Hair salons provide everyone with services to clean, condition, strengthen, cut, style, and color their hair, anyway they like. Hairdressers or hair stylists are responsible to beautify people to transform their looks and boost their self-confidence. Opening a hair salon, just like any other business requires a lot of work to do to officially start your business. A business plan can help salon owners start their business or improve their existing business since it will help them raise funds or market their salon. Read the article to find out how to write a hair salon business plan.
8+ Hair Salon Business Plan Samples
1. Hair Salon Business Plan Sample
2. Standard Hair Salon Business Plan
3. Formal Hair Salon Business Plan
4. Printable Hair Salon Business Plan
5. Hair Salon Business Plan Format
6. Creative Hair Salon Business Plan
7. Basic Hair Salon Business Plan
8. Editable Hair Salon Business Plan
9. Professional Hair Salon Business Plan
What is a Hair Salon Business Plan?
Even a hair salon needs a business plan to be successful in its operations. A business plan provides a preview of your hair salon currently and lays out your plan for the next five years or so of your business. It explains your business’ goals and your strategies to accomplish them. The business plan also includes market research and financial analysis to support your plans.
How to Make A Hair Salon Business Plan
1. Cover Page
The first page of the business plan is the cover page. It should include your salon or spa name, address, owners’ names, phone numbers, email addresses, and all other contact information.
Add a table of contents for reference to the section of the business plan to make it more polished and organized.
2. Executive Summary
This section is a synopsis of your business plan. It should include your company profile and goals over the next three to five years. Include 3-4 objectives that help you achieve your goals. The summary must not be more than a page long.
3. Company Description and History
This section is where you describe your company and its history comprehensively. Here is some sample information you can include in your company description:
- The products and services you provide
- What differentiates your business from other hair salons in your area
- Business location; its parking situation, traffic, demographic, and history of the area
- Your market or target audience
- How your hair salon benefits your customers and your community
- Your projected vision of your business in the next three to five years
4. Mission Statement
Your mission statement must encompass all elements of your salon operation including customer service, hiring and training staff, ordering inventory, merchandising retail, and marketing your business.
5. Management Plan
The next section is your management plan. It must identify your organizational, management, and staffing strategies.
6. Market Analysis
This section is the market analysis. It must include the information of your information about these topics:
- The hair salon industry
- Your market competitors and how their business is doing
- Market demographics for potential clients (age, gender, level of education, average income, and occupation, hair needs, likes, desires, and perceptions)
7. Marketing Plan
The marketing plan section should outline how your salon will be positioned in the market. Identify how your salon will appeal to your targeted clients and their individualized needs that you described in your market analysis section. Next is to set realistic objectives on how you will capture your target audience. This is how you will figure out how you can market your salon through merchandise, promotion, advertising, and public relations.
8. Financial Plan
This part of the business plan is the most complicated to do but it is the most important part of the plan. For the financial plan, identify first how much capital you have to invest in the business. If your salon is just starting, list all expenses to secure your lease or ownership of your salon facility, the permits you obtained, renovations you did to improve the place, the equipment you bought and installed, materials and ingredients you bought, and everything you need to start your business. If you’re expanding or remodeling your facility, list all your expenses and at the same time make a statement on how this project can impact your business.
Include then all other financial information including your budget, profit and loss statement, break-even analysis, projected cash flow, projected balance sheet, and a business ratio. Justify how you came up with these projections and include your research data and resources. Be very clear about which data is actual and which is projected.
What are the benefits of owning a salon?
There are a lot of benefits of owning a salon rather than leasing it; you have more freedom on how your salon looks and feels, you control your own schedule, and you make more money.
What are some important qualities of a hairdresser?
Hairdressers must listen well to their clients, must be creative, must have a wide knowledge and set of technical skills in hairdressing, and they should be able to adapt well.
Making a business plan might be a daunting task to do, but don’t put it off because you need to run your business well and you can use this for business proposals for partnerships and other business ventures. Don’t be too pressured to make your proposal. Take your time to think through every section. Ask a colleague or business partner to help you make your proposal. To help you get started, you can download our free sample templates above as your reference!
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