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Hair Salon Business Plan Example
Hair Salon Business Plan Example
Business
Plan
[YEAR]
John Doe
10200 Bolsa Ave, Westminster, CA, 92683
(650) 359-3153
https://upmetrics.co
Table of Contents
Executive Summary 4
Business Overview 5
Mission 5
Vision 5
Our Services 5
Goals and Objectives 6
Keys to Success 6
Business Overview 7
Ownership 8
LAURA DOE 8
KATARZYNA DOE 8
Legal Business Description 9
Startup Summary 9
Startup 10
Chart 10
Hiring Plan 10
Location 11
Products & Services 12
Products & Services 13
Services 13
Products 13
Market Analysis 14
Market Trends 15
Target Market 15
Market Segmentation 15
Market Analysis 15
Customer Profile 15
Competitive Summary 16
Competitive Advantage 16
Strategy and Implementation 17
Sales & Marketing Strategy 18
Sources of Income 18
Sales Forecast 18
Pricing Strategy 18
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Publicity and Advertising Strategy 19
Milestones 19
Management 20
Personnel Plan 21
Financial Plan 22
Startup Costs 23
Important Assumptions 23
Profit & Loss Projections 24
Balance Sheet Projections 25
Cashflow Statement 26
Business Ratios 27
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Executive Summary
Business Overview
Mission
Vision
Our Services
Goals and Objectives
Keys to Success
Platinum Hair is the only salon to have professional hair services for men and
women. Apart from the hair services Platinum Hair the Salon offers a full line of
hair products noted for their commitment to the environment. As a concept
salon, Platinum Hair is allowed to carry products other salons do not. The front
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of the salon is committed to being a strong retail center, inviting shoppers to
Mission
Vision
Our Vision is to become the number one mobile hair salon company in the
whole of Arizona with an active presence in major cities in the United States of
America and Canada.
Our Services
Platinum Hair Salon Company is a standard and well – equipped hair salon
company that offers a wide range of services that revolves around the Hair
Salons industry and other complementary services. We intend to give our
customers every reason to always hire our services which is why we have
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customized our services. Basically, our services will involve us going out to the
Platinum Hair’s objectives for the first three years of operation include:
Keys to Success
Location - salon located on the main street between Ealing and Greenford -
provides easy access for Polish customers as well as greater visibility to
potential clients.
Toservices
Advertising - will get our name and the concept of Hair unlock help try to
out Upmetrics!
the
public.
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Business Overview
Ownership
Legal Business Description
Startup Summary
Hiring Plan
Location
Ownership
LAURA DOE
Owner & Artistic Director
- [email protected]
Laura has been been working as a sole trader providing beautician service in the
UK, as well as in Poland. All in all, she has more than 10 years of experience in
this field. Laura has been a Beauty Therapist for 10 years. After studying at Mary
Reid School of Beauty, she quickly developed the trade skills that have led to her
success. Laura worked from home for eight years and built up a good client base.
After working from home, She loves dealing with people and has the drive,
ambition
and discipline to manage the business and its employees.
KATARZYNA DOE
Co-Owner & Neil Technician
- [email protected]
Katarzyna has been working successfully with a diversity of clientele for around
five years now, specializing in nails care and extensions.
Laura Doe
50%
50 Shares
Katarzyna Doe
50%
50 Shares
The legal name of the company is Platinum Hair LLC. The legal
form of the business is LLC. Refer to article papers submitted to the state,
June
26, 1997. The business location is in downtown Green Bay, Wisconsin.
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Startup Summary
After spending several months searching for a salon to purchase, the owners decided to start a salon
from the ground up. The start-up capital will be used for the design, leasehold improvements, and
equipment of the salon.
Startup Amount
Requirements
Inventory [Amount]
Equipment [Amount]
Supplies [Amount]
Advertising [Amount]
Insurance [Amount]
Start-up Assets
Startup
Amount
150.00k
100.00k
50.00k
0
Expenses Assets Investment Loans
Expenses 140000
Assets 10000
Investment 130000
Loans 15000
Hiring Plan
Location
The salon will be located on Portobello High Street in Phoenix. The salon is
roughly 2000 square feet. The location of the salon is ideal as it is situated on
the quieter side of Portobello, Joppa with easy parking.
Services
The Platinum Hair will, upon commencement of operation, sell a range of hair
and brow products. We will be providing quality hair and brow products. We will
be using HD Brows as our product for our brow clients, which has a large
celebrity following, and is a reputable provider, and is well branded. We will
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also be using L'Oreal hair products which we aim to gain an exclusive contract
Products
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Market Analysis
Market Trends
Target Market
Market Segmentation
Customer Profile
Competitive Summary
Competitive Advantage
Quite a number of distinct trends have emerged in recent times in the beauty
industry which is why salons are positioning their organizations to attract all
and sundry. As a matter of fact, this is one of the things that makes most nail
studios to spruce up their creativity level so that they
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In this type of business, one of the things that could possibly make one stand
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Target Market
The target market which we are all out to serve is primary the female folks.
This is because of the fact that they are the ones who will leave no stone
unturned in seeing that they look their best. Whilst some may do this to
continue to be attractive to their partners, yet others cannot just do without
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looking good. As such, our target market cuts across all sectors. Also, our
Market Segmentation
1. Local clientele
2. Out of town/Traveling clientele
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Market Analysis
Customer Profile
Competitive Summary
The Platinum Hair wants to set itself apart from other hair salons that may offer
only one or two types of service. We want to offer hair, makeup, and brows in
one location and to make it an experience. Young, fun, and on-trend. Laura
realized from talking to clients that they desire all of the services we're
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proposing in one place so that a night out is getting home after being at
Competitive Advantage
A close study of the beauty industry reveals that the market has become much
more intensely competitive over the last decade. As a matter of fact, it is
becoming really tough to break even in this market because of the number of
people who are in it. However, we are also aware that this hasn’t deterred
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people from breaking even and smiling to the bank. This is one of the reasons
We are mindful of the fact that there is stiffer competition amongst nail salons
in the United States of America; hence we have been able to hire some of the
best business developers to handle our sales and marketing.
Our sales and marketing team will be recruited based on To unlock help try
their vast Upmetrics!
experience
in the industry and they will be trained on a regular basis so as to be well
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Sources of Income
It is the wish of every business to generate income at all times and our salon is
one of such businesses. The Platinum Hair salon is established with the aim of
maximizing profits in the beauty industry and we are going to go all the way to
ensure that we do all it takes to attract clients on a regular basis and sign
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retainer – ship with most of our clients.
Sales Forecast
Pricing Strategy
One of the ways through which we know that we will be able to get more clients
within a short period of time is when our pricing is on a moderate level. Being
on the moderate level means that we are able to maximize profit in a way that
doesn’t put holes in the pocket of pour clients. As such, we are looking at
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lowering our price a bit below that of our competitors, so that we can gain good
We have been able to work with our in house consultants and other brand and
publicity specialist to help us map out publicity and advertising strategies that
will help us walk our way into the heart of our target market. We are set to take
the consulting industry by storm which is why we have made provisions for
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effective publicity and advertisement of our beauty based business.
Milestones
The milestones table and chart show the specific detail about actual program activities that should be
taking place during the year. Each one has a starting date, ending date, and budget. During the year
Platinum Hair will be keeping track of implementation against the plan, with reports on the timely
completion of these activities as planned.
Manage Departmen
Milestone Start Date End Date Budget
r t
Totals $127,000
Management
Personnel Plan
The personnel plan calls for a receptionist who will greet customers and
receive payments for services and products. Everyone but the receptionist will
be contract workers and will be paid a sliding commission scale based on the
amount of revenue created. Future plans include the hiring of an additional
beauty stylist as the business expands. To unlock help try Upmetrics!
Personnel Plan
Total People 3 4 5
Financial Plan
Startup Costs
Important Assumptions
Profit & Loss Projections
Balance Sheet Projections
Cashflow Statement
Business Ratios
Startup Costs
Starting a hair salon trade can be cost-effective; this is so because, on the average, you are not
expected to procure any expensive machines and equipment. Basically what you should be concerned
about is the amount needed to secure a standard office facility in a good and busy business district,
the amount needed to furniture and equip the office, the amount needed to pay bills, promote the
business, and obtain the appropriate business license and certifications.
Basically, this is the area we are looking towards spending our start-up capital on :
Expense Amount
The Total Fee for incorporating the Business in New York $750
The Amount needed to acquire a suitable Office facility in a business district for 6
$40,000
months (Re-Construction of the facility inclusive)
The Cost for equipping the office (computers, printers, fax machines, furniture,
$2000
telephones, fittings, safety gadgets and electronics, hair equipment et al)
Budget for paying at least two employees for 3 months and utility bills $30,000
Additional Expenditure (Business cards, Signage, Adverts, and Promotions et al) $2,500
Miscellaneous $1,000
Going by the report from the research and feasibility studies, we will need about $150,000 to set up a
small scale but standard consulting firm in the United States of America.
Important Assumptions
Revenues will grow at an annual rate of 15%, increasing 20% in November and
December due to a historical jump in revenues at this time of year. The
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company anticipates this increase to stay steady throughout thehelp year
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following
to account for the normal flow of new clients coming into the salon. Estimates
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Revenues
ASSETS
Accounts receivable $0 $0 $0 $0 $0
Share Capital $0 $0 $0 $0 $0
Net Cash Flow from Operations ($54,811) $118,902 $114,193 $145,037 $179,244
Investment ($246,450) $0 $0 $0 $0
Net Cash Flow from Financing $317,971 ($45,424) ($45,424) ($45,424) ($45,424)
SUMMARY
Ratio Analysis
Industry
Year1 Year2 Year3
Profile
Percent of Sales
Main Ratios
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