Skin Care Business Plan Template [Updated 2024]

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V. Competitive Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

Kim’s Skincare
Kim’s Skincare is a beauty and cosmetic retailer which provides a wide variety of skincare and healthcare products. Kim’s Skincare offers an ideal skincare routine and foundation that can best suit the customer’s skin according to skin type. Kim’s Skincare formulas are full of powerful ingredients proven to create flawless skin, and choose to avoid using allergens or irritants that could harm the skin.

Kim’s Skincare focuses on national and regional manufacturers that sell a wide variety of products. It generally has low and medium-priced options for each type of skincare product. They do not sell at least 75% of the high-end products that [Company Name] plans to carry.

Alta Beauty
Alta Beauty provides organic beauty products and utilizes sustainably grown plant ingredients that are clinically proven to care for customers’ skin, such as calendula, aloe vera, avocado, shea butter. The Company offers multiple products ranging from skincare, organic health care, organic body care to sun protection. It also provides skincare products for babies.

However, Alta Beauty is not seen as a place to shop for skincare product range that uses artificial preservatives. The majority of shoppers are price-conscious, who shop based on sales and discounts offered. Others dislike Competitor 2 for the long waits at checkout within the store.

Caress Skin and Beauty
Caress Skin and Beauty is targeted towards typical maternity and pregnancy-related issues such as hormonal acne, melasma, and stretch marks. Using only certified organic and sustainably sourced, plant-based ingredients, the brand creates powerful botanical formulas that are pregnancy-safe and gentle on the skin. Caress Skin and Beauty also offers body butter, oils, and scrubs.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • High-Quality Ingredients: [Company Name] uses pure ingredients and continuously strives to improve its products offerings as per customer demands. The skincare products do not contain any harmful chemicals. Instead, the company uses advanced organic and natural preservatives that cause no harm to the skin.
  • Management: The Company’s management team has years of business and marketing experience that allows them to market and serve customers in an improved and sophisticated manner than the competitors.
  • Relationships: Having lived in the community for xx years, [Founder’s Name] knows all local leaders, newspapers, and other influencers, including the local leaders who fought the [Competitor] opening two years ago. It will be relatively easy for the company to build branding and awareness of the store and establish several product lines.
  • Sustainability: [Company Name] will be a zero-waste company with its plastic-negative packaging. It will maintain its eco-friendly status while scaling up to meet demand.
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