Cosmetologist business plans are documents that describe the market for cosmetology services in a fixed area, generally measured around a demographic centerpoint using a 5-mile, 10-mile, and 15-mile radius. What are the key things to know about this area? Basically, what you need to describe is who your customers are. What percentage of younger women are there in the area? What is the average household expenditure on discretionary personal care products and services per year? Census data from ESRI can tell you these things. Also:
• What other cosmetologists will you compete with?
• Are there cosmetology schools nearby that could be fertile recruiting grounds?
• What are the average price points on your products and consumer services?
• What industry stats can you share that make the venture look appealing?
Also make sure to show when you will break even and how you plan to allocate the capital you seek. A source of funds table and start-up summary are an important part of the financial model. Also show revenues, cash flow, profit and loss, a balance sheet, and a monthly breakdown for year one post-funding (in the appendix section). A bio for your owners and a marketing strategy showing how you get new customers will complete the plan. MasterPlans can write the entire document and make the model for you, if you desire. Call our team today at 877-453-2011.
