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

Whether you want to take over or buy a hair salon , your barbershop business plan should provide a number of data that will present your business forecasts. These forecasts are often projected over a three-year period.

Tables to insert

The business plan is mainly used to convince potential financiers (banking establishment, investors) of the viability of a project. Several tables must therefore be included to present the data reflecting the potential of the project in question.

The initial financing plan

Start-up expenses, such as furniture and appliances, etc. would be mentioned in this table. This costs would have to be defined (loan, contribution of the entrepreneur, donations, etc.).

The three-year forecast income statement

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

The initial cash flow plan

Use the first month’s amount of cash to see if the current account is going to develop. Its primary purpose is to plan for the long run.

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

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

A hairdresser cuts her client’s hair

Preliminary studies required

The secret to profitability is preparation. It is really important to perform in-depth research in order to effectively take over a hair salon or to successfully purchase a hair salon. These work with the details in the business plan, not to supplement it.

A market study

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

Recognition in terms of competition

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

A precise identity for an effective strategy

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