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Cosmetics Business Plan

5,000.00

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This is an already-made comprehensive business plan template that you can emulate to start your own cosmetics business in Nigeria. It was developed to help the business owner obtain a small business loan of N6,000,000 for her startup operations, while also showcasing the expected income over the next five years of successfully operating the business.

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INTRODUCTION

Nigeria has the largest economy in Africa with a population estimated at 173.6 million people. And as an emerging market, the rise in spending and growing sales in the beauty and personal care sector were valued at $595.8m in 2011, up from $439.8m in 2006. Economists predict that by 2016, Nigeria’s young yet increasingly sophisticated population will drive industry sales to $620.2m. This is not far-fetched as 77 percent of Nigerian women use skin enhancement products– the highest percentage in the world. In 2014, the industry reportedly generated over $35 billion with makeup owning a market share of 17 percent. Besides, there is also an expected market growth of over $42 billion in 2015 due to an increase in the construction of shopping malls, beauty, wellness, spa, and aesthetics centers across different cities in Nigeria.

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