Industry • Best Practice
How to Edge Out the Competition With Your Brow Business Plan
Jul.18.2023By Boulevard Staff
Make sure your eyebrow threading business is shaped for success
Going into the brow business? Before you can get to threading, tinting, and otherwise perfecting your clients’ eyebrows, you’ll need to create a business plan that ensures you and your team have a roadmap for achieving your goals.
Admittedly, writing a business plan may not sound like the most exciting thing, but it can be a creative endeavor (promise!) and will serve you well in the long run. Having a North Star for your vision will help you make future decisions, secure capital, and figure out how to grow your business.
What to include in your lash and brow business plan
Here are the key sections to consider adding to your eyebrow threading business plan.
Start your plan with a quick summary of the vision you have for your eyebrow threading business. The word “executive” may conjure up stuffy suits and PowerPoint presentations but it’s more of a cover page for your business idea — keep it to a few paragraphs and use them to briefly describe the services you’re going to provide, who you’re going to serve, and a mission statement if you have one.
Figure out who your clients are going to be or if you’re still deciding on a retail location, who you’d like them to be. What are their demographics, age, income level, and preferences? Are you planning to cater to trendsetters or people who prefer a more natural look? Most brow businesses will focus on serving a wide range of clients, but your dominant demographic will help guide your branding, ethos, and marketing strategy (which we’ll get into in a bit). Once you know your target market a bit better, summarize some key points about them and how your eyebrow threading business plan addresses their wants and needs.
Before you sign the lease on your chosen retail location, you’ll want to do some sleuthing and find out how many businesses in the area are providing similar services. Keep in mind that hair salons, medspas, facial bars, and other types of self-care businesses may provide brow threading or lash extensions even if they’re not referring to themselves as a “brow business.” You’ll need to outline the scope of your competition in your business plan and then address how you’re going to differentiate yourself.
Your market differentiator
Describe how your client experience (more on that in a bit) will make you stand out from the sea of brow bars. Your services will likely be similar to those of other salons, but your branding, messaging, and community are your own. Find unique ways to make your clients connect with you, whether that’s going out of your way to support a particular community, rallying around a specific message (e.g. brow and lash health), or simply providing the most luxurious experience and outstanding client service. Describe what makes you different and how you’re going to manifest (and no, we don’t just mean journal about it, though that’s a good place to start) this market differentiator in your business ethos.
As mentioned earlier, a great client experience can make clients, investors, and your team choose to support your brow business over others time and time again. But there’s more to it than booking an appointment, performing a service, and moving the client through the checkout process. Think about all the touchpoints a client has with your business, from the moment they spot you on social media, to booking an appointment, to preparing for service, to thoughtfully recommending aftercare products during service, to a seamless checkout and reminders to schedule the next appointment. You get many more opportunities to leave a great impression than you probably realize, so make sure to capture all these moments and think about ways to make them unique. FWIW, we wrote an entire mini-guide dedicated to delivering the best client experience possible, give it a look! Detail all the client journey touch points in your business plan.
Well…you knew it was coming. There needs to be a financial section in your brow business plan, maybe with a graph or two. Consider driving this section into start-up costs, how much capital you’ll need (if you’re planning to get a loan), projected revenue over the next few years, as well as when you expect the business to be profitable. Consult with an accountant certified in your state, preferably one that has experience working with small businesses, to figure out the specifics and go through your current financial situation. It will make the entire process much less overwhelming and ensure you have all the correct numbers on hand!
Key equipment and labor needs
You’ll also want to add a brief overview of the essential needs of your business, including physical equipment, such as spa chairs and cleaning supplies, and back-of-house support, like a reliable client experience platform, internet provider, and cleaning staff. You’ll also want to give rough estimates for how much you expect to spend on each product or service.
If you’re planning to have employees, this is also the section to outline your staff needs (how many employees you’re looking to hire, and whether they’ll be working as independent contractors or W-2 employees).
Next on the agenda is figuring out how people will find out about your business. If you’re planning to invest in salon software, look for one that offers marketing features, such as the ability to book clients online and send email reminders. This section can also outline how you’re going to set up your social media channels, and your opening day marketing plan, including soft launches, community events, or grand openings. If you’re planning to set up a membership program, this is also a great place to draft out a basic outline and requirements for participation.
Going through all of these sections will sure to lead you to a stellar brow business plan you can return to when you’re wondering what’s next for your business. Need more inspiration? Check out our guide for first-time salon owners.