BARBERSHOP BUSINESS PLAN SAMPLE
Starting a barbing shop is a way to make money anywhere there is a decent male population. Because you see a lot of these barbing shops around does not mean everyone is making money from it.
Apart from the need for expertise, you need some other factors to give reasons to people why they should prefer your shop to others.
For instance, in many big cities; many youths set up barbing saloon businesses to create wealth through self-employment.
Location is one major key you must get right if you want to make money from this lucrative investment.
Areas like densely populated streets, busy road junctions, inside male halls of residences in higher institutions, around campuses, etc are hot cakes when it comes to selecting a location for your barbing salon shop.
The planning phase of any business venture is the most crucial. This is so because the success of such a business depends on how well the plan is made and implemented.
Due to this fact, we will focus on a barbershop business plan. This is a small business idea that has seen increased interest among entrepreneurs.
As a result, our sample targets those wishing to start their barbershops. If you are one, you’ll find this sample very useful.
We have covered the most essential sections a good plan should have. Hence by using this as a template, you can put together a solid and implementable plan.
* Executive Summary
Exquisite Touch is a barbershop located in Oklahoma City, Ok. We will be providing a variety of hair care services. In addition to this, we will also be selling a wide range of hair care products.
Our target market is broad. This includes both genders as well as people from all age brackets. We are driven by professionalism with the main focus of taking care of our client’s hair grooming needs.
Our workforce has been carefully chosen to drive our vision. This vision seeks to position us among the top barbershop businesses in Oklahoma.
Our barbershop offers world-class services to all categories of clients. These services include; haircutting, dressing, dyeing, and grooming hair treatment services.
We also have a hair transplant section as well as hair styling and shaving among others. We’ll cater to all types of hair grooming needs. Our professional hair barbing services aren’t restricted to our location alone.
We also provide home services for our clients.
Similarly, we sell quality hair barbing and treatment products. We have paid great attention to quality and seek to make that our tradition. To achieve this, we have partnered with the best hair product dealers. As partners, we are focused more on distribution.
Hence, such hair products like clippers, hair oils, lotions dyes will be sold on a wholesale and retail basis. These products are recommended for all our clients.
Our mission at Exquisite Touch is to establish a world-class barbershop. This will be a place where customer service and satisfaction is given the highest priority.
For this to be possible, the quality of our workforce is vital. Hence we have committed time, effort, and resources to ensure we get the very best. These are people with significant experience in the field.
Our vision is to become a major player in the barbershop business in Oklahoma. We have set a target for ourselves. Within the period of half a decade, we should be able to achieve our goals.
This is the lifeline of our barbershop business. We have worked out ways through which our business will be funded. Thus, we will be raising the required funding from savings which has been set aside for this purpose.
The needed funding requirement is $150,000.00. This sum covers rent fees, equipment as well as running costs.
This is a critical assessment of our capacity to achieve our vision and goals.
Thus, we have hired the services of competent professionals to enable us to measure the following vital areas; a test of strength, weakness, opportunities, and threats.
Let’s consider each briefly;
This aspect of our analysis has turned out positive. The reason for our strong showing in this area is due to our location and quality of the workforce.
Our barbershop is located in a dense neighborhood. This is largely made up of young people. This segment of the market loves to look trendy.
This, we have positioned our business to meet and even exceed the expectations of such clients. We have done a lot of work with our workforce as well. These have been carefully chosen to fit into our vision of providing superior hair barbing and care services.
Identifying our area of weakness has enabled us to reassess our position. By so doing, we’ve been able to redouble our efforts towards overcoming such difficulties. Our major weakness is our present inability to get a fair share of the market.
Although this is the case, it is only a temporary setback. We plan on eventually overcoming such weakness through rigorous and effective marketing campaigns.
At Exquisite Touch, we are excited by the opportunities available for the taking. Although there is so much potential, a lot of work needs to be done.
Hence, we are well-positioned to take advantage of such opportunities. For instance, such opportunities are in the form of growth and the size of the market.
To sum up this area of our discussion, it’s important to know that threats are ever-present. However, such threats come in different forms.
Therefore for us, our threats are in the form of stiff competition. This will not be good for business, especially at our current capacity. Although such is the case, we are positive that we will eventually overcome it.
We have invested time, resources and manpower towards ensuring that we stay competitive.
Hence, there has been significant investment in equipment and customer service. These two areas coupled with our business model place us among the top providers of superior barbershop services.
We have also focused on the motivation of our workforce. This is necessary because they are the face of the company. Hence a well-motivated workforce will impact positively on our clients.
- Sales Projection
Through the provision of superior hair grooming services, we are positive that our set targets will be met. A projection of sales over three years was done to enable us to measure our progress.
This was set using current industry trends and the findings are summarized as follows;
- First Fiscal Year. $80,000.00
- Second Fiscal Year. $160,000.00
- Third Fiscal Year. $300,000.00
- Marketing and Sales Strategy
This is an important part of our business upon which our success is hinged. Therefore we have adopted multiple strategies of advertising our barbershop business. These include the use of tools such as banners and handbills, word of mouth as well as on online platforms.
There you have it! This barbershop business plan has been simplified to ensure easy understanding and implementation of its contents. As such, we are confident that you will gain a lot of insight using this as a guide.