How to Write a Hair Salon Business Plan

This is a sample hair salon business plan that covers every aspect of the enterprise. Cummings Hair Salon is established as a partnership company.  Owners are Bruce and Betty white with equal startup of 50% each.
The husband and wife team are joint managers of the Salon. The plan includes company overview, product strategy and financials. Other parameters are vision statement, objectives, mission, and market analysis.
Vision and Mission Statement
The company is incorporated as a partnership and owned by two professionals. The salons theme is contemporary, urban and high tech driven. We will leverage on quality service, experienced professionals and effective marketing.
Our desire is to become the number one place in Detroit for hair products and services. The Detroit area has a huge population of people under 40. Therefore our target market are men and women ages from 17 to 45.
The salon will offer quality service and products at a competitive price obtainable in the industry. Cummings Hair Salon is focus on Hair products and services. We offer a full range of hair products from top brands that are natural and ecofriendly.
The range would be carefully selected to offer first class products to customers. We will add a retail station to the hair center to earn from both services. We expect product retail to earn about 30% of our income.
To reach customers we will use aggressive marketing within our immediate locality. The startup company will leverage on popular products. Betty is a trained cosmetologist while Bruce a qualified hair dresser.
The duo are committed to environmentally friendly products good customer service. Added advantage is their background in retail management and accounting. The hair salon offers full hair dressing service, retail center in a cool relaxation spot.
The major challenges are recruitment of experienced staff, productivity and retention of customers. We will encourage repeat patronage through discounts, promotions and competitive pricing.
We will use training, re-training to increase productivity and leverage on technology. The technology would be a salon management software for better inventory management and customer data base.
The payroll would be similar with those obtained in the market. Each partner has 50% of the business and seek another 50% bank loan.
Hair Salon
Goals and Objectives
The goal is to provide a community based hair salon experience. We target women and men in the Detroit area, focus on environmentally friendly products.
We focus on the customer’s needs, preferences and desires. The business has two sections the hair salon and hair products retail.
Core Value
We are committed to professional and personal growth. We are commented to team objective, goal attainment and effective time management. We will foster good team players, efficiency and meet specific goals.
Our client service would be exceptional and offer a good retail experience. We will continue to improve service delivery and added services. We will use innovation products and services to reach our customer base.
         Commented to team objective
         Goal attainment
         Effective time management
         Efficiency
         Meet specific goals
         Offer a good retail experience
         Good service delivery
         Stock innovation products
Company Overview
The company Cummings Hair Salon is a partnership business. It offer hair care products and hair care services. The business is located in Detroit and owned by Bruce White and Betty White husband and wife.
Management Team
The hair salon provides on-site hair making services and sells hair care products. We will build a highly professional dedicated workforce with years of experience.
The hair salon company will have client service executive, sales executive and stylist. Others are driver, hair dressers, barbers and cleaner.
         Manager
         Client service executive
         Sales executive
         Stylist
         Driver
         Hair dressers
         Barbers
         Cleaner
Roles and Responsibilities
The owner is the salon manager who implements the mission and vision of the company. They manage daily activity, interviews, administrative and pay salaries. They are responsible for training, recruitment and funding.
Sales executives structure financial projective, negotiated fees and evaluates sales. The accountant or cashier prepares financial reporting, develop budgets and analyzes financial feasibility.
They organize the books, ensure tax compliance and conduct risk analysis. The service executive answers enquiries and build customer interest.
SWOT Analysis
The hair salon business is sales oriented and requires regular client patronage. Our strength lies in the choice of location, professional service and local population. We will invest in trained staff, quality equipment and good customer service.
Others are sales of branded hair care products, effective marketing, discounts and promotions. The sole proprietor arrangement is our primary weakness because funding is provided by the owners. The treats are low patronage, competition, seasonal patronage.
Market Trend and Target Market
The business is in high demand with good growth potential. We provide unisex hair services for both men and women.
The target market are corporate clients, private individuals, college students. Our competitive edge is the quality service and products.
Marketing Strategy
To grow our customer base we will use effective marketing strategy. We will print flyers, posters, banners, complementary cards. Others are signboard in from of salon, word of mouth, direct marketing. We will use referrals, classified advertisements.
         Flyers
         Posters
         Banners
         Complementary cards
         Signboard
         Word of mouth
         Direct marketing
         Referrals
         Classified advertisements.
Funding, Products and Services
The business is funded by the owners Bruce and Betty White. Products, services are hair coloring, hair products sale, barbing and skin service. Others are manicure, massage, hair styling, facials, and merchandizing.
Products
         Hair coloring
         Hair products sale
         Barbing
         Skin service
         Manicure
         Massage
         Hair styling
         Facials
         Merchandizing
Sales Forecast and Pricing
The sales are based on daily patronage and product sales. The price strategy is to offer competitive prices obtainable in the market.
Payment options are POS machine, check, bank draft, mobile money. However most salons accept only cash payments.
Publicity
The company will use radio and television advertisement. We will promote the business on a website and social media. Others are listing in local directories, yellow pages, word of mouth.
Expenditure
Expenditure includes business registration, legal fees, marketing and promotions. Others are purchase of equipment, rent, stationeries, and inventory.
         Lease
         Legal fees
         Business registration
         Purchase of equipment
         Staff wages
         Inventory
         Marketing and promotions
Milestone
Milestones are opening a business account, business name registration. We will apply for business license, tax payer’s identification, drafting employee’s handbook.
The company will recruit experienced staff, purchase hair salon care products, build an official website, draft contract documents. We will open payment platforms, apply for loan, conform to fire and safety provisions.
         Opening a business account
         Business name registration
         Apply for business license
         Tax payer’s identification
         Drafting employee’s handbook
         Recruit experienced staff
         Purchase hair salon care products
         Build an official website
         Draft contract documents
         Open payment platforms

0 comments:

Post a Comment

Note: Only a member of this blog may post a comment.