Making a salon business plan? Despite the recession, plenty of women (and even men) are spending time and money at the salon. Instead of a new car or a vacation, treating yourself to a new haircut or color, or a manicure/pedicure, is often seen as an affordable luxury. When making a salon business plan, it's especially important to be aware of your competitors, how close you will be to them, and what services they offer. It never hurts to peruse customer complaints on Yelp to see your competitors pitfalls, too, so you don't make the same mistakes. When making a salon business plan, you'll want to include the following sections:
• A summary of your products and services. Will you offer a new, trendy type of manicure? Blow-dry salons are all the rage in major metropolitan markets right now, too.
• An analysis of your target market. How many people live in your area? What age and income range will you target?
• A look at your competitive advantages and strategy. How will you outperform rival businesses? What are the main advertising and marketing methods you'll use?
• A rundown of your qualifications. Who else will help run your salon and what similar professional experience do they have?
• Financial forecasts for the first few years. How much funding does your salon need, when will you break even, and what is your projected revenue? How much will staffing, equipment, and rent cost?
If making a salon business plan has you frazzled, call MasterPlans. We've written thousands of business plans, many of them for salons, and we know what investors and lenders want to see! Call now for your free quote: 877-453-2011
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