Wig 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

The following establishments are located within a 15-mile radius of [Company Name], thus providing either direct or indirect competition for customers:

Living Beautifully
Living Beautifully has been a popular beauty business in [Location] for the past five years. Living Beautifully is a one-stop shop for all beauty products, including hair care products and a select inventory of wigs and hair extensions. Many individuals obsessed with looking their best can find everything they need at Living Beautifully.

Jenna’s Hair Supply
Jenna’s Hair Supply is a small, locally-owned supplier of all things hair care. This includes organic shampoos, hair extensions, and a decent selection of wigs. People looking for wigs can find many styles and colors to choose from. The store also has a few hair stylists on standby who can help them clean and style their wigs as needed.

Glam Cuts
Glam Cuts is a popular and hip hair salon business located in downtown [Location]. People all over the city come here to get their hair cut and styled to keep up with current fashion and trends. However, in addition to its hair-cutting and beauty services, the salon sells a decent selection of wigs and offers styling services to perfect each wig for its customers. Many wig owners frequent Glam Cuts in order to style their wigs and get the best tips and advice to care for them properly.

Competitive Advantage

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

  • Management: Our management team has years of experience in the wig and hair care industries, which allows us to sell to and serve customers in a much more sophisticated manner than our competitors.
  • Compassionate Staff: Buying a wig can be a difficult experience for many of our customers. It can also be overwhelming to find the right style that makes each customer feel beautiful. Our staff understands these difficulties and works with every customer with compassion and respect.
  • Relationships: [Company Name] is dedicated to establishing long-term relationships with local beauty partners as well as our customers. We know that customers remain loyal to companies that work hard to establish a relationship with them. Therefore, we work hard to establish relationships with all of our partners and customers, treating them as friends or family.
  • Inventory: [Company Name] aims to own the largest and most diverse collection of wigs that can be found anywhere in [Location].
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