The barber business plan describes a business model that any banker you present the plan to will be very familiar with. As a common business type, you will not need to cover your service suite in depth – simple describe the types of cuts you offer, whether you cater to both men and women, options for children, etc. If you provide additional services like coloring, blow-outs, shampoo, or makeup like a salon would offer, talk about what those price points are and how many customers you expect will want to make use of them. For the straight-up barbershop, however, the business plan does not require things to be fancy. Simply cover the important details:
• How many cuts/shaves can you provide per day?
• What is the going rate for the standard haircut?
• What gratuity do you expect per customer, if any?
• Will you have anyone on payroll?
• What will be the sum total of your rent, utilities, supplies and other operating expenses?
The pro forma financial model for a barber business plan needs to show your planned use of proceeds (the start-up summary) and the timeline you’ve plotted out between your launch and the point you’ll break even on the loan or investment. SBA plans always require three years of modeled financials, so prepare a small assumptions table that’s capable of populating a spreadsheet out that far. Don’t let your net profit percentage get too high, but make sure that you don’t run out of cash or fail to meet the loan repayment terms. Want assistance with the market analysis, marketing plan, or the financial requirements? The business plan writers at MasterPlans in Portland, Oregon have written for hundreds of salons, barbershops, spas, and other consumer services companies. Call us today at 877-453-2011.
