To start a business plan, like anything else, it is essential to have a realistic working plan.
A plan for your business, or business plan, is effectively a collection of your ideas, expectations for your salon, how you will do things and your forecast of how that will transpire. It is a written document describing your proposed business, its objectives, strategies, the market, and its financial forecasts.
Your business plan is essential and helpful for you; it is a must if you are seeking financial support from someone, looking for a loan from a bank or proposing your salon to a potential partnership. Therefore, It is very important to be well thought out and carefully prepared.
The bottom line is if you have a realistic business plan, potential investors or a bank you may approach for a loan will almost certainly base their decision on the strength of your business plan.
In this article:
Salon business plan template
Gathering information for your salon business plan
It makes good business sense to prepare a detailed salon business plan when the idea of opening a salon is still in the early planning stage so that you can determine if your idea is both worthwhile and financially viable. It’s a very good way of arranging your thoughts and ideas, having all the information available to you on paper, thus allowing you to get an overall picture of the project.
Talk to local commercial estate agents; look through local newspapers to get ideas about shops and the cost of buying or renting one.
- Visit beauty trade shows or research costs on salon trade shops to get an idea of your future costs for products.
- Line up potential tradespeople and ask for quotes.
- Enquire with your local council regarding licences and regulations.
- Research as many salons as possible to assess different types of salons, e.g. customer base, products, etc.
Salon Business Plan Template
You can download this free business plan template for your salon: