Free Hair and Beauty Salon Sample Business Plan PDF

Author: Elon Glucklich

Elon Glucklich

6 min. read

Updated February 7, 2024

Looking for a free,  downloadable hair and beauty salon sample business plan Word doc  or  PDF  to help you create a business plan of your own? Bplans has you covered.

Keep in mind that you don’t need to find a sample business plan that exactly matches your business. Whether you’re launching an upscale, full-service salon in a bustling city or a neighborhood barbershop, the details will be different, but the bones of the plan will be the same.

Are you writing a business plan for your salon because you’re seeking a loan? Is your primary concern building a clear roadmap for growth? Either way, you’re going to want to edit and customize it so it fits your particular company.

No two salons are alike. Your business model will be different if you’re renting space to independent hairstylists, rather than taking on employees, for example. So take the time to create your own financial forecasts and do enough market research so you have a solid plan for success.

  • What should you include in a hair and beauty salon business plan?

Your hair and beauty salon business plan doesn’t need to be hundreds of pages—keep it as short and concise as you can. You’ll probably want to include each of these sections:

  • Executive summary
  • Company summary and funding needs
  • Products and services
  • Marketing plan
  • Management team
  • Financial plan

One of the things that makes a salon business plan different from some service-based business plans is that you might decide to offer a combination of products and services.

Maybe you’ll sell shampoo, beard oil, or other cosmetics and beauty products, in addition to offering services like haircuts, manicures, or massages. If that’s the case, make sure you include your ideas for upselling products to customers to increase the value of every appointment you book.

Here’s an example of a salon business plan outline.

Hair and beauty salon sample business plan outline.

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  • The 7 elements of an effective hair and beauty salon business plan

1. Executive Summary

The  executive summary  provides a high-level overview of your business plan. It should outline the objectives of your hair and beauty salon, such as to offer high-quality services, to expand the client base, or to break into a new market.

Your salon’s mission statement should describe its purpose and what sets it apart from competitors. For example, you may aim to offer a personalized experience for each customer or provide eco-friendly hair and beauty services.

The keys to success are the factors that will help your salon thrive. These may include a prime location, hiring experienced staff, excellent customer service, or a unique product and service range.

2. Company Summary and Funding Needs

The company summary offers a detailed overview of your salon, including its legal structure , location, and history. Also, it highlights your salon’s funding needs if you are seeking financial support.

Clearly state how much funding you need, what you will use it for, and how it will benefit the salon. For instance, you may need funds to renovate the premises, purchase equipment, or boost marketing efforts.

3. Salon Products and Services

This section should detail the products and services your hair or beauty salon will offer. These may include haircuts, hair treatments, manicures, pedicures, massages, and beauty treatments.

If you plan to retail beauty products such as shampoos, conditioners, or skin care items, include this information too. Highlight any unique services or products that differentiate your salon from competitors.

4. Salon Marketing Plan and Analysis

Your marketing plan should outline the strategies you will use to attract and retain customers. These strategies might include social media advertising, loyalty programs, partnerships with local businesses, and special promotions.

Additionally, you should conduct a thorough market analysis. Understand your target customers, their preferences, and their spending habits. Identify your competitors, their strengths and weaknesses, and how you can differentiate your salon.

5. Salon Management Team

The management team section provides information about the salon’s key personnel. This could include the salon owner, managers, stylists, beauticians, and other staff members. Highlight their roles, responsibilities, qualifications, and experience.

If you plan to rent chairs to independent stylists rather than hiring employees, describe how this arrangement will work and the advantages it offers for your business.

6. Financial Plan and Forecasts

Your financial plan should present detailed financial projections, including revenue, costs, and profitability. Include a cash flow statement, income statement, and balance sheet. This section should clearly demonstrate the salon’s potential profitability and financial viability.

Also, outline your pricing strategy. How have you priced your services and products, and how do these prices compare with competitors? What are your wage costs, and how will they affect your profitability?

7. Appendix

The appendix includes any additional supporting documents that complement your business plan. This might be market research data, lease agreements, employee contracts, or licensing and permit documents.

While not always necessary, the appendix can provide valuable context and proof to support your business plan’s content.

  • Crafting a Successful Salon Business Plan: Key Considerations

Understanding your target clientele’s needs is crucial to writing a hair or beauty salon business plan that you can put into action. To ensure your business plan is the foundation of a growing operation rather than just checking boxes, ask yourself whether you’re taking these considerations into account.

1. Comprehensive Services Offering

In the beauty industry, customer preferences vary significantly, and staying versatile in your offerings can help cater to a broader clientele. Include a wide range of services that cater to different demographics. You may also consider offering unique or specialized services that distinguish your salon from others.

2. Pricing Strategy

Pricing can make or break your salon. Competitive pricing attracts customers, but your pricing should also cover your costs and ensure profitability. Effective market research can help you understand the average cost of services in your area, which you can use to set your prices competitively.

3. Salon Atmosphere

The ambiance of a salon plays a significant role in attracting and retaining customers. Consider factors like décor, cleanliness, and customer service when planning your salon.

4. Staff Training and Expertise

Quality service is crucial in the hair and beauty industry since word-of-mouth exposure from existing clients is a major driver of new business. Investing in ongoing staff training ensures that your team stays updated with the latest trends, techniques, and customer service skills.

5. Digital Presence

Although word of mouth is one business driver, many of today’s customers research online before visiting a salon. Having a strong online presence, including a well-designed website, effective search engine optimization and active social media accounts, can significantly boost your business.

  • Download your free hair and beauty salon sample business plan PDF

Download this  hair and beauty salon sample business plan PDF  for free right now, or visit Bplans’ gallery of more than  550 sample business plans  if you’re looking for more options.

There are  plenty of reasons  salon business owners can benefit from  writing a business plan —you’ll need one if you’re seeking a loan or investment.

Even if you’re not seeking funding, the process of thinking through every aspect of your business will help you make sure you’re not overlooking anything critical as you grow.

Content Author: Elon Glucklich

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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How to Write the Perfect Salon Business Plan in 6 Steps

Discover how to craft a winning salon business plan in just six steps! Boost your salon's success with expert tips, market analysis, and strategy insights.

hair business business plan

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hair business business plan

As a salon owner, having a well-thought-out business plan is essential to the success of your business. A salon business plan outlines your business goals, market analysis, marketing strategies, financial projections, and other key details, serving as a roadmap that guides you through the process of starting, running, and growing your salon. In this article, we’ll go over the key elements of a salon business plan and provide tips on how to write the best business plan for salons in 2023.

How Much Does It Cost to Run a Salon? 

Before you start writing a salon business plan, it’s important to get an idea of the startup and ongoing costs. As we discuss in this article , the costs of starting a salon range from $62,000 for an existing salon to $90,000 for a new operation. With some of the expenses, you’ll incur one-time costs – other expenses will be ongoing such as supplies and inventory. Here are some of the typical costs associated with starting a salon: 

Existing Salon 

When you buy an existing salon, be it a hair salon or nail salon, you save on the costs of buildout, salon equipment , and salon marketing, assuming the salon already has some of these elements in place. Here’s what you can expect to pay for the following:

  • Rent deposit: $4,500
  • Buyout of current salon: $10,500
  • Leasehold improvements: $15,000
  • Equipment: $10,000
  • Initial supplies: $8,000
  • Initial inventory: $4,000
  • Certifications and licenses: $4,000
  • Marketing: $5,000
  • Legal or consulting fees: $1,000

Grand total: $62,000

The upfront costs of building out a brand-new salon, marketing it to local clients, and getting the business up and running will likely exceed those of buying an existing salon. Here are the typical expenses you can expect to incur for a new salon:

  • Buyout of current salon: $0
  • Leasehold improvements: $35,000
  • Equipment: $25,000
  • Marketing: $8,000

Grand total: $89,500

You may also want to budget for the following:

  • If you need a loan or financing to cover startup costs, expect to pay interest rates of 1.25% to 10%.
  • Salon insurance ranges from $50 to $1,000 per month.
  • Salon booking software and a point of sale (POS) system range from free to $500 per month. GlossGenius starts at an industry-low $24 per month with low payment processing fees and includes a website, a branded card reader, and other extras.
  • A salon website can cost you thousands, but with GlossGenius, it’s included free! Beautiful and customizable, your website is packed with scheduling features and is easy to navigate, helping to increase bookings and future appointments.

How Profitable Is Owning a Salon?

If you owned a salon during the pandemic, no doubt you experienced your fair share of struggles between lockdowns, closures, and reduced business hours. According to Statista , the U.S. market size of beauty salons dropped from $69 billion in 2019 to $42.3 billion in 2020. Fortunately, things are beginning to look up for hair, skin, nail, and other types of salons, with the market valued at $53.6 billion as of 2022.

You can take advantage of the comeback by approaching your salon startup with a solid plan in place, a realistic budget, and a marketing strategy. A beauty salon business plan can help you identify any questions , opportunities, and potential roadblocks so you can have the best chances of getting funding, earning a return on your investment and achieving profitability. The more you control your expenses and market your business successfully, the more profitable you will be – so be sure to take your time creating a salon business plan for your needs.

6 Steps to Writing a Hair Salon Business Plan

The business plan is the most important document for any salon owner. It’s a formal, written plan that describes the future of your business and how you intend to achieve it. A good business plan will help you stay on track, get funding if you need it, and avoid costly mistakes as you navigate through choppy waters in this industry. 

We know what you’re thinking – that a business plan is a monster of a document that will take a ton of time to create. But, it doesn’t have to be. In fact, you can pare it down to one page and still have an effective, clear document that outlines everything you (and any other interested parties) need to know about your new salon. Below are six steps to writing a salon business plan that will ensure your success.

Here are six steps to creating your salon business plan:

  • Create an Executive Summary
  • Map Out Your Branding Vision
  • Research Your Industry
  • Create a Client Acquisition Strategy
  • Management and Operations
  • Financial Planning

Let's dive deeper into each one.

1. Create an Executive Summary

The executive summary is the first section of your business and management plan and provides a brief overview of your salon business. This section should include your mission statement , business objectives, target market, products and beauty services, and financial projections. It should be concise, engaging, and compelling to grab the attention of potential investors, lenders, or partners. It also serves to clarify your goals so you can come back to them anytime you need a refresher or wish to update this information.

Your executive summary is just that: a summary. This means you do not have to get into every detail in this section; you’ll provide a more complete analysis in the individual sections of your business plan. Here are some key elements to include in the executive summary:

  • An opening “hook.” The first sentence or two of your executive summary needs to draw in the reader; otherwise, your business plan might not get the attention it deserves. Grab your audience’s attention by sharing a compelling fact about your company, a memorable story related to your industry, or some other well-crafted description of your business that will make your business plan stand out.
  • Summary of your business. Describe what your company does, what services and products you will offer, who will run the company, and other high-level details.
  • Market analysis. Briefly describe the market landscape for your own salon to show there is a proven need for your services. Be sure to address who your competitors are, any advantages you have compared with others, and any research you’ve conducted to demonstrate there is a demand for your services in the area. 
  • Products and services. Highlight the specific services your salon will offer, any products you will sell, and any other information showing that your salon will fill the need you’ve described in your market analysis summary – and how you’ll do it better than the competition.
  • Financial information and projections. Give your reader an overview of your business financials, including any current sales and profits, the funding amount you’re looking to acquire or any funding you already have, and your projections for growth.
  • Future plans. Tell your reader exactly how you plan to use any funds you acquire and how their investment could pay off. Imagine where you want your business to be in a year, five years, and so on. Make it clear how funding will help you get there.

2. Map Out Your Branding Vision

Branding isn’t just about creating a unique identity for your business; it’s also about helping people connect with that identity and remember your name anytime they need your services. Branding helps both current clients and new customers recognize who you are and why they would want to seek out your salon. In your business plan, be sure to map out your branding vision by including:

  • A description of your salon business. Describe who you are and what you do.
  • Your mission and vision statement. Briefly summarize why your salon should exist, its primary objective, and how you plan to achieve your goals.
  • An overview of your products and services, your pricing strategy, and any unique features or benefits that differentiate your salon from others in the market. Discuss the specific services you will offer and their price points, plus any product lines you will carry, such as hair care products, makeup, or skincare.
  • A description of the target audience and customer demographics. Include relevant research on your market and the people who will buy what you’re offering.

3. Research Your Industry

This section should include a market analysis that provides an in-depth look at the salon industry, including trends, customer demographics, competition, and opportunities. It should also identify your target market and describe how you plan to reach them. This section should demonstrate your knowledge of the market and your ability to capitalize on it, with details on:

  • The industry and trends. Provide an overview of the salon industry with relevant statistics, especially those that pertain to your area of expertise and geographic location.
  • Your competition. Conduct a competitive analysis to gain insights into your competition, their marketing strategies, and the services and products they offer. The goal is to show how you will capture market share using stronger business strategies that set you apart from your competitors.
  • Market segmentation. With market segmentation , you break down a larger target market into a smaller group of customers you plan to serve. Demographics such as age and income, geographic location, lifestyles or psychographics, and behavioral factors like price sensitivity or product loyalty are just a few approaches to market segmentation that you can consider for your business plan.
  • SWOT analysis. The SWOT analysis is a way to assess your strengths, weaknesses, opportunities, and threats. It's an effective method for identifying your business strengths and weaknesses as well as external factors that may affect the success of your salon business.

4. Create a Client Acquisition Strategy

The client acquisition section of your salon business plan should describe how you plan to attract and retain customers as a hairstylist . It should outline your advertising and promotional strategies, such as social media marketing , SMS marketing , email marketing, and referral programs. This section should also discuss your sales strategy, including how you plan to increase sales and generate revenue.

  • Description of marketing channels and tactics . Outline the different channels you will use to generate leads, such as social media, blog articles, emails, and text messages. 
  • Sales forecasting and projections. Discuss how you will convert leads into clients, nurture them through the pipeline, and retain a loyal clientele. Include a realistic estimate of the quantity of goods and services you can sell within the forecast period (for example, monthly, quarterly, and annually). For a salon business, it’s helpful to determine the customer lifetime value of your typical client as well as the customer acquisition cost. You can then break down this number for the forecast period to determine the costs and sales projections.
  • Customer acquisition and retention strategies. Include which strategies you will use and the associated costs, such as pay-per-click (PPC), search engine optimization (SEO), and paid ads on social media. Describe how you will retain customers – for example, through loyalty programs and responses to feedback and reviews on social media and Google. ‍
  • Pricing strategy. It’s critical that you price your services and products competitively to drive revenue and profits. Detail the pricing strategy you plan to implement based on your buyer persona and competitive analysis. The strategy could be based on a variety of factors, but geographic location and local competition will likely be the biggest factors dictating your salon pricing strategy.

5. Management and Operations

The management and staffing section of your salon business plan should describe the organizational structure of your salon, including the roles and responsibilities of each staff member. It should also discuss your hiring and training practices, employee benefits , and compensation plans. This section should demonstrate your ability to attract and retain a skilled and motivated team, with information on your:

  • Organizational structure. Spell out who runs the show and who reports to whom.
  • Management team and staff. If you plan to hire a manager , look for someone who has experience in the industry and understands what it takes to run a salon. This person should also have good people skills and be able to work well with others.
  • Business operations and processes. Consider which other support personnel you will need, such as an accountant and a dedicated marketing specialist. Don’t be a hero; you can’t do it all alone. ‍
  • Legal and regulatory requirements. Include information on any legal advice you will employ to stay compliant with local, state, and federal guidelines.

Note that with GlossGenius, you can manage your team and collaborate with them to make your operations run more smoothly. Our software helps you delegate, mentor, and partner with others based on customizable permissions that let you grant as much or as little access as you wish. Easily manage your scheduling, booking, commissions, and reporting from one intuitive dashboard.

6. Financial Planning

Financial planning is a crucial section to include in any salon business plan. A cash flow forecast shows the anticipated amount of money coming into the business, as well as what you will spend on expenses. It also projects growth over time, which allows you to make predictions about future revenue and expenses so that you can better plan for them in advance.

The best way to get started with your financial projections is by creating an income statement (also called a profit and loss statement), which breaks down all income sources by category (e.g., retail sales and commissions), along with their associated costs (e.g., salaries). This will help provide insight into where your profits are coming from as well as areas where they could improve. Here are some key areas to cover in your salon business and marketing plan:

  • Revenue and expense projections. Your revenue projections should consider the number of clients you expect to serve, as well as the average price per service. Your expense projections should reflect all costs associated with running your salon, such as utilities, rent, and supplies.
  • Capital requirements and funding sources. Detail how much money you need to start and run your small business, including all costs associated with opening the salon. Describe the funding sources that you intend to use for starting your salon business, whether from personal funds, salon loans , or investors.
  • Break-even analysis and profitability projections. A break-even analysis is a financial tool that shows how much revenue you need in order to cover your fixed costs (rent, utilities, etc.) and variable costs (such as salons supplies and staff wages). Profitability projections show how much profit you expect from your salon business for each year of operation. This is based on your estimates of revenue and expenses. You can use this information when seeking funding from investors or lenders.
  • Financial ratios and metrics. A financial ratio is a measurement of the relationship between two numbers, usually expressed as a percentage or a fraction. For example, the working capital ratio compares your current assets to liabilities; this metric allows you to measure liquidity. Include the appropriate ratios and metrics in your business to demonstrate your company’s financial health.

A well-written salon business plan is essential for the success of your business. It provides a roadmap for achieving your business goals, attracting investors, and securing funding. By following the tips outlined in this article, you can write the best business plan for your salon and ensure your salon’s success!

As you’re creating your salon business plan, remember to start your free trial with GlossGenius and give yourself the best chances for success. From salon management to payment processing, we’ve got your new salon covered – making it easier to get up and running sooner rather than later.

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Hair salon business plan template + PDF

This article presents a model business plan for a hair salon, providing a comprehensive structure to assist you in setting up and running your salon. It is important to note that the names and figures used in this template are fictional, created for demonstration purposes. However, they can be tailored to fit the unique requirements and circumstances of your own hair salon business.

Additionally, for ease of use and customization, a Hair Salon Business Plan PDF is available for download. This article serves as an invaluable tool for entrepreneurs who are keen on developing a robust and practical strategy for launching or growing their hair salon, providing a clear roadmap and comprehensive insights into the industry.

Hair salon business plan

How this hair salon business plan sample was created

Obtain your tailor-made hair salon business plan easily by clicking on 'Get your business plan' . This simple process involves answering a series of questions about your salon, giving key insights into your business. Our sophisticated AI will then craft a detailed business plan, customized to your specific objectives. It is a quick procedure, taking only 5-10 minutes, and you'll have a well-structured plan at your fingertips. This system's adaptability allows you to modify the plan to suit your unique vision. Once you're satisfied, you can save the plan directly to your computer, providing a clear and accessible path to success for your hair salon.

Hair salon business plan: questionnaire

Generate your custom hair salon business plan in minutes!

Hair salon business plan sample, executive summary, business description, market research and analysis.

  • Organizational Structure and Management Team

Products or Services

Marketing and sales strategy, operations plan, financial projections, risk analysis.

hair business business plan

Curl Me Crazy is strategically positioned within the thriving hair salon industry. Our mission is to create the latest trendy and unique hairstyles that will appeal to young adults and professionals who are our target market.

As an up-and-coming small business with ambitions of growth over the next 3-5 years, we start with the goal of breaking even in Year 1 as we build a solid client base and offset initial investment costs. In Years 2-3, we project a steady revenue growth of 15-20% per annum, and by Years 4-5, with an established clientele and expansion plans rolling out, we foresee profit increases of 25-30%. Our long-term goal is to open a second location and further boost our profitability margins.

Despite potential risks such as market competition, economic downturns, customer retention, supply chain issues, staff turnover, and health and safety concerns, Curl Me Crazy has delineated mitigation strategies and contingency plans for each. These include differentiating with unique services and styles, offering diverse and affordable options, focusing on exceptional customer satisfaction, building trade relationships with multiple suppliers, and creating a positive work environment for team members.

Our operations plan targets a trendy, accessible location in a busy urban area. Operating six days a week, we intend to offer extended working hours on weekends. Our team, constituting a Manager, Assistant Manager, multiple Hair Stylists, and a Receptionist, will operate on a rotating shift basis to maximize productivity.

The Curl Me Crazy team, led by Alex Taylor, the owner and Manager, boasts a wealth of experience in both hairstyling and business management. Supported by Assistant Manager Jamie Lee, renowned for her customer relations expertise, and Lead Stylist Chris Morgan, a highly-acclaimed creative genius, the team is poised to deliver exceptional service to our clients.

We offer a wide range of services encompassing custom haircuts, coloring, styling, and hair care products tailored to the latest trends, client preferences, and the current vogue for personalized hair solutions.

Our sales and marketing strategy hinges on maintaining a dynamic social media presence, as well as forging partnerships with local businesses and influencers for cross-promotion. Coupled with offline efforts like local advertising, promotional offers, and the implementation of an easy-to-use online booking system, we aim to capture a dominant market share.

We acknowledge the presence of key competitors like "Stylish Strands Studio" , "Elegant Locks Salon" , and "Modern Mane Hair Boutique" . While these salons offer quality services and boast trendy clienteles, we are confident that our differentiated services, strong operational strategies, and expertise will set us apart.

Curl Me Crazy, envisaged as a leading trendy salon, is ready to make waves in the competitive hair industry. With our strategic planning and market-focused approach, we are betting not just on surviving, but thriving in the market.

Hair salon business plan: Executive Summary

Curl Me Crazy, located in the bustling downtown district of New York City, stands as a thriving venture in the beauty and personal care industry. With an emphasis on creative and trend-setting hairstyles, our business aims to become a trailblazer for young adults and professionals seeking unique, standout looks.

The salon was opened in 2020 by its visionary, Alex Taylor. Alex, having nearly a decade of experience in hairstyling and a fervor for the beauty industry, identified a gap in the market for a hair salon catering specifically to more adventurous, fashion-forward clients. His background in business management has complemented and informed the foundations of Curl Me Crazy, steering it towards its current path of success.

Our mission statement is to "inspire individuality and confidence through transformative hairstyling and exceptional service" . We believe that the sphere of hairstyle is not just about cutting and styling hair but serving as a medium for clients to express their personality and style. At Curl Me Crazy, we are committed to providing that opportunity, where each client's individual style and expression is given paramount importance.

The legal structure of Curl Me Crazy is a Sole-proprietorship, with Alex Taylor being the sole owner and operator. This structure not only equates to more straightforward business operations, but it facilitates quick decision-making and a closer relationship with our employees and clients.

Looking at the long-term potential of Curl Me Crazy, we envision ourselves to not be confined to a single salon. The objective is to become a widely recognized and revered brand in the hair salon industry. With the enriched customer experience we provide and our distinct creative edge, we plan to expand our operations to multiple locations across the nation, fostering a network of satisfied and loyal clients.

Financially, we anticipate seeing substantial growth. As we strategize to expand our client base and motivate employee performance, we expect the business to break even in its first year. Ensuing steady growth over the next 2-3 years promises a positive profit margin with an expected annual revenue increase of 15-20%. Further, by the end of the 5th year, with a more established clientele and expansion course laid out, we look forward to seeing a 25-30% growth in our profits. Thus, the longevity of Curl Me Crazy, despite the overwhelmingly competitive market, seems farsighted and plausible.

The beauty and personal care industry is a challenging and ever-evolving landscape. However, the potential it holds for businesses that are eager to innovate and adapt is astronomical. Our commitment to quality service, paired with our relentless pursuit of the trends and demands of the market, fuels our belief that Curl Me Crazy holds the promise to make a mark on this thriving industry.

Curl Me Crazy is entering the burgeoning hair salon industry, set to make waves with its unique, trendy, and creative hairstyles that target young adults and professionals. The industry is currently valued at $47 billion and is expected to grow at a compound annual growth rate (CAGR) of 1.2% over the next five years.

I. Industry Description

The hair salon industry evolves continually with fashion and pop culture trends, necessitating businesses to stay abreast of the latest styles and techniques. Technological advancements have also influenced businesses, with many establishing digital platforms to expand their reach, streamline operations, and anticipate customer preferences, reflecting the industry's adaptiveness.

II. Target Market

Our target demographic comprise age groups of 18-35, primarily reach college students, young professionals, and trend conscious individuals. As per the census data, this demographic attributes to a population size of approximately 1 million individuals in the city, suggesting a massive potential customer base for our business.

III. Market Needs and Demands

Today's customers seek more than a haircut; they desire experiences and personalized services that cater to their unique style preferences and hair health needs. Additionally, they appreciate convenience in service, evidenced by the growing preference for online booking systems, hinting at the need for innovative service delivery modules.

IV. Market Trends and Patterns

Salons embracing sustainable practices are increasingly favored, representing a shift towards environmentally-friendly products and practices. Also evident is an increasing interest in natural and organic hair care products, suggesting demand patterning around health-conscious products.

V. Competitor Analysis

Key players include "Stylish Strands Studio" , "Elegant Locks Salon" , and "Modern Mane Hair Boutique" . These salons have widespread recognition and a loyal customer base, owed to their service quality and trend-driven styles. However, their offerings have slight premium pricing and lack the personalization we offer.

VI. Potential Barriers to Entry

High setup costs, intensive competition, and the necessity for skilled professionals are significant barriers to entry. However, by leveraging competitive pricing, unique service delivery, and exceptional customer service, we aim to differentiate ourselves in the competitive landscape.

VII. Financial projections

Given our unique value proposition and the robust market potential, we expect to break even in our first year. Over the following two years, we foresee a revenue growth of 15-20% per annum. By our fifth year, leveraging an established clientele, we anticipate profits to increase by 25-30%.

VIII. Contingency Plan

In the event of unforeseen challenges, such as economic downturns or market competition, we plan to diversify services, implement affordable options, and regularly analyze market trends to stay competitive.

In conclusion, with effective segmentation, a differentiated offering, and a strong understanding of market patterns, Curl Me Crazy is poised for success in the bustling hair salon industry.

Hair salon business plan: Market Research and Analysis

Organizational Structure and Management

As a small business aspiring to make a big impact, Curl Me Crazy is organized in a streamlined hierarchy that encourages both individual accountability and collaborative teamwork. At the top is Alex Taylor, the owner and manager, whose vision and tenacity guide all aspects of the business. With a decade of experience in hairstyling and a certification in business management, Alex is instrumental in navigating the industry trends, financial management, customer service, and the overall running of the salon. Supporting Alex is Assistant Manager, Jamie Lee. With five years of salon experience, Jamie's role involves overseeing day-to-day operations, scheduling, and client relationship management. The salon also has a lead stylist, Chris Morgan, who brings creative flair with his distinguished hair designs and eight years of industry experience.

Curl Me Crazy currently operates with a team of ten individuals, including the management. The staffing needs are slated to grow as the business expands. We envision hiring three more full-time stylists, a full-time receptionist, and two part-time assistants by the end of year two. All future hires will be local to minimize commute times and to support the local economy.

The company operates with a robust human resources policy that encompasses competitive compensation, clear protocols for performance reviews, open communications, and opportunities for career development. We strive to create a positive work environment that values mutual respect, diversity, and an enduring commitment to our clients' satisfaction. Our practices abide by all employment laws and regulations, ensuring an equitable work environment.

At present, Curl Me Crazy does not engage external advisors or consultants. However, we continue to reassess this as we grow. We consider the integration of an Advisory Board consisting of experienced individuals from different industry backgrounds for strategic guidance, is a long-term possibility.

In conclusion, Curl Me Crazy leverages a focused organizational structure that's calibrated for efficiency, success, and growth. Backed by a dedicated team, clear HR policies, and a commitment to hiring local talent, we are confident to meet the set business targets and emerge as a popular name in the salon industry.

Curl Me Crazy is a forward-thinking hair salon business strategically situated in the heart of New York. Our services primarily include customized haircuts, bespoke coloring services, advanced hairstyling as per the latest trends, and a variety of hair care products. We specialize in delivering personal attention to each client and working with them to create a unique hairstyle that aligns with their personal style and needs.

Our competitive edge in the market stems from the exceptional array of innovative services we offer, coupled with our high-level skills and meaningful client-stylist relationships. Unlike many of our competitors, every client at Curl Me Crazy receives a detailed consultation before any services are performed. This consultation, during which stylists understand client's lifestyle, hair texture, faces structure, and personal style, helps us create customized, flattering looks that can be easily recreated by clients at home.

Curl Me Crazy is currently in its first year of operations but has shown promising growth thus far. Backed by a solid business plan and a feasible financial model, we aim to break even by the end of the first year and gradually increase our revenue by 15-20% per year over the next three years.

Regarding intellectual property, we have registered the salon’s brand name – "Curl Me Crazy" - as a trademark to protect it from unauthorized use. We also respect copyright laws and use only licensed or custom-created music in our salon.

The production process for our hair services can be divided into four main stages: consultation, recommendation, execution, and homecare advice. Each stage is meticulously carried out by our certified and experienced stylists who strive to exceed client expectations.

At Curl Me Crazy, we recognize the importance of using high-quality professional hair care products to deliver brilliant results. We source our products from reliable suppliers who offer eco-friendly and cruelty-free products. We have established relationships with three main suppliers - L'Oréal Professionnel , Redken, and Aveda - to ensure a consistent supply of the highest quality hair care products.

In conclusion, Curl Me Crazy is a dedicated hair salon business with a focus on building a reputation as the destination for personalized and creative hair care services. With our defined path for growth and commitment to service excellence, we are geared up to make a difference in the hair salon industry.

Hair salon business plan: Products or Services

Marketing Strategy

Riding on the back of digital advertising, Curl Me Crazy will deploy a well-strategized digital marketing campaign majorly on Instagram and Facebook due to their wide user-base and marketplace feature. These platforms will be utilized for showcasing our work, including before and after transformations, tutorials, products, and reviews.

Sales Strategy

Our sales strategy is centered on relationship marketing. We will nurture strong relationships with our customers by understanding their preferences and delivering personalized service each time they visit our center.

To guide this process, we are investing in the deployment of a Customer Relationship Management (CRM) system for managing appointments, custodial of customer records and preferences, recall mechanism, and tracking client visit frequency.

Training would be provided for all staff members to comprehend our personalized approach towards sales and ensure uniformity across the team.

Pricing Strategy

Our pricing will be positioned at a medium-high level. We will aim to deliver a premium service experience, maintaining quality at all times to match our pricing. To ensure our services are accessible to varied customers, we will also introduce various bundles and packages, which will offer cost savings to the customers.

Distribution Channels

The primary distribution channel for our service delivery will be our salon. In addition to walk-in customers, we will offer an online appointment feature on our webpage and app. We will also explore partnerships with other beauty service apps, extending our reach.

Promotion and Advertising

Initial promotional activities will be concentrated on drawing customers to our salon. We will offer a 20% discount for first-time customers and a referral program that provides a 10% discount if an existing customer refers a new one. Advertising would be carried out through local newspapers, digital platforms, and billboard promotions.

Customer Service Policies

We operate on a 'Customer First' principle. Our front desk will be trained to address customer needs proactively and promptly. For any service-related complaints, we will offer a free corrective service or a service voucher as a remedy. We will also solicit customer feedback after each appointment to understand opportunities for improvement. Our aim is to drive customer satisfaction, retention, and word-of-mouth referrals.

Curl Me Crazy is poised to disrupt the hair salon industry by seamlessly blending high-quality, personalized services with an innovative operational workflow. Our primary objective is to offer trendy, creative hairstyles for young adults and professionals in a welcoming, relaxed, and efficiently run environment.

  • Operational Workflow: Our salon operates six days a week, following a dual shift system that ensures efficient and uninterrupted salon service. The staff rotation involves working in two shifts, with five stylists covering each shift. The first shift starts at 10:00 am and ends at 3:00 pm, and the second shift runs from 3:00 pm to 8:00 pm. Our peak hours, from 5:00 pm to 8:00 pm, will be catered to by all the stylists sharing the workload. This ensures continuous service without overwhelming the employees.
  • Production or Service Delivery Processes: As a salon, our core service delivery process involves three steps: appointment, service, and payment. An online booking system integrated into our website and mobile app facilitates client appointments, ensuring that service timing preferences are met accurately and avoiding unnecessary waiting times for clients. Outstanding customer service is our driving force, guaranteed through highly experienced employees consistently delivering trendy and unique hairstyles.
  • Quality Control Measures: We prioritize the highest standards of customer satisfaction combined with stringent quality control measures. We conduct regular training workshops where our stylists are updated on the latest trends and techniques. All our employees have met rigorous criteria for their roles, ensuring quality, creativity, and precision in the services delivered.
  • Inventory Management: Our salon performs regular inventory checks, ensuring that we never run out of essential products. We also employ a professional inventory management system that triggers an alert when any product reaches its reorder level. This keeps our salon adequately stocked at all times.
  • Supply Chain Management: We source hair care products from multiple reliable suppliers to prevent any potential disruption in our supply chain. In the event of delivery delays from one supplier, we always have an alternative to fall back on.
  • Facilities and Equipment Needs: Ensuring our salon's neat and welcoming atmosphere demands functional facilities and up-to-date equipment. These include but aren't limited to high-quality salon chairs, professional-grade hair dryers, washing stations, state-of-the-art styling equipments, and a comfortable waiting area for clients. Regular maintenance and timely upgrades are planned to ensure the premises remain at par with current standards.

In conclusion, Curl Me Crazy's solid operations plan is designed to facilitate smooth daily operations and exceptional customer satisfaction, spelling out sure success for the salon in the challenging hair industry.

Hair salon business plan: Operations Plan

At Curl Me Crazy, financial integrity is as important as the creative hairstyles we conjure. This section will outline our financial projections, including sales forecast, profit and loss projection, cash flow forecast, balance sheet projection, break-even analysis, and key financial assumptions.

  • Sales Forecast: In the first year, we aim for steady growth and recognize this as a crucial period for establishing a strong market presence. We project a monthly revenue of $10,000 that should grow to $20,000 by the end of year one. In the subsequent four years, this is expected to increase steadily, providing us a consistent annual growth rate of approximately 15%.
  • Profit and Loss Projection: As investments in marketing, renting, salon setup, and labor costs (salaries and benefits) will form our initial expenditure, we predict a loss in the first quarter. However, we aim to bounce back quickly and expect to start turning a profit by the beginning of the second year with a projection of $50,000. This profit is anticipated to increase year-on-year, reaching $100,000 by the end of year five.
  • Cash Flow Projection: We expect positive cash flow starting from the second year of operations. The first year may pose challenges due to an expected lull after the initial setup, but bearing minimum loan expenses and assuming a steady increase in customers, we should be able to maintain adequate cash flow.
  • Balance Sheet Projection: Our balance sheet will reflect our growth, with assets increasing progressively with profits and the addition of more salon equipment. Liabilities will reduce over time as loans are paid off, leading to a steady increase in owner’s equity.
  • Break-even Analysis: Our break-even point is projected to occur towards the end of the first year. This is based on initial estimations of fixed costs, variable costs, and the average customer spent per visit.
  • Financial Assumptions and Considerations: Our financial projections are based on several assumptions, including stable economic conditions, steady client growth, continued relevance of our unique hairstyles, and market price stability for salon supplies. It’s important to note that financial projections can be influenced by a variety of external factors such as economic downturns and increased market competition. To mitigate these risks, we'll allocate funds for contingency and regularly assess our financial strategies to be in line with the market conditions.

In conclusion, with the projected revenue growth and controlled operational costs, Curl Me Crazy is all set to carve a space for itself in the competitive hair salon market while maintaining financial sustainability.

Curl Me Crazy anticipates several potential risks in its journey to being an accomplished hair salon business. However, we also have several mitigation strategies and contingency plans developed to navigate them successfully.

  • Market Competition: The salon industry is highly competitive, with new businesses surfacing at many junctures. To rise above the competition, Curl Me Crazy will endeavor to provide unique services bolstered by a diverse range of skillsets our team possesses. Regular market analyses will help us stay tuned with the latest trends and techniques, enabling us in staying ahead of the competition curve.
  • Economic Downturns: A sluggish economy could affect our business due to potential reductions in disposable incomes of customers potentially undermining demand. We will counter this by diversifying our services to include low to medium budget options, ensuring we retain clients across various spending capacities.
  • Client Retention: Clients are spoilt for choice in our industry, thereby potentially obstructing client retention. We plan to invest in exceptional customer service and satisfaction as our key strategy, supplemented by loyalty programs that secure repeat business and promote referrals.
  • Supply Chain Issues: Any disruption in the supply chain can hamper operations, which could be due to various reasons such as logistics issues, stock unavailability, or supplier discounts. As a precautionary measure, we'll establish relationships with multiple suppliers ensuring uninterrupted supply and always maintaining a buffer stock.
  • Staff Turnover: Given the creative nature of stylists, one of the challenges we could face is employee retention. Keeping our staff challenged, acknowledged, and satisfied will be vital. We plan to foster a positive work environment with opportunities for personal and professional growth, and regular training to keep them updated with the latest industry trends.
  • Health and Safety Concerns: Stringent health and safety regulations govern our industry given its direct relationship with clients' physical well-being. We will adhere to all local and national regulations, keeping staff trained on safety protocols to eliminate any chance of dereliction.

Understanding that risks are inevitable, Curl Me Crazy has in place a robust contingency plan covering all facets of our business. We will establish an emergency fund to cushion against unexpected fiscal challenges, stay connected with the up-to-the-minute industry trends and pivots to keep our business relevant, and most importantly, keep our business model flexible and adaptable based on evolving circumstances.

Our insurance forecast includes extensive coverages that include liability insurance, covering bodily injuries or property damage, workers' compensation insurance to cover medical treatment and disability in case of an employee injury, and property insurance to cover any damage to our business property, lastly, business interruption insurance to cover lost income and continue operating expenses in the event of a disaster causing business disruption.

In the legal area, we will engage with a law firm to guide on all legal compliances required for our salon business. Legal considerations include complying with health and safety laws, employment laws, licensing laws, and applicable tax laws.

In conclusion, while risks are an integral part and parcel of any business, Curl Me Crazy is committed to effectively managing and mitigating any potential pitfalls that may arise along our path. Our comprehensive risk analysis, best practice mitigation strategies, contingency plans, and an all-embracing insurance cover ensure that we stand resilient in the face of any challenge.

Hair salon business plan: Risk Analysis

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Hair Salon Business Plan Template & Guide

Written by Dave Lavinsky

open hair salon

Hair Salon Business Plan

Over the past 20+ years, we have helped over 5,000 entrepreneurs and salon owners create business plans to start and grow their hair salons. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a hair salon business plan template step-by-step so you can create your plan today.

Download our Ultimate Salon Business Plan Template here >

What is a Hair Salon Business Plan?

A successful salon business plan provides a snapshot of your salon as it stands today, and lays out your growth plan for the next five years. It explains your business objectives and goals as the salon owner and your strategy for reaching them. It also requires you to conduct market research to support your plans. Your business plan is the roadmap to your salon’s success and growth.  

Why Do You Need a Business Plan for a Hair Salon?

If you’re looking to start a salon or grow your existing salon you need a business plan. A successful business plan will help you raise funding, if needed, and plan out the salon’s growth in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.  

Sources of Funding for Hair Salon Owners

With regards to funding, the main sources of funding for a salon business include bank loans and angel investors. With regards to bank loans, lending institutions will want to review your salon business plan and gain confidence that you will be able to repay your business loan payments including interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional business plan. Such a plan will give them the confidence that you can successfully and professionally operate a salon business.

The second most common form of funding for a salon is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan.  

Finish Your Business Plan Today!

How to write a business plan for your salon.

A hair salon business plan outline should include the 10 sections as follows:

Executive Summary

Company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

Your executive summary details an introduction to your salon business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of hair salon you are operating and the status; for example, are you a startup, do you have a hair salon with existing clients and revenues that you would like to grow, or are you operating a chain of hair salons.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the hair salon industry. Discuss the type of hair salon you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your hair salon’s marketing strategies. Identify the key members of your team. And offer an overview of your financial plan.  

In your company description, you will detail the type of hair salon you are operating.

For example, you might operate one of the following types:

  • Hair salon focusing strictly on hair cuts and hair styling
  • Hair salon offering other spa services or skin care services
  • Hair salon offering products
  • Combination of the above types

In addition to explaining the type of hair salon you operate, the Company Analysis section of your business plan needs to provide background on your business.

Include answers to question such as:

  • When and why did you start your hair salon business?
  • What is your business model?
  • What is your mission statement?
  • What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
  • Your legal structure. Are you incorporated as an S-Corp? A Limited Liability Company? A sole proprietorship? Explain your legal structure here.

In your industry analysis, you need to provide an overview of the hair salon business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the hair salon industry educates you. It helps you understand the market in which you are operating.

Secondly, a thorough market analysis can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards a new type of hair or hair service, it would be helpful to ensure your plan included offering such services.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the hair salon industry research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your hair salon business plan:

  • How big is the hair salon business (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your hair salon. You can extrapolate such as figure by assessing the size of the market in the entire country and then applying that figure to your local population.

The customer analysis section of your hair salon plan must detail the local clients you serve and/or expect to serve.

The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of hair salon you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing efforts than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most salons primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Your competitive analysis should identify your indirect and direct competitors and then focus on the latter.

Direct competitors are other hair salons in the local community.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes other local businesses that sell products such as hair dye, hair treatments, or styling products. You need to mention such competition to show you understand that not everyone in your target market frequents a hair salon on a regular basis or at all.

With regards to direct competition, you want to detail the other local businesses with which you compete. Most likely, your direct competitors will be hair salons located close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of customers do they serve?
  • What salon services do they offer?
  • What products do they offer?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior hair salon services?
  • Will you provide superior hair salon products?
  • Will you provide specialized services that your competitors don’t offer?
  • Will you make it easier or faster for customers to acquire your products?
  • Will you provide exceptional customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a hair salon business plan, your marketing plan should include the following:

In the product section you should reiterate the type of hair salon that you documented in your Company Analysis. Then, detail the specific hair services you will be offering.

Document your pricing strategy and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the service menu you will offer and their prices.

Place refers to the location of your hair salon. Document your location and mention how the location will impact your success. For example, is your hair salon located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of new clients.

Here you will document how you will drive new clients to your location(s) and the loyalty programs you will implement to keep your loyal clientele. The following are some promotional methods you might consider:

  • Making your hair salon’s front store extra appealing to attract passing customers
  • Developing and marketing your website
  • Social media marketing (advertising and organic posts)
  • Advertising in local papers and magazines
  • Reaching out to local bloggers and websites
  • Partnerships with local organizations
  • Local radio advertising
  • Banner ads at local venues

Also think about your hair salon’s Unique Selling Proposition (USP), which should answer why customers should choose your salon over others. Make sure your USP is reflected in your marketing.  

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your hair salon such as serving customers, inventory management, keeping the hair salon clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new salon.  

To demonstrate your hair salon’s ability to succeed as a business, a strong salon management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the hair salon business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in salons and/or successfully running retail and small businesses.  

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per day or 50? Will your average price point be $50 or $100? How much revenue do you expect to make each year? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your hair salon, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most salon owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 hair salon contract to provide hair salon services to their employees. Let’s assume the contract would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a hair salon:

  • Location build-out including design fees, construction, etc.
  • Cost of equipment like chairs, washing equipment, etc.
  • Payroll or salaries paid to staff
  • Business insurance
  • Licenses and permits
  • Legal expenses

Financial planning is about getting the numbers right to create a compelling and valuable hair salon business plan and, therefore, increases the chances of a successful launch of your new salon. The “right” type of numbers depends on who you are targeting the plan at. Consider the different needs of investors and lenders and what they want out of the financial section of your business plan.

Right for Investors

The numbers that investors want to see are realistic, but conservative, projections that still show a return that they feel is required by the level of risk they will take on by investing and by the opportunities to use their money elsewhere that they will give up (their opportunity risk). You lower the risk that investors feel they are taking on by showing proof of the management team’s experience, well-thought out marketing and operations plans, a quantifiable customer target market with demonstrated needs that the products and services of your salon will fulfill, and a competitive landscape which presents an opportunity for your business to steal some market share from the current players. Within the financial section, you support this lower risk by explaining your future revenue assumptions in a way that shows a gradual build up to profitability and a rationale for how the number of customers you expect is reasonable.

For some businesses, the return required by investors is only fully realized in the event of the sale of the business. However, an investor in a salon with modest dreams of being a local leader and an ongoing concern may show significant investor return through dividends paid out as the cash becomes available. For most investors, the return must be significantly greater than that of a safe investment like certificates of deposit or treasury bonds or mutual funds. Investors personally interested in your success (like family or friends) may not require as high of a annual return, while professional investors will be serious about a high return.

Right for Lenders

Lenders are most interested in the safe return of their principal with interest over time, and will not care so much about the absolute value of the company, beyond the value of its assets which can be seized and liquidated in the case of a loan default. To show lenders the numbers they want to see, the financial plan shows the business becoming cash flow positive relatively quickly to allow for these payments to begin, and for this situation to continue throughout the years after that point. Lenders will be interested in the value of assets that are being purchased (such as equipment, salon inventory, and real estate) and cautious lenders will want these assets to act as collateral and to limit their loan to this amount, unless personal assets are also offered as collateral. Lenders will share many of the same concerns as investors – that the rest of the plan is well-thought out, that financial assumptions are reasonable and conservative, and that the management team has the experience to lead.  

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your hair salon’s design blueprint or location lease.  

Free Business Plan Template for a Hair Salon

You can download our hair salon business plan pdf . Our sample hair salon business plan would also be a helpful resource for writing your own business plan.  

Hair Salon Business Plan Summary

Putting together a business plan for your hair salon will improve your company’s chances of success. The process of developing your plan will help you better understand your local market, your competition, and your customers. You will also gain a marketing strategy to better attract and serve customers, an operations plan to focus your efforts, and financial projections that give you business goals to strive for and keep your company focused.  

Additional Resources for Starting a Hair Salon

  • How to Start a Hair Salon Business
  • Essential Tips for Opening a Hair Salon
  • Do I Need a Cosmetology License to Open a Salon?
  • Hair Salons: Facts about Formaldehyde in Hair Products
  • What Type of Salon & Spa Should You Open?

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how our professional business plan consultants can create your business plan for you.

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How to create a hair salon business plan

  • Nirit Braun
  • Sep 12, 2023

How to create a hair salon business plan

When setting up your own hair salon, one of the most important initial steps is crafting a well-thought-out and detailed business plan. Consider it your styling guide for success in the hair and beauty industry. This document isn't just about the right cut and color it's your roadmap to achieving your salon's objectives, whether you specialize in trendy haircuts, stunning makeovers or relaxing spa treatments.

Your hair salon business plan will help you navigate the ever-evolving world of starting a beauty business , helping you start a business with confidence.

Ready to kick things off? Begin making a website with Wix .

Benefits of a hair salon business plan

A well-structured business plan is vital for a number of reasons. Below is a breakdown of the top benefits for you to bear in mind.

Getting investors interested: Your well-thought-out business plan isn't just for show; it's what can help you woo investors and raise money for your business . It shows them you've got a plan, clear goals and a vision for profitability. In other words, it makes them more likely to open their wallets and invest in your salon dream.

Figuring out what you need: Writing a business plan forces you to think about everything you'll need to run your salon smoothly—from supplies and equipment to staff. By the end, you'll have a good handle on your startup and operating costs. Don't forget to factor into this the cost of opening a business, starting an LLC for example.

Drawing up your game plan : Think of your business plan as your playbook for success. It lays out the steps to make your salon thrive, helps you set achievable goals and gives you a roadmap for reaching them. Plus, it's got your back when it comes to handling challenges, with strategies to tackle whatever comes your way.

Outshining the competition : While creating your plan, you'll dive deep into your salon's market and competitors. That research helps you understand your customers, spot industry trends and figure out how to stand out from the competition.

Running a smooth ship : Your business plan isn't just about the big picture—it's also about the nitty-gritty details. It helps you plan things like where your salon should be located, how it should look, what equipment to get and how to manage your staff effectively.

Playing it safe: In the financial part of your plan, you'll lay out your salon's expected income, expenses, and profits. This not only helps you see if your business will make money but also prepares you to make smart financial decisions. Plus, it's your insurance against unexpected bumps in the road.

Read more about how to start a service business .

6 steps to creating a hair salon business plan

Let's dissect the key components of a hair salon business plan:

Executive summary

Business and domain names

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

The executive summary is a concise overview of your entire hair salon business plan. It provides a snapshot of your business concept, strategies, financial projections and objectives. While it appears at the beginning of the plan, it's often written after the rest of the plan is complete to ensure all crucial details are included.

To write a clear executive summary for a hair salon business be sure to introduce your hair salon, detailing the services you offer and the unique value proposition that sets you apart in the industry. Then clearly state your short-term and long-term business goals. These should be specific, measurable, achievable, relevant and time-bound (SMART).

Remember to highlight what differentiates your hair salon from competitors, whether it's your exceptional stylists, innovative services or a specific niche you cater to. Als, provide a brief overview of the target market you're aiming to serve and the market demand for your services.

Offer a glimpse of your projected financials, including expected revenue, expenses and profitability within a specified timeframe. Additionally, include how much investment you're seeking or have secured to launch and grow your hair salon business.

Example of an executive summary for a hair salon business

"EleganceTresses Salon is poised to transform the hair care experience in the city. With a mission to blend style and artistry, we offer a range of premium hairstyling and beauty services that cater to a diverse clientele. Our SMART objectives include becoming the go-to destination for modern hair transformations, increasing customer retention by 20% in the first year and expanding our salon footprint to two additional locations within three years. What sets us apart is our team of master stylists, led by industry veterans with over 15 years of combined experience. We're seeking an initial investment of $250,000 to support salon setup, staff training and salon marketing initiatives . Our projected revenue of $500,000 in the first year, coupled with strategic partnerships, positions EleganceTresses Salon for rapid growth and profitability."

02. Business and domain names

Naming your business is crucial, as it will become an integral part of your brand identity. A memorable and relevant name enhances brand recognition and establishes trust with your customers. A business name generator can provide inspiration for a beauty business name that resonates with your salon's concept and values.

For more inspiration:

Nail business names

Beauty business name ideas

Selecting and registering a suitable domain name is equally important. Ensure your domain name aligns with your salon's name or services as this consistency makes it easier for customers to find you online.

Opt for a domain name that is simple to spell and remember and avoid using complex words or excessive characters. As part of this, if feasible, incorporate relevant keywords in your domain name to improve search engine visibility. Finally, check domain registration platforms to confirm your chosen domain name's availability.

Learn more about registering your business , which you’ll want to do once you’ve landed on a business name and a legal structure.

03. Market analysis and research

The market analysis and research section of a business plan is essential for understanding the competitive landscape and consumer preferences in the hair salon industry. This information forms the foundation of your business strategy.

Define your target audience based on demographics, lifestyles and hair care preferences.

Evaluate competing salons' offerings, pricing, location and customer reviews to identify gaps and opportunities.

Research industry trends, emerging styles and customer demands to align your beauty business ideas and services with current market expectations.

04. Operations plan

The operations plan details the practical aspects of running your hair salon. It covers location selection, salon design, equipment procurement and staffing.

Location: Describe how you'll choose a high-traffic, accessible location that caters to your target audience.

Interior design: Highlight your salon's ambiance, decor and layout to create a welcoming and appealing environment.

Equipment: Specify the types of equipment and products you'll use to provide top-notch services.

Staffing: Detail your staffing needs, including hairstylists, receptionists and other support roles and outline their qualifications.

Operation plans example:

"Our salon will be strategically situated in a bustling shopping district, attracting both locals and tourists. The interior design will exude contemporary elegance, featuring comfortable seating, modern decor and ample natural light. We'll invest in premium hairstyling equipment and a range of high-quality products to ensure exceptional services. Our staff will consist of experienced stylists specializing in diverse hair types and styles."

05. Marketing and advertising plan

The marketing and advertising plan outlines how you'll promote your hair salon, attract customers and build brand recognition. This can include marketing campaigns tailored to different customer segments, such as bridal packages, seasonal promotions or loyalty programs. Be sure to highlight how you'll utilize social media, a business website and online advertising to engage with customers and showcase your services.

Example of a marketing plan

"Our marketing strategy entails a mix of social media engagement and influencer partnerships. We'll leverage platforms like Instagram and Pinterest to showcase before-and-after transformations, share hairstyling tips and engage with our audience. Collaborating with local boutiques for joint promotions will enhance our visibility while offering special packages for bridal parties will establish us as a bridal hair expert."

Need some help building up your brand? Get inspiration from these beauty logo ideas and use Wix’s free logo maker to create your own, plus check out this guide on how to make a barber logo .

06. Financial plan

The financial plan section of your business plan provides insights into the financial aspects of your hair salon business. It will need to include a rundown of your initial expenses such as salon setup, equipment purchase, interior decor and initial marketing efforts.

After this, you'll need to estimate projected revenue based on services offered, pricing and anticipated customer volume. At the same time, document ongoing costs, including rent, utilities, staffing salaries, product replenishment and marketing expenditures.

Then lay out the initial investment you'll need and potential sources of funding, such as personal savings, loans or investors.

It’s also important to project when your hair salon is expected to become profitable based on revenue growth and expense management.

Example of a financial plan

"Startup costs are estimated at $120,000, covering salon setup, equipment and marketing campaigns. We project an annual revenue of $300,000 within the first year, with a steady increase of 15% in subsequent years. Operating expenses, including rent, staff salaries and product inventory, are projected at $180,000 annually. We anticipate becoming profitable by the end of Year 2."

steps to developing a business plan

Got another business idea in mind?

Still trying to decide on the best type of business to pursue? Check out the guides below and read about more service business ideas .

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Salon Business Boss

Starting a Hair Care Business: A Beginner’s Handbook

So, you’re all set to weave your entrepreneurial dreams into reality and dive headfirst into the world of hair care business? Fantastic! Starting a hair care business can be an exciting journey filled with innovation, creativity, and endless opportunities to make people look and feel their best.

Here are some essential steps to kickstart your hair care business: research your market, craft a solid business plan, create a captivating brand identity, and curate a skilled team. With the right strategy, you’ll be on your way to making heads turn and hair shine.

In this guide, we’ll walk you through the essential steps, from concept to execution, to help you set up a thriving hair care business.

Table of Contents

Market Research: Lay the Groundwork

Starting a Hair Care Business: A Beginner's Handbook

Market research serves as the critical cornerstone for laying the groundwork of your hair care business. Instead of hastily grasping your shears and leaping into action, take the essential step of conducting comprehensive market research. This phase is pivotal, as it offers a deep dive into understanding your potential customer base, their preferences, and the landscape in which you’ll be operating.

Are you inclined towards crafting natural hair products, offering upscale treatments, or catering to a specific hair type like curls? This decision acts as a compass for your business direction.

Delving into the market landscape allows you to discern gaps or unmet needs that existing market players might have overlooked. Here comes the significance of your unique selling proposition (USP). Your USP is what differentiates your business from the rest, showcasing what makes it exceptional. Think of it as your business’s distinctive trademark, something that customers can only experience through your brand.

Therefore, before you even contemplate picking up those shears and initiating business operations, ensure that you’ve diligently completed your market research. It’s not merely a ritual; rather, it’s your strategic guide in constructing a business that genuinely resonates with and serves your intended customer base.

Read more about: Salon Startup Costs: Building a Strong Financial Foundation

Create a Solid Business Plan

Developing a strong and organized business plan is akin to sketching out your path forward. This process involves outlining your business aims, articulating your mission, determining how you’ll price your offerings, and projecting your financial expectations. This plan should encompass all the elements, ranging from where you’ll acquire your products to how you’ll promote your business.

Why is this plan important? Think of it as your compass—a tool that directs your decisions. Moreover, if you’re considering financial backing from investors or loans, a comprehensive plan can work in your favor.

In simpler terms, your business plan is a blueprint that prevents you from getting lost in the forest of uncertainties. It’s your strategy document that helps you make informed choices and stay on course. By detailing your goals, mission, pricing, and financial projections, you’re setting up a roadmap that not only keeps you aligned with your vision but also demonstrates your preparedness to potential investors or lenders.

In essence, before you plunge into the intricacies of sourcing, marketing, and operational activities, ensure you’ve charted your course through a robust business plan. It’s your tool for direction and clarity as you navigate the terrain of the hair care business landscape.

Choose a Catchy Name and Brand Identity

Selecting a memorable business name and crafting a distinctive brand identity is like creating a recognizable face for your venture. This process involves choosing a name that aligns with your intended customers and mirrors the heart of your brand. Consider it as the initial handshake you offer to potential patrons.

Beyond the name, it’s valuable to create a logo that sticks in people’s minds and opt for a consistent color palette that captures your brand’s character. Visual appeal matters here, as it’s what catches the eye and lingers in memory.

Imagine your business’s name as a melody that resonates with those who hear it, while your logo and colors are the visuals that leave an imprint. They work together to form a distinctive personality that people can recognize and connect with.

In a nutshell, before you dive into the realm of business interactions, give careful thought to your business name, logo, and colors. These elements compose your business’s persona and play a role in attracting customers, much like the way flowers beckon bees with their colors and fragrance.

Legal Formalities and Permits

Starting a Hair Care Business: A Beginner's Handbook

Time to talk about the legal stuff, but don’t worry, it’s not as dull as it might sound. This phase involves a few important steps to ensure your business is on the right side of the law.

Firstly, you’ll need to officially register your business. Think of it like getting your business a proper ID card. This makes your business a recognized entity and gives you certain legal protections.

Next, there are permits. These are like special permissions that the authorities grant you to run your hair care business. It’s a bit like having the green light to start a specific kind of business activity.

Then, there are health and safety rules. These rules are there to make sure that both you and your customers are safe. It’s like having a set of guidelines to follow so that everyone’s experience is a positive one.

So, by handling these legal matters, you’re making sure your business is set up strong and stable. It’s like building a solid foundation for a house. This way, you’re ready to face any challenges that might pop up while you’re doing what you love – taking care of hair and making people feel great.

Read more about: Salon Space Planning: Maximizing Efficiency with Layout Ideas

Location Matters

Choosing the right location for your hair care business is a critical decision that can significantly impact its outcome. Are you picturing a warm and welcoming salon, a high-end spa experience, or perhaps an online store to reach a wider audience? The place you settle on can have a significant impact on how many customers you attract and how easy it is for them to access your services.

Imagine your business location as the heart of your operation, where you welcome and serve your customers. Just like finding a home that’s close to work or school makes life easier, placing your business where it’s convenient for your target customers can do wonders for your foot traffic.

Visibility matters too. Think of it as placing a big sign that says, “Come on in, we’re open!” Having your business in a spot where people can easily see it can make a big difference.

Lastly, consider what your customers prefer. If your focus is on providing relaxation and luxury, a tranquil location might be ideal. On the other hand, if you want to offer convenience, being in a spot that’s easily accessible from where your customers live or work is key.

Your business’s location is like finding the perfect stage for your show. By choosing wisely and keeping customer convenience in mind, you’re setting the scene for a thriving hair care venture.

Curate an Exceptional Team

Assemble a remarkable team; they are the pulse of your hair care enterprise. Bring on board skilled hairstylists, color experts, and professionals who mirror your love for hair care. Their expertise and dedication to customer service will play a pivotal role in nurturing a devoted customer base.

Think of your team as the engine that powers your business forward. Just like a well-coordinated orchestra creates beautiful music, a skilled and passionate team generates remarkable experiences for your clients.

Hiring experienced stylists and colorists is akin to having accomplished artists working on a masterpiece. Their skillful hands and creative touch will transform your clients’ hair and leave them feeling confident and satisfied.

Beyond technical skills, seek individuals who embody your hair care philosophy. This way, your team will not only share your vision but also contribute to the welcoming atmosphere you wish to create.

Remember, the individuals you bring on board aren’t just employees; they are the faces of your business. Their dedication, expertise, and ability to connect with customers will determine the resonance your hair care business achieves in the market. In essence, your team is your business’s personality, and curating an outstanding one will set the tone for a hair care journey that leaves a lasting impression.

Products and Suppliers

Starting a Hair Care Business: A Beginner's Handbook

The products you offer hold the key to your hair care business’s impact. The choice between triumph and disappointment hinges on the quality of what you provide. Partner with trusted suppliers to secure premium shampoos, conditioners, styling items, and tools.

Think of your suppliers as the backstage crew, working to ensure you’re equipped with the best resources. Just as a chef relies on top-notch ingredients to create a delicious meal, quality products are the foundation for excellent hair care results.

Consider what you stand for. If you’re all about natural or cruelty-free options, choose suppliers who share your values. Just like friends who share common interests, aligning with suppliers who understand and support your brand philosophy is vital.

Whether it’s eco-friendly, nourishing, or tailored to specific needs, the products you offer should be a reflection of your brand’s identity. Imagine them as your business’s ambassadors, speaking to customers even when you’re not there.

It’s not just about what you provide, but where it comes from. With the right products and trustworthy suppliers, you’re building a robust foundation for your hair care venture. So, invest wisely, and let your products tell your brand’s story with every use.

Read more about: Salon Savvy: Marketing Strategies for Hair Salons

Design a Memorable Space

When setting up a physical salon or spa, the way your space looks and feels holds immense importance. Imagine it like arranging a warm and cozy living room that reflects your style. This setting needs to be welcoming and comfortable, matching the essence of your brand.

Think of your interior design as the backdrop to your hair care story. Just as the right backdrop enhances a photograph, a well-designed space enhances your customers’ experience.

Consider the lighting, which is like the sunshine that sets the mood. Opt for lighting that flatters your customers and complements your chosen aesthetic.

Décor is your artistic touch. It’s like picking out the colors and patterns for your living room cushions. Make sure it aligns with your brand identity and resonates with your customers.

Arrange the seating in a way that encourages relaxation and connection. Think of it as arranging chairs for a friendly gathering. Comfortable seating ensures that your customers feel at ease while getting pampered.

Ultimately, your space design is the canvas on which your hair care vision comes to life. It should feel like a warm embrace, capturing the essence of your brand and ensuring that each customer enjoys a delightful experience. So, curate your space with care, and let it tell your brand’s unique story.

Effective Marketing Strategies

Time for the exciting phase – letting everyone know about your hair care venture! This is like telling friends about a cool new place to hang out. To start, use social media sites – they’re like virtual billboards where you can showcase your skills.

Imagine social media as a big community party. You share interesting stories and pictures to get people talking and interested in what you offer. Engaging content is your icebreaker – it sparks conversations and creates connections.

Influencer partnerships are like having popular friends at the party. When they talk about your business, their followers take notice. It’s like a recommendation from someone they trust.

But don’t forget the old-school methods. Think of flyers and local ads as handwritten invitations. They catch the attention of people nearby and remind them of your presence.

Collaborating with neighboring businesses is like joining forces with your neighbors for a street fair. You both benefit from the increased foot traffic, just like customers exploring your hair care services might discover other nearby shops.

So, spreading the word is all about building a friendly buzz, both online and offline. Use these strategies to make sure your hair care business gets noticed and becomes the go-to place for anyone looking to boost their hair’s charm.

Exceptional Customer Service

Starting a Hair Care Business: A Beginner's Handbook

Delivering remarkable customer service is like welcoming guests into your home. From the very first greeting to their departure, make sure your customers feel special and well taken care of. Think of it as treating them like close friends who’ve come to visit.

Imagine your business as a cozy haven where customers can relax and enjoy themselves. Just as you’d offer your friends snacks and drinks, provide your customers with a comfortable and pleasant experience.

Every interaction matters. Answering questions, offering assistance, and providing a friendly smile are like little gestures that show you care. Just like how kind words and attentiveness make a conversation enjoyable, your customers should feel heard and appreciated.

Think of customer service as building connections. When you treat your customers with respect and kindness, you’re building a relationship that goes beyond a single visit. A happy customer is like a loyal companion who not only comes back but also tells others about the great time they had.

Exceptional customer service is the heart of your business. It’s about creating a warm and welcoming atmosphere, much like hosting a gathering where everyone leaves with a smile. By making your customers feel valued and pampered, you’re laying the foundation for a loyal and satisfied clientele.

Read more about: Salon Layout Design: Space of Elegance

Engage and Expand

Maintaining a vibrant atmosphere involves more than just the initial launch – it’s an ongoing journey. Think of it like hosting a continuous series of enjoyable gatherings. Plan workshops, events, and special deals to keep the energy alive.

Imagine your hair care business as a place where the party never stops. Hosting workshops and events is like inviting friends over to learn something new or have a good time. It keeps the buzz going and makes your customers excited to be a part of what you offer.

Online engagement is like chatting with your friends on social media. Respond to your customers’ comments and feedback just like you would in a conversation. This interaction makes them feel valued and heard, fostering a sense of connection.

As your business gains momentum, consider growing its scope. Think of it as expanding your circle of friends. Exploring new opportunities and offerings allows you to cater to different needs and reach more people.

Remember, it’s about keeping the fire burning. Just as a series of enjoyable get-togethers keeps friendships strong, a steady stream of workshops, events, and online interaction keeps your customers engaged and excited. This ongoing effort sets the stage for your hair care business to evolve and thrive.

Adapt and Innovate

In the realm of hair care, change is a constant companion, and your business needs to dance along. Think of it as learning new steps to keep up with the beat. Stay tuned to the latest trends, techniques, and products to remain in sync with what’s happening.

Imagine your business as a flexible dancer on a dynamic stage. Just as a dancer adjusts their moves to match the music, your business should adapt to the shifting trends and demands. Embracing innovation is like adding new dance moves to your routine – it keeps things fresh and exciting.

Being open to adaptation is like adjusting your sails to changing winds. If customers want new things, think of it as being ready to offer them. Flexibility ensures you’re catering to their evolving needs, just like a dancer tailors their performance to the audience’s preferences.

Staying relevant is the name of the game. Just as a skilled dancer learns new styles, your business should be willing to evolve. By embracing change and embracing innovative approaches, you’re setting the stage for a business that not only keeps up with the times but also sets new trends in the world of hair care.

Remember, every thriving venture begins with a dream and evolves with determination, hard work, and a sprinkle of creativity. As you embark on this exciting journey, keep in mind that challenges will arise, but each hurdle presents an opportunity to learn and grow. So, hone those scissors, craft your dreams, and watch as your hair care business evolves into a remarkable story in the expansive landscape of beauty and entrepreneurship.

Frequently Asked Questions

Starting a Hair Care Business: A Beginner's Handbook

Q: What are the key considerations before starting a hair care business?

A: Prior to launching a hair care business, it’s crucial to conduct thorough market research, create a comprehensive business plan, establish a unique brand identity, source quality products, and build a skilled team.

Q: How do I choose the right location for my hair care business?

A: When selecting a location, factors like customer convenience, visibility, and alignment with your target audience’s preferences play a significant role. Carefully evaluate potential spaces to maximize foot traffic and accessibility.

Q: What steps are involved in building a strong brand identity for my hair care business?

A: Crafting a memorable brand involves choosing an appealing name, designing a recognizable logo, and selecting a consistent color scheme that resonates with your target customers and reflects your business values.

Q: What are some effective marketing strategies for promoting a hair care business?

A: Leveraging social media platforms, creating engaging content, collaborating with influencers, using local advertising, and organizing events are effective ways to spread the word about your hair care business and attract a loyal customer base.

Q: How can I ensure exceptional customer service in my hair care business?

A: Providing exceptional customer service entails hiring skilled and friendly staff, creating a comfortable and welcoming ambiance, addressing customer feedback promptly, and consistently going above and beyond to exceed customer expectations.

To learn more on how to start you own salon checkout my startup documents here.

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hair business business plan

About the author. Entrepreneur and Salon Business Fan.

Hi! I am Shawn and I am a happy individual who happens to be an entrepreneur. I have owned several types of businesses in my life from a coffee shop to an import and export business to an online review business plus a few more and now I create online salon business resources for those interested in starting new ventures. It’s demanding work but I love it. I do it for those passionate about their business and their goals. That’s why when I meet a salon business owner, I see myself. I know how hard the struggle is to retain clients, find good employees and keep the business growing all while trying to stay competitive.

That’s why I created Salon Business Boss: I want to help salon business owners like you build a thriving business that brings you endless joy and supports your ideal lifestyle.

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Hair Salon Business Plan

hair business business plan

Cutting and styling hair is an art not many are adept with.

After all, it takes more than artistic talent to give cuts that suit different hair. And if you are someone who has this talent, then you might have thought of having your hair salon business.

Having your hair salon business is possible and just requires two things for success. That is, skills to make people’s hair look pretty and a hair salon business plan .

Here are a few facts about the hair salon industry and steps to setting up your business. But at the same time, the prospect of having a business is overwhelming to many of us. You don’t need to worry, though!

Industry Overview

The spa and salon market stood at an impressive value of $138.9 billion in 2020, and as people continue to return to salons after the pandemic, the market’s value is expected to rise at a higher rate.

The rise in personal care and beauty spending is one of the major reasons for the growth of the hair salon industry.

Apart from beauty purposes, hair salon businesses have also seen a rise due to the increasing demand for hair care services.

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Things to Consider Before Writing a Hair Salon Business Plan

Find your usp.

A hair salon gives several services including cutting, coloring, styling, and hair care. Apart from that, your customer service, prices, and a lot of other things make your services a package deal for your customers.

But out of everything that makes up your business, you have to do something that you do differently or better than your competitors. This would help you stand out and become memorable to your customers.

Build your client base

Although this is an ongoing process, getting a head start with building your client base is essential. Know what sources you can use to reach out to your clients, what makes them pick a hair salon service, what makes them come back, and so on.

Knowing these things gives you an edge over businesses that dive right in without an action plan.

Find the ideal location

The ideal business location will be both accessible and functional. A good location for a hair salon would be either located in a busy neighborhood or a place that people frequent between home and work.

A good location makes accessing your services more convenient and hence more in demand.

Design your salon for both form and function

Although, it is advisable to hire a designer to design your salon in a way that is functional and also looks appealing. But cash crunches, startup costs, and whatnot might leave lesser scope for a designer in your budget.

In such a case, you can design your salon with the help of catalogs, outside inspiration, and your creativity to make it as functional as possible and build upon and redesign it as your business grows.

Writing Your Business Plan

If you are planning to start a new hair salon business, the first thing you will need is a business plan. Use our sample hair salon business plan created using upmetrics business plan software to start writing your business plan in no time.

Before you start writing a business plan for your new hair salon business, spend as much time as you can reading through some samples of hair and beauty salon business plans .

Reading some sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample hair salon business plan for you to get a good idea about how perfect a hair salon business plan should look and what details you will need to include in your stunning business plan.

Hair Salon Business Plan Outline

This is the standard hair salon business plan outline which will cover all important sections that you should include in your business plan.

  • Business Overview
  • Our Services
  • Goals and Objectives
  • Keys to Success
  • Katarzyna Doe
  • Legal Business Description
  • Hiring Plan
  • Products & Services
  • Market Trends
  • Target Market
  • Market Analysis
  • Customer Profile
  • Competitive Summary
  • Competitive Advantage
  • Sales & Marketing Strategy
  • Sources of Income
  • Sales Forecast
  • Pricing Strategy
  • Publicity and Advertising Strategy
  • Personnel Plan
  • Startup Costs
  • Important Assumptions
  • Profit & Loss Projections
  • Balance Sheet Projections
  • Cashflow Statement
  • Business Ratios

After  getting started with Upmetrics , you can copy this hair salon business plan example into your business plan and modify the required information and download your hair salon business plan pdf and doc file. It’s the fastest and easiest way to start writing your business plan.

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Download a sample hair salon business plan

Need help writing your business plan from scratch? Here you go;  download our free hair salon business plan pdf  to start.

It’s a modern business plan template specifically designed for your hair salon business. Use the example business plan as a guide for writing your own.

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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  • February 27th, 2024
  • Business Tips

How to Write a Hair Salon Business Plan

Are you thinking about opening your own hair salon? Or maybe you already have a salon and are thinking about opening another location?  

Well, when it comes to opening a new salon business, knowing how to write a hair salon business plan can make or break your success. The good news is—we’re here to help. 

In this article, we’ll go over the ins and outs of creating a hair salon business plan. This includes everything from market analysis and financial projections to your goals for the future. Having a plan will help you obtain funding and stay on track as you grow. 

Let’s get started. 

Do I Really Need to Write a Business Plan for a Hair Salon?  

You wouldn’t drive from San Francisco to Boston without either a GPS or a map, right? So, you shouldn’t run a business without a plan either. 

A hair salon business plan is a roadmap for your beauty business. Whether you have two chairs or 200, it’s essential for your ongoing success. 

In fact, opening or expanding a business has a lot more at stake than a drive across the country. You may have saved or taken out a loan to start your salon. And you likely have employees or contractors who are dependent on your business sense, too. 

A business plan gets you organized when you’re first starting out or opening a new location. Plus, it keeps you on track as you grow. You can reach or exceed your goals, but you must know what they are first. And you need to have a detailed set of strategies to use along the way. 

Let’s go back to our road trip metaphor.  

Suppose you want to get from California to Massachusetts. First, you figure out how many miles or hours the journey will take. Then, you divide that by how many miles or hours you can comfortably drive in a day. That’s how many days it will take. Finally, you plan overnight stops along the way for each of those days to make the drive doable. 

A salon business plan isn’t much different. You probably have goals for things like: 

  • How much gross income you want to bring in 
  • How much profit you want after overhead and labor 
  • Ideal business model structure (e.g., booth rent vs. commission) 
  • Services you would like to offer clients 
  • Places where you’d like to open additional salons 

Without a specific business plan for how to make them happen, those are just pie-in-the-sky dreams. You need a more granular approach to turn them into a reality. 

For instance, how much money do you need to make each month to reach your desired net profits? If that’s how much you need to make each month, what do you need to make daily, assuming you’re open five days per week? How many chairs do you need to have? At what capacity do you need to operate? 

Not to mention, you’ll almost certainly need a formal business plan if you want to get financing for your salon. Salon equipment and real estate can be quite expensive. A bank may loan you money to get set up, but only if they see you have done your homework first. 

Lenders don’t want to back a business that is more likely to fail than to succeed. And new hair salons have an average success rate of 50% in the first three years of operation. 

That means half of those businesses will fail. Most fail not because of a lack of talent or ambition but because the owner doesn’t know how to properly run a business. You can be the best hairstylist in the world. But if you consider things like business accounting and marketing, you will likely lose more money than you are bringing in every month. 

Do you want to be in the 50% of new salons that thrive? Keep reading to learn the step-by-step method of developing a business plan for your salon. 

RELATED ARTICLE:  

Owning a Hair Salon: Your Launch Guide  

hair stylist at salon front desk on laptop

How to Write a Hair Salon Business Plan: Step by Step  

Below you’ll find information on each section commonly included in a business plan. But first, here’s a tip to help you make the most of these categories. 

Use the SMART method for setting goals. What are SMART goals ? They are: 

  • Specific – highly detailed, not vague 
  • Measurable – able to be quantified with hard numbers and actionable items mapped out to achieve the goal you’ve set 
  • Achievable – doable within the framework of your business model 
  • Relevant – related to your salon today, not somewhere else or too far in the future 
  • Time-bound – tied to specific dates for end goals and milestones 

Any time you set a long-term or short-term goal, ask, “Is it SMART?” If not, dig deeper to get the details you need to make it work. 

Executive Summary  

Think of the executive summary as the introduction to your salon business plan. It gives brief information about: 

  • The purpose of your salon and who it will serve 
  • Your business objectives (offer something novel, expansion, etc.) 
  • How your salon will be different from your competitors 
  • Why you think the business will perform well 

For instance, you could talk about how you plan to open a salon in a busy urban area to cater to downtown employees. Your client demographic is primarily white-collar workers aged 25 to 45. 

Your unique selling proposition , or USP, is what makes the salon special. Say it’s that it will offer 20 and 50-minute appointments to fit into standard lunch breaks. Additionally, you’ll have 10-minute appointments for fast services during coffee breaks. 

Customers can get a quick trim on their fringe or ends. Beard and mustache trims are another rapid service you will offer. Everything can be booked and paid for online to streamline the process and get customers in and out in a jiffy. 

Maybe after work hours, your salon will be open for more traditional appointments. And you’ll have more quickie services available for businesspeople going out at night. They can get an updo, blowout, or style refresh before a date. On Fridays, you’ll offer manicure services too. 

In your business plan, you’d want to outline howyour USP will help your salon be successful. For our example, you might say you believe the salon will do well financially because of three factors: 

  • The area is currently underserved by hair salons. 
  • You are catering to the needs of businesspeople in your locale. 
  • You hired an experienced stylist who’s bringing their clients with them. 

You don’t have to get into a ton of detail yet. This is a proverbial bird’s eye view of your business proposition. You could, however, outline a rough roadmap of how you envision your business will start and where you see it going in one year and five years. 

For instance, perhaps you plan to start with one location and 10 chairs. Five years from now, you want to open two additional locations. At that time, you will add new services like brow waxing and makeup consultations. 

You can mention market analysis in this section, too. Market analysis looks at competition and consumer needs in your niche. However, there will be a place later in your business plan to address this in more detail. 

Remember, your executive summary is an investor or lender’s first impression of your salon business. Therefore, you want to make it shine. 

Company Description  

This section goes into detail about the structure of your company. How long have you been in business? Who are the owners and managers? 

You’ll also want to review how many employees or contractors you plan to have. Will they be employed under W2 status, or will they contract as 1099 workers? 

Will hair stylists pay you a fee for the use of a chair? Will your salon take a cut of their fees? How will tipping be structured? 

For example: 

  • Our salon is a startup organization that is not yet in business. 
  • It is co-owned by two stylists who participate 50-50 in leadership. 
  • There will be 10 chairs in total in the salon. 
  • Eight contract stylists will be working as 1099 independent contractors. 
  • Contract stylists will pay a monthly chair rental fee and a percentage of their billables to the owners. 
  • All tips will go to the employed stylists, with a percentage going to a shampoo assistant. 
  • Contract stylists make a commission on products sold in the salon. 
  • You will also have two paid receptionists who will be W2 employees. 

You will go into more detail about financials in the Services and Pricing section. But this section should give readers an understanding of the basics of your planned salon operations. 

You can also include funding or investing requests in this section. Again, you will have further opportunity to dive into financials later. But touching on what you need to open or expand gets readers primed as they go through the next four sections. 

woman reading a laptop and taking notes

Market Analysis  

The market analysis section of your business plan is another area where you can wow readers and make your salon stand out. It answers the question, “Why you, and why now?” 

Remember, you don’t want to fit in with all the other salons in the area. Instead, you want yours to be unique . 

Your hair salon might be unique because of its business model, like the hypothetical one described in the executive summary. Or it could be you have a string of well-known stylists. 

Perhaps you offer extra luxury services and product lines. Maybe you offer great prices. It could be the whole vibe of your salon that’s one of a kind. Maybe it’s a retro nod to the ‘70s or a high-tech glimpse into the future. 

You don’t want to pitch your salon with a kitchen sink-style of features. After all, when you appeal to everyone, you really appeal to no one. But you can list several unique attributes that will give you a competitive market edge. 

In this section, you’ll show what the current market is like in your location. How many other salons are within a mile or two? Who do they cater to? Is there a gap you can fill to capture more market share? 

Be realistic. If everyone who comes through your door is on a tight budget, you can’t offer $300 color jobs. You need to match your services to your demographics. 

If you’ve ever sold a real estate property, you’ve done something similar to a business market analysis. You or your agent prepare “comps” or comparables. The comps show how your property is special, while reviewing what the rest of the area has to offer. 

Whether your salon is brand new or you’re opening a new location for your existing salon business, you may need to conduct market research. You can do this on your own or hire a consultant to do it for you. 

The more populated the area in which you operate, the more complicated market research is likely to be. If you’re in a suburb or rural community, there may only be a few hair salons to compete with. 

Don’t forget to include how your USP and ability to fill a need relates to industry trends. Let’s use the example above. There is a current national trend towards more online conveniences for salon customers. So, offering online payments and booking is going to help you stay at the front of the curve. 

Also, employees are feeling busier than ever these days. They struggle with work-life balance. And many are returning to the office after working remotely for several years. 

Your salon leverages this trend as well by providing stress-free quick appointments that fit into work breaks. Workers can get their hair done over their lunch hour and make better use of their personal time after work. 

If you have an existing business that you’re expanding, you can survey your clientele. Maybe you’re going to a second location because it’s underserved. Or perhaps you’re adding more services because that’s what clients want.  

It’s great to be able to give objective data that says there’s a need for your services. 

Hair Salon Industry Trends for Growing Your Salon Business  

Marketing Strategy  

How do you plan to promote your new salon or additional location? That’s the focus of this section of the plan. 

Some common salon marketing methods include: 

  • SEO website 
  • Social media accounts 
  • Paid advertising 
  • Loyalty programs 
  • Cross-promotion with other businesses 
  • Flyers in area office buildings 
  • Bulk mailings with coupons 
  • Free makeovers 
  • Local news editorial coverage 
  • Online review platforms 

An SEO (search engine optimized) website is a great place to start promoting your business. You can add other components later. An optimized website is set up to rank higher on search engines like Google and Bing. 

How do you improve a website’s SEO? 

  • Use keywords related to your exact services that clients would search for when looking for a hair salon. 
  • Be sure to mention your location multiple times on the website, including your state and local landmarks. 
  • Add a blog for value-added content with links to authoritative sources. 
  • Get your salon mentioned on other websites and in social media mentions. 

This section overlaps with your market analysis. You’ll be using your unique selling proposition to focus marketing campaigns. Every marketing effort is an opportunity to promote what makes your salon stand out. 

Talk about how you plan to cement the two cornerstones of a healthy salon business: 

  • Repeat customers who book appointments regularly 
  • New customers who keep things fresh and balance natural attrition 

How to Design and Roll Out a Beauty Salon Rewards Program  

Management and Organization  

Here’s where you can go into more detail about your salon’s company structure and staff payment plan. You can include elements like credentials here, particularly if you or a manager have a business background or education. 

Don’t simply list how you plan to pay workers. Explain why this is best for your salon business’s long-term financial health. 

Are you and any other owners taking a salary? What corporate structure are you using (LLC, S corp, etc.)? Your state may determine how you want to set this up.  

Speaking with an accountant can clarify questions for you, especially about taxes. 

stylist and client choosing hair dye color from a book

Services and Pricing  

This section of your hair salon business plan outlines the meat and potatoes of what your salon will offer. It is essentially a menu of all the services and treatments you provide. It also includes prices for each. 

You can mention why you chose the pricing model you did. For example, if you’re serving affluent clients in a resort area, you can justify charging a little more. Or you might do group pricing because you serve a lot of bridal parties. 

Don’t forget to add any products you plan to sell. Why is carrying these items beneficial to your business? 

Financial Projections  

Financial projections are the nuts and bolts that lenders want to see. They’ll also keep you on the right path as you grow your salon. 

You’ve already outlined your services and pricing. Now, it’s time to do the math and calculate what that means in terms of income. 

Answer these questions first: 

  • What do you expect your salon to gross (total income) in a year? 
  • What are your overhead expenses (rent/mortgage, staff, utilities, wholesale supplies, etc.)? 
  • What portion of your expenses are due to payroll? 
  • Do you have to make capital purchases for equipment? Will these be paid with a lump sum, financing, or rental payments? 
  • What is the net profit you expect (gross income minus overhead and expenses)? 
  • Where do you predict expenses or income will change over the next few years? 

You want to make your business plan financial projections look truly professional. So, break them down into these categories: 

  • Sales forecast – total sales expected over the next several years 
  • Expenses budget – all the costs you need to operate 
  • Profit and loss (P&L) statement – a 12-month summary of revenue versus expenses 
  • Cash flow statement – how cash moves in and out of your business, including monthly payments 
  • Projected balance sheet – items that aren’t in your P&L, like interest debt, equity, and other factors that affect the net worth of your business 
  • Break-even analysis – what you need to earn (at least) to make your expenses and start turning a profit 

A certified public accountant (CPA) can help you put together this part of your business plan for a reasonable fee. It’s well worth it if it helps you obtain investors or bank funding. 

How You Can Start Writing a Hair Salon Business Plan Right Now  

Ready to get started on your hair salon business plan today? Use these tips right away to make it both convincing to lenders and helpful as an internal roadmap: 

  • Write a mission statement. To write a solid executive summary, it’s helpful to first compose a mission statement. This delves into why you want to open your business in the first place. Some people include this in their executive summary. Others keep it private and use it as an inspirational jumping-off point. 
  • Include milestones in your financial projections. These are points where you will examine progress and see if you’re on target. Be ready to course correct if you’re not hitting your goals. 
  • Compile an appendix. It’s a good idea to include an appendix in your business plan with copies of extra materials. This is an ideal place to include photos of your salon, certifications, licenses, and financial documents. It will keep everything organized for you and make you look more professional to lenders. 
  • Enlist help. If you have questions about certain sections of your salon business plan, consider consulting with the appropriate professionals. Paying a one-time fee to an attorney or CPA can save you money and headaches down the line. You could even consider hiring a business manager to deal with office and financial issues. 
  • Research your competition. If you’re not sure what services to offer or how you stand out, do some in-person recon. Visit competitor salons and check out influencers on social media. How can you align with service gaps and trends to make the most of your business? 
  • Explore salon management software. Salon management software can save you a lot of time and make your job a lot easier. For instance, you can use it to quickly and easily generate reports to keep a pulse on your performance. It’ll also help you with other tasks related to your financial success. The best salon management software can automate appointments, keep track of inventory, and assist with marketing. 

Learn How to Manage a Hair Salon Business with SalonBiz  

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Hair salon business plan: a complete guide

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Learn how to build a hair salon business plan, from budgeting to deciding upon your ideal client, logo, and more.

Table of contents

If you landed on this page, you are likely about to start your journey as a new hair salon owner. We welcome you, dear beauty entrepreneur, to the world of cash flow statement, market analysis, business management, and marketing strategy.

Having your own salon is a wild ride, and we at Appointible want to help you start on the right foot (aka, beauty salon business plan).

In today’s article, we will present a hair salon business plan outline, from defining your services to growing a healthy business.

We also support the idea that a beauty salon business plan should be rich but straightforward enough that salon owners can see clear, actionable steps; thus, we include things like tools and resources and leave others out, such as an executive summary.

Step 1: Define your hair salon services

hair stylist dying hair of female client

The first step in building a business plan for your salon starts with defining your services. You may already have an idea of the hairstyles and services you want to offer, but it’s essential to consider some critical factors before finalizing your offerings.

Some of these factors are easy to understand, while others may require more attention, so in this section of the article, we will go through each of them.

List what you know how to do (and what you don’t)

Start by creating a list of all the hair styling services you can provide. List what hair-cutting styles and hair-care services you can perform. Consider all your certifications, work experience, and others to build your list.

Then, list the hair and beauty services that you lack the knowledge to perform. It can be that you miss the required qualifications or is just out of practice; either way, list them as things you can’t offer at your new salon.

If there are gaps in your knowledge that you want to cover, mark them distinctively, as we will come back to courses, training, and certifications later in this article.

Decide if you will hire employees.

Deciding whether you will hire employees – and how many – depends on your budget as much as on your business goals. We already discussed in Appointible  how to assess if you need to hire employees  for your salon business, so be sure to check that one out.

Nonetheless, a more minor salon may only require a couple of employees, such as a stylist or assistant. In contrast, a larger hair salon business may need a bigger team to manage multiple services, as well as tasks such as cleaning, reception, and marketing.

Take a peak at competitor salons.

When it comes to listing your hair salon services, your local competition is a great place to start. Start by analyzing what different hair cutting, hair care, and beauty services the competition offers, as it will give you an idea of what the local market expects from a hair salon.

This step of your beauty salon business plan should start from your immediate competition – neighborhood or city – but not leave out important salons from other parts of the state or country.

Keep up with industry trends.

It’s crucial to stay up-to-date with the latest trends in the hair industry to give your salon a competitive advantage. Following trends not only ensure that your business remains relevant but it also helps attract and retain clients.

Consider subscribing to trade magazines and blogs that cover the latest news and developments in the hair industry. This comprehensive list of beauty blogs ( https://bloggingtips.com/best-beauty-blogs/ ) from Blogging Tips gives an idea of where to start. Attending conferences, trade shows, and workshops is also an excellent way to learn from other professionals and get insights into the newest techniques, products, and services.

This knowledge can help you tailor your offerings to meet the changing demands and preferences of your clientele.

Why Appointible?

  • Online booking website
  • Access from any device
  • SMS & Email reminders
  • Take customer Before & After photos
  • Multi-location support

Step 2: Create a detailed financial plan

Now that you have a clear idea of your target market, what services you will provide, and a general idea of at what price point, it is time to start building a financial plan for your hair salon.

Needless to say, you will need much more than a business bank account and card to call it a day and claim you have a financial plan in place. Let’s see in this step of the article how to effectively create a solid financial plan for your hair salon business.

A: Calculate your beauty salon budget

As we discussed previously in the article  top 10 habits of successful businesses , a budget is telling your money where to go instead of wondering where it went. This mentality of always being equipped with a proper budget will go a long way on your road to success.

Here are some of the budget lines you might consider when you write a business plan.

For courses and certifications

hair dresser student at course cutting hair of a model

Earlier in this article, we had you write all the hair services you feel confident (or have the certification for) providing, as well as identify the gaps in your knowledge and what courses and learning paths you should take.

This is the moment of your salon business plan where your list of services and connect them to what courses and certifications you will need to invest in – whether for you or for employees.

Pro tip: plan ahead and save some recurring budget for learning for you, your stylists, and even your management team – some courses can be related to marketing, productivity, or other admin-related fields.

For a Hair salon business license

All legal business entities must have their respective licenses. Business licenses need to be paid and applied for, so the best way to deal with it is to contact a professional specialized in the beauty salon industry or approach the competent local chamber and institutions.

As licenses vary depending on location and specific services you offer, we can’t provide an exact figure. Prepare a budget line for an expense of around $500.

For Utilities and rent

Another important budget line for a hair salon business plan is the cost of utilities and rent. Rent will likely be your largest recurring expense, so it’s important to budget accordingly. You should research the average rent costs in your area and factor that into your budget, but you can expect to pay around $1000 to $2000 on rent alone.

Additionally, you’ll need to consider the cost of utilities such as electricity, water, and gas. To save on utility costs, consider investing in energy-efficient appliances and lighting and making sure your space is well-insulated. You wouldn’t believe how much these savings slowly add up in your finances.

For Hair salon equipment and supplies

You’ll need to purchase equipment such as chairs, styling stations, hair dryers, and shampoo bowls, as well as supplies such as hair products, towels, and cleaning items. Create a list of all the salon equipment and supplies you will need, and then run market research.

Ideally, run a search on wholesale beauty e-commerce, such as www.salonwholesale.com . Alternatively, network with a local community of hair stylists and salons to get an idea of there are local suppliers that offer more competitive prices.

For marketing efforts

Marketing is a crucial aspect of any successful business, including a hair salon. It’s important to allocate a budget for marketing efforts to reach prospective customers as well as retain existing clients. Think of social media, website development, ads in local outlets, etc.

To save on marketing costs, consider using free marketing channels such as social media and email marketing. You can also create your own marketing materials using free online design tools such as Canva.com or Visme.co .

For Hiring hair stylists

hair stylist caring for clients hair in a hair salon

If you plan to hire hair stylists for your salon, you’ll need to factor in the cost of hiring and onboarding new employees. This can include expenses such as job postings, recruiting fees, and training costs.

When budgeting for hiring, consider the average salary and benefits for hair stylists in your area. You may also want to factor in the cost of providing employee benefits such as health insurance and paid time off.

To save on hiring costs, consider using free job posting websites or social media to advertise open positions. You can also offer referral bonuses to current employees to incentivize them to refer qualified candidates.

It’s important to have a clear understanding of your staffing needs and to create a hiring plan that aligns with your business goals. This will help you avoid overstaffing or understaffing your salon and ensure that you have the right team in place to provide high-quality services to your clients.

B: Calculate your rates and prices

Once you have a clear understanding of your salon’s expenses, it’s important to calculate your rates and prices in order to generate revenue and make a profit.

When setting your rates and prices, consider factors such as your expenses, your target audience, and your competitors’ pricing. You should also consider the value of your services and the quality of your customer experience.

Here are some steps you can take to calculate your rates and prices:

Run a break-even analysis: This is the point at which your salon’s revenue covers your expenses. To calculate your break-even point, divide your total expenses by the number of services you expect to provide each month.

Research your competitors’ pricing: Research the pricing of other salons in your area that offer similar services. This will give you a sense of the market rate for your services.

Set your prices: Once you’ve determined your break-even point and researched your competitors’ pricing, you can set your prices. Consider pricing your services slightly above the market rate to reflect the quality of your salon and the value of your services.

Review and adjust your pricing: It’s important to regularly review your pricing to ensure that it aligns with your expenses and your business goals. You may need to adjust your pricing over time as your expenses or market conditions change.

Step 3: Build your brand and target market

Building a strong brand is essential for any successful hair salon business. A strong brand helps to create a loyal customer base and can differentiate your salon from competitors. Here are some steps you can take to build your brand and target market.

Define a good mission statement.

A mission statement is a clear and concise statement that defines the purpose and values of your salon. It should communicate the core values of your salon and what makes it unique.

To create a good mission statement, ask yourself the following questions:

What do you want to achieve with your salon?

What values do you want to communicate to your customers?

What makes your salon unique?

Once you have answered these questions, you can use them to create a clear and concise mission statement that reflects your salon’s values and purpose.

Define your hair salon’s ideal clients.

professional hairdresser drying hair of the ideal client

Defining your ideal clients is an important step in building your brand and targeting your marketing efforts. Knowing your ideal clients helps you to tailor your services and marketing messages to their needs and preferences.

To define your ideal clients, consider factors such as age, gender, income level, and lifestyle. You can also consider the types of services and products that your ideal clients are likely to be interested in.

With a defined ideal client, you can create marketing messages and promotions that resonate with them and attract them to your salon.

Define your hair salon’s name.

Choosing a name for your hair salon is a vital part of brand-building – so much so that we wrote an entire article on  picking a name for your hair salon . In short, your salon name should be memorable and reflect your salon’s values and purpose.

When choosing a name, consider factors such as: What do you want your salon name to communicate to your customers? Is the name easy to remember and pronounce? Is the name available as a domain name and social media handles?

We highly advise you to read through the article above, as you will surely come out with a name fit for successful businesses.

Step 4: Pick your salon location

outdoor from a hair salon venue without logo

Location is the most important aspect of any real estate deal, whether you are renting a place for your new business or buying a house.

Choosing the right location for your hair salon is crucial to the success of your business. Here are some steps to help you pick the perfect location:

Understand the local market and competition.

Researching the local market and competition will help you understand the demand for beauty services in the area and identify potential competitors.

Consider factors such as population demographics, income levels, and the proximity of other hair salons. Look for gaps in the market that your salon can fill or areas where you can differentiate yourself from the competition.

Pick a location with your target clients in mind.

Time to refer to the part of your beauty salon business plan where you defined your ideal client. Look for a location that is easily accessible and convenient for your target clients. For example, if your target clients are busy professionals, you may want to choose a location near office buildings or shopping centers.

Align with your brand.

Your salon location should align with your brand and communicate the values and personality of your salon. For example, if your salon is focused on eco-friendly and sustainable practices, you may want to choose a location that is environmentally friendly or close to parks and nature reserves.

Choose the right salon size.

Choosing the venue size is another make-or-break point when it comes to location. Consider factors such as the number of chairs you need, the size of your waiting area, and the size of your backroom for storage and supplies. A larger salon may allow you to accommodate more clients, but it may also come with higher overhead costs, as well as potentially looking “empty.”

Ultimately, choosing the right location for your salon requires careful research and consideration. Take the time to evaluate your options and choose a location that will help your salon thrive.

Step 5: Craft a marketing plan for your hair salon

A well-crafted marketing plan is essential to help you promote your hair salon, increase service sales, and keep existing customers coming back. Here are some tips to help you create an effective marketing plan.

Share your work online.

We could name this section “create a social media presence.” However, if there is one thing you should be working on systematically in social media is sharing your work. Yes, indeed, you would also benefit from a website, but social media is hands down the best place to show actual clients hair cuts and their feedback.

Share before and after photos, and short videos of the end result of a client’s hairstyle, ask for 5-star reviews, and more. Aim to share your work at least every second day on social media.

Continuously launch new promos.

Offering promotions and discounts is a great way to attract new customers and encourage existing ones to come back. Consider launching different types of promotions, such as referral discounts, seasonal discounts, or loyalty programs.

Keep your promotions fresh and exciting to encourage repeat business. For example, offer a discount on new services or products you introduce or host a giveaway for a free hair care package.

Build a text message marketing routine.

Text message marketing is an effective way to communicate with your customers and keep them informed about promotions, new services, and other updates. Collect your customers’ phone numbers and build a text message list to reach out to them.

Send regular updates to your text message list, but be sure not to overdo it. Limit the frequency of your messages and offer valuable content such as special promotions or early access to new services.

Step 6: Pick a dedicated booking system

Choosing the right booking system is essential for running a successful hair salon. So much so that we dedicated an entire step in your salon business plan to it; a reliable booking system can streamline your operations, help you manage appointments, and keep your clients happy.

Pen and paper can only do so much for your salon business, and free services, such as Google Calendar, are simply not fit for the job. Here are some of the things you will get to do once you pick an online appointment scheduling software for your hair salon:

You will receive appointments 24/7

With appointment scheduling software, you can get clients any time of the day, any day of the week. Working hours will become a thing of the past when it comes to selling your services.

You will boost your marketing strategy.

An appointment scheduling software can help you integrate your marketing efforts seamlessly. With automated emails and SMS reminders, you can promote your services, offer discounts, and send personalized messages to your clients. This way, you can stay top-of-mind with your customers and ensure that they keep coming back to your salon.

You will reduce the admin workload

Gone are the days of answering endless phone calls, jotting down appointments, and dealing with booking conflicts. With an online booking system, you can automate your scheduling process, send automatic appointment reminders, ask for confirmations, and more, freeing up time to focus on growing your business.

You will seamlessly manage your staff.

With a booking system, you can assign staff members to specific services, manage their work hours, and monitor their performance. You can also give your stylists access to their own calendars, which will allow them to see their schedules and manage their bookings.

An appointment scheduling software for salons looking to grow in 2023

hair business business plan

Appointible is a powerful appointment scheduling software that is specifically designed for the hair and beauty industry. With Appointible, you can manage your salon’s bookings, staff schedules, and customer data all in one place. Appointible offers a range of features, including online booking, automated reminders, staff management tools, and an analytics dashboard, to help you streamline your salon’s operations and grow your business.

Create a free account with Appointible  and elevate your salon business plan.

Step 7: Your salon’s growth

If you followed the previous steps correctly, your hair salon is now up and running smoothly. However, you may wonder how to keep your salon growing and thriving in the competitive market. That’s why we dedicated this section to showing you the different paths for salon growth.

Horizontal salon growth

One way to grow your salon business is through horizontal growth. This means expanding your services, hiring more stylists, opening new locations, and so on. If you plan to expand horizontally, it’s important to reflect that in your branding and salon size from the outset.

For example, if you plan to have a bigger salon and offer more services, invest in the necessary equipment and create a marketing plan to attract new customers. This way, you can make sure your salon is ready for growth when the time comes.

Vertical salon growth

Another way to grow your salon is through vertical growth. This means specializing in a select number of services and aiming to become the best in the industry. By focusing on quality over quantity, you can charge higher prices and keep payroll, supplies, and overhead costs to a minimum.

To achieve vertical growth, you need to build a strong reputation and brand identity around your specialty services. This might include targeted marketing campaigns, creating a niche social media presence, and offering exceptional customer service.

No matter which growth path you choose, it’s important to research your options, plan carefully and stay up-to-date with the regulations in your area. Continuously review your efforts and tweak your strategies as needed to ensure your salon continues to grow and succeed.

We hope this article has been helpful in guiding you through the steps of opening and growing a successful hair salon business. Remember to stay dedicated, maintain a strong brand, and always put your customers first. Good luck in your journey to success!

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How To Create a Successful Salon Business Plan in 10 Steps [+ Template]

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Looking to open your own salon? Despite a looming recession, it’s a great time to do so — beauty industry statistics show the salon industry grew about 17 percent in 2022 , and the majority of Americans claim they’re not planning to cut back on beauty spending anytime soon. 

But before you start rounding up clients, you will need a thorough salon business plan to align your goals. While it may be tempting to jump in on the action as soon as possible, taking the time to plan your business properly will set you up for success in the long run. From market analyses to advertising campaigns, we’ll walk you through everything you need to know to create a winning salon business strategy.

1. Create your mission and vision statement

First things first — what are you planning to do with your new salon business? To answer this question, you’ll need to put some serious thought into your mission and vision statements. These statements articulate the purpose and goals of your salon and will guide the rest of your business plan.

Image covers differences between mission statement and vision statement.

Mission vs. vision statements

While mission and vision statements are often used interchangeably, there are differences between the two. It’s recommended that a new business have both statements before laying out its business plan.

A mission statement describes the short-term goals of the company — essentially defining the core purpose of the company and how it plans to achieve that purpose. Let’s break down this example of a salon’s mission statement:

Mission Statement

“We strive to offer our clients the highest-quality cuts at affordable prices because every woman deserves to look and feel her best.”

In this example, the business plans to offer high-quality cuts at affordable prices — the “what” and “how” —  because they believe “every woman deserves to look and feel her best” — the “why,” or core purpose.

The mission statement serves as a roadmap to achieving your business’s vision statement.  A vision statement defines your salon’s big-picture aspirations — the driving force behind your short-term actions and goals. Here’s a vision statement the example salon above might write:

Vision Statement

“We strive to expand our services nationwide as the premier choice for affordable, high-quality cuts.”

This example clearly states the business’s future goals to help define the path toward future success.

2. Know your market

Before you open your doors, you need to know who you’re opening for (your target audience) and what salons you’re up against (your competitors). Both will provide valuable information to help you determine what your clients value most .

Recognize your target audience

Your target audience is a particular group of people who may be interested in your services. A target audience profile can be broken down into four main characteristics:

  • Demographic: The main characteristics of your target market, including age, income level, gender, occupation, and education level
  • Geographic: Where your audience lives, works, or travels 
  • Psychographic: Your target audience’s lifestyle, attitude, interests, and values
  • Behavioral:  What your ideal clients want, why they want it, and how they go about achieving their needs

Let’s face the facts — everyone and their mom could use a cut and color. It’s up to you to determine who to market your business to. Are you most interested in serving the most high-end clientele, or would you rather cater to college students looking to experiment with fun, trendy styles? Will the area of town you’re located in affect how you position and price your services? 

Knowing your target audience will influence every stage of your business plan, so it’s essential you recognize what their needs and motivations are from the start.

Conduct a market analysis

Analyzing your salon’s target audience is just the first step in breaking down your target market. To truly get a comprehensive view of your business landscape, you’ll want to conduct a market analysis. 

A market analysis is a thorough assessment of your specific market within the salon industry. In addition to defining your target market, a market analysis should include:

  • Potential clients’ buying habits
  • The size of your target market
  • The state of the industry and industry projections
  • How much your potential clients are willing to pay for your services
  • Who your main competitors are
  • Your competitors’ strengths and weaknesses

A thorough market analysis is essential for reducing risks, identifying emerging trends and opportunities, and projecting revenue. It’s good practice to reevaluate your findings annually and adjust your salon’s business plan accordingly. Plus, you’ll be able to factor in actual customer feedback once your doors are open.

Take advantage of free market research tools like Google Trends, SurveyMonkey, and data from the Bureau of Labor Statistics and U.S. Census to aid in your market research strategy.

3. Identify your strengths, weaknesses, opportunities, and threats

With a better understanding of how you plan to position your salon within your target market, you’re ready to dive into your first SWOT analysis. A SWOT analysis is a compilation of internal and external factors that will impact your business.

Image defines strengths, weaknesses, opportunities, and threats (SWOT) for business.

Internal factors are resources and experience readily available to you — they’re categorized as either strengths or weaknesses. Examples of internal factors to include in your SWOT analysis are:

  • Financial resources
  • Physical resources
  • Human resources
  • Natural resources
  • Trademarks, patents, and copyrights 

Your opportunities and threats are defined by external factors, such as:

  • Market trends
  • Economic trends
  • Demographics
  • Suppliers and partners
  • Political, environmental, and economic regulations

Once you’ve completed the SWOT framework, create an innovative business strategy that will leverage your strengths and opportunities to overcome your weaknesses and threats. The SWOT analysis compels you to take a methodical and objective look at where you stand now and what you need to do to succeed.

4. Draft your salon’s executive summary

With your target market and new industry knowledge in mind, it’s time to create the most important part of your salon business plan: the executive summary. 

An executive summary is a short synopsis of your overall business plan and intentions for your new salon. Don’t let its size fool you — your executive summary is the first impression business partners and investors will have of your business. While it may be brief,  your executive summary must make an impact.

Business strategy experts agree that an executive summary should be between 5 and 10 percent of the length of your entire business plan.

What to include in your executive summary

A solid salon executive summary will provide a ton of useful information condensed into a short, sweet, and easy-to-understand package. Try your best to tie in the following when drafting your summary: 

  • Strong introduction: If you want to capture your reader’s attention immediately, you’ll want to put together an introductory paragraph that not only pulls them in, but explains who you are, what you offer, and what problems you intend to solve. Keep your intro short and concise.
  • Market view: Based on your market research analysis, briefly summarize the state of your target market, the needs of your target audience, and how you plan to position your salon amongst your competitors. 
  • Unique selling points: What will your salon bring to the table that’ll set it apart from competitors? List any unique selling points that customers and stakeholders will find valuable. 

Financial expectations and forecasts: If you plan on sharing your business plan with potential investors or stakeholders, list the projected expenses and costs it’ll take to open and operate your salon, as well as what profits you expect to generate within the first six months. Explain why your salon needs financing and why investing in your business is a smart move.

5. Write your salon’s unique business description

Congratulations on completing the research portion of your salon business plan — it’s finally time to start bringing your dream salon to life! 

First and foremost, you’ll need to figure out how to brand your salon. There are almost a million registered hair salons in the U.S., so how can you make yours stand out?

Start by drafting your salon’s business description — this should set the scene for what customers can expect when walking into your salon. Are you hoping to give off a funky, casual vibe? Or maybe a more elegant ambiance, champagne included? The tone of your business description should convey this, as well as:

  • Services you specialize in
  • Packages or perks you offer
  • Unique selling points that distinguish you from other salons

With a business description in place, you can now create a company logo and tagline to complete your new brand!

6. List your products, services, and prices

Let’s get down to the nitty-gritty — what are you offering, and how much will it cost? While you may be able to do it all, some services will pay off better than others. You may be doing yourself a disservice if you purchase all the supplies for perms when your clients want blowouts. 

To determine which services and products will benefit your business the most, ask yourself the following questions:

  • What is my target audience interested in?
  • What do I have experience in?
  • What is trending?
  • What are my competitors offering (or more importantly, what are they not)?

Once you have your service list set, you’ll need to calculate pricing . Striking a balance between making a stellar profit and attracting and retaining clients is one of the most difficult parts of running any business. Consider these factors when determining a fair price for your salon services:

  • Similar rates in your area
  • Cost and use of supplies
  • Time spent on the service
  • Your experience level

Review and reevaluate your services and pricing at least once a year to ensure you’re charging your worth. Cost of living, supply costs, and any additional training you may have undergone warrant a price change — just be sure to notify your loyal regulars before new pricing goes into effect.

7. Lay out your salon’s operation and logistics plan

While the earlier sections of your salon’s business plan defined your goals, your operation and logistics plan will detail how you plan to meet them. Your operations plan will have two sections:

  • Short-term processes: List all the tasks, employees, vendors, software, and supplies you’ll need to run your salon on a day-to-day basis.
  • Long-term milestones: Describe what you hope to achieve in the future. For new businesses, this could include the date you plan to finalize your lease, your grand opening date, or the date you hope to reach your first $100,000 in sales. 

Putting together your operations and logistics plan may make you realize just how much work goes into running a salon. Scheduling appointments, promoting your new business, managing payment processes, and tracking down no-shows on top of actually performing your services can get really overwhelming, really fast. Learn how StyleSeat can help you manage and grow your business so you can focus on what you do best.

hair business business plan

8. Define your marketing and outreach strategy

No matter how much effort you put into designing your salon, acquiring top-of-the-line tools, or hiring the best stylists in your area, no one’s going to schedule an appointment at your salon if they don’t know you exist. That’s where your salon marketing and advertising strategy comes into play.

While there are literally thousands of way to bring attention to your salon, these marketing and outreach tactics are tried and true:

Build a website

Whether you’re targeting tech-savvy Gen Zers or old-school baby boomers, you’ll need to ensure your business is Google-able. Building your website should be the first step in creating your online presence. For the best customer experience, make sure to include your salon’s:

  • Contact information and address 
  • Services and pricing
  • Unique selling points and mission statement
  • Customer reviews and testimonials
  • Links to social media profiles

Invest in social media marketing

Harness the power of Instagram , Facebook, TikTok, Pinterest, and more with a dedicated social media marketing and influencer strategy. Sharing behind-the-scenes content, before and after photos, and happy customer reactions can make your business appear more personable and reputable. It’s also a great way to boost engagement, interact with your client base, and cultivate brand awareness.

Studies Show

44 percent of beauty salons were focused on growing their social media profiles in 2022, and 35 percent of stylists claim their growing social following was their biggest opportunity for business growth.

Establish rapport and build customer loyalty

Convincing a potential customer to give a new hairstylist a try is a lot more difficult than it seems. One way to sweeten the deal is to offer first-service discounts or lower prices the first few months to get interested clients through the door . If they’re happy with your service, they’ll likely stay — especially if you have a loyalty program in place that offers discounts and perks for regular customers!

8. Get your finances in check

If you’ve already set your prices, take a bow — the hardest part of your salon’s financing strategy is already done. However, you’ll need to take your money a step further to get a rough idea of how your business will progress on a monthly and annual basis. This is especially important if you plan on applying for a loan or seeking investors. 

It may be best to put together your full financial statement three to six months after opening your salon. It should include your income statement, balance sheet, and cash flow statement so you and your stakeholders can get a better understanding of your salon’s financial health. 

Income statement

Your income statement lists both your revenue sources, expenses, and net income over a given period of time. This should include:

  • Cost of sales
  • Administrative expenses
  • Operating expenses
  • Non-operating income and expenses
  • Gains and losses
  • Non-recurring items

If you haven’t opened your salon yet, you can project future milestones with the same information.

Balance sheet

Your balance sheet provides a look at how much equity you have in your business. It consists of two parts:

  • Business assets: What you own, such as cash, accounts receivable, inventory, prepaid expenses, or salon supplies  
  • Liabilities: What you owe, including loans, credit card balances, payroll taxes, accounts payable, and your lease 

Once you’ve listed your salon’s business assets and liabilities, you can calculate your shareholder equity by subtracting the total value of your liabilities from your assets.

Cash flow statement 

Your cash flow statement will help you see when cash is low, when you have a surplus, and when you might need to access funding to keep your business afloat. Your cash flow statement lists revenue and expenses similar to your income statement, but it also takes into account when revenue is collected and when expenses are paid. 

Your cash flow is positive when you have more cash coming in than you have going out, and negative when the opposite is true.

Using graphs to visualize your cash flow can help you forecast when you may need to adjust operations to account for negative cash flow.

10. Plan for the future

With a well-structured business plan in hand, you’re ready to take on whatever the market has in store for you — at least for the first six months. But if you want to stay on top of industry fluctuations, the newest marketing trends, or competitor announcements, consistently review your salon business plan and company goals.

Salon business plan template

Opening a new salon requires a lot of moving parts — from remodeling your space to hiring your A-team, putting together your actual business strategy can get lost in your to-dos. Download this free helpful template to streamline your business plan and keep your goals top of mind.

The average profit margin for salons is 8.2 percent — 0.5 percent higher than the general business average of 7.7 percent. Salon owners in the U.S. can expect to make between $14,441 and $385,332, with an average salary of $74,699.

The startup cost for your salon will depend on a number of factors, including the type of salon, location, size, number of employees, and type of clientele you’re hoping to attract. Expect to spend anywhere from $10,000 to $200,000 before your grand opening.

Salons can make more money by implementing an effective marketing and advertising strategy, running promotions and contests, and reevaluating their pricing structure. Research your industry, emerging trends, and your competitors’ strategies for inspiration.

A thorough salon business plan can help you determine your short- and long-term goals, resources required, and effective strategies to drive business to your salon. Ready to hit the ground running? StyleSeat can help you manage and grow your new salon — no monthly fee required.

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Hair Business Plan Template & Guidebook

Starting a hair business can be daunting and overwhelming. With so many questions on how to get started and where to focus your energy, it’s easy to feel lost. But now, you don’t have to worry anymore – the #1 Hair Business Plan Template & Guidebook makes the process of launching a successful hair business simple and stress-free! Read on to discover how this ultimate guidebook can get you up and running in no time.

Nick

Get worry-free services and support to launch your business starting at $0 plus state fees.

  • How to Start a Profitable Hair Business [11 Steps]
  • 10+ Best & Profitable Hair Business Ideas [2023]
  • 25 Catchy Hair Business Names:
  • List of the Best Marketing Ideas For Your Hair Business:

How to Write a Hair Business Plan in 7 Steps:

1. describe the purpose of your hair business..

The first step to writing your business plan is to describe the purpose of your hair business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a hair business:

Our mission is to provide our clients with a premium hair styling experience that is tailored to each individual and which will exceed their expectations. We are committed to offering the highest level of service, craftsmanship, and value while creating stunning looks that reflect our clients' unique personalities.

Image of Zenbusiness business formation

2. Products & Services Offered by Your Hair Business.

The next step is to outline your products and services for your hair business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

  • What is my business?
  • What are the products and/or services that I offer?
  • Why am I offering these particular products and/or services?
  • How do I differentiate myself from competitors with similar offerings?
  • How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

Image of Zenbusiness business formation

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your hair business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your hair business includes the following elements:

Target market

  • Who is your target market?
  • What do these customers have in common?
  • How many of them are there?
  • How can you best reach them with your message or product?

Customer base 

  • Who are your current customers? 
  • Where did they come from (i.e., referrals)?
  • How can their experience with your hair business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

  • How does it work, what features does it have, and what are its benefits?
  • Can anyone use this product or service regardless of age or gender?
  • Can anyone visually see themselves using this product or service?
  • How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

  • Which companies are competing with yours today (and why)? 
  • Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
  • What specific advantages does each competitor offer over yours currently?

Marketing channels

  • Which marketing channel do you intend to leverage to attract new customers?
  • What is your estimated marketing budget needed?
  • What is the projected cost to acquire a new customer?
  • How many of your customers do you instead will return?

Form an LLC in your state!

hair business business plan

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

  • The equipment and facilities needed
  • Who will be involved in the business (employees, contractors)
  • Financial requirements for each step
  • Milestones & KPIs
  • Location of your business
  • Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a hair business?

  • Salon chairs
  • Hairdryers/curling irons
  • Combs, brushes, scissors, etc
  • Products to style hair (gel, mousse, hairspray, etc)
  • Makeup, mirrors, capes
  • Business permit

5. Management & Organization of Your Hair Business.

The second part of your hair business plan is to develop a management and organization section.

This section will cover all of the following:

  • How many employees you need in order to run your hair business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
  • The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
  • How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Hair Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a hair business varies based on many different variables, but below are a few different types of startup costs for a hair business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your hair business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your hair business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your hair business plan:

  • Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
  • Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
  • Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
  • Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
  • Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
  • Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

hair business business plan

Frequently Asked Questions About Hair Business Plans:

Why do you need a business plan for a hair business.

A business plan is an important tool for any business, including a hair business. It helps you to identify your goals and objectives and plot out a roadmap to reach them. It can also help you to assess financial risk, analyze market trends, identify customer needs and develop strategies for success. Additionally, it can be used as a tool to help secure funding from investors or lenders.

Who should you ask for help with your hair business plan?

You may want to ask a mentor or advisor in the hair industry for help with your business plan. You can also contact a business consultant or a small business incubator program for assistance. Additionally, you can research online for tips and templates to get started.

Can you write a hair business plan yourself?

Yes, it is possible to write a hair business plan yourself. Before writing your business plan, it is important to do research on your competitors and the hair services you plan to offer. Make sure you consider all the necessary aspects of creating a successful business, such as costs, pricing, marketing strategies, target demographic and more. Once you have done your research, create an outline for your plan that includes an executive summary and market analysis along with all of the pertinent information about your proposed business. Finally, flesh out each section with as much detail as possible in order to provide potential investors with a comprehensive view of your business goals and objectives.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

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Hair Extensions Business Plan Template

Written by Dave Lavinsky

Hair Extensions Business Plan

You’ve come to the right place to create your Hair Extensions business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Hair Extensions businesses.

Below is a template to help you create each section of your Hair Extensions business plan.

Executive Summary

Business overview.

Hairapy Extensions is a new hair extensions shop located in the heart of Los Angeles, California. Our mission is to make every customer feel empowered and beautiful by providing them with the perfect hair extensions and hair care products. We do this by offering every style and color imaginable so that every customer can find exactly what they want to feel and look their best. With our amazing customer service and enormous selection, we hope to be the most popular hair extensions store in the city in the next few years.

Hairapy Extensions is founded by Angelina Matthews, who has been a hairstylist for five years. Throughout her career, he has sold and inserted hair extensions for hundreds of customers and has found it to be the most enjoyable part of her job. As such, she has extensive knowledge of hair extensions and how to insert and care for them. Her experience and expertise will be the company’s most valuable asset.

Product Offering

Hairapy Extensions will showcase a wide variety of hair extensions throughout our store. Our hair extensions will come in all colors, from natural hair colors to fun dyed colors like pink or blue. We guarantee that every customer will find the perfect hair extensions that fit their style and budget. We also sell hair care supplies and accessories to ensure that our customers’ new hair extensions last as long as possible.

Customer Focus

Hairapy Extensions will serve the community residents of Los Angeles, California, and its surrounding areas. We will primarily target female and female-identifying people, as this group is traditionally the most likely to buy hair extensions and hair care products. We also expect most of our clientele to be in the age range of 20-40, as young women are much more likely to get hair extensions than women in other age ranges.

Management Team

Hairapy Extensions is led by Angelina Matthews, an experienced hairstylist and salon manager with over five years of experience. Throughout her career, she found inserting hair extensions to be the most enjoyable aspect of her job and wanted to build a company that solely focuses on hair extensions. After years of planning, she is finally ready to start her business. Her extensive knowledge of hair extensions and the industry will be the company’s most valuable asset.

Success Factors

Hairapy Extensions is primed for success by offering the following competitive advantages:

  • Friendly and attentive staff who will go out of their way to find the perfect hair extensions for each customer.
  • Comprehensive supply of hair extensions that includes every color and texture imaginable.
  • Cost-effective pricing that rivals the competition without sacrificing service or quality.

Financial Highlights

Hairapy Extensions is currently seeking $280,000 to launch. The funding will be dedicated to the store design and buildout, working capital, overhead, supplies, and marketing costs. The breakout of the funding is below:

  • Store design/build: $150,000
  • Initial inventory, supplies, and technology: $50,000
  • Payroll, rent, and overhead costs (3 months): $30,000
  • Working capital: $25,000
  • Marketing expenses: $25,000

The following graph below outlines the pro forma financial projections for Hairapy Extensions.

Hairapy Extensions Pro Forma Financial Projections

Company Overview

Who is hairapy extensions.

Hairapy Extensions is a new hair extensions shop located in the heart of Los Angeles, California. We provide an enormous selection of hair extensions to choose from, with every style and color imaginable. Customers can get natural colors to match their natural hair, such as blond, brunette, or red. They can also get dyed hair extensions if they want to add some color to their hair, such as blue, purple, pink, or green. Customers can expect to find the perfect hair extensions that fit their style and budget when shopping with Hairapy Extensions.

  Our store will be located in downtown Los Angeles, nearby fashion stores, hair salons, and other hair care stores. We will also have an online shop for those who don’t live in Los Angeles or can’t make it to our location to make a purchase in person.

Hairapy Extensions’ History

Angelina Matthews incorporated Hairapy Extensions as an S-Corporation on August 1st, 2023. Angelina has identified a potential retail location and is in the process of negotiating a lease. The company is currently being run out of her home but will move to the retail space once the lease is finalized.

Since its incorporation, Hairapy Extensions has achieved the following milestones:

  • Found a retail space and signed a Letter of Intent to purchase it
  • Developed the company’s name, logo, and website
  • Determined equipment and inventory requirements
  • Begun recruiting key employees with previous experience in the beauty/hair care industries

Hairapy Extensions’ Services

Hairapy Extensions will sell a wide variety of hair extensions online and in our store. We will offer several styles and every color imaginable, including numerous shades of blond, brown, red, pink, purple, and blue. Whether a customer wants longer hair, a style change, or a little bit of color without dye, we can find the perfect extension to fit their needs and budget. We also sell hair care products that ensure the extensions last as long as possible.

Industry Analysis

Hair extensions have been a part of style and fashion for centuries. In the past, hair extensions exemplified power and position and created lasting fashion trends. They were used to thicken and lengthen hair as well as to maintain a youthful appearance. It is believed that many powerful figures used hair extensions, including Cleopatra and Queen Elizabeth I.

The current hair extension industry is a thriving industry that helps many people show off their unique style and feel more comfortable in their bodies. Many people purchase hair extensions when they want to try a certain hairstyle but can’t pull it off naturally. Hair extensions are also popular amongst people who want to color their hair without destroying it with dye and bleach. Finally, hair extensions help many people suffering from thinning hair due to age or illness.

According to Future Market Insights, the current hair extensions industry was valued at $2.38 billion last year and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from now until 2032. The industry is positively affected by the rise in disposable income as well as beauty trends created and spread by social media. These trends are expected to continue, and the hair extensions industry is expected to thrive for the foreseeable future.

Customer Analysis

Demographic profile of target market, customer segmentation.

Hairapy Extensions will primarily target the following customer profiles:

  • Women/female-identifying people
  • Young adults
  • People with conditions that affect their hair

Competitive Analysis

Direct and indirect competitors.

Hairapy Extensions will face competition from other businesses with a similar company profile. A summary of the competitor companies is below.

Hair Heaven

Hair Heaven is a major online warehouse that sells wigs and hair extensions. They have every color and style imaginable, which makes them an incredibly popular hair extensions supplier nationwide. They are particularly popular with beauty supply stores as they can sell their products wholesale. Though Hair Heaven is a popular source of hair extensions, it is a completely online store. Customers who want to talk with a professional and purchase hair extensions in person will be more inclined to come to Hairapy.

Lanie’s Wig & Hair Supply

Lanie’s Wig & Hair Supply is a small, locally-owned supplier of all things hair care. This includes organic shampoos, hair extensions, wigs, and accessories. They offer many colors and styles of wigs and hair extensions to choose from, and many customers report being satisfied with their products. The store also has a few hair stylists on standby who can help them clean and style their hair extensions and wigs as needed. Though Lanie’s will continue to thrive, their selection is much smaller than ours. Our inventory will be far more enticing, and we will be able to find hair extensions for far more customers than Lanie’s can.

Sally’s Salon

Sally’s Salon is a popular and hip hair salon business located in downtown Los Angeles, California. People all over the city come here to get their hair cut and styled to keep up with current fashion and trends. In addition to providing hair styling services, Sally’s sells a large assortment of wigs, hair extensions, and hair care accessories. Customers can choose some hair extensions and have a stylist insert and style them all in the same appointment. Since Sally’s is such a popular salon, we expect them to be our biggest direct competitor.

Competitive Advantage

Hairapy Extensions will be able to offer the following competitive advantages over their competition:

  • Management : Our management team has years of experience in the hair care industry, which allows us to sell to and serve customers in a much more sophisticated manner than our competitors.
  • Friendly Staff : Our staff understands that buying hair extensions can be a stressful and difficult process, especially for those who need them to hide their thin or damaged hair. Hairapy Extensions only hires the friendliest staff who can work with these customers in a compassionate manner.
  • Inventory : Hairapy Extensions aims to own the largest and most diverse collection of hair extensions that can be found anywhere in Los Angeles, California.

Marketing Plan

Brand & value proposition.

Hairapy Extensions will offer a unique value proposition to its clientele:

  • Friendly and helpful staff
  • Affordable pricing on all products
  • A large inventory of unique and stylish hair extensions that include every color and style imaginable

Promotions Strategy

The promotions strategy for Hairapy Extensions is as follows:

Influencer Marketing

Hairapy Extensions will partner with local beauty influencers to spread the word about the company. The company will offer discount codes to the influencers’ audiences to entice them to shop our products.

Angelina Matthews will invest in appealing billboards and marketing techniques for the company. The billboards will be located in highly trafficked areas of Los Angeles where the visibility is highest.

Social Media

Hairapy Extensions will have Instagram and Facebook business profiles where Angelina will post professional and appealing pictures that will draw in anyone looking for hair extensions. The posts will be able to show the beautifully designed store as well as satisfied customers with their new hair extensions. Angelina will also post upcoming specials and special offerings.

Website & SEO Marketing

The marketing assistant will design and manage a comprehensive and attractive website for Hairapy Extensions. The website will be easy to navigate and include pictures of our products, pricing, contact information, and location. The SEO will also be managed to ensure that anyone searching “hair extensions near me” or “hair extensions Los Angeles” will see Hairapy Extensions listed at the top of the Bing or Google search engine.

The pricing of Hairapy Extensions will be moderate and on par with competitors so customers feel they receive value when buying our hair extensions.

Operations Plan

The following will be the operations plan of Hairapy Extensions. Operation Functions:

  • Angelina Matthews will be the Owner and President of the company. She will oversee the general operations of the store as well as provide customer services and sales. Angelina will spend the next several months hiring the following staff:
  • Several associates who will provide customer service, sell products, and help insert hair extensions for customers.
  • An Accountant who will manage all client invoicing, billing, and payables.
  • A Marketing Assistant who will run all the marketing and promotions campaigns.

Milestones:

Hairapy Extensions will have the following milestones completed in the next six months.

  • 9/1/202X – Finalize lease agreement
  • 9/15/202X – Begin build out and design
  • 10/1/202X – Begin hiring essential staff
  • 10/15/202X – Finish build out and design; final walk-through of store
  • 11/1/202X – Begin marketing campaign
  • 11/15/202X – Grand opening of Hairapy Extensions

Though Angelina has never run a business herself, she has been in the industry long enough to have an in-depth knowledge of the operations and marketing sides of the business. She will also hire other professionals who can help with the other aspects of the business she is unfamiliar with.

Financial Plan

Key revenue & costs.

The revenue drivers for Hairapy Extensions will be the sales of our hair extensions and other hair products.

The major costs for the company will include the costs of inventory, payroll, and overhead. In the initial years, the company’s marketing spending will be high as it establishes itself in the market.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

  • Average number of daily customers: 50
  • Average product price: $250
  • Annual Lease: $50,000

Financial Projections

Income statement, balance sheet, cash flow statement, hair extensions business plan faqs, what is a hair extensions business plan.

A hair extensions business plan is a plan to start and/or grow your hair extensions business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Hair Extensions business plan using our Hair Extensions Business Plan Template here .

What are the Main Types of Hair Extensions Businesses? 

There are a number of different kinds of hair extensions businesses , some examples include: Hair extension services, Hair extension stores, and Online hair extension sales.

How Do You Get Funding for Your Hair Extensions Business Plan?

Hair Extensions businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Hair Extensions Business?

Starting a hair extensions business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Hair Extensions Business Plan - The first step in starting a business is to create a detailed hair extensions business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your hair extensions business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your hair extensions business is in compliance with local laws.

3. Register Your Hair Extensions Business - Once you have chosen a legal structure, the next step is to register your hair extensions business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your hair extensions business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Hair Extensions Equipment & Supplies - In order to start your hair extensions business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your hair extensions business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

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  1. Free Hair and Beauty Salon Sample Business Plan PDF

    The 7 elements of an effective hair and beauty salon business plan. 1. Executive Summary. The executive summary provides a high-level overview of your business plan. It should outline the objectives of your hair and beauty salon, such as to offer high-quality services, to expand the client base, or to break into a new market.

  2. How to Write the Perfect Salon Business Plan in 6 Steps

    1. Create an Executive Summary. The executive summary is the first section of your business and management plan and provides a brief overview of your salon business. This section should include your mission statement, business objectives, target market, products and beauty services, and financial projections.

  3. Hair salon business plan template + PDF

    Additionally, for ease of use and customization, a Hair Salon Business Plan PDF is available for download. This article serves as an invaluable tool for entrepreneurs who are keen on developing a robust and practical strategy for launching or growing their hair salon, providing a clear roadmap and comprehensive insights into the industry.

  4. How to Start a Profitable Hair Business [11 Steps]

    Create a solid business plan to present to potential lenders or investors, showcasing your market analysis, projected financials, and growth strategy. 7. Set pricing for hair services. Setting the right pricing for your hair services is crucial to the success of your business.

  5. Hair Salon Business Plan Template & Guide

    Hair Salon Business Plan. Over the past 20+ years, we have helped over 5,000 entrepreneurs and salon owners create business plans to start and grow their hair salons. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a hair salon business plan template ...

  6. How to create a hair salon business plan

    6 steps to creating a hair salon business plan. Let's dissect the key components of a hair salon business plan: 01. Executive summary. The executive summary is a concise overview of your entire hair salon business plan. It provides a snapshot of your business concept, strategies, financial projections and objectives.

  7. Starting a Hair Care Business: A Beginner's Handbook

    Fantastic! Starting a hair care business can be an exciting journey filled with innovation, creativity, and endless opportunities to make people look and feel their best. Here are some essential steps to kickstart your hair care business: research your market, craft a solid business plan, create a captivating brand identity, and curate a ...

  8. How To Write the Perfect Salon Business Plan in 7 Simple Steps

    Here we've broken down the entire process into 7 easy-to-follow, foolproof steps, along with their templates, to help you create a successful salon business plan. Write a mission and vision statement. Create an executive summary. Analyze and identify your target market. Perform a competitor analysis.

  9. Hair Salon Business Plan: Guide & Template (2024)

    Industry Overview. The spa and salon market stood at an impressive value of $138.9 billion in 2020, and as people continue to return to salons after the pandemic, the market's value is expected to rise at a higher rate. The rise in personal care and beauty spending is one of the major reasons for the growth of the hair salon industry.

  10. How to Write a Hair Salon Business Plan (2024)

    Sales forecast - total sales expected over the next several years. Expenses budget - all the costs you need to operate. Profit and loss (P&L) statement - a 12-month summary of revenue versus expenses. Cash flow statement - how cash moves in and out of your business, including monthly payments.

  11. Hair salon business plan: a complete guide

    Step 1: Define your hair salon services. The first step in building a business plan for your salon starts with defining your services. You may already have an idea of the hairstyles and services you want to offer, but it's essential to consider some critical factors before finalizing your offerings.

  12. How To Create a Successful Salon Business Plan

    8. Get your finances in check. If you've already set your prices, take a bow — the hardest part of your salon's financing strategy is already done. However, you'll need to take your money a step further to get a rough idea of how your business will progress on a monthly and annual basis.

  13. How to Start a Profitable Hair Business [11 Steps]

    Create a solid business plan to present to potential lenders or investors, showcasing your market analysis, projected financials, and growth strategy. 7. Set pricing for hair services. Setting the right pricing for your hair services is crucial to the success of your business.

  14. The #1 Hair Business Plan Template & Guidebook

    How to Write a Hair Business Plan in 7 Steps: 1. Describe the Purpose of Your Hair Business. The first step to writing your business plan is to describe the purpose of your hair business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind ...

  15. Hair Extensions Business Plan Template (2024)

    Develop A Hair Extensions Business Plan - The first step in starting a business is to create a detailed hair extensions business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

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