Barbershops have been around for a long time with quite a history behind it. Dating back to the the Greeks during 200 B.C. Barbers are often associated as hairdressers who specialized with men’s hair, since they are trained to cut shorter hair. Barbers differ with respect to where they work, which services they are licensed to provide, and what name they use to refer to themselves. Barbershops served as a men’s hair maintenance, as well as a place for socialism and discussion. If you wish to open up a barbershop or you see yourself in the barber’s trade, a barber shop business plan is the best way to start off. Read more about this in our article for today, and should you need any ready made templates go check out our barber shop business plan samples below:
6+ Barber Shop Business Plan Samples
1. Barber Shop Business Plan Sample
2. Printable Barber Shop Business Plan
3. General Barber Shop Business Plan
4. Professional Barber Shop Business Plan
5. Formal Barber Shop Business Plan
6. Standard Barber Shop Business Plan
7. Basic Barber Shop Business Plan
What Is a Barber Shop Business Plan?
If you want to start a barber shop or expand your current barber shop, you need a business plan. A barber shop business plan is a written document that consists of your shops core activities, objectives, and how it plans to achieve its goals. It is a road map that will guide you as you start up a barber shop business or it could help you make the necessary changes you need or expand your business. This may seem difficult to do but business plans are advantageous so you know where to start with your business and what to do.
How To Write a Barber Shop Business Plan?
There are several factors to consider when writing up a barber shop business plan. This entails research, studying the market, your competitors to the location of your planned barber shop. The following below are the different components you need to include to create a successful barber shop business plan.
I. Executive Summary
As you start to compose your executive summary, you can consider including the following components below:
- Business Overview: include a brief review of the barbershop industry, its economic trends and forecasts
- Mission statement of your barber shop, concise explanation of the organization’s reason for existence. It describes the shop’s purpose and its overall intention.
- Products and Services : indicate what products you intend to sell examples would be variety of treatments including haircut, shaving, coloring, and styling for special occasions. And of course the services you intend to offer to your customers.
- Customers : brief statement about the target market and potential customers
- Objectives and the key success opportunities
II. Company Overview
Create a business description for your barbershop, provide the name and location of your barbershop, and follow this information with the names and contact information of each of the shop’s owners. Identify the legal business description of the barbershop, such as a sole proprietorship or partnership. You can also add a bit of history if you are expanding your barber shop business. Then include a detailed list of the services you will be offering and the type of products and brands you will selling in your shop.
III. Industry Analysis
Perform an industry analysis by identifying industry trends, these are factors that alters the market where your company operates. Determine the market, customer and firm level trends.
IV. Customer Analysis
Since customers are the main source of your revenue and profit it is highly important to check what kind of market you need to tap on. Through customer analysis you can profile your potential customers, ascertain their needs, their customer behavior, then specify how our barber services and products satisfy these needs.
V. Competitive Analysis
A competitive analysis is a strategy where you identify major competitors and research their products, sales, pricing scheme and marketing strategies. Identify your barbershop’s competition and ascertain how your business stands out against that competition. Identify your shop’s advantage and weaknesses, and explain the steps your business will take to counteract its faults and build on its opportunities.
VI. Marketing Plan
Your marketing plan must include your marketing strategies and sales promotion plan. Outline the different marketing platforms you wish to use for advertisement. Develop your pricing strategy so it may come up as competitive in the market.
VII. Management Summary
Included in this section of your business plan are the following: Organizational structure in which you will need to describe the intended number of staff and their job roles. And the management team should consist names of the owners or stakeholders whichever is applicable.
VIII. Financial Plan
If you are about to start your barber shop business, outline your financial outlook. This should include key revenue and cost assumptions. If you have an existing shop include a personal financial statement, balance sheet, income statement and cash flow statement. Provide accurate information and figures when completing these statements and include supporting documents to verify the information, such as tax statements, receipts and bank statements.
Why Is a Business Plan Important?
For those who want to start up a new business or are currently preparing to expand their business, all these should start with a business plan. It is important strategic tool for entrepreneurs which helps focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.
What Is the Difference between a Salon and Barber?
Salon stylists are trained to cut longer, fuller men’s styles with scissors and offer other hair services. While barbers are more traditional as they cut more traditional hairstyles using clippers.
How Are Barbers Trained?
Professional barber often need to train for a year to fully grasp their profession. The training is available from specialized beauty schools and includes a written exam and a practical demonstration.
To have a successful and striving barber shop business, do not overlook your business plans. These documents can serve great purpose in the development and progress of your business for a number of years or so.
FREE 16+ Nonprofit Business Plan Samples
FREE 16+ Boutique Business Plan Templates
FREE 14+ Consulting Business Plan Templates
FREE 10+ Rental Property Business Plan Templates
FREE 10+ Sample Bar Business Plan Templates
FREE 9+ Immigration Business Plan Samples
FREE 8+ Distributor Business Plan Samples
FREE 8+ Distributor Business Plan Samples
FREE 8+ Sample Personal Business Plan Templates
FREE 7+ Sample Short Business Plan Templates
FREE 25+ Sample Construction Business Plan Templates
FREE 14+ One-Page Business Plan Samples
FREE 13+ Sample Software Business Plan Templates
FREE 13+ Sample Real Estate Business Plan Templates
FREE 13+ Sample Daycare Business Plan Templates