Executive Summary of a Nail Salon Business Plan
Looking good they say, is good business. A lot of people invest a fortune in beauty treatments. Not only women but also men really want to appear good looking and attractive.
Particular features that easily attract attention are your nails. People tend to rate you by how neat and manicured for nails are. This presents a window of opportunities for people who want to go into nail salon business.
As with other businesses, you will need a nail shop business plan.
To run any successful business you will need a business plan. In spite of the size or the capital investment required, a business plan is necessary to give you a sense of direction for what business you are engaged in. Getting a business plan is the first in the rudiments of starting a successful business.
The executive summary is a section of your business plan which will adequately summarize all your business is about.
As stated earlier, it is fundamental for you to have a business plan no matter what business you are going into. In this article, I am going to take you through how to write a business plan executive summary. Our focus will be on the nail salon business plan executive summary.
Fancy nails LLC is a nail salon business to be set up in New York City of the United States of America. Our choice of location is very important. New York is considered the cosmopolitan center of the world. It is a place where people from different social classes live side by side. The business needs to be located within a population with a high sense of fashion. This kind of audience is very good for this kind of business. Even though needless to say, neat nails signify one thing, neatness.
To keep up with the trend and make sure we provide the best and most consumer friendly services, we intend to equip our salon with only the state of the art equipment to service our customers. Needless to say also, the salon needs to be located at a very strategic location. In addition to that, it has to be very aesthetically appealing.
We will be providing our clients with manicure and pedicure services. We will leverage on quality and luxury. But we know that people have different income levels and therefore we are going to fully take that into consideration, to design different customer plans for different income levels. In this way our business model with cover a wide audience and provide best customer satisfaction.
Fancy nails have been able to raise two thousand dollars in seed funding from family and friends. Due to the scope of our business and in view of our growth potential, we are looking for a further investment of about twenty five thousand dollars. We prospect to get these funds from angel investors or from loans from banks. The moneys will be used to buy additional office space, buy state of the art manicure and pedicure equipment.
In addition to that, we will need to hire additional employees and engage in an aggressive media campaigns. Therefore we will be using part of the money for this purpose.
Our Products and Services
As mentioned earlier, we will be offering a host of services to our clients. The basic of which will be providing manicure and pedicure services to our customers. We will also be providing our customers with general nail treatment and this will include providing services like fungal and bacterial nail infections. Our services will be designed and different product packages to offer variety to our clients.
We intend to scale up our facilities and increase our online presence across the world. Even though our service will be restricted to the United States, we are seriously considering franchising. We consider that franchising strategies that will enable us to expand our physical presence across the globe.
Our Keys to Success
Our most critical success factors are the quality of our services and the marketing strategies we intend to adapt. As we know well, a product is not the same as a business. For this reason, we have identified the need to have a through a feasibility study and select a profitable business and marketing model for business. To achieve that we have to carefully draft a winning nail salon business plan executive summary which will adequately contain all our business stands for.
If any investor is to be interested in your nail salon business he will first go through your business plan executive summary to get a general idea of what your business is about and the financials, so as to access the viability of the business. This will inform his or her decision whether to invest in the business or not. The fact that people, especially women will spend a fortune to manicure and pedicure their nails makes nail salon a lucrative business.
For a budding entrepreneur, starting a nail salon is a great business idea mainly due to the small capital requirements and the relatively huge return on investment. The unfortunate thing is that a lot of small business owners and startups have a problem writing a business plan or even don’t know about business plans at all.
This article comes to the rescue, as it provides a sample nail salon business plan executive summary you can work with.