How to make a business plan for a beauty salon

According to Entrepreneur magazine, despite the difficult economic times between 2002 and 2005, beauty salons and spas experienced an increase in their total income. Part of this increase may be because the classrooms offer customers something they need regularly and can not reproduce at home: haircuts and professional care. If you want to start your own hair salon, one of the first steps is a business plan. This document details all the nuances of your company. Use it to attract investors, distributors and potential customers.

Write a schema that establishes the main sections in all business plans.

Section 1 usually focuses on the business, and includes sections for marketing, competition, how you will manage the business, your hiring strategies and insurance information.

Section 2 refers to financial aspects and includes loan applications, balance sheets, detailed budget projections for each month during the first year and quarterly budgets for the next three years. Include supporting documents, such as your income tax returns, copies of business licenses and your resume.

Do research to help you fill out the sections and subsections. Visit the competition salons and learn how they work. Study the marketing campaigns in your area including the shows advertised on television, those that use posters and those that do not actually advertise anything. Use this data and your own intelligence to formulate ideas on how you are going to make your business work.

Ask the secretary at the town hall or government center for the requirements to operate a beauty salon in the area. Fill licenses and permits as necessary. Keep copies of these documents.

Plan how you will finance the company. According to Forbes, in 2010, many salons spent US $75 to US $125 per square foot on the distribution of the area for chairs, sinks and space for customers. Decide how you are going to compensate your employees. Some salons offer commissions, other salons lend space to stylists. Specify all the intricate details of your finances including the loans you need and how you will guarantee them. Speak to a certified public accountant as needed.

Use the scheme you have created and the information collected and write the business plan section by section. Consider working from a template that helps you get started. BPlans.com, for example, offers a sample of a business plan for beauty salons.

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