The business plan of a hairdressing salon

To complete your hair salon purchase plan, consider writing your business plan once you’ve found the perfect deal on Maven Business Plans. A barbershop business plan must contain several essential information for acquiring or taking over a hairdressing salon.

The main elements that make up the business plan of a hair salon

Whether you want to take over or buy a hair salon, your hair salon business plan should provide several data to present your business forecasts. These forecasts are often projected over three years.

Tables to insert

The business plan is mainly used to convince potential funders (banking establishment, investors) of a project’s viability. Therefore, several tables must be included to present the data reflecting the potential of the project in question.

The initial financing plan

This table will show all the start-up costs, namely, furniture and equipment, the various works, the constitution of stocks, etc., the entrepreneur, donations, etc.).

The three-year income statement

This is the table that will present all the expenses and revenues, thus showing the profits and possible losses of the company.

The initial cash flow plan

The initial cash flow plan allows you to see how the current account evolves over the months. It is used to have a global medium or long-term vision on the financial progress of the show.

The charges to be included in the business plan of a hairdressing salon

It is essential to present the charges to be borne for the purchase or takeover of a hairdressing salon exhaustively. These expenses relate to insurance, maintenance and works costs, consumables and supplies, various rental charges, interest on loans from bank loans, energy consumption (water, electricity, etc.), property contributions, and social contributions. To avoid making errors in the calculations, it is necessary to be well informed about all types of expenses caused by the show’s recovery or purchase.

Preliminary studies required

Preparation is the key to the profitability of a hair salon. Taking over a hair salon or buying one requires extensive research into several parameters. These are complementary to the information in the business plan.

A market study

To put all the chances on his side, the hairdressing salon’s creator must carry out a market study. Hairdressing is a very competitive market, which is why this step must be properly carried out. This market research should highlight information regarding location trends and saturated markets. It is also necessary to specify the type of clientele to be targeted through field studies.

Recognition in terms of competition

To be able to stand out, the hairdressing salon designer must know the strengths of his competitors. Good knowledge of the offers and competitive advantages will allow added value within a new show.

A precise identity for an effective strategy

Once the clientele has been determined, the show can have a precise positioning. Thus, the owner can define whether he wants the living room to be upscale, or a more family-oriented living room, or other. A pricing policy must also be put in place. All these elements will also make it possible to finalize the communication policy, which is essential for building the show’s image.