Barrett’s Beauties Boutique

Barrett’s Beauties
Boutique
 Barrett’s Beauties Boutique

CONTENTS
Executive Summary........................................................................................................................................................3
Introduction.....................................................................................................................................................................4
Market Research.............................................................................................................................................................7
Product/Service Description...........................................................................................................................................8
Consumer/Customer identification & Description.........................................................................................................8
Current Competitive Situation........................................................................................................................................8
Distribution Channels.....................................................................................................................................................8
SWOT Analysis..............................................................................................................................................................8
Marketing Strategies.......................................................................................................................................................9
Communication Strategies..............................................................................................................................................9
Marketing Budget.........................................................................................................................................................10
Implementation Strategy...............................................................................................................................................10
Evaluation Method(s)....................................................................................................................................................10
References, Bibliography..............................................................................................................................................11
Appendices....................................................................................................................................................................11

EXECUTIVE SUMMARY
 Barrett’s Beauties Boutique
Barrett’s Beauties is a hair boutique where customers can customize their wig style and fit
before placing and order installation and other hair styling services. The hair care segment
accounted for 18% of the total revenue of the global beauty market in 2017 and was the second-
largest segment after skincare. The Wig and Hairpiece Stores industry represents a niche product
retailer within the hair-care sector(ltd, M, n.d.). Barrett’s Beauties Hair Salon will develop a
premium wig and hair accessories line that will provide and intimate, professional environment
for patrons to make hair choice and selections. Our focus is providing custom made wigs for
individuals that purchase wigs and hairpieces for aesthetic purposes and those that purchase
cranial prothesis wigs, which are for people who have lost their hair due to a medical condition
or treatment. Recognizing the dramatic increase in fake, processed human hair offered online and
local beauty supply store leaves many clients wishing they had a professional stylist to guide
them as well as offer a better selection of wigs and hair accessories.

The clientele of Barrett’s Beauties is the initial target audience for retailing the wig and hair
accessories. Barrett’s Beauties wigs and hair accessories line will focus on providing top quality
products combined with an outstanding customer service to meet all our clients’ needs wig and
hair accessory needs. Low interest rates, increasing employment and an improving financial
outlook have caused per capita disposable income and overall consumer confidence to increase
in the hair extension market. Per capita disposable income is expected to rise at an annualized
rate of 2.4% over the five years to 2019(ltd, M, n.d.). The rising number of middle-class
populations that are emerging as the next potential customers for the beauty industry is driving
the growth of the global hair wigs and extension market. The trend of selling hair extensions
online has been increasing in recent years, a significant share of hair wigs and extensions
distribution takes place through specialty stores, hair salon and beauty stores, and hair clinics
(ltd, M, n.d.). While there are several companies that offer custom wigs and hair selection, a
close study of the Wig and Hairpiece stores industry shows that the industry has low and steady
barriers to entry.

INTRODUCTION

Company History: I am Ieshia Barrett and I have over twenty years’ experience in the hair
industry. After receiving my master’s cosmetology in the state of West Virginia I began working
for the JCPenney hair salon from 2003 until 2011. It was there I learned Matrix’s CRAFT hair
styling and cutting techniques as well as the corporate structure of running a hair salon. While
being the owner and operator of the Culture of Beauty Hair Salon I obtain my Bachelor of Arts
from West Virginia State University in Business Administration. Over the last two years my
family and I have relocated to Atlanta Georgia to continue growing our family in our home state.
I am now the owner and operator of Barrett’s Beauties located and operated in my home, ten
miles from Hartsfield Jackson International Airport. Barrett’s Beauty’s has operated for almost
two years and offer services to an upscale private selection clientele. The patrons of Barrett’s
 Barrett’s Beauties Boutique
Beauty can be defined as clients who have extreme hair issues that may cause embarrassment in
an ordinary public hair salon. My clients seek out services for hair replacement, hair loss
treatments, protective styles, hair extensions and custom wigs.

Purpose: Within the two years I have expanded my customer base to include 80 regular
customers and at least two new clients a month. While my customer base is thriving, the
business’s retail sales need a marketing strategy plan that will increase profits. To manage the
need for quality wigs and hair accessories, Barret’s Beauties will create a marketing plan that
will expand retail sales by adding a line of human and synthetic hair wigs and accessories. My
customers are always complaining about the poor-quality hair options available at the local
beauty supply stores. Not to mention the obscure orders from fake hair vendors online. I have
had to redesign the expensive wigs my clients purchase online many times. At this time, 90% of
my clientele purchase wigs and hair accessories at the local beauty supply or online, whether
they are satisfied with the purchase or not. Drumming up clientele goes to waste when what the
customer want is not available. A wig and hair accessory line will further cater to the first-class
intimate salon atmosphere I provide to my clients. In addition, this expansion will enhance my
current clientele, as well as bring awareness for new partnerships to distribute quality hair
extensions.

Mission: Barrett’s Beauties provides a pleasurable experience for clients seeking services for
hair replacement, hair loss, protective styles, hair extensions and custom wigs. We offer a
professional, first- class exclusive atmosphere for clients to relax as they triumph over their hair
styles and concerns. We strive to deliver attainable beauty and unsurpassed customer service. 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 and salon.

Vision: Our focus is providing custom made wigs for individuals that purchase wigs and
hairpieces for aesthetic purposes and those that purchase cranial prothesis wigs. Our vision is to
expand the retail products to include a wig and hair extension line. We intend to enhance our
customers experience by retailing a wide range of hair extension products from premiere hair
extension manufacturing brands and hair installation in one setting.

Brief Product/Service Description

Rising consciousness about appearance among consumers has created immense opportunity for
the hair extensions manufacturers to offer a variety of products to consumers. Consumers prefer
hair extensions as an alternative to coloring their own hair; as a protective style to strengthen hair
follicles; and as a cover up due to hair loss or medical reasons. Barrett’s Beauties will offer a
complete line of quality human and synthetic wigs and hair accessories directly to the customer.
A complete list of the products are as follows:
 Barrett’s Beauties Boutique
Retailing human and synthetic custom-made wigs

Retailing human and synthetic lace front wigs

Retailing human and synthetic hair units

Retailing human hair bundles

Retailing synthetic hair packages

Product & Service Goals

Barrett’s Beauties will ensure that all customer will enjoy a first-class exclusive treatment while
making wig style, color , length, and hair selections. Clients are scheduled for consultation visits
for hair selection, measurements, order placements and to schedule an appointment for their hair
services provided by Barrett’s Beauties Salon’ exclusive environment. Client lab data and
purchase history will be managed through our quick book system currently in place. All services
are performed at the request and selection of the customer to ensure quality service and products.
The service goals are as follows:

Increase retail sales by adding a wig and hair accessories line for the existing clientele of
Barrett’s Beauties. The industry’s fastest-growing product segment over the past five years has
been human-hair wigs and hairpieces, although these products command premium pricing,
generally retailing between $300 and $1,500, on average. By contrast, synthetic hair wigs
generally cost between $50 and $200, on average. Alter goods in favor of market conditions:
Manufacturers that can source human hair as opposed to synthetic hair will have a competitive
advantage( IBISWorld,n.d.)

Decrease the competitive advantage held by local beauty supply stores and online sites that
sell wigs and human hair accessories. Barrett’s Beauties will offer high quality wigs and
human hair accessories as an in-house feature to achieve this goal. 100% of my clientele
purchase wigs and hair accessories at the local beauty supply or online and are not generally
satisfied with their purchase but continue to obtain installation services. This industry has no
major players with a market share of greater than 5% welcoming new entrants into the industry.
The goal is to become my clients first source when buying wigs and human hair accessories line(
IBISWorld,n.d.).

Promote and increase the brand awareness of the Barret’s Beauties wig and hair
accessories by increasing social media presence. The Wig and Hairpiece Stores industry
 Barrett’s Beauties Boutique
represents a niche product retailer within the hair-care sector. Over the five years to 2019,
industry revenue is projected to grow at an annualized rate of 4.1% to $415.2 million Strong
distribution networks: Industry players that have strong distribution networks will compete
effectively by establishing long-term relationships with downstream retailers. Companies that
already have established brand names will be competitive. ( IBISWorld,n.d.).

Barrett’s Beauties Objectives

 Learn about weaving and the various types of human hair available as well as the
differences between synthetic and human hair weaves, so that you can better serve
your customers.
 Advise customers on which hair is best for different types of extensions, wigs, and
braids.
 The company will adhere to its current salon location to purchase and store hair.
 The company will establish a website to establish an additional venue to Market and
sell hair and a channel for new customers.
 Set up wholesale accounts with manufacturers and brands of human hair.

Promote New Product

Purchase
Purchase hair
hair from
from vendors
vendors at
at
discounted rate.
discounted rate.
Grow digital presence
Retail
Retail product
product to
to existing
existing
customers
customers to include cost
to include cost and
and The company will
The company will sponsor
sponsor hair
hair Retain Existing
profit.
profit.
expos
expos in collaboration with
local
in collaboration
businesses among
with the
the Customers
local businesses among the
the
Retail
Retail hair
hair services
services for
for which
which Facebook community to
Facebook community to increase
increase The
The company
company will
will participate in
participate in
the purchased hair can
the purchased hair can be be brand awareness.
brand awareness. donating hair services, wigs
donating hair services, wigs and and
installed.
installed. hair
hair accessories
accessories toto local
local
community
community groups, homeless
groups, homeless
shelter,
shelter, senior
senior communities,
communities, andand
cancer clinics to
cancer clinics to increase
increase product
product
awareness.
awareness.
 Barrett’s Beauties Boutique

MARKET RESEARCH

The following factors are likely to contribute to the growth of the hair wigs and extension
market during the forecast period:

 Growing Demand from Consumers of African Descent

 Middle-Class Population to Lead Market Demand
 Rising demand for Beauty and Lifestyle Accessories
 Increased Demand with Social Media as Enabler
Key Market Insights
 Offers market sizing and growth prospects of the hair wigs and extension market for the
forecast period 2019–2024.
 Provides comprehensive insights on the latest industry trends, market forecast, and
growth drivers in the hair wigs and extensions market.
 Includes a detailed analysis of market growth drivers, challenges, and investment
opportunities.
 Delivers a complete overview of market segments and the regional outlook of the hair
wigs and extensions market.
Industry Trends: As the economy has improved over the five years to 2019, rising disposable
income has encouraged consumers to invest in discretionary products, which in turn boosted
demand for aesthetic wigs and hairpieces. The industry caters to two distinct consumer groups:
individuals that purchase wigs and hairpieces for aesthetic purposes and those that purchase
cranial prothesis wigs, which are for people who have lost their hair due to a medical condition
or treatment. Easy availability of such hair extensions on e-commerce platforms as well as
offline stores and high demand for hair extensions as they make the natural hair appear longer
and denser are resulting in the expansion of the global hair extensions market(MRFR, n.d.). Even
women who cannot afford the cost of human hair for their extensions will seek out artificial
alternatives that help them to complete the look that they want. Although high-end providers can
still charge upwards of $4,000 for a complete service, there are discount firms active in the
industry that offer an entire set of extensions for under $100. 34% of women say that they use
hair extensions as a part of their beauty regime regularly. 87% of those who said that they were
wearing industry products refuse to tell others about their lifestyle choice. (Final Step Marketing)

The trend of selling online has been increasing in recent years, a significant share of hair wigs
and extensions distribution takes place through specialty stores, hair salon and beauty stores, and
hair clinics (ltd, M, n.d.). The improving economy has led profit margins to increase over the
past five years. Moreover, the aging population has bolstered the industry's market. As a result of
these trends, industry revenue is expected to increase during the current period. Over the five
 Barrett’s Beauties Boutique
years to 2024, industry revenue is projected to continue growing because of improving per capita
disposable income and increasing demand for medical-use hairpieces (ibisworld.com, n.d.).

The Global Hair Extensions Market is expected to register a growth rate of 4.5% during the
forecast period. The market is expected to garner a value of approximately USD 1.2 billion by
the end of 2024.Furthermore, rising consciousness about appearance among consumers has
created immense opportunity for the hair extensions manufacturers to offer a variety of products
to consumers(ltd, M, n.d.).

North America holds the largest share in the Global Hair Extensions Market, followed by Europe
and the Asia Pacific, respectively(MRFR, n.d.).

Industry Analysis: The global hair wigs and extension market is witnessing intense competition
from various players trying to offer diverse products. The focus on product innovations will help
vendors attract new consumers and gain a larger market share. The customer demand has steered
the global hair wigs and extensions market. Manufacturers have been introducing new products
according to the prevailing fashion trends. However, this has not been able to increase the
demand for wigs and hair extensions among customers over time.
The market demand is primarily driven by new trends showcased by celebrities on social media.
India is the largest supplier of human hair, and the business is highly concentrated on the supply
side. As of now, the global hair wigs and extensions market is dominated by domestic players,
including small-scale proprietorship firms. An intensely competitive environment is expected to
emerge during the forecast period because of the immensely growing popularity of hair wigs and
extensions across the globe, thereby driving the demand for global hair wigs and extensions
market (ltd, R, & M, 2020).

PRODUCT/SERVICE DESCRIPTION

Technavio has been monitoring the hair wigs and extension market and it is poised to grow by
USD 4.01 billion during 2019-2023, progressing at a CAGR of almost 10% during the forecast
period. The shift in production landscape will offer immense growth opportunities. To make the
most of the opportunities, market vendors should focus more on the growth prospects in the fast-
growing segments, while maintaining their positions in the slow-growing segments.

Customer Identification & Description for Product/Service

 Barrett’s Beauties Boutique
There are a thousand varieties of wig and human hair accessories. Barrett’s Beauties will offer a
wide variety of styles, lengths, and color hair extensions wigs, and accessories.

Based on Cap Based on Hair Based on Fitting

Based on End Use
Type Type Type
Leisure Lace Human Hair Clip-In
Beautification Monofilament Synthetic Hair Micro Link
Color/Style Functional Human Hair Blend Glue-In
Vloume & Length Tape-In

CONSUMER/CUSTOMER IDENTIFICATION & DESCRIPTION

 Barrett’s Beauties Boutique

MARKET
SEGMENTS

Women of color between the Women of color between the Women of color age 60 and
ages of 16-40: ages of 24-60: over:

While this segment of patrons These women have completed

depends on their parents for
spending money, they also
represent the imitators of the
latest styles and trends. Most
have part time jobs or go to
school full time, so their median
income varies. However, this
groups need for staying up to date little to no time to style their own isolated lifestyle. In the Black
and in fashion will demand a
great bulk of the wig and hair
accessories offered by Barrett’s
Beauties.
college and have professional This generation of consumer lives
jobs that require them to keep up on a fix income and truly benefit
their appearance and earn up to for wigs and hair accessories as
$50,000 annually. This segment they aid in maintaining their
of women usually has ten or more appearance as well as shorten their
hours dedicated to their daily activities. Not all seniors this
profession and homelife, with age live in nursing homes or live
hair. Hair extension offer clients community they represent the
the ease of maintaining their elders and mothers of the church
hairstyle for weeks sometimes who never miss a beat when it
months. comes to putting on their Sundays
best.
 Barrett’s Beauties Boutique
Percent of customers
that buy wig and
human hair
accessories for hair
loss or medical
reasons
Sales
15%

Percent of customers
that buy wig and Percent of customers
human hair that buy wig and
accessories for human hair
protective reasons accessories for
25% aesthetic reasons
60%

Clients seeking wigs and hair extensions for aesthetic purposes: The increasing efforts to
improve physical appearances and a growing number of social media users will create lucrative
opportunities for top players operating in the global market. The consumers in the developed
market are buying wigs and extensions made of high-end human hair which are expensive than
products made of synthetic hair in the market. The increase in income levels is enabling
consumers to increase expenses on personal grooming and beauty products(Reportlinker, 2018).
Clients seeking wigs and hair extensions for protective styles, hair loss, or medical
purposes: More women are kissing the “creamy crack” (chemical relaxers) goodbye and are
proudly showing off their natural hair. Ijeoma and Uchenna Tiggs of Eye for Design Hair explain
how a woman can embrace her natural hair and extensions, “Protective styling such as wigs,
sew-in extensions, and clip-ins allow [women] to go smoothly through the transition [from
relaxed to natural hair] by allowing them to maintain their previous look or their natural look
with a full head of hair while protecting their natural hair as it grows out.” Although protective
styles are typically known for adding styling versatility to a woman’s crowning glory, they can
also be used for women suffering from medical ailments that cause hair loss or hair issues. For
the woman undergoing chemotherapy treatments or diagnosed with alopecia, protective styles
have become a way of life. “Those suffering from hair loss due to medical conditions can find
refuge in PS (protective styles), such as weaves, because of the coverage they
provide,”( Blackenterprise.com, 2018).

CURRENT COMPETITIVE SITUATION

Competitor Analysis

The competitors in this industry are major players. However, there is plenty of room for new
entrants. The major players are also online and are partnered with major salon as well as small
salon. The competitors listed below are the biggest competition for the boutique as they offer
products and services similar to the boutique. Barrett’s Beauties Boutique will use their success
 Barrett’s Beauties Boutique
and mistakes to enhance the quality of sales, customer service, location expansion, and overall to
offer the products and services they do not offer currently.

Competitors Luv Me Inc. Hair Inc. Atlanta Beauty Master

Location Luvmehair.com 2591 Piedmont Road Multiple Atlanta
Suite 1121 Locations
2841 Greenbriar Pwky
Atlanta, Ga. 30324 Atlanta, GA 30331
hairincatlanta.com beautymaster.com

Services Premium Hair Virgin Hair extensions, Hair extensions, beauty

extensions and wigs wigs, and installation products, and fashion
services retailer

Pricing Strategy High Price Fair Price List Price

Promotion Social Media Brick and mortar & Brick and mortar &
online shopping online shopping
Process Business to customer Business to business Business to Business &
Business to customer Business to customer

Type of business Hair vendor Hair services & vendor Beauty Supply

Customer Highly customer Highly customer oriented Highly customer oriented

Orientation oriented

DISTRIBUTION CHANNELS

Hair wigs and extensions are mainly

sold through online channels and
retail distribution channels. The
products are also available to end-
users through online shopping
websites as well as online direct-to-
consumer stores. The greatest part
Oders
Fullfil
placed
& Distribute
throughOrders
Facebook
through
or
the mail
in the
Record, orsalon.
Replyat &
theRepeat
salon. of being and entrepreneur is that
one can set the pace and structure.
The company will have the ability
 Barrett’s Beauties Boutique
to maintain control over the number of wigs and hair line accessories orders as well as hair
installation appointments. This strategy also provides a steady pace when the need arises for
hiring new stylist and staff and implementing budgets.

Barrett’s Beauties Distribution Plan

As a Master Cosmetologist I have the ability to register online as a wholesale supplier of wig
and hair accessories. The clientele currently visiting the boutique ensures a network of people to
supply my products to. Facebook will act as the webpage to promote the retail line and collect
customer orders. Once an order is placed the product will be mailed to the customer using the
United States Postal Service or the customer can wait to receive their order at their next
scheduled appointment. In addition to the orders placed on Facebook clients can also order the
hair at the boutique. The Salon is equipped to take all forms of payment. The salon has a PayPal
account, Square account and scanner, Cash App, we will also take cash and checks for those
customers that have their personal info stored in the salon’s database. Barrett’s Beauties will
compare the activity times for each day to find hidden engagement opportunities. Because all
sales will be made through Barrett’s beauties Boutique the account ledger will reflect it the sale
was made thorough Facebook and those that take place from in house sales. The Product will be
mailed to the client, or they can redeem the product at their next scheduled visit.
SWOT ANALYSIS

Strengths
o 100% of the patrons that visit Barrett’s Beauties Boutique salon purchase hair extensions
and hair installation services.
o Barrett’s Beauties Hair line will only sell supreme quality wigs and hair accessories.
o There are no technology limitations that may delay the development of the new hair line.
Weaknesses
o Retail sales in the salon currently stand at 2% of total revenue.
o 60% of the current clients purchase wigs and hair accessories from local beauty supply
stores or other vendors.
Converting the Weaknesses to Strengths
o We know we do not 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.
Opportunities
o The startup capital and inventory to develop the hair extension line are minimum.
o While there are thousands of hair extension merchants currently in place, the barriers for
entry of the new product into the hair industry market remain favorable.
o Atlanta is the epicenter of hair extensions, wigs, and weave.
 Barrett’s Beauties Boutique
Threats
o The competition has mass amounts of inventory and an established online presence.
o The company will provide better quality hair products than the local beauty supply store,
however the small firm cannot compete with their many locations and habitual consumer
behavior.
Converting the Threats to Opportunities
o There is an emerging trend of promoting wigs and hair extensions on social media
platforms. The new product line eliminates aggressive selling and will refine the personal
selling techniques to gain clients wants and need that are unknown by the competitor.
MARKETING STRATEGIES

Positioning: The rising number of middle-class populations that are emerging as the next
potential customers for the beauty industry is driving the growth of the global hair wigs and
extension market. Our strategy focuses efforts on one or more remaining demand pockets or
market niches. Currently, the clientele of Barrett’s Beauties is the main market for retailing the
wig and hair accessories. Creating a bigger
presence online ensures new customers
outside of my area that will purchase wig
and hair accessories whether they schedule
a visit to the salon or not.

Product: Barrett’s Beauties will offer a

complete line of quality human and
synthetic wigs and hair accessories directly
to the customer.

Pricing: We will strive to produce quality hair extensions whose prices are at the same rate of
that of our competitors. However, to attract more customers to our hair extensions, we intend to
set the prices on our products a bit lower than our competitors for the first few months.

• Frequency discounts—Some media may offer lower rates to businesses that commit to a certain
amount of advertising with them.
• Remnants and regional editions—Regional advertising space in magazines is often unsold and can,
therefore, be purchased at a reduced rate.
• Barter—Some businesses may be able to offer products and services in return for reduced advertising
rates.
• Seasonal discounts—Many media reduce the cost of advertising with them during certain parts of the
year.
• Cost discounts—Some media, especially smaller outfits, are willing to offer discounts to those
businesses that pay for their advertising in cash(Inc., -0001).
Place: Barrett’s Beauties Boutique is located and operated in my home eliminating the need for
overhead rent and utilities. Barrett’s Beauty’s has operated for almost two years and offer
services to an upscale private selection clientele. The patrons of Barrett’s Beauty can be defined
 Barrett’s Beauties Boutique
as clients who have extreme hair issues that may cause embarrassment in an ordinary public hair
salon.

COMMUNICATION STRATEGIES

Advertising: Facebook allow users to add as much information about their business such as
address, contact information, website, business hours, products, and to add profile and cover
photos that reflect what the business does (Driver, 2018). How to videos on hair selection and
install tips; before and after photo galleries and customer testimonies can all be uploaded to the
account for more exposure. This feature will intrigue new customers looking for our unique
services without paying advertisement fees. As 94% of Facebook’s users access Facebook via
the mobile app (Lua, 2020), my customers will have an unlimited access to my services and
products.
Communication Plan: Social Media Content Planning: Barrett’s Beauties will consider
keyword research and competitive research to help brainstorm content ideas that will interest
your target audience. The business will also look to what other businesses in the industry are
doing to drive engagement on social media.
Great Social Content: Barrett’s Beauties will stay consistent with other areas of online
marketing, content reigns supreme when it comes to social media marketing. Posting regularly
and offering truly valuable information that ideal customers will find helpful and interesting.
Public Relations: A Consistent Brand Image: Using Facebook for marketing enables the
business to project our brand image across a variety of different social media platforms. Once
you build a loyal following on social media, you will be able to post all your new content and
make sure your readers can find new stuff right away. (Social Media Marketing for Businesses,
n.d.).
Promotion: Sharing Curated Links: Barrett’s Beauties will also use the platform as an
opportunity to link to outside articles as well. Curating and linking to outside sources provide
valuable information my target audience will enjoy as well as, improve trust and reliability, and
may even get some links in return.
The Entrepreneur and Small Business Problem Solver, author William Cohen put together a list
of "special negotiation possibilities and discounts" that can be helpful to small businesses in
maximizing their advertising dollar:

MARKETING BUDGET

12 Month Financial Analysis:

 Barrett’s Beauties Boutique
Description Explanation
Start-up Cost
Inventory $1,500 500 bundles of premium hair @ $30 per bundle
Supplies& Packing $200 Hair bags, envelops
Total $1,700
Expenses
Tools & Software $100 Cost covers three years of tools and software
Marketing and $405 Facebook ads and social media campaigns
Advertisement
License & registration $200 Licenses for business
License for hair vendor
Delivery $0 The fee for delivery will roll over to the customer as they make orders online. There
will be no fee to pick up products at the boutique.
Miscellaneous $1,000 This will cover any unexpected cost, refunds, or other problems that may arise.
Total $1,705
Total $3,405 startup cost& expenses
Cost of Goods Sold example

Variable Costs Fixed Cost

12” Malaysian Bundle $26.99 Hosting Price ($19.99/30 days) .67

14” Malaysian Bundle $31.99 Total cost per order $101.39

16” Malaysian Bundle $37.99 I plan on making a 25% profit margin

Shipping $2.00 $101.39 * 0.25 = $25.34( my profit from

order)
Packaging ($175/100 bags) $1.75
$101.39 + $25.34 = 126.74 ( average order
cost
 Barrett’s Beauties Boutique

Barrett's Beauties Marketing Budget

Content Creation Software & Tools Paid Advertising

Paid Partnerships Community Management Campaings and Promotions

Barrett's Beauties Annual Social Media Budget

$100.00
$80.00
$60.00
$40.00
November
$20.00 September
July
$-
May
on ls
eati o g March
Cr To sin ps t January
en
t nd rti hi en
nt ea v e
er
s m ns
ar d
rtn
e io
Co A a ag ot
ftw id P an om
So Pa id M Pr
Pa ity &
un ig
n
m
m pa
Co Ca
m

January February March April May June

July August September October November December
 Barrett’s Beauties Boutique

Expense Projections

Marketing expenses

Inventory Cost

Software and Tools

Licences and Fees

Miscellaneous

$- $1,000.00 $2,000.00 $3,000.00 $4,000.00 $5,000.00 $6,000.00 $7,000.00

Year 1 Year 2 Year 3

Expense projections
Total incorporation fees for registering the business as well as other legalities in the United
States of America – $100
Obtaining licenses and permits -$100
Cost of software and tools – $100
Cost of start-up inventory (packaging materials, raw materials) – $1,500
Marketing expenses– $405
Miscellaneous- -1000 this will cover any unexpected cost or problems that may arise.

IMPLEMENTATION STRATEGY

Media plan
 Barrett’s Beauties Boutique
Barrett’s Beauties will expand its brand and retail sales to includes online consumers as well as
carter to the existing patrons. The company will seek to expand its presence on the internet by
creating social media aimed at selling the new hair line and promoting the exclusive salon
atmosphere. The firm will also create a Facebook account to make regular posts on new hair
shipments, hair installation tips, as well as take some suggestions from the viewers demands. The
boutique has one sole owner and operator and thus the owner will adhere to a continuity schedule
that will allow time for servicing and retaining customers, selling wigs and hair accessories,
making daily posts, maintain and promoting the business through Facebook.

Action Plan and/or Next Steps

Business Name Availability Check: Completed

Business Registration: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
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 Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Creating Official Website for the Company: In Progress
Creating Awareness for the business both online and around the community: In Progress
Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
Weekly Schedule for Barrett’s Beauties

Sunday Monday Tuesday Wednesday Thursday Friday Saturday

 Barrett’s Beauties Boutique

Schedule Legend
Service customers

Post Hair variety Videos

Post Live Demos and Q&A

Post Before/After Photos

Post Hairstyle Videos and Photos

Post How to Videos

Ship and Deliver orders

Measure viewers

Prepare content

Schedule appointments and Process orders

Make Adjustment to plans and strategies

Assignments:
I am the sole owner and operator of the salon and hair boutique and therefore will be responsible
for all duties. For the past two years I have successfully managed my clientele and their many
needs. I will use the same determination for success to embark on the new expansion as well.
The current location of the salon deems it unnecessary to hire more stylist and will instead use
the retail expansion as an additional income to eventually expand to a retail space.
Chief Executive Officer-(self)
Drafts the overall strategic vision on how the company would be run
Meets and negotiates with customers on behalf of the company
Works with the accountant to draft an overall budget on behalf of the company
Sales and Marketing Team-(self)
Creates effective marketing and sales strategies intended to attract as well as retain customers for
Barrett’s Beauties Boutique
Develops and implements a workable marketing budget in line with the company’s policies
Helps to increase the sales of hair extensions
Purchasing Manager-(self)
Responsible for sourcing for reliable vendors and placing orders on behalf of Barrett’s Beauties Boutique
 Barrett’s Beauties Boutique
Ensures that all orders and contracts with vendors are properly negotiated, updated, and reviewed on
behalf of the company
Is updated constantly on market trends and uses the information to make correct analysis on behalf of the
company
Store Manager-(self)
Ensures that all brands of the hair extensions are in stock
Reports products that are out of stock to the purchasing manager
Ensures that the store is well ventilated and secured always

EVALUATION METHOD(S)

Tracking Format Preferences Over the past few years, there has been a shift toward more
visual content. Facebook fans were ignoring most link posts and going right for image or video
posts, so many social media managers responded by focusing more on entertaining visual content
to keep engagement up. To combat the high amount of low-value visual content being published
and push more valuable news feed content, Facebook now previews larger images for link posts.
This has helped boost engagement for link posts while making it easier for managers to drive
more traffic from the network to their websites and blogs. Barrett’s Beauties Boutique will use
our posts to reveal connections we may have missed. By going through our top-performing posts
in the page’s entire history the firm can start to identify some qualitative factors it may have not
thought about before (Bal, 2019).

Crisis Management Plan: Tracking Competitors: It is always important to keep an eye on

competitors—they can provide valuable data for keyword research and other social media
marketing insight(Social Media Marketing for Businesses, n.d.)! If our competitors are using a
certain social media marketing channel or technique that seems to be working for them, Barrett’s
Beauties will be considering doing the same thing, but do it better.

Measuring Success with Analytics: You cannot determine the success of your social media
marketing strategies without tracking data. Google Analytics can be used as a great social media
marketing tool that will help Barrett’s Beauties to measure our most triumphant social media
marketing techniques, as well as determine which strategies are better off abandoned. Barrett’s
 Barrett’s Beauties Boutique
Beauties will attach tracking tags to our social media marketing campaigns so that the firm can
properly monitor them.

REFERENCES, BIBLIOGRAPHY

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 Barrett’s Beauties Boutique
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 Barrett’s Beauties Boutique
Industry Market Research, Reports, and Statistics. (n.d.). Retrieved from
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2024. Retrieved from https://www.researchandmarkets.com/reports/4847031/hair-wigs-and-
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 Barrett’s Beauties Boutique
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 Barrett’s Beauties Boutique

APPENDICES

Types of installation Services offered by Barrett’s Beauties Boutique

Quick Weave

Quick Weave for Men

 Barrett’s Beauties Boutique

Box Braids

Wig Installation
 Barrett’s Beauties Boutique

Videos on how to become Hair Distributor

Barrett’s Beauties Boutique