This is a sample hair salon business plan that covers
every aspect of the enterprise. Cummings Hair Salon is established as a
partnership company. Owners are Bruce
and Betty white with equal startup of 50% each.
Goals
and Objectives
The husband and wife team are joint managers of the
Salon. The plan includes company overview, product strategy and financials.
Other parameters are vision statement, objectives, mission, and market
analysis.
Vision
and Mission Statement
The company is incorporated as a partnership and owned by
two professionals. The salons theme is contemporary, urban and high tech
driven. We will leverage on quality service, experienced professionals and
effective marketing.
Our desire is to become the number one place in Detroit
for hair products and services. The Detroit area has a huge population of
people under 40. Therefore our target market are men and women ages from 17 to
45.
The salon will offer quality service and products at a
competitive price obtainable in the industry. Cummings Hair Salon is focus on
Hair products and services. We offer a full range of hair products from top
brands that are natural and ecofriendly.
The range would be carefully selected to offer first
class products to customers. We will add a retail station to the hair center to
earn from both services. We expect product retail to earn about 30% of our
income.
To reach customers we will use aggressive marketing
within our immediate locality. The startup company will leverage on popular products.
Betty is a trained cosmetologist while Bruce a qualified hair dresser.
The duo are committed to environmentally friendly
products good customer service. Added advantage is their background in retail
management and accounting. The hair salon offers full hair dressing service,
retail center in a cool relaxation spot.
The major challenges are recruitment of experienced
staff, productivity and retention of customers. We will encourage repeat
patronage through discounts, promotions and competitive pricing.
We will use training, re-training to increase
productivity and leverage on technology. The technology would be a salon
management software for better inventory management and customer data base.
The payroll would be similar with those obtained in the
market. Each partner has 50% of the business and seek another 50% bank loan.
The goal is to provide a community based hair salon
experience. We target women and men in the Detroit area, focus on
environmentally friendly products.
We focus on the customer’s needs, preferences and
desires. The business has two sections the hair salon and hair products retail.
Core
Value
We are committed to professional and personal growth. We
are commented to team objective, goal attainment and effective time management.
We will foster good team players, efficiency and meet specific goals.
Our client service would be exceptional and offer a good
retail experience. We will continue to improve service delivery and added
services. We will use innovation products and services to reach our customer
base.
• Commented
to team objective
• Goal
attainment
• Effective
time management
• Efficiency
• Meet
specific goals
• Offer a
good retail experience
• Good
service delivery
• Stock
innovation products
Company
Overview
The company Cummings Hair Salon is a partnership
business. It offer hair care products and hair care services. The business is
located in Detroit and owned by Bruce White and Betty White husband and wife.
Management
Team
The hair salon provides on-site hair making services and
sells hair care products. We will build a highly professional dedicated
workforce with years of experience.
The hair salon company will have client service
executive, sales executive and stylist. Others are driver, hair dressers,
barbers and cleaner.
• Manager
• Client
service executive
• Sales
executive
• Stylist
• Driver
• Hair
dressers
• Barbers
• Cleaner
Roles
and Responsibilities
The owner is the salon manager who implements the mission
and vision of the company. They manage daily activity, interviews,
administrative and pay salaries. They are responsible for training, recruitment
and funding.
Sales executives structure financial projective,
negotiated fees and evaluates sales. The accountant or cashier prepares
financial reporting, develop budgets and analyzes financial feasibility.
They organize the books, ensure tax compliance and
conduct risk analysis. The service executive answers enquiries and build
customer interest.
SWOT
Analysis
The hair salon business is sales oriented and requires
regular client patronage. Our strength lies in the choice of location,
professional service and local population. We will invest in trained staff,
quality equipment and good customer service.
Others are sales of branded hair care products, effective
marketing, discounts and promotions. The sole proprietor arrangement is our
primary weakness because funding is provided by the owners. The treats are low
patronage, competition, seasonal patronage.
Market
Trend and Target Market
The business is in high demand with good growth
potential. We provide unisex hair services for both men and women.
The target market are corporate clients, private individuals,
college students. Our competitive edge is the quality service and products.
Marketing
Strategy
To grow our customer base we will use effective marketing
strategy. We will print flyers, posters, banners, complementary cards. Others
are signboard in from of salon, word of mouth, direct marketing. We will use
referrals, classified advertisements.
• Flyers
• Posters
• Banners
• Complementary
cards
• Signboard
• Word of
mouth
• Direct
marketing
• Referrals
• Classified
advertisements.
Funding,
Products and Services
The business is funded by the owners Bruce and Betty
White. Products, services are hair coloring, hair products sale, barbing and
skin service. Others are manicure, massage, hair styling, facials, and
merchandizing.
Products
• Hair
coloring
• Hair
products sale
• Barbing
• Skin service
• Manicure
• Massage
• Hair
styling
• Facials
• Merchandizing
Sales
Forecast and Pricing
The sales are based on daily patronage and product sales.
The price strategy is to offer competitive prices obtainable in the market.
Payment options are POS machine, check, bank draft,
mobile money. However most salons accept only cash payments.
Publicity
The company will use radio and television advertisement.
We will promote the business on a website and social media. Others are listing
in local directories, yellow pages, word of mouth.
Expenditure
Expenditure includes business registration, legal fees,
marketing and promotions. Others are purchase of equipment, rent, stationeries,
and inventory.
• Lease
• Legal fees
• Business
registration
• Purchase
of equipment
• Staff
wages
• Inventory
• Marketing
and promotions
Milestone
Milestones are opening a business account, business name
registration. We will apply for business license, tax payer’s identification,
drafting employee’s handbook.
The company will recruit experienced staff, purchase hair
salon care products, build an official website, draft contract documents. We
will open payment platforms, apply for loan, conform to fire and safety
provisions.
• Opening a
business account
• Business
name registration
• Apply for
business license
• Tax
payer’s identification
• Drafting
employee’s handbook
• Recruit
experienced staff
• Purchase
hair salon care products
• Build an
official website
• Draft
contract documents
• Open
payment platforms
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