Skilled barbers with industry expertise.
Trendy, fashion-forward image appealing to young professionals.
Urban Edge Barbers operates under a flat organisational structure aimed at promoting collaboration and enhancing efficiency. At the apex of the structure is the owner and lead barber, Jordan Smith. He is ably supported by Alex Taylor, a seasoned customer relations specialist who handles all reception duties, including appointment scheduling. Assisting them in crafting brand visibility and growth is Riley Morgan, the team's marketing strategist.
Despite its seemingly compact size, the team encapsulates a wealth of experience and expertise in their respective roles. Jordan, with over a decade of experience in the art of barbering, remains on top of modern men's hairstyles. Alex is a customer service maven with an unparalleled mastery of organizational logistics, while Riley, a degree holder in marketing, brings on board cutting-edge digital marketing techniques.
In anticipation of business growth and expansion, more staff will be hired to meet the demand. Current projections suggest the need for two additional barbers in the next two years and a possible recruitment of a human resource manager should the business scale up faster.
Urban Edge Barbers believe in fostering a culture of mutual respect and swift resolution of staff disputes, hence the need for transparent human resource hiring policies and practices. To maintain a harmonious working environment, the business will endeavor to ensure equality in recruitment. Detailing staff obligations, leave allocations, working hours, and remuneration will be clearly stipulated in the employee handbook.
The business will rely on the expertise of external consultants, mainly for legal and financial advice. A local accounting firm, Branson & Associates, will provide financial consultation, ensuring that the barber shop complies with local and federal tax law and maintains its financial health.
In summation, Urban Edge Barbers exemplifies a potent mixture of expertise, innovative management structure, and sound HR practices that will undoubtedly guarantee its growth and success. The deeply ingrained culture of equality and respect, coupled with its penchant for nurturing talent, speaks volumes about its vision and deliberate focus on becoming a leader in the industry.
Urban Edge Barbers specialises in a range of grooming services including, but not limited to, haircuts, scalp treatments, beard grooming, and a selection of other premium personal grooming services. All services are performed by trained barbers with comprehensive knowledge of hair types, scalp health, and latest trends in men's hairstyles.
The business also offers sales of a curated range of high-quality hair care and beard grooming products. These products have been carefully selected for their superior ingredients, exceptional performance, and ethical manufacturing practices.
One of the unique selling propositions of Urban Edge Barbers is our location-based tailoring of services. Understanding that trends and styles fluctuate based on demographics and location, our team stays ahead of the curve by constantly researching and innovating based on the local fashion landscape.
Currently, the business is in the start-up stage and our team has been diligently working on procuring high-quality equipment, sourcing suppliers for hair and beard care products, recruiting experienced barbers, and finalising the décor to echo the trendy and edgy company ethos.
The Urban Edge Barbers’ logo has been registered as a trademark at the United States Patent and Trademark Office (USPTO). The company is also in the process of patenting a unique scalp treatment mix formulated by our lead barber, Jordan Smith. The exact recipe and process are confidential for business reasons.
The production process for services begins with consultation where our barbers understand the client's requirements and make recommendations based on their hair type, face shape, and personal style. Following the service, customers are guided on how to maintain their hair or beard style at home. In terms of products, we have direct tie-ups with national distributors, who source the products from manufacturers, which are then stocked at our shop.
We have multiple suppliers for our product range, ensuring that a shortage from one supplier does not affect our inventory. For instance, our hair care range is supplied by Brilliant Hair Co., a renowned brand in the industry, while beard care products are sourced from two suppliers, Manly Mane and Beard Bros Supply, both well-reputed brands in their own right.
Overall, Urban Edge Barbers stands at the intersection of style, sophistication, and quality, ready to revolutionise the grooming experience of the urban gentleman. Our focus on localized trends and innovation, backed by our intellectual property, outlining the production process, and strategic supplier relations, are the foundational pillars on which this idea is being brought to life.
The central principle guiding our marketing strategy at Urban Edge Barbers is to cater to the trend-conscious and style-forward needs of our target demographic, young professionals and fashion-forward individuals aged between 18-25 years.
In keeping with this goal, our primary marketing channels will be social media platforms like Instagram and Facebook. By showcasing our diverse range of services, cutting-edge hairstyles, and professional staff, we aim to attract our target customers. Social media platforms also provide opportunities for engaging with customers in a more relaxed and informal way.
Our marketing plan includes regular engagements like themed posts, active interaction with followers, sharing customer testimonials, posting before and after transformation images, and sharing grooming tips and tutorials. We will also focus on local search engine optimization and online reputation management to ensure that we are easy to find and customers find positive reviews about us when they search for us online.
In addition, our sales strategy combines the efforts of our in-shop sales team that includes all our barbers and our receptionist. The team is trained to upsell services and products at the point of sale. This involves suggesting additional services during consultation and product recommendations during or post-service.
Another component of our sales plan is to offer online booking options to our clients. By partnering with an automated booking software platform, we aim to provide our clients with around-the-clock, easy-to-use, and flexible booking options. This service allows customers to choose their preferred barber, service, and appointment time, which also aids in smooth shop operations and resource allocation.
Urban Edge Barbers believes in value-based pricing. Services are priced based on the complexity, time taken, and the levels of expertise required. We aim to maintain competitive pricing in the area to ensure affordability without compromising on service quality.
Distribution channels cover both our physical location for first-hand services and our online platform for service bookings and product sales. We also anticipate creating relationships with local gyms, corporations, and local universities to provide mobile services to these groups at special events.
For promotion and advertising, we plan to invest in local print media, online pay-per-click (PPC) ads, and industry-specific magazines. The launch of the shop will be promoted heavily with an inauguration event and opening month discounts. A referral program will also be implemented to incentivize existing patrons to bring companions.
Lastly, our customer service policy is focused on 100% customer satisfaction. A feedback system will be implemented to make sure every customer is allowed to voice their opinion. We will offer support through multiple channels such as phone, email, and social media, providing timely and helpful responses to questions or concerns.
Our marketing and sales strategy at Urban Edge Barbers is rooted in understanding our customers, offering high-quality services, and maintaining robust customer relations. It harnesses the power of digital tools while remaining grounded in the principles of genuine hospitality and superb customer service.
Operational Workflow:
At Urban Edge Barbers, daily operations will be organised by our receptionist and customer relations manager, Alex Taylor, who will maintain an updated scheduling system to ensure appropriate time allocation for each client. Our opening hours will run from 9 AM to 7 PM six days a week with only Sundays being off.
Production/Service Delivery Processes:
Upon arrival, each client will be greeted by our receptionist and checked into our system. After a short waiting period in our comfortable waiting area, our clients will be attended by our skilled barbers who will take time to listen to their preferences before giving them the desired haircut or grooming service.
Quality Control Measures:
The quality of our service delivery will be placed under stringent checks to maintain our high standards. Our barbers will receive regular training under the guidance of our lead barber, Jordan Smith, to ensure they are updated with the latest trends and techniques in men's grooming.
Inventory Management:
We will conduct stock checks at regular intervals to ensure we neither overstock nor understock our inventory of grooming products and supplies. Our inventory will be managed digitally to ensure easy tracking and swift, effective re-stocking from our suppliers.
Supply Chain Management:
Our supply chain will be streamlined and efficient, derived from cemented relationships with trusted suppliers for grooming products and equipment. We maintain this by negotiating favourable terms that allow for prompt deliveries and quality supplies.
Facilities and Equipment Needs:
Urban Edge Barbers will be housed in a comfortable, spacious and modern facility equipped with all the necessary grooming equipment. Our facility will have three barber stations paired with comfortable barber chairs, washbasins, and storage cabinets. There will also be a reception area, waiting area and stock/inventory room. Mirrors, hair trimmers and clippers, scissors, combs, towels, cleaning supplies and protective gear amongst others are part of our initial equipment requirement.
We will use both direct purchase and leasing options for our equipment needs. While equipment like barber chairs and stations will be directly purchased, we might explore leasing options for certain expensive equipment such as high-end hair care and treatment machinery if required in future. All our equipment will be periodically tested to ensure health and safety standards are met.
In conclusion, Urban Edge Barbers ensures a smooth operational plan that guarantees a consistent service experience for our clients, regulated inventory and supply chain management and meeting all facility and equipment needs efficiently and economically.
As a start-up looking to disrupt the barber services market, Urban Edge Barbers has worked diligently to prepare a comprehensive financial projection to offer insight into our financial future.
In conclusion, our financial projections suggest an optimistic portrait for Urban Edge Barbers. With sound fiscal management, disciplined work ethics, and an unwavering focus on quality and customer service, the company is expected to make substantial financial gains over the coming years.
Finally, Urban Edge Barbers has established detailed contingency plans in case of any unforeseen circumstances. These include procedures to handle unexpected staff shortages, emergency facility issues, and financial strains. By palpably addressing each risk area and by having a robust contingency plan in place, Urban Edge Barbers is confident about parrying the extensive challenges of the entrepreneurial landscape.
Here is a free business plan sample for a barbershop salon.
Have you been envisioning the perfect barbershop where style and tradition blend seamlessly, but you're not sure how to turn that vision into reality?
Look no further, as we're about to present you with a comprehensive business plan tailored for aspiring barbershop owners.
Creating a detailed business plan is crucial for any entrepreneur. It serves as a roadmap, guiding you through the establishment and growth of your business, ensuring that you stay focused on your objectives and strategies.
To get started on the path to success, take advantage of our barbershop business plan template. Our team is also on hand to provide a free review and fine-tuning of your plan, setting the foundation for your barbershop's future.
A good business plan for a barbershop must cater to the unique aspects of the grooming and personal care industry.
Initially, it's important to provide a comprehensive overview of the market. This includes current statistics and identifying emerging trends within the grooming sector, as illustrated in our barbershop business plan template .
Your business plan should articulate your vision clearly. Define your target market (such as local residents, professionals, students), and establish the distinctive appeal of your barbershop (traditional, modern, specializing in certain styles or treatments).
Market analysis is the next critical component. This requires a thorough examination of local competitors, industry trends, and consumer preferences specific to grooming services.
For a barbershop, particular emphasis should be placed on the services you intend to provide. Outline your service offerings - haircuts, shaves, beard trims, grooming products - and discuss how they cater to the demands and tastes of your intended clientele.
The operational plan is equally vital. It should detail the location of your barbershop, the layout of the cutting and waiting areas, supplier relationships for grooming products, and the service delivery process.
In the barbershop business, it is crucial to highlight the expertise of your barbers, the quality of your equipment, and adherence to hygiene and safety standards.
Then, delve into your marketing and sales strategy. How do you plan to attract and keep clients? Explore promotional tactics, customer loyalty programs, and potential ancillary services (like selling grooming products).
Today, a digital strategy is indispensable. Consider how a website or social media engagement can enhance your barbershop's visibility and customer interaction.
The financial framework is another cornerstone. This section should encompass the initial investment, revenue projections, ongoing expenses, and the point at which the business will break even.
In a barbershop, it's essential to have a precise understanding of service costs and potential profit margins. For assistance with this, refer to our financial forecast for a barbershop .
Compared to other business plans, a barbershop's plan must pay closer attention to factors such as the experience and retention of skilled barbers, specific health and sanitation regulations, and the potential for repeat business due to the personal nature of the services.
A well-crafted business plan is a tool for the owner to refine their strategy and attract investors or loans.
Investors and lenders are looking for a solid market analysis, realistic financial projections, and a comprehensive understanding of the day-to-day operations of a barbershop.
By presenting a thorough and substantiated plan, you showcase your dedication and preparedness for the success of your venture.
To achieve these goals while saving time, you can fill out our barbershop business plan template .
Here, we will provide a concise and illustrative example of a business plan for a specific project.
This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.
To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.
All these elements have been thoroughly included by our experts in the business plan template they have designed for a barbershop .
Here, we will follow the same structure as in our business plan template.
Market data and figures.
The barbershop industry is a stable and essential service sector with a consistent customer base.
Recent estimates value the global barbershop market at tens of billions of dollars, with a steady clientele that ensures its ongoing relevance. In the United States alone, there are over 100,000 barbershops, contributing significantly to the economy and providing employment opportunities.
These numbers underscore the barbershop's enduring place in American society and its substantial economic contribution.
The grooming industry is witnessing a resurgence of traditional services blended with modern trends. Men's grooming has expanded beyond the basic haircut, with an increased focus on beard styling, facial treatments, and even manicures for a well-rounded grooming experience.
There is a growing emphasis on the use of organic and natural products, as customers become more health-conscious and concerned about the ingredients in grooming products.
Barbershops are also becoming social hubs, where customers can relax and socialize, reflecting a trend towards creating a more engaging and community-oriented experience.
Additionally, the rise of mobile and at-home barber services caters to the busy lifestyles of modern consumers, offering convenience and personalized service.
With the increasing importance of personal branding and online presence, customers are seeking more customized and unique hairstyles to stand out, driving barbershops to offer bespoke services.
The success of a barbershop hinges on several critical aspects.
Foremost is the skill and expertise of the barbers. A barbershop that employs experienced and well-trained barbers who can deliver a wide range of styles and services is more likely to develop a dedicated clientele.
Creating a welcoming and comfortable atmosphere is also vital, as it enhances the overall customer experience and encourages repeat visits.
The location of the barbershop plays a significant role in its success, with high-traffic areas often leading to higher visibility and walk-in traffic.
Exceptional customer service is paramount, as personalized attention can foster loyalty and positive word-of-mouth referrals.
Lastly, effective business management, including cost control, marketing, and the ability to adapt to changing grooming trends, is essential for the sustained success and growth of a barbershop.
Project presentation.
Our barbershop project is designed to cater to the grooming needs of the modern man, offering a blend of traditional and contemporary haircuts and styling services. Situated in a bustling urban area or near business districts, this barbershop will provide a range of services from classic cuts and beard trims to the latest trends in men's hair fashion, all delivered with exceptional skill and attention to detail.
The emphasis will be on creating a welcoming and comfortable atmosphere where clients can relax and enjoy a premium grooming experience.
This barbershop aims to establish itself as a go-to destination for men of all ages seeking a refined and personalized approach to their grooming routine, thereby enhancing their confidence and personal style.
The value proposition of our barbershop project is centered on delivering a superior grooming experience tailored to the individual style and preferences of each client.
Our dedication to craftsmanship, ambiance, and personalized service offers a unique and memorable visit, while contributing to the self-assurance and satisfaction of our customers.
We are committed to fostering a space where men can unwind, refresh, and feel their best, and aim to set a new standard in men's grooming by combining tradition with innovation.
Our barbershop aspires to be a cornerstone in the community, providing a space not just for haircuts, but for building relationships and promoting the timeless art of men's grooming.
The project owner is a seasoned barber with a passion for the craft of men's grooming.
With years of experience in the industry and a keen eye for style, he is determined to launch a barbershop that distinguishes itself through its dedication to quality, comfort, and style.
With a vision of creating a community hub for grooming and camaraderie, he is committed to offering exceptional service that exceeds the expectations of the modern gentleman.
His commitment to the trade and his enthusiasm for innovation make him the driving force behind this project, aiming to elevate the barbershop experience for clients who value personal care and style.
Market segments.
The market segments for our barbershop are diverse and cater to a wide range of clients.
Firstly, we have individuals who value personal grooming and regular hair maintenance, making them frequent visitors to our establishment.
Next, there are clients who are looking for a luxurious grooming experience, including premium services such as hot towel shaves, beard trims, and scalp massages.
Another segment includes those who are interested in the latest hair trends and styles, relying on professional barbers to provide them with a modern and stylish look.
Lastly, we also cater to a clientele that values a community atmosphere, where the barbershop serves as a social hub for local gatherings and conversations.
A SWOT analysis of our barbershop project highlights several key factors.
Strengths include a skilled team of barbers with a passion for grooming, a welcoming and comfortable atmosphere, and a strong reputation for quality service.
Weaknesses may involve the challenge of building a client base in a competitive market and the initial costs associated with establishing a premium service offering.
Opportunities can be found in the growing trend of men investing more in personal grooming and the potential to expand services to include additional grooming products and treatments.
Threats might include the emergence of new competitors in the area, economic downturns affecting discretionary spending, and shifts in grooming trends.
Competitor analysis in the barbershop industry indicates a competitive landscape.
Direct competitors include other local barbershops and grooming salons, as well as franchise chains that offer similar services.
These competitors vie for clients who are loyal to their grooming routine and who appreciate a high level of service.
Potential competitive advantages for our barbershop include a unique customer experience, superior technical skills, a strong brand identity, and the ability to quickly adapt to changing fashion and grooming trends.
Understanding the strengths and weaknesses of our competitors is crucial for carving out a niche in the market and ensuring customer loyalty.
Our barbershop's competitive edge lies in the exceptional skill set of our barbers and the premium customer service we provide.
We offer a comprehensive range of services, from classic cuts to modern styling, all performed with meticulous attention to detail to ensure every client leaves looking their best.
Our dedication to creating a welcoming and inclusive environment helps us foster strong relationships with our clients, solidifying their trust in our brand.
We also emphasize the importance of a clean and hygienic workspace, using top-of-the-line tools and products, which reassures our clients of the high standards we uphold in every aspect of our service.
You can also read our articles about: - how to open a barbershop salon: a complete guide - the customer segments of a barbershop salon - the competition study for a barbershop salon
Development plan.
Our three-year development plan for the modern barbershop is designed to establish a strong brand presence in the grooming industry.
In the first year, we will concentrate on building a loyal client base by providing exceptional service and creating a welcoming atmosphere.
The second year will focus on expanding our services and possibly opening additional locations in high-traffic areas to increase our market reach.
By the third year, we aim to innovate our service offerings, incorporating advanced grooming techniques and exploring partnerships with grooming product companies to enhance our service quality.
Throughout this period, we will prioritize customer satisfaction, employee training, and staying ahead of industry trends to ensure we remain a top choice for grooming services.
The Business Model Canvas for our barbershop targets individuals seeking high-quality grooming services and a superior customer experience.
Our value proposition is centered around providing expert haircuts, shaves, and grooming services in a comfortable and masculine environment.
We offer our services primarily at our physical location, utilizing key resources such as skilled barbers, quality grooming products, and a well-designed shop atmosphere.
Key activities include delivering consistent grooming services, managing customer relationships, and maintaining a clean and inviting shop environment.
Our revenue streams are generated from the provision of grooming services, sale of grooming products, and potential membership or loyalty programs.
Our costs are mainly associated with staff salaries, shop maintenance, and marketing efforts.
Find a complete and editable real Business Model Canvas in our business plan template .
Our marketing strategy is centered on building a strong brand identity and community engagement.
We plan to attract and retain customers by offering a superior grooming experience and promoting our services through local events, social media, and word-of-mouth referrals.
We will also create partnerships with local businesses and sponsor community events to increase visibility.
Additionally, we will leverage online booking systems and customer reviews to build trust and convenience for our clients.
Our aim is to become a recognized and respected brand within the community, synonymous with quality and reliability in grooming services.
The risk policy for our barbershop is designed to mitigate risks associated with service quality, customer satisfaction, and operational efficiency.
We will ensure all barbers are fully trained and adhere to the highest standards of hygiene and professionalism.
Regular staff training and equipment maintenance will be conducted to prevent service disruptions.
We will also manage financial risks by maintaining a conservative budget and monitoring cash flow closely.
Insurance coverage will be secured to protect against potential liabilities related to our services and operations.
Our focus is on delivering a safe and satisfying experience for every customer that walks through our doors.
We are confident in the viability of our barbershop due to the increasing demand for specialized grooming services.
With our dedication to quality, customer experience, and staying current with grooming trends, we believe we can carve out a significant niche in the market.
We are excited to offer a space where clients can relax, refresh, and enjoy the camaraderie of a traditional barbershop with a modern twist.
We are adaptable and ready to evolve with the industry to ensure the long-term success of our business.
We look forward to the opportunity to serve our community and grow a loyal customer base with our barbershop.
You can also read our articles about: - the Business Model Canvas of a barbershop salon - the marketing strategy for a barbershop salon
Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.
All these elements are available in our business plan template for a barbershop and our financial plan for a barbershop .
Initial expenses for our barbershop include the cost of leasing a suitable location, outfitting the shop with high-quality barber chairs and equipment, obtaining the necessary licenses and permits, purchasing initial inventory such as hair care products and grooming tools, and investing in staff training to ensure top-notch service. Additionally, expenses will cover the creation of a strong brand identity and the execution of marketing strategies to attract our target clientele.
Our revenue assumptions are based on a thorough market analysis of the local demand for professional barbering services, taking into account factors such as population demographics, competition, and current grooming trends.
We expect a steady increase in clientele, beginning with a conservative estimate and expanding as our barbershop gains recognition for its exceptional services.
The projected income statement outlines expected revenues from services provided, product sales, and other offerings, while detailing costs of goods sold (such as hair care products), labor expenses, and operating costs (rent, utilities, marketing, salaries, etc.).
This results in a forecasted net profit that is essential for assessing the long-term viability of our barbershop.
The projected balance sheet will display assets unique to our barbershop, like salon equipment and product inventory, against liabilities such as loans and accounts payable.
It will provide a snapshot of the financial standing of our barbershop at the conclusion of each fiscal period.
Our projected cash flow statement will itemize all cash inflows from services rendered and product sales, against cash outflows for expenses and purchases. This financial tool is crucial for predicting our cash requirements and ensuring smooth financial operations.
The projected financing plan will detail the sources of funding we intend to tap into to cover our initial setup costs.
The working capital requirement for our barbershop will be diligently tracked to maintain sufficient liquidity for day-to-day operations, such as restocking grooming supplies, managing inventory, and fulfilling payroll obligations.
The break-even analysis for our barbershop will calculate the volume of services we need to provide to offset all our costs, including the initial investment, and begin generating profit.
It will signal the point at which our business becomes financially sustainable.
Key performance indicators we will monitor include the average revenue per customer, the frequency of repeat customers, the profitability of our service offerings, and the overall customer satisfaction level.
These metrics will be instrumental in gauging the financial health and success of our barbershop.
If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a barbershop salon .
Get this complete sample business plan as a free text document.
Start your own men's salon business plan
Jonpaul’s is an upscale old-world gentleman’s barber shop that offers today’s progressive gentlemen a haven where he can sit back, relax and experience the “World Class” art of grooming and services in a gentleman’s club atmosphere, which is masculine and therapeutic. Jonpaul’s is aimed at an exclusive market and a discerning customer base, and will add tremendous value to our community while offering a combination of “World Class Services” not currently being offered by any competitor in the greater Gigaburb area. We intend to be profitable by increasing our client base through becoming a highly sought after destination.
Our goal, beyond becoming a profitable business, is becoming a trusted destination whereby the clients in our community can come to refresh their minds and bodies, replenish their energies, and network with their colleagues and friends!
Jonpaul’s will provide a comforting, yet stimulating, old world gentleman’s club atmosphere in which customers will be able to relax both their body and mind, through a wide range of services. Jonpaul’s will establish itself as a world class service provider to which clients can always come to escape the stresses of life, and rejuvenate their energies, enjoy the camaraderie of their colleagues and friends.
The keys to success in our business are:
The objectives for Jonpaul’s are outlined below:
Jonpaul’s is a full-service gentleman’s barber shop dedicated to consistently providing world class men’s grooming services to our clients, high quality products while furnishing an enjoyable relaxing atmosphere at an acceptable price/value relationship.
Our Motto: “World Class Service Begins Here”
The timing is right for this venture. Patiently searching for the last few years for a similar highly recognized existing business in a prime location, was unsuccessful. We therefore decided to build one from the ground up.
After spending several months searching for a high-end exclusive gentleman’s barber shop to purchase, the owners decided to start an exclusive barber shop – men’s grooming services from the ground up. The start-up capital will be used for the design, leasehold improvements, and equipment for the shop. The start-up cash has been marked for the estimated amount needed to cover operational expenses for the first two months.
Start-up | |
Requirements | |
Start-up Expenses | |
Legal | $2,500 |
Stationery etc. | $1,000 |
Brochures, Logo, and Design | $3,000 |
Consultants-Interior Design | $2,000 |
Insurance | $3,000 |
Rent | $14,000 |
Leasehold Improvement construction | $115,000 |
Expensed Equipment – $38000 in S-Assets | $17,000 |
Other | $5,000 |
Total Start-up Expenses | $162,500 |
Start-up Assets | |
Cash Required | $40,000 |
Start-up Inventory | $10,000 |
Other Current Assets | $38,000 |
Long-term Assets | $0 |
Total Assets | $88,000 |
Total Requirements | $250,500 |
Start-up Funding | |
Start-up Expenses to Fund | $162,500 |
Start-up Assets to Fund | $88,000 |
Total Funding Required | $250,500 |
Assets | |
Non-cash Assets from Start-up | $48,000 |
Cash Requirements from Start-up | $40,000 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $40,000 |
Total Assets | $88,000 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $225,000 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $25,500 |
Total Liabilities | $250,500 |
Capital | |
Planned Investment | |
Investor 1 | $0 |
Investor 2 | $0 |
Other | $0 |
Additional Investment Requirement | $0 |
Total Planned Investment | $0 |
Loss at Start-up (Start-up Expenses) | ($162,500) |
Total Capital | ($162,500) |
Total Capital and Liabilities | $88,000 |
Total Funding | $250,500 |
Jonpaul’s is located in The Mall, a 160,000 foot shopping and entertainment center in Gigaburb. The suite is 1,950 sq. ft at $24.50/sq. ft. with a 3-year lease. This site is a very high profile area with easy access and ample parking.
The Mall is anchored by Regal Cinema, the largest theater chain in the Gigaburb market with a 16-screen, state of the art complex. In addition to specialty retail and service shops within the center, there is a food pavilion anchored by Starbucks, Macaroni Grill, Garrison’s, and Rio Bravo. Other tenants include Ben & Jerry’s, Las Vegas Golf, specialty furniture, boutiques, antiques, and specialty children shops.
The Mall is located on the corner of a highly traveled State Highway and a Metro Road in the high growth, affluent area of Gigaburb. The Mall’s primary trade area will serve the burgeoning country club communities and exclusive neighborhoods located within a fifteen-minute drive from the site. According to Equifax National Decision Systems, the primary trade area in 2000 had a population of 317,931 that is projected to reach 358,716 by 2005.
Jonpaul’s is a privately held S corporation co-owned by Cathy Leskie and her husband Dr. Jonpaul Leskie. Cathy Leskie has 10 years experience in the hair and spa industry. She studied in the U.S. and Europe and continues to stay on top of the latest styles, trends and products. Cathy has worked as a stylist, then as a manager – managing 16 stylist in a prestigious upscale salon.
Dr. Jonpaul Leskie – is President/CEO of Jp Leskie & Associates, a Technology Consulting Firm. Dr. Leskie is a pioneer and innovator with over 30 years experience in the computer, e-business and telecommunications industry. Dr. Leskie has a proven track record of success in launching new business and directing operations for Fortune 500 companies worldwide.
To achieve our objectives, Jonpaul’s is seeking loan financing. This loan will be paid from the cash flow from the business, and will be secured by the assets of the company, and backed by the character, experience and personal guarantees of the owners.
Jonpaul’s is considered an upscale full-service barber shop – services exclusively for men. We offer our clients a gentleman’s club atmosphere, with a complimenting wide range of services and products that include:
Explanations and/or consultations will be provided on all services and products if needed.
Shampoo, Cut, Style, Blow-dry | $ 38 |
Hair and Scalp Treatments | $ 20 |
Colour Blending or Highlights | $ 40 and Up |
Moustache and Beard Trim | $ 7 |
Moustache Trim | $ 5 |
Stately Shave (Hot towels, Balm) | $ 30 (30 minutes) |
Hair Style and Stately Shave | $ 60 |
Eyebrow Shaping | $ 12 |
Natural Nail Grooming | $ 15 |
Royal Pedicure | $ 38 |
Essential Facial | $ 65 |
Deep Tissue Massage | $ 75 (1 hour) |
Laser Hair Removal | $ 85 and Up |
Shoe Shine | $ 5 and Up |
London | $ 20 and Up |
United States | $ 18 and Up |
Service brochure, logo/slogan with advertising to be included, and a planned website.
Jonpaul’s services sell themselves. World Class Service performed in an upscale environment will attract clientele. Our prices are very reasonable for the quality of services provided. We have an agreement with a U.S. based importer of our London products, which keeps our product price at its lowest price point.
Jonpaul’s will sell complimenting products of the highest quality, and latest scientific development.
Our gentleman’s shop computer system, incorporates the latest hardware and software to manage appointments, client database, point of sale, email capabilities, Web-enabled networking, inventory, bar code reading, historical data, employee records, transaction history, accounts receivable/payable and payroll. Back-up of the system is performed daily.
Clients will be emailed appointment confirmation messages two days prior to appointment. In addition they will also receive a personal phone call one day prior to appointment to confirm appointment. A thank you note will be emailed automatically after services have been performed.
Our gentleman’s shop will incorporate a wireless network within the facilities. It will serve as an internal network and provide a service for our clients that need to access the Internet while visiting our facilities.
Jonpaul’s will be considering branding its own product line in the future. In addition it may offer chiropractic services and acupuncture services on an as needed basis. Jonpaul’s will always remain involved with the best men’s hair styling and health techniques offered, and will implement them if deemed appropriate and feasible for Jonpaul’s clientele.
Jonpaul’s will focus on the professional male. An Internet study revealed that 85% of professional men had personal hair grooming services performed during the workday. The space at The Mall fits the demographics for our business. Applied Geographic Solutions estimates that 59,251 people live within a three-mile radius of our facility and 42,759 work there. They estimate 161,848 live within a five-mile radius and 109,867 work there. There are 15 business parks totaling 6,206 businesses located within a seven-mile radius.
Our target market will be barber shop services for the professional male. Based on our Internet survey, 80% of our services will be associated with hair, hair color, shaves, shoe shine; 15% will come from facial, massage, nail, and tanning services; and 5% will come from products. Thus, our target market will be male professionals and retirees, from the age of 25, with individual and household incomes greater than $75,000.
The following table and chart depict our potential customers with a conservative annual growth rate of 4%. The annual growth rate for the area has been 7.5% since 1990.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
$75K to $100K 1mi. Radius of Facility | 4% | 3,816 | 3,969 | 4,128 | 4,293 | 4,465 | 4.00% |
$75K to $100K 3 mi. Radius of Facility | 4% | 10,403 | 10,819 | 11,252 | 11,702 | 12,170 | 4.00% |
$75K to $100K 5 mi. Radius of Facility | 4% | 18,140 | 18,866 | 19,621 | 20,406 | 21,222 | 4.00% |
$100K to $150K 1mi. Radius of Facility | 4% | 9,352 | 9,726 | 10,115 | 10,520 | 10,941 | 4.00% |
$100K to $150K 3 mi. Radius of Facility | 4% | 10,224 | 10,633 | 11,058 | 11,500 | 11,960 | 4.00% |
$100K to $150K 5 mi.Radius of Facility | 4% | 20,540 | 21,362 | 22,216 | 23,105 | 24,029 | 4.00% |
$150K + 1 mi. Radius of Facility | 4% | 19,432 | 20,209 | 21,017 | 21,858 | 22,732 | 4.00% |
$150K + 3 mi. Radius of Facility | 4% | 10,045 | 10,447 | 10,865 | 11,300 | 11,752 | 4.00% |
$150K + 5 mi. Radius of Facility | 4% | 20,229 | 21,038 | 21,880 | 22,755 | 23,665 | 4.00% |
Total | 4.00% | 122,181 | 127,069 | 132,152 | 137,439 | 142,936 | 4.00% |
The members of these market segments have luxury money on hand, and lead professional lives filled with very busy schedules. All persons usually need hairstyling regardless of income level, and make the effort to find money available to style their “look.”
In spite of the massive growth in residential and corporate complexes and substantial employment within 7 miles of The Mall, a gap currently exists in the retail trade and entertainment area. The shopping center is strategically located between two major malls, each occupying more than 1.2 million square feet. Virtually no high-end restaurants or commercial support services existed in the Gigaburb vicinity until The Mall was developed. Our facility will be located in this center, which provides a huge competitive advantage.
A population of nearly 205,000 people, consisting of young, upper-class families with an average household income of $92,247, exists within a seven-mile radius of the center. The immediate area surrounding The Mall has impressive demographics as well, with an average household income of $119,423 within a three-mile radius. The average new house sale price in The Mall area in 1998 was $377,249, up from $227,000 in 1990. It is also important to note that many companies are locating their corporate headquarters in the Gigaburb vicinity, not just administrative offices. Another plus is that several office buildings, and hotels, are located within a short drive of our gentleman’s shop.
Our gentleman’s shop’s trade area’s best growth potential is in terms of daytime employment. The total daytime business population in a three-mile radius is 42,759 with the residential population at 59,251. The total daytime business population in a five-mile radius is 109,867 with the residential population at 161,848. The nearby business parks also have an ample supply of land for future office development. An even more predictable source of daytime employment growth is the planned expansion of existing companies.
The Mall is the only shopping and entertainment center site within an 8 mile radius. Jonpaul’s is the only gentleman’s shop exclusively for men at The Mall. The future look very promising for a thriving business with a continual presence of clients.
The traditional barbershop of years past have been traditionally been replaced by unisex salon’s and spa’s which focused mainly on women. Professional men are more health and style conscious, especially men who have achieved a modicum level of professional success. They are willing pay for products and services that are geared specifically toward men. They are looking for an environment that consistently offers quality service, products and camaraderie. They look for a gathering place where they can openly discuss politics, watch sports or stock market news on TV, read the newspaper, network, get a cup of gourmet coffee, buy an imported cigar, and get a shoe shine.
The surrounding area of The Mall and Country County has become a bastion for the successful, having consistently been the fastest growing areas in our state. This has created a community of wealth, mobility, and growth. State Highway is a major north/south highway that connects the northern suburbs to midtown Gigaburb. The section of State Highway near our site is two lanes in each direction and includes an interchange at Metro Road. In 1998, the State DOT recorded an ADT volume on State Highway of 46,082 vehicles per day up from the 1997 traffic count of 38,375. This number is expected to continue to increase substantially over the next few years.
We are part of the retail health and beauty industry which has four major types:
The main competitor is VanAstorBilts located across town. Strengths of VanAstorBilts are its wide array of spa services. The weaknesses of VanAstorBilts are the limited number of services dedicated specifically to male clients, i.e. hair grooming, shaves, shoe shines. VanAstorBilts services and products cater more toward the female professional. We feel the presence of Jonpaul’s is not a direct competitor to VanAstorBilts and visa versa.
Our market advantage is wide open, and will give us the opportunity to service a large population base of professional males that is not currently being well served.
Clients choose men’s grooming services based on proximity to their daily travels from home and work, reputation for high quality service, and good pricing. With our combined services and catering to the male professional, we don’t feel we have competition. Any competition will mainly be from unisex salons or combination unisex spa-salons.
Industry participants are those whose services include salon and spa offerings. Salon services concern hair styling, while spa services concern body relaxing and rejuvenating offerings such as massage, nail, and face works.
No one industry participant has focused specifically toward men only.
Our value proposition is that we will bring a unique mode of relaxation and fulfillment to the discerning gentleman. When people are relaxed, comfortable, and happy they have the ability to work harder, concentrate better, feel physically, emotionally, and mentally balanced, and give that happiness back into their homes, workplace, and community. Simply put, our value proposition is that we help our community become a better place to live and work.
Our competitive edge is a combination of our unique services, outstanding location, and our interaction with our clients. By providing our clients a gentleman’s club atmosphere and provide world class services, we build relationships of trust and satisfaction. Our clients will come to depend on our unique services and fulfilling environment.
Our marketing strategy is the key to our success:
Our promotional strategy will be two-fold: first phase promotion will advertising before, during, and six months following our opening; the second phase advertising will deal with long-term advertising.
Owner Cathy Leskie and Jonpaul Leskie will be responsible for marketing Jonpaul’s through the advertising channels. The general manager will be responsible for assisting with the implementation of alliance advertising partnerships. Our advertising budget is $10,000 for the first year. Advertising will begin two weeks prior to opening.
We will automatically position ourselves as the top, exclusive gentlemen’s grooming shop in the greater Gigaburb area. Considering that none of the other competitors will offer the range of men’s services that we will, nor that their staffs will be trained like ours, and that there are not any barbershops of our type in our target locations, we will be able to provide services to The Mall populace not currently being tapped.
Our pricing strategy will be similar to that of our competitors. We will not charge over, nor substantially under, standard prices for our services. We will be paying our employees a straight percentage of their total individual client sales plus a bonus–that’s more than our competitors. This will allow us to hire the best employees, and have a built-in motivational factor that will keep them empowered to enhance their opportunity.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Barber Shop Hair Only Revenue | $572,880 | $775,680 | $1,080,000 |
Misc. Service i.e. Shave, Shine, Color etc. | $156,518 | $187,821 | $225,385 |
Product | $69,726 | $83,671 | $100,040 |
Total Sales | $799,124 | $1,047,172 | $1,405,425 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Barber Shop Hair Only Revenue | $255,794 | $349,056 | $486,000 |
Misc. Service i.e. Shave, Shine, Color etc. | $70,429 | $84,519 | $101,423 |
Product | $34,868 | $41,835 | $50,020 |
Subtotal Direct Cost of Sales | $361,091 | $475,410 | $637,443 |
We will form alliances with our referral clients, local restaurants, offices, and businesses who will be strategically beneficial for generating new clients. We will also form alliances with local barber schools and local spas.
The following table lists important store milestones, with dates, implementation duty, and budgets for each. The milestone schedule emphasizes the timeliness for implementation per the sales and marketing targets listed in the detail in the previous topics.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business Plan | 1/1/2002 | 3/1/2002 | $0 | Jp Leskie | Owners |
Financial Lending | 2/1/2002 | 3/15/2001 | $0 | Jp Leskie | Owners |
Incorporation | 3/15/2002 | 4/1/2002 | $350 | Jp Leskie | Owners |
Lease Agreement/Settlement | 3/25/2002 | 4/5/2002 | $0 | Jp Leskie | Owners |
Leasehold Improvements | 4/5/2002 | 5/30/2002 | $105,000 | Cathy/Jp Leskie | Owners |
Equipment Order/Installed | 4/15/2002 | 5/30/2002 | $45,000 | Cathy Leskie | Owners |
Inventory | 5/1/2002 | 5/30/2002 | $10,000 | Cathy Leskie | Owners |
Logo Design | 3/15/2002 | 5/1/2002 | $1,000 | Cathy/Jp Leskie | Owners |
Business Cards | 5/1/2002 | 5/15/2002 | $500 | Cathy/Jp Leskie | Owners |
Brochures | 5/1/2002 | 5/15/2002 | $3,000 | Cathy/Jp Leskie | Owners |
Staff Hiring/Training | 5/1/2002 | 5/30/2002 | $1,000 | Cathy Leskie | Owners |
Jonpaul’s Grand Opening | 6/15/2002 | 1/15/2003 | $0 | Cathy/Jp Leskie | Owners |
Totals | $165,850 |
6.1 organizational structure.
Our initial team will consist of the owner and 10 employees. On the shop floor, there will be six barbers, one nail specialist, one shoe shine person and one receptionist. Initially there will be one full time combination aesthetician/massage therapist. As our client base grows we will add additional barbers, which then will be working two shifts per day per station. We expect to have 12 employees by the end of the first year and 14 employees in years two and three.
Cathy Leskie, co-owner, president: has 10 years experience in the hair and spa industry. She studied in the U.S. and Europe and continues to stay on top of the latest styles, trends and products. Cathy has worked as a stylist (six years) then as a manager (four years) – managing 16 stylist in a prestigious upscale salon.
Dr. Jonpaul Leskie, co-owner: will not be directly involved in daily operations, but will assist Cathy in general organizational/business planning and operations implementation. Currently Jonpaul is President/CEO of Jp Leskie & Associates, a Technology Consulting Firm. Dr. Leskie is a pioneer and innovator with over 30 years experience in the computer, e-business and telecommunications industry. Dr. Leskie has a proven track record of success in launching new businesses and directing operations for Fortune 500 companies worldwide.
We believe the experience of our team covers the needs to make the business plan for Jonpaul’s a very successful reality. We will review the current talent of the salon and re-engineer accordingly. We plan on outsourcing payroll and benefits.
The Personnel Plan below reflects our projected need at opening, and carries through the second year expansions.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Cathy Leskie | $72,000 | $72,000 | $72,000 |
100% Commissioned Employees | $150 | $165 | $175 |
Assistant | $15,360 | $16,500 | $17,500 |
Receptionist | $15,360 | $16,500 | $17,500 |
Total People | 12 | 14 | 14 |
Total Payroll | $102,870 | $105,165 | $107,175 |
The premier element in our financial plan is initiating, maintaining, and improving the factors that create, stabilize, and increase our cash flow:
The key underlying assumptions of our financial plan shown in the following general assumption table are:
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 8.50% | 8.50% | 8.50% |
Tax Rate | 30.00% | 30.00% | 30.00% |
Other | 0 | 0 | 0 |
Our most important Key Financial Indicator is when each barber averages seven clients per day and each specialist averages three clients per day.
For our Break-even Analysis we assume monthly estimated operational costs which include payroll, rent, utilities and other running costs (not including employee draw fund considerations). Payroll alone is only estimated at $9,800 per month, including taxes.
The analysis shows that we need to generate monthly revenues, as shown below, to break even. This total is less than estimated monthly gross. This estimation does not include revenue from any other sources and is based on a barber shop client average of $35 and miscellaneous services average of $50. Our yearly average per client is estimated at $48. Considering our minimal assumptions show a monthly total client average of 1,063, we therefore believe our break-even figures can be readily maintained.
Break-even Analysis | |
Monthly Revenue Break-even | $36,989 |
Assumptions: | |
Average Percent Variable Cost | 45% |
Estimated Monthly Fixed Cost | $20,275 |
There are two important assumptions with our Projected Profit and Loss statement:
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $799,124 | $1,047,172 | $1,405,425 |
Direct Cost of Sales | $361,091 | $475,410 | $637,443 |
Other Costs of Goods | $0 | $0 | $0 |
Total Cost of Sales | $361,091 | $475,410 | $637,443 |
Gross Margin | $438,033 | $571,762 | $767,982 |
Gross Margin % | 54.81% | 54.60% | 54.64% |
Expenses | |||
Payroll | $102,870 | $105,165 | $107,175 |
Sales and Marketing and Other Expenses | $20,000 | $15,000 | $20,000 |
Depreciation | $0 | $0 | $0 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $9,000 | $9,000 | $9,000 |
Insurance | $12,000 | $12,000 | $12,000 |
Rent | $84,000 | $84,000 | $84,000 |
Payroll Taxes | $15,431 | $15,775 | $16,076 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $243,301 | $240,940 | $248,251 |
Profit Before Interest and Taxes | $194,733 | $330,822 | $519,731 |
EBITDA | $194,733 | $330,822 | $519,731 |
Interest Expense | $18,464 | $17,215 | $15,773 |
Taxes Incurred | $52,880 | $94,082 | $151,187 |
Net Profit | $123,388 | $219,525 | $352,770 |
Net Profit/Sales | 15.44% | 20.96% | 25.10% |
Our business is a luxury, retail-oriented business with clients who will pay primarily with credit cards.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $799,124 | $1,047,172 | $1,405,425 |
Subtotal Cash from Operations | $799,124 | $1,047,172 | $1,405,425 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $10,000 | $0 | $0 |
Subtotal Cash Received | $809,124 | $1,047,172 | $1,405,425 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $102,870 | $105,165 | $107,175 |
Bill Payments | $548,021 | $728,194 | $944,200 |
Subtotal Spent on Operations | $650,891 | $833,359 | $1,051,375 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $14,351 | $16,242 | $17,678 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $665,242 | $849,601 | $1,069,053 |
Net Cash Flow | $143,882 | $197,571 | $336,372 |
Cash Balance | $183,882 | $381,453 | $717,825 |
Our Projected Balance Sheet shows we will not have any difficulty meeting our debt obligations as long as our revenue projections are met.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $183,882 | $381,453 | $717,825 |
Inventory | $38,936 | $51,262 | $68,734 |
Other Current Assets | $38,000 | $38,000 | $38,000 |
Total Current Assets | $260,817 | $470,715 | $824,559 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $260,817 | $470,715 | $824,559 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $53,781 | $60,395 | $79,147 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $25,500 | $25,500 | $25,500 |
Subtotal Current Liabilities | $79,281 | $85,895 | $104,647 |
Long-term Liabilities | $210,649 | $194,407 | $176,729 |
Total Liabilities | $289,930 | $280,302 | $281,376 |
Paid-in Capital | $10,000 | $10,000 | $10,000 |
Retained Earnings | ($162,500) | ($39,112) | $180,413 |
Earnings | $123,388 | $219,525 | $352,770 |
Total Capital | ($29,112) | $190,413 | $543,183 |
Total Liabilities and Capital | $260,817 | $470,715 | $824,559 |
Net Worth | ($29,112) | $190,413 | $543,183 |
The following table contains important business ratios for the barber shop industry, as determined by the Standard Industry Classification (SIC) code, 7241.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 31.04% | 34.21% | 10.40% |
Percent of Total Assets | ||||
Inventory | 14.93% | 10.89% | 8.34% | 4.60% |
Other Current Assets | 14.57% | 8.07% | 4.61% | 36.80% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 53.10% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 46.90% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 30.40% | 18.25% | 12.69% | 29.70% |
Long-term Liabilities | 80.76% | 41.30% | 21.43% | 24.70% |
Total Liabilities | 111.16% | 59.55% | 34.12% | 54.40% |
Net Worth | -11.16% | 40.45% | 65.88% | 45.60% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 54.81% | 54.60% | 54.64% | 0.00% |
Selling, General & Administrative Expenses | 39.37% | 33.64% | 29.54% | 69.20% |
Advertising Expenses | 1.00% | 0.00% | 0.00% | 2.50% |
Profit Before Interest and Taxes | 24.37% | 31.59% | 36.98% | 4.30% |
Main Ratios | ||||
Current | 3.29 | 5.48 | 7.88 | 2.08 |
Quick | 2.80 | 4.88 | 7.22 | 1.55 |
Total Debt to Total Assets | 111.16% | 59.55% | 34.12% | 54.40% |
Pre-tax Return on Net Worth | -605.48% | 164.70% | 92.78% | 6.90% |
Pre-tax Return on Assets | 67.58% | 66.62% | 61.12% | 15.20% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 15.44% | 20.96% | 25.10% | n.a |
Return on Equity | 0.00% | 115.29% | 64.94% | n.a |
Activity Ratios | ||||
Inventory Turnover | 10.91 | 10.54 | 10.62 | n.a |
Accounts Payable Turnover | 11.19 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 28 | 26 | n.a |
Total Asset Turnover | 3.06 | 2.22 | 1.70 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.00 | 1.47 | 0.52 | n.a |
Current Liab. to Liab. | 0.27 | 0.31 | 0.37 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $181,537 | $384,820 | $719,912 | n.a |
Interest Coverage | 10.55 | 19.22 | 32.95 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.33 | 0.45 | 0.59 | n.a |
Current Debt/Total Assets | 30% | 18% | 13% | n.a |
Acid Test | 2.80 | 4.88 | 7.22 | n.a |
Sales/Net Worth | 0.00 | 5.50 | 2.59 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Barber Shop Hair Only Revenue | 0% | $40,040 | $41,440 | $42,840 | $44,240 | $45,640 | $47,040 | $48,440 | $49,840 | $51,240 | $52,640 | $54,040 | $55,440 |
Misc. Service i.e. Shave, Shine, Color etc. | 0% | $10,417 | $10,833 | $11,267 | $11,717 | $12,186 | $12,673 | $13,180 | $13,708 | $14,256 | $14,826 | $15,419 | $16,036 |
Product | 0% | $5,200 | $5,304 | $5,410 | $5,518 | $5,628 | $5,728 | $5,856 | $5,973 | $6,092 | $6,214 | $6,338 | $6,465 |
Total Sales | $55,657 | $57,577 | $59,517 | $61,475 | $63,454 | $65,441 | $67,476 | $69,521 | $71,588 | $73,680 | $75,797 | $77,941 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Barber Shop Hair Only Revenue | $16,016 | $18,648 | $19,278 | $19,908 | $20,538 | $21,168 | $21,798 | $22,428 | $23,058 | $23,688 | $24,318 | $24,948 | |
Misc. Service i.e. Shave, Shine, Color etc. | $4,687 | $4,875 | $5,070 | $5,272 | $5,483 | $5,703 | $5,931 | $6,168 | $6,415 | $6,671 | $6,938 | $7,216 | |
Product | $2,600 | $2,652 | $2,705 | $2,759 | $2,814 | $2,870 | $2,928 | $2,986 | $3,046 | $3,107 | $3,169 | $3,232 | |
Subtotal Direct Cost of Sales | $23,303 | $26,175 | $27,053 | $27,939 | $28,835 | $29,741 | $30,657 | $31,582 | $32,519 | $33,466 | $34,425 | $35,396 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cathy Leskie | 0% | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 |
100% Commissioned Employees | 0% | $10 | $10 | $13 | $13 | $13 | $13 | $13 | $13 | $13 | $13 | $13 | $13 |
Assistant | 0% | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 |
Receptionist | 0% | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 |
Total People | 11 | 11 | 11 | 11 | 11 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | |
Total Payroll | $8,570 | $8,570 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $55,657 | $57,577 | $59,517 | $61,475 | $63,454 | $65,441 | $67,476 | $69,521 | $71,588 | $73,680 | $75,797 | $77,941 | |
Direct Cost of Sales | $23,303 | $26,175 | $27,053 | $27,939 | $28,835 | $29,741 | $30,657 | $31,582 | $32,519 | $33,466 | $34,425 | $35,396 | |
Other Costs of Goods | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $23,303 | $26,175 | $27,053 | $27,939 | $28,835 | $29,741 | $30,657 | $31,582 | $32,519 | $33,466 | $34,425 | $35,396 | |
Gross Margin | $32,354 | $31,402 | $32,464 | $33,536 | $34,619 | $35,700 | $36,819 | $37,939 | $39,069 | $40,214 | $41,372 | $42,545 | |
Gross Margin % | 58.13% | 54.54% | 54.55% | 54.55% | 54.56% | 54.55% | 54.57% | 54.57% | 54.57% | 54.58% | 54.58% | 54.59% | |
Expenses | |||||||||||||
Payroll | $8,570 | $8,570 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | |
Sales and Marketing and Other Expenses | $4,000 | $1,300 | $1,300 | $1,300 | $1,300 | $1,300 | $1,300 | $1,300 | $3,000 | $1,300 | $1,300 | $1,300 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Utilities | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | |
Insurance | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
Rent | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | |
Payroll Taxes | 15% | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 | $1,286 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $22,606 | $19,906 | $19,909 | $19,909 | $19,909 | $19,909 | $19,909 | $19,909 | $21,609 | $19,909 | $19,909 | $19,909 | |
Profit Before Interest and Taxes | $9,749 | $11,497 | $12,555 | $13,627 | $14,710 | $15,791 | $16,910 | $18,030 | $17,460 | $20,305 | $21,463 | $22,636 | |
EBITDA | $9,749 | $11,497 | $12,555 | $13,627 | $14,710 | $15,791 | $16,910 | $18,030 | $17,460 | $20,305 | $21,463 | $22,636 | |
Interest Expense | $1,585 | $1,577 | $1,568 | $1,560 | $1,551 | $1,543 | $1,534 | $1,526 | $1,518 | $1,509 | $1,501 | $1,492 | |
Taxes Incurred | $2,449 | $2,976 | $3,296 | $3,620 | $3,948 | $4,274 | $4,613 | $4,951 | $4,783 | $5,639 | $5,989 | $6,343 | |
Net Profit | $5,714 | $6,944 | $7,691 | $8,447 | $9,211 | $9,974 | $10,763 | $11,553 | $11,160 | $13,157 | $13,974 | $14,801 | |
Net Profit/Sales | 10.27% | 12.06% | 12.92% | 13.74% | 14.52% | 15.24% | 15.95% | 16.62% | 15.59% | 17.86% | 18.44% | 18.99% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $55,657 | $57,577 | $59,517 | $61,475 | $63,454 | $65,441 | $67,476 | $69,521 | $71,588 | $73,680 | $75,797 | $77,941 | |
Subtotal Cash from Operations | $55,657 | $57,577 | $59,517 | $61,475 | $63,454 | $65,441 | $67,476 | $69,521 | $71,588 | $73,680 | $75,797 | $77,941 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $10,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $55,657 | $67,577 | $59,517 | $61,475 | $63,454 | $65,441 | $67,476 | $69,521 | $71,588 | $73,680 | $75,797 | $77,941 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $8,570 | $8,570 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | $8,573 | |
Bill Payments | $1,900 | $56,613 | $45,189 | $44,259 | $45,470 | $46,697 | $47,933 | $49,190 | $50,495 | $52,889 | $53,035 | $54,350 | |
Subtotal Spent on Operations | $10,470 | $65,183 | $53,762 | $52,832 | $54,043 | $55,270 | $56,506 | $57,763 | $59,068 | $61,462 | $61,608 | $62,923 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | $1,196 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $11,666 | $66,379 | $54,958 | $54,028 | $55,239 | $56,466 | $57,702 | $58,959 | $60,264 | $62,658 | $62,804 | $64,118 | |
Net Cash Flow | $43,991 | $1,198 | $4,559 | $7,447 | $8,215 | $8,975 | $9,774 | $10,562 | $11,324 | $11,022 | $12,993 | $13,823 | |
Cash Balance | $83,991 | $85,189 | $89,748 | $97,194 | $105,409 | $114,384 | $124,159 | $134,721 | $146,045 | $157,066 | $170,059 | $183,882 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $40,000 | $83,991 | $85,189 | $89,748 | $97,194 | $105,409 | $114,384 | $124,159 | $134,721 | $146,045 | $157,066 | $170,059 | $183,882 |
Inventory | $10,000 | $25,633 | $28,793 | $29,758 | $30,733 | $31,719 | $32,715 | $33,723 | $34,740 | $35,771 | $36,813 | $37,868 | $38,936 |
Other Current Assets | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 | $38,000 |
Total Current Assets | $88,000 | $147,624 | $151,981 | $157,506 | $165,927 | $175,128 | $185,099 | $195,881 | $207,461 | $219,816 | $231,879 | $245,927 | $260,817 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $88,000 | $147,624 | $151,981 | $157,506 | $165,927 | $175,128 | $185,099 | $195,881 | $207,461 | $219,816 | $231,879 | $245,927 | $260,817 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $55,106 | $43,715 | $42,745 | $43,915 | $45,100 | $46,295 | $47,509 | $48,732 | $51,123 | $51,225 | $52,495 | $53,781 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 | $25,500 |
Subtotal Current Liabilities | $25,500 | $80,606 | $69,215 | $68,245 | $69,415 | $70,600 | $71,795 | $73,009 | $74,232 | $76,623 | $76,725 | $77,995 | $79,281 |
Long-term Liabilities | $225,000 | $223,804 | $222,608 | $221,412 | $220,216 | $219,020 | $217,824 | $216,628 | $215,433 | $214,237 | $213,041 | $211,845 | $210,649 |
Total Liabilities | $250,500 | $304,410 | $291,823 | $289,657 | $289,632 | $289,621 | $289,619 | $289,638 | $289,665 | $290,860 | $289,766 | $289,840 | $289,930 |
Paid-in Capital | $0 | $0 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |
Retained Earnings | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) | ($162,500) |
Earnings | $0 | $5,714 | $12,658 | $20,349 | $28,796 | $38,007 | $47,981 | $58,743 | $70,296 | $81,456 | $94,613 | $108,587 | $123,388 |
Total Capital | ($162,500) | ($156,786) | ($139,842) | ($132,151) | ($123,704) | ($114,493) | ($104,519) | ($93,757) | ($82,204) | ($71,044) | ($57,887) | ($43,913) | ($29,112) |
Total Liabilities and Capital | $88,000 | $147,624 | $151,981 | $157,506 | $165,927 | $175,128 | $185,099 | $195,881 | $207,461 | $219,816 | $231,879 | $245,927 | $260,817 |
Net Worth | ($162,500) | ($156,786) | ($139,842) | ($132,151) | ($123,704) | ($114,493) | ($104,519) | ($93,757) | ($82,204) | ($71,044) | ($57,887) | ($43,913) | ($29,112) |
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Published Nov.11, 2016
Updated Apr.26, 2024
By: Brandi Marcene
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Table of Content
Do you want to start a barbershop? Well, it might be an excellent idea if you are looking for a business that is simple but profitable. The biggest advantage of a barbershop is that it doesn’t require any official training or technical know-how. You can start your business at any time with ease.
Even though this is a relatively simple business, you will still need to look at business plans for barber shops to make one of your own. If you want to learn how to make a business plan for a barber shop, you can either hire business plan writing services or learn from the format below. We will take you through everything you should include in your barber shop business plan step-by-step. So you can use this to even write soap manufacturer business plan .
2.1 the business.
Hank’s Barber Care will be a barbershop startup owned by Hank Peterson. The business will work to provide haircutting and salon services throughout Morristown. It will offer several services ranging from cutting, trimming, waxing, shaving, and hair color.
To ensure that your startup is well-managed, you need to have a solid business plan strategy . And, to make that strategy, you need to be well versed in barbershop business plans.
You can go about writing a barber shop start up business plan in two ways. Either learn how to write a business plan for a barber shop or go through a beauty supply store business plan or maybe a barber shop business plan example, like the one we are showing here.
Our customers will belong to almost every class of people, irrespective of their jobs or ethnicities. However, our potential and recurring customers are as follows:
The main target of our business is to make sure that we provide satisfactory and reliable services to all of our customers whenever they need to freshen up their look.
Our financial targets to meet for the first three years of our start are shown below:
3.1 company owner.
Hank Peterson will be the owner of Hank’s Barber Care. Hank completed his Bachelor’s a few years back. After his academic career, he worked at a managerial post for two years in a startup business firm. However, he left his job to fulfill his dream of opening a barbershop.
Hank noticed a pattern of decline in traditional barber services around New Jersey. He observed that most places were focused more on looks than the comfort of customers. And so, he wanted to change the narrative by starting a stable barbershop with a good environment.
Step1: Plan Everything
Before you figure out anything else, you need a business plan for a start up barber shop or a hair salon business plan . If you ask barber shop business plan experts, they will tell you that you require a business plan even if you just want to know how to start your own barbershop.
So, now that you know that a barber shop business plan is a must, you need to learn how to do a business plan for a barber shop. For reference, you can take a look at the barber shop business plan template that we have presented here.
Step2: Define the Brand
Now that you have a basic plan, you need to highlight the value you provide to your customers. It is the time to brand your unique services to customers.
Step3: Establish Your Corporate Office
Hank decided to rent out a corner shop in Morristown to set up his barbershop. He will now buy all the tools and products needed, and he will also hold interviews to hire some barbers.
Step4: Establish a Web Presence
We live in an age where the internet is the best way to reach people. Hank decided to set up social media profiles for his business. He has also decided to have a website made where customers can book their appointments. It will give him an edge over other barbershops as people can easily schedule their trips and won’t need to wait in long lines.
Step5: Promote and Market
The last step is to make a marketing plan and promote your business.
Legal | $146,000 |
Consultants | $0 |
Insurance | $23,000 |
Rent | $33,000 |
Research and Development | $10,000 |
Expensed Equipment | $56,000 |
Signs | $3,400 |
Start-up Assets | $266,000 |
Cash Required | $369,000 |
Start-up Inventory | $39,000 |
Other Current Assets | $240,000 |
Long-term Assets | $287,000 |
Start-up Expenses to Fund | $271,400 |
Start-up Assets to Fund | $1,201,000 |
Assets | |
Non-cash Assets from Start-up | $1,506,000 |
Cash Requirements from Start-up | $285,000 |
Additional Cash Raised | $50,000 |
Cash Balance on Starting Date | $35,000 |
Liabilities and Capital | |
Liabilities | $18,000 |
Current Borrowing | $0 |
Long-term Liabilities | $0 |
Accounts Payable (Outstanding Bills) | $48,000 |
Other Current Liabilities (interest-free) | $0 |
Capital | |
Planned Investment | $1,472,400 |
Investor 1 | $0 |
Investor 2 | $0 |
Other | $0 |
Additional Investment Requirement | $0 |
Loss at Start-up (Start-up Expenses) | $337,600 |
Before you start learning how to start a barber business, you need to figure out the services you will be providing to your clients. Only then can you start a barbershop business plan.
The business plan for a barbing salon will differ from the usual business plans. So, it’s a good idea to look at some samples of a barbershop business plan pdf. It is also good to go through other examples, such as cosmetics manufacturing business plan .
As Hank’s idea was to provide as many essential services as possible in a single space, the barber shop business plan for his shop can be used as a reference for other businesses. You can also look at a barber shop business plan pdf online for a better idea. Some services to be provided by Hank’s Barber Care include:
Hank’s Barber Care will specialize in all types of male haircuts and hairstyles. Our customers can use whatever hairstyle they want, and our barbers will fulfill their requests.
Our customers can also avail themselves of our massaging and conditioning services. These services can help customers relax and leave their stress behind. It can also help with blood flow and hair growth.
Straight razors are considered to be something of a specialty when it comes to barbers. And our customers can rest assured that they will find the same level of skill in our barbershop. They can expect hot lather, irritation-free shave with the sharpest stylings.
No matter what the shape or texture of your beard is, our barbers can take it and turn it into a work of art with just a few masterful strokes of the razor.
Opening up a barbershop requires much more work than it might seem. And one of the most important steps to opening a barber shop is market analysis. It allows you to find and understand your customer base.
Your analysis should include both past and present trends in the market. It should also analyze cost requirements such as how much to open barber shop or what are the most critical considerations when starting a barbershop business. You can find more help in related plans such as eyelash extension business plan .
If you don’t understand market analysis and its components, you can refer to this barber shop business plan doc for help. In this document, we have researched and analyzed our business’s various market trends and target customer bases.
According to the Bureau of Labor Statistics, the Barber Shops Industry Group employed 738k people in 2019. It is also estimated that the job growth will increase by 5.55% in the next ten years. According to Forbes, barbering is also one of the fastest-growing professions in the US.
The market share of the barber shop industry is currently 5 billion, and according to IBISWorld, the industry’s revenue is also expected to rise by 1.5%.
The potential customers of Pro Cleaning Services are divided into the following groups:
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Our main client base will be the nearby residents of Morristown. They are expected to avail of our services regularly. And they are also expected to utilize our more specialized services at least a few times a month. The presence of suburbs and family communities will help maintain a fresh flow of customers throughout each month.
Another vital part of our customer base will be people who don’t necessarily live in Morristown but are involved in businesses around the area. They are anticipated to use our specialized services more often as compared to the regular ones.
Our third group of customers will be from the work facilities in and around Morristown. Workplaces are expected to use both our regular and special services, but their frequency of use is expected to be much less.
Due to the fantastic job opportunities present around Morristown, we are also likely to get a steady flow of job hunter clientele. With our quick, neat, and affordable services, they will be able to look their best on their important days.
Residential Community | 32% | 33,000 | 35,000 | 37,000 | 39,000 | 41,000 | 10.00% |
Business Folk | 25% | 30,000 | 31,000 | 34,000 | 35,000 | 37,000 | 10.00% |
Work Facilities | 23% | 24,000 | 26,000 | 29,000 | 30,000 | 32,000 | 10.00% |
Job Hunters | 20% | 16,000 | 18,000 | 20,000 | 21,000 | 23,000 | 11.00% |
10% |
Our price range will be moderate and relatively less than those of our competitors. We aim to offer better customer service to our client base in an affordable price range.
To gain traction in a competitive market, you will need a good barber shop marketing plan. Furthermore, you will also need to find enough competitive aspects to put you over the other barbershops in the area.
You can do this through a free business plan for barber shop. And if you want to know how to open a barbershop, then this barber shop business plan is an excellent place for you to learn. We are describing all the necessary details you need to look for in your business. And we are also looking at some crucial factors that help increase the value of the shop, such as Competitive Analysis and Sales Strategy.
Unit Sales | |||
Male Haircut | 28,000 | 29,680 | 31,461 |
Massages & Conditioning | 25,000 | 26,500 | 28,090 |
Razor & Wet Shaving | 20,000 | 21,200 | 22,472 |
Beard Styling | 12,000 | 12,720 | 13,483 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Male Haircut | $10.00 | $11.60 | $13.46 |
Massages & Conditioning | $12.00 | $13.92 | $16.15 |
Razor & Wet Shaving | $12.50 | $14.50 | $16.82 |
Beard Styling | $15.00 | $17.40 | $20.18 |
Sales | |||
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Male Haircut | $4.00 | $4.40 | $4.62 |
Massages & Conditioning | $5.00 | $5.50 | $5.78 |
Razor & Wet Shaving | $4.50 | $4.95 | $5.20 |
Beard Styling | $4.00 | $4.40 | $4.62 |
Direct Cost of Sales | |||
The success of any business is greatly dependent on the mannerisms and capability of the workers. Hank knew that his business depended even more on a competent workforce. That’s why in both his barber shop business proposal and in his business plans for a barber shop, he included a list of employees that will form his business.
Co Manager | $30,000 | $33,000 | $36,300 |
Barbers | $92,000 | $101,200 | $111,320 |
Specialized Barbers | $90,000 | $99,000 | $108,900 |
Cleaners | $25,000 | $27,500 | $30,250 |
Web Developer | $15,000 | $16,500 | $18,150 |
Social Media Manager | $15,000 | $16,500 | $18,150 |
Sales Executives | $30,000 | $33,000 | $36,300 |
Accountant | $65,000 | $71,500 | $78,650 |
Receptionist | $15,000 | $16,500 | $18,150 |
Profits do not measure the true success of a business. There are a lot of aspects that go into the whole conclusion. And one of the essential ingredients is financial analysis. It will include the start up costs of a barbershop and the running expenses.
You will observe that just like this plan, every barber shop business plan or even reiki business plan will contain identification and in-depth analysis of your monthly and yearly expenditures. This way, you can figure out ways to reduce them to a reasonable and sustainable level.
Here we’re providing the detailed financial plan made for Hank’s Barber Care Shop so that you can get an idea of the business finances.
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 8.12% | 8.20% | 8.26% |
Long-term Interest Rate | 8.40% | 8.44% | 8.47% |
Tax Rate | 24.03% | 24.21% | 24.60% |
Other | 0 | 0 | 0 |
Monthly Units Break-even | 5340 |
Monthly Revenue Break-even | $132,500 |
Assumptions: | |
Average Per-Unit Revenue | $231.00 |
Average Per-Unit Variable Cost | $0.62 |
Estimated Monthly Fixed Cost | $163,800 |
Other | $0 | $0 | $0 |
TOTAL COST OF SALES | |||
Expenses | |||
Payroll | $377,000 | $414,700 | $456,170 |
Sales and Marketing and Other Expenses | $145,000 | $148,000 | $156,000 |
Depreciation | $2,300 | $2,350 | $2,500 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $2,900 | $3,000 | $3,100 |
Insurance | $2,100 | $2,100 | $2,100 |
Rent | $2,900 | $3,000 | $3,200 |
Payroll Taxes | $24,000 | $25,000 | $27,000 |
Other | $0 | $0 | $0 |
Profit Before Interest and Taxes | $78,800 | $206,496 | $390,306 |
EBITDA | $78,800 | $206,496 | $390,306 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $15,760 | $41,299 | $78,061 |
Net Profit | $63,040 | $165,197 | $312,245 |
Net Profit/Sales | 6.24% | 13.30% | 20.45% |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $51,000 | $55,080 | $59,486 |
Cash from Receivables | $22,000 | $23,760 | $25,661 |
SUBTOTAL CASH FROM OPERATIONS | |||
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
SUBTOTAL CASH RECEIVED | |||
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $42,000 | $42,000 | $45,000 |
Bill Payments | $27,000 | $28,000 | $31,000 |
SUBTOTAL SPENT ON OPERATIONS | |||
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
SUBTOTAL CASH SPENT | |||
Net Cash Flow | $21,000 | $23,000 | $25,000 |
Cash Balance | $27,000 | $30,000 | $33,000 |
Assets | |||
Current Assets | |||
Cash | $275,000 | $308,000 | $338,800 |
Accounts Receivable | $24,000 | $26,880 | $30,213 |
Inventory | $4,300 | $4,816 | $4,900 |
Other Current Assets | $1,000 | $1,000 | $1,000 |
TOTAL CURRENT ASSETS | |||
Long-term Assets | |||
Long-term Assets | $10,000 | $10,000 | $10,000 |
Accumulated Depreciation | $19,400 | $21,728 | $24,444 |
TOTAL LONG-TERM ASSETS | |||
TOTAL ASSETS | |||
Liabilities and Capital | Year 4 | Year 5 | Year 6 |
Current Liabilities | |||
Accounts Payable | $18,700 | $20,944 | $23,541 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
SUBTOTAL CURRENT LIABILITIES | |||
Long-term Liabilities | $0 | $0 | $0 |
TOTAL LIABILITIES | |||
Paid-in Capital | $30,000 | $30,000 | $31,000 |
Retained Earnings | $53,000 | $57,770 | $63,547 |
Earnings | $193,400 | $210,806 | $231,887 |
TOTAL CAPITAL | |||
TOTAL LIABILITIES AND CAPITAL | |||
Net Worth | $293,400 | $319,806 | $351,787 |
Sales Growth | 7.25% | 8.03% | 8.90% | 3.00% |
Percent of Total Assets | ||||
Accounts Receivable | 9.21% | 10.20% | 11.31% | 9.80% |
Inventory | 5.39% | 5.97% | 6.62% | 9.90% |
Other Current Assets | 2.11% | 2.34% | 2.59% | 2.40% |
Total Current Assets | 149.80% | 151.00% | 152.00% | 158.00% |
Long-term Assets | 11.55% | 11.60% | 11.64% | 12.00% |
TOTAL ASSETS | ||||
Current Liabilities | 4.90% | 4.94% | 4.98% | 4.34% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 0.00% |
Total Liabilities | 7.59% | 7.65% | 7.72% | 7.38% |
NET WORTH | ||||
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 94.60% | 97.15% | 99.87% | 99.00% |
Selling, General & Administrative Expenses | 93.56% | 96.09% | 98.78% | 97.80% |
Advertising Expenses | 1.52% | 1.56% | 1.60% | 1.40% |
Profit Before Interest and Taxes | 41.50% | 42.62% | 43.81% | 33.90% |
Main Ratios | ||||
Current | 34 | 35 | 36 | 32 |
Quick | 33 | 33.8 | 34.645 | 33 |
Total Debt to Total Assets | 0.18% | 0.18% | 0.17% | 0.40% |
Pre-tax Return on Net Worth | 74.08% | 74.89% | 75.00% | 75.00% |
Pre-tax Return on Assets | 96.30% | 101.12% | 106.17% | 111.30% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 33.56% | 34.60% | 35.67% | N.A. |
Return on Equity | 55.80% | 57.53% | 59.31% | N.A. |
Activity Ratios | ||||
Accounts Receivable Turnover | 7.7 | 7.8 | 7.8 | N.A. |
Collection Days | 100 | 100 | 100 | N.A. |
Inventory Turnover | 32.4 | 34.02 | 35 | N.A. |
Accounts Payable Turnover | 15.6 | 16 | 16.3 | N.A. |
Payment Days | 27 | 27 | 27 | N.A. |
Total Asset Turnover | 2.5 | 2.5 | 2.6 | N.A. |
Debt Ratios | ||||
Debt to Net Worth | -0.04 | -0.03 | -0.04 | N.A. |
Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
Liquidity Ratios | ||||
Net Working Capital | $244,000 | $257,664 | $272,093 | N.A. |
Interest Coverage | 0 | 0 | 0 | N.A. |
Additional Ratios | ||||
Assets to Sales | 0.85 | 0.87 | 0.89 | N.A. |
Current Debt/Total Assets | 1% | 0% | 0% | N.A. |
Acid Test | 29 | 29.12 | 29.16 | N.A. |
Sales/Net Worth | 2.1 | 2.2 | 2.2 | N.A. |
Dividend Payout | 0 | 0 | 0 | N.A. |
You can use the above mentioned business plan barber shop template to get a decent idea for what a business plan barbershop should contain.
The cost incurred while starting a barber shop business plan depends on a lot of factors such as location, number of services, and scale of your business. But relatively, a barbershop is one of the easier businesses to start.
The best way to attract customers is to give unique and quality services so that every customer leaves your shop satisfied.
The first step to starting any business is to plan. And you can do this through barber shop business plans. You can refer to the sample business plan for barber shop here.
Download Barber Shop Business Plan Sample in pdf
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.
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Barber shop business plan, 3+ sample barber shop business plan, what is a barber shop business plan, why choose a barber shop for a business, making that successful barber shop business plan, what are some of the services that are typically offered in a barber shop, what are some of the common men’s haircuts offered in a barber shop, what are some of the tools and equipment usually found in a barber shop.
Step 1: executive summary, step 2: market analysis, step 3: marketing plan, step 4: financial plan, share this post on your network, you may also like these articles.
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Creating a comprehensive business plan is crucial for launching and running a successful beauty salon. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your salon’s identity, navigate the competitive market, and secure funding for growth.
This article not only breaks down the critical components of a beauty salon business plan, but also provides an example of a business plan to help you craft your own.
Whether you’re an experienced entrepreneur or new to the beauty industry, this guide, complete with a business plan example, lays the groundwork for turning your beauty salon concept into reality. Let’s dive in!
Our beauty salon business plan is designed with clarity and thoroughness, addressing all crucial aspects needed for a comprehensive business plan. It details the salon’s operations, strategic approach, market environment, competitive landscape, management team, and financial projections.
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Fully editable 30+ slides Powerpoint presentation business plan template.
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The Executive Summary serves as an introduction to your beauty salon’s business plan, providing a succinct overview of your salon and the variety of beauty services it offers. This section should outline your salon’s market positioning, the comprehensive range of beauty treatments and services provided, its location, size, and a brief on operational practices.
Additionally, this section should assess how your beauty salon positions itself within the local market. It should enumerate the number of direct competitors in the vicinity, identify these competitors, and emphasize your salon’s unique selling points that set it apart.
It’s also essential to include details about the management and co-founding team, specifying their roles and how they contribute to the salon’s operational and strategic goals. Lastly, a summary of the financial projections, highlighting expected revenue and profit margins over a 5-year period, should be incorporated to outline the financial plan of your beauty salon.
A concise and informative business overview is pivotal. It introduces essential details like the salon’s name, location, and a snapshot of its daily operations.
These details set the stage for your salon, framing its unique characteristics. A unique selling proposition (USP) distinguishes your salon. Whether focusing on premium organic products, specialized skincare treatments, or personalized client experiences, the USP should stand out in your executive summary, encapsulating your salon’s unique value proposition .
Example: In the US beauty salon industry valued at $57 billion, experiencing a 7.0% CAGR, “Radiance Beauty Haven,” located in the heart of Vibrant City Heights, occupies a spacious 2,500 square feet area on Oak Street. We specialize in a myriad of premium beauty services, including haircare, skincare, nail artistry, makeup, and spa therapies. Our USP lies in providing customized beauty solutions with a focus on organic, cruelty-free products, offering clients a holistic and rejuvenating experience.
Understanding the market size , growth trends, and industry dynamics is crucial. This section should highlight the potential of the local beauty and wellness market, supported by relevant data such as market value and growth rates. Discussing trends, such as the rising demand for natural beauty products or holistic wellness therapies, sheds light on the evolving landscape and your salon’s positioning within it.
Equally important is outlining the competitive landscape. Identify key competitors and elucidate how your salon distinguishes itself within this framework. Whether through specialized services, exceptional customer care, or innovative beauty techniques, this section showcases how your salon stands out amidst the competition.
Example: In the local beauty and wellness market of Vibrant City Heights, valued at $8 million annually with a 10% growth rate, Radiance Beauty Haven stands out by emphasizing organic, cruelty-free beauty products and personalized wellness experiences. Amidst competition, our commitment to holistic beauty practices positions us as the preferred choice for clients seeking a revitalizing and natural approach to beauty care.
The expertise and background of your management team are significant assets. Highlight the qualifications and experiences of key team members in your executive summary.
This could include your salon manager’s extensive experience in beauty service management or your marketing director’s specialized skills in client engagement. Demonstrating the team’s proficiency builds credibility and assures potential investors and partners of your salon’s capacity for success.
Example: At Radiance Beauty Haven, Emma Johnson, with a decade of experience in beauty service management and business development, leads the team. Supported by a roster of skilled beauty professionals and wellness experts, each dedicated to curating luxurious and personalized client experiences, the salon promises expertise and excellence in every service.
A concise overview of your financial goals and projections is crucial. Summarize revenue targets, profit margins, and anticipated growth trajectories, offering a clear picture of your salon’s financial trajectory.
Example: Radiance Beauty Haven aims for a projected revenue of $700,000 within its first year, targeting a 20% net profit margin. Investment in premium beauty equipment and a strategic focus on personalized client experiences, complemented by a robust marketing strategy aimed at wellness enthusiasts, drive anticipated growth and profitability within the local market.
For a Beauty Salon, the Business Overview section is structured into 2 slides:
Illustrate the ambiance and layout of your beauty salon, highlighting features that create a welcoming and luxurious experience for clients. Discuss the salon’s strategic location, emphasizing how its accessibility and the surrounding area contribute to attracting your target market . Mention the benefits of your chosen location, such as high foot traffic or nearby complementary businesses.
Explain the variety of beauty treatments and services your salon offers, including facials, manicures/pedicures, makeup, waxing, and more specialized services. Provide an overview of your pricing structure , showing how it aligns with the quality of services and the expectations of your clientele. Also, introduce any special offers, memberships, or loyalty programs designed to retain customers and enhance their experience at your salon.
In the Market Overview of your beauty salon business plan, initially address the overall size of the beauty salon industry and its prospects for growth. This provides a foundational understanding of the market’s scale and potential for expansion.
Next, explore recent trends within the industry, such as the increasing consumer preference for holistic beauty treatments, the demand for eco-friendly and natural beauty products, and the rise of personalized beauty services. For example, point out the growing popularity of bespoke skincare routines and treatments that cater to individual skin concerns, as well as the shift towards sustainable practices in beauty care.
A competitive analysis is not just a tool for gauging the position of your beauty salon in the market and its key competitors; it’s also a fundamental component of your business plan.
This analysis helps in identifying your beauty salon’s unique selling points, essential for differentiating your business in a competitive market.
In addition, competitive analysis is integral in laying a solid foundation for your business plan. By examining various operational aspects of your competitors, you gain valuable information that ensures your business plan is robust, informed, and tailored to succeed in the current market environment.
The initial phase involves identifying and mapping out competitors within the vicinity of your beauty salon. Consider various establishments, such as hair salons, spas, nail studios, and wellness centers, as your primary competitors. For instance, if your salon specializes in organic skincare treatments, your direct competitors might include nearby spas known for their natural therapies, as well as upscale salons offering similar services. Additionally, explore indirect competitors such as makeup stores or mobile beauty services that might cater to overlapping clientele.
Utilize online tools like Google Maps, Yelp, or social media platforms to gain insights into competitor distribution and customer reviews. Reviews often provide valuable information about competitors’ strengths and weaknesses . For instance, if several reviews highlight the exceptional customer service and expertise at “Glow Spa & Beauty,” this signifies a key strength of your competitor, influencing customer preferences.
Analyzing competitors’ strategies encompasses various dimensions:
Define your beauty salon’s unique value proposition . It could be specializing in bespoke bridal makeovers, offering exclusive organic hair treatments, or providing niche services like permanent makeup artistry that distinguish your salon.
Identify gaps in the market through client feedback and industry trends. For instance, an increasing demand for sustainable beauty products might present an opportunity if competitors are yet to cater extensively to eco-conscious consumers.
Tailor your salon’s offerings and ambiance according to your location. A salon situated in a cosmopolitan area might focus on avant-garde trends and express services. At the same time, one in a suburban locale might emphasize a relaxing, family-friendly environment to cater to a different demographic.
First, undertake a SWOT analysis for the beauty salon, identifying Strengths (such as a diverse range of beauty treatments and experienced beauticians), Weaknesses (like substantial ongoing costs or intense local competition), Opportunities (for instance, an increasing interest in self-care and beauty services), and Threats (such as economic downturns impacting discretionary spending).
Next, craft a marketing strategy that describes ways to attract and retain customers through targeted advertising, special introductory offers, active engagement on social media platforms, and participation in community events.
These channels are vital for building brand awareness and engaging potential clients.
In addition to marketing, various sales strategies can enhance customer satisfaction and maximize revenue for a beauty salon.
Finally, map out a comprehensive timeline that highlights essential milestones for the beauty salon’s launch, promotional campaigns, customer growth, and plans for scaling the business, ensuring that the salon advances with strategic intent and defined objectives.
The Management section focuses on the beauty salon’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the salon towards its financial and operational goals.
For your beauty salon business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.
The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your beauty salon’s approach to securing funding, managing cash flow, and achieving breakeven.
This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.
For your beauty salon business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).
Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds
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The hair beauty salon business is one of the most lucrative businesses you can start. A hair & beauty salon is a business that offers cosmetic services for men and women. Almost any person on earth normally regularly requires such services. This means the pool of prospects for the hair beauty salon business is huge. The services that an individual hair & beauty salon business can offer are broad and diverse. There definitely is a piece for everyone interested in starting a hair beauty salon. Operating a hair & beauty salon business is a profitable business venture. However, above everything else, the hair & beauty salon business calls for exceptional relationships and the highest standards of service. This is one of the most lucrative businesses that have undergone significant transformation over the past two decades. This industry has continued to thrive and rebound even during the recessions. This article will outline how to set up a hair and beauty salon, and the hair & beauty salon business plan – PDF, Word and Excel.
Hair and beauty salons provide income for many entrepreneurs but to set up a such a business there are some important factors you need to consider. You must determine on the size of your salon, where you will locate your business and the kind of products and services you intend to offer to your customers. All these and other various factors are affected by who your target market is and the amount of capital you want to invest in the business. As such, you must conduct proper market research and have a well thought out hair & beauty salon business plan.
Traditionally there are several hair & beauty salon services you can offer. They are typically packaged in such a way that there are service charges. The service charge can vary depending on the certain circumstances. For instance, a customer might want their hair done but having already bought the necessary supplies themselves. That will mean they will only get to pay for the service of getting the hair done. If not, they will pay for everything in-house. Times are changing and hair beauty salons are also moving into retail. Thus money-making methods for the hair beauty salon business are evolving.
The location and premises of your hair and beauty salon are important to consider when setting up your business. This is because your chosen location has a direct effect on how successful your business will be. Thus, when choosing a location for your hair and beauty salon consider where your target market is, whether there is road and foot traffic, as well as how accessible your salon will be. Think about setting up your hair and beauty salon at a popular shopping centre, a mall, or somewhere close to the CBD. It is also important to consider how the surrounding area will affect your business. You do not want to set up your hair and beauty salon in a saturated place where there are a lot of salons because that will not be good for your business. Also consider the size of your premises and make sure that your premises are large enough for your equipment and can accommodate a reasonable number of people. Parking space is also essential when considering your premises. Your customers should not have hard time when it comes to parking space if they are to come to your hair and beauty salon. Your beauty and hair salon business plan should include the costs of renting or purchasing the premises.
You can be operating a solo hair & beauty salon, as many do or start off as. That does not mean you should operate informally. There are doors you will open for your hair beauty salon business if you formally register it. Follow up on that by applying for a business operating license. Approach your respective municipality offices to seek guidance. When that is in order the next step should be to get insurance for your hair beauty salon business. Insurance providers will offer guidance on the specific types of insurance covers you will need. Garnish all these steps by opening a business bank account for your hair beauty salon. The principle is to separate your hair beauty salon entity from your personal finances.
By nature, the hair & beauty salon business is quite competitive. There is typically always a high number of hair & beauty salons in any central business district. That is why it is vital that you do some research into your competitor dynamics. The best approach is to identify your top 3 notable competitors. Look into the composition of their hair beauty salon businesses. What type of services do they offer? Do they sell any products, if so, which ones? What are their service prices? What are their customers experiences like? What is their customer segmentation dynamics like? Where are they located?
These are some of the questions to guide you in researching your competitors. Go as far as researching into indirect competitors too. These can be hair & beauty salons in other locations with customers you could lure away. You are looking into all these aspects to find ways you can use to make your hair beauty salon outstanding. Always remember that there are too many options for consumers when it comes to hair beauty salons. Any slight shortcoming on your part and consumers will gladly explore other options.
When it comes to a hair and beauty salon you need the right tools and equipment to be successful in the business. You must invest in good quality hair dryers, styling kits, curlers, combs, and furniture. The chairs that you may need include hair styling chairs, shampoo chairs, dryer chairs & all purpose chairs. The furniture which you purchase for your hair & beauty salon should be c omfortable, durable, and easy to use. The size of your business together with the services you intend to offer will determine the kind of furniture and equipment that you will need for your business. Your hair & beauty salon business plan should include the costs of purchasing the furniture & equipment.
When it comes to the products and services of your hair and beauty salon you need to first understand who your customer is. Researching your target customer will help you understand what their needs are when it comes to hair care. The hair & beauty salon business lends itself to variety in terms of the services that are on offer. For example, you can offer cutting, color, braiding, styling, pedicure, manicure, massages and skin treatments. The individual services and products will vary greatly depending on the tastes and preferences of your client at any given moment in time. There will be lots of troubleshooting along the way because you may be required to respond to requests that were not originally part of your program. The hair salon business is unique in this respect because it varies so greatly depending on the fashion trends and the responses of the clients at that particular time. It is always best to have a variety of products and services in order to increase your business’ earning potential. If you decide to sell hair or other complimentary products it is important to make sure that you source your products from the right supplier. Always purchase your products from suppliers who have good quality products. Any other additional services such as facials, make up application and skincare will help you generate more income and serve a wider customer base. Your hair and beauty business plan should outline the products and services you will offer.
If you are going to be a customer centric business, you need to have a good team. Service businesses such as a hair and beauty salon need people that know how to work with clients from all walks of life. It is best to hire experienced workers who are passionate about their jobs. Your hairdressers for example, should know how to braid, cut, apply chemical treatments, and communicate well with customers. If you hire people with no experience, it is best to train them first before giving them to intricate tasks. It is important for your beauty & hair salon business plan to include the number of people you need to employ together with their salaries.
Some of the day to day activities of a hair and beauty salon include;
Other important issues to consider when running a hair and beauty salon are health and safety regulations. Some of the health and safety regulations include cleanliness, the products you use and the general safety of your workers and your customers. It is necessary to conduct proper research and understand the regulations that govern your industry.
Be cognizant of the many customer segments.
In your marketing efforts you must be cognizant of the many customer segments that exist. Borne out of market research, it is prudent to appeal to the biggest segments. Customers in search of hair & beauty salon services are so diverse. There are those who are seeking to keep up with the latest trends. There are those who aim to subscribe to a certain societal class or status. There are also customers who are mostly conservative in their preferences. Do not forget there are kids on the one end and senior citizens on the other end. This is to just show you that your market targeting must be cognizant of the many available customer segments.
Establishing your hair beauty salon online is highly effective in pushing brand awareness. Sure enough some hair beauty salons do set up digital footprints, but not all. Just being online opens up your hair beauty salon to a limitless audience. Actively and regularly post content and buttress that with running online contests. Offering giveaways for engagement-centred online contests quickly builds your hair beauty salon’s online audience. Get involved with strategic online platforms or activities. For instance, you can offer your services for free to podcasts hosts or social media influencers. These are some the ways you can build your hair beauty salon’s online profile. This will all contribute in making your hair beauty salon business easily discoverable online.
The hair beauty salon thrives on referrals. It is often the case that someone tries out a hair beauty salon only after someone they trust recommended it. To tap into this dynamic you have to encourage and reward referrals by your customers. You can even put together a customer loyalty programme for your hair beauty salon business. To spice up the referrals element you can offer specials such as discounts. You can also run promotions; basically anything that causes others to refer customers to your hair beauty salon business.
The demand for hair & beauty salon services is very huge and ever increasing. The increase is due to the increased urbanization and population growth. You can offer your services to both male & females, young & old. The kind of services that you provide will determine the kind of customers that you will get. So you should offer services that suit your target market. If you offer good quality services, you will get many repeat customers, as people require hair & beauty services regularly. If you are in need of a retirement plan, or you are a professional simply looking for a side business setting up a hair and beauty salon is something worth considering. You can either set up your own company and create your own brand or go the less risky route and become a franchise. This way you can benefit from a proven successful business model although it may be limiting. Whatever you decide, setting up a hair and beauty salon is a business venture worth considering. To succeed in any business make sure that you understand your target market, and that you research the industry thoroughly.
Diversification into retail and complementary services.
Most hair beauty salons focus on just offering the applicable services. That is limited in as far as revenue and profitability is concerned. You have to diversify into product retail as well. You can do this retail in-store or via an online shop. There is a wide range of products you can sell in a hair beauty salon. The idea is to make it possible for every client to spend as much as possible. Complementary services you can add include a wide range of body treatments or therapy e.g. massages. This all aims at making your hair beauty salon a one stop shop.
This refers to more than just being active online. This specifically refers to availing digital services such as online booking and online payments. This will differentiate your hair beauty salon; most hair beauty salons do not offer digital services. Streamline these services by using new age technologies such as chatbots and artificial intelligence assistants. Already the common social media platforms you use can be integrated with such innovations. The basic thrust is to offer convenience and efficiency for your clients.Once you have internalized all this information you are ready to start your hair beauty salon. Your biggest sources of valid information are already existing hair beauty salons. Closely studying them will open your eyes to tricks of the trade.
Before setting up any business you need to develop a well thought out hair & beauty salon business plan. A business plan will help you think through your financial, operational, and marketing plan as well as develop a functional strategy. With a hair and beauty business plan you can also figure out if your business will be profitable or not. You can also determine the risks associated with your business and find ways to minimise them. A beauty and hair salon business plan is a useful tool both in the short run and long run.
For an in-depth analysis of the hair & beauty salon business, we encourage you to purchase our well-researched and comprehensive hair & beauty salon business plan. We introduced the business plans after discovering that many were venturing into the hair & beauty salon business without enough knowledge and understanding of how to run the business, lack of understanding of the financial side of the business, lack of understanding of : the industry, the risks involved , costs and profitability of the business; which often leads to disastrous losses.
The StartupBiz Global hair & beauty salon business plan will make it easier for you to launch and run your hair & beauty salon business successfully, fully knowing what you are going into, and what’s needed to succeed in the business. This is a complete business plan for a hair & beauty salon. It will be easier to plan and budget as you will be aware of all the costs involved in setting up and running the hair & beauty salon business.
The salon business plan can be used for many purposes including:
The business plan for hair & beauty salon includes, but not limited to:
The hair & beauty salon business plan package consists of 4 files
The business plan can be used in any country and can be easily edited. The financial statements are automated. This implies that you can change eg the costs, salaries etc, and all the other financial statements will automatically adjust to reflect the change.
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Put Your Cosmetology and Barbing Expertise to Good Use by Starting a Hair Salon, Nail Salon, or Beauty Salon! Start Planning for It Using Our Free Salon Business Templates on Template.net! They Feature a Complete Business Plan Outline, Including an Example Cover Page, Executive Summary, and Management Strategy. Download Now!
Are you planning on starting your own cosmetology business? Or you want to revamp your hair and nail salon business venture? If yes, then you've come to the right site! Starting or improving your salon business can be tricky if you don't know what ropes and courses to take. We offer high-quality and professional templates, as well as ways on how you can improve your business strategies. Your salon and cosmetology business will surely reach its goals through a Salon Business Plan. We offer fully customizable and highly editable salon business plan templates , available for download through Google Docs , MS Word , and Apple Pages . Get yours now!
A salon business plan is a document that states in detail the business strategies, various data analysis , summaries, and statements which will be used to propel the salon business forward. It states the goals and mission of a certain salon business and on how these goals will be realized and put to action.
A beauty salon is an establishment where a hairdresser, beautician, or couturier conducts business. Beauty professionals and cosmetologists offer various pampering and enhancement services to people of all genders. There are different kinds of salons that cater to different services for nails, hair, makeup, among other services.
A salon should always innovate and keep up with the trends and new styles. To keep the salon business afloat, a business plan must be created to define the nature of business. If your aim is to create a complete and comprehensive business plan outline , read through the guide below.
Understanding the process of research will propel the salon business to greater heights. Even in small business ventures, a good amount of research will change and improve the ways of conducting business. Research must always be of high quality in order to produce knowledge, ways, and means applicable in the drafting of the salon business plan. Reading different materials from reliable online and offline sources to gather up verified and credible information is a good way to start.
The executive summary is the first vital part of the business plan. It offers a synopsis of your overall salon business plan and highlights the vital points you want to address in the rest of your document. In the executive summary, the company information, business description, mission, and vision statement must all be included. Add in also the competitive edge of the salon from its competitors. Every detail must be written clearly and concisely because it serves as an advance organizer for the overall plan .
Identify the people who will benefit from your beauty salon and pampering services. Conducting a target market analysis will help you identify the basic customer demographics, trends, and the newest and hottest styles. Identifying the trend means knowing what in or out in the industry. When you have done the survey with your target market, interpret the data then figure out ways on how to reach out to them.
Your business plan must include basic information about the competition. This part is important because it will encourage you to step up your game and strategies. People go to salons that are tried, tested, and trusted. Be the salon that will be the talk of the town, to draw in more eager salon patrons. A SWOT analysis (strengths, weaknesses, opportunities, and threats) must also be performed to determine the problems and identify possible solutions in the overall salon workflow.
The marketing strategy section should explain how your salon business will penetrate and appeal to the target market. Write in the details about how your company plans to introduce the desired image and branding strategy. The marketing and operations strategies must identify all the pertinent requirements in realizing the vision. A time table of scheduled events must also be added to map out all activities.
This part of the business plan involves the salon operator's financial capability and funds to put the planned strategies into action. The projected financial statement will assess the sales forecast, balance sheets , and cash flow analyses .
BARBING SALON BUSINESS PLAN IN NIGERIA
FEGEOSTOM barbing salon is an exquisite beauty parlor located in the densely populated, residential district of Ogun State – Mowe to be precise. Although we are a growing business, we are careful enough to offer our customers an ideal environment that is serene and entertaining, so they can experience maximum relaxation as we provide our excellent service to them.
We are not only concerned about cutting or trimming the hair of our customers but we are interested in bringing out the beauty in them- through our excellent work of art. Moreover, our services are not limited to the men folks. We also provide services for women and children.
Our location is deliberately planned and strategic, providing an excellent advantage for our business. Mowe is primarily residential and about 90% of the population prefers to have their haircut or hair treatment within their residential area. It makes them more relaxed and gives them the opportunity for a quick overall clean up e.g. bathing. This is the major reason why we decided to have our first location in Mowe. Also, the real estate cost is still relatively cheap in this region.
We have plans to expand and extend our business beyond what it is now and we also hope to have branches in at least 4 south-western tertiary institutions.
To be the number one barbing salon in our locality through excellent service, ideal environment and future extension to other regions.
Products and services
Why you should be patronize us
We are in an easily accessible location with good parking space, our environment is comfortable and entertaining, our services are top-notch and our prices fair.
The importance of our location cannot be over-emphasized in any business. We are aware of the fact that the success of a salon business depends on how easy it is to reach it. That is why we are deliberate about our location. Our location is so strategic such that we are visible to passers-by and easily accessible by vehicles with enough parking space. We believe in creativity; therefore, we made our shop so beautiful and attractive to get the attentions of passers-by.
Competitive strategy for Barbing salon Business plan in Nigeria
We are not a regular beauty shop. We offer top-quality barbing and grooming services to our clients and we also incorporate entertainment for our clients in our services. We serve as a mini viewing center due to the fact that 80% of our clients are football lovers and we do not charge for this. Our shop is large enough to house 15 people comfortably at a time and we do not restrict this access to our clients only.
This bonus has been very effective in growing our customer base. Additionally, our customer service is top-notch. We maintain a culture of respect and politeness for everyone that visits our shop whether they need our services or not. We are able to achieve this by employing well-groomed and educated individuals.
Equipment for Barbing salon Business plan in Nigeria
Stand-by generator, standard rotatable barber chairs, quality clippers, wall mirrors, cover cloths, cosmetics, air conditioners, standing fan, plasma TV, plastic chairs and satellite. Our current operational cost is about 800,000 naira including goods that are being sold.
However, we hope to expand beyond our current status. We aspire to fully incorporate a standard viewing enter which we can be monetized alongside our current business. We also look forward to having a game center (majorly table tennis and PES). These additions will help us generate more profit and increase our customer base.
The cost of expansion requires a sum of N15 million. This includes the cost of purchasing land and building our own facility. This is to eliminate rental cost and ensure our sustainability in the region in which we are known. The remaining funds will be used to employ more competent hands and get the necessary equipment.
Marketability
Presently, our quality service and uniqueness have been an excellent market strategy. However, as we expand, we intend to optimize social media marketing (SMM) in order to create awareness beyond our locality. We believe that our uniqueness in incorporating other businesses such as viewing and gaming centers to our beauty shop will enhance curiosity and social media is an effective platform to showcase our uniqueness. In addition, Social media marketing will allow us to easily and effectively promote our business beyond Mowe axis to other parts of the state and by extension, Lagos.
Expected profit
All things being equal, we should generate a profit of 8 million from various services provided in the first year with at least a 30% increase in subsequent years.
Management experience
Our management team has technical and practical experience in the beauty industry and certifications in business management. Therefore, we are capable of handling other arms of the business effectively: viewing and gaming.
Why you should invest in Barbing Salon Business Plan in Nigeria.
The beauty industry will ever remain one of the most profitable industries in Nigeria. With almost half of the population made up of youths who obviously are appearance conscious. You can be certain of making a good profit if you venture or invest in a business such as barbing. Moreover, a barbing salon is not limited to hair cut but involves a variety of beauty services.
In addition, FEGEOSTOM intends to extend her services beyond the salon by including fun and entertainment which will serve as complimentary profit sources. With our competence and strive for excellence, you can be certain about having good returns if you partner with us.
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Our Barbing Salon Business Plan in Nigeria is well documented and can also be used for, but not limited to:
Purpose | Description |
---|---|
1. Grant Applications | Seeking financial support from grants |
2. Bank Loans | Securing loans from financial institutions |
3. Proposal Writing | Crafting business proposals |
4. Business Concept Note | Outlining the core concept of the business |
5. Competitions | Participating in business competitions |
6. Investor Presentations | Pitching the business to potential investors |
7. Strategic Planning | Developing long-term business strategies |
8. Marketing Initiatives | Planning and executing marketing campaigns |
9. Regulatory Compliance | Ensuring adherence to legal regulations |
10. Expansion Strategies | Planning for business growth and expansion |
11. Partnership Proposals | Proposing collaborations with other businesses |
12. Research and Development | Conducting R&D activities |
13. Employee Training | Training employees on various aspects of the business |
14. Stakeholder Communication | Communicating with stakeholders |
15. Sustainability Initiatives | Implementing eco-friendly practices |
16. Industry Analysis | Analyzing the industry trends and dynamics |
17. Market Research | Gathering data on market trends and consumer behavior |
And More | Additional uses beyond those listed above |
The Barbing Salon Business Plan in Nigeria is beneficial because
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Barbing Salon Business – Barbing salon business in Nigeria is as old as man, although the technique employed at different time weren’t the same, however, it was the same results.
There was a time bottles were used to cut hair, there was a time razor blades were used, there was the time of stainless clippers, these days we have the sophisticated clippers which could be used to cave different designs on the hair, some clippers can even be used to write, ever seen inscription on the head of a individual after a haircut ?
That’s the work of a special clipper used to inscribe that. The barbing salon has become an industry and the good thing about it is that it has been growing rapidly. I could remember back in those days the barbers jobs were underrated, and the assumption then was that barbers or the barbing job was not a serious job that requires special qualification, things has continued to change and a different perspective is been developed about barbing business especially in Nigeria.
When people started to request for special barbers and extra fee was been paid for home services, people began to take barbing job serious. I had a friend who was like any other barber out there, he has one of the best barbing salon in town, equipped with all the barbing salon tools, he had a top notch barbing salon design with some of the best pictures, he was on his normal job until a former customer became a commission in the state and then eventually became the governor, he was made the official governors barbers, and of cause you know that there are huge incentives that comes with that.
Note that before the governor’s appointment he was already doing fine with about two staff who also barb with him. The truth is that barbing salon business in Nigeria has become a big deal, barbing is no longer the way it used to be hence the huge investment you see people make whenever they want to start a new barbing salon. Some of the queries I have been getting the past few days has been on how to start salon business in Nigeria, or the best barbing salon tools, someone even asked the best barbing salon price list.
These and more are the things we will be looking at on this post, we will also discuss how profitable barbing salon business is in Nigeria and maybe other questions pertaining barbing salon business in Nigeria .
How To Start Barbing Salon Business In Nigeria
Barbing business is one business that doesn’t require much capital especially when you have all your equipment in place. However, you will need a little cash to get your needed equipment to be able to set up a mobile barbing salon especially when you do not have the huge capital to set up a standard barbing salon, most people choose the mobile barbing salon in order to help them raise the desired capital that will help them set up a standard barbing saloon. I have decided to make a list of factors you should put into consideration while making your plans of setting up a barbing salon in Nigeria, see below;
Capital – There is no business that does not require that you have your capital in place before going ahead with the set up, I talked about raising your capital before commencing the setting up of your business, there are many ways an entrepreneur can raise capital for their businesses, for those with a barbing salon business plan, you could use to apply for bank loan, grant etc for fund which could be put into use for the establishment of your barbing salon, you can use the method I suggested earlier, and that is choosing to go into mobile barbing salon business. In all you need to have a capital to at least begin your business.
Business Plan – A business plan is important in this respect, the reason being that you will be spending a whole lot of money, no matter how little you will be spending in the setting up of your business, you do not want to waste your money, hence the need to get a business plan that will help you execute your agenda perfectly. There are ways you could get a barbing saloon business plan in Nigeria, you could buy from us, ours is a well written barbing salon business plan , it has all the required financial projection, you could as well get an expert to write a new one for you.
Choose A Name And Register – For people to take your business serious, you need to have a business name that is registered by the corporate affairs commission, the idea is to give the business an identity, virtually every barbing salon in town has a name, in Enugu one of the most popular is known as “Black and White” located at the Enugu mall, in Abakaliki those days we had a popular barbing salon known as “Bus Stop”.. The truth is that, these name makes it easy to differentiate.
Location – Location in setting up a salon is very important, when “Bus Stop” barbing salon was functional, it was located on a major road, it was easy to locate and you could even describe the location for anyone and anybody can easily locate where the barbing salon shop was located, this contributed to the reason why it was very popular, “Black and White” barbing salon was well known because it was situated at Enugu mall, they entertain nothing less than 100 customers on a daily, great location is definitely good for business.
Know The Job – You could actually set up a barbing salon without knowing how to barb, I have seen a guy who succeeded this way, however, you need to know the job, you need to have experienced barbers in your shop who are able to keep up with the competition involved. I know of one Ugo who started a barbers shop, he employed about three (3) good barbers. One thing he never failed to do was constant supervision, this enabled him to stay in business.
How Profitable Is Barbing Salon In Nigeria?
Barbing has always been a big business irrespective of the time the business was conducted. One good thing about barbing business is that it is never seasonal, people will always want to have a haircut, irrespective of the Nigerian economic condition people will still want to have a haircut, and also note that haircut is not restricted to any gender, both male and female cut their hair, it is even fashionable to have ladies cut their hair.
The customer base is great, so also is the competition, doing the right thing gives you an edge in making the best out of your barbing business. The price list of barbers tells more on how much a barber earns, there are places where a normal haircut costs N250, N500 or even N1000. We remember when it was rumored that T.Billz, Tiwa Savage husband barbs his hair for N5000. The different price only reveals that price for haircut is relative. This is also applicable to special services like home services, Imagine charging N1,500 for home service and you have two home service jobs every day, at the end of the week you will be smiling home with N21,000 every week and N84,000 in a month, this is minus the regular haircut you have, which can be priced at N250, N500, N1000 as the case may be. When you calculate how much you earn on 20 daily haircut, it goes to show that you will make a whole lot in the business.
The Best Barbing Salon Tools
Some of the best barbing salon equipment are listed below;
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Business Plan
by BusinessPlan 21 Comments
Barbing salon business plan in Nigeria – The Hair barbing salon business remains one of the rapidly growing industries in Nigeria today. To some people, this venture is for the 3 rd class citizens therefore, not a serious money making business. Are you one of those who assume that barbers are low income earners? You are very wrong! Let me take a little of your time to show you the profits you can make if you will own and run a barber shop today.
One day, I was having an “at home service” haircut. This conversation ensued between my barber and I:
Me : Bros, do you really make money as a barber?
Barber : ( smiles like there’s something he knows that I don’t know. Keeps quiet for a while and then responds with a question of his own ) Do you know why I love this business?
Me : No! Please tell me
Barber : ( smiles again ) this business is not seasonal. Everyone’s hair will always grow. No matter how the economy is, people need their hair cut and since it’s not something most people can do for themselves, they will always need my services.
Me : (what he said was true so I probed more) if you are implying that you make good money, Ok, so like how much do you make every day from this business?
Barber : ( smiles again) I give a minimum of 20 haircuts each day on regular days. By regular days, I mean from Monday to Thursday. Then from Friday to Sunday, I give about 30 haircuts on each of these days, we call those our peak days. I also have 11 VIP customers who I give “Home Service”. I give all of my VIP clients a haircut once week at the rate of N1500 .
Me : (Am Shocked! Quietly, I pick up my phone, go to the “calculator” app and do the following calculation as a feasibility study on barbing saloon earning potential :
Normal haircut cost: N250
VIP/ Home Service cost: N1500
Regular days: Monday – Thursday (20haircuts each day)
Peek days: Friday – Sunday (30 haircuts each day)
To give a minimum of 20 haircuts each day on regular days: N250 X 20 = N5000
Total haircuts for regular days (i.e. Mon, Tues, Wed and Thurs.): N5000 X 4days = N20, 000
To give a minimum of 30 haircuts each day on Peek days (i.e. Fri, Sat, Sun): 30haircuts X N250 = N7500
Total haircuts for Peek days: N7500 X 3days = N 22,500
VIP/Home Service a week = N1500 X 11 Persons = N16, 500
Therefore, the total amount made in a week: N20, 000 + N 22,500 + N16, 500 = N59, 000
Estimated Total for the month = N59, 000 X 4weeks = N236, 000.00
Let me ask you again, do you think that owning a barbing salon business is really profitable? Your guess is as good as mine. However, I asked my barber on more question
Me : So why are entrepreneurs overlooking this business that is capable of making them good money?
Barber : Because it looks dirty and doesn’t blow whistle! People naturally like businesses that make lots of noises even if they don’t bring in as much money as the noise they make.
How to Start a Barbing Business in Nigeria
When you are planning on setting up a profitable barbing salon business in Nigeria, you should put the following factors into consideration.
So take some time off and learn what the business demands. Learn different styles in vogue, hair treatment, health and beauty tips and customer care. Don’t be in a hurry to become a barbing salon owner. Go through training first, even if you won’t be the actual person giving the haircuts in your business! There are many shops out there that will be more than willing to teach you at cheap rate. The internet is also a good resource place.
With these items in place, you can start your barbing salon and expand as you begin to make profit.
How to Make Your Clients Stay!
Keep your clients satisfied – It is important that your business create and maintain the desirable reputation as a quality hair and salon operation.
Get your own barbing salon business plan in Nigeria here. This business plan can be used to apply for bank loan, seek out investors and be used for business plan competitions.
To place order for your sample barbing salon business plan in Nigeria, Pay N10,000 to:
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After payment, text your full name, email address and title (hair salon business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
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Thank you so much
Thank you very much
So impressed with your plans. Am a barber, cameroonian and based in Cameroon. Need to learn more skills from But don’t know how can be possible
God bless u richly for the eye opener….i think av learn n ready to make money….its my long time dream..i love barbing.
Wonderful Write Up From A Wonderful CEO…..
Success All The Way
Thanks in a million. I already have a barbing saloon but I don’t know how to barb. I base in Nigeria, I’ll like to learn, do u have any branch here in Nig? How long dose it take to learn? Once again, I appreciate ur lecture.
Follow me on intragram @og_blackbarber
same for my brother
Like how much can someone use in opening a barbing salon?
At least 150k
pls, can i get a good barber from u ? professional
Call me with this line if u need my services on barbing. My name is Edeike Enoch Prince but u can call me E.E PRINCE. Thanks
This is impactful .pls where can I get the price of necessary tools for barbing in Lagos .thanks so much .
wow I am really bless with this piece. thanks for the education.
managing one (shop) in Kaduna although in a village.
Very proud of my self bein a barber/stylist. Am located in bauchi state. For mor gist,u can me on 08066574066@Coolcut.
Thanks alot!
Thanks so much
Awesome post, I’m considering opening one soon.
God bless you richly, for taking out time to educate others… Am grateful
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Barbershop Business Plan Template & PDF Example. Creating a comprehensive business plan is crucial for launching and running a successful barbershop. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your salon's identity, navigate the competitive market, and secure funding ...
Learn how to start a hair and beauty salon business with this free sample plan. Download the PDF and get tips from industry experts.
The Total Fee for Registering the Business in Florida - $750. Legal expenses for obtaining licenses and permits - $1,500. Marketing promotion expenses for the grand opening of our barbing salon in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of - $3,580.
This article provides a comprehensive guide to creating a successful barbershop business plan. Get a free PDF example to help you draft a plan for your own barbershop business.
Barber shop business plan template + PDF In this article, you will find an exemplary business plan for barber shop, offering a detailed framework to guide you through establishing and managing your own barber shop. It's crucial to understand that while all names and numbers in this barber shop business plan template are invented for illustrative purposes, they can be adjusted to suit the ...
Get your barbershop business off to a smooth start with our free salon plan example! Discover expert tips, essential strategies, and a ready-to-use template to craft a winning plan that sets you up for success. Perfect for aspiring barbers and entrepreneurs. Download now and take the first step towards your dream barbershop!
Business Overview. John & Sons (J&S) Barbing Salon is a standard and licensed barbing salon that will be located in a richly populated neighborhood in West Palm Beach, Florida - United States of America. We chose to open our barbing salon in this city because of the need for the services of a standard barbing salon in the neighborhood.
Tips you need to create the perfect barber shop business plan. A guide to everything you need to know and a barbershop business plan template in the end!
Ready to launch your own barber shop business? Our comprehensive business plan template has everything you need to succeed.
Explore a real-world men's salon business plan example and download a free template with this information to start writing your own business plan.
Learn how to create a hair salon business plan with our guide, including key sections and a downloadable PDF template for reference.
The business plan for a barbing salon will differ from the usual business plans. So, it's a good idea to look at some samples of a barbershop business plan pdf.
What Is a Barber Shop Business Plan? A barber shop is a place where people, especially the men, would go to get a haircut, a hair trim, or have their hair styled. A barber shop business plan is a documented written work detailing the process of how a barber shop goes about achieving its operational, financial, and marketing goals. Business plans oftentimes serve as a roadmap that includes ...
Our beauty salon business plan is designed with clarity and thoroughness, addressing all crucial aspects needed for a comprehensive business plan. It details the salon's operations, strategic approach, market environment, competitive landscape, management team, and financial projections. Executive Summary: Provides a snapshot of your beauty ...
How to start a salon business and the hair & beauty salon business plan - PDF, Word and Excel. Download the salon business plan now!
The Top Tips for Creating Your Barbershop Business Plan. A solid business plan should look like a step-by-step guide that will direct you through each and every stage of starting and managing your business. Your business plan can help you gain new investors, guide you through marketing plans, and even be a road map for your finances.
Put Your Cosmetology and Barbing Expertise to Good Use by Starting a Hair Salon, Nail Salon, or Beauty Salon! Start Planning for It Using Our Free Salon Business Templates on Template.net!
BARBING SALON BUSINESS PLAN IN NIGERIA. Stand-by generator, standard rotatable barber chairs, quality clippers, wall mirrors, cover cloths, cosmetics, air conditioners, standing fan, plasma TV, plastic chairs and satellite. Our current operational cost is about 800,000 naira including goods that are being sold.
The Barbing Salon Business Plan in Nigeria is important because It will assist you in making sound decision in the administration of the commercial enterprise which will make a contribution to the success of the business.
Account No - 0044083736. Once payment is made for the Barbing Salon Business Plan, send the following (i) a valid email address and (ii) your payment details to any of these numbers - 07039768549. Barbing Salon Business Plan In Nigeria Barbing salon feasibility study - barbing salon business in Nigeria is as old as man, although the te.
Barbing Salon Business Plan in Nigeria / Feasibility Study & Manual Barbing salon business plan in Nigeria - The Hair barbing salon business remains one of the rapidly growing industries in Nigeria today. To some people, this venture is for the 3 rd class citizens therefore, not a serious money making business.