Average product price: $250
  • Annual Lease: $50,000

Financial Projections

Income statement, balance sheet, cash flow statement, hair extensions business plan faqs, what is a hair extensions business plan.

A hair extensions business plan is a plan to start and/or grow your hair extensions business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Hair Extensions business plan using our Hair Extensions Business Plan Template here .

What are the Main Types of Hair Extensions Businesses? 

There are a number of different kinds of hair extensions businesses , some examples include: Hair extension services, Hair extension stores, and Online hair extension sales.

How Do You Get Funding for Your Hair Extensions Business Plan?

Hair Extensions businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Hair Extensions Business?

Starting a hair extensions business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Hair Extensions Business Plan - The first step in starting a business is to create a detailed hair extensions business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your hair extensions business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your hair extensions business is in compliance with local laws.

3. Register Your Hair Extensions Business - Once you have chosen a legal structure, the next step is to register your hair extensions business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your hair extensions business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Hair Extensions Equipment & Supplies - In order to start your hair extensions business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your hair extensions business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

  • Business Ideas
  • Registered Agents

How to Start a Hair Extension Business in 14 Steps (In-Depth Guide)

Updated:   January 18, 2024

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The hair extension industry is booming. The market reached $4.06 billion in 2022 and is projected to reach $7.9 billion by 2030, according to Fortune Business Insights . More people are turning to clip-ins, tapes, and sew-ins to avoid drastic permanent hair changes.

business plan for hair extensions

This comprehensive guide will walk you through how to start a hair extension business. From researching your market and developing a business plan to obtaining a business license and location, establishing supplier relationships, hiring staff, marketing your salon, and managing day-to-day operations.

1. Conduct Hair Extension Market Research

Market research is integral to building a successful hair extensions business. There are two types of market research, primary and secondary. The primary is research you conduct yourself. Secondary is research conducted by a third party.

business plan for hair extensions

Market research is important for insight into the hair salon, hair extension, and wig business market. It tells you about potential customers, your local target market, the best places to buy hair extensions, and even the top social media accounts for marketing.

As you develop a business model for your hair extension company, here are some details to recognize:

  • Increasing demand for fashionable hairstyles and the flexibility to change styles quickly and easily.
  • The rise of celebrity culture and social media influences people’s beauty ideals and desire to emulate celebrity hairstyles.
  • More focus on overall appearance and spending on beauty services.
  • Advances in extension technology, like hand-tied wefts, tape-ins, and clip-ins that look and feel natural.
  • Growing consumer budgets for non-essential beauty services and willingness to pay premium prices for high-quality extensions.

The best opportunities in the hair extension industry include:

  • Brick-and-mortar salon businesses that sell and install extensions.
  • Specialist extension stylists who offer services independent of the salon.
  • Freelance extension application is in demand for events like weddings.
  • Selling branded hair extension products through wholesale and e-commerce channels.
  • Offering custom extension design services for television, film, theater productions, and cosplay events.

To capitalize on this growing industry, extension salon owners must focus on:

  • Stylist education and training
  • Competitive Pricing
  • Diverse extension options
  • Strong customer service
  • Consistent marketing

Overall, the hair extension market provides exciting entrepreneurial opportunities for those passionate about the beauty industry. You could even potentially improve the overall appeal of your hair extension business by providing hair braiding services or even wigs since these are also part of the hair industry.

2. Analyze the Competition

Thoroughly analyzing your competition is crucial when starting a hair extension business. This helps you identify how opponents are storing hair extensions, where to buy the best quality hair extensions, whether competitors are using fake or natural hair, and more.

business plan for hair extensions

Some ways to check out the local human hair extension businesses include:

  • Research existing salons in your geographic area.
  • Drive around town and take notes on locations, signage, customer volume, and marketing.
  • Search online directories and review sites to see services offered, pricing, ratings, and reviews.
  • Visit competitor salons as a secret shopper and evaluate customer service, quality of extensions, and the overall experience.
  • Search relevant keywords related to your location and service offerings to see what salons rank highly in local search results.
  • Study their websites closely – how optimized are they for SEO? Do they facilitate easy online booking?
  • Compare their social media followings and online reviews.
  • Sign up for email lists to analyze promotions and offers.
  • Examine their overall branding and digital marketing strategy.

By comprehensively analyzing both in-person and online competitors, you gain an accurate picture of strengths, weaknesses, and competitive gaps. You can then refine your business plan and competitive positioning to stand apart. Continuously monitoring competitors even after opening will help you stay ahead.

3. Costs to Start a Hair Extension Business

When starting a hair extension business, carefully estimating costs is essential for securing financing and setting up an effective budget.

Start-up Costs

Start-up costs are the expenses encountered as you start a new business in the hair industry. For a successful hair extension business, you’ll need to spend money on:

  • Business licensing – $50-$500 depending on location
  • Liability insurance – $500-$2000 annually
  • Hair styling equipment like salon chairs ($300-$1000 each), shampoo basins ($200-$500 each), dryer chairs ($200-$600 each), carts, mirrors, etc. Equipping stations for 2-4 stylists could cost $4000-$10,000.
  • Hair extension inventory – Budget $2000-$5000 minimum for initial extension stock including tapes, keratin bonds, clip-ins, ponytails, and other styles. Factor in a variety of textures and colors.
  • Salon lease deposit – Typically 1-2 months rent; $2000-$5000 for a small shop.
  • Salon buildout/renovations like flooring, lighting, and plumbing – $5000-$25,000+ depending on space.
  • POS system for appointment booking and retail sales – $50-$150/month
  • Website design and development – $1500-$5000 for pro site.
  • Marketing materials – $500-$2000 for signage, business cards, flyers.
  • Grand opening event – $500-$2000 for refreshments, entertainment, giveaways.
  • Professional services like bookkeeping, and payroll admin – $200-$500 monthly.
  • Initial product/supply inventory – $1000-$2000 for backbar, salon retail.

Ongoing Costs

Ongoing costs include any expenses encountered throughout the life of your hair business. Some common expenses when you operate your own business include:

  • Rent – $1500-$4000 for small leased space. More for purchased property including mortgage payments, property tax, etc.
  • Staffing – Hairstylists may be booth renters or employees. Booth rent averages $400-$1000 per station. Employing 2-5 assistants at $15-$20/hour would be $5000-$10,000 monthly.
  • Insurance – $150-$600 depending on policy
  • Utilities – $300-$800
  • Office Supplies/hair products – $500-$1500
  • Extension inventory restocking – $500-$2000 to replace sold product
  • Marketing expenses like social media advertising or SEO – $300-$1500+
  • Credit card processing fees – ~2-4% of revenue
  • Accounting fees – $200-$500
  • Shop maintenance – $500 miscellaneous repairs/upkeep

Annual expenses:

  • Liability insurance renewal
  • Licensure renewals – $50-$500
  • Continuing education – $100-$500 per stylist
  • POS system – $600-$1800
  • Accounting software – $300-$1500

Overall, total start-up costs for a small hair extension salon can range from $20,000 to $100,000 based on inventory, location, renovations, and equipment needs. Ongoing monthly expenses will typically cost between $10,000 to $25,000. Carefully estimating expenses and creating a detailed budget is key to success.

4. Form a Legal Business Entity

When starting a hair extension business, one key legal decision is choosing your business structure. The right entity can limit liability and provide tax advantages. Here are the main options:

Sole Proprietorship

A sole proprietorship is the simplest structure. You operate as an individual with pass-through taxation. However, you have unlimited personal liability for debts or lawsuits against the business. This poses risks for a salon as customers could file injury claims related to extension applications.

Partnership

A general partnership lets multiple hair stylists jointly run an extension salon and share profits. Like sole proprietors, partners have unlimited personal liability. Partnerships can also cause issues if a partner wants to exit the business. Overall, sole proprietorships and partnerships provide little liability protection.

Limited Liability Company (LLC)

A better option is forming an LLC (limited liability company). LLCs shield your assets from business liabilities, so extension clients cannot easily sue you personally. LLC profits pass through to members’ taxes, avoiding double taxation. LLCs allow flexible management and ownership structures suitable for a small salon with multiple stylists. Startup costs are low.

S-Corporation

S-corporations also provide liability protection and pass-through taxes. But S-corps have stricter ownership rules requiring shareholders to be U.S. citizens. The formal structure involves more paperwork than an LLC. Overall, an S-corp offers minimal benefits over an LLC for a hair extension business.

C-Corporation

C-corporations let you sell stock and have unlimited fundraising potential. However, C-corps come with double taxation where profits are taxed at the corporate level and shareholder level. More record-keeping and formalities are required. For a small hair extension salon, double taxation and startup costs make a C-corp disadvantageous.

5. Register Your Business For Taxes

An EIN, or Employer Identification Number, is crucial for hair extension businesses to obtain. This unique ID number is used for key purposes:

  • Opening a business bank account
  • Registering your LLC or corporation
  • Filing taxes
  • Hiring employees

Essentially it serves as your business’s social security number for interacting with state/federal agencies.

The good news is applying for an EIN is quick and free through the IRS website. Simply go to the EIN Assistant page and select “View Additional Types, Including Tax-Exempt and Governmental Organizations.” Choose “Sole Proprietorship/Individual” or “Partnership” for a simple extension salon.

Follow the steps to enter your personal information, business name and address, reason for applying, and ownership details. Submitting online takes just minutes. You’ll receive an EIN immediately in the form of a 9-digit number.

Registration for state sales tax collection, often called a Seller’s Permit, is also crucial for hair salons selling retail products. Check your state’s website for the proper forms and low registration fees, usually around $10 to $50.

6. Setup Your Accounting

Maintaining accurate financial records is critical for hair extension salon owners. Here are some ways to maintain finances when selling hair extensions as part of your hair business.

Accounting Software

With sales transactions and inventory purchases daily, using accounting software like QuickBooks streamlines tracking income and expenses. QuickBooks connects to your business bank accounts and credit cards, automatically importing and categorizing transactions.

Hire an Accountant

A bookkeeper can handle accounts receivable/payable, bank reconciliations, and produce financial statements for only $300-$500 monthly. Come tax season, an accountant will know industry specifics to maximize hair extension salon write-offs and deductions. They ensure proper sales tax collection and remittance as well.

Open a Business Bank Account

Open a business bank account to keep all personal and professional spending separate. When you own your own hair extension business, you don’t want the IRS to assume any personal spending is happening with company money. It also helps you stay organized come tax season.

Apply for a Business Credit Card

A business credit card is also advised over personal cards. Business cards require your company’s information and do factor in your credit score. Higher limits cater to your operating expenses. Charge all inventory purchases, advertising, software subscriptions, and other costs to this card.

7. Obtain Licenses and Permits

Opening a hair extension salon legally requires obtaining specific licenses and permits. Check with the U.S. Small Business Administration for federal requirements. The SBA also has a local search tool for state and city permit requirements.

At the state level, a cosmetology facility license allows you to operate a beauty salon. States mandate facilities meet certain health codes, provide licensed services, and safely store chemicals. Application fees are typically $50 to $500 depending on location.

A local business license or occupational tax certificate is mandated to legally operate in the jurisdiction. City or county clerks issue fees starting around $30. Some cities have additional industry-specific licenses for salons that regulate sanitation and bonding.

You may also need a fire inspection and health department inspection to get occupancy approval. Any signage for your salon requires a permit as well.

If hiring employees right away, be sure to register for a Federal Employer Identification Number to handle payroll taxes, unemployment insurance, and workers comp.

8. Get Business Insurance

Carrying proper insurance is crucial to protect your hair extension investment from unpredictable events. The right policies can save your company from financial ruin if you encounter mishaps.

Some common scenarios where a lack of insurance could devastate an extension salon:

  • A stylist improperly secures a client’s extensions, causing hair loss and scalp irritation. The client sues for injury and emotional damages totaling $50,000. Without liability insurance, you’d pay these hefty expenses out of pocket.
  • A plumbing leak overnight floods your salon and ruins $10,000 worth of inventory and equipment. No coverage means eating these replacement costs.
  • A burglar smashes your front window and steals $5,000 of product. Insurance helps recoup theft losses.

To avoid such disasters, partner with an insurance broker to purchase recommended policies:

  • General liability insurance covers 3rd party injury and property damage claims. Up to $2 million in coverage is recommended.
  • Property insurance replaces stolen, damaged inventory and equipment. Get detailed replacement cost coverage.
  • Commercial auto insurance protects company vehicles.
  • Workers comp insurance covers employee injuries. Most states mandate this coverage.

For comprehensive protection, expect to budget $1,000 to $5,000 annually depending on your policies, limits, deductibles, and provider. Insurance gives peace of mind that accidents and unforeseen events won’t dismantle your salon.

9. Create an Office Space

While your salon will be the main hub, securing office space can benefit your hair extension operation in key ways:

  • A private area for bookkeeping, QuickBooks entries, and other admin work. Salon noise and distractions make this challenging.
  • Storage room for excess inventory and supplies, removing clutter from the salon floor.
  • Meeting space for consultations, hiring interviews, and other appointments. This maintains a professional image.

Here are ideal options to consider:

Home Office

A home office allows you to work from the convenience of home. Expect costs of $100 to $500 to set up a basic desk and supplies in a spare bedroom or basement. While affordable, the home environment poses productivity and separation challenges.

Coworking Office

Coworking spaces like WeWork provide an affordable, professional office environment starting around $300/month. Open work areas, private offices, meeting rooms, and networking events are included. However, coming and going can reduce time at your salon.

Retail Office

If opening a retail salon, secure space with a back office/breakroom. This allows for storage and meetings without a separate lease. However, space within salons is often limited. Expect to pay 10% to 30% more in rent.

Commercial Office

Leasing a private commercial office space offers the most professional setting for meetings and solo work. A basic one-room setup rents for approximately $600 to $1500 monthly. The expense may not make sense for new extension salons.

10. Source Your Equipment

A hair extension salon needs quality styling tools and stations to deliver exceptional service. Not to mention several styles of hair extensions and application products.

business plan for hair extensions

From dryers to shampoo chairs, here are the top ways to acquire the necessary equipment:

Buying brand new gives you modern tools in pristine condition. Look to beauty suppliers like Sally Beauty, CosmoProf, and Beauty Systems Group for professional discounts of up to 30% off retail. Online specialty shops like Bangn Beauty also sell salon essentials. Expect to invest $4000-$10,000 in outfitting stations for 2 to 4 stylists.

Gently used equipment through resale saves substantially on costs. Facebook Marketplace and Craigslist frequently list salon chairs, carts, and dryers from stylists upgrading their tools. Expect 50% to 75% off original prices. eBay and OfferUp also connect you to sellers. Inspect secondhand items carefully before purchasing.

Renting equipment avoids major upfront costs while testing different options long-term. Check local classifieds or national rental marketplaces for short-term rentals around $100 to $200 monthly per piece. This helps limit spending as you build your clientele. Just confirm policies for damages.

Leasing through your beauty distributor bundles equipment costs into monthly payments over 3 to 5 years. Zero-down leases start around $150 monthly per styling station. You own the equipment after the term.

11. Establish Your Brand Assets

Creating a strong brand identity is crucial for hair extension salons to stand out. A polished brand conveys quality services and helps attract loyal clients.

Get a Business Phone Line

Start with securing a professional business phone number through a provider like RingCentral . Choose a local area code and dedicated line with call routing features to ensure no missed appointment calls. Expect to invest $25 to $50 monthly.

Design a Logo

Designing a logo and brand assets builds recognition. A creative, meaningful logo like an abstract hair graphic or stylized name reinforces your style and specialty. Use a logo maker like Looka to explore affordable options starting at $20.

Ensure brand colors, fonts, and graphic elements align across assets like business cards, email signatures, and signage. This consistency cements your identity.

Print Business Cards

Business cards from Vistaprint make in-person networking easy. Custom cards with your logo, tagline, and contact info cost roughly $20 for 500. Share these during outreach to gain new extension clients. Signage also announces your presence.

Buy a Domain Name

Buy your custom domain name through a registrar like Namecheap for maximum brand potential. A domain like “LuxeLocksExtensions.com” resonates. Expect annual registration fees of around $15. Choose a domain relating to your name or services.

Build a Website

Building a website establishes an online presence and hub for bookings. Using a user-friendly website builder like Wix , you can create a professional site yourself. Select a template, add hair images, service menus, and online booking, and publish for approximately $20 monthly.

Design a Website

Alternatively, hire a freelancer on Fiverr to custom-design a site for around $500. They handle technical aspects while you provide content. This yields a more strategic, optimized website.

12. Join Associations and Groups

Joining relevant associations and online groups can provide invaluable connections and growth for hair extension salons. Surrounding yourself with others in your industry yields mentorship, referrals, and inside knowledge you won’t find elsewhere.

Local Associations

Search for a local beauty or cosmetology association to join, such as the American Association of Cosmetology Salons or the Professional Beauty Association . Memberships start around $50 annually for access to training, discounts, and networking mixers to meet stylists in your area.

Local Meetups

Regularly attending local trade shows and meetups is also advised. Use Meetup to find fellow beauty professionals in your region. Swap business strategies in person at low or no-cost events. Exchanging cards and social followers drives future referrals.

Facebook Group

Facebook groups connect you with stylish communities, both locally and beyond. Join industry-specific groups like Hair Extension Business Secrets – Marketing & Technique Support Group and Hair Extension Business Owners to access thousands of global peers. Get feedback, share experiences, and more at your fingertips.

13. How to Market a Hair Extension Business

Marketing is crucial for any new hair extension salon to create awareness, attract clients, and grow revenue. With the right promotion, you can establish your salon as a top destination for extensions in your area.

business plan for hair extensions

Start by tapping your network. Reach out to friends, family, and colleagues and ask them to try your services and provide referrals. Offer 10% off or other perks for word-of-mouth marketing. Satisfied clients are powerful brand advocates.

Digital Marketing

For digital marketing, focus on strategies like:

  • Google/Facebook Ads targeted locally to drive website traffic and bookings
  • Search Engine Optimization to rank higher in local salon searches
  • Customer review generation and management on Google, Facebook, Yelp
  • Email marketing with promotions to build your client list
  • Instagram feed showcasing extension styles, specials, before/afters
  • TikTok videos on extension techniques, behind-the-scenes, transitions
  • YouTube tutorials on extension care, styling tips, and client testimonials

Traditional Marketing

Traditional tactics like direct mail, radio, print ads in local magazines, and billboards can also work but may provide a lower return on investment. Consider:

  • Grand opening flyers mailed to households in a 10-mile radius
  • Local radio spot ads on popular stations
  • Ad in city magazine beauty section
  • Eye-catching roadside billboard near your location

While digital marketing tends to be more affordable and measurable, explore your options. Geo-targeted Facebook Ads to nearby followers of hair pages generate conversions under $5 per booking. Match tactics to your goals and continuously test new approaches.

14. Focus on the Customer

Providing exceptional customer service is crucial for hair extension salons to gain loyal, happy clients who refer others. How you treat clients directly impacts your reputation and bottom line. Some ways to enhance customer service when you sell hair extensions include:

  • For example, carefully listening to desired outcomes during consultations and delivering that experience leaves clients satisfied.
  • Sending follow-ups after appointments asking how the extensions are wearing ensures excellent long-term results.
  • Resolving any issues quickly, like adjusting an application that didn’t take properly or replacing damaged extensions, preserves your reputation.
  • Going above and beyond also delights clients.
  • Throwing in free deep conditioning treatments or hair products for regulars shows you value their business.
  • Remembering personal details and preferences tailors the experience.
  • Consistently delivering 5-star service earns rave recommendations across Google, Facebook, Instagram, and more.

The referral business and return visits generated by stellar customer service provide crucial recurring revenue. This steady stream of clients is any salon’s dream. So never neglect the care you provide customers. Your attention and personal touches create a memorable experience that fosters loyalty and growth.

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March 20, 2024

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business plan for hair extensions

Home » Beauty Care

How to Start a Hair Extensions Business [Business Plan]

A hair extension business is a business that is into the production of different designs and types of hair extensions for both aesthetic and medical purposes. Hair extension is synthetic or natural hair attached to the hair on someone’s head to give the appearance of longer hair.

According to the Fortune Business Insights™ report, the United States hair extension market size was valued at USD 1.72 billion in 2020 and is anticipated to grow from USD 1.92 billion in 2023 to USD 3.44 billion by 2028, at a CAGR of 8.71% during the 2022-2028 period.

Steps on How to Start a Hair Extensions Business

Conduct market research.

The first step in the market research process for your hair extension business is to develop market-based research questions in line with your overall business goal and objective. Please note that market research helps businesses measure their brand reputation in the market over some time.

It is a great way to measure progress for your business as well as compare your status to your competitors to see where you are trailing or where you have an advantage.

a. Who is the Target Market for Hair Extensions Business?

  • Hair salons

b. Is Hair Extensions Business a Profitable Business?

Yes, the hair extensions business is profitable and this can be supported by the fact that the industry is anticipated to grow from USD 1.92 billion in 2023 to USD 3.44 billion by 2028, at a CAGR of 8.71 percent from the 2022 to 2028 period.

c. Are There Existing Niches in the Industry?

No, there is no niche idea when it comes to the hair extension business.

d. Who are the Major Competitors?

  • Scru Babe Hair Extensions
  • Cinderella Hair Extensions
  • Hotheads Hair Extensions
  • Great Lengths Hair Extensions
  • Donna Bella Hair Extensions
  • Klix Hair Extensions
  • Halo Hair Extensions
  • Heat Free Hair Extensions
  • Galaxy 5000
  • Boho Exotic Studio
  • Indique Hair Extensions
  • The SACH & VOGUE Hair Extensions
  • The Weave Shop

e. Are There County or State Regulations or Zoning Laws for Hair Extensions Business

Yes, there are county or state regulations and zoning laws for the hair extension business, and players in this industry are expected to work with the existing regulations governing such businesses in the county or state where their business is domiciled.

f. Is There a Franchise for Hair Extensions Business?

Yes, there are franchise opportunities for the hair extensions business, and here are some of them;

  • The SACH & VOGUE Hair Extensions Franchise
  • The Weave Shop Franchise
  • SW Hair Franchisees

g. What Do You Need to Start a Hair Extensions Business?

  • A Feasibility Report
  • Business and Marketing Plans
  • Business Licenses and Permits
  • A Good Production facility
  • Computers, Laptops, and Servers
  • EIN (Employer Identification Number)/Federal Tax ID Number.
  • A Corporate Bank Account
  • Sewing Machines, Equipment, and Tools
  • Startup Capital

Choose a Memorable Business Name ideas for Hair Extensions Business

When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.

Some of the catchy business name ideas suitable for a hair extension business are;

Creative Hair Extensions Business Name ideas

  • One Beauty© Hair Extensions, Inc.
  • MT Connect® Hair Extensions Company, LLC
  • Lilly Brownie © Hair Extensions Company, Inc.
  • Hair Solutions® Hair Extensions Company, Inc.
  • Serena Outlook™ Hair Extensions Company, Inc.
  • Judi Couture™ Hair Extensions Company, LLC.
  • Sonia Kent© Hair Extensions Company, LLC
  • Shane Given® Hair Extensions Company, Inc.
  • Hair Pros© Hair Extensions Company, Inc.
  • Rachael Morgan© Hair Extensions Company, Inc.
  • Mili Cent® Hair Extensions Company, Inc.
  • Clarine® Hair Extensions Company, LLC
  • Stretch Prop® Hair Extensions Company, Inc.
  • The Hair Group Corporation, Inc.
  • Stacy Marion® Hair Extensions Company, LLC.
  • Sol Shannon® Hair Extensions Company, Inc.
  • Denver Porto® Hair Extensions Company, LLC
  • Rohila Braithwaite® Hair Extensions Company, LLC
  • Starlings® Hair Extensions Company, LLC
  • Noeline Justine® Hair Extensions Company, LLC.

Register Your Business

A. what type of business structure is best for hair extensions business.

Even though there are several options when it comes to the business structure for a hair extensions business, the one that most players in this line of business consider is an LLC. It is common to consider an LLC because providers want to protect themselves from lawsuits.

Please note that an LLC will need an EIN if it has employees or if it will be required to file any of the excise tax forms listed below.

b. Steps to Form an LLC

  • Choose a Name for Your LLC.
  • File Articles of Organization.
  • Choose a registered agent.
  • Decide on member vs. manager management.
  • Create an LLC operating agreement.
  • Comply with other tax and regulatory requirements.
  • File annual reports.

c. What Type of License is Needed to Open a Hair Extensions Business?

  • General Business License
  • Fire, Health, and Safety Permit
  • Zonal Permits (Applicable in some cities)
  • Signage Permit
  • Operational State Facility Inspections

d. What Type of Certification is Needed to Open a Hair Extensions Business?

You don’t need any special certification to go into the production of hair extensions.

e. What Documents are Needed to Open a Hair Extensions Business?

  • Business and liability insurance
  • Federal Tax Payer’s ID
  • State Permit and Building Approval
  • Certificate of Incorporation
  • Business License
  • Business Plan
  • Employment Agreement (offer letters)
  • Operating Agreement for LLCs
  • Insurance Policy
  • Online Terms of Use
  • Online Privacy Policy Document
  • Contract Document
  • Company Bylaws
  • Memorandum of Understanding (MoU)

f. Do You Need a Trademark, Copyright, or Patent?

If you are considering starting a hair extensions business, you may need to file for intellectual property protection or trademark. This is so because the nature of the business makes it possible for someone to infringe on your work or copy your designs.

Cost Analysis and Budgeting

A. how much does it cost to start a hair extensions business.

When it comes to starting a hair extensions business, the startup costs could range from $50,000 to over $250,000 depending on how much equipment the business owner decides to purchase and the production facility and space leased. Please note that this amount includes the salaries of all the staff for the first month of operation.

b. What are the Cost Involved in Starting a Hair Extensions Business?

  • The total fee for registering a business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines, and other software) – $3,300.
  • Marketing expenses for $3,500, as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The cost for hiring a business consultant – $2,500.
  • Insurance (general liability, workers’ compensation, and property-casualty) coverage at a total premium – $2,400.
  • The cost for payment of rent for 12 months at $1.76 per square foot in the total amount of $105,600.
  • The cost for facility remodeling and equipping – is $50,000.
  • Other start-up expenses like phone and utility deposits ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
  • The cost for start-up inventory – $120,000
  • The cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • The cost of purchase and installation of CCTVs: $3,000
  • The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): is $4,000.
  • The cost of launching a website: $600
  • The cost for our opening party: $3,000
  • Miscellaneous: $5,000

c. What Factors Determine the Cost of Opening a Hair Extensions Business?

  • The size of hair extensions business
  • The choice of location
  • The required licenses and permits
  • The type of facility
  • The cost of hiring and paying a business consultant and attorney
  • The cost of branding, promotion, and marketing of the hair extension brand
  • The cost of furnishing and equipping the production facility
  • The cost of insurance
  • The cost of registering the business
  • Source of your supplies and ongoing expenses
  • Cost of recruiting and training your staff
  • The cost for the purchase and customizing of uniforms
  • The cost of the grand opening of the facility.

d. Do You Need to Build a Facility? If YES, How Much Will It Cost?

It is not compulsory to build a new facility for your hair extension business, but if you have the required finance, it will pay you to build your own facility. The truth is that building or reconstructing a facility will help you come up with a facility that will perfectly fit into your overall business goals and vision.

e. What are the Ongoing Expenses of a Hair Extensions Production Business?

  • Rent and lease
  • Supplies and inventory
  • Utility bills (internet subscriptions, phone bills, signage, and software renewal fees et al)
  • Maintenance of machines
  • Salaries of employees

f. What is the Average Salary of your Staff?

  • Chief Executive Officer (President) – $40,000 Per Year
  • Factory Manager – $30,000 Per Year
  • Merchandise Manager – $29,630,000 Per Year
  • Hair Extension Designers – $29,000 Per Year
  • Accountant (Cashier) – $28,500 Per Year
  • Marketing and Sales Executives – $28,000 Per Year
  • Factory Workers – $26,100 Per Year
  • Customer Service Executive – $26,000 Per Year
  • Security Guard -$24,000 Per Year

g. How Do You Get Funding to Start a Hair Extensions Production Business?

  • Raising money from personal savings and sale of personal stocks and properties
  • Raising money from investors and business partners
  • Sell shares to interested investors
  • Applying for a loan from your bank/banks
  • Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
  • Source for soft loans from your family members and friends.

Write a Business Plan

A. executive summary.

Rohila Braithwaite® Hair Extensions Company, LLC is a registered and standard hair extensions production business that will be located in an industrial area in Fort Wayne, Indiana. We have been able to secure a long-term lease agreement for a facility in a strategic location with an option of renewal on terms and conditions that are favorable to us.

The facility has government approval for the kind of business we want to run and it is easily accessible. We are deliberate about that to facilitate easy movement of raw materials and finished products.

b. Products and Service

  • Hairpieces and hair extensions for both aesthetic and medical purposes.

c. Mission Statement

Our mission is to build a highly successful hair extension production business whose brand will be known all around key cities in the United States of America and around the globe.

Vision Statement

Our vision is to be among the top 3 hair extension production companies in the world.

d. Goals and Objectives

The goals and objectives of a hair extensions production business are to produce hairpieces and hair extensions for both aesthetic and medical purposes.

e. Organizational Structure

  • Chief Executive Officer (President)
  • Factory Manager
  • Merchandise Manager
  • Hair Extension Designers
  • Accountant (Cashier)
  • Marketing and Sales Executives
  • Factor Workers
  • Customer Services Executives
  • Security Guard

Marketing Plan

A. swot analysis.

  • Ideal location for a hair extensions production business
  • Highly experienced and qualified employees and management
  • Access to finance from business partners
  • Excellent customer testimonials.
  • Unique design and styles
  • Financial constraints
  • A new business that will be competing with well-established hair extensions brands.
  • Inability to retain our highly experienced and qualified employees longer than we want

Opportunities

  • A rise in the demand for hairpieces and hair extensions for both aesthetic and medical purposes
  • Online market, new services, new technology, and of course the opening of new markets
  • Increase the number of hair salons within our target market area.
  • The arrival of new hair extensions production business within our market space
  • Unfavorable government policy and regulations.
  • Economic uncertainty
  • Liability problems

b. How Do Hair Extensions Production Businesses Make Money?

Hair extension production businesses make money by selling a wide range of hairpieces and hair extensions for both aesthetic and medical purposes.

c. Payment Options

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

d. Sales & Advertising Strategies

  • Place adverts on both print (newspapers and lifestyle magazines) and electronic media platforms
  • Sponsor relevant community-based events/programs
  • Leverage the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote your products
  • Install your Bill Boards in strategic locations all around your city or state
  • Engage in roadshow from time to time in targeted neighborhoods to create awareness of your hair extensions production business
  • Distribute your fliers and handbills in target areas
  • List your hair extensions production business in local directories/yellow pages
  • Advertise your hair extensions production business on your official website and employ strategies that will help you pull traffic to the site.
  • Position your Flexi Banners at strategic positions in the location where your hair extensions production business is located.
  • Ensure that all your staff members wear your branded shirts and all your vehicles and trucks/vans are well branded with your company logo et al.

Financial Projection

A. how much should you charge for your product/service.

The average cost of good non-permanent hair extensions is between $200 and $500. Such as halos or clip-ins. Professional permanent extensions usually range between $600 and $3000.

b. How Much Profit Do Hair Extensions Production Businesses Make a Year?

It depends, but available reports show that hair extension production business owners earn approximately $59,000 per year. Business profits can average between $54,750 to $109,500 in gross, depending on your location, line specifics, expenses, marketing efforts, and company size.

c. What Factors Determine the Amount of Profit to Be Made?

  • The capacity of the hair extensions production business
  • The location of the hair extensions production business
  • The management style of the hair extensions production business
  • The business approach of the hair extensions production business
  • The advertising and marketing strategies adopted by the business
  • The number of years the hair extensions production business is in business

d. What is the Profit Margin of a Hair Extensions Production Business?

Typically, hair extension production businesses gain a handful of profit on all their products. Margins usually range from 20% to around 40-50%. So, the revenue you would be making will be based on sales made by you monthly and the expenses that you incur while running the business.

e. What is the Sales Forecast?

  • First Fiscal Year (FY1): $340,000
  • Second Fiscal Year (FY2): $550,000
  • Third Fiscal Year (FY3): $880,000

Set Up your Shop/Office

A. how do you choose a perfect location for hair extension production business.

  • The demography of the location
  • The demand for hair extensions in the location
  • The purchasing power of businesses and residents of the location
  • Accessibility of the location
  • The number of hair extensions production businesses in the location
  • The local laws and regulations in the community/state
  • Traffic, parking and security et al

b. What State and City are Best to Open a Hair Extensions Production Business?

  • Rowland Heights, California
  • Portland, Oregon
  • New York City, New York
  • Las Vegas, Nevada
  • Wintergreen, Virginia
  • Chicago, Illinois
  • Boston, Massachusetts
  • Silver Spring, Maryland
  • Atlanta, Georgia
  • Houston, Texas

c. What Equipment is Needed to Operate a Hair Extension Production Business?

These are some of the machines, equipment, and tools we would need to start our hair extension production business;

  • Industrial sewing machines
  • Measuring tapes
  • Sewing machine needles
  • Hand sewing needles.
  • Draping tools.
  • Hair extension-making Stickpins
  • Style tapes
  • Labels and Tags.
  • Packaging materials

Hire Employees

When it comes to hiring employees for a standard hair extensions production business, you should make plans to hire a competent chief executive officer (president), factory manager, merchandise manager, accountant (cashier), marketing and sales executives, factory workers, customer care executives and security guard.

Launch the Business Proper

In recent times, no hair extensions production business opens its door for business without first organizing an opening party to officially launch the business. You can choose to do a soft opening party if you are operating on a low budget or you can go for a grand opening party.

The bottom line is that with a proper launching of the hair extensions production business, you will officially inform people in your city that your hair extensions production business is open for business.

a. What Makes a Hair Extensions Production Business Successful?

  • Choose a good location and showroom facility to launch the business
  • Make sure your hair extensions are unique, durable and the finishing is topnotch
  • Be deliberate with your marketing sales approach
  • Encourage the use of word of mouth to promote your hair extensions production business
  • Leverage all available online and offline platforms to promote your hair extensions production business

b. What Happens During a Typical Day at a Hair Extensions Production Business?

  • The production factory is open for the day’s work
  • The facility is cleaned and well-arranged
  • Factory swings into action (production of hair extensions)
  • Deliveries of orders are made
  • Stocks are taken and reports are written and submitted to superior officers
  • The business is closed for the day.

c. What Skills and Experience Do You Need to Build a Hair Extensions Production Business?

  • Excellent customer services skills
  • Interpersonal skill
  • Accounting and bookkeeping skills
  • Business management skills
  • Bargaining and bidding skills
  • Work experience in a hair extensions production business
  • Experience in managing people
  • Experience in business administration.

More on Beauty Care

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How To Start A Hair Extension Business

  • Last Updated: April 5, 2024
  • By: Greg Bouhl

Advertising Disclosure

business plan for hair extensions

Can you tell Remy hair from human hair? Do you know the difference between a single and a double-drawn strand and have expertise with clip-ins, sew-ins, hair weave, beaded rows, and tape-ins? Are you looking for an opportunity to be your own boss? If you answered yes to most of these questions, then developing your own hair extension business is undoubtedly an inspiring option.  

Hair extensions have been super popular for some time now, and knowing how to put in extensions is just one part of the puzzle. You also need to know how to run the business side of things. That’s where this guide comes in. Here, we’ll walk you through what you need to know to launch a successful hair extension business.

Business Description

A hair extension salon provides services that add length, volume, highlights, or different textures to a client’s natural hair using natural or synthetic hair extensions. A hair extension business involves selling various types of hair extensions, from clip-ins to sew-ins, tapes, micro-links, and more.

As a business owner, you need to identify reliable suppliers for high-quality products, create an attractive storefront—be it physical or online—and develop effective marketing strategies. Furthermore, offering additional services such as fitting, maintenance and custom wig creation can set you apart from the competition.

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Hair Extension Industry

The hair extension industry has exploded in recent years, driven by popularity among celebrities and influencers. Social media has also helped fuel interest in hair extensions as a way to transform looks. Revenue for the global hair extension services industry reached $4.06 billion and is expected to reach $7.9 billion by 2030.  

The primary target market for hair extensions is people between 20 and 65 interested in hair extensions as a fashion accessory or to enhance their looks. In fact, 34% of women claim they regularly use hair extensions as part of their beauty regime . 

Some of the most prominent players in the US hair extension market are So.Cap. USA and Mayvenn Inc. US Private label companies of note are Perfect Locks LLC and Private Label Extensions .

One of the significant trends in the hair extension industry is the rising preference for natural, ethically sourced products. Consumers are increasingly conscious of the origins of their hair extensions, pushing businesses to ensure transparency in their supply chain. Additionally, the convenience of e-commerce has made it easier for businesses to reach a broader customer base, making online marketing and sales a crucial aspect of the business model. Customization is another trend gaining traction, with customers seeking personalized solutions to match their style, hair type, and color.

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Steps To Start A Hair Extension Business

With so many important factors to consider and regulations to understand, starting a hair extension company can be overwhelming. To help make the process as seamless as possible, I’ve created this checklist to give you the steps on how to start your business right.

Step 1:  Research the Market

You’ve got the vision and the skills to start a hair extension business, but there’s a crucial first step you shouldn’t skip: finding out if people actually want what you’re planning to offer. Market research is the cornerstone of any successful business plan. It provides critical data about your potential customers, their preferences, buying habits, and the competition. Also, by understanding these factors, you can better tailor your products and services, resulting in a successful hair extension business.

No matter how good your idea is, without this information, you risk entering a market that’s already saturated, or worse, where there’s little to no demand for what you’re offering. Let’s go over some of the essential steps for researching your market when starting a hair extension business.

Determine your target customer: Before you launch your hair extension business, you must identify your target customer. Who are your products for? What’s their age range, interests, and income level? By understanding your demographic, you can tailor your marketing efforts and product offerings to meet their specific needs. One way to determine your ideal customer is by conducting surveys, focus groups, and online research. Social media platforms such as Instagram and Facebook can provide insightful information on your niche market.

Analyze your competitors: Another important step in researching your market is analyzing your competitors. Identify other businesses that sell similar products and services and research their strategies, pricing, and branding. Make a list of their strengths and weaknesses, as this will help you identify opportunities for your business. Use this data to determine what sets your brand apart from others in the industry.

Use industry data and trends: Gather industry data and research trends to stay up-to-date on the latest developments in your market. Sign up for newsletters, subscribe to trade publications, and attend industry events. This will give you valuable insights into what’s trending and what’s not. Understanding the broader industry landscape will help you stay ahead of trends and provide products that appeal to your target audience.

Conduct a SWOT analysis: Complete a SWOT analysis (Strengths, Weaknesses, Opportunities & Threats) by examining your business’s strengths, weaknesses, opportunities, and threats. Utilize this information to strategize how to leverage your strengths, enhance your weaknesses, and capitalize on opportunities while mitigating threats. This analysis can provide valuable insights on how to differentiate your brand and develop a unique value proposition that resonates with customers.

Step 2:  Write a Business Plan

Once you’ve researched the market and found that people are interested in your hair extension business, it’s time to write a business plan. While not required, writing a business plan is important in launching a successful hair extension business. The plan lays out the route for your business journey, helping you avoid bumps and detours, in addition to being an important document requested by loans and investors when evaluating a project for funding.

When writing a hair extension business plan, here are a few sections that I would recommend focusing on:

Market Analysis

In this section, you don’t just want to talk about how big the market is; you need to show why your business will succeed in that market. Maybe you offer something unique or have found an untapped niche. Whatever your edge may be, this section highlights it as lenders want to know that you’re not just jumping in blindly.

Management Team

Here’s where you introduce the people running the show, usually, that’s you and any key staff. Lenders care about this because they know that a business usually sinks or swims based on its leaders. Show that you and your team have the skills, experience, or at least the hustle to make this work. A strong team can be a solid indicator that the business has a better chance of success.

Whether you’re setting up a physical store or an online business, the location matters. For a physical store, discuss the proposed location and why it’s ideal for your business, considering factors like foot traffic, proximity to target customers, and competition. If you’re online, explain your strategies for reaching your target audience and standing out in the crowded digital space.

Financial Projections

Banks and other lenders will zero in on this part. They want to see that you’ve thought out how much money you’ll make and spend. Most importantly, they want to see that you’ll make more than you spend so you can pay back the loan. You’ll need to be ready to explain how you arrived at those numbers.

Before you take your business plan to a lender, have someone else take a look, like a business owner or an accountant. They can provide fresh eyes and might catch something you missed. It’s always better to find any issues before you’re sitting across from a loan officer.

Related:  How to write a business plan

Step 3:  Source Funding

Okay, you’ve done your homework. You know there’s a market for your hair extension business, and you’ve got a solid business plan. What’s next? You need money to bring this dream to life.

Since funding can be delayed and even denied, before you start ordering supplies or signing leases, you have to make sure the funds are there. Let’s dive into some common funding options for a hair extension business.

Personal savings: The first place many people need to look for startup money is their own bank account. Personal savings can be the quickest and simplest way to fund your business. However, if your savings aren’t enough to cover the costs, you’ll need to look elsewhere.

Bank loans: A common way to secure additional funding is through a bank loan. Banks typically require borrowers to invest 15% to 25% of their personal funds towards the total project cost. They also look at factors such as credit scores and collateral. If a bank considers your loan too risky, they might opt for an SBA (Small Business Administration) loan guarantee, which provides them with a safety net.

Friends and family: Another common funding source is turning to your social circle. If you go this route, make sure to put everything in writing, even if it feels weird. Relationships can get messy when money’s involved, and a written agreement keeps everyone on the same page.

Microloans: If you find you can’t get a traditional loan or don’t need a lot of money, microloans could be your answer. Some organizations offer small loans designed for startups and often provide training to help you succeed. This can be an excellent way to get both the money and the knowledge you need to hit the ground running.

Related:  Finding the money to start a business

Step 4:  Acquire & Set Up Your Store

With the funding secured and your business registered, the next step is setting up your location. This is where the planning starts to feel real, where your dream begins to take physical shape.

When choosing your property, make sure it’s in line with the target market you’ve outlined in your business plan. Are you catering to a high-end clientele? Look for a place in an upscale neighborhood. Targeting young adults? Maybe a spot near a college campus is right for you. But before you sign anything, make sure your funding is secure. Also, double-check the zoning laws to make sure you can operate a hair extension business in that location.

Once you’ve nailed down your location, it’s time to fill it with the stuff you need: chairs, mirrors, display shelves, and so on. Consider sketching out your floor plan to confirm that everything fits and is easy for staff and customers to move through.

Step 5:  Register the Business

The next step is to take care of any paperwork to get the business legal to operate.

Choosing the right structure for your business is the first task, as it impacts things like taxes, ownership, and personal liability. The four primary types of business structures include sole proprietorship, general partnership, corporation, and Limited Liability Company (LLC).

  • Sole proprietorship: This is the simplest form of business structure, with low startup costs and ease of management. However, it provides no separation between personal and business liabilities.
  • General partnership: This structure is similar to a sole proprietorship but involves two or more people. Each partner shares in the profits, losses, and liabilities of the business.
  • Corporation: A corporation is a separate legal entity from its owners, providing them with personal liability protection. However, it involves more paperwork and higher setup costs.
  • Limited Liability Company (LLC): An LLC combines aspects of sole proprietorships/partnerships and corporations. It provides personal liability protection of the corporation but is easier to administer.

Related: Comparison of business structures

Forming an LLC sounds complicated and expensive, but using an entity formation service guides you through the process so you know it was done right.

Some popular LLC formation services include:

IncFile  - $0 plus state fees & free registered agent for 1 year!

ZenBusiness  - Best for beginners. $0 plus state fees & free registered agent for 1 year!

Northwest  - Best privacy protection. $39 plus state fees & free registered agent for 1 year!

Business name registration: After registering the business structure, you may need to register your business name. This process will vary depending on what business structure you pick. Sole proprietors and partnerships will often be required to register a “Doing Business As” (DBA), while corporations and LLCs register with the state during the formation process.

During this time, it’s also a good idea to check if the name you want is available as a web domain, even if you’re not ready to set up a website yet.

Related: Finding a domain name for your business

Obtain business licenses and permits: Hair extension licensing requirements differ depending on your location and the services you will offer, which can make getting started confusing. Some states, like California, don’t require licensing to sell hair extensions, while others require a cosmetology license to install hair extensions.

In addition to hair extension-specific licensing, some general business registrations will be needed. and vary depending on the state. These typically include a business license, sales tax permit, retail certificate of occupancy, and Employer Identification Number.

Related:  Common business licenses, permits, and registrations by state

Step 6:  Source Suppliers

Opening a hair extension business requires having quality products for customers to purchase. Finding reliable vendors for which you can purchase inventory in bulk will take some time, and they will usually require proof that your business is in the process of opening before they provide wholesale pricing information.

Initially, the cost to stock inventory in a new store is quite an investment, so dig into what your customers will want so your shelves have what they want to buy.

If you aren’t sure about what suppliers to go with, trade shows are a great way to start your research. You get to see products firsthand and start immediate conversations with potential suppliers. These events are worth the investment of your time and money. Also, don’t underestimate the power of a good recommendation. Talk with other hair extension businesses (not competitors, of course) or join online forums or social media groups focusing on the hair industry.

Step 7: Hire Staff

Some hair extension businesses are solely owner-operated, and others will hire employees. There are several federal and state rules that employers need to follow. Here is a brief overview.

Obtaining an EIN: An Employer Identification Number (EIN) is a unique number assigned by the IRS to businesses for tax purposes. You’ll need this number before hiring your first employee.

Employment eligibility: Under federal law, every employee must be eligible to work in the United States. You’ll need to verify this eligibility using Form I-9.

State reporting: Each state has different reporting requirements for new hires. Generally, you’ll need to provide information about each new employee to your state’s directory within a certain period after hiring.

Worker’s compensation: Most states require businesses to carry workers’ compensation insurance, which provides benefits to employees who become injured or ill while on the job.

Labor laws: You’ll also need to comply with federal and state labor laws, including minimum wage, overtime pay, and workplace safety regulations.

Related: Guide to hiring an employee in each state

Step 8:  Create a Marketing Strategy

With the business close to opening, it’s time to nail down the marketing strategy so customers will learn about your new business.

Whether selling online or locally, a successful online presence is important. Social media platforms like Instagram and Pinterest are great for this type of business, allowing you to showcase your products and customer transformations visually. Collaborate with influencers who align with your brand to reach a broader audience. Another popular tactic is content marketing through blogs or YouTube tutorials that provide value by answering customer questions about hair extensions, such as care tips or style ideas.

Collaborating with influencers is another powerful tactic. Influencers can showcase your hair extensions to their followers, which can significantly boost your brand’s visibility and credibility.

Creating YouTube tutorials showing how to use your hair extensions can be a great way to engage your audience and highlight your products’ quality and ease of use.

Additionally, if selling at retail, look into creating in-store promotions such as discounts or complimentary samples to bring customers in the door and try the products.

Related:  Low-cost ideas to market a new business

Step 9:  Prepare to Open!

Starting a hair extension business involves multiple steps, and even after securing funding, finding suppliers, and setting up your location, there’s still work to be done. Every business will have different needs, but here are some key areas you may want to focus on:

Business insurance: Getting the right insurance is a must. Options include liability insurance and property insurance. This protects you against losses from events like theft, fire, or lawsuits.

Related: What types of insurance do hair extension businesses need ?

Setting up bookkeeping: Accurate record-keeping is essential. You can use software like Wave Accounting (FREE) or Quickbooks , or hire a part-time accountant to keep your financials in order.

Opening a business bank account: A separate business bank account is essential for keeping your personal and business finances separate, which can simplify bookkeeping and tax preparation.

Management software: You might consider using industry-specific software like Rosy , DaySmart , or Booker for credit card processing, bookings, and inventory tracking. Another option is Square for Retail , which also offers point-of-sale features.

Setting pricing: Deciding on your pricing strategy is key. You have to consider both the cost of goods and your overheads while making sure the price is something your target market is willing to pay. Don’t forget to factor in labor and material costs accurately when pricing services. Underpricing will lose money.

Joining industry associations: Membership in associations like the Professional Beauty Association , American Hair Loss Council , or the National Hair Society can offer networking opportunities, education, and even discounts on products and services.

Preparing for the grand opening: From decorations to promotions, your grand opening is an opportunity to introduce your brand to the world. Consider specials, giveaways, or partnerships with local businesses to draw a crowd.

Greg's Business Tip

Common Questions When Starting a Hair Extension Business

How much does it cost to start a hair extension business.

Starting a hair extension business can set you back anywhere from $10,000 to $50,000, depending on various factors like location, scale, and inventory. This is a ballpark figure, but let’s break down the major costs to give you a clearer picture.

Location: The first deposit for leasing a retail space can vary widely based on location and size. In a busy city, expect to pay at least $2,000 to $5,000 for the initial deposit. In addition to any deposits, budget for any buildout or remodeling costs.

Inventory: Hair extensions themselves can be costly. To stock a moderate range, you could be looking at an initial outlay of around $5,000 to $15,000.

Equipment and supplies: Think chairs, mirrors, washing stations, and so on. This could cost you around $3,000 to $5,000 to start.

Business licenses and permits: Getting the right licenses can also cost money. Fees can range from $100 to $400, depending on your state and local requirements.

Insurance: For the initial set-up, liability and property insurance could cost around $1,000 to $2,000.

Marketing: Launching your business with some buzz is essential. Initial marketing costs, including a basic website and some local advertising, might be around $1,000 to $2,000.

Miscellaneous costs: These are the unpredictable or smaller costs that add up, such as utility setup fees, initial phone and internet charges, and business cards. Budget at least $500 for these.

Is it profitable to sell hair extensions?

While it’s challenging to pinpoint an exact profit, industry data suggests that hair extension businesses can typically achieve a profit margin of around 50% to 80%.

For example, consider a hair extension business that generates $100,000 in annual revenue. The average cost of hair extensions is between $200 and $500, so using an average of $350, meaning you would need fewer than 30 customers per month, which is pretty reasonable for a hair extension business in it’s first year.

If the cost of goods sold (COGS), which includes the cost of hair extensions and other direct costs associated with the products, is $40,000, the gross profit would be $60,000 ($100,000 – $40,000). This represents a gross profit margin of 60%, which falls within the industry standard.

However, this is not the net profit. From the gross profit, you must subtract all other operating expenses, such as rent, utilities, salaries, marketing, and insurance. Suppose these expenses total $30,000. In that case, the net profit would be $30,000 ($60,000 – $30,000), representing a net profit margin of 30%.

These figures are hypothetical, and actual results will vary based on numerous factors, including the specific location and size of your business, your chosen marketing strategies, and more. Therefore, conducting thorough research and considering all potential costs when planning your budget is essential.

What skills are needed to run a hair extension business?

Running a hair extension business requires a unique blend of technical skills, business acumen, and interpersonal abilities. Here are some key skills one should have to be successful in this industry:

Professional know-how: Even if you decide to distribute hair extensions solely, ensure you stay current with industry trends and innovations. Understand what the market is doing, what novelty items are being introduced, and what manufacturers can supply your products.  

If you offer all hair extension services, we highly recommend you learn the trade through a mentor, apprenticeship, or accredited program.

Technical skills: Expertise in applying and maintaining hair extensions is crucial. This includes understanding different types of hair extensions, application methods, and care techniques. Many professionals recommend completing a hair extension training course to acquire these skills.

Customer service and interpersonal skills: This is a vital skill and one you need to enjoy. Especially if you offer hair extension services, you will be helping your customers achieve their desired appearance. Empathy and care are essential traits when assisting clients suffering from hair loss. The ability to advise clients professionally on style, fashion, and hair extension options is equally essential.  

And don’t forget to maintain a solid relationship with your suppliers, hair stylists, and beauticians.

Excellent marketing skills . How will your target market find you – how will you grow your customer base? We recommend investing in good imagery and developing a consistent, authentic comms and marketing strategy and branding that speaks to your target market. Consider getting influencers to wear your gear and promote it to their followers.  

In addition, an outstanding customer experience will ensure repeat business and help expand your brand through word of mouth. 

Greg Bouhl

With over two decades as an entrepreneur, educator, and business advisor, Greg Bouhl has worked with over 2,000 entrepreneurs to help them start and grow their businesses. Fed up with clients finding and acting on inaccurate and outdated information online, Greg launched StartUp101.com to be a trusted resource for people starting a business.

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ProfitableVenture

Hair Extension Selling Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Beauty Care Industry » Selling Hair Extensions

There are businesses that someone with little education and no serious business background and training can start. One of such businesses is to open a hair extension retail store . The major things you need to succeed in this business is a good location, easy access to wholesale supply of quality hair extensions and good customer service skills.

The truth is that if your store is located in an area with good human and vehicular traffic, and you have quality hair extensions, wigs and related products from different brands, you may not have to struggle to get people to visit your store and make purchase. Below is a sample hair extension retail store business plan template that can help you to successfully write your own.

A Sample Hair Extensions Retail Store Business Plan Template

1. industry overview.

Hair extension retail stores are part of the Wig and Hairpiece Stores industry and players includes stores that mainly specialize in selling wigs, hairpieces and hair extensions for both aesthetic and medical purposes. Please note that this industry does not include retailers that primarily provide wigs and hairpieces via electronic mediums.

The Wig and Hairpiece Stores industry, just like most businesses in the retailing industry, depends on strong consumer spending to spur the demand for industry products.

Over the last half decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing. Going forward, as the economy of the united states continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to thrive.

The Wig and Hairpiece Stores industry is indeed a major sector of the economy of the United States of America and they generate over $224 million annually from more than 696 wigs and hair extension retail outlets scattered all around the United States of America.

The industry is responsible for the employment over 1,997 people. Experts project that the industry will grow at a 4.0 percent annual rate. No player can boast of having a lion share of the available market in this industry.

A close study of the Wig and Hairpiece stores industry shows that the industry has low and steady barriers to entry. For instance, the capital requirements to open a store location are relatively low and primarily consist of leasing a commercial property and purchasing initial inventory.

Increased vacancies and lower leasing rates as a result of the recession have improved new entrants’ ability to find low-cost property in attractive locations over the past five years. However, high competition may deter potential new entrants.

It is important to note that the cost of purchasing initial inventory can vary considerably and is dependent upon hair extension retailers’ ability to work with manufacturers and suppliers. As a new market entrant in the industry, you have to establish relationships with suppliers and build a clientele base, which can act as a barrier to entry.

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from the general retail industry of which the hair extension retail stores industry contributes greatly.

This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S. In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing industry negatively which may result in the closure of some retail stores.

Over and above, the wig and hair extension retail store industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner or you can chose to start on a large scale with several outlets in key cities through the United States of America.

2. Executive Summary

Sharon & Anita Hair Extension Store®, Inc. is a registered hair extension retail store business that will be located in one of the busiest streets in Charleston – West Virginia.

We have been able to lease a facility that is big enough (a 5 thousand square foot facility) to fit into the design of the kind of hair extension retail store that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Charleston – West Virginia.

Sharon & Anita Hair Extension Store®, Inc. will retail synthetic hair wigs, human hair wigs, synthetic hairpieces, human hairpieces and toupees et al from different manufacturers from the United States and abroad. We are set to service a wide range of clientele in and around Charleston – West Virginia.

We are aware that there are several hair extension retail outlets all around Charleston – West Virginia, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to favorably compete with all our competitors. We have an online – service option for our customers, and our outlet has various payments of options.

Sharon & Anita Hair Extension Store®, Inc. will ensure that all our customers are given first class treatment whenever they visit our hair extension retail store. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to.

We will ensure that we get our customers involved in the selection of brands that will be on our racks and also when making some business decisions.

Sharon & Anita Hair Extension Store®, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. Sharon & Anita Hair Extension Store®, Inc. is a family business that is owned by Sharon Williams and her immediate family members.

Sharon Williams has a B.Sc. in Business Administration, with over 5 years’ experience in the retailing industry, working for some of the leading brand in the United States. Although the business is launching out with just one outlet in Charleston – West Virginia, but there is a plan to open other outlets all around major cities in the United States.

3. Our Products and Services

Sharon & Anita Hair Extension Store®, Inc. is in the wigs and hair extension retail industry to service a wide range of clients and of course to make profits, which is why we will go all the way to make available a wide range of hair extensions from top manufacturing brands in the United States and other countries of the world.

We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;

  • Retailing synthetic hair wigs
  • Retailing human hair wigs
  • Retailing synthetic hairpieces
  • Retailing human hairpieces
  • Retailing toupees

4. Our Mission & Vision Statement

Our vision is to become one of the leading brands in the wig and hair extension retail stores industry in West Virginia and to establish a one stop hair extension retail store in Charleston – West Virginia and in other key cities in the United States of America and Canada.

Our mission is to establish a world – class hair extension retail business that will make available a wide range of hair extension products from top hair extension manufacturing brands at affordable prices to residents of Charleston – West Virginia and other key cities in the United States of America where we intend opening of chains of hair extension retail stores and franchise.

Our Business Structure

Our intention of starting a hair extension retail store business is to build a standard and one stop hair extension retail store outlet in Charleston – West Virginia.

Although our hair extension retail store business might not be as big as multi – million dollars hair extension stores, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stake holders. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer (Owner)
  • Store Manager
  • Human Resources and Admin Manager
  • Merchandise Manager

Sales and Marketing Manager

Information Technologist

  • Accountants/Cashiers
  • Sales Agents/Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization.
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and interviewing process
  • Carries out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office activities.

Store Manager:

  • Responsible for managing the daily activities in the store
  • Ensures that proper records of wigs and hair extensions are kept and warehouse does not run out of products
  • Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
  • Interfaces with third – party suppliers (vendors)
  • Controls hair extension distribution and supply inventory
  • Supervises the workforce in the sales floor.

Merchandize Manager

  • Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
  • Helps to ensure high quality hair extensions from different manufacturers are purchased and retailed in good price that will ensure profit
  • Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
  • Ensures that the organization operates within stipulated budget
  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer purchases
  • Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding sales
  • Documents all customer contact and information
  • Represents the company in strategic meetings
  • Helps increase sales and growth for the company
  • Manages the organization’s website
  • Handles eCommerce aspect of the business
  • Responsible for installing and maintenance of computer software and hardware for the organization
  • Manages the organization’s CCTV
  • Handles any other technological and IT related duties

Accountant/Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions
  • Responsible for financial forecasting and risks analysis
  • Performs cash management, general ledger accounting, and financial reporting
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization

Client Service Executive

  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
  • makes suggestions and encourage purchase of products
  • Provides information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
  • Bags or packages purchases and gift wrap merchandise
  • Ensures that toiletries and supplies don’t run out of stock
  • Cleans both the interior and exterior of the store facility
  • Handles any other duty as assigned by the store manager

6. SWOT Analysis

Our intention of starting just one outlet of our hair extension retail store in Charleston – West Virginia is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over major towns in West Virginia and key cities in the United States and Canada.

We are aware that there are several hair extension retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Sharon & Anita Hair Extension Store®, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Sharon & Anita Hair Extension Store®, Inc.

Our location, the business model we will be operating on both (physical store and online store), varieties of payment options, wide range of wigs and hair extension and our excellent customer service culture will definitely count as a strong strength for Sharon & Anita Hair Extension Store®, Inc. So also, our team of highly qualify staff members is also a plus for us.

A major weakness that may count against us is the fact that we are a new hair extension retail store outlet in Charleston – West Virginia and we don’t have the financial capacity to compete with multi – million dollars hair extension retail stores when it comes to retailing our products at rock bottom prices.

  • Opportunities:

The fact that we are going to be operating our hair extension retail store in one of the busiest streets in Charleston – West Virginia provides us with unlimited opportunities to sell our wigs and hair extension to a large number of individuals and corporate organizations.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our hair extension outlets.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a new hair extension retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

  • Market Trends

If you are conversant with the Wigs and Hair Extension Stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, and ever – changing trends are major growth drivers for sales in this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Wigs and Hair Extension Stores industry.

So also, the rising demand for trendy hair extension, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as hair extension stores keep prices low to attract more sales amid growing competition.

A close watch on the industry activities reveals that concentration has increased slightly over the past five years, as merger and acquisition activity has become more prominent. Additionally, companies that have enough funds to invest in multichannel operations have benefitted more than smaller operators with minimal resources.

As part of marketing strategies, hair extension retail stores engage in massive clearance sales and discount sales to attract customers. It is a strategy that helps them welcome new customers and also reinforce the loyalty of old customers.

Lastly, in recent time, the hair extension retail stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a retailer to reach out to a larger market far beyond the areas where his physical hair extension retail store is located.

8. Our Target Market

We are aware that loads of females make use of hair extensions and wigs. In view of that, we have positioned our hair extension retail store to service residents of Charleston – West Virginia and every other location where our hair extension stores will be located all over key cities in the United States of America.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail a wide range of hair extensions to females in and around the location where our hair extension stores will be located.

Our Competitive Advantage

A close study of the wigs and hair extension retail stores industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiff competition and we are well prepared to compete favorably with other leading hair extension retail stores in Charleston – West Virginia and throughout the United States and Canada.

Sharon & Anita Hair Extension Store®, Inc. is launching a standard one stop hair extension retail store that will become the preferred choice of residents of Charleston – West Virginia and every other location where our outlets will be opened.

Our hair extension retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Charleston – West Virginia.

One thing is certain; we will ensure that we have a wide range of hair extension from leading manufacturers available in our store at all times. It will be difficult for customers to visit our hair extension store and not see the type of wig or hair extension products they are looking for.

One of our business goals is to make Sharon & Anita Hair Extension Store®, Inc. a one stop hair extension shop for all classes of customers. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Sharon & Anita Hair Extension Store®, Inc. is in business to retail a wide range of wigs and hair extension. We are in the wigs and hair extension retail stores industry to

10. Sales Forecast

One thing is certain when it comes to hair extension retail stores, if your store is stocked with various types of wigs and hair extensions and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Charleston – West Virginia and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.

We have been able to critically examine the wigs and hair extension retail stores industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Charleston – West Virginia.

  • First Fiscal Year: $250,000
  • Second Fiscal Year: $450,000
  • Third Fiscal Year: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same wigs and hair extension brands as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

Before choosing a location for Sharon & Anita Hair Extension Store®, Inc. we conducted a thorough market survey and feasibility studies to enable us penetrate the available market and become the preferred choice in the market. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want.

We hired experts who have good understanding of the wigs and hair extension retail industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Charleston – West Virginia.

In other to continue to be in business and grow, we must continue to sell the hair extension that are available in our store which is why we will go all out to empower our sales and marketing team to deliver. In summary, Sharon & Anita Hair Extension Store®, Inc. will adopt the following sales and marketing approach to win customers over;

  • Open our hair extension store in a grand style with a party for all
  • Introduce our hair extension store by sending introductory letters alongside our brochure to organizations, households and key stakeholders in Charleston – West Virginia
  • Ensure that we have a wide range of wigs and hair extension from different brands at all times
  • Make use of attractive hand bills to create awareness and also to give direction to our hair extension store
  • Position our signage/flexi banners at strategic places around Charleston – West Virginia
  • Position our greeters to welcome and direct potential customers
  • Create a loyalty plan that will enable us reward our regular customers
  • Engage in roadshows within our neighborhood to create awareness for our hair extension store.
  • List our business and products on yellow pages ads
  • Leverage on the internet to promote our business
  • Engage in direct marketing and sales
  • Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our hair extension store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our hair extension store.

Sharon & Anita Hair Extension Store®, Inc. has a long – term plan of opening outlets in various locations all around West Virginia and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Charleston before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Sharon & Anita Hair Extension Store®, Inc.;

  • Place adverts on community based newspapers, radio and TV stations
  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms to promote our business
  • Ensure that our we position our banners and billboards in strategic positions all around Charleston – West Virginia
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Advertise our hair extension store business in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to hair extension stores, it is normal for consumers to go to places where they can get hair extensions at cheaper price which is why big player in the wigs and hair extension stores industry will attract loads of corporate and individual clients.

We know we don’t have the capacity to compete with big players in the industry, but we will ensure that the prices and quality of all the hair extension products that are available in our stores are competitive with what is obtainable amongst hair extension stores within our level.

  • Payment Options

The payment policy adopted by Sharon & Anita Hair Extension Store®, Inc. is all inclusive because we are aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulations of the United States of America. Here are the payment options that Sharon & Anita Hair Extension Store®, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via check
  • Payment via mobile money transfer

In view of the above, we have chosen banking platforms that will enable our clients make payment for products purchased without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a hair extension retail store business; it might differ in other countries due to the value of their money. This is the key areas where we will spend our startup capital;

  • The total fee for registering the business in the Unites States of America – $750
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300
  • Marketing promotion expenses for the grand opening of Sharon & Anita Hair Extension Store®, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580
  • Cost for hiring Business Consultant – $2,500
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400 .
  • Cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600 .
  • Cost for Shop remodeling (construction of racks and shelves) – $20,000
  • Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 )
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
  • The cost for Start-up inventory (stocking with a wide range of wigs and hair extensions from different brands) – $250,000
  • The cost for counter area equipment – $9,500
  • Cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • Cost of purchase and installation of CCTVs – $10,000
  • The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
  • The cost of launching a Website – $600
  • The cost for our opening party – $7,000
  • Miscellaneous – $10,000

We would need an estimate of $500,000 to successfully set up our hair extension retail store in Charleston – West Virginia.

Generating Startup Capital for Sharon & Anita Hair Extension Store®, Inc.

Sharon & Anita Hair Extension Store®, Inc. is a private registered business that is solely owned and financed by Sharon Williams and her immediate family members. They do not intend to welcome any external business partner which is why they decided to restrict the sourcing of the startup capital to 3 major sources.

  • Generate part of the startup capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from the Bank

N.B: We have been able to generate about $150,000 ( Personal savings $100,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $350,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.

One of our major goals of starting Sharon & Anita Hair Extension Store®, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of quality hair extension a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Sharon & Anita Hair Extension Store®, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility and remodeling the shop: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party planning: In Progress
  • Compilation of a list of products that will be available in our store: Completed
  • Establishing business relationship with suppliers of wigs and hair extensions: In Progress

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Hair Extensions Business Plan Sample

Published Nov.01, 2013

Updated Apr.23, 2024

By: Brandi Marcene

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Hair Extensions Business Plan Sample

Table of Content

Hair Extensions Business plan for starting your own shop

Are you thinking about beginning your hair extensions commercial enterprise? If your solution is sure, there’s no better time than proper now. Why the capability is endless. You most effectively need to observe Instagram peers that the hair extensions enterprise plays an important function in this digital age.

Every technology is seeking perfection, whether it be for that each one-vital selfies for social media or the subsequent big circle of the relative’s wedding ceremony. The hair extensions have exploded during the last decade. Influencers have played an indispensable position in their hair extensions tutorials on YouTube, Instagram, Facebook, and Twitter. This isn’t always only a trend; this is here to stay.

There is lots of room for everyone inside the hair extensions world, moreover, within the hair extensions commercial enterprise. The hair extensions enterprise breaks through generational limitations because all people, young, and old want to look and feel accurate. The marketplace itself is tremendous, almost countless. This is due to the fact hair extensions aren’t only for the rich but additionally, all monetary wallet excessive and occasional.

Executive Summary

There is plenty of room for all and sundry within the hair extensions global, moreover, within the hair extensions business. The hair extensions industry breaks via generational boundaries due to the fact everybody, young and old, desires to appearance, and feels appropriate. The market itself is huge, nearly endless. This is because hair extensions are not just for the rich, but all financial pockets excessive and low.

How to start a business?

Starting your very own commercial enterprise usually begins with a great concept of a way to open hair extensions keep. You can also look for some sample of hair extension business plans. Once the seed is sown, pass on to marketplace research for your chosen business concept. You also can search for a pattern business plan for hair extensions shop. Knowing your market is prime to success. Once you have got set up your center market, you may want to ascertain your opening finances and stay with it. Where will your funds for your new venture come from? Locating the proper outlet/belongings is also key to the fulfillment of your investment business plan . The incorrect vicinity can be the demise of any enterprise.

What are the prices concerned in opening an enterprise?

The expenses of taking a walk your business enterprise range appreciably. This will all rely upon the place, hire/rent of assets/outlet, and the fee of preliminary stock. Then you need to don’t forget staffing fees, shipping import, and export expenses.

How to implement business management?

This critical vicinity is vitally vital for the fulfillment of any business. The right management could make an enterprise, and incorrect control can ruin it. Share your vision with your managers/workforce and make them sense part of something excellent. Show them that they may be valued, and you’ll acquire their loyalty. Make them feel crucial. A great supervisor will reap the willpower in their body of workers, consequently decreasing the personnel turnover rate in line with annum. The business can be more efficient, and economic rewards may be better.

What the target of this commercial enterprise?

The Hair extensions Business’s principal target is to deliver hair extensions products to shops huge and small nationally and across the world at a competitive rate offering discounts on standard bulk-buy orders. We wish to face out from the group and offer a wide range of products that exceed our competitors, hence making our commercial enterprise an appealing alternative.

Company Summary

Planning your business.

When you are all set to get into the hair extension business, it is essential to plan everything from skretch. When starting a hair extensions store, the business/startup, Hair extensions store, has engaged a consultant to help effect a business plan initially. Hair extensions store’s cost budget/funds for a startup will be coming from –inheritance and a business plan bank loan .

Define your brand

Hair extensions store’s measuring stick will be its unique approach on how to start a hair extensions store to customer satisfaction and individual personalization based on customer’s needs. No one customer is the same, and they will not be treated generically. We are not just another hair extensions company, we care about our clients, and they can choose tailor-made order strategies personal to their business. ‘Above and beyond’ is our companies’ motto.

How to Promote & Market a business

The promotion and marketing of the Hair extensions store will profoundly engage in social media marketing. Digital marketing is the heart of any successful business today. Instagram, Twitter, Facebook, and LinkedIn will be vital targeted areas. A full-time digital marketing professional will be hired to run this side of the business to maintain its presence online.

Establish a web presence

A brand new website is currently under construction to engage a highly effective web presence. This will engage customers and garner new ones. Customers will be able to order online as well as walking into the store. Thus, attracting a more extensive customer base. Keeping up to date with Google analytics will also be essential to maintain a high search position.

Company Owner

The owner of the hair extensions store is a young woman who studied the industry at University. She comes from a family who has been in the hair extensions industry for two generations and dreamed of one day owning her own hair extensions business. Her knowledge of the hair extensions industry is vast and will compliment her venture much.

Why he/she started the business

Coming from a long line of family business owners, she always knew that she wanted to make her mark on life, be her boss, and create her own brand new company from scratch. With this in mind, the University was her starting point. They need to gain as much knowledge in addition to what she already had to ensure the success of her business.

How the business started

A fortuitous inheritance enables the birth of Hair extensions store along with a small business loan. In addition, with a business partner, consultant, and help from family business owners. The business was enabled.

Products you may get into the hair weave industry, hair vendor are-

  • A wide range of skincare products will be available, including vegan selections.
  • Various and trusted brands of aromatherapy body oils from leading and well-known brands
  • Body lotion for all skin types for both men and women (vegan selections available)
  • Specialist foot products for the removal of hard skin.
  • Derma wands for anti-aging skin
  • Retinal serums
  • False eyelashes (stick on and semi-permanent)
  • Micro-blading equipment/products
  • Hair products, hair dye/bleach/micro rings/micro loops/ hair extensions and wigs
  • Hair extensions tools, makeup brushes/hairbrushes/tweezers/hair masks/dye mixing bowls/whisks/microbeads/loops/extension hair tape/wig tape/nail drying gadgets/foot spas/nail polish remover/hair clips/hairbands/trays/trolleys/makeup boxes/ nail boxes/

Marketing Analysis of Hair Extensions Store

Market trends.

The observation of market trends is key to the Hair extensions Shop. Using search engines such as Google and Google insights. Twitter trends will also play a key role.

Monitoring online trends in the hair extensions world will be important to the business. What is trending in 2020 in business of selling hair? What is trending amongst influencers on social media such as Instagram and YouTube? Market trends are continually changing and evolving, and the monitoring of these trends to ensure we stay ahead of the rest will be paramount.

Marketing Segmentation

Grouping customers into regular, occasional, and potential divides will help Hair extensions store to keep on top of analytics that is core to current and future Business. Thus, enabling the business to effect a change of direction when needed. It is important to keep up with consumer demands as this affects the products we stock over time.

Business Target

Hair Extensions business’s main targets are hair extensions salons, hairdressers, spas, hotels, and the general public. The aim is to provide everything that a hair/hair extensions salon needs to run their business and to offer all the brands required. The choice for our clients will be a key factor. Limited stock will not be an option if we are to set our business apart from the rest.

What is the critical Target Market?

Hair extensions stores’ key target market is as follows: Hair extensions salons/hair extensions spas/Hotels and the crucial Demographic 16/55, although the general demographic will be much broader. Hair extensions are ageless, and everyone wants to look beautiful.

Operational and Strategic Planning

How to keep customers coming back.

Repeat customers will be at the heart of the Hair extensions store. The most important thing for the success of any business is customer service. To ensure customers keep returning, they will be awarded a bonus card. The more they spend, the more points they receive. These points can be converted to free products and extra discounts off bulk-buys when the points build up. There will be a range of personal delivery options (an area that often fails many customers). Friendly staff and advisors will be on hand for our clients online and instore.

What will be the average receipt of the business?

The average customer receipt will be between $100 and $1000, of course, this depends on the size of the business ordering the goods. Bulk-buy goods would expect an average receipt of $1000

Marketing Strategy

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With our online presence in the form of a professional website that is compatible with mobile phones will increase our marketing online. We will drive traffic through our site by using/offering an affiliate program to customers. Producing natural hair extensions-focused content with keywords that are guaranteed to rank high on search engines will be necessary. Offering incentives on our Social media platforms such as our Facebook page to engage our followers and get them buying and clicking through to our website. Using Facebook and Instagram ads for businesses to promote our products will be an area that we shall implement at the offset.

Competitive Analysis

While preparing the Hair Extensions Business plan, competitive analysis is an essential part to consider. We are in the market when there are numerous other hair extensions organizations inside a mile span. There is an uncertainty that the business will confront the stiff challenge from built-up industry players.

In any case, the business has recognized the key factors that are long accepted to profit the intensity of different hair extensions product organizations. Putting resources into critical areas, with praiseworthy client assistance, latest management technology, and superb cordial staff, will bring us into the challenge.

Sales Strategy

The accompanying techniques will be produced for our store to get more client base:-

  • Showcase our products to corporate customers that are associated with numerous downtown foundations.
  • Extraordinary offers, especially convincing, and adjustable bundles that give high motivating forces to draw in clients.
  • Thorough is showcasing efforts and utilization of both nearby media just as advanced channels to spread business.
  • Offer periodic offers and limits to faithful clients to keep utilizing our products.
  • Ensure that every client gets singular regard for their needs and to get the help they need.

Sales Monthly

The business of the store might not be able to pick up the profitability baseline in the first month, but our plan is made in such a way so that we can quickly mitigate that possibility. Although, when it comes to sales, we expect an exponential increment in the first four weeks of the store.

Sales Yearly

As already mentioned, the business of the store might not be able to pick up the profitability baseline in the first month. Still, it will become sufficiently profitable in the first quarter of the first year. We expect that we will reach our full potential of sales under the given capacity in the first year.

Sales Forecast

During the first 12 months: We expect to make a reasonable marginal profit as setup costs will affect the profit margin significantly as with any business plan in its infancy. However, our sales forecast for the first month is expected to be $40,000 due to clients we have attained initially with potential orders already exceeding our expectations. Our target sales for the first 12 months is expected to be a conservative $250,000

Charges For Opening Store

The fees for opening the Hair extensions store will include the following: Lease/rent costs, staffing costs, stock cost, electricity, water, business rates, telephone, and WiFi.

Personnel plan

The beilow mentioned staff is required while starting a hair business-

Company Staff

  • Chief Executive Officer
  • Quality Assurance Manager
  • Human Resources and Admin Manager
  • Sales and Marketing Team
  • Purchasing Manager
  • Store Manager
  • Delivery Driver
  • Customer Service Executives
  • Security Guard

Average Salary of Employees

To starting a hair business.the following table describes the average annual salary of each employee and total payroll for the next 3 years –

Financial Plan

We have built up a thorough financial arrangement that will completely bolster our business while preparing the business plan for a hair extensions store. Our business will give monetary help with a variety of different speculators. Accessible subsidizing will be accessed and enhanced by an advance that the business means to debit inside the initial three years of opening.

If you are thinking about how to begin a hair extensions store, do not stress as we can assist you with setting up a point by point budgetary plan.

Important Assumptions

We assume that our client base will grow linearly, and the economy will remain strong. Our services might be disrupted due to natural factors, but we will take the top care to make sure that the services remain stable under human conditions.

Brake-even Analysis

We expect that the hair extension store will break even within the first quarter of the first year of opening.

Projected Profit And Loss

We might run into a loss for the first month of operations, but we expect to touch the profit baseline within three months of operations.

Profit Monthly

The monthly profit we will reach will be able to sustain all our operations and will us enough dividends to invest in the future growth of the business.

Profit Yearly

As already mentioned, we might run into a loss for the first month of operations. Still, we expect to touch the profit baseline within three months of operations, and therefore, our yearly profits will be able to pay back all the credit.

Gross Margin Monthly

In the first few months, the margins will remain negative, but when the profitability picks up, we expect a solid margin baseline.

Gross Margin Yearly

Yearly margins will be great and will make us able to expand our business and reach out to a larger customer base.

Projected Cash Flow

In the initial months, we will be running on credit, but soon we will become cash-flow positive.

Projected Balance Sheet

Balance sheets will be outsourced but monitored. Management will make sure it will stay positive.

Business Ratios

The business rations have been calibrated to be perfect in the long term.

Hair Extensions Business Plan Sample in PDF

OGS capital professional writers specialized also in themes such as barbers business plan , business plan for hair salon , laser hair removal business plan , lash business plan , reiki business plan , soap manufacturing business plan and many other business plans.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

business plan for hair extensions

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The essential guide on how to make good selling hair extensions business plan

Hair extension could be a wise choice for running a business as it is not simply a short term instant but a long run business that requires dedication and perseverance. Nowadays, there have been various kinds of hair extensions with different styles, from natural wavy, kinky, to straight, along with different sources such as Brazil,  Peru or some Asian countries like China, Cambodia, Vietnam. This item has a very high demand for different reasons so this makes hair extensions business are terribly profitable. This industry is now becoming more and more massive and a business that brings profits to the businessperson. In order to own and run a profitable hair extension business, you need to research and have great enthusiasm. A selling hair extensions business plan is an indispensable part of this journey. In this guide we’ll attempt to modify a business set up for hair extensions, presenting the steps and providing some best hair extension suppliers. Hopefully, the guide on selling hair extensions business plan provides you insight as well as motivation in getting closer steps your dreams and your abundance. And don’t forget to feature a twist to the setup, which would be a key part to success in business.

What is a business plan?

selling hair extensions business plan

Business Plan is a document that outlines the business process of a company or business in a certain period of time. This plan can include orientations, goals, sales plans, marketing plans … Business plans are set up by business owners or executive directors, marketing directors or people with relevant positions. The more detailed and specific the plan’s content is, the higher its ability to materialize. The business plan has many different types, as long as it is possible to simulate the future of the company or business. Include key issues such as resources, finance, sales & marketing strategies. This helps businesses prepare risks, challenge, and welcome opportunities. In other words, the business plan is the goal, the way of the country is set up by companies and businesses from the beginning of the sales campaign to bring the best business results.

Why do you need to make a selling hair extensions business plan?

selling hair extensions business plan

First of all, let’s talk about the need for selling hair extensions business plan. As mentioned above, the business plan plays an important role in business strategies. A proper business plan will help the leader: – Make accurate decisions in business. – Successful sales strategy – Clear business guidelines

The business plan of the business is like a map for you to travel to a certain country. A daily saying by economists and managers as well as business owners is: “If the business fails to plan, it plans to fail” (If the business fails to plan, then the business has set up a plan for failure already. This statement covers all the meanings of the need for business planning.

If you don’t have a good business plan, no matter how great your business ideas are, it’s hard to succeed, even a heavy failure.

A good selling hair extensions business plan not only determines the success of making the original business idea a reality but also helps you maintain your focus after you succeed.

Things to consider when getting Started Selling Hair extensions business plan

selling hair extensions business plan

An effective choice which requires the least cost to start this business is an online store, which can effectively help to reduce the cost of renting some stores and mainly helps to sell the hair products basing on the power of online marketing. However, you should not let yourself under control of the pressure from an online store. It is much simpler than it might appear, and can totally start selling your products on some channels of social media. A lot of successful hair stories can be your example, and almost all the owners had no experience in IT at first now have built the brightening hair business empires just by with first small steps. A complete selling hair extensions business plan should include the following six basic steps:

Your own business idea

The first and most important thing is a business idea. You have to have business ideas in your head and think carefully about those ideas. In history, the idea, whether crazy or great, has the potential to succeed. For example, Bill Gates gave up his university to start a company. At that time, many people considered it crazy, but in the end, everyone knew his success. A good selling hair extensions business plan really needs this thing.

Set goals and objectives for selling hair extensions business plan

These are the results that business ideas need to achieve. You will have to answer the following questions: What will you gain from your business in terms of time, money and experience? How to measure the success of that business (eg total revenue, net profit, how many employees, how much market share). How long will it take to measure that level of success (one year, two years or five years)?

Setting goals and achieving results can be encapsulated in SMART (smart), where S is Specific (Specific), M is Measurable (measurable), A is Achievable (Can be achieved) ), R is Realistic and T is Timely (duration). This will strengthen your selling hair extensions business plan a lot.

Market research and analysis

selling hair extensions business plan

To ensure a successful business and make the most effective selling hair extensions business plan, it is necessary to organize market research and analysis. Consider whether there are companies and organizations that have been doing business in that area, how successful they are, who their customers are, the needs of the future market like that… If you do not have expertise in the field of market research and analysis, it is best to go to a consulting firm. The consulting company will provide you with all the research and market analysis information with your order content.

SWOT – Strength, weakness, opportunity and Threats analysis

A complete selling hair extensions business plan is not possible without this thing. More than anyone else, you must know your strengths and weaknesses when doing that business goal. For example, if you are a computer expert and you want to do business in the computer field, it is a strong point in your field of business, but the weakness may be that you do not have management experience, marketing experience. … Market analysis also helps you predict the opportunities and challenges that threaten the success of that business idea when you start working.

Plan your marketing

The strategies you will take to entice customers and, more importantly, keep customers when you use your products and services. You should always ask the question: how do customers know their products and services and which marketing strategies are best to do so for your selling hair extensions business plan. No matter how good your products and services are, it will be meaningless if no one knows your business.

Financial plan

What financial resources to finance the selling hair extensions business plan, such as loan capital, owner’s capital and how will those funds be used? Many entrepreneurs believe that financial planning is the most important decision of the business.

A sample of selling hair extensions business plan for you

selling hair extensions business plan

– Total cost: This will be your initial investment which is at least $1000 – $2000, including + Store rent costs: almost all contracts have to be signed at least 1 year. + Expenses for counters, glass cabinets, mirrors, counseling desks … + The cost of initial purchase due to the inability to buy products for the first time + Cost for hiring 1-2 employees in 2-3 months. However, if the store is small, the owner can sell and manage to save costs in the first stage + Contingency expenses in the first 3 months of business -> Preparation time: about 1 month – Staff (if any): + Need to recruit employees knowledgeable about beauty care, especially hair extensions and know how to consult costumers + Ability to communicate + Have a great knowledge about hair extensions and love beauty work

– Making sales and marketing plan:

+ Researching the market demand around the sales area, researching competitors and selling prices in the expected business area;

+ Sales target: estimate revenue, cost, monthly profit;

+ How to advertise, attract customers with social media, websites (if possible), …

– Skill:

+ Manage display and memorize items that you do business: neat and logical arrangement  will help you save time searching as well as periodic inventory

+ Communication: customers often pay attention to sales attitudes of shopkeepers or employees. Therefore, it is necessary to show enthusiasm and fun when selling goods

+ Some kinds of hair extensions often cause allergies so employees need to handle such situations so as not to discredit the store. For example, it is possible to instruct customers to use another type of hair extensions to combat allergies or contact some centers, hospitals … for proper diagnosis.

– Experience:

+ You must be knowledgeable about the use of hair extensions; how to use hair extensions, etc.

+ Also you need to have experience with hair extensions for men, children, older people … because customers are often confused about choosing which products are suitable.

– Source: + Trading in imported hair extensions: Aliexpress, DHGate, Amazon, etc. + A number of domestic hair extensions production companies and establishments such as Private Label Extensions, Airy Hair, etc.

+ Some foreign hair extensions brands have factories or distribution centers in your country.

Stephanie Peter

Stephanie is a hair specialist at Belady Hair Factory, a high-end hair distributor located in downtown Toronto. She is a trained cosmetologist and has been with the company for over five years. Stephanie has vast knowledge in hair care and styling and can provide clients with everything from classic to trendy looks. She is also knowledgeable about the different products in the market and can help clients choose the right one for their hair type. Full her bio .

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Wig Business Plan Template

Written by Dave Lavinsky

wig business plan

Wig Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their wig companies.

If you’re unfamiliar with creating a wig business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a wig business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Wig Business Plan?

A business plan provides a snapshot of your wig business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Wig Business

If you’re looking to start a wig business or grow your existing wig company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your wig business to improve your chances of success. Your wig business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Wig Businesses

With regards to funding, the main sources of funding for a wig business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for wig companies.

Finish Your Business Plan Today!

How to write a business plan for a wig business.

If you want to start a wig business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your wig business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of wig business you are running and the status. For example, are you a startup, do you have a wig business that you would like to grow, or are you operating a chain of wig businesses?

Next, provide an overview of each of the subsequent sections of your plan.

  • Give a brief overview of the wig industry.
  • Discuss the type of wig business you are operating.
  • Detail your direct competitors. Give an overview of your target customers.
  • Provide a snapshot of your marketing strategy. Identify the key members of your team.
  • Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of wig business you are operating.

For example, you might specialize in one of the following types of wig businesses:

  • Brick and mortar : this type of wig store is located in a brick and mortar retail location and sells a variety of wigs.
  • Online: this type of wig store is found online and does not have a physical retail presence.
  • Custom: this type of wig store makes custom wigs for a customer’s specific need.
  • Show wigs : this type of wig store specializes in providing eccentric, bright, and show stopping wigs to be worn for performances and shows.

In addition to explaining the type of wig business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of customers served, the number of customers with positive reviews, reaching X number of customers served, etc.
  • Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the wig industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the wig industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your wig business plan:

  • How big is the wig industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential target market for your wig business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your wig business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals of all ages, performers, cancer patients, and the elderly.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of wig business you operate. Clearly, cancer patients would respond to different marketing promotions than performers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Wig Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other wig businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes big box retailers, hair stylists, or theater production companies. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

  • What types of customers do they serve?
  • What type of wig business are they?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide custom made wigs?
  • Will you offer products or services that your competition doesn’t?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a wig business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of wig company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide tupets, weaves, or hair extensions?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your wig company. Document where your company is situated and mention how the site will impact your success. For example, is your wig business located in a busy retail district, a mall, a standalone shop, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your wig marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

  • Advertise in local papers, radio stations and/or magazines
  • Reach out to websites
  • Distribute flyers
  • Engage in email marketing
  • Advertise on social media platforms
  • Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your wig business, including taking inventory, customer orders and fulfillment, billing customers and/or vendors, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your Xth wig, or when you hope to reach $X in revenue. It could also be when you expect to expand your wig business to a new city.  

Management Team

To demonstrate your wig business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing wig businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a wig business or successfully running a small retail store.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.  

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you sell 5 wigs per day, and/or offer discounts for buying more than one wig? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.  

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your wig business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.  

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a wig business:

  • Cost of wig inventory and store supplies
  • Payroll or salaries paid to staff
  • Business insurance
  • Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your retail store location lease or a list of wigs you plan to offer.  

Writing a business plan for your wig business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert and know everything you need about how to start a wig business. You will understand the wig industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful wig business.  

Wig Business Plan FAQs

What is the easiest way to complete my wig business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your wig business plan.

How Do You Start a Wig Business?

Starting a wig business is easy with these 14 steps:

  • Choose the Name for Your Wig Business
  • Create Your Wig Business Plan
  • Choose the Legal Structure for Your Wig Business
  • Secure Startup Funding for Your Wig Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Wig Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Wig Business
  • Buy or Lease the Right Wig Business Equipment
  • Develop Your Wig Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Wig Business
  • Open for Business

Don’t you wish there was a faster, easier way to finish your Wig business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business plan advisors can give you a winning business plan.

Other Helpful Business Plan Articles & Templates

Business Plan Template For Small Businesses & Entrepreneurs

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Any Ideas On Selling Hair Extensions Business Plan? Read This!

Table of Contents

Human hair extensions now are the best-hunted item for women as they help wearers achieve gorgeous hair instantly. There is a wide range of extensions available on the market, choosing clip-ins, bundles, or closures, it’s all up to you. Because human hair is flexible, durable, and looks more natural, it is preferred than the synthetic hair ones. If you are looking to start a business to make extra money, consider selling human hair extensions. Before taking this business, you need to have a selling hair extensions business plan . Here they are: 

Selling hair extensions business plan

Determine the direction your hair company will go for.

Bear in mind that a company could not survive for a long time if it did not have a target and mission. It means that before starting your hair extension entrepreneur, create a plan that indicates how you operate and a simple idea about your business. It is necessary to determine the types of hair extensions you sell and service you are going to provide. Give a detailed description of customers who you want to aim for. Even a careful plan can estimate how much money can you make selling hair extensions . You should enhance the hair extensions marketing plan and increase the quality of goods if you want to export hair. 

Any Ideas On Selling Hair Extensions Business Plan? Read This!

To learn the basics about hair extensions, you need to read books on cosmetology and hair care tips. Or join several hair care forums on Google and consult licensed hairdressers to learn about real human hair systems. Let’s take Layla wholesale hair vendor for example. While Brazillian and Indian hair are taking clients by storm, they sell Vietnamese and Cambodian hair of good quality at affordable prices. Hence, please discuss the orientation carefully in your selling hair extensions business plan .

About financial

Remember that you are planning to sell hair extensions, so fund-raising is inevitable. It comes to the question “how much money do you need to start your business?” It depends on you and your budget. You can seek a bank loan or find grants for hair extension business to secure funds. Make sure that you know how to allocate that money properly.  

Before investing in hair extension business for sale , you must study the places providing hair. It is it far from your area? How much it will cost to deliver human hair extensions? Also, you must try to find and figure out how much human hair extensions will cost you to buy. Are you ready to face these challenges when starting your hair business? 

Any Ideas On Selling Hair Extensions Business Plan? Read This!

Choose sales medium

A good selling hair extensions business plan includes a venue and sales medium that your company offers. Would you sell hair online or plan open a brick-and-mortar hair shop? Decide what suits you best. 

You still need to find a venue to store the hair if you are planning to open an e-commerce hair store. Where is the secure storage space to maintain the hair? You can rent a warehouse or commercial storage facility that is near your address and smooth traffic. Let human hair extensions lay flat on the surface or hang it up, avoid bending or twisting them. Try not to ruin the hair. 

How to attract customers

Any Ideas On Selling Hair Extensions Business Plan? Read This!

Prepare a selling plan that provides incentives and discounts for consumers to shop with you. Already, there are thousands of hair retailers providing different types of human hair systems, so you will have a hard time when breaking into the market the first time. Have some discounting policies and endow for customers to compete with other sellers. 

Your written business plan should have a part of how to sell hair extensions online pdf . Find out and indicate the customers’ demand for hair extensions in your area. It’s vital to study whether people are willing to purchase human hair replacement systems. Figure out the type of hair your potential clients prefer. Then taking photos and post regularly on your social media accounts, like Facebook, Instagram, Twitter, and more. We are sure that nice pictures and high-quality hair are a powerful weapon to attract followers.

In addition, a selling hair extensions business plan should include hair vendors, human resources, and how to operate. You should invest your time and money if you are going to plan start hair business. 

  • Seeking Cambodian Hair Vendors? – You Need To Read This First
  • Best Wholesale Hair Suppliers: How To Find It? This Will Help You
  • Insiders’ Guide To Hair Business Plan – Understanding The Basics
  • 9 Web Design Essentials To Learn Before Creating Hair Business Websites

Why you need a business plan?  

Hair extensions are a new and hot field in many countries; hence, if you don’t prepare yourself, you may get lost in the maze of hair. Even you are at risk of bankruptcy if you don’t have a detailed plan. 

Any Ideas On Selling Hair Extensions Business Plan? Read This!

No matter which types of hair extensions you are focusing on and planning to sell, ensure that you spend time on writing a detailed selling plan. You have to sketch a plan for selling hair extensions. Having a vision statement for hair extension company is vital as it helps you try to achieve the target. There are many things into consideration when it comes to hair systems. 

In conclusion

We want to state that selling human hair extensions is a very profitable business that does not require much working capital. You can start from a small seller and then develo p as a wholesale retailer. Don’t forget to prepare a detailed selling hair extensions business plan if you want to make a side business to make extra money. Also, consult other experts and hairstylists to learn more about the business and hair extensions before launching your business.

Now, it’s time for you to practice and write a business plan. If you have not found any hair vendors, don’t hesitate to contact us . Layla Hair company has many years and experiences in this field and only sell human hair products. We provide an array of human hair extensions, including hot fusion, hair weaves, hair bundles, and so on. Trust us – our human hair replacement systems at the top-notch quality will satisfy you as well as your customers. Don’t buy hair from unreliable sellers as they give you poor-quality hair products and your customers will never back with you. Remember that be a wiser seller when you start your hair business. 

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Quartermasters & Siren Hair by Candace

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Candace provides luxury services in her edgy, upscale salon for men & women ages 16 and up. All appointments are private and exclusive to maintain a relaxing atmosphere for all clients.the salon is located in Archdale, NC. Salon is located in the same shopping center as J Butlers. Relax with a complementary cold beer or wine and watch 55" tv's and a wide range of music ranging anywhere from alternative, classic rock, heavy metal, oldies, todays hits, country and hip. ​ …

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Marketing Your Hair Extensions Business: 9+ Ideas to Get Customers

Starting and running a hair extensions business can be an extremely rewarding experience, but only if you know how to effectively market it to your target audience. Finding customers is often the biggest challenge that hair extension entrepreneurs face, but with the right strategies and tactics, you can get your business off the ground and attract customers who will keep coming back. In this article, we’ll provide you with 9+ ideas on how to successfully market your hair extensions business and get the customers you need to make it a success.

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  • How to Start a Profitable Hair Extensions Business [11 Steps]
  • 25 Catchy Hair Extensions Business Names:
  • Hair Extensions Business Plan Template & Guidebook

1. Unique marketing idea for Hair Extensions business.

2. build a website for your hair extensions business., 3. leverage social media for your hair extensions business., 4. run a promotion for your business., 5. run digital advertisments for your hair extensions business., 6. start a referral program., 7. improve your hair extensions business google rankings through seo., 8. leverage print marketing., 9. build your hair extensions business email list & use email marketing., list of the best marketing ideas for your hair extensions business:.

One truly unique marketing idea for a Hair Extensions business could be to partner with a local salon or beauty school to host a hair extension demonstration and styling workshop. At the workshop, a professional stylist could demonstrate the different methods of installing and styling hair extensions, as well as teach attendees how to properly care and maintain their hair extensions. This would be a great way to introduce your products to a new audience and give them an opportunity to learn from an expert. Additionally, offering discounts or special promotions for attendees would be a great way to get them to purchase your products.

Building a website for your Hair Extensions Business is a great way to reach a larger audience, increase brand visibility, and build a platform to showcase your products. You can use the website to provide customers with information about your services, pricing, and product options. It is also a great way to create an online presence and establish yourself as a reliable Hair Extensions business. Additionally, it can help you generate leads, increase sales, and build customer loyalty.

Image of liveplan business formation

Social media marketing is an invaluable tool for any hair extensions business. It can help to expand your reach, engage with potential customers, and build your brand's online presence. Through creative content and targeted campaigns, you can share your message with a wide audience and gain valuable insights into consumer preferences. By utilizing social channels like Instagram and YouTube, you can showcase the quality of your hair extensions, demonstrate how to use them, and provide helpful styling tips. You can also build relationships with potential customers through interactive content, such as polls and Q&A sessions. With social media, you can make sure that your hair extensions business stays top-of-mind with customers and stands out from your competitors.

  • Increases brand visibility and recognition
  • Helps to attract new customers
  • Generates more sales and boosts revenue
  • Makes customers more loyal
  • Encourages customers to try out new products
  • Creates a sense of urgency and encourages customers to buy now

Running digital ads for your Hair Extensions business is an effective way to reach potential customers and increase sales. Digital ads allow you to target your ideal customer based on location, interests, and other factors. Additionally, digital ads are much more cost-effective than traditional advertising methods, such as TV, radio, and print. With digital ads, you can track your results in real-time, making it easy to adjust your campaigns to get the most bang for your buck. For example, if you're running ads on Facebook, you can track the cost-per-click, how many people are clicking through to your website, and the number of people who took action on your ad. This data allows you to quickly optimize your campaigns to achieve the best possible results. By running digital ads for your Hair Extensions business, you can reach more potential customers, increase sales, and maximize your return on investment.

Image of an example Hair Extensions business text ad

Launching a referral program for your Hair Extensions business is a great way to increase sales and grow your business. Referral programs are a win-win for both parties: customers can earn rewards for referring friends, and your business can benefit from the increased exposure and sales. Referral programs also build customer loyalty, as customers are more likely to recommend your products to their friends and family if they have already had a positive experience with your business. Additionally, referral programs are cost-effective and can be easily integrated into your existing marketing strategy. By launching a referral program, you can quickly and easily reach a larger audience and boost your sales.

Image of Hair Extensions business Google Search SEO results

Investing in SEO marketing for your Hair Extensions business is an excellent way to drive more customers to your website and increase sales. SEO is an effective way to make sure that your website is seen by potential customers who are searching for hair extensions. SEO will help your website rank higher in search engine results, making it more visible to potential customers. With SEO, you can target specific keywords related to hair extensions, helping you to reach a more targeted audience and drive more relevant traffic to your website. Additionally, SEO is a cost-effective way to market your business as it does not require you to pay for ads or other forms of marketing. Investing in SEO will help you increase visibility, reach more potential customers, and ultimately drive more sales for your business.

Print marketing is a powerful tool for businesses - even in the age of digital media - and can be especially effective for hair extensions businesses. Leveraging print marketing in your hair extensions business can help you to reach a wide and diverse audience, effectively communicate your brand's message, and build relationships with customers. Print marketing can help you to target a specific audience or demographic. You can use print materials such as flyers, posters, and brochures to target a specific geographic area or a predetermined demographic, such as women under the age of 30. This allows you to ensure that your message is reaching the right people, increasing the likelihood of conversion. Print marketing can also be used to effectively communicate your brand's message. Printed materials allow you to highlight the unique features of your business, such as quality, customer service, and affordability. You can also use print marketing materials to showcase the range of products and services that you offer. Finally, print marketing can help you to build relationships with customers. By engaging with customers through printed materials, you can create a sense of trust and loyalty. This can result in customers returning to your business, or even recommending your business to friends and family. Overall, print marketing is an effective tool for hair extensions businesses that can help to reach a wide and diverse audience, effectively communicate your brand's message, and build relationships with customers.

Building an email list and leveraging email marketing for a Hair Extensions business in 2023 is important for a number of reasons. Email marketing allows you to target potential customers with personalized emails that are tailored to their specific interests. This helps to increase engagement and build relationships with customers, as well as increase brand awareness. Additionally, email marketing is a cost-effective way to reach a large number of people who may be interested in your product. Email marketing also allows you to track customer engagement and measure the success of your campaigns, making it easier to refine and optimize your marketing strategies. Finally, email marketing allows you to stay at the forefront of your customers' minds, ensuring that they remember your brand and consider it when looking for hair extensions.

Where can I Find Marketing Resources for my Hair Extensions Business?

There are a variety of online marketing resources that can help you start and grow your hair extensions business. You can find helpful tips and advice on popular websites like Forbes, Entrepreneur, and Small Business Trends. You can also find helpful resources on social media platforms such as Instagram, Pinterest, and YouTube. Additionally, you can join local and online networking groups to get advice from experienced entrepreneurs and hair extension professionals.

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

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business plan for hair extensions

IMAGES

  1. How To Make A Successful Hair Extension Business Plan?

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  2. Hair Extension Business Plan Template in Google Docs, Word, Pages

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  5. How To Create A Hair Salon Business Plan in 2023 (with Template)

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COMMENTS

  1. Hair Extensions Business Plan Template (2024)

    Hairapy Extensions is currently seeking $280,000 to launch. The funding will be dedicated to the store design and buildout, working capital, overhead, supplies, and marketing costs. The breakout of the funding is below: The following graph below outlines the pro forma financial projections for Hairapy Extensions.

  2. Hair Extensions Business Plan Template + How-To Guide [Updated 2024]

    Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a hair extension company, your marketing plan should include the following: Product: In the product section, you should reiterate the type of hair extension company that you documented in your Company Analysis.

  3. Unlocking Success: Crafting a Powerful Hair Extension Business Plan

    A well-crafted business plan is essential for the success of your hair extension business. It provides a snapshot of your company's current status and outlines the future growth plan for the next five years. A comprehensive business plan acts as a roadmap, guiding you towards your business goals and helping you secure funding if necessary.

  4. Hair Extension Business Plan [Free Template

    Writing a hair extension business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the business plan. However, it is written after the entire business plan is ready and ...

  5. The #1 Hair Extension Business Plan Template & Guidebook

    How to Write a Hair Extension Business Plan in 7 Steps: 1. Describe the Purpose of Your Hair Extension Business. The first step to writing your business plan is to describe the purpose of your hair extension business. This includes describing why you are starting this type of business, and what problems it will solve for customers.

  6. Hair Extensions Business 101: Full Guide (2024)

    Hair Extensions Business 101: Full Guide (2024) By Sam Fisher Published January 18, 2024. 29 Min Read. SHARE. Get 10% Off Our Extensions. The content below is from the upcoming book about nothing but a hair extension business.

  7. How to Start a Hair Extension Business in 14 Steps (In-Depth Guide)

    The hair extension industry is booming. The market reached $4.06 billion in 2022 and is projected to reach $7.9 billion by 2030, according to Fortune Business Insights.More people are turning to clip-ins, tapes, and sew-ins to avoid drastic permanent hair changes.

  8. Hair Extension Business Plan: Blueprint for Success

    How This Model Turned $1.5K into a $100 Million Hair Extensions Business | Glamour. Regularly updating the business plan ensures alignment with company goals and serves as a valuable reference for decision-making and progress tracking. It's not just a static document but a dynamic tool that evolves with the business.

  9. Hair Extension Business Plan Sample: A Detailed Financial Roadmap

    The Hair Extension Market Landscape remains an ever-evolving facet of the beauty industry. With aesthetic preferences shifting and technological advancements unfolding, understanding the current fabric woven by consumer demands and market trends is crucial for a successful business plan in hair extensions.

  10. Hair Extensions Business Plan Template & Guidebook

    Our Hair Extensions Business Plan Template & Guidebook is designed to help you easily create a comprehensive business plan for your hair extensions business. This guidebook provides step-by-step instructions on how to create each section of your business plan, as well as helpful tips and examples to ensure that your plan is thorough and ...

  11. How to Start a Profitable Hair Extensions Business [11 Steps]

    2. Draft a hair extensions business plan. 3. Develop a hair extensions brand. 4. Formalize your business registration. 5. Acquire necessary licenses and permits for hair extensions. 6. Open a business bank account and secure funding as needed. 7. Set pricing for hair extensions services. 8. Acquire hair extensions equipment and supplies. 9.

  12. How to write a business plan for a hair extension company?

    Creating a business plan for a hair extension company is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

  13. How to Start a Hair Extensions Business [Business Plan]

    When it comes to starting a hair extensions business, the startup costs could range from $50,000 to over $250,000 depending on how much equipment the business owner decides to purchase and the production facility and space leased. Please note that this amount includes the salaries of all the staff for the first month of operation.

  14. How To Start A Hair Extension Business

    Step 1: Research the Market. You've got the vision and the skills to start a hair extension business, but there's a crucial first step you shouldn't skip: finding out if people actually want what you're planning to offer. Market research is the cornerstone of any successful business plan.

  15. Hair Extension Production Business Plan [Sample Template]

    Cost of hiring business consultants - $5,000. Cost of processing hair extension machines - $20,000. Cost of store equipment and hardware (racks, shelves) - $5,000. Cost of leasing a facility for at least a year - $50,000. Cost of purchasing hair extension distribution vehicle - $30,000.

  16. Hair Extension Selling Business Plan [Sample Template]

    The cost for Start-up inventory (stocking with a wide range of wigs and hair extensions from different brands) - $250,000. The cost for counter area equipment - $9,500. Cost for store equipment (cash register, security, ventilation, signage) - $13,750. Cost of purchase and installation of CCTVs - $10,000.

  17. Hair Extensions Business Plan Sample

    When starting a hair extensions store, the business/startup, Hair extensions store, has engaged a consultant to help effect a business plan initially. Hair extensions store's cost budget/funds for a startup will be coming from -inheritance and a business plan bank loan. Define your brand

  18. How to Start a Profitable Hair Extension Business [11 Steps]

    2. Draft a hair extension business plan. 3. Develop a hair extension brand. 4. Formalize your business registration. 5. Acquire necessary licenses and permits for hair extension. 6. Open a business bank account and secure funding as needed. 7. Set pricing for hair extension services. 8. Acquire hair extension equipment and supplies. 9.

  19. The Essential Guide On How To Make Good Selling Hair Extensions

    A sample of selling hair extensions business plan for you. How to make a good selling hair extensions business plan (Source: Internet) - Total cost: This will be your initial investment which is at least $1000 - $2000, including. + Store rent costs: almost all contracts have to be signed at least 1 year.

  20. PDF Hair Extension Business Plan Business Plan Example

    Market size and growth potential. Help tip Hair Extension Business Plan. Describe your market size and growth potential and whether you will target a niche or a much broader market. For example, the global hair extension market size was 2.38 billion USD in To 2021, unlock explain help try Upmetrics! how .

  21. Wig Business Plan Template [Updated 2024]

    Marketing Plan. Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a wig business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of wig company that you documented in your company overview.

  22. Any Ideas On Selling Hair Extensions Business Plan? Read This!

    Your written business plan should have a part of how to sell hair extensions online pdf. Find out and indicate the customers' demand for hair extensions in your area. It's vital to study whether people are willing to purchase human hair replacement systems. Figure out the type of hair your potential clients prefer.

  23. Quartermasters & Siren Hair by Candace

    Specialties: Candace provides luxury services in her edgy, upscale salon for men & women ages 16 and up. All appointments are private and exclusive to maintain a relaxing atmosphere for all clients.the salon is located in Archdale, NC. Salon is located in the same shopping center as J Butlers. Relax with a complementary cold beer or wine and watch 55" tv's and a wide range of music ranging ...

  24. Marketing Your Hair Extensions Business: 9+ Ideas to Get Customers

    Investing in SEO will help you increase visibility, reach more potential customers, and ultimately drive more sales for your business. 8. Leverage Print Marketing. Print marketing is a powerful tool for businesses - even in the age of digital media - and can be especially effective for hair extensions businesses.