Before you take your mobile beauty business on the road, you may want to seek funding. But for that, you’ll likely need a business plan. It can help you to attract investors or apply for a small business loan. You could use this cash to buy equipment, lease a vehicle for appointments, or invest in a marketing campaign. To help you build your business plan, learn all of the key sections to include.

This guide discusses creating a business plan for mobile beauty therapy service, including:

  • Executive summary
  • Leadership
  • Services
  • Market analysis
  • Financials

Executive summary

An executive summary is the first opportunity to sell your idea and keep an investor or lender reading. Make sure it includes a few key things. 

Overview

Your summary can start with an overview of the business. Keep it short and sweet, but make it as exciting as possible. If you were explaining your company to someone in the street, you wouldn’t go into everything. You would give an enticing and compact pitch. So write your overview like that, including the most critical points of your mobile beauty business. 

Identified problems

To prove that your proposal is unique, identify a problem you look to solve. It could be something that isn’t currently available, but people need. For example, there may not be a mobile beauty business for influences to prepare for shoots.

Solutions

Demonstrating how your business solves a problem is a straightforward way to market your services. For the above example, you can approach and sell your services to influencers through Instagram. Eventually, aspiring social media users will start to seek out what you offer. 

Leadership

Before accepting your application for a small business loan, banks want to know if they can trust you to pay it back on time. Investors also want to know who they are investing and if the  business is worth it. It would be helpful to include a section detailing the company’s leadership to reassure both groups.

Experience

Suppose you have experience within the beauty industry. Detail everything you have done. If you have a portfolio of the looks you created in the past, include some of those. Discussing any of your health and beauty qualifications will also strengthen this section. 

Skills

Beyond what you have done in the past, mention what you can do now and in the future. For example, if you do YouTube makeup tutorials you may have skills in marketing. Even if there are areas you’re unfamiliar with. You can mention how you are actively overcoming that.

Suppose you are unfamiliar with finance. You could mention using an accounting app tailored to small business owners like Countingup. Countingup combines a business current account with accounting software. It is designed specifically for single person businesses and makes your finances accessible through your phone.

Services

Investors or lenders may be unfamiliar with the beauty industry, so include a section that explains the services you provide. Services can consist of the options, timings and costs.

Options

Give the options with prices that clients will choose from when using your services. Explaining the range you offer might help clarify the business. You don’t have to go into too much detail about the processes, but briefly describe what you do.

Timing

It would help if you understood how long you could expect your services to take. If you share information about this, it shows you considered scheduling. Also, mention how you aim to keep to each appointment. Perhaps you will use a booking app like Booksy, which allows beauty service providers to accept bookings and payments.

Costs

The section on services can also include how much you expect each visit to cost you. For example, fuel for driving to appointments or buying hair due. Explain how you plan to keep track of your costs. You could mention the Countingup app’s receipt capture tool, which lets you use your phone camera to record paper bills. With the feature, you can add fuel and supply expenses to your accounts straight away.

Market analysis

Another crucial section for your business plan is a market analysis. You would benefit from demonstrating that you know your audience and competitors. To help you find out both, it may involve conducting market research.

Competitors

To find out who your competitors are, search online to see what similar businesses in your area offer. If there are other mobile beauty therapists, look at their services and prices. If you can offer something they can’t or undercut them on price, mention that in your plan. 

Target audience

While investigating competitors, you might notice certain groups of people they market to. This research may help you decide who you should target. For example, if another business mainly caters to older women, that could give you options for yours. You could either aim to target their customers or choose to reach younger women.

You can also research what services and prices different groups want. For example, you can ask people what they like and how much they’ll pay for it by creating a survey. Having evidence to back up your chosen audience will also give your plan more credibility.

Financials

To further reassure investors or lenders of the likelihood of your success, include financial information. 

Amount needed

An essential part of a proposal to the bank or investor is the figure you ask for. When you choose how much you need, it’s not a case of any number. Show why you need that amount. For example, to get funds for a new electric vehicle, mention not having to pay for fuel and road tax.

Paying it back

Another crucial point in your financial section is proving your ability to pay money back. You can’t see into the future, but you can put together a sales forecast. Calculate your estimated monthly, quarterly or yearly sales and multiplied by how much clients will likely spend. A sales forecast can demonstrate how much you expect to come into the business and how you’ll pay back your loans.

Organise your financial management with Countingup

Another critical point that you can consider for your financial section is showing its management. By using Countingup, you can benefit from an expense categorisation feature, which can sort your different costs into HMRC approved labels.

Assure investors and lenders that you’ll keep on top of what comes in and out of your business. With Countingup’s cash flow insight feature, you can show that you’re always able to check on your financial health.

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