Tattoo Removal Service Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Tattoo Removal Service Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Tattoo Removal Service business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be available for download after your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Some people regret tattoos that they got when they were younger or have put in the name of someone on their body who is no longer part of their life. As such, tattoo removal services have become popular over the last 20 years especially since the technology has improved substantially and the cost and pain associated with removing a tattoo have declined substantially. For most, it should be noted that in some states it is required that a medical doctor – usually a dermatologist – is the one that removes a tattoo. However, some states allow trained and licensed professionals that are not medical doctors to engage in this type of service from the general public.
As such, it is important to ensure that you operate within the letter of the law if you are developing a tattoo removal service. Most importantly, an attorney can be hired to determine which regulations your business will need to do here too if you provide tattoo removal services. The startup costs associated with the new tattoo removal service typically range anywhere from $50,000 to $150,000 depending on the area in which the business is going be located. Many of these services are provided by medical spas that are properly licensed to render the services. The biggest expense associated with the development of a new tattoo removal service is typically the acquisition of the laser equipment that is necessary to provide the service. It should be noted that most banks and lenders are willing to provide the necessary capital for tattoo removal service given the fact that these services are in demand at all times. Additionally, there are a number of finance companies out there that allow for the procedure to be financed directly by them in conjunction with third-party service provider. Many tattoo removal service companies have begun to use these types of businesses given the fact that they are able to very quickly obtain their customer base.
A tattoo removal service SWOT analysis is typically produces well in conjunction with a business plan, operations manual, and marketing plan. As it relates to strengths, tattoo removal services are relatively immune from negative changes in the economy, and they provide very high gross margins from their services. Typically, the gross margin is generated from tattoo removal range anywhere from 80% to 90% depending on whether or not financing is provided or whether credit cards are accepted. These businesses enjoy moderately high barriers to entry – especially in states that require that a medical doctor provides a service – and in states where they do not, there is a substantial amount of licensure that is required to operate as a tattoo removal specialist.
For weaknesses, these businesses are in continued competition with one another and a medical spa or dedicated tattoo removal service needs to find ways to differentiate themselves from the general public. This is usually accomplished by having highly skilled practitioners as it relates to operating equipment that removes tattoos. It is also very important that the tattoo removal service you state-of-the-art equipment in order to reduce the pain associated with removing ink from skin.
For opportunities, the quickest way that most tattoo removal services grow is by developing ongoing referral relationships with tattoo artists concurrently aggressively marketing to the general public. Many tattoo removal services will also establish additional locations that will allow for greater number of service providers.
For threats, a major economic recession can impact the revenues of the tattoo removal service given the fact that it is a service that is purchased with discretionary income. This risk can be stymied by having financing programs available to customers that want to have a tattoo removed immediately. It should also be noted that one of the threats faced by these businesses is a potential change in regulation that will require that a medical doctor provide tattoo server removal services only.
Given that this is a relatively economically stable business, most financial institutions will provide a working capital one credit, equipment lease financing, or a business loan in order to launch operations. Of course, a tattoo removal service business plan is going to be required in this document should feature a three-year profit and loss statement, cash analysis, balance sheet, breakeven analysis, and business patients page. Industry research, there are approximately 2,000 locations that provide tattoo removal service and they generate about $100 million a year. The industry employs about 4,000 people. It should be noted that these industry statistics do not include medical professionals – like dermatologist – provide the service as part of their overall practice.
A comprehensive demographic analysis should also be developed so that inappropriate marketing campaign can be implemented at the onset of operations. Almost 25% of people have a tattoo, and a substantial number of people to have some issue regarding the tattoo that they got. As such, the target market in any rural, suburban, major metropolitan area for tattoo removal services is pretty substantial. A demographic analysis that showcases the population size, population density, percentage of people tattoos, annual household income, and any other relevant statistic should be included within the business plan as well. The development of this demographic analysis is extremely important especially the entrepreneur is going to be sourcing capital from a financial institution or private investors.
The tattoo removal service marketing plan needs to encompass an aggressive online marketing strategy that includes the development of a proprietary website coupled with an expansive social media presence. Most importantly, these businesses need to have a website that showcases hours of operation, services rendered, preliminary and from pricing information, whether or not financing is offered, and how to book an appointment with a tattoo removal specialist. Many of these websites will have e-commerce functionality embedded that allows them to book appointments directly from the website. This is important given that many people skip through a number of websites and by having this e-commerce functionality sales can be made very quickly.
Pages on social media platforms such as FaceBook, Twitter, Instagram, Yelp, and LinkedIn are also very important. Instagram and FaceBook are especially important given the fact that these platforms allow for the seamless upload of images. With client permission, some people will upload their previous work so that potential customers can see the quality of the tattoo removal specialist services. Yelp and other review websites will allow previous clients to showcase from reviews to people that are potentially entertaining using the company services. It should be noted that the marketing campaigns associated with online advertising are relatively loan expense and the return on investment can be phenomenal. Most importantly, one of the other ways of these businesses will generate their initial revenues is by developing referral relationships with tattoo artists with the target market. This is important given that many people who are seeking have a tattoo removed will initially go to a tattoo artist to see if the image can be restructured. In cases where cannot, referral to a tattoo specialist can be made. As such, these ongoing referral relationships can be an invaluable source of business for a new tattoo removal service.
People will always regret getting certain tattoos, and as such tattoo removal services are always to be and continue demand. For a skilled entrepreneur this can be highly lucrative small business opportunity that allows for limitless growth given that additional locations and additional tattoo removal specialist can be hired in order to use the revenues the business. It is expected that many of these businesses will see an uptick in growth especially as people in the millennial generation enter their 30s and 40s and want to have youthful indiscretion tattoos removed.