BUSINESS PLAN

1. Name of Business
luxury hairs

2. Founder of Business

Executive Summary
3. Business goal
I sell good quality luxury human hairs.
I make wigs, style frontals and revamp customers’ hairs/wigs.

4. Goal and Vision

 To register my business with CAC
 To provide quality luxury hairs at affordable prices
 To build confidence in women
 To have/ open a walk-in store with time
 To expand my business within other states
 To be known worldwide for providing luxury affordable human hairs
 To distribute hairs to wholesalers
 To become one of the biggest known importer of human hairs

5. Product and Services description and differentiation

I do not only sell luxury hairs, I also make them affordable while making sure I offer good
quality only. I also fix, install, and style frontals and closures as well as revamping hairs.
This is an advantage to me because most hair vendors focus on selling hairs and do not
even provide good quality.

6. Target Market
My target market consists of working class women, business owners and students.

7. Marketing Plan
I plan to reach out to my customers’ offline and online.
Online through social media sponsored ads on my business page.
Running sales on instagram and tiktok by making clear pictures and videos.
Offline: by going to offices, hostels and marketing the hairs.
8. Current Financial state
The money on ground is five hundred thousand naira (N500, 000). I already used two
hundred thousand naira to purchase trusted and reliable Vietnam contacts.
So right now I have the sum of three hundred thousand naira (N300, 000) left.

9. Projected financial state

With hard work and God’s grace, I intend to make more than a million naira (N1, 000,
000)

10. Request
I humbly request for the sum of seven hundred thousand naira (N700, 000)

11. The team

I currently run the business alone. I hope to expand and open a walk-in store as well as
employing staff that I would train on styling and installation the grace of God.

12. Description of products and services

One of the major problems the hair business is facing in Nigeria is the inability of hair
vendors to know the right products to buy.
Another major challenge is the selling of fake or low quality hairs to customers. Another
problem is not having the right hair supplier. Another problem is not having in-depth
knowledge of the hair business.
After knowing all these problems, I have taken my time to take courses and have done
various researches and have acquired a vast knowledge about the hair business, various
types and kinds of hairs. I have also been able to get reliable and trusted Vietnam who
guarantees me of good quality. I have also been able to calculate the dollar rate and
how to make good profit and have established a good relationship with my supplier.

13. Business Objectives

My main business objective is to make sales and have turn overs and also to make
luxury hairs affordable (every woman wants to wear or own a good quality hair but
some of them can’t afford it). My main objective is to make these hairs affordable and
available for them while still making profit. I am aiming for 10-17 potential sales at the
end of the month.

14. Understanding the market

 I have taken my time to work and study a lot of big hair vendors and have observed
their pitfalls and their success. One major problem is keeping to time of delivery and I
hope to provide good and prompt delivery service for my customers. Another problem
they encounter is bad customer service. I aim to establish a good relationship with my
customers.
Another issue they face is buying hairs without a guarantee and return policy from the
hair supplier. I have been able to get two big manufacturing hair vendors in Vietnam and
I have tested by buying samples of hairs from them and was given guarantee and return
policy. The hairs are of good quality.
No customer would gladly waste money or get products that do not meet expectations
no matter how big or small they spent in purchasing the hair. So, I aim to provide the
best quality at affordable prices thereby earning the trust of my customers and building
a customer base (because people tend to go where they get good value for their
money).I also aim to provide good packaging for my brand because ladies get attracted
to nice things and the way I package my brand is actually a representation of what my
brand stands for and who the brand is.

15. Funding Overview

Money at hand = N300, 000
Money needed = N700, 000

Money needed to buy hairs from supplier = N500, 000

Business Registration (CAC) = N30, 000
Ring light= N35, 000
Packaging for proper bags = N35, 000
Social media promotions = N20, 000
Opening of business account with UBA

I can make N50, 000 – N100, 000 profits from selling one hair. For example, my supplier
gives me a 14 inches 200 gram bone straight and closure for N55, 800 and I sell for N89,
000 or N90, 000 with a profit of N33, 200 or N34,200.

My supplier gives me a 24 inches 300 gram double drawn and closure for N146, 400 and
I sell for N264, 000 making a profit of N120, 000.

For pixie curls, waving hairs or curly hairs I can make a profit of N45, 000 to N50, 000
and above.
 I would offer installment payment for people who really want to buy but can’t afford to
pay once (2 – 4 times installment payments). I have been able to build a reasonable
amount of customer base and also built trust but the problem I am faced with is that
most of them especially the ones that were referred to me insist on seeing what they
are buying to ensure that they are of good quality. This is the reason why I need this
loan to enable me buy hairs to sell.
My supplier has offered me a return policy and guarantee on each hair and so far the
samples have been great. I bought the contact of my suppliers from two big hair
vendors and all their hairs are of good quality.

16. Suppliers
Two Vietnam suppliers who deal strictly on raw hairs and virgin hairs(luxury hairs).They
have a manufacturing company(address known) and they have a website and certificate
of business registrations which I have softcopies of. I have taken my time to a
background check of them and have gotten good reviews from clients. We speak on
video calls always.