No matter what size, everyone needs a business plan. Check out these tips on how to build—or revise—yours.
One of the most overlooked management tools for small business owners is the business plan. Not only is it useful in helping business owners obtain needed capital, but it enables the owner to do some valuable "big picture" thinking regardless of whether additional outside capital is needed.
Beauty Store Business attended the Independent Cosmetic Manufacturers and Distributors' 2014 Cosmetic/Technical Regulatory Forum March 6 at the Le Meridien Delfina in Santa Monica, California. One of the many topics discussed there was pending state legislation across the United States banning the use of plastic microbeads in beauty products.
After the event, we asked Myra Y. Irizarry Reddy, director of government affairs at the Professional Beauty Association—who also attended the ICMAD forum—for an update.
CFN Beauty Representation expanded to the West Coast as of Feb. 1, completing its goal of "offering the finest beauty manufacturers national coverage with a full-time team of experienced sales professionals," its co-owners have told Beauty Store Business.
"As distribution continues to consolidate, it is essential that we evolve to the expanding needs of our customers," says CFN co-owner Gary Fishkin.
This year’s retail-industry sales are expected to increase 4.1%, up from 3.7% in 2013, according to the National Retail Federation’s 2014 economic forecast. Furthermore, online sales are expected to grow between 9% and 12%. The forecast includes traditional retail categories, such as specialty stores.
Upscale beauty boutique Planet Beauty has refashioned and revamped its website, offering a myriad of innovative features and functions including: highlights of Planet Beauty best sellers; new arrivals; the ability to rate and review products; the chance to dream up one’s own Planet Beauty wish list (and send to potential wish granters); a quick and easy search function filtering by concern, ingredient, formulation and price; live chat with a Planet Beauty expert; and a brand-new community-page concept designed to keep Planet Beauty fans updated.