BEAUTY SALON BUSINESS PLAN TEMPLATE
Starting a beauty salon business requires having several things in place. However, you need to have acquired the necessary skills before thinking of starting one.
Apart from having the necessary skills, there are other equally important requirements you need. Owning a salon and being employed in one as hairstylists are two different things. Having to put together an effective business will require more than skills to achieve that. To put in place a strong business structure, you will need a business plan.
The business plan is a template for your business and will be most effective if well written and fully implemented.
This beauty salon business plan sample seeks to provide a guide for persons interested in starting a beauty salon. Its contents will also be of immense help to those considering career opportunities.
Here is a sample business plan for starting a home-based beauty salon.
The Executive Summary
Beauty Trends is a full-service beauty salon business located in Las Vegas which seeks to provide clients with excellent beauty services at affordable prices and in a cozy and relaxed environment. Products used for our beauty care will be carefully selected and will include only the best in the market. Our services are personalized in their design. This is to enable each client to have a feel of importance as well as benefit from our top of the range services.
Our stylists are professionals with impressive years of service in the beauty care industry. These set of professionals bring their expertise to bear on the job, thereby resulting in highly satisfied clients.
Beauty Trends is a partnership entered into by Sue Stevens and Judy Griffin both beauty experts with a combined experience of 50 years in the beauty care industry. As experts who have been part of the changes that have occurred in the industry, they are poised to bring their expertise to bear on Beauty Trends.
At Beauty Trends, all our services are woven around our clients as we strive to give them the best experience. This will not only be limited to the beauty services provided but also giving them optimal comfort during their session.
This is to enable them to have an unforgettable experience and to look forward to their next visit. Hence our mission is to be among the top providers of beauty care services in Nevada.
Beauty Trends seeks to be among the top 10 beauty salons in Nevada within a decade from the date of commencement of business. This is an achievable goal that will see us adopting the best industry practices in providing unbeatable beauty services to our clients.
Being a long-term goal of both Sue Stevens and Judy Griffin, they have been able to put together 25% of the required funding amounting to the sum of $125,000 of the required sum of $500,000. The rest will be raised through a loan arrangement with Citibank of which both partners our clients. This would be used for renting an office space, purchasing the necessary equipment and payment of salaries for the first 3 months.
We have done a survey of the beauty care industry in addition to current trends and how it affects profitability and have come up with impressive projected revenue that will see sales rising steadily over 3 years. This has been summarized in the chart below;
- First Year $200,000.00
- Second Year $600,000.00
- Third Year $1,200,000.00
We fully understand that we are coming into an industry with stiff competition as well as the likelihood of facing competition from established beauty industry names. However, we are not distracted by this as we view competition as an opportunity to excel through the provision of exceptional services. These services will be driven by experts with many years of experience which would be deployed to our advantage. Our research department will constantly develop superior services that will give us an edge in the beauty market.
In addition to these, our services will be personalized and each client treated on an individual basis with their needs carefully and professionally attended to.
Publicity and Advert Strategy
This will be taken seriously by us, given its importance to the growth of our business. We will be adopting a wide array of publicity and advert strategies that will include the use of the mainstream media; by placing paid adverts in both electronic and print media channels, as well as printing handbills for distribution, paying for billboard ads and spaces located at strategic locations as well as the use of social media channels to spread the word about our services.
We realize the importance of word of mouth marketing and how effective it has remained over the ages. Hence we will encourage our satisfied clients to do us a favor by spreading the word about our business. However, this will not come without rewards as we are will offer a one-time 50% discount on beauty care services for clients who bring in a new client. This will be repeated as many times as a client continues to bring in new clients.
We have come to the understanding that clients in many cases have problems with available payment methods for services offered. Hence we have eliminated this problem by integrating a variety of payment methods that include POS payments, bank transfers, receipt of checks and cash, mobile banking services as well other new methods which will be introduced into our payment channels subsequently.
This beauty salon business plan sample has provided a guide for persons having difficulties in preparing a sound business plan for their beauty care businesses. Using this as a guide, you will be able to avoid common mistakes people make with their business plans which more often than not hurts their businesses.