Q:

What are some tips for creating business plans for beauty salons?

A:

Quick Answer

Tips for creating a business plan for a beauty salon include outlining a clear mission statement for the business that includes how it differs from other salons in the area, a clear definition of the target clientele and realistic projections for operating costs and potential earnings. Also include a marketing plan for promoting the salon with specific tactics and strategies.

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Full Answer

Begin creating a business plan for a salon by determining the types of services it offers and what kind of problems it solves. This may involve conducting extensive research on competitor salons to understand market saturation and how they structure their shops. Researching the competition is also important because it allows the new salon owner to tailor the business to meet any unfulfilled needs and avoid entering into an area that has little room for growth.

For example, if many other salons in the area offer full service hair treatments, but none offer manicure and pedicure sessions on site, build the plan and the salon around this market. The business plan also needs to list the costs of running the salon including rent, utilities, purchasing equipment and hiring employees. It also needs to account for marketing costs, specifically through the creation of a marketing plan. This section of the business plan needs to list specific promotion methods with realistic goals, such as printing flyers to distribute in local newspapers.

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