If you are looking for a sample hair salon business plan template, here is a business plan for starting a hair salon and free feasibility study example you can use.
HAIR SALON BUSINESS PLAN SAMPLE
People are always concerned about the condition of their hair as the level of care speaks volumes about their personality. Thus hair salons have become an integral part of our lives as people flock to such these places for a variety of hair treatments including styling. Starting a hair salon business will require being able to provide every requirement that will ensure its smooth running. The business plan is one of such requirements as we provide a hair salon business plan sample as a guide for anyone facing difficulties with what a good business plan should contain.
This document is a guide for the business as it charts the way by setting out a specific line of actions to be implemented at particular stages of the business. This calls for diligence when writing the plan. This article will give you tips on how a good hair salon business plan should look like.
Hair Concepts is a salon business located in Denver’s Central Business District (CBD) that will be providing a variety of hair care services that include weaving, haircuts, perms, colors, shampoo, conditioning, reconstructing and waving. These services will be provided by professionals with extensive years of experience in the hair salon industry. These services will be fairly priced and affordable without compromising on quality.
All products to be used at Hair Concepts will be of the highest quality and safe for use. Our business will be done in such a way that our clients will be treated to our premium hospitality while being attended to. This is a strategy to ensure their time is well spent and to create a lasting impression.
Hair Concepts is owned by Felipe Calderon, who is himself a hair care professional with 20 years work experience working in major salons across the United States. His in-depth understanding of the industry will be used in properly positioning the business on the right footing for maximum growth.
At Hair Concepts, our business model is targeted at ensuring we become the preferred destination for our esteemed clients through the provision of unbeatable services that will ensure total commitment to the ideals of our business which is total client satisfaction. With our top of the range hair care services, we plan on joining the league of the top 10 salons in Denver within a space of 5 years. This plan will be driven by the provision of innovative services as well as tapping the experience of our professionals.
Hair Concepts has a vision of expanding operations to cover more cities beyond Denver and starting with neighboring cities such as Aurora, Colorado Springs, Albuquerque, Wichita, Lincoln, Lubbock, and Omaha. More hair salon outlets will be rolled out to cover these cities within 5 years.
Our ambitious growth plans will be supported with financing to the tune of $1,200,000.00. From this amount, $200,000.00 has been realized from savings Mr. Felipe Calderon has kept solely for this purpose. The remaining $1,000,000.00 will be raised from loan arrangements entered into with a reputable bank of which the owner is a client.
Our sales projections are driven by the growth trends in the industry. The results were obtained from a research conducted that focuses on a three-year revenue growth plan. While using several economic and growth indices to arrive at these projections, natural disasters including economic recession have been discounted. These have been summarized in the chart below;
- First Year $500,000.00
- Second Year $780,000.00
- Third Year $1,500,000.00
To stand a chance of thriving in the midst of strong competition, we have designed an effective strategy that will help us attract loyal clients through the provision of an exceptional and unforgettable customer care experience. This will see us ensuring tour clients are treated in the most professional way possible as well as providing salon services that are second to none. The total satisfaction of our clients is paramount. Hence we will seek to provide personalized services with the unique needs of each customer taken into consideration and fully attended to
Publicity and Advert Strategy
Our publicity and advert strategy will include a variety of options which will be fully taken advantage of. To attract a loyal client base, we understand that we will have to commit our resources, time and effort to achieve our objectives. Hence the mainstream media, new media, as well as traditional methods will all be combined to achieve the much-desired results. In briefly explaining the above, we will have paid adverts running on radio and TV, in addition to having an active social media presence.
The most popular social media platforms will be adopted in promoting our variety of services in addition to projecting our areas of strength. We will also have a website where people can visit to learn more as well as to schedule a home service if they so wish. We will not overlook long-established methods of advertising which is the word of mouth marketing. This method is as old as man and has continued to remain relevant to this day.
All of these publicity and advert strategies will be leveraged on to give us the needed edge we seek.
Our Payment Channels
We will have a variety of payment options for clients to eliminate problems that have to do with the non-availability of a variety of options. Therefore we will be receiving cash and cheque payments, electronic transfers, credit cards, POS payments and mobile banking. More payment methods will be subsequently added.
Starting a business requires having a well-written business plan in place. This sample hair salon business plan has highlighted what should be included and acts as a guide for salon owners or those interested in starting a hair salon.