Hair And Beauty Salon Business Plan Hair And Beauty Salon Business PlanThere is a need for a full-service beauty salon dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price/value relationship.
We plan to supply services and products that enhance our clients’ physical appearance and mental relaxation.
We will be targeting male and female clients who are fashion conscious and have disposable income. Our clients are mostly women, but we will make sure to include men who fit the criteria as well
There are a number of salons like ours, but they are mainly in the very high income parts of MyTown and surrounding areas. We do not intend to compete with these so called “Day Spas.” We wish to offer a middle ground for those clients who can’t quite afford those high-end luxury salons.
Trend Setters will, upon commencement of operations, sell a wide range of beauty services and products. We will provide quality hair, nail, and skin services, along with top lines of beauty products. What will set Trend Setters apart from the competition is our commitment to providing all of these services in one convenient location.
The forecast shows small profits leveling out in the third year. We believe this is realistic, even conservative. Of course we will be watching actual results on a monthly basis, and revising the forecast as necessary.
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We plan on needing $60K owner’s investment and getting a $50K vendor financing to purchase equipment.
Starting costs include $50K cash cushion, $9K starting expenses before launch, and $53K tangible assets at launch.
There is a demand for high fashion haircuts, manicures, and pedicures at reasonable prices. Men and women should not need to sacrifice their essentials to get a treatment that makes them feel good about themselves.
Trend Setters is a full-service beauty salon dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at a reasonable price/value relationship. We will also maintain a friendly, fair, and creative work environment, which respects diversity, ideas, and hard work.
The market is our town, middle class, mostly women, so largely moms, working moms, and singles.
We’re not doing formal market research because we know this market pretty well and we’re comfortable with market prospects in our town. We’ve been in this business for decades now. If we execute right, our customers will come in as we bring in our beauticians and barbers.
We’re well aware of a lot of competition, existing salons, all over town. We are not going to try to compete with the expensive spa salons around, with visibly fancy locations; and we are going to look nicer and price above the less fashionable strip mall and in-home options.
We’re not pretending to be unique. We intend to bring in loyal customers because we are good people, easy to work with, good at what we do, friendly, and helpful.
Trend Setters wants to set itself apart from other beauty salons that may offer only one or two types of services. Having come from such a salon, Curley has realized, from talking with her clients, that they desire all of the services that we are proposing, but they remain frustrated because they must get their hair done at one place, and nails done at another. Although the focus of Trend Setters is hair services, we do wish to offer our clients the convenience of these other services in one location.
There are a number of salons like ours, but they are mainly in the very high-income parts of MyTown and surrounding areas. We do not intend to compete with these so-called "Day Spas." We wish to offer a middle ground for those clients who can’t quite afford those high-end luxury salons.
Our business atmosphere will be a relaxing one where clients can kick back and be pampered. Soft drinks will be offered to clients as they enter for service. Televisions will be located in the waiting and hair-drying area.
The keys to success in our business are:
We anticipate regular steady social media presence, in Facebook and Twitter. Our experience has shown that social media is the best advertising for this type of business. We will, however, run specials occasionally. We will also ask clients for social media referrals, and reward them with discounted or free services depending on the number of clients they bring. We will also offer discounts to the new clients who have been referred.
We expect income to increase steadily over the next three years, as the reputation of the salon, its stylists and services become apparent to the general public. Second year revenues also anticipate the addition of one new stylist.
The salon will be located in a retail strip mall at 1234 Stylish Road, MyTown. The salon will utilize 1,540 square feet. The location is strategically situated on one of the busiest streets in MyTown. It is a high profile area, with easy access from all parts of town.
