The laser hair removal industry is thriving. The medical procedure involves using specialized laser equipment that can eliminate hair that is unwanted for cosmetic or other reasons. One of the advantages of this business is the fact it offers services to men and women. However, because the industry is thriving there is intense competition. The industry is also highly regulated so one of the first steps in the business startup process is researching the state and local licensing, permits, certification and staff educational requirements. In some states, the requirements are fairly complex so the business plan needs to identify each one and explain how each will be met. In most cases, a licensed medical doctor must either perform the procedures or closely supervise trained staff. However, there are also certification requirements for staff working in the clinic. For example, the Society for Clinical and Medical Hair Removal is an international nonprofit that certifies a number of allied health professionals that include estheticians, nurses, electrologists, and others. The laser hair removal business plan is the document used as guide for business operation by the business owner and to support funding requests submitted to lending institutions, equity investors, and private investors. Important information includes:
• Whether the business will be located in a shopping center, medical office building, spa, or free-standing clinic and how the location will attract upscale clients who typically take advantage of these luxury treatments (i.e. Is it located in an area of town where population demographics match targeted clients?)
• Staffing requirements and staff credentials needed to meet legal requirements and to provide clients with top quality services
• Services offered, including laser hair removal, waxing, electrolysis, and microdermabrasion
• Products sold including home body waxes, creams, lotions, and other skin care products
• Laser and other equipment needed and how the equipment will be purchased, i.e. lease, purchase, etc.; name the manufacturer and show proof the lasers are approved by the Federal Drug Administration; also describe contracted purchase terms, payoff period, and other appropriate information like equipment maintenance agreement
• Management experience in using laser technology in a safe manner
• Marketing plan to reach the segment where clients are most likely to be found, i.e. contacting local spas and medical practices specializing in cosmetic procedures that do not involve laser technology; website marketing; direct mail; billboards, etc.
Our support in development of the Laser Hair Removal Business Plan
There are always risks associated with any business involving human contact. The laser hair removal business needs to be adequately insured, Also, there should be a thorough analysis of the competition and identification of what sets the new laser hair removal business apart. The business has to have a well-defined competitive edge before investors will be willing to risk funding the business. OGS Capital (https://www.ogscapital.com/) consultants are experienced in developing laser hair removal business plan that is unique to each enterprise. The process begins when new clients complete the simple contact form.
Illustrative business plan samples
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.