cosmetic business plan in nigeria

How To Start Cosmetic Business In Nigeria 2024: A Step By Step Guide

Cosmetics are an important part of our daily lives, so it’s no surprise that the cosmetic industry is thriving around the world, including in Nigeria. The Nigerian cosmetic industry has grown significantly over the years, with an increasing number of people wanting to look and feel good. If done correctly, starting a cosmetic business in Nigeria can be a lucrative venture. This article will walk you through the process of starting a cosmetic business in Nigeria.

Table of Contents

What is Cosmetic Business?

A cosmetic business manufactures, distributes, and sells personal care and beauty products. The business may manufacture makeup, skincare, hair care, and personal care products. Cosmetic businesses can be started on a small or large scale, depending on the vision and financial capability of the entrepreneur.

Is Cosmetic Business Profitable in Nigeria?

Nigeria’s cosmetics industry is profitable, with a market value of more than $2 billion. The beauty industry has continued to expand as more people become interested in beauty and personal care products. The cosmetics market in Nigeria is massive, and with the right business strategies, entrepreneurs can make substantial profits.

Cost of starting cosmetic business in Nigeria

The cost of launching a cosmetics business in Nigeria varies according to the size of the company. A small-scale cosmetic business can be launched with as little as N50,000, whereas a large-scale enterprise can cost millions of Naira. The cost of launching a cosmetics business is determined by factors such as product type, marketing strategies, and distribution channels.

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How To Start A Cosmetic Business in Nigeria:

Conduct market research.

Conducting market research is the first step in starting a cosmetic business in Nigeria. Understanding the market size, competition, target customers, and consumer preferences is required. This data will assist you in identifying market gaps and developing products that meet the needs of your target customers.

Develop a business plan

A cosmetic business plan is essential for any type of business, including cosmetics. A cosmetic business plan is not only needed for raising funds from the bank or investors, it’s an essential tool that serves as a roadmap for you to achieve your business goals.

A cosmetics business plan should outline the company’s vision, mission, and goals. Details such as the products to be sold, marketing strategies, pricing, and distribution channels should also be included. A well-crafted business plan will guide you through the entire process of launching and operating your cosmetics company.

A complete business plan should include a robust financial model and the projections should be realistic and also based on the current data.

Check below for our business plans for cosmetics:

Cosmetic Manufacturing Business Plan

Cosmetic Importation Business Plan

If you need a unique and custom made business plan for your business, you can get in touch with us and we will develop a business plan that is tailored to your business needs and it will include the financial projections. You can check our custom-made business plan package here.

Register your Cosmetics Business WIth CAC

Before launching your vibrant cosmetics into the Nigerian market, don’t underestimate the critical step of registering your business with the Corporate Affairs Commission (CAC). It’s much more than a formality; it’s a powerful foundation for success, paving the way for captivating benefits and safeguarding your venture against potential pitfalls.

The Benefits of Registering Your Cosmetics Business With CAC

• Formal bank accounts:  Securely manage your finances through dedicated business accounts, essential for professional transactions and building trust with partners.
• Access to grants and funding:  Attract investors and qualify for financial support programs readily available to registered businesses.
• Enhanced brand image:  Project a professional and trustworthy image, boosting customer confidence and brand perception.
• Shield Yourself from Legal Headaches: Registration acts as a protective shield, separating your assets from business liabilities. In case of unforeseen legal issues, your finances remain secure.
• Embrace Growth with Open Arms: As your business flourishes, CAC registration empowers you to expand operations, hire employees, and attract larger investments with greater ease.

After registering your business, it’s good to stay compliant: Renew your registration annually by filing an annual return to maintain its validity and legal benefits.

If you are considering registering your business with the Corporate Affairs Commission (CAC) of Nigeria and you are looking for an expert to help you register your business, look no further. You are in the right place. Get in touch with us and we will help you to register your business within a few days. Check out our business registration services here

Secure a good Location

Your cosmetic business’s location is critical to its success. You must select a location that is convenient for your target customers. In addition, the location should be visible and appealing to potential customers. The cost of renting or purchasing a location is determined by the area and size of the store.

Partner with Reputable suppliers

As the owner of a cosmetics company, you must source your products from reputable suppliers. You must ensure that your suppliers provide high-quality products that meet regulatory requirements. Working with reputable suppliers will help you build a loyal customer base and improve your company’s reputation.

Related Post: 50 Business Opportunities you can start with little capital and make huge profits

Promote your Business

Promotion is critical to the success of your cosmetic business. You must raise product awareness through various marketing strategies such as social media, advertising, and word of mouth. You can also provide discounts and promotions to attract new customers and keep current ones.

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How to start a cosmetics business in Nigeria (10 practical steps)

• by EMMA ONWUKA
• March 20, 2023 March 20, 2023
• 78 Comments

This article is designed to give you an in-depth practical knowledge of how to start a cosmetics business in Nigeria . A cosmetic, beauty and fragrance store is an easy-to-start business and it is not so capital intensive, especially if you choose to start on a small scale. Getting the right brands of cosmetics that people would want to buy and good stock keeping are the secrets of running a retail cosmetics business.

The cosmetics and beauty industry is a flourishing business because everyone wants to look good. Consequently; cosmetics and skin care products are always in high demand — even during economic recessions. Just like food, everyone uses cosmetics; from bathing soap, brushing teeth, oiling the hair, creaming the body, to applying a deodorant and the rest.

Table of Contents

Read also: How to start a phone accessories business in Nigeria

What are cosmetics? Cosmetics are basically a variety of body care products such as; toothpaste, body wash, body cream, hair relaxer, hair spray, hair cream (and all other hair products), deodorants, and beauty products such as; eye liner, lipstick, lip balm, face powder, nail polish, mascara, etc.

Cosmetics business is a highly competitive business. But, dealing on original and quality cosmetic products will give you competitive advantage.  Use barcode scanner to screen and convince your customers of the originality of your cosmetics products. This is the best way to win the heart of many customers

Starting a cosmetics business in Nigeria is lucrative and exciting. You can either choose to start-up this business on a small or large scale, it all depends on the amount of capital you have with you.

You don’t need to wait until you have large capital, you can start small and expand it into a profitable venture your desire. So, if you’re ready to profit from the huge demand of cosmetic products; follow these steps to start a cosmetics business in Nigeria.

Read Also : How to start  a restaurant business in Nigeria (with costs & requirements)

How to start a cosmetics business in Nigeria

Get information about cosmetics business.

Getting started with cosmetics business, right? It is important that you have a clear knowledge of the modus operandi of cosmetics business. You can’t just jump in feet first, without first knowing about the beauty sector. Look around you for successful cosmetics business owners in your area. Get familiar with them, study them; study their marketing strategies, their staffing and also their product selection. Learn their sales tactics, how they attract customers and how they manage their orders. Find out who their suppliers are; their pricing system. Learn as much as you can.

WRITE A BUSINESS PLAN

Prepare a detailed business plan for your cosmetics business. Most people think business plans are generally unnecessary and should only be prepared for a bigger more complicated entrepreneurial pursuit; this is wrong. One of major reasons businesses fail today is because they never have a plan. The global market for cosmetic products grows every single year. Since the last decade the growth has been on geometric progression. The growth rate for cosmetics has never dropped below 3%. This means that each year; for the past ten years; additionally customers purchases one cosmetic product or the other. Consequently, any cosmetics business that fails, failed to plan.

Your business plan should include an overview of your business and other specific details such as;

• The missions and objectives of your business
• The startup cost
• Your target market
• Your financial projections for the first, second and third year.
• A competitor analysis
• Your marketing plan

If you’re not sure how to go about it yourself; you can get some kind of professional help to prepare an expertly organized and professional business plan for your cosmetics business plan in Nigeria. We can always help you to prepare a winning cosmetics business plan , anytime any moment if call on us.

SELECT BEST SELLING COSMETIC PRODUCTS

Cosmetics business is a broad one, so you’ll need to settle into a particular product line or group of product line which are fast selling . For example, you could decide to go into the skin care and make up industry. Here are different varieties of cosmetic products line you can be dealing on;

• Make up products. There’s something extremely cool about having your own make up business; perhaps the satisfaction you get as a make-up expert. And just being in a space where you represent beauty to people, this is the appeal of dealing in beauty products. The cosmetics industry is growing every single year, and the make-up cosmetics industry is currently an $11 billion industry! So claim your share. These are some recognized make-up brands in Nigeria; Mary Kay, Black Opal, Milani, clinique and many others.
• Hair care products. This is comprised of a whole range of hair products such as, hair attachments, hair weave-ons, hair extensions mostly used by females. Hair relaxers, treatments, hair sprays, spray gel, hair cream, shampoo, conditioners and many others.
• Skin care products. This includes skin products for different purposes such as, exfoliation, body toning, moisturizing, age defying and so on.
• Toiletry and laundry products. Personal products like toiletries and laundry products fall into this category. Examples of such products are; Toothpaste, bath soap, toilet paper, deodorant, body perfumes, etc.

Once you settle into a particular niche, you can then proceed to write a business plan.

FIND A GOOD LOCATION FOR YOUR COSMETIC BUSINESS

Where you locate your business has an overall impact on its success. Ensure that you lease a cosmetics shop in a strategic location where it can easily be accessible; preferably in an open market. Basically, the best place to set up shop is in a saturated and highly commercial region of the city. However, if you’re working from home , you can have the cosmetics store set up near your home which allows you display your products and hosts customers and guests. Ideally, you should set up your shop in an affluent territory zone where income earners is high, prompting more sales from customers who can afford to look as good as they want. When deciding on the location for your business; ensure these factors are closely observed

• Visibility from the street
• Availability of parking space
• Ease of access
• Constant and dependable power supply
• Flow of traffic and commuters

Read also : How to Start a Computer Center Busine

REGISTER YOUR COSMETIC BRAND NAME

Get your business name registered with the corporate affairs commission of Nigeria (CAC). You can visit any CAC office close to you or visit the company official website http.cac.gov.ng for more information or see article on this how to register your business with the corporate affairs commission in Nigeria . Getting your business registered is a way of telling the government that your business exists and the business is owned by you. Customers have more trust in registered business than businesses which are not. So, consider registering your cosmetic business. Once registered; you will become a legal entity in Nigeria.

FURNISH , DESIGN AND STYLE YOUR SHOP

Your style and design can influence how customers feel about your business. If you’re not sure how to go about it; just look at other cosmetics shops around your location for inspiration. Take your time when choosing your style; make it appealing. And remember you’ll also need well decorated business cards for your business. Seek the help of a good designer to help you create best quality cards. You have to appear as professional as possible; and still exhibit a flair for style.

GET STARTUP  CAPITAL READY

You startup capital should cover cost of renting a shop, cost of furnishing and costs of acquiring your merchandise. The cost can run up to N350,000. Of course you’ll definitely run into other costs on the way, but this should cover the basics. You should be able include start up costs and recurring expenses in your plan. Some costs to consider when planning your budget include;

• Interior decor
• Power supply
• Marketing and advertisements
• Company registration

You’ll encounter more needs but this list should get you started.

GET YOUR SUPPLIERS

I recommend you team up with cosmetics distributors so as to maximize your profits. There are so many cosmetics distributors in places like; the Mushin market, Balogun market in Lagos island, Dosunmu market also in Lagos Island, the trade fair market along Ibadan express way, Bicu shop at Apongbon street Lagos Island, Dupe cosmetics at Moshalashi street in Lagos Island, with Kudi cosmetics in Balogun market Lagos Island. Outside Lagos, you can also find distributors of cosmetics in places like; Ariaria market in Aba, Onitsha market in Anambra, amongst others.

Of course you could also explore the possibility of going into cosmetics distributorship business for yourself, and become a distributor of cosmetics products. This way, you’ll be buying your merchandise directly from the manufacturing companies; both locally and internationally. Cool right? Yeah I think so too. Buying directly from the manufacturing companies may require you to have a large amount of start-up capital, so if you’re up to it, why not?  Your earning potential is sure going to double.

DEVISE A MARKETING STRATEGY

  Now it’s time to get your elevator pitch ready, yeah? While you await the delivery of your merchandise, start building a rigorous marketing strategy in place. The best way is by word of mouth; so always make sure you’ve got the perfect elevator pitch ready — just in case. An elevator pitch is a 3 – 5 minutes marketing speech. So, here’s the right time to make lasting impression — throw in all you got!

Reach into your network base and spread the word. Never take networking for granted. So go on and network — furiously. Have a great feedback system in place. Establish a great relationship with your customers. Build a blossoming customer relationship; you’re not in business solely for profits, the idea is to be able to satisfy your customers by improving their lives through your business.

TAKE YOUR COSMETIC BUSINESS TO THE WEB

Internet has become a global village; with over 90% of population online. So, you need to get your business online! When choosing your products, it will be good you determine the demographics of your target customers. With this data, you can then optimize your online strategy to reach these select demographics.

How to develop your online business strategy

  Create a website: Create a website that is user – friendly and has simple, clear and readable features both on PCs and androids. Here are tips for opening a website for your cosmetics business;

• It should be easily navigable
• Make it easy to understand; with clear and bold content
• Make sure that your site loads fast — very important to note
• It should operate optimally on different interface
• It should be mobile friendly
• Must be user friendly
• Email marketing: Next, leverage email marketing to optimize sales and engage customers
• Social media platforms: Engage all social media platforms to grow your online network. Have accounts with social media platforms like; Facebook, Instagram, LinkedIn, Twitter and Pinterest.

Leverage all these social media platforms; particularly Facebook and Instagram to promote your business. For example, if you’re into beauty products; it makes sense to maximize your Instagram accounts, and also you have to open a Facebook page for your business. And make sure that your Facebook page is constantly being updated; at least twice a week; this way, you can stay relevant online.

• Set up a blog: While this might sound cliché; you should probably seriously consider setting up a blog for your cosmetics business. A professional blog will open you up to a larger audience. So set up a blog for your business; this way, you can better engage your audience through posting quality and rich content. It allows for a two – way interaction between you and your audience. The major key to running a successful blog is; engaging your audience.

Use your blog to engage your customers and audience  

You can leverage on blogging to engage your customer. It’s quite simple! Follow these tips:

• Post quality and relevant content relating to cosmetic business every day.
• Give out freebies on your blog, like say; a free eBook, gifts, jumbo offers, an invitation to window shop, and many other exciting stuff.
• Be interactive
• Always respond to messages
• Be accessible
• Be exciting. Be fun
• Be creative
• Work with a great blogging team

S ecret to success in Cosmetics business

Cosmetics business is a highly competitive business. But, dealing on original and quality cosmetic products will give you competitive advantage.  Use barcode scanner to screen and convince your customers of the originality of your cosmetics products. This is the best way to win the heart many customers.

If you follow these steps above, I’m pretty sure you will start and run successful cosmetics business in Nigeria. I just hope this article will help to set you on the right path

78 thoughts on “How to start a cosmetics business in Nigeria (10 practical steps)”

Good day sir, i really appreciate your post, please I’ll need a guidelines on how to venture in cosmetic like creams and toiletries products, maybe medium scales. thank you in anticipation as i look forward in reading from you. Best regards.

Thank you very much sir,I felt so relieved after going through the article,you spoke nicely about comestics, I’ve to take my fesibility study very well so I can arrive at my destination

I’m glad you find the article very helpful

TNX am grateful

thank you so much i really enjoy reading this article… i am about to start a cosmetic business too infact i have gotten a shop and but i have been scared all a sudden as i don’t even know what step to take again and if the amount i have will be enough for the business but after reading this article i feel relieved. please do you know any authentic cosmetics distribution?

Do you mean cosmetics distributors?

I read your article and it is really insightful thanks. Please i am also planning to go into cosmetic business and i need help in drafting a business plan. I would really appreciate a template that will serve as a guide

Okay, we will look into that.

Please I want to start a cosmetics business but I don’t know how to go about it, a wholesale shop where I can buy for retail, I’m in portharcourt .

What else do you want to know?

I deal on wholesale cosmetics in trade fair Lagos. U can send me a mail

Hi Christy, I’m interested in buying from you at whole prices. Where are you in trade fair and how can I get you?

Sir I’ve gone through your write-up sir but you never made mention of perfumes, please is perfumes not part of cosmetic products? Bcuz thats the area I really wanted to venture into. Thanks.

It is part of it but you can selling only perform if you dealing on cosmetics

Sir please is it must that you need to go for training before you start up the cosmetic business

It’s not must but necessary

Thanks a lot for this information, I need advice on how where to set up a cosmetics business and the amount that can get it started at this present economy

Your article is very helpful to me God bless you more and more, I have a strong passion for cusmetic business, I have a million to start up the business but I haven’t gone for training what can I do?

Get train and begin immediately

Am staying inside garage but need to start up cosmetic business, the amount I own now is hundred thousand can I able to start with small capital?

You’ll need to increase your budget to atleast five hundred thousand naira for a low scale cosmetics business

Thanks for the information… Please am a hair stylist and I want to venture into cosmetic business, how much will it coste to start. Like getting a shop and equipment it small scale or medium sha. Please I need an explanation. Thanks

Thank you so much enjoyed all the post and the advice you gave to everyone , I also want to go into business but I’m in Local environment

I really appreciate reading this sir, please I want to go into beauty shop generally, like how much will I start with? I will like to go into cosmetic, hair and d likes. I don’t know anything yet about it how do I go about it . Thanks so much

How much can start a huge retail cosmetics shop sir

For wholesale cosmetics business, you need roughly 3 Million and above

Sir you’ve done so much well for us we appreciate. But is it not better to start on the business and make it grow rather than starting it big with millions?

Am in PHC which market will you advise I go to get the comestics product that is of good quality

PHC, do you mean PortHarcourt?

Please sir, with the present economy in Nigeria now 2022 how much do one need to start up this comestics business cos I have a passion for it taken into consideration all aspects of it eg hair extensions,skin care ect thanks

It depends on your entering level- large scale, small scale or low scale?

Please I’m a hair dealer online but presently someone asked me to cost the requirements to get a shop, set it up and purchasing of goods (total breakdown of the business) but I want to add cosmetics to the business, I don’t really have much idea on cosmetics. Please I need advice and help..Thanks

Do you need the cost of starting a cosmetic business in conjunction human hair business? I want to know the exact of what you need from us.

Good evening sir…… Yes, I want to know the cost of starting a cosmetic business in conjunction with human hair business in Nigeria today thank you sir

I really enjoyed this article sir God bless you!

I have a capital of close to a million to start off my cosmetic line. I saw a shop, good location but the issue is, there are so many cosmetic shops around me if I should take the store. I really like the location cos it’s busy. So am looking at up-ing my game to stand out. So should I take the store or find somewhere else? I have a full knowledge on the skincare n makeup industry, learnt it for 2 years. So what’s your advice?

Take the shop and start from there, that would be the best. You have an advantage over your competitors. However, you can relocate in future if need be.

I really enjoyed this article. Please what knowledge do I need before starting my own business?

Apprenticeship for at least 3months – 1 year

Good morning sir. Am an aspiring makeup artist. i want to be selling makeup tools or equipment apart from doing makeup on people. But the thing is, I want to make the product myself instead of going to buy from people. Is it possible?

100% Possible!

I want to start my wholesale/retail cosmetics business where can i get goods from? Good products.

You can buy cosmetics in wholesale from Lagos, Aba etc

Thanks sir your article was a blessing please I want to know how to contact suppliers of organic items for cream formulator that sell wholesale price thanks

I’m in a rural area in Delta state and I intend starting cosmetics business and combining it with clothings, wristwatches and bags. Can I start the cosmetics with two hundred thousand? Do you have any reliable wholesaler in Onitsha who sells original cosmetics?

That’s too small. You need to increase your budget to at least five hundred thousand naira. In terms of reliable wholesaler, you need to go there yourself and ask questions while you’re there.

I want to start my own homemade lip gloss line do I use the same process in starting in it

Yes, more like.

Sooo helpful…thanks a lot

I found this information very educative, thanks so much. Please how do I get my beauty cosmetics supplies in Abuja?

You can get beauty cosmetics supplies from Lagos, Dubai, Cotonou, Aba etc. depending if you need foreign or Nigerian made cosmetics. If you need contacts, do let us know.

Yes I need sir

I need contact. Thank you.

Yes I need there phone number sir

I need contact sir

Am in nsukka in Enugu state and i really want to start up a cosmetic biz but I need to get in touch with wholesaler to get adequate information on how to supply me with the ones I will sale as retail

You can get in touch with Wholesalers of cosmetics in many places including Onitsha Market, Aba Market, Lagos and many other places

Thanks it was really helpful

Hello pls I really need help on how to setup a cosmetic shop worth 500k But am new in the business

Hello can I get contacts for skincare supplier

Pls I’m interested

Please I need wholesale contacts, both Nigeria and foreign contacts

I need their contacts of foreign and local marketers. I want to setup a wholesale shop please

Educative thanks

Please sir I want to go into comestics business cos I have passion for it how much do I need to open a standard retail comestics business thanks.

You need at least a million naira

Thanks to your response sorry I haven’t been on line since. Sir am in port Harcourt rivers state which market will you advise me to go for my goods thanks

i enjoyed myself reading this post. thank you very much

You’re welcome. Keep visiting naijaonlinebiz.com

I enjoy my self reading this how would I get a supplier contact sir

Pls Sir, I want to start d business like how much is for starting

It depends on your entry level.

How may we be of help? Do you need a proposal for a cosmetic business

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How to Start a Cosmetic Business in Nigeria: Step-by-Step Guide

Starting a cosmetic business in Nigeria can be a rewarding venture given the country’s growing beauty and personal care market.

Here’s a step-by-step guide to help you get started:

1. **Market Research and Planning**: – Research the cosmetic industry in Nigeria, including market trends, consumer preferences, competition, and regulatory requirements. – Identify your target market segment(s) based on demographics, preferences, and purchasing behavior. – Develop a business plan outlining your business concept, products, target market, marketing strategies, operational plan, and financial projections.

2. **Legal Requirements and Registration**: – Register your business with the Corporate Affairs Commission (CAC) as a sole proprietorship, partnership, or limited liability company (LLC). – Obtain necessary permits and licenses from regulatory authorities such as the National Agency for Food and Drug Administration and Control (NAFDAC) for cosmetics and the Standards Organization of Nigeria (SON) for quality certification.

3. **Product Development and Sourcing**: – Develop a product range based on market demand, trends, and consumer preferences. This may include skincare products, makeup, haircare products, fragrances, and more. – Source high-quality cosmetic ingredients, packaging materials, and equipment from reputable suppliers or manufacturers. Consider factors such as product safety, efficacy, and compliance with regulatory standards.

4. **Branding and Packaging**: – Create a unique brand identity, including a brand name, logo, and packaging design that resonates with your target market. – Design attractive and informative product packaging that complies with labeling requirements and communicates key product benefits and ingredients.

5. **Distribution and Sales Channels**: – Determine your distribution strategy, whether you’ll sell directly to consumers through physical retail stores, online platforms, or both. – Establish partnerships with wholesalers, retailers, beauty salons, spas, and other distribution channels to reach a wider customer base. – Set up an e-commerce website or utilize online marketplaces to sell your products to customers nationwide and potentially globally.

6. **Marketing and Promotion**: – Develop a marketing strategy to raise awareness of your cosmetic brand and products. This may include digital marketing, social media marketing, influencer partnerships, and traditional advertising. – Utilize platforms such as Instagram, Facebook, Twitter, and YouTube to showcase your products, engage with customers, and drive sales. – Offer promotions, discounts, and loyalty programs to attract and retain customers.

7. **Quality Control and Compliance**: – Implement strict quality control measures to ensure the safety, efficacy, and consistency of your cosmetic products. – Adhere to regulatory requirements and standards set by NAFDAC, SON, and other relevant authorities regarding product formulation, labeling, packaging, and advertising.

8. **Customer Service and Feedback**: – Provide excellent customer service to build trust and loyalty among your customers. Offer responsive support, address customer inquiries and concerns promptly, and solicit feedback to continuously improve your products and services. – Encourage customer reviews and testimonials to showcase the quality and effectiveness of your cosmetic products.

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9. **Financial Management**: – Keep accurate financial records of your cosmetic business, including expenses, sales, inventory, and profits. – Monitor your cash flow closely to ensure sufficient funds for operations, inventory replenishment, marketing, and growth initiatives. – Invest in financial management tools and systems to streamline accounting processes and facilitate decision-making.

10. **Continuous Learning and Adaptation**: – Stay updated on industry trends, consumer preferences, and regulatory changes in the cosmetic sector. – Continuously innovate and adapt your product offerings, marketing strategies, and business operations to stay competitive and meet the evolving needs of your target market.

Starting a cosmetic business in Nigeria requires careful planning, market research, compliance with regulatory requirements, and a strong focus on product quality, branding, and customer satisfaction. With dedication, creativity, and perseverance, you can build a successful cosmetic brand that resonates with Nigerian consumers and beyond.

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How to start a cosmetic business in Nigeria

• Updated March 23, 2024
• Read Time 6 mins

The majority of working and business class Nigerian women spend a part of their monthly income on products that will improve their beauty, both short-term and long-term. Aside from making them more attractive to peers and strangers, it boosts their confidence as women.

Now that you know this, you can make a great deal of profit just by selling cosmetics and other skin products. In this post, you will learn how to start a cosmetic business in Nigeria.

Table of Contents

1. Do a market research

2. draft a business plan for your cosmetic business, 3. raise the needed startup capital for your cosmetic business, 4. secure a good location, 5. brand and register your cosmetic business, 6. stock your cosmetics store, 7. hire some help (if needed), how to start a successful cosmetic business in nigeria.

Follow these steps to start a successful cosmetic business in Nigeria:

Let’s make this simple. You will be researching 3 parameters here:

• Your ideal customers
• Purchase cycle

Market research on your ideal customers

The first thing is your ideal buyers. These are people that will be most probably interested in buying your cosmetics and skin care products. You can’t possibly sell cosmetic products to 80-year-olds, at least not in a proportion that will bring substantial profit.

Most of your customers will be females, ranging from 18 to older ages, probably around 40+.

Market research on the purchase cycle

Now, this part focuses on consistency. How many times will a customer buy back from you in a year?

If you only sell cosmetic and skin care products that help to remove certain blemishes and disorders from the skin, many of your customers won’t come back in a long time (unless the problem persists or occurs a second time).

This means that many of your target customers will only buy from you 1 to 4 times a year. Some won’t even come back. This means you have to make a substantial profit on each sale.

Now let’s look at another instance. If you sell beauty products alongside your skin care cosmetics, you can make a great deal of profit. Both men and women want to look good, so they will always come back at intervals to buy.

Market research on products

This part is pretty straightforward. You should identify which products will sell in your region. Some customers will rather buy Vaseline instead of Nivea because of one reason or the other.

Now, this part is optional, depending on the type of business you want to run. If you grew up in Nigeria, you will know that business owners can be categorized into two.

Professional business owners

Funny, right? A professional business owner is the type that has something really tangible in mind and he/she sees the business as an investment. Aside from making a profit, these business owners want to grow their brand, become recognized in the market, and dominate their industry.

They care about details, such as having a business plan, having a business name and logo, registering their business, getting investors, and the like. Some of these business owners are also willing to be acquired by larger businesses.

If your cosmetic business falls in this category, then you have to draft a business plan. It is the map of your business, it outlines everything you need to move on. This includes your business aims and objectives, marketing goals, startup costs, required equipment, and lots more.

You may want to read: How to write a business plan

Being a hustler is pretty simple. A customer buys something and you spend the profit immediately. You created the cosmetic business as your primary means of livelihood and you have no prospect of running it for long. Just for the time being until another opportunity comes knocking.

If your cosmetic business falls into this category, then you might not need a business plan. However, you should keep track of your inventory, sales, profit margin, etc.

There are many ways you can get capital to start a cosmetic business in Nigeria. You can start with your own savings, get money from family and friends or visit microfinance banks.

If your cosmetic business is a professional one, then you have more funding opportunities aside from the ones above. You can prepare and submit business proposals to angel investors, venture capitalists, business accelerators, and commercial banks.

Suggested for you: How to get funding for a new business in Nigeria

The next thing to do is to find a great spot for your cosmetic business. Whenever you’re looking for a place to site your store, you should consider:

• Target customers
• Competitors

Your target customers are those likely to patronize you. Although males also buy cosmetic products, they’re not as frequent as females.

You should site your cosmetic business in an area where there are many females between the ages of 18 to 45.

Another important thing to consider is the competition. If there are already more than two cosmetic stores in the area, kindly consider another location. You don’t want to run out of business before starting.

The next step is to pick a business name. Make sure it’s related to your business, easy to remember, and also visually appealing.

From there, you should get a business logo, register your business with the Corporate Affairs Commission and obtain permits that apply to your region.

You might be interested in: How to create a business name from scratch

Since you don’t have your own cosmetic manufacturing brand, you have to buy from wholesalers and resell them to your customers. The difference between the purchase and selling price (minus your capital) is your return on investment.

You have to take note of a few things while stocking your cosmetics store.

• Ensure the products are properly packaged before being transported to your store
• Take note of the expiry date
• Your cosmetic store should have a cool and dry environment

While this may not be required at the beginning, you may need to hire some staff as your cosmetic business expands. If you will hire anyone, it should be a female. 

The reason why is that most of your buyers are also females, and they might not be comfortable discussing their beauty preferences/problems with males. Your staff should be neat, polite, and above all others, trustworthy.

A large number of Nigerians, especially females spend a great deal on beauty and skin products every month. These products include body and hair creams, facial powder, bathing soaps, skin lightening creams, black spot removers, and many more.

The cosmetic business is becoming more profitable by the day, as many youths now want to look good. With enough skills and capital, you can start a cosmetic business in Nigeria and make lots of money by selling cosmetics and skin care products.

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Victor Iyiola

Victor Iyiola is a Content Writer with MakeMoney.ng. He has a great passion for Business, Finance, and Entrepreneurial topics. Victor is a big fan of Blogspot and WordPress.

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Cosmetics Business in Nigeria: How to Start, Cost & Profitability in 2024

• October 1, 2023

So you’re looking to start a cosmetics business in Nigeria! Of course, it is a very profitable one to venture into especially for ladies, as you can start with about any amount.

Cosmetics business is one of the fastest-moving businesses in Nigeria that doesn’t require lots of stress as you can market your products in different ways and drive sales.

The business is very profitable, and that is why a lot of young ladies, even students, now venture into the business, as you can make up to 100% ROI or 2X profit per product.

Cosmetics business in Nigeria is very easy to start, however, you need to know well, how to operate the business, the cost of starting, and also how profitable it is, so you can decide if it is good for you.

All that is what we will be discussing here in this post, so, if you’re looking for how to start a cosmetics business in Nigeria, just read on.

Table of Contents

Starting a Cosmetics Business in Nigeria

Cosmetics business involves selling all types of beauty products including eyelashes, powder, lipstick, cream, tubes, etc.

In Nigeria, this business can be started on both a small scale and large scale. Regardless, cosmetics products move fast, as most of them are used by women especially, on a daily basis.

There are lots of ways to operate a cosmetic business in Nigeria, and they include opening a cosmetics shop, selling online, and using your bag as a mobile shop where you go around advertising your products to people. This last one works well among students.

Also, the business allows you to niche down, as you can only focus on selling mainly make-up items, and make a lot of money.

Read Also: How to Start a Popcorn Business and Make 5K+ Daily

How Much Do You Need to Start a Cosmetics Business in Nigeria

Since beauty products are costly in the market, you may be wondering – what is the cost of starting a cosmetics business in Nigeria?

A cosmetics business can be started with a minimum of 50,000 Naira on a small scale, while you may need up to millions of Naira to start a standard large-scale cosmetics business in Nigeria.

Keep in mind the startup capital needed for this business may vary depending on location, as the cost of all that is needed to get started (e.g shop rent), maybe more expensive in some parts of the country than others.

Read Also: 20 Highly Profitable Businesses to Start with 20K in Nigeria

Is Cosmetics Business Profitable in Nigeria?

Yes, the cosmetics business is very profitable in Nigeria as you can make 100% profit from just one product. Although, you may get less for some products, sometimes even 20%.

Note that the probability of this business also depends on many things including location, and most importantly, the cost price of products from suppliers. If you work with suppliers that sell at high prices, you may end up with just a small profit. That is why cosmetics sellers, especially those that sell online now order their products from China, as they are way cheaper there.

Check Out: How to Buy Products from China and Sell in Nigeria

How to Start a Cosmetics Business in Nigeria

1. carry out an in-depth market research.

To start a cosmetics business in Nigeria, first of all, you need to carry out thorough market research to get to understand the business.

In your market research, do some findings on how the business operates in your area, what do you need to get started, the actual startup capital to budget, best marketing strategies, where to buy cosmetics for cheap in bulk, and so on.

To get the best result, it will be better to find and meet a cosmetics seller in your area, build a business relationship, and ask them everything you wish to know about the business.

2. Pick a Niche

All beauty products are known as cosmetics, so there are different types, and mainly sellers go with a niche at least for a start.

The following are some of the cosmetic business niches in Nigeria.

Make-Up Products

This niche of the cosmetics business involves the sales of all kinds of make-up products such as eyelashes, powder, lip gloss, mascara, foundation, etc.

This is the most popular and the one that usually comes to people’s minds when they think of cosmetics business. It is profitable and moves faster than other niches in the cosmetics business in Nigeria.

Skin Care Products

Skincare products are another popular and profitable niche in the cosmetics business and it involves selling all kinds of skin care products including body lotion, moisturizing creams, tubes, anti-acne creams, and lots more.

From opening a shop to selling online, skin care products move fast, as they are products that are used both by men and women.

Sales of fragrances in order words perfume is another niche in the cosmetic business in Nigeria. This niche also moves fast, and you can market the products in many different ways including taking them to offices, and even schools and advertising to students. That means it is a perfect one for students.

Personal Care and Toiletries

This niche is not too known as a type of cosmetics business, it is! It involves the sales of personal hygiene. These products include toilet paper, bathing soap, sanitary towels, etc. 

3. Get a Shop/Store

After picking a niche, the next thing is to find a shop in a suitable location. In this step, you need to take your time and do some findings such as competitor analysis. This will help you know what types of places cosmetics move fast. For example, where I live now, cosmetics move faster in the market square than on the street.

Although, while looking for a place to sure your store, you should consider:

• Target audience
• Competition

For the target audience, if your market research is well done, you would know who your customers are and your targeted demographics, just make sure to find a shop where there are many of those audiences.

Talking about competition, it is hard to find areas without cosmetics stores especially if you live in Lagos or Port-Harcourt. So, try and secure a shop where there is no, or far away from an existing cosmetics store.

Lastly, make sure there is a low criminal record in the area you’re looking to site your store.

Related: How to Start a POS Business in Nigeria and Make 5K+ Daily

4. Come Up With A Business Name & Get Registered

It is really hard to find a cosmetics store without a name unless the seller is a hawker. You need to brainstorm a business-related name for your cosmetics business, and also come up with a slogan.

After that, although not a must, you need to register your business with CAC, and it is important you find out if there are associations of cosmetics stores in your area. If there are, it is ideal to join one, so as not to get disturbed after starting.

5. Find a Supplier

In a cosmetics business, working with the right supplier could speed up your success. Because prices vary across every supplier, you’ll want to work with the ones that have the best prices.

If your market research is well done, you would have known the best places to buy cosmetics products at wholesale prices. However, you can also source products online from China and have them shipped to Nigeria. This is great for those that already know about the mini-importation business model.

Another way to find suppliers is to search online for the best cosmetics suppliers in Nigeria, and you’ll find a list of them. You can also go to a big market in your area and source suppliers yourself, just make sure you compare their prices before settling for one.

See Also: 35 Businesses to Start with 50K in Nigeria and Become a Millionaire

6. Stock Your Shop and Start Selling

After finding the heat supplier to work with, buy different kinds of cosmetics based on your niche and stock your shop with the products.

Stocking your shop starts with buying products from your supplier, you need to keep the following in mind and make sure they are well in place.

• Ensure the products are well packaged before being transported to your store
• Take note of the expiry date

After getting the products to your store, you need to arrange them in sections. That is, make sure that a specific category of product (e.g different kinds of lipstick) is arranged in one section. Overall, make sure that your shop is set up to look like a cosmetics store, then you can start selling.

7. Market Your Business & Products

To start getting sales, you need to market your business and the products that you sell. The following are some of the best ways to market a cosmetics business in Nigeria.

In a cosmetics business in Nigeria, marketing starts from branding. That is you need to make sure your shop describes your business by printing a poster or banner containing your business name, and the different kinds of products you sell.

Use Social Media

Social media is one of the best ways to reach a wider audience with your cosmetics business in Nigeria. A lot of cosmetics stores have social media pages for their business, you too can market your products that way. 

This involves creating Instagram, Facebook, TikTok, and Twitter pages for your business and posting your products every day. You can also try out paid social media ads to reach a more targeted audience.

Word of Mouth

Telling your friends, family, and neighbours about your business, and encouraging them to recommend your products to other people is another effective way of promoting your beauty product business in Nigeria.

Going online simply means building an online store for your business. This is becoming one of the most popular ways people sell stuff online. You can either build your own store using Flutterwave, Pocket, or Shopify and start selling or list your products on Jumia and Jiji to get buyers.

With this marketing method, you can even run your business in the form of dropshipping where you don’t have to see or touch the items, you only make your money online from home easily.

Read Also: How to Sell Anything on Jumia and Make Money from Home

Cosmetics Business – FAQs

Where to buy cosmetics in bulk in nigeria.

The best place to buy cosmetics in bulk as a seller in Nigeria is simply going to big markets in your area, and finding big cosmetics shops. You can buy from them in bulk for cheap wholesale prices.

How to start a cosmetic business at home?

To start a cosmetics business at home, you’ll either operate the business as a dropshipping business, or mini importation, where you sell online and ship the products to the buyers.

What are the items to sell in a cosmetic shop?

Items to sell in cosmetic shops include but are not limited to eye gloss, mascara, foundation, concealer, face primer, face powder, and make-up brush, as well as other related products like perfumes, moisturizing creams, etc.

Cosmetics store business in Nigeria is a very lucrative one that anyone can start whether on a small scale or large scale. If you’re looking to start, I believe this post on how to start a cosmetic business in Nigeria has covered all you need to know to get started.

Tags: business ideas Cosmetics Make-up

His name is Olatunde, he is the founder of Nairarush.com.ng. He is Nigerian who likes sharing information about anything about finance. And because he has been making money online for years now, he also share some information about investing, online business ideas, loans for students and businesses, and lots more.

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Cosmetics Business In Nigeria: Everything You Need To Know

The desire to look good is one of the few constant characteristics of the society, which is exactly why a cosmetics business has never seen a bad day. There are dozens of possible cosmetics business ideas , from reselling makeup to making your own products. Find out how to start a cosmetic business in Nigeria right now!

Shop thousands of high quality health and beauty products on Jiji

1. Choose your type of cosmetics business

Unless you plan to invest millions of naira into an all-encompassing cosmetic business, you need to decide what kind of cosmetics you want to deal with – a makeup business plan will be from an organic cosmetics business plan . Today you can choose from 5 types of beauty businesses:

• Skin care. Every woman in Nigeria buys a lot of skin care products, and with numerous types of specific products for specific needs, you can build a successful business in this branch.
• Hair care. This type of cosmetic business is targeted at both men and women. Shampoos, conditioners, oils, styling products, hair accessories, colouring products, extensions – there is so much you can sell!
• Makeup. This is probably the most diverse branch of cosmetics. With hundreds of brands to choose from, from super affordable to luxury ones, and with so many different products, you will always have something new to offer to your buyers.
• Toiletries. Any Nigerian house cannot be imagined without soap, toothpaste and toothbrushes, shower gels, deodorants, toilet paper, and shaving products, and that’s exactly what you can sell.
• Fragrances. This is a relatively narrow branch of cosmetics and one of the most expensive ones to get into, but there are also many opportunities to attract loyal customers who will become fans of your products.

2. How to start a cosmetic store: step by step guide

Cosmetics is a serious business that requires a serious approach, and here are the must-know steps to creating your own cosmetic business.

1. Write a business plan

Every good business starts with a business plan, and cosmetics is no exception. A thorough cosmetic shop business plan will help you learn your business better, from the study of competitors to projected revenue.

If you’re not sure how to write a cosmetics business plan , you can find a cosmetic business plan sample online. At this stage you will also need to get your startup capital ready: you’ll need about ₦ 500,000 to launch a business, although a smaller-scale shop can be opened for ₦ 300,000.

2. Register your business

Not every business owner in Nigeria chooses to register their business, but becoming an official entity will increase your credibility in the eyes of the customers. Register your business at the Corporate Affairs Commission of Nigeria – you can even do it online!

3. Choose your location

Good location is key for a thriving cosmetic business. Unless you’re planning to learn how to start a cosmetic business at home , you’ll need a location with plenty of foot traffic: choose areas near markets or business centres. Invest in visual aids, so that your store is perfectly visible from any direction.

4. Buy your products

As a novice cosmetic shop owner, you have several options for buying products. Small-scale shops usually buy from distributors, who will sell you even the smallest quantities of the desired products. If you’re aiming for a bigger cosmetic business, you can become a distributor yourself and buy directly from the manufacturers at lower prices.

5. Decorate your shop

The cosmetics business is all about the appearance, and the same goes for your store. In order to attract the customers, the design of your shop needs to be modern and appealing. Visiting your store needs to be a pleasant and fun experience for the customer.

6. Hire the staff

Even a small cosmetics shop requires at least several members of the staff: two salespeople, a stock manager, a cleaner, and a cashier. If you want to make visitors love your place even more, you can hire a makeup artist who will do makeup for free to the customers who had made a purchase.

7. Promote your business

Visual ads in the streets and newspapers are great, but nothing beats the internet as the most effective tool for promoting your business. Advertise your cosmetics store and products on Jiji to allow millions of Nigerians to discover your business!

Use the Jiji app to start and grow your business

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My name is Inna. I am a content writer with an English and literature background. As a mother of a 4-year old son, I love learning about children’s health and development, as well as finding new interesting toys and activities for my little one. I am also in love with all things tech and always keep my finger on the pulse of new smartphone and gadget releases. Another big passion of mine is beauty and makeup – every day I read about new trends in skin care and makeup and always look forward to trying them. Plus, I love pop culture, travelling, crafts, and anything that can make our daily life more thrilling!

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How to Start Cosmetics Business in Nigeria (Detailed)

In recent years, Nigeria has witnessed a remarkable transformation in its cosmetics industry. With a population exceeding 200 million people, Nigeria stands as the most populous country in Africa, presenting a vast and thriving consumer market. This demographic dividend, coupled with an increasing awareness of personal grooming and beauty, has turned Nigeria into a hotspot for cosmetics and beauty products.

Overview of the Cosmetics Market in Nigeria

The cosmetics market in Nigeria is a dynamic and ever-evolving sector. It encompasses a wide array of products, ranging from skincare and haircare to makeup and fragrances. This industry is not only about enhancing one’s appearance but also about fostering self-confidence and expression.

Skincare Products:

From moisturizers to serums, Nigerian consumers are increasingly conscious of the importance of skincare. The demand for products that cater to various skin types and conditions is on the rise.

Haircare Products:

Haircare is another significant segment of the cosmetics market . Natural hair products, weaves, and extensions are among the top-selling items.

Makeup and Beauty Products:

Makeup enthusiasts are growing in number, and this has led to a surge in the demand for makeup products such as foundations, lipsticks, and eyeshadows.

Fragrances and Personal Care:

Fragrances and personal care products have become essential for many Nigerians who wish to exude confidence and freshness.

Growth and Potential of the Cosmetics Industry

The cosmetics industry in Nigeria has not only witnessed steady growth but also holds immense untapped potential. Several factors contribute to this promising outlook:

1. Increasing Urbanization: Nigeria’s urban population is on the rise, leading to greater exposure to beauty trends and products. Urban areas like Lagos and Abuja serve as hubs for cosmetics businesses.

2. Expanding Middle Class: A burgeoning middle class has emerged with higher disposable incomes, making beauty and grooming products more affordable and accessible.

3. E-commerce Boom: The advent of e-commerce platforms has revolutionized the way cosmetics are bought and sold. Online marketplaces have broadened the reach of cosmetics businesses beyond physical store boundaries.

4. Diverse Consumer Preferences: Nigeria’s diverse population has varied beauty needs and preferences, creating opportunities for niche markets and specialized products.

5. Natural and Organic Products: There is a growing preference for natural and organic cosmetic products. Entrepreneurs who tap into this trend are likely to find success.

6. Investment and Innovation: The cosmetics industry in Nigeria is attracting investment and fostering innovation in product development, packaging, and marketing.

Market research and analysis

Understanding the dynamics of the cosmetics market in Nigeria is essential for anyone looking to start a successful venture in this industry. In this section, we’ll explore the importance of market research and analysis in shaping your cosmetics business strategy.

The Role of Market Research

Market research is the foundation upon which your cosmetics business plan should be built. It involves gathering, analyzing, and interpreting data related to your target market. Here are some key aspects to consider:

1. Consumer Behavior: Understanding the behavior and preferences of Nigerian consumers is paramount. What are their skincare routines? What brands do they trust? What factors influence their purchasing decisions?

2. Competitor Analysis: Examining existing cosmetics brands in Nigeria provides insights into market gaps and opportunities. Identify your competitors’ strengths and weaknesses to differentiate your products or services.

3. Demographics: Nigeria’s diverse population means that consumer demographics can vary significantly. Age, gender, income levels, and cultural factors all play a role in shaping buying habits.

4. Trends and Innovations: Stay updated on the latest beauty trends and innovations. Nigerian consumers are increasingly inclined toward natural and organic products. Researching global and local trends can inform your product offerings.

Conducting market research

Here’s a step-by-step guide to conducting effective market research:

1. Define Your Objectives: Clearly outline what you want to achieve with your research. Are you looking to identify your target audience, assess market demand, or evaluate pricing strategies?

2. Data Collection: Gather data through surveys, interviews, focus groups, and online research. Social media platforms and online forums can provide valuable insights into consumer conversations.

3. Competitive Analysis: Study your competitors’ product offerings, pricing strategies, and marketing tactics. Identify gaps in the market that your cosmetics business can fill.

4. Data Analysis: Analyze the collected data to identify trends, patterns, and consumer preferences. Tools like data analytics software can help streamline this process.

5. Consumer Feedback: Engage with potential customers to gather feedback on your business idea and product concepts. This can help you refine your offerings.

6. SWOT Analysis: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to assess your business’s internal and external factors.

7. Market Segmentation: Divide the market into segments based on demographics, psychographics, or buying behavior. This allows you to tailor your products and marketing efforts.

Developing a Solid Business Plan

A business plan serves as a roadmap for your cosmetics business. It outlines your goals, strategies, and financial projections. Here’s what you should consider when creating your plan:

1. Executive Summary: Provide a concise overview of your cosmetics business, including your mission, vision, and key objectives.

2. Market Analysis: Revisit the market research conducted earlier. Discuss market trends, consumer behavior, and competitive analysis.

3. Products and Services: Detail the cosmetic products or services you plan to offer. Highlight what sets your offerings apart from competitors.

4. Target Audience: Define your target market segments and customer personas. Explain how you plan to reach and engage with them.

5. Marketing and Sales Strategy: Outline your marketing and sales tactics. Consider online and offline channels, promotions, and advertising.

6. Operational Plan: Describe the day-to-day operations of your cosmetics business, including supply chain management, inventory control, and distribution.

7. Financial Projections: Present financial forecasts, including startup costs, revenue projections, and break-even analysis.

8. Funding Requirements: If you require external financing, specify the amount and the purpose for which it will be used.

9. Legal Structure and Compliance: Discuss the legal structure of your business (e.g., sole proprietorship, LLC) and outline steps to ensure compliance with Nigerian regulations.

Choosing the Right Business Model

When starting a cosmetics business in Nigeria, you have several options for your business model:

1. Online Retail: Establish an e-commerce platform to sell cosmetics products online. This can reach a broader audience beyond geographical boundaries.

2. Physical Store: Open a brick-and-mortar cosmetics store or kiosk, strategically located to attract customers.

3. Hybrid Model: Combine both online and offline presence to cater to diverse customer preferences.

Your choice of business model should align with your target audience, budget, and market research findings.

Budgeting and financial planning

Budgeting is a critical aspect of business planning. Determine your startup costs, including product procurement, store setup (if applicable), marketing expenses, and working capital. Create a financial plan that outlines your revenue projections and expenses for at least the first year of operation.

Securing financing or investment

If you require funding to start or expand your cosmetics business, explore various financing options. These may include personal savings, bank loans, venture capital, or angel investors. Ensure that your business plan includes a compelling case for investment.

Business Registration

Before you commence operations, it’s essential to register your cosmetics business. The specific registration process can vary depending on the legal structure you choose, such as:

1. Sole Proprietorship: Register your business name with the Corporate Affairs Commission (CAC).

2. Limited Liability Company (LLC): For a more complex business structure, you’ll need to follow the appropriate procedures for registering an LLC.

Regulatory Compliance

The cosmetics industry is subject to regulations aimed at ensuring product safety and quality. Key regulatory bodies in Nigeria include:

1. National Agency for Food and Drug Administration and Control (NAFDAC): NAFDAC regulates cosmetic products in Nigeria. Register your products with NAFDAC to ensure they meet safety standards.

2. Standards Organization of Nigeria (SON): SON sets standards for various products, including cosmetics. Ensure that your products comply with SON standards.

3. Trademark Registration: Consider trademarking your brand name, logo, or unique product formulations to protect your intellectual property.

Product Labeling and Packaging

Proper labeling and packaging of cosmetic products are essential. Labels should include vital information such as ingredients, usage instructions, batch numbers, and expiration dates. Packaging should meet hygiene and safety standards.

Import and Export Regulations

If you plan to import cosmetic products, familiarize yourself with import regulations, including customs duties and import restrictions. For export, understand the requirements of the target markets.

Taxation and business permits

Obtain the necessary tax identification numbers and business permits required by federal, state, or local authorities. Comply with tax regulations to avoid legal issues.

Identifying the Right Cosmetic Products

Before you start sourcing products, you must define your product catalog. Consider factors such as:

1. Market Demand: Analyze your market research to identify the most in-demand cosmetics products in Nigeria. Focus on products with a proven track record of popularity.

2. Target Audience: Tailor your product selection to match the preferences and needs of your target audience. Different demographics may have varying requirements.

3. Quality and Safety: Prioritize high-quality and safe products. Nigerian consumers are increasingly conscious of product quality and safety standards.

4. Uniqueness: Consider offering unique or niche products that set your cosmetics business apart from competitors.

5. Trend Analysis: Keep an eye on cosmetic trends, both global and local, to stay ahead of the curve. Natural and organic products, for instance, are gaining traction.

Sourcing Suppliers

Once you’ve determined your product selection, finding reliable suppliers is the next crucial step. Here’s how to go about it:

1. Local and International Suppliers: Explore both local and international suppliers. Local suppliers can offer advantages in terms of quicker delivery and lower shipping costs.

2. Supplier Verification: Verify the credibility and reputation of potential suppliers. Check for certifications, product quality, and references.

3. Minimum Order Quantities (MOQs): Clarify MOQs with suppliers. Ensure that you can meet their requirements without overstocking.

4. Price Negotiation: Negotiate pricing and payment terms with suppliers to ensure a mutually beneficial arrangement.

5. Quality Assurance: Establish quality control procedures to assess the quality of products received from suppliers. Inspect incoming shipments for consistency and compliance with safety standards.

6. Product Testing: Conduct product testing, especially for cosmetics, to ensure they meet safety and quality standards. Compliance with NAFDAC regulations is critical.

7. Contracts and Agreements: Draft clear contracts or agreements with suppliers that outline terms, responsibilities, and dispute resolution mechanisms.

8. Backup Suppliers: Have backup suppliers in case of unforeseen issues with your primary supplier. This ensures continuity of business operations.

Creating a Unique Brand Identity

Your brand is more than just a logo; it’s the perception and reputation of your cosmetics business. Here’s how to craft a compelling brand identity:

1. Brand Name and Logo: Choose a memorable and distinctive brand name and design a visually appealing logo that reflects your brand’s essence.

2. Brand Story: Craft a compelling brand story that connects with your target audience. Share your journey, values, and mission.

3. Brand Values: Define the core values of your brand. Do you prioritize natural ingredients, sustainability, inclusivity, or innovation? Make sure these values are reflected in your products and messaging.

4. Consistency: Maintain consistency in branding across all touchpoints, from your website and social media profiles to product packaging and advertising materials.

5. Packaging and Presentation: Invest in attractive and eco-friendly packaging that reflects the quality and personality of your brand.

Effective marketing strategies

To reach your audience effectively, employ a mix of online and offline marketing strategies:

1. Online Presence: Establish a strong online presence through a user-friendly website and active social media profiles. Utilize platforms like Instagram, Facebook, and Twitter to showcase your products and engage with customers.

2. Content Marketing: Create valuable and informative content related to cosmetics, skincare, and beauty trends. Blog posts, video tutorials, and infographics can establish your brand as an authority in the industry.

3. Influencer Marketing: Collaborate with local beauty influencers and bloggers to promote your products. Their endorsements can significantly impact consumer trust.

4. Email Marketing: Build and nurture an email list of subscribers interested in your cosmetics products. Send regular updates, promotions, and newsletters.

5. Online Advertising: Invest in targeted online advertising through platforms like Google Ads and social media ads. Pay-per-click (PPC) campaigns can drive traffic to your website.

6. SEO (Search Engine Optimization): Optimize your website and content for search engines to improve visibility in search results. Use relevant keywords related to your cosmetic products and industry.

7. Customer Reviews and Testimonials: Encourage satisfied customers to leave reviews and testimonials on your website and social media. Positive feedback builds trust.

8. Events and Promotions: Host events, promotions, or giveaways to create buzz around your brand. Consider participating in local beauty and trade fairs.

Establishing a physical store

If you decide to open a physical cosmetics store, here are the key steps to consider:

1. Location: Choose a prime location with high foot traffic. Ensure it aligns with your target audience and has sufficient space for your products and customer interactions.

2. Store Layout: Design an attractive and functional store layout. Consider product placement, shelving, and display areas to showcase your cosmetics effectively.

3. Interior Design: Create an inviting and aesthetically pleasing interior design. Colors, lighting, and decor should reflect your brand identity.

4. Inventory Management: Implement efficient inventory management systems to track product levels, restocking needs, and popular items.

5. Staffing: Hire knowledgeable and customer-focused staff who can assist customers with product recommendations and provide exceptional service.

6. Point of Sale (POS) System: Invest in a reliable POS system to streamline sales transactions and inventory management.

7. Security Measures: Implement security measures, including surveillance cameras and alarms, to protect your store and inventory.

Establishing an online presence

If you choose to focus on e-commerce, here’s how to establish a robust online presence:

1. Website Development: Create a professional, user-friendly e-commerce website. Ensure it includes features such as product listings, shopping carts, secure payment gateways, and customer reviews.

2. Product Photography: Invest in high-quality product photography to showcase your cosmetics attractively. Include multiple images and detailed product descriptions.

3. Mobile Optimization: Optimize your website for mobile devices to cater to customers who browse and shop on smartphones and tablets.

4. E-commerce Platform: Choose an e-commerce platform that suits your needs, whether it’s a custom-built site, Shopify, WooCommerce, or others.

5. Payment Options: Provide various payment options, including credit cards, mobile wallets, and bank transfers, to accommodate customer preferences.

6. Shipping and Delivery: Establish a reliable shipping and delivery system. Communicate clear shipping policies and delivery times to customers.

7. Customer Support: Offer responsive customer support through email, chat, or phone. Address inquiries and issues promptly.

8. Security: Ensure the security of customer data and transactions by using SSL certificates and encryption.

9. Marketing Online: Implement online marketing strategies, as discussed in the earlier section, to drive traffic to your e-commerce site.

Hybrid Model

You can also consider a hybrid model, where you have both a physical store and an online presence. This allows you to reach a broader audience and cater to various customer preferences.

Setting up inventory systems

To manage your cosmetics inventory efficiently, consider the following:

1. Inventory Tracking Software: Invest in inventory management software or use cloud-based solutions to keep track of stock levels, sales trends, and reorder points.

2. Categorization: Organize your inventory into categories such as skincare, haircare, makeup, and fragrances. This makes it easier to track and manage.

3. Barcode Systems: Implement barcode systems for quick and accurate product scanning during inventory checks and sales.

4. Stock Alerts: Set up stock alerts to notify you when certain products reach their reorder points. This helps prevent understocking.

5. Inventory Audits: Conduct regular inventory audits to ensure accuracy. Identify any discrepancies and take corrective action.

Managing supplier relationships

Strong relationships with suppliers are crucial for timely product replenishment and quality assurance.

1. Communication: Maintain open lines of communication with your suppliers. Keep them informed of your sales trends and anticipated inventory needs.

2. Reliable Suppliers: Build relationships with reliable suppliers who can consistently provide high-quality products.

3. Backup Suppliers: Always have backup suppliers in case your primary supplier encounters issues or delays.

Avoiding Overstock and Understock

Balancing your inventory is key to profitability.

1. Seasonal Trends: Anticipate seasonal demand fluctuations and adjust your inventory accordingly.

2. Demand Forecasting: Use historical sales data and market trends to forecast demand for specific products.

3. Safety Stock: Maintain a safety stock level to buffer against unexpected spikes in demand or delays in supply.

4. Inventory Turnover: Monitor your inventory turnover rate and strive to optimize it. Products that move slowly tie up capital and shelf space.

5. Clearance Sales: Implement clearance sales for slow-moving or outdated products to free up space and capital.

Budgeting for Your Cosmetics Business

Creating a detailed budget is a critical step in financial planning. Consider the following elements:

1. Startup Costs: Calculate the initial investment required to launch your cosmetics business. This includes expenses like product procurement, store setup, marketing, and legal fees.

2. Operating Expenses: Estimate your monthly operating expenses, including rent, utilities, salaries, insurance, and marketing costs.

3. Inventory Costs: Plan for ongoing inventory costs, considering factors like product procurement, storage, and potential fluctuations in demand.

4. Sales Projections: Develop realistic sales projections based on your market research and business plan. Break these down by product category and season.

5. Cash Flow: Create a cash flow statement to track the flow of money in and out of your business. This helps ensure you have enough liquidity to cover expenses.

6. Break-Even Analysis: Determine the point at which your sales revenue covers all your expenses. This is your break-even point and is crucial for profitability assessment.

If you require funding to start or grow your cosmetics business, consider these funding options:

1. Personal Savings: Use your personal savings as an initial source of capital. This demonstrates your commitment to the business.

2. Small Business Loans: Explore loans from banks or financial institutions that specialize in small business lending. Prepare a solid business plan and financial projections to support your loan application.

3. Investors: Seek investors or venture capitalists who are interested in the cosmetics industry. Be prepared to present a compelling business case.

4. Crowdfunding: Consider crowdfunding platforms where you can raise capital from a large number of backers who believe in your business idea.

5. Grants and Competitions: Look for business grants and competitions specific to Nigeria or the cosmetics industry. These can provide valuable funding and exposure.

6. Supplier Credit: Negotiate favorable credit terms with your suppliers to defer some of your product procurement costs.

10 things to avoid before starting a cosmetics business in Nigeria

• Neglecting Market Research: Before diving in, research the cosmetics market in Nigeria thoroughly. Avoid starting without a clear understanding of your target audience and competitors.
• Ignoring Legal Requirements: Don’t disregard the legal aspects of starting a business. Ensure you register your business, obtain necessary permits, and comply with health and safety regulations.
• Lack of Product Quality Control: Avoid compromising on the quality of your cosmetic products. Subpar products can harm your reputation and lead to legal issues.
• Insufficient Capital: Starting a cosmetics business can be capital-intensive. Avoid underestimating the costs involved in product development, marketing, and distribution.
• Ineffective Marketing Strategies: Don’t rely solely on traditional marketing methods. Embrace digital marketing and social media to reach a wider audience in Nigeria.
• Overstocking Inventory: Avoid overloading your inventory with too many products initially. Start with a manageable range and expand as your business grows.
• Poor Inventory Management: Failing to keep track of your inventory can lead to waste and financial losses. Implement an efficient inventory management system.
• Neglecting Customer Feedback: Don’t disregard customer feedback. Engage with your customers, address their concerns, and continuously improve your products and services.
• Ignoring Cultural Sensitivities: Nigeria is a diverse country with various cultures. Be mindful of cultural sensitivities in your marketing and product offerings to avoid offending potential customers.
• Neglecting Online Presence: In the digital age, having an online presence is crucial. Don’t overlook the importance of a professional website and active social media profiles.

Starting a cosmetics business in Nigeria offers tremendous opportunities, but it requires careful planning and execution. Key factors for success include thorough market research, legal compliance, strong supplier relationships, effective branding and marketing, and efficient inventory management. Additionally, sound financial planning and continuous adaptation to market changes are essential. With dedication and the right strategies, your cosmetics business can thrive in Nigeria’s dynamic market.

In the world of skincare products, renowned companies like Rodistogo, Vaseline, and Nivea have earned a reputation for producing top-quality creams. These companies offer a range of skincare products, including skin-lightening creams and skin-maintenance creams. When it comes to choosing between Vaseline and Nivea, it’s important to note that both brands excel in skin maintenance, catering to the needs of individuals with various skin tones, and there is a comprehensive difference between them. Whether you have dark or light skin, both Vaseline and Nivea offer excellent options for your skincare routine.

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Cosmetics Business in Nigeria: [ Guide to Start as Beginner ]

Starting a cosmetics business in Nigeria can be a profitable venture, given the high demand for beauty products in the country.

However, like any other business, it requires careful planning and execution.

In this article, we will provide you with a step-by-step guide on how to start a cosmetics business in Nigeria.

• Step 1: Conduct Market Research

Before starting any business, it is essential to conduct thorough market research. This will help you identify the demand for the products, competition, and potential customers. You can carry out surveys, visit beauty shops, and analyze industry reports to gather information about the cosmetics industry in Nigeria.

• Step 2: Develop a Business Plan

A business plan is a roadmap for your cosmetics business. It should include your company’s goals, marketing strategies, financial projections, and operational plans. You can seek guidance from business consultants or use online templates to create your business plan.

• Step 3: Register Your Business

Registering your cosmetics business with the Corporate Affairs Commission (CAC) is a legal requirement in Nigeria. You will need to choose a unique name for your business and obtain all necessary licenses and permits.

• Step 4: Source for Products

To start a cosmetics business, you need to source for quality products. You can import products from reputable manufacturers or source locally from wholesalers and distributors. Ensure that you choose products that are in high demand and of good quality.

• Step 5: Set Up Your Store

Your cosmetics store should be located in a strategic location with high foot traffic. You will need to rent or lease a space and furnish it with display shelves, mirrors, and other essential equipment. Ensure that your store has good lighting and an inviting ambiance to attract customers.

• Step 6: Develop a Marketing Strategy

A marketing strategy is essential to promote your cosmetics business and attract customers. You can use social media platforms, influencer marketing, and advertising to reach your target audience. Ensure that your marketing materials are visually appealing and reflect the quality of your products.

• Step 7: Hire Staff

To run a successful cosmetics business, you need to hire competent and knowledgeable staff. Your staff should be well-versed in the latest beauty trends, product knowledge, and customer service skills.

FAQS about cosmetics business in Nigeria

How much capital do i need to start a cosmetics business in nigeria.

The capital required to start a cosmetics business in Nigeria varies depending on the scale of the business. It can range from a few hundred thousand nairas to several million nairas. It is recommended to have at least N500,000 to N1,000,000 to cover the cost of product sourcing, rent, equipment, and marketing.

What kind of products should I sell in my cosmetics business?

You should sell products that are in high demand and have a good profit margin. These can include makeup products, skincare products, haircare products, and fragrances. Ensure that the products you sell are of good quality and meet the needs of your target audience.

How do I source for products to sell in my cosmetics business?

You can source for products from local distributors, wholesalers, or import from reputable manufacturers. You can attend beauty trade shows and exhibitions to connect with suppliers and learn about new products.

How do I market my cosmetics business in Nigeria?

You can market your cosmetics business through social media platforms, influencer marketing, advertising, and word of mouth. You can also offer discounts and promotions to attract new customers.

How do I ensure the quality of the products I sell in my cosmetics business?

Ensure that you source products from reputable suppliers and conduct quality control checks before selling them. You can also seek the advice of beauty experts and consultants to ensure that the products you sell meet the needs of your customers.

Do I need any licenses or permits to start a cosmetics business in Nigeria?

Yes, you need to register your business with the Corporate Affairs Commission (CAC) and obtain all necessary licenses and permits to operate legally in Nigeria.

How do I compete with established cosmetics brands in Nigeria?

To compete with established brands, you can offer unique products, excellent customer service, and competitive pricing. You can also differentiate yourself by offering personalized beauty services and experiences to your customers.

In conclusion, starting a cosmetics business in Nigeria requires hard work, dedication, and careful planning. By following these steps, you can start a successful cosmetics business in Nigeria and tap into the growing demand for beauty products in the country.

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How to Start a Profitable Cosmetic Business in Nigeria

Starting a profitable cosmetic business in Nigeria can be a rewarding venture for individuals with a passion for beauty and entrepreneurship. The cosmetic industry is thriving in Nigeria, offering ample opportunities for those who wish to tap into the market. However, like any business, it requires careful planning and execution to ensure success.

In this article, we will provide a step-by-step guide on how to start a cosmetic business in Nigeria, covering everything from market research to marketing strategies.

Tips On How To Start A Profitable Cosmetic Business In Nigeria

Market research: understanding the cosmetic industry in nigeria.

Before diving into the cosmetic business, it is crucial to conduct thorough market research. Understand the current trends, consumer preferences, and competition in the Nigerian cosmetic industry. Identify gaps in the market that your business can fill and determine your target audience.

Creating a Business Plan: Setting Your Goals and Strategies

A well-crafted business plan is essential for the success of any venture. Outline your goals, strategies, and financial projections in detail. Include a marketing plan, operational procedures, and a SWOT analysis to assess your strengths, weaknesses, opportunities, and threats.

Registering Your Business: Legal Requirements and Licensing

To operate legally in Nigeria, register your business with the Corporate Affairs Commission (CAC). Obtain the necessary licenses and permits, such as a trade license and a product registration certificate from the National Agency for Food and Drug Administration and Control (NAFDAC).

Sourcing Products: Finding Reliable Suppliers and Manufacturers

Establish relationships with reputable suppliers and manufacturers who can provide high-quality cosmetics. Ensure they comply with relevant regulations and have a track record of delivering products on time.

Product Selection: Choosing the Right Cosmetics for Your Target Market

Select a range of cosmetics that aligns with the preferences and needs of your target market. Consider factors such as skin types, age groups, and cultural preferences to offer a diverse and appealing product selection.

Branding and Packaging: Creating an Attractive and Unique Identity

Invest in creating a strong brand identity that resonates with your target customers. Develop a unique brand name, logo, and packaging design that reflects the essence of your cosmetics and sets you apart from competitors.

Setting Up Your Store: Establishing a Physical or Online Presence

Decide whether you want to establish a physical store, an online store, or a combination of both. Ensure your store layout and design are visually appealing, inviting customers to explore and purchase your products.

Marketing and Promotion: Reaching Your Target Customers

Implement a comprehensive marketing strategy to promote your cosmetic business. Utilize both online and offline channels, including social media marketing, influencer collaborations, beauty blogs, and local events. Engage with your target audience through compelling content and personalized promotions.

Financial Management: Budgeting and Pricing Your Products

Develop a sound financial management plan, including budgeting for expenses, pricing your products competitively, and tracking your revenue and expenses. Ensure that your pricing strategy allows for a profit margin while remaining attractive to customers.

Hiring Employees: Building a Skilled and Efficient Team

As your business grows, consider hiring employees to support various aspects of your cosmetic business, such as sales, customer service, and marketing. Look for individuals with a passion for the beauty industry and the skills necessary to contribute to your business’s success.

Quality Control and Customer Service: Ensuring Customer Satisfaction

Maintain a strong focus on quality control to ensure that your cosmetics meet high standards. Implement strict quality control processes and prioritize customer satisfaction by providing excellent customer service, addressing feedback, and resolving issues promptly.

Scaling Your Business: Expanding Your Product Line and Reach

Once your cosmetic business establishes a solid foundation, consider expanding your product line to cater to a wider range of customer preferences. Explore opportunities to reach new markets, both domestically and internationally, through strategic partnerships and distribution channels.

Staying Updated: Keeping Abreast of Industry Trends and Regulations

The cosmetic industry is constantly evolving, with new trends and regulations emerging regularly. Stay informed about the latest industry developments, such as ingredient regulations, sustainability practices, and consumer preferences. Adapt your business strategies accordingly to stay ahead of the competition.

Challenges and Opportunities: Overcoming Obstacles and Thriving in the Market

Starting a cosmetic business in Nigeria comes with its own set of challenges and opportunities. Some challenges include competition, regulatory compliance, and supply chain management. Embrace these challenges as opportunities for growth and innovation, and continuously seek ways to overcome them.

Frequently Asked Questions (FAQs)

1. How much capital do I need to start a cosmetic business in Nigeria?

The capital required to start a cosmetic business in Nigeria can vary depending on various factors, such as the scale of your operations, product range, and marketing strategies. It’s important to develop a comprehensive business plan and financial projections to determine the estimated capital needed.

2. Can I start a cosmetic business from home?

Yes, starting a cosmetic business from home is a viable option, especially if you’re initially focusing on online sales or small-scale production. However, ensure that you comply with all legal requirements and maintain proper hygiene and safety standards.

3. How can I differentiate my cosmetic brand from competitors?

To differentiate your cosmetic brand from competitors, focus on creating a unique brand identity, developing high-quality products, and providing exceptional customer service. Emphasize your brand’s values, benefits, and unique selling points to attract and retain customers.

4. Is it necessary to have a physical store for a cosmetic business?

Having a physical store is not mandatory, as many cosmetic businesses successfully operate solely online. However, a physical store can provide customers with a tangible experience and an opportunity for personalized interactions. Consider your target market and business goals when deciding on your store format.

5. How can I promote my cosmetic business effectively?

Promote your cosmetic business effectively by utilizing a mix of online and offline marketing strategies. This can include social media marketing, influencer collaborations, content creation, email marketing, participation in beauty events, and partnerships with complementary businesses.

Starting a cosmetic business in Nigeria can be a fulfilling and profitable venture if approached with careful planning and execution. By conducting thorough market research, creating a solid business plan, complying with legal requirements, sourcing quality products, and implementing effective marketing strategies, you can establish a successful cosmetic business in Nigeria. Remember to stay updated with industry trends, prioritize customer satisfaction, and continuously seek opportunities for growth and expansion.

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How to start a cosmetic business in Nigeria

Most working and middle class Nigerian women invest a portion of their income each month to purchase products that improve their appearance, both in the short and over the long term. In addition to making them more attractive to strangers and peers as well, it increases confidence in their status as women.

You now know it is possible to earn lots of money simply by selling skin care products. In this article you will discover how to begin an online cosmetics enterprise in Nigeria.

Table of Contents

How do you start a profitable cosmetics business in Nigeria

Follow these steps for starting an effective cosmetic company in Nigeria:

1. Conduct a market research

Let’s simplify this. It is possible to research three aspects in this article:

• Your ideal customer
• Purchase cycle

Market research for your ideal clients

First, you must identify your ideal customers. They are likely to be attracted to your skin care and cosmetics products. You shouldn’t be selling cosmetic products to those who are over 80 at the very least, not in a manner that can yield a substantial amount of profits.

A majority of your customers are females, and range from 18 to 40 likely to be around 40+.

Market research into buying cycles

This section focuses on the consistency. How often can customers buy back from you over the course of one year?

If you’re only selling cosmetics and skin care products that can help get rid of certain disorders and blemishes on the skin, a lot of your customers won’t be to you for a long period of time (unless the issue persists or occurs again).

That means that a lot of your customers you want to attract will only purchase from you a couple of times per year. Some won’t even come back. That means you must make a profit of a considerable amount from every sale.

Let’s examine another example. If you are selling cosmetics along with your skincare products and you make significant profits. Women and men both like to look attractive and will visit your store at least once a month to purchase.

Product market research

The process is fairly straightforward. It is important to determine which products are most popular in your local area. Certain customers prefer Vaseline rather than Nivea due to one reason or another.

2. Create a business plan for your cosmetic company.

This is optional, based on the kind of business you wish to operate. If you were born in Nigeria and recognize that business owners may be divided in two categories.

• Professional business owners

Professional business owner

Funny, right? A business owner who is professional is one who has something concrete in their minds and views the company as an investment. Apart from earning a profit the business owners also want to increase their visibility and be recognized by the marketplace, and become the leader in their market.

They pay attention to the smallest particulars, like having a business plan, the business’s name and logo and registering their company as well as obtaining investors other such things. Many of these business owners are ready to be bought by larger companies.

If your cosmetics business falls into this category, then you must create an outline of your business plan. It’s the plan of your company, it will outline everything you need to do in order to grow. This includes your company’s goals and objectives, your marketing goals as well as startup costs, the required equipment, and many more.

Being a hustler can be easy. When a customer purchases something, you cash out the profits immediately. You started the business of cosmetics to provide your primary source of income and do not have a chance to run it for a long time. For now, at least until a new opportunity knocks.

If your business is a cosmetic one, and is in this category, then you may not require any business plans. However, you must be aware of your inventory and sales, profits as well as other factors.

3. Find the necessary capital for your cosmetics business.

There are a variety of ways you can raise capital to begin your own cosmetic business in Nigeria. Start by saving your own money or borrow money from friends and family or go to microfinance institutions.

If your business in the field of cosmetics is a professional one then you’ll have more financing options apart from those mentioned previously mentioned. It is possible to prepare and present business plans to angel investors as well as venture capitalists, accelerators for businesses, and commercial banks.

4. Find a suitable place to stay

The next step is find a suitable place to set up your cosmetics business. When you’re looking for a location to set up your shop, take into consideration:

• Customers of the target
• Competitors

Your ideal customers are the ones most likely to buy from your business. While males do purchase cosmetics, they’re just not as frequently as females.

It is recommended to locate your cosmetics company in an area that has a large number of women between 18-45.

Another thing to take into consideration is competition. If there’s already more than two cosmetic shops within the region, please look into locating elsewhere. It isn’t a good idea to go out of business before you even begin.

5. Register your cosmetics business

Next step picking an appropriate business name. It should be relevant to your business, simple to recall, but visually appealing.

Then, you must create a business logo,  register your business  with the Corporate Affairs Commission and obtain permits for your area.

6. Store your cosmetics in the in the store

Because you don’t own your own cosmetics manufacturing brand it is necessary to purchase wholesalers and then resell the products for your clients. The difference between the purchase price as well as the selling cost (minus the capital) is the return you earn on your investment.

It is important to be aware of a few points when shopping for cosmetics.

• Make sure that the items are correctly packed prior to being delivered to your store
• Keep track of the expiration date
• The cosmetics store you visit should be an environment that is dry and cool

7. Get some help (if required)

Although this might not be necessary at initial, it is possible that you might require employees as your cosmetics business grows. If you are hiring anyone you hire, make sure it is female.

The reason is because most of your clients are females as well, and they may not feel at ease discussing their personal preferences or issues with males. Your staff must be neat courteous, polite and, above all else and most importantly, reliable.

Many Nigerians particularly females, spend an enormous amount on skincare and beauty products each month. These include hair and body creams as well as facial powder as well as bathing soaps, lighterening products, black spots eliminators and other.

The business of cosmetics is becoming more lucrative every day, since a lot of young people nowadays want to look attractive. With the right knowledge and capital, you could begin a cosmetics business in Nigeria and earn lots of money selling skin care and cosmetics products.

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Cosmetics Business Plan in Nigeria

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Our Sample Cosmetics retail shop business plan and feasibility study is up to date and can be used for grants, access bank loans and proposal writing. Furthermore,this article will be answer the following questions for you:

Also Read: Supermarket Business Plan in Nigeria

• The cosmetics industry in Nigeria
• How to start a cosmetic business in Nigeria

To get your sample Cosmetics Business Plan in Nigeria, pay N10,000 to:

BANK NAME: FIRST BANK PLC

ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM

ACCOUNT NUMBER: 3066880122

After payment, text your full name, email address and title (cosmetic retail business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.

Just in case you have not been informed, cosmetics business is one of the biggest industries in Nigeria and indeed the world at large. If you are not sure about this then I should ask you a question, did you use soap to take your bath this morning? Or after taking your bath did you use some cream on your body and some hair cream on your hair? Cosmetics as most people see it is all about makeup, that is a far cry from what cosmetics is in reality. The term cosmetics is far wider than just makeup, in fact makeup is just a branch of cosmetics, cosmetics covers everything we use to keep the skin healthy and in good condition. We will take a look at some of the different classes of cosmetics that you can invest in later in this article to give you a wider perspective of what constitutes the term cosmetics.

There is a saying which goes thus, “looking good is good business.” If you have heard that before and thought it was a lie, you better think again because looking good is really good business, else the cosmetic business will not be one of the biggest and fastest growing sectors worldwide. Firstly, you should have noticed that more and more beauty products are being produced on a daily basis, from body lotions to hair growth creams and serums to skin lightening products and even bathing soaps, deodorants and perfumes. It is natural that most of these products are more in demand by women than men and if you were to study the present demographic statistics you will discover that for every man you see, there are two women.

The profitability of the cosmetic business in Africa

Before we get to the crux of this article, it is important that we check out how well the business is doing in Africa, this should be a motivation for you to get involved before it is too late. Several entrepreneurs in Africa who recognized this opportunity and decided to invest in it early enough are already millionaires and they are still smiling to the bank as the business is still booming. One big name is Africology, who started by making $400 every week, is reported by CNN to have grown to over $1 million average sales on a monthly basis. Her business has also spread beyond the shores of Africa to Asia and Europe, reaching countries like France, Belgium, the United States, Germany, etc.

If you are in Nigeria you probably would have heard of House of Tara, presently the biggest makeup brand in Nigeria. The company started from just doing freebies less than 20 years ago but today boasts of branches in almost every state in Nigeria, and has crossed into Ghana and Kenya. These growth stories are just a few out of the many successful cosmetic businesses on the continent and you will definitely have some in your neighborhood that practically started from nothing and are making mega income today.

The reasons for the boom in the cosmetics industry in Africa

Africa is the major focus and not Nigeria because this business has the capacity to take you beyond the shores of Nigeria if you can simply get your act right. As stated earlier the business very lucrative and has experienced a major boom from the early 2000’s till now, which is likely not to decline for a very long time. Euromonitor International, a market research firm, gave some staggering statistics in 2011 which stated that the cosmetic industry of both Africa and the Middle East was worth a little over $20.4 million in that fiscal year. Of all the countries that are in this region Nigeria ranks second largest, this means we are the second largest cosmetics market in both Africa and the Middle East combined.

Below we will take a brief look at the reasons for the rapid growth of this sector:

• Cosmetics are no longer a thing of luxury of show off, they are a daily need . Once upon a time, the use of cosmetics was restricted to the affluent, now they are used by all and sundry and that on a daily basis. Cosmetics help us keep the skin in health and in state of cleanliness which is necessary for good hygiene. We could add cosmetics to the basic needs of man which are food, clothes and shelter because it is now a daily need which most people depend on for daily survival. The African population which just above a billion people is projected to rise to about 2.5 billion by the year 2050, this means there will be more than a hundred percent rise in the demand for cosmetics.
• 60% of Africa’s population is young and focused on looking good . About 60% of Africa’s population is less than the age of 25 years, this set of people are known to be keen on looking good and trying to impress others with their looks. For this reason alone there is a high demand of cosmetic products and studies show that they could spend an average of $15 a week on looking good.
• African women have more money to spend . The women who are the major purchasers of cosmetic products now fall into the working class category more than the last thirty years. This means they have more money at their disposal to spend, hence the increase in their demand for cosmetic products. It is only normal that when you have more cash at hand to spend, you will spend on what attracts you the most.

The bottom line is that as long as the population of the African continent increases, there will be an increase in the demand for cosmetics and thus there will be more profit to be made for the entrepreneurs.

Different cosmetic products you can invest in

Earlier it was stated that there are different classes of cosmetics that you can invest in and since we have looked at how big the industry is and what is causing the continual expansion of the industry, it is wise to look at what products you can focus on.

• Hair care . This accounts for between twenty and twenty five percent of all the cosmetics sold in Nigeria. As you know, there is a new craze about Brazilian, Peruvian and other kinds of hair as well as products that can make the hair longer and thicker. Asides these you have products like relaxers, shampoos, conditioners, dyes, and styling products which are needed daily. Men are not left out as the new trend of keeping beards has caused beard oils and serums to very high in demand.
• Skin care . This is regarded as the largest branch of the cosmetics industry as there are so many products to choose from. There are different kinds of skin and each of these skin types has products that are peculiar to them, a major reason for the size of this branch of the industry. Products in this category include body lotions and creams, skin lightening formulas, anti-acne, anti-aging, anti-wrinkle creams, toners, cleansers, etc.
• Makeup products . This is the part you have been waiting for. Makeup is known as decorative cosmetics and it is mostly used by women to beautify their faces, lips, eyes and nails. Some of the major products in this branch include eyeliners, mascara, lipsticks, nail polish, foundation, etc. The number of product brands in this category keeps growing by the day.
• Toiletries . This category is also widely used by every class of the society as they are necessary for maintaining personal hygiene. They are very in demand and thus they are also referred to as Fast Moving Consumer Goods. Some products in this category include bathing soaps, toothpaste, toilet paper, shaving creams, deodorants and antiperspirants, hair removal formulas and sunscreens.
• Fragrances . This category is actually the least in demand but somehow comes up with a huge profit because the products are usually expensive. The products that fall into this category are simply a mixture of oils and spirits which help to give the body a great and attractive scent. By this we mean perfumes and other forms of body fragrances.

Steps to take in starting your cosmetic business

Having considered all of the above, we can now discuss the steps you need to take in starting your own cosmetic business in Nigeria.

• Study the business and make a workable plan . Before delving into any business it is advisable to take some time out to study the business, the sector terrain and the prospective customers. This will help the entrepreneur know what steps to take with the business and how best to invest the capital. When the feasibility study is done, the business owner should come up with a business plan which give him or her a vivid picture of how the business will run and a projection of how much capital is needed and how much profit will be made.
• Raise your capital . From your feasibility study and business plan you should be able to decipher how much capital is required to start the business. The truth about this business is you do not need so much money to start, you can start very small and grow the business to become a huge empire. There are several ways you can raise capital, from personal savings, from loans from friends, family and the bank and seeking investors.
• Find a good location . Where your business is located has so much influence on how much patronage you will have and ultimately how much profit will be made. It is advisable to rent a shop in a high brow area, where people who have the capacity to purchase your products will find you. The internet has made life easy and business has become more versatile. You can decide to have an online store using Facebook, Instagram or even open a merchant website, any of this will suffice for your customers to make frequent orders and fetch you your desired profit.
• Get a reliable and affordable supplier . If you are going to make good profit then you must be buying from a supplier who will not sell to you at exorbitant prices. Consider that there are other cosmetics merchants like yourself and if your products are too costly you will lose your customers to them. This means that you need to find someone who will sell cheaply to you such that when you add your prices, it will still be reasonable enough for your customers.
• Aggressive publicity . The cosmetic business is one that is attracting quite a lot of attention right now, especially from investors and entrepreneurs. It is who can shout out the most that wins the market. It is your responsibility to make noise about your business, tell over the hilltop and shout it in the valleys. There are several methods of publicizing the business, the internet is your best bet and then you can focus on physical ads like handbills and billboards. Anyhow you want to do it, get as much attention for your business as you can, this will grow your patronage levels geometrically.

In conclusion, the cosmetic industry is one with a lot of profit potential, the onus now lies on you to make the necessary research and put in your investment to share in the spoils of the industry.

Get your sample Cosmetics Business Plan in Nigeria today. To order the business plan, pay N10, 000 to:

BANK NAME: GUARANTY TRUST BANK (GTB)

ACCOUNT NAME:  CHIBUZOR TOCHI ONYEMENAM

ACCOUNT NUMBER: 0044056891

After payment, send your full name, email address and topic (i.e. cosmetic retail business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.

Cosmetics Business Plan in Nigeria © www.businessplan.com.ng

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How to start cosmetics business in nigeria: pro tips.

The cosmetics business in Nigeria is gradually becoming a lucrative business in Nigeria because many Nigerians now care about their skin and the way they look generally. The average Nigerian woman spends about 5% of her monthly income on body creams, bathing soaps , hair creams, hair relaxers, face masks, powder, and more just to look different from every other woman around them and to attract men.

Is Cosmetic Business Profitable?

Cosmetic business is a profitable business in Nigeria for many reasons. One of them is that the average Nigerian men spend less but still chases after all these cosmetic products to also look good. Those that are dark in complexion want to become light in some cases and those that are light want to become lighter.

This is why in Nigeria cosmetics business is highly profitable now. Many Nigerian youths are not left out of this either they want to look flawless and attractive and do not mind spending a huge amount to money to be able to achieve this. Asides from all these, the cosmetic business is also profitable and lucrative because it is a very large business sector in Nigeria.

Because it consists of make-up business , an organic care business – a kind of cosmetic business where natural fruits and vegetables are used to glow the skin, and a skincare business – a kind of business where you recommend products or solutions to customers having skin problems.

So it is a very large business in Nigeria as regards the overview of the cosmetic industry in Nigeria. You can either go into just one aspect of the business in Nigeria or go into all aspects of it if you can afford the capital needed to start.

How to Start Cosmetics Business in Nigeria

Here are steps on how to start a cosmetics business in Nigeria.

1. Do your Market Survey

  In as much as all Nigerians use body creams, soaps, and other kinds of cosmetics products you still need to do the due diligence and perform a market survey or cosmetics business plan in your area, state, or town if starting a cosmetics business there can be lucrative.

Doing a market survey when starting any business in Nigeria is important as it lets you know if the business you are trying to start is lucrative especially where you want it to be located or not. It let you understand what Nigerians basically the ones in your area can afford as regards cosmetics.

For example , an average Nigerian living in the village cannot be able to afford expensive creams like Nivea even though they might want to buy it. They will rather use cheap creams like Vaseline or shea butter as they have other important needs like food to spend their money on.

So starting a cosmetic business in areas like this might not be successful. Remember the customer (consumer) is king. Conducting a market survey or business plan before starting a business in Nigeria also gives you a picture of how Nigerians in your area think as regards their money and expenses.

What cosmetics products will sell to them and what cosmetics products will not sell? That is why after carefully considering all these, my best advice here is for you to start your cosmetics business in a city rather than just any random place. If you look around you and you do not see any cosmetics business in your area, it might not necessarily be because no one has not come up with the business idea.

It might just be that all business starters or investors have discovered that the business will not be lucrative or profitable therefore opt-out. Watch out! If you are also writing a cosmetic business plan or you are getting someone – a professional to write it for you all these will be noted in the business plan of the cosmetic business.

2. Get the Capital Needed

After doing your market research or market survey, the next step here is for you to source the capital you will need to start your cosmetics business in Nigeria. Writing a cosmetic business plan PDF will inform you on the kind of cosmetics business you can start and therefore inform you how much capital is needed to start the business.

A cosmetic business plan is very important for your cosmetic business especially if you are going into the business on a wholesale level (large scale). As for how you can get the capital to start the business you can do this by self-funding the business yourself or by getting the money as a loan and as time goes by paying back the money on an installment basis.

The exact money you will need as capital in this business is not specific as it all depends if you want to start the business on a small scale, medium scale, or large scale. However, if you want to start the business on a small scale level you will need capital not less than N100,000.

To start the business on a medium scale level you will need a capital of N500,000 or more. And if you want to start the cosmetics business on a large scale you need capital not less than N2,000,000 (N2M). Starting at any of these scales has its advantages and disadvantages.

For example , if you start at a small scale the most benefit you will be getting from this business is low risk in terms of the capital you invest. And if you start the business at a large scale the most advantage you will be getting from this business is higher profit. Either of these scales is beneficial in one way or the other. It just depends on the one you can afford.

3. Rent a Shop or Space

When it comes to starting a profitable cosmetics business in Nigeria renting a shop at the right location is very important. So when renting a shop you should consider these 3 factors. An area where:

1. Buyers or consumers can easily afford to buy your cosmetics products

2. Thousands of Nigerians pass by every day

3. Customers can easily locate you

After you have gotten your cosmetics shop. You need to design it – create a brand for your cosmetics business hence, creating a cosmetics shop image and design in Nigeria that will attract customers to your shop to buy your products . You can get a graphic artist to do this for you.

4. Buy Cosmetic Products from Wholesalers

Depending on how much you want to use in starting your cosmetics business you can either buy your cosmetics products from wholesalers in popular markets like Aba market (Abia State), Onishta market, or Eko/CMS market in Lagos State or import your cosmetics products directly from the USA or China.

You can start by buying from the local markets around you and as time goes by when the cosmetics business has started yielding massive profits year in and year out proceed to import directly from China.

Importing from China can give you a total makeover in your brand because you can add your brand to the cosmetics products right from when the products are made making it look like you produce your own cosmetics products yourself.

This gives you authority in the cosmetics business and makes you own the beauty sector in Nigeria easily. I know a popular cosmetics brand that does this very well but I won’t mention their name.

5. Stocking your Cosmetics Shop

Stock your cosmetics in your shop after buying them from your wholesaler extreme care must be taken. The first care is to make sure the cosmetic products are well packaged into the delivery van to avoid spillage or damage. And the second care is to make sure cosmetics goods are well arranged in your shop.

This is after doing your stock. Stock is the process whereby you make sure all the cosmetics you brought from the wholesaler are well accounted for with their wholesale prices so that you can know how much you will add to it as your profit.

Stocking or inventory as some people call it is very important in the business of buying and selling as it lets you know how much you bought each product and how much you are willing to sell them. After all these, you can now proceed to arrange your products: creams, powders, mascaras, lipsticks, make-up brushes, and so on in your shop.

Do not forget to use display shelves that are very attractive to the eyes to arrange your cosmetics. You can contact your local furniture shop for this. Also, lightning is very important as this makes your shop look attractive from the outside to the inside. There are some specific kinds of bulbs that are used in this kind of business in Nigeria. Contact your local electrician on this too.

6. Start Selling your Products

At this stage start selling your cosmetics. Many business starters in Nigeria think to start selling their products they need a grand opening but this is not always true. There are some businesses you just have to start anytime and any day as long as the goods are available and there are customers to buy them.

This is why I advise Nigerian youths to always advertise what ventures they are into even before they actually start these ventures so that buyers will start coming in right on time. In any kind of business, the first people or consumers you should always try to sell to should be your family and friends.

Aside from the fact that doing this helps you to learn how to advertise your products easily it also helps you make money on time as a beginner in any business. So as regards this cosmetics business in Nigeria, try to advertise your products to your family and friends for profits to start coming in from day one or before day one.

7. Selling your Cosmetics Online

If you are into any business in Nigeria selling your products or services online cannot be overemphasized. E-commerce websites like Konga and Jumia and Websites like Jiji can be used to promote your cosmetics products online to intending customers.

This is because 70% of your customers will not pass in front of your shops rather they will be online either shopping or snooping around on social media (Instagram, Facebook, and Twitter). You need to meet them there. With a good phone that has a good camera, you can snap these cosmetics products and upload them online for advertisements.

A. Keeping Cosmetic Products from Spoiling

When it comes to keeping cosmetics products in Nigeria and making sure they are sold in good condition there are some precautionary measures you must take as a seller to avoid losses. These precautionary measures will be mentioned below so that it will be easy for you to take notes of them.

B. Keeping Cosmetics in Cool and Dry Places

Because cosmetics products are made with fruits, vegetables, minerals, and some chemicals they have to be kept in a cool and dry place despite being packaged in good containers. So it is advisable that anybody who is into the cosmetics business should always make sure they store their cosmetics products in good places.

Make sure your shop and store are not damp and at the same time not hot as this can affect the effectiveness of the products.

C. Watch Out for Expiration Dates

Cosmetics products do not last forever this is another consideration you need to put in mind. You need to watch out for their manufacturing dates and expiration dates before buying them from your wholesaler, distributors in Nigeria, or even manufacturing companies so as to know how to sell them off your shelves before they expire.

You can get a separate book to keep accounts of all your cosmetics products manufacturing dates and expiration dates to conquer this. The last thing you want is to be sued or arrested for selling expired cosmetics products to customers.

D. Prioritize Low Prices First

It is normal for anybody who is into a new business in Nigeria to want to make big profits shortly after starting but in the cosmetics business, I strongly advise that you yield to this as it will chase your customers. No customer in his or her right senses in Nigeria will want to buy their cosmetics at almost double the price all in the name of encouraging you.

They do not know you before and have yet to develop a good relationship with you. Rather they will go somewhere else they can get it cheaply. So you need to reduce your price to a good extent just to attract them.

Another benefit you stand to gain if you reduce your cosmetics product price a bit (for a while) is that it will speed up sales of your products which will in turn not allow your cosmetics products to spoil or expire on your shelves.

You can start your cosmetic business just the way you are and after some time when the business starts making good profits, go ahead and register the business. The main thing here is to start and focus on selling.

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How To Start a Cosmetic Business In Nigeria

Table of Contents

Introduction.

The beauty industry in Nigeria is a rapidly growing market, and starting a cosmetic business can be a lucrative venture for entrepreneurs.

The beauty industry is diverse, and there is a high demand for quality and affordable cosmetic products in Nigeria .

Starting a cosmetic business requires careful planning, research, and strategic execution to establish a strong brand and differentiate it from the competition.

In this article, we will provide a step-by-step guide on how to start a cosmetic business in Nigeria , including tips on product development, branding, marketing, distribution, and regulatory compliance.

By following these steps, aspiring entrepreneurs can successfully start and grow their cosmetic businesses in Nigeria .

What is a Cosmetics Business?

A cosmetics business is a company that produces and sells personal care and beauty products, such as makeup, skincare, hair care, fragrances, and other beauty items.

The cosmetics industry is a large and diverse sector that serves a wide range of customers, including men and women of all ages.

Cosmetics businesses can operate in different ways, such as creating and selling their own products, distributing products for other brands, or selling through retail stores, online marketplaces, or direct sales.

The industry requires a focus on innovation, marketing, and branding to create products that meet the needs of consumers and differentiate them from the competition.

Successful cosmetics businesses need to have a deep understanding of consumer preferences, quality control, and regulatory compliance to build trust and loyalty with customers.

Why Should I start a Cosmetic Business?

Starting a cosmetic business in Nigeria can be a lucrative venture for entrepreneurs interested in the beauty industry.

The beauty industry is growing rapidly in Nigeria , with a large and diverse population looking for quality cosmetic products. Here are some of the benefits of starting a cosmetic business in Nigeria :

1. High Demand for Quality Cosmetic Products.

There is a high demand for quality cosmetic products in Nigeria . As the country’s population continues to grow, so does the demand for beauty products.

This provides a significant opportunity for entrepreneurs to create innovative products that meet the needs of their customers.

2. Growing Market.

The beauty industry is growing rapidly in Nigeria . According to a report by Euromonitor International, the beauty and personal care market in Nigeria is expected to grow by 7% annually between 2020 and 2025.

This presents a significant opportunity for entrepreneurs to tap into a growing market and meet the demands of consumers.

3. Increasing Disposable Income.

Nigeria ’s economy is growing, and there is an increase in disposable income. As a result, consumers are more willing to spend money on luxury items, including cosmetic products.

This presents an opportunity for entrepreneurs to create high-end products that meet the needs of consumers.

4. Creative Freedom.

Starting a cosmetic business allows entrepreneurs to express their creativity and create unique products.

The beauty industry is diverse, and entrepreneurs can create products that reflect their styles and vision. This allows entrepreneurs to stand out in a crowded market and create a loyal customer base.

5. Job Creation.

Starting a cosmetic business in Nigeria creates employment opportunities for people in the community.

By hiring people to work in their factories, offices, and retail stores, entrepreneurs can contribute to the local economy and create job opportunities for people.

6. Export Opportunities.

Nigeria is a gateway to the West African market, with a large population of over 300 million people. This presents an opportunity for entrepreneurs to expand their businesses and explore new markets outside of Nigeria .

By creating quality products, entrepreneurs can establish their brands and expand their businesses globally.

How do I start a Cosmetic Business In Nigeria?

Starting a cosmetic business in Nigeria can be an exciting venture for entrepreneurs interested in the beauty industry.

However, it can also be a challenging process that requires careful planning and execution. In this article, we will outline the key steps involved in starting a successful cosmetic business in Nigeria .

1. Conduct Market Research.

Before launching a cosmetic business , it’s essential to research the market and identify opportunities.

You need to know what types of cosmetic products are in demand, who your target market is, and the competition you will face.

Analyzing this information will help you identify gaps in the market, set realistic expectations, and tailor your products and marketing strategies to meet your customer’s needs.

2. Develop a Business Plan.

A business plan is essential for any new business , including cosmetic companies. It’s a roadmap that outlines your business ’s objectives, strategies, financial projections, and marketing plans.

Your business plan should also cover your brand identity, product offerings, distribution channels, and sales strategy. This plan will serve as a guide to help you stay focused and on track as you build your business .

3. Register Your Business.

To operate legally in Nigeria , you need to register your business with the Corporate Affairs Commission (CAC) and obtain all necessary permits and licenses.

This process may involve obtaining a trading name, registering your business name, obtaining a tax identification number, and obtaining necessary permits from relevant government agencies.

4. Source for Quality Products.

As a cosmetic company, the quality of your products is paramount to your success. You should source quality ingredients from reputable suppliers and ensure that your products meet regulatory requirements.

You may also want to consider using local ingredients to create unique products that reflect Nigerian culture.

5. Build Your Brand.

Developing a unique brand identity is critical to your success in the cosmetic industry. Your brand should stand out and be memorable to your target market. Consider factors such as your brand’s name, packaging, and logo.

Additionally, you need to create marketing materials that align with your brand’s identity.

6. Create an Online Presence.

In today’s digital age, having an online presence is essential for any business . Creating a website and social media accounts is an effective way to reach a broader audience and promote your products.

You may also want to consider partnering with influencers and bloggers to promote your products on social media .

7. Establish Distribution Channels

After developing quality products and a strong brand, you need to consider your distribution channels.

You can sell your products through various channels, including online marketplaces, retail stores, and beauty salons.

You may also consider offering free samples to salons and partnering with beauty professionals to promote your products.

Conclusion.

Starting a cosmetic business in Nigeria can be a rewarding venture for entrepreneurs. With a growing market, increasing disposable income, and a diverse population, entrepreneurs can create innovative products that meet the needs of consumers.

By establishing their brand, creating quality products, and tapping into new markets, entrepreneurs can grow their businesses and create employment opportunities for people in the community. Finally, starting a cosmetic business in Nigeria is a challenging but rewarding venture.

To succeed in the industry, entrepreneurs must conduct market research, develop a business plan, register their business , source quality products, build a strong brand, create an online presence, and establish distribution channels.

With hard work, persistence, and a little bit of creativity, entrepreneurs can build successful cosmetic businesses that stand out in the Nigerian market.

What do you think?

Written by Udemezue John

Hello, I'm Udemezue John, a web developer and digital marketer with a passion for financial literacy.

I have always been drawn to the intersection of technology and business, and I believe that the internet offers endless opportunities for entrepreneurs and individuals alike to improve their financial well-being.

You can connect with me on Twitter Twitter.com/_udemezue

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This is good

By Gods grace i will start a supermarket or cosmetic store this year in benin city

This is a beautiful cosmetic business proposal. Thanks for posting

This is a beautiful cosmetic business proposal. Thanks

Thank Gloria. You can call us for the complete version 08105636015

Hey Dayo, are you available for chat??

This is a great cosmetic business proposal. Thanks it will be of help

Good, publish. I am really impressed with your article. Thanks for sharing.

well drafted

Thanks. You can reach out to us for the complete business plan

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Steps to take if you cannot repay your loan

Is forex trading banned in nigeria, sports betting: a source of hope or misery.

The majority of working and business class Nigerian women spend a part of their monthly income on products that will improve their beauty, both short-term and long-term. Aside from making them more attractive to peers and strangers, it boosts their confidence as women.

Now that you know this, you can make a great deal of profit just by selling cosmetics and other skin products. In this post, you will learn how to start a cosmetic business in Nigeria.

What's in this guide?

How to start a successful cosmetic business in Nigeria

Follow these steps to start a successful cosmetic business in Nigeria:

1. Do a market research

Let’s make this simple. You will be researching 3 parameters here:

• Your ideal customers
• Purchase cycle

Market research on your ideal customers

The first thing is your ideal buyers. These are people that will be most probably interested in buying your cosmetics and skin care products. You can’t possibly sell cosmetic products to 80-year-olds, at least not in a proportion that will bring substantial profit.

Most of your customers will be females, ranging from 18 to older ages, probably around 40+.

Market research on the purchase cycle

Now, this part focuses on consistency. How many times will a customer buy back from you in a year?

If you only sell cosmetic and skin care products that help to remove certain blemishes and disorders from the skin, many of your customers won’t come back in a long time (unless the problem persists or occurs a second time).

This means that many of your target customers will only buy from you 1 to 4 times a year. Some won’t even come back. This means you have to make a substantial profit on each sale.

Now let’s look at another instance. If you sell beauty products alongside your skin care cosmetics, you can make a great deal of profit. Both men and women want to look good, so they will always come back at intervals to buy.

Market research on products

This part is pretty straightforward. You should identify which products will sell in your region. Some customers will rather buy Vaseline instead of Nivea because of one reason or the other.

Also Read: How to start a wholesale provision store in Nigeria

2. Draft a business plan for your cosmetic business

Now, this part is optional, depending on the type of business you want to run. If you grew up in Nigeria, you will know that business owners can be categorized into two.

Professional business owners

Funny, right? A professional business owner is the type that has something really tangible in mind and he/she sees the business as an investment. Aside from making a profit, these business owners want to grow their brand, become recognized in the market, and dominate their industry.

They care about details, such as having a business plan, having a business name and logo, registering their business, getting investors, and the like. Some of these business owners are also willing to be acquired by larger businesses.

If your cosmetic business falls in this category, then you have to draft a business plan. It is the map of your business, it outlines everything you need to move on. This includes your business aims and objectives, marketing goals, startup costs, required equipment, and lots more.

You may want to read:   How to write a business plan

Being a hustler is pretty simple. A customer buys something and you spend the profit immediately. You created the cosmetic business as your primary means of livelihood and you have no prospect of running it for long. Just for the time being until another opportunity comes knocking.

If your cosmetic business falls into this category, then you might not need a business plan. However, you should keep track of your inventory, sales, profit margin, etc.

3. Raise the needed startup capital for your cosmetic business

There are many ways you can get capital to start a cosmetic business in Nigeria. You can start with your own savings, get money from family and friends or visit microfinance banks.

If your cosmetic business is a professional one, then you have more funding opportunities aside from the ones above. You can prepare and submit business proposals to angel investors, venture capitalists, business accelerators, and commercial banks.

Suggested for you:  How to get funding for a new business in Nigeria

4. Secure a good location

The next thing to do is to find a great spot for your cosmetic business. Whenever you’re looking for a place to site your store, you should consider:

• Target customers
• Competitors

Your target customers are those likely to patronize you. Although males also buy cosmetic products, they’re not as frequent as females.

You should site your cosmetic business in an area where there are many females between the ages of 18 to 45.

Another important thing to consider is the competition. If there are already more than two cosmetic stores in the area, kindly consider another location. You don’t want to run out of business before starting.

5. Brand and register your cosmetic business

The next step is to pick a business name. Make sure it’s related to your business, easy to remember, and also visually appealing.

From there, you should get a business logo, register your business with the Corporate Affairs Commission and obtain permits that apply to your region.

You might be interested in:  How to create a business name from scratch

6. Stock your cosmetics store

Since you don’t have your own cosmetic manufacturing brand, you have to buy from wholesalers and resell them to your customers. The difference between the purchase and selling price (minus your capital) is your return on investment.

You have to take note of a few things while stocking your cosmetics store.

• Ensure the products are properly packaged before being transported to your store
• Take note of the expiry date
• Your cosmetic store should have a cool and dry environment

7. Hire some help (if needed)

While this may not be required at the beginning, you may need to hire some staff as your cosmetic business expands. If you will hire anyone, it should be a female. 

The reason why is that most of your buyers are also females, and they might not be comfortable discussing their beauty preferences/problems with males. Your staff should be neat, polite, and above all others, trustworthy.

A large number of Nigerians, especially females spend a great deal on beauty and skin products every month. These products include body and hair creams, facial powder, bathing soaps, skin lightening creams, black spot removers, and many more.

The cosmetic business is becoming more profitable by the day, as many youths now want to look good. With enough skills and capital, you can start a cosmetic business in Nigeria and make lots of money by selling cosmetics and skin care products.

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Cosmetic Business Plan Template

Written by Dave Lavinsky

Cosmetic Business Plan

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

If you’re unfamiliar with creating a cosmetic 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 cosmetic business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Cosmetic Business Plan?

A business plan provides a snapshot of your cosmetic 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 Cosmetic Company

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

Sources of Funding for Cosmetic Businesses

With regards to funding, the main sources of funding for a cosmetic 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 cosmetic companies.

Finish Your Business Plan Today!

How to write a business plan for a cosmetic business.

If you want to start a cosmetic 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 cosmetic 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 cosmetic business you are running and the status. For example, are you a startup, do you have a cosmetic business that you would like to grow, or are you operating a chain of cosmetic businesses?

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

• Give a brief overview of the cosmetic industry.
• Discuss the type of cosmetic 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 cosmetic business you are operating.

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

• Niche market cosmetics: This type of cosmetic business specializes in one particular segment of cosmetics. For instance, a niche cosmetic business could sell only fragrance-free products, all vegan products, or gluten free products.
• High-end cosmetics: This type of cosmetic business develops and sells premium make-up and skin care products.
• Kids cosmetics: This type of cosmetic business specializes in producing inexpensive play-makeup products for children.
• Beauty blogger/influencer: This type of cosmetic business involves trying out products from different types of cosmetic brands and providing tutorials, reviews, and other helpful information for people who may be interested in the products. Usually, beauty companies will pay the blogger/influencer to sample or endorse their products.
• Make-up Artist: This type of cosmetic business involves providing make-up services for special occasions like weddings or graduation ceremonies.

In addition to explaining the type of cosmetic 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 products sold, and reaching $X amount in revenue, 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 cosmetic industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the cosmetic 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 cosmetic business plan:

• How big is the cosmetic 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 cosmetic 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 cosmetic business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of cosmetic business you operate. Clearly, individuals would respond to different marketing promotions than corporations, 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 Cosmetic Business Plan in 1 Day!

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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 cosmetic businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes mass market cosmetic brands and retailers, as well as secondhand cosmetic retailers. 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 cosmetic 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 make it easier for customers to acquire your products?
• 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 cosmetic business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of cosmetic company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide premium make-up, skin care products, or esthetician services?

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 cosmetic company. Document where your company is situated and mention how the site will impact your success. For example, is your cosmetic business located in a busy retail district, a business district, a standalone store, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your cosmetic 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 cosmetic business, including answering calls, stocking shelves, greeting customers, and collecting payments, etc.

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

Management Team

To demonstrate your cosmetic 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 cosmetic 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 cosmetic business or successfully running a small salon.  

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 expect to serve 20-30 customers per day, and will each customer purchase 1-5 items on average? 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 cosmetic 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 cosmetic business:

• Cost of equipment and 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 office location lease or photos of happy customers using your products.  

Writing a business plan for your cosmetic business is a worthwhile endeavor. If you follow the template above, you will be able to prepare a winning beauty product business plan, makeup business plan or a business plan for a cosmetic company. You will understand the cosmetic industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful cosmetic business.  

Cosmetic Business Plan FAQs

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

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

How Do You Start a Cosmetic Business?

Starting a cosmetic business is easy with these 14 steps:

• Choose the Name for Your Cosmetic Business
• Create Your Cosmetic Business Plan
• Choose the Legal Structure for Your Cosmetic Business
• Secure Startup Funding for Cosmetic Business (If Needed)
• Secure a Location for Your Business
• Register Your Cosmetic 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 Cosmetic Business
• Buy or Lease the Right Cosmetic Business Equipment
• Develop Your Cosmetic Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Cosmetic Business
• Open for Business

Don’t you wish there was a faster, easier way to finish your Cosmetic 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 writers can create your business plan for you.

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Cosmetics Business Plan

In Nigeria and even the world at large cosmetic products is one of the most essential commodities that every person cannot do without. It is estimated that about 8 out of 10 persons apply Cosmetics/ beauty products on the body daily and with Africa population estimated to comprise of 60% of people less than the age of 25years and women accounting for 39% of this youthful population.

Most persons might mistake cosmetic to be makeup, rather it is the other way around as makeup is just a small brand of the cosmetic industry.

Cosmetic business boom can be said to be due to the introduction of different body lotions from hair growth creams and serums to skin lightening products and even bathing soaps, deodorants and perfumes which are always in high demand among women and men alike. The women who are the major purchasers of cosmetic products now fall into the working-class category. This means they have more money at their disposal to spend.

In recent times, it has been observed that the Cosmetics, Beauty and Fragrance Stores industry shows a moderate level of market share concentration, with the leading brands (Zenon, Zan, SNL, Doyin Group, Beneks, VIP, Divat et Viva, Enumez) accounting for over half of the available market share in Nigeria.

Starting a cosmetic, beauty and fragrance business is a very profitable and has a lot of benefits if done properly; it can be also capital intensive depending on the scale of operation. Getting the right products that people want to buy, good production process, and pricing are the secrets of running a cosmetic business.

Industry concentration has increased in recent years due to rapidly increasing demand for specialty beauty products. Going forward, the industry concentration is projected to continue increasing over the next five years as consumer-spending levels rise and people turn to well-known, trusted stores for their fragrance, beauty and cosmetics needs.

No doubt, expansive product selections and skilled employees have driven revenue for the Cosmetics, Beauty and Fragrance Stores and industries. So also, with the increase in youth-targeted cosmetics, the expansion of male-specific products and of course the reformulation of anti – aging products have given specialty beauty stores a new collection of cosmetics, beauty and fragrance products to offer customers. Going forward, per capita disposable income will continue to rise and the revenue generated from this industry will also enjoy positive growth.

Knowing these facts about cosmetic business in Nigeria has brought about a form of motivation for Utibe Cosmetics Inc. to tap into the industry as several entrepreneurs who have recognized the profitability of the business venture have invested massively into the sector and are surly reaping millions in profit.

Table of Contents

I.    Introduction3

1.0 Executive Summary4

1.1 Company Benefits5

1.2 Business Objectives6

1.3 Vision6

1.4 Mission6

1.5 Keys to Success6

2.0 Company Summary7

2.1 Company Ownership7

2.2 Location and facilities8

2.3 Start-Up Summary8

Table: Start-up Funding9

3.0 Company Product Description9

3.1 Product Description10

3.2 Product Uniqueness10

3.3 Future Products10

4.0 Market Analysis10

4.0.1 Market Summary10

4.0.2 Market Trend11

4.0.3 Marketing Plan11

4.1 Target Market12

4.2 Industry Analysis12

4.3 Challenges Facing the Cosmetic Industry13

4.4 SWOT Analysis15

4.4.1 Strengths15

4.4.2 Weakness16

4.4.3 Opportunities16

4.4.4 Threats16

4.5 External Environmental Analysis16

4.6 Marketing Strategy17

4.7 Publicity and Advertising Strategy17

4.8 Sales Forecast18

4.9 Sustainability and Expansion Strategy20

5.0 Strategy and Implementation Summary20

5.1 Competitive Edge21

6.0 Management Summary22

6.1 Management Team22

6.2 Personnel Plan23

Table: Payroll Year 124

Table: Payroll Year 1-324

7.0 Financial Plan24

7.1 Breakeven Analysis25

7.2 Projected Profit and Loss25

7.3 Projected Cash Flow27

7.4 Projected Balance Sheet28

Resources, A. (2024). Cosmetics Business Plan. Afribary . Retrieved from https://afribary.com/templates/cosmetics-business-plan

Resources, Africana "Cosmetics Business Plan" Afribary . Afribary, 26 Mar. 2024, https://afribary.com/templates/cosmetics-business-plan. Accessed 21 Jun. 2024.

Resources, Africana . "Cosmetics Business Plan". Afribary , Afribary, 26 Mar. 2024. Web. 21 Jun. 2024. .

Resources, Africana . "Cosmetics Business Plan" Afribary (2024). Accessed June 21, 2024. https://afribary.com/templates/cosmetics-business-plan

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NGBusiness Gives You Access To Over 100 Business Plan Samples As Well As Other Important Business Related Information...

Cosmetics Business Plan in Nigeria 2024 Feasibility

Cosmetics Business Plan in Nigeria 2024 PDF Feasibility Studies

Cosmetic business is one business that has interestingly grown in Nigeria. Given that almost every Nigerian woman wants to look good.

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Business plans and feasibility studies to get a discount.

This gives room for cosmetic ventures to thrive and also become profitable. Here is a well written cosmetics shop Business Plan and Feasibility study for you to successfully run a business in the cosmetic industry. Be rest assured that this feasibility study undergoes regular updates in respect to current economic condition of the country. For starters without start up fund, you can use the cosmetic business plan in Nigeria PDF file to seek for bank loans, enter into different competition as well as apply for grants at any issuing agency.

When people hear cosmetics, what comes to mind is female interest… NO! Cosmetics talks about cream applied on our body, deodorants, bathing soaps, tooth pest, perfume etc. The thing is we all need cosmetics in our daily, in fact there is one of these item that you must use on the daily basis, this means the chances of getting customers to your cosmetic shop is there.

Hurry NOW and BUY The Cosmetics Business Plan in Nigeria PDF Feasibility Studies. Simply order yours by paying N10,000 to

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Once payment is made for the Cosmetics Business Plan in Nigeria PDF Feasibility Studies, send the following (i) a valid email address and (ii) your payment details to any of these numbers – 07039768549.

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With the cosmetic retail business plan pdf file, you will be getting into a business with loads of opportunities. The business is a lucrative one, because you will always have someone that will need even if it is bathing soap and given that there are numerous cosmetic products available for both men and women, there will be constant patronage.

Irrespective of how competitive the environment is and has been, a lot of people will always demand for cosmetic products. Now, in a country of over 180 million people, a handle of cosmetic store will not be able to serve the high demands of these cosmetic products, in essence, the market for cosmetic products can never be over saturated.

One of the advantages of starting a cosmetic shop or business is that you can actually start small and then watch your business grow into a mega cosmetic outfit. I remember One Mallam Sule who was into the sale of deodorant, he used to sell from the very small kiosk in front of my compound in WUSE Zone 6, within the space of 7 months, the business expanded and then he started selling bathing soap, makeup as well as other cosmetic products, so many factors worked for him, these factors I’ll be discussing on this post

Factors To Consider In Cosmetics Business Plan in Nigeria Start Up

There are various factors that helped Mallam Sule to grow his business, below are the factors that helped him excelled;

• Location of the business – Location of a business is one factor that has been underrated by many entrepreneurs when setting up their business, this is because they do not see it as important, now every business has a particular location that best fits it. And for Mallam Sule, Locating his small cosmetic shop at end of Sudan street at the beginning of his business wasn’t the ideal thing to do, but as time went on, almost everyone at the end of Sudan street patronized him, most didn’t see any need for walking down the street to get deodorant, in fact people from the other side of the street started coming to his own end to buy from him because he seemed to have every cosmetic product you needed. The only reason why he moved was because his business grew and then he had to move to a bigger space. In relation to Mallam Sule, you can start up from your street, with much dedication; your Cosmetics Business Plan in Nigeria will be a success.
• Dedication – As a small business, you need to dedicate you all your time in making the business to grow, by dedication this implies paying attention to information in your sales, profits, expenditure etc. Having a full account of the business finance will inform you ho how far the business has grown. At that early stage, do not hand over the business to a sales personnel, except if you started in a very big way, safe for that, there is no reason whatsoever why you should hand your small business to someone else, reports has shown that nobody will take care of your business better than you will do.
• Write A Business Plan – Every business requires a plan to execute it, and Cosmetics Business is one of such business that requires you get a professional writer to write a business plan for you (which in most cases is very costly) or you can choose the easy way out of buying a Cosmetics Business Plan in Nigeria PDF Feasibility Studies as advertised above, these business plans where written by professionals and every economic indices where put into consideration.
• Market Research – It is true that the market for cosmetic products is large, however, there are products people do not buy anymore, there are bathing soap that some customers won’t even take if you give it to them for dash (for free). These types of cosmetic products are no longer being sold by many cosmetic shops in the market, a little market research will inform you of the trending deodorant, bathing soap, make up kits that people request for regularly. Market research tell you of what the customers will want from your business.
• Competition – Competition is one market factor that keeps the market lively and interactive, however, as a new business entrepreneur in that section of business, you need to know the market forces in terms of competition that you are dealing with, know what your competitors are doing and seek for a way to improve on those things while adding your own service delivery spices.

Reasons Why You Should Consider Cosmetics Business

It is no secret that this business is a lucrative one, however, I know a lot of people will need a little bit of convincing before they can device if they should go into the Cosmetics Business Plan in Nigeria venture, here are a few reason that may change your mind about this business;

• Customer Base – Without a doubt the capital base for cosmetic business is very big and it accommodates both men and women as there are products that specifically apply to men and women respectively, also there are products that applies for people of different skin texture and complexion. All that is requires is to always have what the customer needs.
• Start Fund – Unlike many other type of business where you are expected to have large sum to start up your business, with cosmetic retail business plan pdf you can set up and begin with fund as low as N50,000. This simply implies that you can start with such an amount and still make profit, and that is starting in a small scale, imagine investing up to N1,000,000 or more, there are chances you can get an estimated returns of up to 70%. With a little more of that fund, you can start up as a wholesaler deal and the return on investment can be as high as 70%.

Types Of Cosmetic Products To Invest in;

• Personal care products
• bathing soap
• Face powder
• Various facial make ups etc.

Uses Of Cosmetics Business Plan in Nigeria PDF Feasibility Studies

You can use your cosmetic/ beauty shop  business plan feasibility study for the following purposes;

• Grant Applications
• Application for Bank Loans
• Proposal writing
• Business Concept Note etc.

Cosmetics Business Plan is without a doubt a lucrative business and as a business that will be funded, you need to have a strategic Plan to start up and execute your entire business template.

Do you want to get a Cosmetics Business Plan in Nigeria Feasibility Sample? Simply follow the instruction below…

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23+ Profitable Cosmetics and Beauty Business Ideas in Nigeria and Africa

The cosmetics and beauty business in Nigeria and Africa has evolved from just buying and selling products to rendering advanced beauty services.

All beauty and cosmetics-related businesses enjoy a steady profitable market as the industry is now beyond just buying and selling the products, but also into the rendering of services which make the business a highly promising one for a new entrepreneur with a keen interest in the space.

Also, the presence of the internet has made it easier as there are some cosmetics and beauty businesses you can now start without a physical store, with even the knowledge on how to deliver your services available for free online.

If you are passionate about beauty & cosmetic and want to make money while doing this, here are 23+ profitable cosmetics and beauty business ideas you can start in Nigeria or Africa:

See Also : How To Start A Lucrative Makeup Business In Nigeria Or Africa: The Complete Guide

1). Beauty Blog:

A beauty blog is a web platform where you post original informative articles on beauty. The blog is also a means to share your thoughts via product reviews, product recommendations, skincare routines, beauty tips, and others. Also, you can decide to critique or share beauty trends.

The blog’s content is mainly based on how creative the individual or group handling it. Beauty is broad; you might choose to start on a specific area before diving into others.

As the blog gets more popular, you’d be able to monetize and build a sustainable income.

2). Beauty Vlog:

A beauty Vlog contains content in video format, unlike blogs that are based on written texts. The Vlogs can be uploaded on YouTube or other social media pages. You can equally use a beauty vlog to share reviews on products or recommend products.

When you begin to vlog, it is pertinent to create a signature style that your audience can relate to. You also need to have a knowledge of video editing and picture editing for your vlog.

See Also : How To Start A Lucrative Food Processing And Packaging Business In Nigeria Or Africa: The Complete Guide 

3). Beauty Podcast:

This is similar to discussing beauty with your friends or experts. Some audiences find the podcast as one of the easiest ways to learn due to its flexibility — they can listen to podcasts while going about their everyday activities.

Before you record your podcast, get your scripts ready so you don’t stutter. As much as people want to listen to experts, people appreciate creativity and humor too.

4). Wig Making:

Women across the globe and all age groups now wear wigs more as it has become one of the advancements in fashion. Hence, wig making is a lucrative business since ten out of ten women want to buy a wig.

Wigs are styled weaves that women wear like a cap on their head.

You can start a wig business with research on the types of wigs people are buying the most and at what cost. You can also learn how to make wigs or get to know where they make wigs.

See Also : How To Start A Lucrative Tourism Business In Nigeria Or Africa: The Complete Guide

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5). image style consultancy:.

Image style consultants give clients the needed instructions on makeovers, body language, and self-confidence that they want their image to exude. In some cases, you might be in charge of their makeovers.

You can work with celebrities to help them always look and feel good. More so, you can do this as a virtual business.

6). Body Piercings:

Piercings are now a strong fashion statement. A lot of mostly males and females between the ages of 15-35 fancy piercings. Starting a body piercing business requires little income, but it is important to be an expert or employ an expert.

You can start a body piercing business with or without a location. Also, you can work on a part-time basis.

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7). Stretch Mark Removal:

Nobody wants to look older than their age. Most people believe stretch Marks will make you look older or less sexy. And so, the new normal with no stretch marks, has made the stretch mark removal business more lucrative.

You can help people get rid of their stretch marks through creams or a stretch mark removal machine.

It is better to gain expertise before starting.

8). Cosmetic Store:

The demand for cosmetic products is increasing daily. Meanwhile, there are several classes of beauty products out there.

You can select a set of related approved products and sell to end-consumers or small retailers.

You can start an online store or physical store. People often trust a knowledgeable seller. So, it is important to know the side effects, pros and cons of your products.

See Also : How To Start A Lucrative Record Label Business In Nigeria Or Africa: The Complete Guide 

9). Etiquette Manner Academy:

This is an academy where etiquette and manners are taught. This academy is not aged-based only if it is otherwise stated. Any age group that wants an A-game in their etiquette can opt-in, hence, it’s a lucrative business that attracts both the young and old.

To get started, you need to know everything about etiquette and manners. Also, you need to know how to teach.

10). Weight Loss Coach:

Weight, health and beauty are all interrelated aspects of an individual’s appearance. For health reasons or personal preferences, people want to lose weight.

Weight loss coaches help people lose their desired kg. The coach will also design suited meal plans for their clients.

Coaching can be physical or virtual.

A weight loss coach will motivate and help clients track their growth. Also, the coach needs to have a strong online presence.

See Also : How To Start A Lucrative Car Dealership Business In Nigeria Or Africa: The Complete Guide 

11). Makeup Services:

A makeup artist is a specialist who applies makeup to people. You can start a makeup business anywhere and still get a lot of clients.

In addition, you can guide clients through products, and recommend beauty products based on skin type or complexion.

Makeup is one of the beauty business ideas that can not be practised virtually; you have to see your clients in person or invite them to your beauty store.

12). Barber Shop Business:

Starting a barbershop in any part of the business requires low to average startup capital. Yet, you can make lots of profits from the business.

Once you are well-trained at barbing, you can attract and retain as many clients as possible as people largely retain their barbers based on skill.

It helps to update your knowledge on the latest barbing skills in town, so as to fully satisfy your clients’ needs.

See Also : How To Start A Lucrative Plastic Recycling Business In Nigeria Or Africa: The Complete Guide 

13). Hairstyling:

One of the most sought-after services in the beauty industry is hairstyling. Hairstyling is a profitable business as ladies style their hairs on a steady basis. It is also one of the most common cosmetic beauty business ideas.

Hairstyling requires professional training. Once you’ve acquired the skills, you can set up your business.

You can decide to hire a team or do it alone. Home services are another means to meet your clients’ demand if you are interested in rendering services at home.

14). Nail Technician Services:

A nail technician’s job is one of the most flexible jobs in cosmetics and beauty. A technician can decide to be mobile, have a physical store, or work from home.

Nail technicians render services such as manicures, pedicures, foot massage, nail enhancements, and nail repairs.

Meanwhile, you need the highest level of skills and creativity to render optimum services to the client. You should also understand your target audience and their needs, so you can render good services.

See Also : How To Start A Lucrative Event Planning Business In Nigeria Or Africa: The Complete Guide

15). Fashion Design:

More than ever, the demand for fashion items has greatly increased and those in the industry are not fully meeting the demands.

You can merge your beauty business with fashion, identify the kind of fashion product you want to create, and also know your customers.

There are various categories in fashion design; i.e the children’s fashion item, the male, and the females.

It is advisable to focus on a particular item as a starter, but if you want to start big, why not?

16). Cosmetics Training Center:

Already an expert? This might just be the right time to make money just by training others. It helps to have an established beauty business in operation already. Invite people to train with you for a token.

Over time, you will build a reputation and get more apprentices.

See Also : How To Start A Lucrative Frozen Foods Business In Nigeria Or Africa: The Complete Guide

17). Jewellery Sales:

Both males and females buy jewellery to suit their clothes for various outings. The jewellery business will not only help you make good profits when you start, but it will also help make great connections as most people who buy good jewellery a lot are influential people.

You may decide to make the pieces of jewellery yourself or buy the ready-made ones. If you choose to make or buy your pieces of jewellery, as a jeweller, you should learn from your competitors and apply the knowledge.

18). Start A Beauty Magazine:

People are always on the lookout for the latest trends in the beauty and cosmetics business. If you have a flair for magazine production, you could include this in your areas of focus.

Publish regular magazines on the latest styles and you’ll drive a large readership, which can, in turn, earn you big sponsorship deals and ads placement contracts.

See Also : How To Start A Lucrative Oil And Gas Business In Nigeria Or Africa: The Complete Guide

19). Hair Removal Services:

People want to get rid of unwanted hair, so a professional hair removal service is a great cosmetics and beauty business idea to consider.

While you offer to remove hair, you can sell products that will help their skin alongside.

You can start your hair removal service in a part-time business. Being mobile will also earn you more customers. This service is another beauty service that can not be rendered virtually.

20). Tattoo Parlor:

Tattoos are fast gaining wide acceptance amongst people of all ages in Nigeria and Africa. The great thing is tattoo lovers always love to add more ideas to their inks, so you’ll always have new and returning clients.

You need to be creative and have a flair for art to encourage repeat customers. It is also important to make your customer’s safety your priority by using sterilized objects.

See Also : How To Start A Lucrative Travel Agency Business In Nigeria Or Africa: The Complete Guide

21). Anti-Ageing Clinic:

Starting an anti-ageing clinic involves selling supplements, creams, and serums that erase wrinkles and other ageing features. It also involves providing consultancy services.

The anti-ageing clinic has a huge customer demand; everyone wants to look younger.

You can start with DIY natural remedies for clients before you start to partner with larger producers.

22). Affiliate Marketing For Beauty Products:

Now is the time to cash out from your numerous online and offline contacts as affiliate marketing keeps taking ground daily.

You can make money just by recommending products for friends and acquaintances. It is also a plus to your communication and networking skills.

You do not need a physical store. You can start without capital, all you need is to acquire the necessary knowledge to drive sales and build your unique identity.

See Also : How To Start A Lucrative Catering Business In Nigeria Or Africa: The Complete Guide

23). Hair Dye Services:

Hair dye is an evergreen service that will always have high demands. Before people started exploring different colours, black dye was in high demand.

Dyes are now used as costumes in movies, fashion, and the likes. This has also increased the demand for hair dye in different colours more than ever before.

Being mobile and having a physical store will keep you in the market. Creativity will spice and bring new and returning customers. You can also provide hair consultancy services.

24). Candlemaking:

Candlemaking requires little capital. Candles are highly appreciated and have good profits.

There are various types of candles such as jar candles, poured candles, carved candles, and candlesticks.

You can use different colours, containers, scents, and styles so that your brand can stand out. You can also sell candles online.

See Also : How To Start A Lucrative Photohraphy Business In Nigeria Or Africa: The Complete Guide

To Sum It Up

It is important to know that businesses will always thrive as long as they meet people’s needs. Since the cosmetics and beauty business is will always on the rise as more people want to look younger and beautiful, you can make your mark in the industry by starting any of the cosmetics and beauty business ideas listed above in Nigeria or any where else in Africa.

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What are your thoughts on these 23+ cosmetics and beauty business ideas that you can start in Nigeria or anywhere else in Africa? Let me know by leaving a comment below.

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Cosmetics Shop Business

Cosmetics Shop

Our Cosmetics Shop Business Plan & Feasibility is Updated And Can Also Be Used To Obtain Bank Loans, Grants

TABLE OF CONTENT FOR COSMETICS SHOP BUSINESS PLAN / FEASIBILITY STUDIES IN NIGERIA PDF

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Executive Summary Introduction Business Description Products and services Competitive Advantage Market Research Competitor Analysis Sales and Marketing Plan Operational Plan Business Risk Management and Structure Financial Plan and Projections

Cosmetics are preparations normally applied to the face and the body. It is a very lucrative business because a lot of people make use of various cosmetic products. A lot of people are into this business which is the reason for it’s competitive nature. Nevertheless is really yields profit as it is in high demand.

In Cosmetics products business, you can start small with cheap cosmetics products, then gradually increase your business capacity as your profits starts coming. This implies that you can start a cosmetics products business with as low as N50,000 and you’ll be able to get twice as that in a month when you sell to consumers. In the same manner if you invest like N500,000 or more, there is a huge chance that you can get up to 70% profit monthly when you sell to consumers or final users. However if you invest up to N2,000,000 you have the capacity of being a wholesaler and there would still be a huge chance of getting profit worth 70% in return if you constantly turn the money over and over for months.

Cosmetics products business is a lucrative one, but you’ll need to set up shop at a strategic location that is easily accessible.

Cosmetics implies generally, personal care products. Some of which are; toothpaste, bathing soap, deodorants etc. There is also the beauty products which includes face powder, lipstick, lip-gloss, and various facial makeups.

The reason why cosmetics business is a very lucrative one is not far fetched. Everyone wants to look, smell and feel good. As they say, Looking good is good business. This article will help you to be well grounded in the cosmetics business and improve profit maximization. Just before you start your cosmetics products business, there are some things you need to know that are very crucial to the success of the business and we have compiled them for you.

Various Uses Of Cosmetic Products

Personal care products are required in our day to day activities. It goes beyond make ups as you’ll need soap to bath, perfumes to smell nice etc.

Spending More to Look Good

Both people of high and low income invest in cosmetics. It is a necessity. No one wants to appear haggard or unkempt so everybody invests into cosmetics, though in varying amounts, no matter the income.

Various Cosmetic Products Entrepreneurs Can Invest In

There are various types of cosmetics you can venture into and they have being listed for you. Just bear in mind that every cosmetic product is very lucrative as the demand is quite high.

Hair Care Product

There are two basic aspects of hair care products;

Hair Extension : This could be attachments or weaves usually attached to the hair so as to improve it’s look. It is used mostly by females.

Hair care and Treatment : These are various types of hair cream, hair gloss, hair spray, relaxers, different types of hair treatment, etc.

Skin Care Products

The skin obviously needs proper care so as to feel fresh, look Smooth and be comfortable. Literally, people want to be comfortable in their own skin so they make use of a wide range of skin care products to achieve the desired result. These products includes bleaching cream, moisturizing cream, age defying cream, anti acne cream amongst others.

This can be divided into three parts and they are; roll on, body spray and perfumes. They are used so as to always smell good and nice and also prevent the body from emitting offensive odour.

Personal Care And Toiletries

This area of cosmetics helps out in maintaining personal hygiene. They include toilet papers, bathing soap, sanitary towel, etc.

Make-Up Products

This area of cosmetics is quite popular especially among women. They are used by women both young and old to enhance their beauty. There are a lot of brands such as Mary Kay, Black Opal, etc selling these make up products which includes lip stick, eye shadow, mascara, foundation, eye liner and many others.

Things To Put In Place For Your Cosmetics Products Business

Your Start Up Capital

This is crucial. Despite the fact that you can start small and grow your business subsequently, having a capital is very necessary. Depending on the size of your pocket, you can begin your cosmetics business with as low as N50,000. On a medium level you can start with N500,000 – N1 million, and on a large scale you can commence with N10 – N20 million and even above. There is no limit to how large you want your business to be.

Business Location Of Your Cosmetics Shop

Despite the high level of demand for cosmetics, your shop should be in a strategic location, where it can be easily seen by a large number and of people and equally accessible. You should always make your shop visible and accessible. They shouldn’t be tampered with as that is crucial to the success of your business.

The importance of advertisement to a business venture can never be overemphasised and cosmetics business is not left out. They way you advertise your shop and products matters a lot. It makes people aware of your shop and products thereby increasing patronage Your advertisement can be made via different social media, world wide web, fliers, newspapers etc. Even telling neighbors, family, and friends is a sort of advertisement.

The way you display and show case your goods is another form of advertisement. So display and arrange your goods in a beautiful and attractive manner so as to attract customers and help in the success of your business.

Create Sections in Your Cosmetics Shop

It is not bad to be specialised in an area of cosmetics. But to increase profits, you can deal in a variety of them and maintain order by dividing the shop into sections. For example, you can set up the hair extension section, the skin care section, the personal care and toiletries section etc. This will make your shop more attractive.

Where To Buy Your Cosmetic Products

There are various markets in Nigeria where you can purchase your products to sell. They include; the Mushin market, the Dosunmu market in Lagos Island, Balogun market also in Lagos Island, Trade Fair market along Badagry Expressway, all located in Lagos State. Also there are distributors of skin care and hair care products, known for quality and originality they include; Bicu shop at Apongbon street Lagos Island, Dupe cosmetics at Moshalashi street in Lagos Island, Kudi cosmetics in Balogun market Lagos Island.

Nothing stops you from being a distributor if you wish to be one. To be a distributor you have to buy directly from the manufacturers. This however implies that you need to have a huge amount of money to use as start up capital. Also bear in mind that these companies have varying procedures so you will need to follow due processes like locating their office address, registering with the company at a cost and some other procedures of that particular company. introduced by the company. So if you really want to be a distributor, make your decision on the company or companies that you wish to be a distributor for, conduct your research on their procedures, terms and conditions and if you consider them favourable, then you are good to go.

The Profit Margin In Cosmetics Products Business

It has being said a lot of times in this article that the cosmetics business is very lucrative. With as low as N50,000 you can start the business and be sure of good profit at the end of the month. Just get your capital, have a good shop at a very strategic location that is very visible and accessible, buy your products, apply everything you have come across in this article and you are on your way to making good profit.

TABLE OF CONTENT FOR COSMETICS BUSINESS PLAN IN NIGERIA PDF

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SAMPLE BUSINESS PLAN FOR COSMETICS BUSINESS.

2020, SAMPLE BUSINESS PLAN BY AKAMPURIRA BRIAN

This plan is to set up a cosmetic shop in the name of " Briox Cosmetics Enterprise ", which will be located in Easy View Arcade Garage street Mbarara. The cosmetic shop will be a sole proprietorship owned by Akampurira Brian. I will use startup capital of 52,380,000 Uganda shillings. UGX 34,380,000 will be owners’ equity and the remaining UGX 18,000,000 will be a bank loan which will be secured from centenary bank at 10% interest rate. The key personnel at the cosmetic Enterprise will include Senior manager, buying inputs and overall supervisory work, operations and production staff, sales and marketing staff, skin therapy and hairdressing staff, record keeping and accounting, stock control and direct selling staff The key objective of the cosmetic shop will be to provide fresh quality cosmetics to our clients to enable them improve their general skin beauty, to obtain maximum customer satisfaction through continued quality production, to obtain continuous production and supply of our products to the customers, to create customer loyalty to our products such that they become well pronounced in the customer minds. To achieve our objective, the cosmetic shop will employ strategies such as: Offering quality, body skin lotions, oils and herbal cosmetics that help fight the skin diseases made from fresh fruit and vegetable which are nutritious through adequate research and proper mixture of the lotions, oils and herbal ointments to meet the standard skin contents and characteristics of customers in the market through advertisement by use of sign posts, direct selling and radio stations, offering special incentive to our regular clients, offering our cosmetics at relatively lower prices for market penetration, creating a conducive environment for our clients, employing people who understand the meaning of customer care and meaning of quality by giving them samples for use as a way of expanding our markets especially among the young children, youth and women. All this encompasses our strategies that include, communication strategy, supplier relationship strategy, marketing strategy, competitive strategy and human resource strategy. The vision of the cosmetic shop will be ‘To be the leading suppliers of quality, fresh and health skin booting cosmetics product’ Our mission will be, dedicated at improving the skin health and body look and appearance of our client. "We seek to become the recognized leader in our targeted local and international market for carrying a diverse line of in demand cosmetics including perfumes, makeup, and other accessories that will have a competitive edge towards customer satisfaction and retention at attractive prices. Our major customers will be corporate employees, students, market vendors, tourists and retailers who will be consuming a range of our products including; Perfumes 1st class, Lemon body lotion, Hair relaxer cream, Avocadoes body cream smoother and Hair glow. Our forms/ ways of distribution will include, through Retailers, distributors and wholesalers who will buy and sell in bulk to our final customers which we cannot sell to directly we shall also sell directly to the customers because we have a high customer traffic at our main outlet in Mbarara. We shall as well be using a van that will be leased to distribute to our customers who order in large quantities. In terms of our legal responsibilities, the following taxes apply to our business, sales tax, employees’ income tax, national social security fund and Mbarara Municipal Council Tax and other licenses like trading license, and Uganda National Bureau of Standards license. We shall as well need to the insurance for our business and also carry out other social responsibilities like corporate social responsibility, being environmentally friendly, and ensuring cleanliness of Mbarara town. Our products are costed and priced after comparison with our major competitor’s prices and costing information acquired through market research. We have as well carried out cash flow estimates to ensure that our business does not run out of cash. Our startup capital has been allocated to what we intend to start our business with that is renting building for two months, buying machines for mixing the inputs, Machines, leasing van, buying furniture and fittings, massage equipment, cloths and uniforms and other necessary things to start with including the employee salaries for the first two months. This plan will be effective on 1st January 2018 and that is when my business will begin in Mbarara Easy View Arcade.

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