Hair Extension Business Plan in Nigeria

MHair Extension BUSINESS PLAN IN NIGERIA

Hair Extension Business Plan in Nigeria

 

This sample Hair Extension Business Plan in Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Notes, Competitions, etc. Hair Extension Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.

Business Description of Hair Extension Business Plan in Nigeria

Business: HAIR EXTENSION

Industry: Beauty and wellness (Hair Extension Business plan in Nigeria)

 

Patilad Hair Extension is an existing hair extension company located in Abia State. Having been in existence for the past five years, our services are well-accepted in our locations and across Nigeria. We retail and sell synthetic hairs, human hairs, and all hair extension-related products. Also, we train young people and anyone interested in learning about the business.

Hair for women is an essential part of their total self-image. Today, many women find themselves devoting countless hours to trying to hide their hair loss problem while also attempting to maintain their self-esteem. In this regard, the human hair industry is offering solutions through hair extensions and wigs.

Market survey:

The global hair wigs and extensions market size was valued at USD 5.8 billion and is expected to reach USD 13.3 billion by 2026, growing at a CAGR of 13% during 2021–2026. Generally, hair extensions are widely used in various cities. These hair extensions are called artificial hair, added to natural hair either as weaving or wig. The increasing consciousness about look or appearance among consumers is increasing the demands of the global market. Hence, the global hair extensions market is bringing immense opportunities for manufacturers or producers to offer various hair extension products.

Patilad Hair Extension will ensure that all our customers are given first-class treatment whenever they visit our hair extension store. We have CRM software that will enable us to manage a one-on-one relationship with our customers no matter how large the numbers of our customer base may grow.

At Patilad Hair Extension, our competitive edge lies in the fact that we make available a variety of products that our customers are free to choose from. Our excellent customer service, various payment options, and highly secured facility will serve as a competitive advantage. We target audiences which include wholesalers, retailers, hairstylists, women, and hair extension lovers.

Problems Statements:

  1. Market Saturation:

    • The hair extension industry is becoming saturated, leading to increased competition among existing businesses and new entrants.
  2. Changing Consumer Preferences:
    • Rapid changes in consumer preferences for hairstyles and trends may lead to fluctuations in demand, making it challenging to predict and meet market needs effectively.
  3. Supply Chain Disruptions:
    • Dependence on international suppliers for human and synthetic hair exposes the business to potential supply chain disruptions, such as political, economic, or logistical challenges.
  4. Quality Control Issues:
    • Ensuring consistent quality in both synthetic and human hair extensions poses a challenge due to variations in source materials and manufacturing processes.
  5. Training Accessibility:
    • Access to quality training for individuals interested in the hair extension business may be limited, hindering the growth of skilled professionals in the industry.
  6. Customer Relationship Management:
    • Maintaining personalized customer relationships becomes challenging as the customer base grows, risking a decline in customer satisfaction and loyalty.
  7. Security Concerns:
    • Ensuring the security of the facility and customer data is crucial, especially with the rising threat of cyber-attacks and theft.

 

Solutions Statements:

  1. Diversification and Innovation:
    • Patilad Hair Extension will continuously innovate and diversify its product offerings to stay ahead of market trends, ensuring a unique value proposition for customers.
  2. Market Research and Trend Analysis:
    • Implement a robust market research strategy to analyze and anticipate changing consumer preferences, enabling the business to adapt and introduce new products accordingly.
  3. Diversified Supplier Network:
    • Establish partnerships with multiple and reliable suppliers, including local sources, to mitigate risks associated with supply chain disruptions and ensure a steady inventory.
  4. Quality Assurance Protocols:
    • Implement stringent quality control measures, including regular audits of suppliers and in-house testing, to maintain high-quality standards for all products.
  5. Expansion of Training Programs:
    • We also expand training programs for aspiring hair extension professionals, both online and in-person, to increase accessibility and foster skilled individuals in the industry.
  6. Integrated CRM System:
    • Leverage the CRM software to maintain personalized interactions with customers, ensuring effective communication, and utilizing customer feedback to enhance services.
  7. Advanced Security Measures:
    • Invest in advanced security systems and protocols to safeguard both physical premises and digital data, ensuring customer trust and compliance with data protection regulations.

The benefits of our products and services are:           

  • 100% original and high-quality hair
  • Varieties of hair extensions range from colors to sizes and types.
  • Excellent customer service
  • Affordable and discount prices

 

 

Our products and services:

Patilad Hair Extension is into the sales of wigs and hair extensions. Our products are gotten from top manufacturers across the world. We carefully select our suppliers, ensuring that all hair ordered by our customers is delivered on time. We also offer training on the hair extension business to young people who want to learn. Our products and services include;

    1. Synthetic Hair Sales:
      • We provide a diverse range of synthetic hair options sourced from top global manufacturers. Our carefully curated selection ensures quality and style diversity for our customers.
    2. Human Hair Sales:
      • Our collection includes high-quality human hair sourced from reputable manufacturers worldwide. Customers can choose from a variety of textures, lengths, and styles to suit their preferences.
    3. Hair Extension-Related Products:
      • Likewise, in addition to hair, we offer a range of accessories and essentials such as wig stands, ensuring our customers have everything they need for proper care and styling of their hair extensions.
    4. Home Delivery Services:
      • To enhance customer convenience, we provide efficient home delivery services, ensuring that our customers receive their orders promptly and in excellent condition.
    5. Training Programs:
      • As part of our commitment to skill development, we offer comprehensive training programs in the hair extension business. This service is tailored for young individuals aspiring to learn and excel in the industry.
    6. Consultancy Services:
      • We provide consultancy services to guide individuals and businesses in the beauty and wellness industry. Our experts offer insights, advice, and strategies to help optimize operations and foster business growth.

Keys to Success:

The keys to success for the Hair Extension business include:

    1. Quality Products:
      • Delivering consistently high-quality hair extensions and wigs ensures customer satisfaction and establishes the reputation of Patilad Hair Extension as a reliable source for premium hair products.
    2. Good Customer Service:
      • Prioritizing excellent customer service builds trust and fosters positive relationships. Responsive and attentive service contributes to customer satisfaction and loyalty.
    3. Trust and Loyalty:
      • Building trust through transparent transactions and reliable deliveries fosters customer loyalty. Repeat business and positive word-of-mouth recommendations are essential for sustained success.
    4. A Large and Beautiful Hair Shop:
      • Maintaining a spacious and aesthetically pleasing retail space enhances the overall customer experience. A well-organized and visually appealing shop contributes to a positive brand image.
    5. Competitive Pricing:
      • Offering competitive and fair pricing ensures that customers perceive value in Patilad Hair Extension products. Strategic pricing strategies contribute to market competitiveness and customer retention.

 

Objective for Hair Extension Business Plan in Nigeria:

  • To create beauty in women’s hair
  • To provide quality and original hair extensions
  • To be the best choice for hair extensions
  • Have at least 70% of recurring customers
  • To offer excellent customer service

Goal:

To be known as one of the top ten Hair Extensions within the next five years.

Vision:

Our vision is to become one of the leading brands in the hair extension retail store in our location and across Nigeria.

Mission:

  • To build a world-class Hair Extension that will make available a wide range of quality hair extension products.
  • To offer quality hair extensions to all our clients at affordable rates
  • To ensure we meet our customer’s satisfaction
  • To build students to become professionals in the hair extension business.

Hair Extension Business Plan in Nigeria

Management Team:

Folorunsho Abraham – He has over ten years of experience in the Hair Extension industry. He is a professional in the industry, having worked with top hair extensions in Nigeria. He will be in charge of day to day activities of the business.

 

Mr. Dayo Adetiloye – (B. Agric., MBA, and PMP): He has over 15 years of experience in business management, business start-up dynamics, financial management of business, and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.

 

Gbolagade Mariam: She is a professional hairstylist and trainer with seven years of experience in the industry. She has attended several trainings, seminars on hair extensions. She is in charge of sales, marketing, and training.

 

We brought to the business:

  • Practical experience in the Hair Extension business.
  • Professionalism in the Industry
  • Quality hair extension product and a good understanding of the market trend.
  • Our staff brings operational, marketing, and promotional skills to the business.

 

Read Also: Foodstuff Business Plan in Nigeria

 

Management experience gained:

With over 10 years of experience in the Hair Extension business and numerous exposure to practical aspects of services, I’ve been able to master the technical requirements, financial management, staff recruitment, and organization skills, among other things necessary to give the industry good commendation from our clients.

Moreover, my managerial skills have also helped put together a workforce for over 5 years, which will also help me coordinate the teamwork in most aspects of the company.

I am the CEO of the company overseeing the day-to-day activities of the business.

 

Materials and Machine:

A large space, industrial generator, lighting, mirror, table, chairs, wig stand, hair mannequins, display cases, nylons for packaging, show glass, and so on.

 

Customer Attraction Factors:

  1. Original and High-Quality Hair Extensions:
    • Our customers choose us for the assurance of genuine and superior-quality hair extensions. We source original products from reputable manufacturers to guarantee the finest hair experiences.
  2. 100% Guarantee and Refund Policy:
    •  Offering a 100% guarantee and refund policy demonstrates our commitment to customer satisfaction. It instills confidence in our clients, assuring them that their investment is protected and their expectations will be met.
  3. Affordable Prices and Discount Offers:
    • We pride ourselves on providing affordable prices without compromising on quality. Our regular discount offers further enhance the value proposition, making our products accessible to a wide range of customers.

 

Key Competitive Advantages:

  1. Original Hair Extension:
    • Our emphasis on originality sets us apart in the market. Customers can trust that they are getting authentic and top-tier hair extensions, ensuring a positive and satisfying purchase experience.
  2. 100% Guarantee and Refund:
    • The strength of our business lies in the unwavering commitment to customer satisfaction. The 100% guarantee and refund policy underscore our confidence in the quality of our products and the importance we place on meeting customer expectations.
  3. Affordable Prices and Discount Offers:
    • We maintain a competitive edge by providing high-quality hair extensions at affordable prices. Our regular discount offers not only attract customers but also foster loyalty, making us a preferred choice in the market.

 

To buy the remaining part of this business plan, including the detailed financial analysis, call any of our business plan consultants on 08105636015, 08076359735, and 08113205312. You can send a WhatsApp message or email us at dayohub@gmail.com or info@dayoadetiloye.com.

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