Business plan for hairdressers

Starting as a hairdresser? Then a good barber shop business plan is indispensable. In a business plan, you describe the plans you have at the start of your new hairdressing business. Https://is.gd/qXUbdR

Consider, for example, the product or service you want to sell, the price of this product or service, and the expectations in terms of turnover and profit. You will also discuss matters such as: what is your target group, and how will you reach it?

What is a business plan?

We also know a business plan under the name business plan or business plan. As a starting hairdresser, you prepare a document in which you discuss your new company's expectations.

Why do I have to prepare a business plan?

First of all, a business strategy is not always compulsory. But it's smart. It tells you of the actions you want to take. This will demonstrate if the ideas are feasible. Is your project viable, is there a demand for it? Are you willing to make money? Both problems worth researching.

What does the business plan say?

We have listed for you what should be included in the business plan:

The entrepreneur

You start by filling in information about you as an entrepreneur. Think about:

Personal information

You begin to describe your data in your business plan. Here you should at least state your name, diplomas, and work experiences.

If it intends to use the business plan for third parties, you can supplement it with your address, date of birth, telephone number, and so on.

Personal motives

What motivates you to start this hair salon? And why? Are you aware of any consequences?

Personal qualities

What are your personal qualities, and what are your pitfalls besides your qualities? Not unimportant to properly illuminate both sides.

How will you use your strengths, and how will you deal with your weaknesses?

The enterprise

You will describe your company in detail.

• What will you call your company?

• Where are you going to establish your company?

• Are there any permits you need to apply for, and if so, which ones?

• Which insurance policies are involved?

• Are there any subsidies, if so which ones?

It is advisable to work with appendices to keep your business plan as transparent as possible. List your insurance policies under each other, but then refer to, for example, Appendix C. In those appendices, you can describe the insurance itself in detail.

The idea

When it is clear what kind of company you have, what your company is called and where it will be located, you can write out your idea. You write down this idea roughly.

• You know where you want to locate your hair salon, but why? What is the reason for that?

• What is your target audience? Is the salon aimed at only women or only men, or can everyone in your salon use your services?

• Do you specialize in certain treatments?

• Can customers walk into your salon spontaneously, or is it by appointment?

• Are you also going to perform your services at people's homes, or are your services only available at your hair salon's location?

You can describe problems that you notice today. Problems that you can anticipate and with which you can distinguish yourself.

The market

• You are going to describe the term'hair salon';

• You investigate the current situation in the country. What are the trends? What are opportunities, but also threats?

• You describe your target audience very specifically.

• You investigate the competition and all hairdressing salons in the area.

• You can then make a SWOT analysis of all the points above that you have examined.

S (strengths) W (weaknesses) O (opportunities) T (threats).

The marketing mix

The marketing mix is ​​a marketing formula that can be used to execute the approach. They are regarded as the 4 Ps: commodity, price, location, promotion, and workers.

• Product: what services do you offer your customers?

• Price: What do people spend on average in your location, how many customers do you expect to bring in, and how much money do you have on it?

• Location: Why do you want your salon at that location?

• Promotion: How do you promote your company?

Financial plan

Perhaps the most important thing about the business plan is the financial picture. It is important for you, but perhaps also for potential investors.

After all, they would like to see a well-described realistic financial plan because they want to know where they invest and whether you can repay the financing in addition to a good entrepreneurial reward

Revenue model

When drawing up a revenue model, you consider how much you want to earn.

• You think about an hourly rate, or in the hair salon's case: you find out how much you ask for a treatment or a product?

• Assume a rate that is at least based on the salary of a top stylist. A hairstylist's salary is lower, but it will also take a hairstylist longer than a top stylist. So this compensates each other. Remember, if your customers are used to a (low) rate, it is very difficult to later increase your rates to the level you need.

• You think about the margin on the products you sell.

Drawing up a 3-year plan

You benefit from making a 3-year plan.

Think about what you want to do in the 1st year.

• Are you going to start your company full-time?

• How many hours are you going to work that year?

• How many hours do you spend on administration?

• How many weeks are you free for holidays or possible illnesses?

Based on all these considerations, you check how much of that time is paid customer contact and calculate how much you can earn.

You can then organize the 2nd year based on your first year. You can think of setting a turnover target where you want to earn a certain percentage more than in the first year. You have to keep in mind that in a year, for example, your brand awareness will increase, so that the turnover increases more easily.

Your 3rd year is a bit more difficult to estimate than your 1st and 2nd year. You have to anticipate what happened in the first and second year.