hair salon business plan executive summary

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How to Offer an Executive Summary for Hair Salon

Table of Contents

An executive summary is essential for business owners, especially regarding hair salons. It provides an excellent overview of the salon’s goals, objectives, and current market position.

In this blog post, we’ll discuss how to write a compelling executive summary for hair salon that will help you check all the boxes. It’ll help provide important information about your salon while also appealing to potential investors or lenders.

What Is an Executive Summary?

An executive summary is a standard overview of the critical points of your hair salon business plan . It should be in clear and concise language, highlighting your business model’s salient points and objectives.

This can help potential investors or lenders quickly understand the purpose and scope of your salon and its financial needs.

Why Write an Executive Summary?

In today’s competitive market, you should have a professional document outlining the main goals and objectives of your hair salon business plan.

An effective executive summary should attract investors by providing an easy-to-understand snapshot of what makes your proposal unique and profitable. Additionally, it will give potential financiers a sense of how much money is needed to bring your business plan to fruition.

Steps to Writing an Executive Summary for a Hair Salon

To create an executive summary for your hair salon, consider the following steps:

1. Introduce Your Hair Salon’s Business Concept

Start by introducing what type of hair salon you are proposing. And any unique services or methods that make it stand out from other salons in your area.

2. Explain Why You Need Funding

Investing in a hair salon is a big financial commitment. Potential financiers will want to know why they should invest in yours over others. Make sure to clearly explain why the funds are needed and how they will be used to improve the business venture.

3. Outline Key Features

Provide a brief overview of the main features of your proposed hair salon. Overview such as the types of services offered, the target market, and any other unique selling points.

4. Give a Financial Summary

Include a brief overview of expected costs and potential revenue your salon can generate. This will give investors an idea of how profitable the hair salon could be.

5. Provide Contact Information

It is important to give potential investors the contact information for yourself or someone authorized. This is to discuss further details about the business plan and answer any questions they may have.

Tips for Writing an Effective Executive Summary

When writing the executive summary for your hair salon, keep these tips in mind:

• Make sure it is comprehensive yet brief – ideally, no more than a page or two.
• Highlight the key points of your business model and goals.
• Include information about the current market position of the salon and how you plan to differentiate yourself from competitors.
• Explain why you are looking for investors or lenders and what they can expect to gain from investing in your business.
• Give a concise financial plan of the project costs and any potential returns that investors or lenders may expect.

Example of an Executive Summary for Hair Salon

XYZ Hair Salon is an upscale hair salon in downtown Chicago, offering various services, including styling, coloring, and treatments. Our aim is ti give our customers with high-quality services at competitive prices.

We are seeking $50,000 in startup funding for this proposed venture to purchase the necessary equipment and hire qualified staff. This investment will allow us to capitalize on our prime location and established customer base. It is to help become one of the top salons in the city.

Our team consists of experienced stylists from across the country who have been trained in cutting-edge techniques. We offer lots of services for all budgets and hair types, including color treatments and keratin straightening. In addition, we plan to host special events such as product launches and educational classes.

Our salon has a competitive edge over other local businesses in terms of quality and price. We are confident that XYZ Hair Salon can become one of the top salons in Chicago with a suitable investment.

For more information on our proposal, please get in touch with us using the details provided below.

We thank you for your time and consideration.

Kind regards,

XYZ Hair Salon Team

Contact Information:

Email: [email protected]

Phone: (555) 555-5555

Could I Include Potential Plans in My Executive Summary Even If I Am Uncertain About Them Coming to Fruition?

Not at all, your executive summary should consist only of essential details about your salon. In the main part of your business plan, you will be able to explain potential plans.

Can I Make Accurate Financial Projections?

If you want to calculate accurate financial projections, break things down as much as you can. Once you break those data down into smaller, more manageable bits, you will be able to arrive at an accurate financial forecast.

Are There Any Laws Regulating an Executive Summary of Hair Salon?

Laws and regulations vary based on where you live and what type of salon you are opening. Generally, a salon that provides hair services will require different licenses from one that offers facials or massages.

How Do I Get a Distributor?

You would need to obtain products for your salon. Things like chairs, mirrors, washing and drying stations, shampoo, conditioner, pins, and brushes – you will need to contact a distributor. Agents can represent your country and local, wholesale or national distributors.

An executive summary is essential for business owners, especially regarding hair salons. It provides an excellent overview of the salon’s goals and objectives , as well as its current market position.

With a little effort and attention to detail, you’ll create an executive summary that stands out from the competition. It will set your business up for success.

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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How to Write Hair Salon Business Plan

Passionate about hair styling and cutting?

If yes, you might have thought of starting your own hair salon business.

But it takes more than just an artistic talent to give cuts that suit different hair types and styles. It also requires a solid business plan in place to make it thrive, as there are 952,909 hair salons in the US.

Need help getting your plan? Not to worry; we’ll help.

This hair salon business plan will help you get started and guide you every step of the way, from crafting your business idea to evaluating your salon’s financial success.

Ready to begin? Let’s dive right in!

Why you need a business plan for your hair salon

Hair salon business plan is a professional, living document that outlines your business ideas, goals, and strategies to achieve them.

Whether you’re starting a new salon or aiming to expand an existing one, you’ll need a business plan. It serves as a strategic roadmap for your entrepreneurial journey.

Here are several key reasons why having a hair salon business plan is essential:

Clarifies your vision & mission

Once you’ve decided to start or grow your hair salon, writing a business plan helps you think about all the details of your business. It outlines your business concept, vision, mission, and its core values. Also, it enables you and your team to understand your business’s purpose and ensures everyone is aligned.

Attracts investors to raise funding

Investors often request to see your business plan before investing in your business. At that time, a good business plan helps you demonstrate your business strategies, realistic financial forecasts, and potential for success. Also, it shows your idea is viable and convinces them to raise funding.

Helps reach your business goals

A well-thought-out business plan allows you to consider your short-term goals and long-term objectives. It also summarizes the strategies & steps to reach them, as well as how long it will take to achieve those goals. Further, with specific benchmarks and milestones, you can measure progress and keep track of your goals.

Determines your financial needs

A business plan helps you estimate the funding required for your salon. It includes detailed financial projections and clarifies how much money you’ll need to raise and how you’ll use those funds in different areas. This means you can ask for realistic funding needs to grow your business.

Reduces potential risks

While preparing a business plan, you can identify the potential risks and challenges that your salon might face. By knowing these threats earlier, you can develop effective strategies and contingency plans to mitigate them. This ensures your business is safe and improves your chances for success.

Now that you know the importance of having a business plan, let’s explore how to create a successful business plan for your salon.

How to write the perfect hair salon business plan in 8 steps

here is the simple step by step guide on how to write hair salon business plan.

1. Executive Summary

An executive summary is the first and foremost section of a business plan that provides a high-level overview of your hair salon business.

In fact, it might be the only section that potential investors or stakeholders will read and get a better idea of your business, including its concept, core values, objectives, and growth plans.

If your plan summary isn’t interesting or compelling enough, they won’t read it any further. So, ensure you keep this section simple, crisp, yet effective.

While writing an executive summary , consider including the following key elements:

• A quick overview of your salon
• Mission-vision statement

Target market

• Unique product or service offerings
• Marketing strategies
• Financial highlights

Though it is the first section of your salon plan, it’s typically written at the end once all the other sections are drafted. This is so because it summarizes all the most important aspects of your business.

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2. Business description

As you will provide a quick business overview in the executive summary, this section will expand on it and give detailed information about your salon.

So, here, explain your salon concept in detail and give readers a better understanding of your business, including what your hair salon business is all about.

For instance, you may ask yourself a few questions to plan this section:

• Where it’s located & why did you select that place?
• What’s the legal structure (e.g., sole proprietorship, LLC, corporation)?
• When and why did you start the hair salon business?
• Who are the owners or partners?
• What type of hair salon do you operate?
• What business milestones have you achieved till now (if any)?

In addition to that, you may highlight your salon’s short-term goals and long-term objectives that every potential investor or lender needs to know.

3. Market analysis

The market analysis section presents your external business environment. Generally, it involves in-depth research of the specific industry or sector in which your business intends to operate.

This means you’ll need to conduct comprehensive market research and analytical work to start a successful salon venture.

It also helps you get valuable insights into the salon industry, market size & growth potential, target customers, market demand, competitors, and opportunities.

Here are a few essential components that you may include in your market analysis:

Here, you may provide details of the target market you serve or expect to serve. This will help you identify your target customers and create a buyer’s persona, along with the psychographic and demographic details.

Competitive analysis

It’s a very important aspect of market research that helps you identify and analyze all other salon businesses nearby. It will cover direct and indirect competitors, including their strengths & weaknesses, and explain your competitive advantages .

Market trends

As a salon owner, you know that the hair salon industry is dynamic and continuously growing. So, you’ll have to explore the current and emerging trends (technological advancements, adoption of sustainable products, etc.) in the indus try and explain how your business will cope with them.

4. Organization and management

The organization and management section introduces the key personnel responsible for running the salon, including the salon owner, managers, hair stylists, and other staff members.

You may start by describing their roles and responsibilities, educational qualifications, industry experience, and expertise that help you grow your salon.

Then, consider discussing the employee benefits, compensation plans, and business operations, as well as outline the organizational structure, including reporting lines and how decisions will be made.

Furthermore, try to highlight advisory board members (if any) and explain how they can contribute to the salon’s overall success.

If your team is lacking and you’re planning to hire, mention whom you’ll hire and clarify how they will manage day-to-day operations, what type of work experience you’ll need, and how you’ll address training practices.

5. Services and products

As the name suggests, this section illustrates all the different types of services or products your salon will offer to its customers.

For instance, you may include a wide range of services, such as haircuts, styling, coloring, hair treatments, manicures, pedicures, etc. Also, describe each service in detail, along with the pricing plans, techniques used, and expected results.

For easy understanding, you may take the below as a reference to craft your offerings:

Platinum Hair’s Services

1. Haircuts: Classic Haircut

Price: [$40] per session

Description: A timeless haircut tailored to your preferences, ensuring a polished and stylish look.

Specifications: 

• Suitable for: All hair types
• Duration: 45 minutes

2. Coloring Services: Highlights

Price: [$110] per session

Description: Partial or full highlights, to add dimension and brightness to your hair, enhancing its natural beauty.

Specifications:

• Duration: 150 minutes
• Styles Available: Partial, Full, Balayage

If you’re running a hair salon that offers a great selection of products, like, hair care products, skincare items, or beauty accessories), mention them as well.

This will help investors better understand how you plan to satisfy all your customer’s needs & preferences and what value your salon brings to the market.

6. Marketing and sales strategy

Your marketing and sales strategy decides how you plan to draw new customers and retain existing ones for your hair salon.

A well-written sales and marketing plan can help you keep track of the marketing budget and maximize ROI while developing online and offline marketing or external promotional campaigns.

Consider including the below information in this section:

Unique Selling Proposition (USPs)

You may define your unique selling points to distinguish your salon business. For example, consider presenting holistic hair care services, sustainable & environmentally friendly products, and highly skilled stylists.

Online advertising

Using online channels such as social media platforms, email marketing, and professional branding can help you target certain audiences and build trust among them. You may also create visual ads and content to showcase all your offerings.

Partnerships or collaborations

You may partner with local businesses to expand your brand’s visibility and reach a wider audience. This will draw new customers and increase your growth opportunities.

Workshops and events

You may organize workshops or events at your salon and invite the local community to explore your space. Ask them to engage in live demonstrations of hairstyles and treatments. Also, don’t forget to collect their feedback and preferences.

Discounts or rewards

Giving special discounts helps you attract new clients and retain existing ones. So, try to offer discounts to the new consumers or introduce a loyalty program to reward regular clients.

7. Financial projections

A financial plan is the most crucial aspect of the hair salon business plan. It offers a comprehensive overview of your financial projections for the first 3-5 years.

However, the startup financial plan includes several critical statements and reports, such as income statements, cash flow statements, and balance sheets.

For your hair salon financial plan, consider providing detailed financial projections, including sales forecasts, revenue projections , initial startup costs, funding requirements, break-even analysis, or even sensitivity analyses for different scenarios.

This will help you demonstrate the long-term growth and profitability of your salon and allow potential investors or financial backers to make informed decisions.

8. Appendix

In the appendix, you may attach any supporting documents that might complement your business plan.

It includes market research data and surveys, licenses & permits, equipment leases, salon layouts, resumes of executive members, and many more.

In short, you can place additional information or attachments that don’t fit into specific sections, but readers might use them for reference.

Download our free hair salon business plan template

So, prepared to draft a hair salon business plan but need more assistance? Well, here you go; download our hair salon business plan template pdf now and get started.

This expertly crafted template has been designed with hair salon businesses in mind. With step-by-step guidance and examples, this template assists you in developing your own plan.

Import data into your editor and start business plan writing.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Now that you have a detailed hair salon business plan outline, it’s much easier to kickstart your plan writing process.

However, preparing a comprehensive business plan from scratch can be an intimidating and daunting task. But not to worry; Upmetrics could be a great companion here!

It’s a modern business plan software that enables new entrepreneurs and small business owners to create investment-ready plans quickly and efficiently.

From easy-to-follow guides and 400+ business plan examples to financial forecasting software, Upmetrics offers valuable resources to streamline the entire business planning process.

So, wait no longer; start preparing your plan!

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Frequently asked questions, what financial projections are most important for a new salon.

The following are the most important financial projections for a new salon:

• Sales and revenue forecasts
• Profit and loss statement
• Cash flow projections
• Balance sheet
• Initial funding needs
• Break-even analysis
• Loan repayment plan

How often should a hair salon business plan be updated?

It’s necessary to review and update your hair salon business plan regularly, at least once a year, or more often whenever there are significant changes in the business environment or market.

What are the essential elements of a salon business plan?

While writing a comprehensive business plan for your salon, consider including the following essential elements:

• Executive summary
• Business overview
• Market analysis
• Products and service offerings
• Marketing and sales strategy
• Management team
• Operations plan
• Financial projections

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Write the Perfect Salon Business Plan in 6 Steps

Discover how to craft a winning salon business plan in just six steps! Boost your salon's success with expert tips, market analysis, and strategy insights.

No credit card required.

As a salon owner, having a well-thought-out business plan is essential to the success of your business. A salon business plan outlines your business goals, market analysis, marketing strategies, financial projections, and other key details, serving as a roadmap that guides you through the process of starting, running, and growing your salon. In this article, we’ll go over the key elements of a salon business plan and provide tips on how to write the best business plan for salons in 2023.

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How much does it cost to run a salon .

Before you start writing a salon business plan, it’s important to get an idea of the startup and ongoing costs. As we discuss in this article , the costs of starting a salon range from $62,000 for an existing salon to $90,000 for a new operation. With some of the expenses, you’ll incur one-time costs – other expenses will be ongoing such as supplies and inventory. Here are some of the typical costs associated with starting a salon: 

Existing Salon 

When you buy an existing salon, be it a hair salon or nail salon, you save on the costs of buildout, salon equipment , and salon marketing, assuming the salon already has some of these elements in place. Here’s what you can expect to pay for the following:

• Rent deposit: $4,500
• Buyout of current salon: $10,500
• Leasehold improvements: $15,000
• Equipment: $10,000
• Initial supplies: $8,000
• Initial inventory: $4,000
• Certifications and licenses: $4,000
• Marketing: $5,000
• Legal or consulting fees: $1,000

Grand total: $62,000

The upfront costs of building out a brand-new salon, marketing it to local clients, and getting the business up and running will likely exceed those of buying an existing salon. Here are the typical expenses you can expect to incur for a new salon:

• Buyout of current salon: $0
• Leasehold improvements: $35,000
• Equipment: $25,000
• Marketing: $8,000

Grand total: $89,500

You may also want to budget for the following:

• If you need a loan or financing to cover startup costs, expect to pay interest rates of 1.25% to 10%.
• Salon insurance ranges from $50 to $1,000 per month.
• Salon booking software and a point of sale (POS) system range from free to $500 per month. GlossGenius starts at an industry-low $24 per month with low payment processing fees and includes a website, a branded card reader, and other extras.
• A salon website can cost you thousands, but with GlossGenius, it’s included free! Beautiful and customizable, your website is packed with scheduling features and is easy to navigate, helping to increase bookings and future appointments.

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How Profitable Is Owning a Salon?

If you owned a salon during the pandemic, no doubt you experienced your fair share of struggles between lockdowns, closures, and reduced business hours. According to Statista , the U.S. market size of beauty salons dropped from $69 billion in 2019 to $42.3 billion in 2020. Fortunately, things are beginning to look up for hair, skin, nail, and other types of salons, with the market valued at $53.6 billion as of 2022.

You can take advantage of the comeback by approaching your salon startup with a solid plan in place, a realistic budget, and a marketing strategy. A beauty salon business plan can help you identify any questions , opportunities, and potential roadblocks so you can have the best chances of getting funding, earning a return on your investment and achieving profitability. The more you control your expenses and market your business successfully, the more profitable you will be – so be sure to take your time creating a salon business plan for your needs.

6 Steps to Writing a Hair Salon Business Plan

The business plan is the most important document for any salon owner. It’s a formal, written plan that describes the future of your business and how you intend to achieve it. A good business plan will help you stay on track, get funding if you need it, and avoid costly mistakes as you navigate through choppy waters in this industry. 

We know what you’re thinking – that a business plan is a monster of a document that will take a ton of time to create. But, it doesn’t have to be. In fact, you can pare it down to one page and still have an effective, clear document that outlines everything you (and any other interested parties) need to know about your new salon. Below are six steps to writing a salon business plan that will ensure your success.

Here are six steps to creating your salon business plan:

• Create an Executive Summary
• Map Out Your Branding Vision
• Research Your Industry
• Create a Client Acquisition Strategy
• Management and Operations
• Financial Planning

Let's dive deeper into each one.

1. Create an Executive Summary

The executive summary is the first section of your business and management plan and provides a brief overview of your salon business. This section should include your mission statement , business objectives, target market, products and beauty services, and financial projections. It should be concise, engaging, and compelling to grab the attention of potential investors, lenders, or partners. It also serves to clarify your goals so you can come back to them anytime you need a refresher or wish to update this information.

Your executive summary is just that: a summary. This means you do not have to get into every detail in this section; you’ll provide a more complete analysis in the individual sections of your business plan. Here are some key elements to include in the executive summary:

• An opening “hook.” The first sentence or two of your executive summary needs to draw in the reader; otherwise, your business plan might not get the attention it deserves. Grab your audience’s attention by sharing a compelling fact about your company, a memorable story related to your industry, or some other well-crafted description of your business that will make your business plan stand out.
• Summary of your business. Describe what your company does, what services and products you will offer, who will run the company, and other high-level details.
• Market analysis. Briefly describe the market landscape for your own salon to show there is a proven need for your services. Be sure to address who your competitors are, any advantages you have compared with others, and any research you’ve conducted to demonstrate there is a demand for your services in the area. 
• Products and services. Highlight the specific services your salon will offer, any products you will sell, and any other information showing that your salon will fill the need you’ve described in your market analysis summary – and how you’ll do it better than the competition.
• Financial information and projections. Give your reader an overview of your business financials, including any current sales and profits, the funding amount you’re looking to acquire or any funding you already have, and your projections for growth.
• Future plans. Tell your reader exactly how you plan to use any funds you acquire and how their investment could pay off. Imagine where you want your business to be in a year, five years, and so on. Make it clear how funding will help you get there.

2. Map Out Your Branding Vision

Branding isn’t just about creating a unique identity for your business; it’s also about helping people connect with that identity and remember your name anytime they need your services. Branding helps both current clients and new customers recognize who you are and why they would want to seek out your salon. In your business plan, be sure to map out your branding vision by including:

• A description of your salon business. Describe who you are and what you do.
• Your mission and vision statement. Briefly summarize why your salon should exist, its primary objective, and how you plan to achieve your goals.
• An overview of your products and services, your pricing strategy, and any unique features or benefits that differentiate your salon from others in the market. Discuss the specific services you will offer and their price points, plus any product lines you will carry, such as hair care products, makeup, or skincare.
• A description of the target audience and customer demographics. Include relevant research on your market and the people who will buy what you’re offering.

3. Research Your Industry

This section should include a market analysis that provides an in-depth look at the salon industry, including trends, customer demographics, competition, and opportunities. It should also identify your target market and describe how you plan to reach them. This section should demonstrate your knowledge of the market and your ability to capitalize on it, with details on:

• The industry and trends. Provide an overview of the salon industry with relevant statistics, especially those that pertain to your area of expertise and geographic location.
• Your competition. Conduct a competitive analysis to gain insights into your competition, their marketing strategies, and the services and products they offer. The goal is to show how you will capture market share using stronger business strategies that set you apart from your competitors.
• Market segmentation. With market segmentation , you break down a larger target market into a smaller group of customers you plan to serve. Demographics such as age and income, geographic location, lifestyles or psychographics, and behavioral factors like price sensitivity or product loyalty are just a few approaches to market segmentation that you can consider for your business plan.
• SWOT analysis. The SWOT analysis is a way to assess your strengths, weaknesses, opportunities, and threats. It's an effective method for identifying your business strengths and weaknesses as well as external factors that may affect the success of your salon business.

4. Create a Client Acquisition Strategy

The client acquisition section of your salon business plan should describe how you plan to attract and retain customers as a hairstylist . It should outline your advertising and promotional strategies, such as social media marketing , SMS marketing , email marketing, and referral programs. This section should also discuss your sales strategy, including how you plan to increase sales and generate revenue.

• Description of marketing channels and tactics . Outline the different channels you will use to generate leads, such as social media, blog articles, emails, and text messages. 
• Sales forecasting and projections. Discuss how you will convert leads into clients, nurture them through the pipeline, and retain a loyal clientele. Include a realistic estimate of the quantity of goods and services you can sell within the forecast period (for example, monthly, quarterly, and annually). For a salon business, it’s helpful to determine the customer lifetime value of your typical client as well as the customer acquisition cost. You can then break down this number for the forecast period to determine the costs and sales projections.
• Customer acquisition and retention strategies. Include which strategies you will use and the associated costs, such as pay-per-click (PPC), search engine optimization (SEO), and paid ads on social media. Describe how you will retain customers – for example, through loyalty programs and responses to feedback and reviews on social media and Google. ‍
• Pricing strategy. It’s critical that you price your services and products competitively to drive revenue and profits. Detail the pricing strategy you plan to implement based on your buyer persona and competitive analysis. The strategy could be based on a variety of factors, but geographic location and local competition will likely be the biggest factors dictating your salon pricing strategy.

5. Management and Operations

The management and staffing section of your salon business plan should describe the organizational structure of your salon, including the roles and responsibilities of each staff member. It should also discuss your hiring and training practices, employee benefits , and compensation plans. This section should demonstrate your ability to attract and retain a skilled and motivated team, with information on your:

• Organizational structure. Spell out who runs the show and who reports to whom.
• Management team and staff. If you plan to hire a manager , look for someone who has experience in the industry and understands what it takes to run a salon. This person should also have good people skills and be able to work well with others.
• Business operations and processes. Consider which other support personnel you will need, such as an accountant and a dedicated marketing specialist. Don’t be a hero; you can’t do it all alone. ‍
• Legal and regulatory requirements. Include information on any legal advice you will employ to stay compliant with local, state, and federal guidelines.

Note that with GlossGenius, you can manage your team and collaborate with them to make your operations run more smoothly. Our software helps you delegate, mentor, and partner with others based on customizable permissions that let you grant as much or as little access as you wish. Easily manage your scheduling, booking, commissions, and reporting from one intuitive dashboard.

6. Financial Planning

Financial planning is a crucial section to include in any salon business plan. A cash flow forecast shows the anticipated amount of money coming into the business, as well as what you will spend on expenses. It also projects growth over time, which allows you to make predictions about future revenue and expenses so that you can better plan for them in advance.

The best way to get started with your financial projections is by creating an income statement (also called a profit and loss statement), which breaks down all income sources by category (e.g., retail sales and commissions), along with their associated costs (e.g., salaries). This will help provide insight into where your profits are coming from as well as areas where they could improve. Here are some key areas to cover in your salon business and marketing plan:

• Revenue and expense projections. Your revenue projections should consider the number of clients you expect to serve, as well as the average price per service. Your expense projections should reflect all costs associated with running your salon, such as utilities, rent, and supplies.
• Capital requirements and funding sources. Detail how much money you need to start and run your small business, including all costs associated with opening the salon. Describe the funding sources that you intend to use for starting your salon business, whether from personal funds, salon loans , or investors.
• Break-even analysis and profitability projections. A break-even analysis is a financial tool that shows how much revenue you need in order to cover your fixed costs (rent, utilities, etc.) and variable costs (such as salons supplies and staff wages). Profitability projections show how much profit you expect from your salon business for each year of operation. This is based on your estimates of revenue and expenses. You can use this information when seeking funding from investors or lenders.
• Financial ratios and metrics. A financial ratio is a measurement of the relationship between two numbers, usually expressed as a percentage or a fraction. For example, the working capital ratio compares your current assets to liabilities; this metric allows you to measure liquidity. Include the appropriate ratios and metrics in your business to demonstrate your company’s financial health.

A well-written salon business plan is essential for the success of your business. It provides a roadmap for achieving your business goals, attracting investors, and securing funding. By following the tips outlined in this article, you can write the best business plan for your salon and ensure your salon’s success!

As you’re creating your salon business plan, remember to start your free trial with GlossGenius and give yourself the best chances for success. From salon management to payment processing, we’ve got your new salon covered – making it easier to get up and running sooner rather than later.

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Beauty Salon Business Plan Template & PDF Example

• July 22, 2024
• Business Plan

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.

• Executive Summary : Provides a snapshot of your beauty salon’s business, market environment, management, and financial overview.
• Salon & Location : Describes the beauty salon’s ambiance, equipment, and unique features.
• Treatments & Pricing : Details the types of beauty treatments and services offered, along with pricing.
• Key Stats : Includes industry size , growth rates, and significant statistics relevant to the beauty salon sector.
• Key Trends : Highlights current market trends affecting the beauty industry (customer preferences, technological advancements, etc.).
• Key Competitors : Analyzes main competitors in the area and your salon’s competitive edge.
• SWOT : Analyzes strengths, weaknesses, opportunities, and threats.
• Marketing Plan : Describes promotional strategies to draw in and keep clients.
• Timeline : Lays out key milestones and objectives from launch to expansion, covering at least the first 12 months.
• Management : Introduces the team behind the salon, detailing their roles and contributions to the salon’s success.
• Financial Plan : Projects the salon’s 5-year financial performance, including expected revenue and expenses, and outlines funding expectations.

Beauty Salon Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

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.

Beauty Salon Business Plan Executive Summary Example

Business Overview

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.

Market Overview

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.

Management Team

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.

Financial Plan

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:

Salon & Location

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.

Treatments & Pricing

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.

Industry Size & Growth

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.

Key Market Trends

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.

Competitive Landscape

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.

Identifying Your Beauty Salon’s Competitors

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.

Beauty Salon Competitors’ Strategies

Analyzing competitors’ strategies encompasses various dimensions:

• Service Offerings:  Evaluate the array of services offered by competitors. If “Natural Hair & Wellness” is gaining traction with its emphasis on sustainable beauty practices and holistic treatments, this signals a market inclination towards eco-friendly beauty solutions.
• Technological Advancements:  Consider the technological aspects incorporated by competitors. A salon like “Innovate Beauty Lab,” focusing on cutting-edge beauty tech such as laser treatments or AI-driven skincare analysis, might attract a different clientele compared to a traditional salon offering classic beauty services.
• Pricing Structure:  Compare your salon’s pricing with that of competitors. Are your services priced similarly to mid-range salons or more in line with premium offerings at “Luxury Beauty Haven”?
• Marketing Approaches:  Study how competitors market their services. Do they heavily rely on social media campaigns, influencer collaborations, or do they prioritize loyalty programs and referrals to attract customers?
• Customer Experience:  Assess the in-salon experience. For example, “Serenity Spa & Salon” might be recognized for its tranquil ambiance and personalized attention, contributing to an exceptional customer experience.
• Operational Innovations:  Observe if competitors employ innovative techniques for efficiency and convenience, such as “Effortless Beauty Bar” utilizing appointment apps or self-check-in kiosks.

What’s Your Salon’s Value Proposition?

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).

Marketing Plan

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.

Marketing Channels

These channels are vital for building brand awareness and engaging potential clients.

Digital Marketing

• Leverage Social Media:  Showcase your expertise and salon ambiance on platforms like Instagram, Facebook, and Pinterest. Engage your audience through captivating content and live sessions.
• Email Marketing:  Regular newsletters featuring beauty tips, exclusive offers, and updates can keep your audience engaged and informed.
• Website and SEO : Develop a professional website optimized for local SEO to rank high in search results.

Local Engagement

• Print Media and Flyers : Design eye-catching flyers distributed in local hotspots. Collaborate with local businesses or influencers for joint promotions.
• Community Events : Participate in or host local events to showcase your salon’s services and connect with potential clients.
• Partnerships:  Collaborate with complementary local businesses like hair salons, spas, or bridal shops for joint promotions or package deals, amplifying brand visibility.

Promotional Activities

• Membership Drives : Introduce loyalty clubs offering exclusive benefits to loyal clients, such as early access to new services or VIP appointments. Offer referral bonuses not only to clients but also to staff to encourage team participation.
• Holiday Specials:  Apart from holiday-themed packages, consider extending your holiday promotions beyond discounts. Organize charity events or initiatives, aligning your salon with a social cause to resonate with socially conscious customers.
• Referral Bonuses:  Incentivize existing clients by offering discounts or freebies for referring new customers to your salon.

Sales Channels

In addition to marketing, various sales strategies can enhance customer satisfaction and maximize revenue for a beauty salon.

Upselling and Cross-Selling

• Enhanced Services : Offer add-on treatments or specialized beauty packages for special occasions.
• Retail Products:  Retail beauty products within your salon and educate customers about the benefits of at-home beauty care products.
• Package Deals:  Provide bundled services at reduced prices.

Online Booking and Sales

• Efficient Booking System:  Implement a user-friendly online booking system on your website and social media platforms. Offer incentives for online bookings.
• E-Commerce Integration : Sell beauty products, gift cards, or exclusive salon merchandise through your website.
• Virtual Consultations : Offer online consultations for personalized beauty advice.

Membership and Loyalty Programs

• Membership Options:  Create membership plans offering a range of benefits, such as discounted monthly services or exclusive access to new treatments, encouraging clients to commit to regular visits.
• Loyalty Rewards:  Develop a digital loyalty program rewarding clients for every purchase and encouraging repeat business.

Strategy Timeline

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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Hair Salon Executive Summary Template

• Great for beginners
• Ready-to-use, fully customizable Doc
• Get started in seconds

Running a successful hair salon requires more than just scissors and blow dryers. To attract investors and partners, you need a compelling executive summary that showcases your salon's potential. That's where ClickUp's Hair Salon Executive Summary Template comes in!

This template helps you create a professional and comprehensive executive summary, enabling you to:

• Highlight your salon's unique selling proposition and target market
• Present your financial projections and growth strategies with confidence
• Impress potential investors and lenders with a polished and persuasive summary

Whether you're starting a new salon or looking to expand your existing business, this template will help you craft an executive summary that stands out from the crowd. Take your salon to new heights with ClickUp's Hair Salon Executive Summary Template today!

Benefits of Hair Salon Executive Summary Template

When using the Hair Salon Executive Summary Template, you can reap the following benefits:

• Present a concise and compelling overview of your hair salon business to potential investors, partners, or lenders
• Highlight the unique selling proposition of your salon and differentiate yourself from competitors
• Showcase your target market and demonstrate a clear understanding of your customer base
• Provide a snapshot of your financial projections, including revenue forecasts and profitability
• Save time and effort by utilizing a pre-designed template that ensures a professional and polished executive summary.

Main Elements of Hair Salon Executive Summary Template

ClickUp's Hair Salon Executive Summary template allows salon owners to easily create and manage executive summaries for their business. Here are the main elements of this Doc template:

• Custom Statuses: Track the progress of your executive summaries with custom statuses such as In Progress, Completed, and Pending Approval.
• Custom Fields: Add specific information to your executive summaries using custom fields like Revenue, Expenses, Customer Satisfaction, and Employee Performance, ensuring all the important metrics are captured and analyzed.
• Different Views: Access your executive summaries in various views such as Document View, Table View, and Calendar View, allowing you to visualize your data in different formats and gain valuable insights.

With ClickUp's Hair Salon Executive Summary template, you can easily create professional and comprehensive reports for your hair salon business.

How to Use Executive Summary for Hair Salon

Creating a comprehensive executive summary for your hair salon can be a daunting task, but by following these six steps, you can effectively showcase your salon's strengths and attract potential investors or partners.

1. Introduction and Overview

Start your executive summary by introducing your hair salon and providing a brief overview of your business. Highlight key information such as the salon's name, location, target market, and unique selling proposition. This will give readers a clear understanding of what your salon is all about.

Use a Doc in ClickUp to create a well-structured introduction and overview that captures the essence of your hair salon.

2. Market Analysis

Conduct a thorough market analysis to demonstrate your understanding of the hair salon industry. Include information on market trends, target demographics, competition, and any gaps in the market that your salon can fill. This section will show potential investors that you have done your research and have a solid understanding of the industry.

Utilize the Table view in ClickUp to organize and present your market analysis data in a visually appealing manner.

3. Services and Pricing

Outline the services your hair salon offers and provide pricing information. Highlight any unique or specialty services that set your salon apart from competitors. Be sure to include pricing strategies that demonstrate profitability and value for customers.

Create custom fields in ClickUp to categorize and track your salon's services and pricing information.

4. Marketing and Advertising Strategies

Detail your marketing and advertising strategies to attract and retain clients. Discuss your digital marketing efforts, social media presence, partnerships with local businesses, and any other marketing initiatives that have proven successful. This section will demonstrate your ability to effectively promote your salon and drive customer traffic.

Use Automations in ClickUp to streamline your marketing and advertising efforts and ensure consistent messaging across all platforms.

5. Financial Projections

Present realistic financial projections for your hair salon. Include information on startup costs, monthly expenses, revenue forecasts, and projected profits. This section will give investors a clear picture of the financial health and potential profitability of your salon.

Utilize the Goals feature in ClickUp to set financial targets and track your salon's progress towards achieving them.

6. Conclusion and Call to Action

Wrap up your executive summary by summarizing the key points and highlighting the potential for growth and success. Include a clear call to action, such as inviting potential investors to schedule a meeting or visit your salon for a tour. This section will leave readers with a positive impression and encourage them to take the next steps in exploring a partnership with your salon.

Use the Calendar view in ClickUp to schedule follow-up meetings or salon tours with potential investors.

By following these six steps and leveraging the features of ClickUp, you can create a compelling executive summary for your hair salon that effectively communicates the strengths and potential of your business.

Get Started with ClickUp’s Hair Salon Executive Summary Template

Hair salon owners and managers can use the Hair Salon Executive Summary Template to showcase their business to potential investors, partners, or lenders.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a compelling executive summary:

• Customize the template with your salon's name, logo, and contact information
• Use the Introduction section to provide a brief overview of your salon's vision, mission, and unique selling proposition
• Describe your target market and ideal customer in the Market Analysis section
• Outline your salon's services, pricing, and competitive advantage in the Services and Pricing section
• Provide a summary of your financial projections, including revenue, expenses, and profitability, in the Financial Projections section
• Include any notable achievements, awards, or recognition in the Achievements and Recognition section
• Use the Conclusion to summarize the key highlights and benefits of investing in your salon

Monitor and analyze the engagement and feedback from potential investors or lenders to improve your executive summary and increase your chances of securing funding.

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• February 27th, 2024
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How to Write a Hair Salon Business Plan

Are you thinking about opening your own hair salon? Or maybe you already have a salon and are thinking about opening another location?  

Well, when it comes to opening a new salon business, knowing how to write a hair salon business plan can make or break your success. The good news is—we’re here to help. 

In this article, we’ll go over the ins and outs of creating a hair salon business plan. This includes everything from market analysis and financial projections to your goals for the future. Having a plan will help you obtain funding and stay on track as you grow. 

Let’s get started. 

Do I Really Need to Write a Business Plan for a Hair Salon?  

You wouldn’t drive from San Francisco to Boston without either a GPS or a map, right? So, you shouldn’t run a business without a plan either. 

A hair salon business plan is a roadmap for your beauty business. Whether you have two chairs or 200, it’s essential for your ongoing success. 

In fact, opening or expanding a business has a lot more at stake than a drive across the country. You may have saved or taken out a loan to start your salon. And you likely have employees or contractors who are dependent on your business sense, too. 

A business plan gets you organized when you’re first starting out or opening a new location. Plus, it keeps you on track as you grow. You can reach or exceed your goals, but you must know what they are first. And you need to have a detailed set of strategies to use along the way. 

Let’s go back to our road trip metaphor.  

Suppose you want to get from California to Massachusetts. First, you figure out how many miles or hours the journey will take. Then, you divide that by how many miles or hours you can comfortably drive in a day. That’s how many days it will take. Finally, you plan overnight stops along the way for each of those days to make the drive doable. 

A salon business plan isn’t much different. You probably have goals for things like: 

• How much gross income you want to bring in 
• How much profit you want after overhead and labor 
• Ideal business model structure (e.g., booth rent vs. commission) 
• Services you would like to offer clients 
• Places where you’d like to open additional salons 

Without a specific business plan for how to make them happen, those are just pie-in-the-sky dreams. You need a more granular approach to turn them into a reality. 

For instance, how much money do you need to make each month to reach your desired net profits? If that’s how much you need to make each month, what do you need to make daily, assuming you’re open five days per week? How many chairs do you need to have? At what capacity do you need to operate? 

Not to mention, you’ll almost certainly need a formal business plan if you want to get financing for your salon. Salon equipment and real estate can be quite expensive. A bank may loan you money to get set up, but only if they see you have done your homework first. 

Lenders don’t want to back a business that is more likely to fail than to succeed. And new hair salons have an average success rate of 50% in the first three years of operation. 

That means half of those businesses will fail. Most fail not because of a lack of talent or ambition but because the owner doesn’t know how to properly run a business. You can be the best hairstylist in the world. But if you consider things like business accounting and marketing, you will likely lose more money than you are bringing in every month. 

Do you want to be in the 50% of new salons that thrive? Keep reading to learn the step-by-step method of developing a business plan for your salon. 

RELATED ARTICLE:  

Owning a Hair Salon: Your Launch Guide  

How to Write a Hair Salon Business Plan: Step by Step  

Below you’ll find information on each section commonly included in a business plan. But first, here’s a tip to help you make the most of these categories. 

Use the SMART method for setting goals. What are SMART goals ? They are: 

• Specific – highly detailed, not vague 
• Measurable – able to be quantified with hard numbers and actionable items mapped out to achieve the goal you’ve set 
• Achievable – doable within the framework of your business model 
• Relevant – related to your salon today, not somewhere else or too far in the future 
• Time-bound – tied to specific dates for end goals and milestones 

Any time you set a long-term or short-term goal, ask, “Is it SMART?” If not, dig deeper to get the details you need to make it work. 

Executive Summary  

Think of the executive summary as the introduction to your salon business plan. It gives brief information about: 

• The purpose of your salon and who it will serve 
• Your business objectives (offer something novel, expansion, etc.) 
• How your salon will be different from your competitors 
• Why you think the business will perform well 

For instance, you could talk about how you plan to open a salon in a busy urban area to cater to downtown employees. Your client demographic is primarily white-collar workers aged 25 to 45. 

Your unique selling proposition , or USP, is what makes the salon special. Say it’s that it will offer 20 and 50-minute appointments to fit into standard lunch breaks. Additionally, you’ll have 10-minute appointments for fast services during coffee breaks. 

Customers can get a quick trim on their fringe or ends. Beard and mustache trims are another rapid service you will offer. Everything can be booked and paid for online to streamline the process and get customers in and out in a jiffy. 

Maybe after work hours, your salon will be open for more traditional appointments. And you’ll have more quickie services available for businesspeople going out at night. They can get an updo, blowout, or style refresh before a date. On Fridays, you’ll offer manicure services too. 

In your business plan, you’d want to outline howyour USP will help your salon be successful. For our example, you might say you believe the salon will do well financially because of three factors: 

• The area is currently underserved by hair salons. 
• You are catering to the needs of businesspeople in your locale. 
• You hired an experienced stylist who’s bringing their clients with them. 

You don’t have to get into a ton of detail yet. This is a proverbial bird’s eye view of your business proposition. You could, however, outline a rough roadmap of how you envision your business will start and where you see it going in one year and five years. 

For instance, perhaps you plan to start with one location and 10 chairs. Five years from now, you want to open two additional locations. At that time, you will add new services like brow waxing and makeup consultations. 

You can mention market analysis in this section, too. Market analysis looks at competition and consumer needs in your niche. However, there will be a place later in your business plan to address this in more detail. 

Remember, your executive summary is an investor or lender’s first impression of your salon business. Therefore, you want to make it shine. 

Company Description  

This section goes into detail about the structure of your company. How long have you been in business? Who are the owners and managers? 

You’ll also want to review how many employees or contractors you plan to have. Will they be employed under W2 status, or will they contract as 1099 workers? 

Will hair stylists pay you a fee for the use of a chair? Will your salon take a cut of their fees? How will tipping be structured? 

For example: 

• Our salon is a startup organization that is not yet in business. 
• It is co-owned by two stylists who participate 50-50 in leadership. 
• There will be 10 chairs in total in the salon. 
• Eight contract stylists will be working as 1099 independent contractors. 
• Contract stylists will pay a monthly chair rental fee and a percentage of their billables to the owners. 
• All tips will go to the employed stylists, with a percentage going to a shampoo assistant. 
• Contract stylists make a commission on products sold in the salon. 
• You will also have two paid receptionists who will be W2 employees. 

You will go into more detail about financials in the Services and Pricing section. But this section should give readers an understanding of the basics of your planned salon operations. 

You can also include funding or investing requests in this section. Again, you will have further opportunity to dive into financials later. But touching on what you need to open or expand gets readers primed as they go through the next four sections. 

Market Analysis  

The market analysis section of your business plan is another area where you can wow readers and make your salon stand out. It answers the question, “Why you, and why now?” 

Remember, you don’t want to fit in with all the other salons in the area. Instead, you want yours to be unique . 

Your hair salon might be unique because of its business model, like the hypothetical one described in the executive summary. Or it could be you have a string of well-known stylists. 

Perhaps you offer extra luxury services and product lines. Maybe you offer great prices. It could be the whole vibe of your salon that’s one of a kind. Maybe it’s a retro nod to the ‘70s or a high-tech glimpse into the future. 

You don’t want to pitch your salon with a kitchen sink-style of features. After all, when you appeal to everyone, you really appeal to no one. But you can list several unique attributes that will give you a competitive market edge. 

In this section, you’ll show what the current market is like in your location. How many other salons are within a mile or two? Who do they cater to? Is there a gap you can fill to capture more market share? 

Be realistic. If everyone who comes through your door is on a tight budget, you can’t offer $300 color jobs. You need to match your services to your demographics. 

If you’ve ever sold a real estate property, you’ve done something similar to a business market analysis. You or your agent prepare “comps” or comparables. The comps show how your property is special, while reviewing what the rest of the area has to offer. 

Whether your salon is brand new or you’re opening a new location for your existing salon business, you may need to conduct market research. You can do this on your own or hire a consultant to do it for you. 

The more populated the area in which you operate, the more complicated market research is likely to be. If you’re in a suburb or rural community, there may only be a few hair salons to compete with. 

Don’t forget to include how your USP and ability to fill a need relates to industry trends. Let’s use the example above. There is a current national trend towards more online conveniences for salon customers. So, offering online payments and booking is going to help you stay at the front of the curve. 

Also, employees are feeling busier than ever these days. They struggle with work-life balance. And many are returning to the office after working remotely for several years. 

Your salon leverages this trend as well by providing stress-free quick appointments that fit into work breaks. Workers can get their hair done over their lunch hour and make better use of their personal time after work. 

If you have an existing business that you’re expanding, you can survey your clientele. Maybe you’re going to a second location because it’s underserved. Or perhaps you’re adding more services because that’s what clients want.  

It’s great to be able to give objective data that says there’s a need for your services. 

Hair Salon Industry Trends for Growing Your Salon Business  

Marketing Strategy  

How do you plan to promote your new salon or additional location? That’s the focus of this section of the plan. 

Some common salon marketing methods include: 

• SEO website 
• Social media accounts 
• Paid advertising 
• Loyalty programs 
• Cross-promotion with other businesses 
• Flyers in area office buildings 
• Bulk mailings with coupons 
• Free makeovers 
• Local news editorial coverage 
• Online review platforms 

An SEO (search engine optimized) website is a great place to start promoting your business. You can add other components later. An optimized website is set up to rank higher on search engines like Google and Bing. 

How do you improve a website’s SEO? 

• Use keywords related to your exact services that clients would search for when looking for a hair salon. 
• Be sure to mention your location multiple times on the website, including your state and local landmarks. 
• Add a blog for value-added content with links to authoritative sources. 
• Get your salon mentioned on other websites and in social media mentions. 

This section overlaps with your market analysis. You’ll be using your unique selling proposition to focus marketing campaigns. Every marketing effort is an opportunity to promote what makes your salon stand out. 

Talk about how you plan to cement the two cornerstones of a healthy salon business: 

• Repeat customers who book appointments regularly 
• New customers who keep things fresh and balance natural attrition 

How to Design and Roll Out a Beauty Salon Rewards Program  

Management and Organization  

Here’s where you can go into more detail about your salon’s company structure and staff payment plan. You can include elements like credentials here, particularly if you or a manager have a business background or education. 

Don’t simply list how you plan to pay workers. Explain why this is best for your salon business’s long-term financial health. 

Are you and any other owners taking a salary? What corporate structure are you using (LLC, S corp, etc.)? Your state may determine how you want to set this up.  

Speaking with an accountant can clarify questions for you, especially about taxes. 

Services and Pricing  

This section of your hair salon business plan outlines the meat and potatoes of what your salon will offer. It is essentially a menu of all the services and treatments you provide. It also includes prices for each. 

You can mention why you chose the pricing model you did. For example, if you’re serving affluent clients in a resort area, you can justify charging a little more. Or you might do group pricing because you serve a lot of bridal parties. 

Don’t forget to add any products you plan to sell. Why is carrying these items beneficial to your business? 

Financial Projections  

Financial projections are the nuts and bolts that lenders want to see. They’ll also keep you on the right path as you grow your salon. 

You’ve already outlined your services and pricing. Now, it’s time to do the math and calculate what that means in terms of income. 

Answer these questions first: 

• What do you expect your salon to gross (total income) in a year? 
• What are your overhead expenses (rent/mortgage, staff, utilities, wholesale supplies, etc.)? 
• What portion of your expenses are due to payroll? 
• Do you have to make capital purchases for equipment? Will these be paid with a lump sum, financing, or rental payments? 
• What is the net profit you expect (gross income minus overhead and expenses)? 
• Where do you predict expenses or income will change over the next few years? 

You want to make your business plan financial projections look truly professional. So, break them down into these categories: 

• Sales forecast – total sales expected over the next several years 
• Expenses budget – all the costs you need to operate 
• Profit and loss (P&L) statement – a 12-month summary of revenue versus expenses 
• Cash flow statement – how cash moves in and out of your business, including monthly payments 
• Projected balance sheet – items that aren’t in your P&L, like interest debt, equity, and other factors that affect the net worth of your business 
• Break-even analysis – what you need to earn (at least) to make your expenses and start turning a profit 

A certified public accountant (CPA) can help you put together this part of your business plan for a reasonable fee. It’s well worth it if it helps you obtain investors or bank funding. 

How You Can Start Writing a Hair Salon Business Plan Right Now  

Ready to get started on your hair salon business plan today? Use these tips right away to make it both convincing to lenders and helpful as an internal roadmap: 

• Write a mission statement. To write a solid executive summary, it’s helpful to first compose a mission statement. This delves into why you want to open your business in the first place. Some people include this in their executive summary. Others keep it private and use it as an inspirational jumping-off point. 
• Include milestones in your financial projections. These are points where you will examine progress and see if you’re on target. Be ready to course correct if you’re not hitting your goals. 
• Compile an appendix. It’s a good idea to include an appendix in your business plan with copies of extra materials. This is an ideal place to include photos of your salon, certifications, licenses, and financial documents. It will keep everything organized for you and make you look more professional to lenders. 
• Enlist help. If you have questions about certain sections of your salon business plan, consider consulting with the appropriate professionals. Paying a one-time fee to an attorney or CPA can save you money and headaches down the line. You could even consider hiring a business manager to deal with office and financial issues. 
• Research your competition. If you’re not sure what services to offer or how you stand out, do some in-person recon. Visit competitor salons and check out influencers on social media. How can you align with service gaps and trends to make the most of your business? 
• Explore salon management software. Salon management software can save you a lot of time and make your job a lot easier. For instance, you can use it to quickly and easily generate reports to keep a pulse on your performance. It’ll also help you with other tasks related to your financial success. The best salon management software can automate appointments, keep track of inventory, and assist with marketing. 

Learn How to Manage a Hair Salon Business with SalonBiz  

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The Ultimate Guide to Creating a Winning Beauty Salon Business Plan

In today’s competitive beauty industry , starting or expanding a salon without a solid plan is like navigating a maze blindfolded. You might make some progress, but you’ll likely face numerous obstacles, detours, and frustrations along the way.

Without a clear roadmap, you’ll miss crucial opportunities or make costly mistakes that can jeopardize your salon’s success.

Fortunately, there’s a solution: crafting a comprehensive beauty salon business plan. This strategic document not only clarifies your vision and goals but also serves as a powerful tool for executing your strategies effectively and staying on track toward sustainable growth.

In this article, we’ll guide you through the process of creating a winning beauty salon business plan that can set you apart from the competition and position your salon for long-term success.

Why You Need a Beauty Salon Business Plan

A beauty salon business plan is a strategic roadmap that outlines your vision, goals, and actionable steps for starting and growing a successful beauty salon business. This comprehensive document is a strategic tool that can guide your beauty salon toward long-term success. It serves as a blueprint for executing your strategies effectively, making informed decisions, and navigating the challenges and opportunities that arise along your entrepreneurial journey. Having a solid plan is crucial for several reasons:

– Defines Your Vision, Goals, and Unique Selling Proposition:

The process of creating a business plan forces you to crystallize your vision for your salon, articulate your long-term goals, and clearly identify what sets your salon apart from competitors. This clarity helps you define your ideal target market, including client demographics, psychographics, and buying behaviors.

Having a well-defined vision, goals, and unique selling proposition is essential for crafting an effective marketing strategy, delivering a tailored experience that resonates with your target audience, and staying focused on your objectives.

– Analyzes the Competition and Identifies Opportunities:

Conducting a thorough competitor analysis is a key component of your business plan. This process involves researching and analyzing direct and indirect competitors, their strengths, weaknesses, and market positioning. By understanding the competitive landscape, you can uncover opportunities to differentiate your salon and gain a competitive edge.

– Outlines Operations, Financials, and Facilitates Funding:

Your business plan should include detailed operational plans, such as your service delivery processes, staffing strategies, and legal/ regulatory compliance measures. Additionally, it should feature comprehensive financial projections, including start-up costs, ongoing expenses, revenue forecasts, and break-even analyses.

These operational and financial details are not only essential for making informed decisions and ensuring the viability of your salon but also demonstrate your professionalism, market understanding, and potential viability to potential investors or lenders. A well-crafted business plan can increase your chances of securing the necessary capital or funding to launch or grow your beauty salon.

– Guides Growth and Expansion:

As your salon grows and evolves, your beauty salon business plan serves as a roadmap for navigating challenges, seizing opportunities, and implementing strategies for sustainable growth and expansion.

– Measures Progress and Enables Course Correction:

By establishing clear benchmarks and metrics within your business plan, you can effectively track your salon’s progress and make informed decisions about pivoting or adjusting your strategies as needed.

A well-crafted beauty salon or medical spa business plan helps you stay focused, make data-driven decisions, and increase your chances of achieving your goals.

Key Components of a Beauty Salon Business Plan

Creating a comprehensive business plan is no small feat, but breaking it down into key components can make the process more manageable. A well-rounded and effective beauty salon business plan should encompass the following essential elements:

1. Executive Summary

The executive summary is the opening section of your business plan, designed to capture the reader’s attention and provide an enticing overview of your entire concept. Think of it as your elevator pitch – a concise yet compelling snapshot that summarizes the key highlights of your plan.

While this section will be the first component you present, it’s often written last, after you’ve fleshed out the other sections. This allows you to distill the most important and persuasive elements into a punchy, engaging summary.

Key Elements of an Effective Executive Summary:

• Business Overview: Introduce your salon’s name, location, and a high-level description of the services you’ll offer.
• Mission and Vision: Clearly state your salon’s mission – the driving purpose behind your business – and your vision for its future growth and impact.
• Competitive Advantages: What key competitive advantages will help you stand out in the market? This could include your team’s expertise, eco-friendly focus, membership model, specific amenities, or other differentiators.
• Growth and Revenue Potential: Include a teaser of your projected growth trajectory, revenue forecasts, and the overall market opportunity you aim to capture.
• Leadership Team: If you have a strong management team or industry veterans on board, mention their experience and expertise as a competitive advantage.

Remember, the executive summary should be concise, typically no more than one page. Its purpose is to pique the reader’s interest and provide a compelling overview that motivates them to delve deeper into your comprehensive beauty salon business plan.

2. Company Description

This section provides an in-depth overview of your beauty salon, allowing readers to fully understand your business concept, goals, structure, and what makes you unique in the market.

Key Elements of a Company Description:

• Business Structure & Ownership: State whether your salon will operate as a sole proprietorship, partnership, limited liability company (LLC), corporation, or other structure. Outline the ownership details accordingly.
• Company History (if applicable): If you are an existing salon, provide a brief history covering when and why the business was started, key milestones, and any previous ownership.
• Salon Concept & Branding: Clearly describe the overall concept, theme, and branding for your salon. What type of experience and ambiance will clients enjoy? Use descriptive details to paint a vivid picture.
• Services & Product Offerings: Outline the full range of services and product lines you plan to offer. Consider categorizing them into hair care, skin care, nail care, makeup, etc. Highlight any specialties or niche offerings.
• Target Market & Positioning: Reiterate your intended target market segment(s) and how your salon will be positioned to attract those ideal clients. This could relate to factors like price point, service quality, location, etc.
• Legal Structure & Licensing: Note any specific licenses, permits, certifications, or other legal requirements to legally operate your salon.
• Mission, Vision & Values: Share your company’s mission describing its purpose, your vision for its future growth, and core values that shape the business culture.

By the end of this section, readers should have a clear picture of your salon’s identity, market positioning, and exactly what makes it unique and poised for success.

3. Market Analysis

A thorough market analysis is essential for gaining valuable insights into your industry, target customers, and competitors. This research-intensive section explores the landscape you’ll be operating in and identifies both opportunities and potential threats.

Target Market Analysis:

• Define your ideal client demographics (age, gender, income level, location, etc.)
• Describe the psychographic profile (values, interests, lifestyles, behavior patterns)
• Evaluate the market size and growth potential for your target segment
• Identify key drivers and motivations that influence buying decisions
• Uncover any underserved niches or opportunities within your target market

Competitive Analysis:

• Identify your direct and indirect competitors in the area
• Conduct a SWOT analysis of major competitors (strengths, weaknesses, opportunities, threats)
• Analyze competitors’ market positioning, pricing strategies, and unique selling points
• Estimate market share and outline how you plan to capture a portion

Here’s an example of a SWOT analysis table for a beauty salon business:

Industry Analysis:

• Assess the current size and growth projections for the beauty/ personal care industry
• Identify key industry trends and drivers (sustainability, clean beauty, technology, etc.)
• Examine seasonality factors that impact demand for beauty services
• Understand the regulatory landscape and legal requirements to operate compliantly
• Analyze economic factors that could influence the industry positively or negatively
• Identify potential threats from disruptive new technologies or service models

To gather data for your analysis, use a combination of primary research (customer surveys, focus groups, etc.) and secondary research (trade publications, market reports, government data, etc.). Consider including charts, graphs, or other visuals to effectively present your findings.

By thoroughly analyzing your market, competition, and overall industry, you demonstrate a solid understanding of the space you’ll operate in and the viability of your salon concept.

4. Marketing and Sales Strategy

Having a comprehensive marketing and sales strategy is crucial for attracting and retaining clients for your beauty salon. This section outlines your plans for building brand awareness, generating leads, converting prospects into customers, and fostering long-term loyalty. It should include:

Branding and Positioning:

• Brand identity (name, logo, tagline, brand personality)
• Unique value proposition and key differentiators
• Positioning strategy to stand out in the market
• Messaging and visual identity guidelines

Marketing Channels and Tactics:

• Digital marketing plan (website, SEO, social media, influencer marketing, email, etc.)
• Traditional advertising (print, radio, direct mail, etc.)
• Local marketing initiatives (events, partnerships, community outreach)
• Referral and loyalty programs to incentivize word-of-mouth
• Launch marketing activities to build initial awareness

Pricing Strategy:

• Pricing model (e.g., à la carte, packages, memberships)
• Pricing analysis of competitors and perceived value
• How pricing aligns with your target market and positioning
• Opportunities for upselling, cross-selling, or value-added services

Sales and Promotions:

• Lead generation and conversion funnel process
• Special promotions, discounts, or free trial offers
• Client retention strategies (superior service, rewards, education)
• Up-selling and cross-selling opportunities at the point of sale
• Retail merchandising and product promotion tactics

In this section, be sure to include specific metrics you’ll use to measure success, such as website traffic goals, lead generation targets, conversion rates, average ticket size, and client retention rates. With a detailed, multi-pronged approach, you demonstrate how you’ll acquire and keep a loyal client base, helping you craft a winning beauty salon business plan.

5. Operations Plan

An effective operation plan details the systems, processes, and logistics essential for running your beauty salon’s daily activities while ensuring a consistently exceptional client experience. It usually covers:

Physical Location and Facilities:

• Salon address and description of the area demographics
• Square footage and layout design (reception, styling stations, treatment rooms, etc.)
• Any unique amenities or design elements to enhance the client experience
• Compliance with zoning, accessibility, and other regulations

Equipment, Supplies, and Inventory:

• List of essential equipment (chairs, stations, dryers, hot towel cabinets, etc.)
• Beauty products and retail inventory (haircare, skincare, makeup, etc.)
• Suppliers and vendors for managing inventory levels cost-effectively
• Equipment maintenance and replacement plan

Service Delivery Process:

• Appointment booking systems and procedures (You can use a beauty salon software like Yocale )
• Client intake, consultation, and check-in/ out process
• Protocols for different service workflows (hair, nails, facial, etc.)
• Strategies for efficient staff utilization and client throughput
• Systems for ensuring consistent service quality and excellent experiences

Staffing and Training:

• Roles and responsibilities for staff positions
• Recruitment and hiring criteria for new talent
• Comprehensive training programs on technical skills and customer service
• Continuing education opportunities to sharpen skills
• Employee compensation, benefits, and incentives structure

Legal and Regulatory Compliance:

• Required licenses and permits (cosmetology, business operations, etc.)
• Health, safety, and sanitation protocols per industry regulations
• Insurance requirements (liability, etc.)
• Customer privacy and data policies
• Continuing education for staff to maintain licensing

By detailing your operational strategies, you demonstrate a well-thought-out plan for delivering your services seamlessly while prioritizing the client experience.

6. Management and Organization

The management team and organizational structure are critical for executing your salon’s operational strategies and cultivating a positive, productive workplace culture. This section of your beauty salon business plan outlines:

Ownership and Management Team:

• Owner(s) background, relevant experience, and roles
• Bios of other partners, directors, or executive management (if applicable)
• Internal salon management / leadership structure and responsibilities
• Board of advisors or external professionals providing guidance

Staffing Plan:

• Projected staffing needs based on salon size and services
• Job descriptions and responsibilities for each role
• Recruitment and hiring strategy to attract top talent
• Comprehensive training programs for technical and customer service skills
• Employee compensation, benefits, and incentive structure
• Strategies for promoting from within and succession planning

Corporate Culture and Values:

• Core values and principles that shape the company culture
• Vision for cultivating a positive, productive work environment
• Policies and programs that reinforce desired culture (open communication, work-life balance, continuing education, etc.)
• Performance management and employee review processes
• Approaches for resolving conflicts and promoting accountability

Investors and lenders will closely evaluate this section to gauge whether you have a strong, unified leadership team with relevant experience and the ability to build a skilled, motivated team aligned with your company’s values and vision.

By providing thorough details on your management team, staffing strategy, and approach to corporate culture, you demonstrate your salon’s potential for long-term success driven by its people.

Here are some important metrics you can use for measuring your salon performance:

7. Financial Projections

According to the U.S. Small Business Administration, 80% of small businesses survive their first year, but only about 50% make it to the five-year mark. A solid financial plan can increase your chances of long-term success. This plan should include a detailed analysis of your current financial situation, clear long-term monetary goals, and specific strategies to achieve these goals. Key components of a financial plan typically involve:

Start-up Costs and Capital Requirements:

• Estimated leasehold improvements, equipment, furniture, and technology
• Legal and professional fees for licenses, permits, business formation
• Initial marketing and advertising expenses for launch
• Starting inventory and supplies
• Initial hire and training costs
• Working capital buffer for operating expenses before profits

Operating Expense Projections:

• Rent or mortgage payments
• Payroll and employment taxes
• Utilities, insurance, security, and facility maintenance
• Supplies and disposables for service delivery
• Marketing, advertising, and promotional costs
• Professional services (legal, accounting, etc.)
• Loan repayments and interest
• Other overhead expenses

Revenue and Income Projections:

• Service pricing and anticipated demand forecasts
• Client visit estimates and average spend projections
• Retail product sales forecasts
• Projected income statements for 3-5 years
• Cash flow projections showing funds from operations
• Break-even analysis identifying when profits are expected

Funding Requirements and Use of Funds:

• Total funding needed for start-up and initial growth phases
• Existing capital or financing commitments already secured
• Additional equity or debt financing still required
• Detailed breakdown of how funds will be utilized

This section should include concise narrative explanations of your forecasts and assumptions, as well as charts, graphs, and financial statements that clearly depict the numbers. Be sure your projections are well-researched and as accurate as possible, as unrealistic figures could undermine your credibility.

Robust financial projections in your beauty salon business plan instill confidence in potential investors by demonstrating your thorough understanding of costs and your salon’s path to profitability.

8. Risk Management

A comprehensive beauty salon business plan should include a section on risk management. This demonstrates your foresight and preparedness to potential investors or lenders.

Key areas to address include:

• Financial risks : Strategies to manage cash flow fluctuations, unexpected expenses, or economic downturns.
• Operational risks : Plans for equipment failures, supply chain disruptions, or staff shortages.
• Legal and compliance risks : Ensuring all necessary licenses and permits are maintained, and staying compliant with health and safety regulations.
• Market risks : Preparing for changes in consumer preferences, new competitors, or shifts in the beauty industry.
• Reputational risks : Strategies for managing online reviews, handling customer complaints, and maintaining a positive brand image.

By identifying potential risks and outlining mitigation strategies, you show that you’re prepared to navigate challenges and protect your salon’s long-term success.

9. Appendices

The Appendices contain additional information and materials that further validate and reinforce the key details outlined throughout your business plan.

Potential Appendices to Include:

• Professional Resumes/ CVs/ Bios : For all key members of the leadership and management team showcasing relevant experience.
• Licenses, Permits, and Certifications : Copies of any required operational licenses, professional certifications for staff, building permits, etc.
• Market Research Data : Any proprietary market research, consumer surveys, focus group findings, or third-party industry reports referenced.
• Product/ Service Details : Brochures, menus, sample marketing materials, or other marketing collateral detailing your offerings.
• Site Plan and Photos : Architectural renderings, layout designs, and photographs of the proposed salon location.
• Franchise Documentation : For franchised salons, include Franchise Disclosure Documents and agreements.
• Letters of Intent or Partnerships : Formal letters or documentation of any strategic partnerships.
• Leases and Contracts : Copy of property leases, equipment leases, vendor agreements, etc.

The appendices provide an opportunity to expand on information concisely summarized in the main plan, giving readers a deeper level of detail if desired. Be sure to clearly label each appended document for easy reference.

Having a comprehensive set of appendices further validates the legitimacy of your beauty salon business plan and the depth of research and preparation behind it.

How to Write Your Beauty Salon Business Plan

Here’s a suggested step-by-step approach to help you craft an effective and detailed beauty salon business plan:

• Research and Gather Information: Conduct thorough market research, analyze your competition, and collect data on your target audience, industry trends, and financial projections.
• Outline Your Plan: Create a detailed outline that covers all the key components mentioned above. This will help you organize your thoughts and ensure a logical flow.
• Write and Refine: Flesh out each section of your plan, using clear and concise language. Don’t hesitate to seek feedback from mentors, industry experts, or professionals who can provide valuable insights.
• Finalize and Implement: Once you’ve refined your plan, finalize it and use it as a living document to guide your decision-making and track your progress.

Remember, your business plan is not set in stone – it should evolve as your salon grows and adapts to changing market conditions or new opportunities.

Creating a comprehensive beauty salon business plan requires time, effort, and dedication, but it’s an investment that can pay dividends in the long run. By clearly defining your goals, strategies, and financial projections, you’ll be better equipped to navigate the challenges of running a successful salon.

With a solid business plan and the right tools in place, you’ll be well on your way to building a thriving beauty salon that stands out in a competitive market.

To write a salon business plan, start with an executive summary of your mission, services, and goals. Include a company description, market analysis, and details about your management team. Describe your services and pricing, and outline your marketing and sales strategy. If seeking funding, specify your financial needs and projections for the next 3-5 years. Conclude with an appendix for additional documents like resumes and permits. Tailor each section to reflect your salon’s unique vision and objectives.

To succeed in the beauty salon business, focus on providing excellent customer service, offering high-quality services, keeping up with industry trends, and implementing effective marketing strategies. Additionally, manage finances wisely and continuously train your staff to maintain a competitive edge.

A beauty salon can be a good investment if it’s well-managed, located in a high-demand area, and offers quality services. Success depends on factors such as effective marketing, excellent customer service, and keeping up with industry trends.

Starting a beauty business can be challenging due to factors like securing funding, finding a suitable location, and attracting clients. Success requires thorough planning, industry knowledge, effective marketing, and excellent customer service. However, with dedication and the right strategies, these challenges can be overcome.

To create a salon budget, start by estimating initial costs such as rent, equipment, licenses, and renovations. Calculate ongoing operating expenses, including utilities, salaries, inventory, marketing, and insurance. Project your revenue based on service prices and expected client volume. Plan for contingencies by setting aside funds for unexpected expenses. Regularly review and adjust your budget to stay on track and ensure financial stability.

• How to Write a Sales and Marketing Plan, BPlans, https://www.bplans.com/business-planning/how-to-write/marketing-sales/
• How To Run A Successful Salon (The Salon Owner Guide), Trafft, https://trafft.com/how-to-run-a-successful-salon/
• 6 Basic Financial Ratios and What They Reveal, Investopedia, https://www.investopedia.com/financial-edge/0910/6-basic-financial-ratios-and-what-they-tell-you.aspx
• 7 Ultimate Ways to Grow Your Salon Business in 2023, The Salon, business, https://thesalonbusiness.com/how-to-grow-your-salon-business/
• The SWOT of a beauty salon (with examples), Dojobusiness, https://dojobusiness.com/blogs/news/beauty-salon-swot
• How to Write a Market Analysis: a Comprehensive Guide, Sharp Sheets, https://sharpsheets.io/blog/how-to-write-market-analysis/

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Home >> #realtalk Blog >> Manage a business >> How To Write a Salon…

How To Write a Salon Business Plan

By Homebase Team

So you’re thinking of opening a salon business—congrats! Gearing up to owning your own business is a huge step.

But if you’ve never owned a salon before or are simply looking to give your existing business a refresh, you’re probably thinking, “Where do I even start?”  Well, the first step is to write a salon business plan.

What is a business plan for a salon?

A salon business plan is a written document that covers your business goals and how you’re going to reach them.

Every business plan looks different. But for a salon, your business plan will likely include details like who your target customer is, where your salon is going to be located , what salon services you’ll offer, and more. 

Why you need a business plan for your salon

As a salon owner, the thought of writing a detailed business plan might immediately put your stomach in knots. But we promise that the time and effort you take to put a business plan together for your salon will pay off in spades.

Here are some reasons why you should have a business plan for your salon.

To prove your salon business is a good—and profitable—idea

As entrepreneurs, we often have a million great ideas.  But a new business is a big commitment and investment.

Your decision to launch a salon is most likely a great one. But a business plan doubles as a gut check to make sure that you have a solid plan in place. This way, you can open your salon doors with confidence knowing that you’re almost guaranteed to be a success.

To help you reach your short and long-term salon goals

What are your business goals? What steps do you need to take to reach them? How long will it take to reach those goals?

A well-written business plan answers these questions and more. It’s essentially a roadmap that answers all and helps outline how you’ll reach your business goals. Then as you open and grow your business, you can look back and make sure you’re on track!

To help you get funding (and other loans)

Banks and investors often want to see a business plan before they provide you with funding. Having a business plan shows that you’ve done your research, have a plan in place, and that you’re less likely to be a risk.

Even if you don’t need a loan or an investment, financial products like credit cards can be hard to come by if you don’t have a business plan.

To determine your revenue and labor costs

Salons often need multiple stylists and administrative staff. Depending on your goals and the size of your salon business, a business plan can help you determine how many employees you need to hire and train to serve your customers.

Without forecasting your labor costs, you can find yourself with too many customers and not enough workers—or vice versa.

Things to consider before you start writing a business plan for your salon

Before you can start writing your business plan, it’s time to do a bit of brainstorming and research. There are some key questions you’ll want to ask yourself before you start putting pen to paper.

• Where will your salon be located?
• What experience do you have that will help you grow your business?
• Are there similar salons in your area?
• Is there something that will make your business stand out from other salons?

Once you’ve spent some time thinking about these factors, it’s time to get writing.

How to write a salon business plan in 7 steps

Here’s a simple step-by-step breakdown of how to write a business plan and the important tidbits you need to know as you get started.

1. Executive summary

The first thing anyone will read in your business plan is the executive summary. Think of it like an elevator pitch. It’s a brief summary that covers all the most important details so the reader wants to learn more about your business.

As a general rule, your executive summary should cover:

• A short overview of your business venture
• Your salon mission or vision
• Your short and long-term business goals
• Highlights around why \ your salon will be successful

2. Company overview and description

This section should be an overview of your company and what makes it unique. Who are you? What do you do? Why do you do it?

Don’t be afraid to dive into your background and the circumstances that led to you wanting to start your salon business. This is your opportunity to tell your story and share what makes you and your business special as an entrepreneur.                                                                                                                     

3. Market analysis

There are almost a million salons in the US—and that only covers hair salons. The thing about salons is that they can be similar and still be successful. But it’s important to understand how your particular salon will stack up. A market analysis looks at all the competing salons in your region—and beyond—to help you understand your positioning in the market. This then influences everything from your pricing strategy, your service offering, or even your location. 

For example, in your market analysis, you might find that you fall into the category of a premium salon, which means you’ll need to target a more affluent market. Or you might find yourself looking in an oversaturated area, so you’ll want to choose a location with less competition.

4. Salon business offerings

Not all salons are alike. For example, your salon may specialize in blowouts. Or you may have a full-service nail salon. 

Before you open, you should have a clear understanding of the services and products that your salon business might offer. Think of this section of your business plan as a menu of services that your potential customers can choose from.

5. Salon operations and management

This is where you’ll talk about the operational side of your business. Some things to think about around salon management might include:

• Will you rent out chairs to stylists or will you hire them as employees? 
• What will your business hours look like?
• How will you schedule salon appointments ?
• What overhead costs will you have?
• What salon management software will you use?

6. Marketing and public relations (PR) strategies

As much as we wish customers would appear out of thin air, for the most part, you need to drum up excitement for your business. That’s marketing. 

In the marketing section of your business plan, you’ll want to Include details such as your brand messaging, how you’ll reach potential customers, and what marketing and PR investments you plan to make.

7. Financial projections

Calculating your financials isn’t the most glamorous part of owning a salon business, but it’s one of the most important.

When writing a business plan, you need to review your short- and long-term financial projections. This is essentially an estimate of how much money you expect to spend and make over the course of the next few years. 

The goal is to show that you’ll have a profitable business. And if not, it allows you to tweak your business strategy so you can create a financial plan that you feel comfortable with.

Free salon business plan template

Need some help getting started? 

We’ve put together a free template that covers all the basics. Use this as a starting point, so you know that your business plan is comprehensive and includes everything you need ahead of opening day.

Download your free salon business plan template here.

Business tools as sharp as your shearing scissors

Once you have a salon business plan, it’s time to make a plan for hiring and managing your employees. Homebase is the all-in-one employee management tool loved by 100,000 + salons and small businesses. 

With Homebase, you can:

• Schedule employees for your salon in just a few clicks.
• Track employee hours and run payroll from one app.
• Stay on top of employee compliance and labor laws with expert HR guidance.

Salon business plan FAQs

Why should you create a business plan for your salon even if you aren’t looking for financing.

A business plan is more than just a document to help you secure financing for your salon business. It can help you organize your business strategy and outline the steps needed to reach your business goals.

What is the best way to create your salon business plan?

The best way to create your salon business plan is by following these steps:

• Write an effective executive summary.
• Create a company overview and description.
• Conduct a thorough market analysis.
• Outline your services and business offerings.
• Decide how you want to manage your salon business.
• Make a plan for marketing your business.
• Put together your financial projections.

You can also use our free salon business plan template to get started.

Remember:  This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.

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Hair Salon Business Plan Template & Guide

Written by Dave Lavinsky

Hair Salon Business Plan

Over the past 20+ years, we have helped over 5,000 entrepreneurs and salon owners create business plans to start and grow their hair salons. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a hair salon business plan template step-by-step so you can create your plan today.

Download our Ultimate Salon Business Plan Template here >

What is a Hair Salon Business Plan?

A successful salon business plan provides a snapshot of your salon as it stands today, and lays out your growth plan for the next five years. It explains your business objectives and goals as the salon owner and your strategy for reaching them. It also requires you to conduct market research to support your plans. Your business plan is the roadmap to your salon’s success and growth.  

Why Do You Need a Business Plan for a Hair Salon?

If you’re looking to start a salon or grow your existing salon you need a business plan. A successful business plan will help you raise funding, if needed, and plan out the salon’s growth in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.  

Sources of Funding for Hair Salon Owners

With regards to funding, the main sources of funding for a salon business include bank loans and angel investors. With regards to bank loans, lending institutions will want to review your salon business plan and gain confidence that you will be able to repay your business loan payments including interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional business plan. Such a plan will give them the confidence that you can successfully and professionally operate a salon business.

The second most common form of funding for a salon is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan.  

Finish Your Business Plan Today!

How to write a business plan for your salon.

A hair salon business plan outline should include the 10 sections as follows:

Executive Summary

Company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

Your executive summary details an introduction to your salon business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of hair salon you are operating and the status; for example, are you a startup, do you have a hair salon with existing clients and revenues that you would like to grow, or are you operating a chain of hair salons.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the hair salon industry. Discuss the type of hair salon you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your hair salon’s marketing strategies. Identify the key members of your team. And offer an overview of your financial plan.  

In your company description, you will detail the type of hair salon you are operating.

For example, you might operate one of the following types:

• Hair salon focusing strictly on hair cuts and hair styling
• Hair salon offering other spa services or skin care services
• Hair salon offering products
• Combination of the above types

In addition to explaining the type of hair salon you operate, the Company Analysis section of your business plan needs to provide background on your business.

Include answers to question such as:

• When and why did you start your hair salon business?
• What is your business model?
• What is your mission statement?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? A Limited Liability Company? A sole proprietorship? Explain your legal structure here.

In your industry analysis, you need to provide an overview of the hair salon business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the hair salon industry educates you. It helps you understand the market in which you are operating.

Secondly, a thorough market analysis can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards a new type of hair or hair service, it would be helpful to ensure your plan included offering such services.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the hair salon industry research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your hair salon business plan:

• How big is the hair salon business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your hair salon. You can extrapolate such as figure by assessing the size of the market in the entire country and then applying that figure to your local population.

The customer analysis section of your hair salon plan must detail the local clients you serve and/or expect to serve.

The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of hair salon you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing efforts than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most salons primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Your competitive analysis should identify your indirect and direct competitors and then focus on the latter.

Direct competitors are other hair salons in the local community.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes other local businesses that sell products such as hair dye, hair treatments, or styling products. You need to mention such competition to show you understand that not everyone in your target market frequents a hair salon on a regular basis or at all.

With regards to direct competition, you want to detail the other local businesses with which you compete. Most likely, your direct competitors will be hair salons located close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What salon services do they offer?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior hair salon services?
• Will you provide superior hair salon products?
• Will you provide specialized services that your competitors don’t offer?
• Will you make it easier or faster for customers to acquire your products?
• Will you provide exceptional customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a hair salon business plan, your marketing plan should include the following:

In the product section you should reiterate the type of hair salon that you documented in your Company Analysis. Then, detail the specific hair services you will be offering.

Document your pricing strategy and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the service menu you will offer and their prices.

Place refers to the location of your hair salon. Document your location and mention how the location will impact your success. For example, is your hair salon located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of new clients.

Here you will document how you will drive new clients to your location(s) and the loyalty programs you will implement to keep your loyal clientele. The following are some promotional methods you might consider:

• Making your hair salon’s front store extra appealing to attract passing customers
• Developing and marketing your website
• Social media marketing (advertising and organic posts)
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Partnerships with local organizations
• Local radio advertising
• Banner ads at local venues

Also think about your hair salon’s Unique Selling Proposition (USP), which should answer why customers should choose your salon over others. Make sure your USP is reflected in your marketing.  

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your hair salon such as serving customers, inventory management, keeping the hair salon clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new salon.  

To demonstrate your hair salon’s ability to succeed as a business, a strong salon management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the hair salon business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in salons and/or successfully running retail and small businesses.  

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per day or 50? Will your average price point be $50 or $100? How much revenue do you expect to make each year? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your hair salon, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most salon owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 hair salon contract to provide hair salon services to their employees. Let’s assume the contract would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a hair salon:

• Location build-out including design fees, construction, etc.
• Cost of equipment like chairs, washing equipment, etc.
• Payroll or salaries paid to staff
• Business insurance
• Licenses and permits
• Legal expenses

Financial planning is about getting the numbers right to create a compelling and valuable hair salon business plan and, therefore, increases the chances of a successful launch of your new salon. The “right” type of numbers depends on who you are targeting the plan at. Consider the different needs of investors and lenders and what they want out of the financial section of your business plan.

Right for Investors

The numbers that investors want to see are realistic, but conservative, projections that still show a return that they feel is required by the level of risk they will take on by investing and by the opportunities to use their money elsewhere that they will give up (their opportunity risk). You lower the risk that investors feel they are taking on by showing proof of the management team’s experience, well-thought out marketing and operations plans, a quantifiable customer target market with demonstrated needs that the products and services of your salon will fulfill, and a competitive landscape which presents an opportunity for your business to steal some market share from the current players. Within the financial section, you support this lower risk by explaining your future revenue assumptions in a way that shows a gradual build up to profitability and a rationale for how the number of customers you expect is reasonable.

For some businesses, the return required by investors is only fully realized in the event of the sale of the business. However, an investor in a salon with modest dreams of being a local leader and an ongoing concern may show significant investor return through dividends paid out as the cash becomes available. For most investors, the return must be significantly greater than that of a safe investment like certificates of deposit or treasury bonds or mutual funds. Investors personally interested in your success (like family or friends) may not require as high of a annual return, while professional investors will be serious about a high return.

Right for Lenders

Lenders are most interested in the safe return of their principal with interest over time, and will not care so much about the absolute value of the company, beyond the value of its assets which can be seized and liquidated in the case of a loan default. To show lenders the numbers they want to see, the financial plan shows the business becoming cash flow positive relatively quickly to allow for these payments to begin, and for this situation to continue throughout the years after that point. Lenders will be interested in the value of assets that are being purchased (such as equipment, salon inventory, and real estate) and cautious lenders will want these assets to act as collateral and to limit their loan to this amount, unless personal assets are also offered as collateral. Lenders will share many of the same concerns as investors – that the rest of the plan is well-thought out, that financial assumptions are reasonable and conservative, and that the management team has the experience to lead.  

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your hair salon’s design blueprint or location lease.  

Free Business Plan Template for a Hair Salon

You can download our hair salon business plan pdf . Our sample hair salon business plan would also be a helpful resource for writing your own business plan.  

Hair Salon Business Plan Summary

Putting together a business plan for your hair salon will improve your company’s chances of success. The process of developing your plan will help you better understand your local market, your competition, and your customers. You will also gain a marketing strategy to better attract and serve customers, an operations plan to focus your efforts, and financial projections that give you business goals to strive for and keep your company focused.  

Additional Resources for Starting a Hair Salon

• How to Start a Hair Salon Business
• Essential Tips for Opening a Hair Salon
• Do I Need a Cosmetology License to Open a Salon?
• Hair Salons: Facts about Formaldehyde in Hair Products
• What Type of Salon & Spa Should You Open?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how our professional business plan consultants can create your business plan for you.

Other Helpful Free Business Plan Resources

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Hair Salon Business Plan

Start your own hair salon business plan

Cranium Filament Reductions

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

First impressions are everything. A really good haircut is key to making a good impression. Not everyone can afford to spend a few hundred dollars and a few hours to get a good haircut. A lot of families have budget constraints. They need a place to go to get this stuff done. 

Cranium Filament Reductions will stand out by providing superior customer attention. This is particularly important in the "quick salon" space that Cranium operates in because margins are a bit lower and the goal of a quick salon is to crank through customers.

The hair styling industry is highly fragmented with national chains such as Regis Corporation, which operates diverse franchises catering to all the market segments, and also including thousands of "mom and pop" salons that are very restricted in scope and services. This makes for a highly competitive market that has low barriers to entry and exit. In addition, the clients of hair styling have significant leverage due to the low switching costs they have. However, most companies have tried to pursue only one general strategy in gaining market share. Cranium believes that it is possible to offer a differentiated service through improved customer service at no greater significant cost if the right employee incentives are provided.

Competition

The buying patterns of men and women are quite different. Typically men are more price or convenience sensitive. Men typically care less about the task of getting their hair cut. For them whatever is easiest works best. Women on the other hand are more caught up in hair styling and tend to bond more with their stylists. Because they bond more, they are much more loyal to their stylist. Once a stylist has earned their trust they are more willing to blindly put their hair in the stylists hands.

Cranium Filament Reductions’ mission is to provide reasonably priced, convenient hair styling. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers. 

Expectations

This is a service business so it doesn’t generate high profitability. It does generate a good way for its people to make a living. 

Financial Highlights by Year

Financing needed.

The financing needed is $105,000. That includes a $45,000 loan, and owner investment (Susan) of $60,000. 

Problem & Solution

Problem worth solving, our solution.

Cranium Filament Reductions is a hair salon that allows the entire family to have their hair needs satisfied in one convenient visit. 

There are many "quick salons" like Cranium, however, many of these salons, such as Cost Cutters, only provide the minimum services, whereas the upscale salons can be inconvenient due to scheduling requirements and cost. The owner of Cranium perceives an unfulfilled customer need for a low-cost salon that provides maximum flexibility and strong customer attention. Using this strategy, Cranium will gain significant market share and create critical long-term relationships with its clients.

Target Market

Market size & segments.

Cranium Filament Reductions will target each of the three groups separately. The males will be targeted by offering a quick, convenient, service. Because men tend to have shorter hair, they usually require haircuts more often. If they are getting a cut every four weeks and work normal business hours, most barbers are closed when the male customers have free time. Cranium Filament Reductions will cater to males with evening hours, no appointments necessary, and quick turn around times.

Generally females prefer the allure of upscale salons, however, not everyone can afford this luxury. For this reason Cranium Filament Reductions will provide the same quality hair styling, without the expensive price. Cranium will target these customers by emphasizing the sophisticated, ultra-hip styling that Cranium can offer.

Cranium Filament Reductions will also target mothers with children by offering the kids toys to play with while they wait and child-friendly hair stylists. Additionally, children receive a special rate reflecting the fact that children’s hair grows so fast that it can be expensive to keep up with regular cuts, as well as the recognition that it generally takes a lot less time to cut a child’s hair so it should be inherently less expensive.

Current Alternatives

Cranium Filament Reductions’ competitors include:

• Traditional barbers . They rarely serve appointments, it is generally a walk-in service. While barbers are usually willing to provide whatever cut you are interested, they are generally providing straight forward haircuts, typically on the conservative side. The advantages of a barber is they are inexpensive and easy to use. Their disadvantages is often conservative styling capacities, sometimes a long wait as the barber may be an old timer who enjoys to chit chat.
• Franchised "quick salons."   An example of this would be Supercuts or Best Cuts. In essence this is a franchised version of Cranium Filament Reductions. The advantage of this style is the store will be the same from location to location and some people like this predictability. 
• Independent salons . These shops typically focus on a specific niche and do not serve a wide group of customers. The advantages to these could be an independent salon that fulfills all of your needs. The disadvantage is that because they tend to be more focused, more often than not this type of salon will not offer exactly what customers are looking for.

Our Advantages

Cranium Filament Reductions’ competitive edge is based on faultless customer service. Cranium Filament Reductions recognizes that the hair cutting/styling market is crowded so it is difficult to stand out. Cranium Filament Reductions will stand out by providing superior customer attention. This is particularly important in the "quick salon" space that Cranium operates in because margins are a bit lower and the goal of a quick salon is to crank through customers.

Cranium will invest time and money into training to ensure that clients receive the best experience possible making it easier to turn them into long-term customers. By providing superior customer service, Cranium will be able to effectively compete against and outlast larger chains and independent stores.

Keys to Success

Our keys to success are: 

• To create a service-based company whose goal is to exceed customer’s expectations.
• To increase the number of clients served by at least 20% per year through superior performance and word-of-mouth referrals.
• To develop a sustainable start-up business, contributing to increased employment of community residents.

Marketing & Sales

Marketing plan.

Cranium Filament Reductions will market themselves as a hair salon that serves everyone, men, women, and children. This will be done through flyers to be sent out with the local newspaper. Cranium will also have an in-store promotion for the first few months to lure new people in. Lastly, Cranium will offer a discount for a few months to people that refer new customers.  

We intend to be active in social media, with consistent presence, offering tips on style plus information on local events and issues, occasionally humor, social media presence that helps people get to know us, like us, and trust us. 

Cranium Filament Reductions’ sales strategy will be based on extremely professional interactions with the customer. Typically the "quick salons" concentrate on being quick and inexpensive, often at the expense of customer service. Anytime that a prospective customer is speaking with someone at Cranium’s the employee will have an opportunity to impress the customer. Employee training will emphasize seizing these opportunities.

Cranium Filament Reductions will also have the opportunity to increase sales of their retail hair care products every time they have a customer in the chair. Cranium offers deep discounts on the hair care products for employees to encourage usage so they can explain to the customer about their personal experiences. Additionally, Cranium offers a product-based commission structure for the hair care products where they give away the product to the employee for commissions for selling the items to their customers. These personal testimonials and commission structure will allow Cranium to generate good sales from the retail hair care products.

Location and Equipment

This will be a store front with 1500 square feet. There will be: a waiting area with magazines and a display with hair products, a reception desk, 3 hair dressing chairs, 3 washing stations towards the back of the store, one computer and one cash machine. This will be a small space but will have everything that one expects when going into a hair cutting space. 

Milestones & Metrics

Milestones table.

Key Metrics

Our key metrics are:

• The # of customers in a day 
• The # of customers in a month 
• Walk-ins vs clients who called to make a appointment ahead 
• The # of products that are sold to clients or walk-ins every month 
• The money brought in on the most popular stylist vs the least popular stylist 

Ownership & Structure

Cranium Filament Reductions is an Oregon corporation owned entirely by Susan Sever and is located in Shaker Hts., Oregon.

Ms. Sever will be handling all hiring and training, purchasing, and retail sales. She will also hire a receptionist to manage all of the appointments as well as the people who walk in and be responsible for the point of sale transactions. Cranium will also be hiring six part-time hair stylists who will operate on a hourly/commission basis. 

Ms. Sever will be using a partial commission basis to create incentives for superior customer attention. The more her stylists attend to the customer’s needs, the more money they will make off commissions. Cranium will invest time and money into training to ensure that clients receive the best experience possible making it easier to turn them into long-term customers. 

Management Team

Susan Sever received her bachelor’s degree from Miami University in Oxford, OH. While pursuing her degree Susan worked in the restaurant industry. For the four years during school she was a server in an upscale restaurant. While this provided very good income, particularly on the weekends, she longed for management experience.

After graduation she sat down with the owner of the restaurant and presented him with a well reasoned case as to why she should be manager of the establishment. Her main points were her intimate knowledge of the industry and the restaurant, her superior communication skills with the customers and her colleagues, and her ambition to succeed. The owner was surprised by the well-reasoned arguments, enthusiasm, and ambition to take on more work that he promoted her to manager on the spot.

Susan worked as manager for three years, learning all the intricacies of operating a business. These were three rewarding, but long, years. Toward the end, the long hours and work at night took its toll on Susan and she was burned out. When contemplating new opportunities she was brainstorming a  way in which she could combine something she loved with something that she would be the owner of. She loved hair and had the experience of operating a business so after a lot of market research she undertook the task of writing a business plan.  

Personnel Table

Financial Plan investor-ready personnel plan .">

Key assumptions.

Our Key Assumptions: 

– Men would like to have great haircuts and do not mind paying for them 

– Men and women need hair products 

– Our cost for men’s haircuts will be industry standard of 43% and our cost for women’s haircuts, children’s haircuts and products are 27%

– Our friends  and family see the merit of our business and would be happy to give us the cash to run the business. 

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

Cranium Filament Reductions will incur the following start-up costs:

• Computer with point of sale terminal.
• Computer with printer for back office.
• Five cutting stations, each station requires a barber chair, cabinet, large mirror, blow dryer, curling iron, electric razor, several pairs of scissors, spray bottle, two sided mirror, and assorted combs and brushes.
• Desk for reception area.
• Three couches for the reception area.
• Display shelf for sale of retail products.
• Assorted plants.
• Assorted toys for the children.
• Legal fees for business formation and generation/review of contracts.

Please note that the following items that are assets to be used for more than a year will be considered a long-term assets and will be depreciated using the straight-line method accepted by G.A.A.P.

Sources of Funds

Susan will be contributing $60,000. The additional $45,000 will come from a business loan. 

Projected Profit & Loss

Projected Balance Sheet

Projected Cash Flow Statement

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A Comprehensive Guide to Writing a Hair Salon Business Plan

• July 31, 2023
• For Salon Owners

If you’re thinking about starting a hair salon, it’s crucial to have a solid business plan in place. A hair salon business plan will help you make informed decisions and give you a clear roadmap to success. Plus, having a well-researched and detailed plan can help you secure funding from investors and grants.

In this guide, we’ll go over why having a hair salon business plan is so important and give you some tips for creating one that covers all the bases.

What to Keep in Mind Before Writing a Hair Salon Business Plan

When you’re planning to open your hair salon , there are a few important things to keep in mind to make sure everything goes smoothly. To ensure nothing gets forgotten or left out, download our step-by-step guide to opening a salon – you’ll have all the information you need in one place.

The Ultimate Checklist You Need to Open Your Salon

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Now, let’s take a closer look at one of the most important factors to think about when writing your hair salon business plan:

Unlocking success: Uncovering your salon’s Unique Selling Proposition (USP)

Your salon’s unique selling proposition (USP) sets it apart and gives it a competitive edge. It’s the unique element that makes customers choose your salon over others. To identify your USP, ask yourself:

• What unique services or treatments do your salon offer?
• Do you specialize in a specific niche or cater to a particular target market?
• How do you provide an exceptional customer experience?

Boldly highlighting your USP in your hair salon business plan will attract attention and demonstrate your salon’s unique value proposition.

Investing wisely: Researching and budgeting for essential hair salon tools and equipment

Having the right tools and equipment to run a successful hair salon would be the most important. Each item plays a crucial role in delivering quality services.

Furniture: What theme will you have, and what setup do you need to get your salon started?

Business space: Renting vs. buying?

Staff: How many hairdressers do you need, and how much will their salary be?

Booking software: What booking software will you use to help automate the booking process?

Research the market, compare prices, and create a budget for acquiring your tools and equipment. Outlining your hair salon business plan’s estimated costs and specific equipment will showcase your preparedness and financial planning.

The client connection: Building and nurturing a loyal customer base

Keeping your customers happy is key to running a successful hair salon business . You can do this by offering personalized services, loyalty programs, and referral incentives. It’s also important to show your appreciation by giving special discounts and really listening to their needs.

Building trust with your customers is key to keeping them coming back. If you focus on providing exceptional service, you’ll have a loyal customer base in no time!

Beyond aesthetics: Designing a hair salon that blends style and function

When you’re putting together a business plan for your hair salon, remember to include a section about creating a cool and functional space.

The design and layout of your hair salon play a vital role in creating a welcoming and functional space. Consider the salon’s ambiance , layout efficiency , and comfort for clients and staff. You want it to look great, but also be practical for your team to work in and for clients to move around comfortably.

Make sure to cover all the important details and show that you’re prepared and strategic in your planning. And don’t forget to include an executive summary – this part is key for investors and lenders to get a quick overview of your hair salon business.

How to Write a Hair Salon Business Plan?

Every hair salon business plan should always include:

• Executive summary
• Company description
• Market analysis
• Competitor analysis

Operation strategy

• Marketing plan

Staffing and management structure

Financial projections and budgeting, risk analysis and mitigation plan, executive summary of the hair salon business plan.

When you’re putting together a hair salon business plan, it’s a good idea to save your executive summary for the end . That way, you can include all the important details about your business. The executive summary is basically a big-picture overview that you’ll share with potential investors and lenders. You’ll want to include stuff like your goals, strategies for success and growth, financial projections, and an analysis of your competitive advantage. Anything that might catch the eye of a potential funding source should be in there.

For example, did you know that the global beauty market is worth a whopping $511 billion ? And just last year, the Beauty and Personal Care industry brought in $564.40 billion in revenue. Experts think that the industry will keep growing at a rate of 4.76% per year from 2022 to 2026.

When you write your executive summary, it’s really important to show that your ideas are feasible and effective . A well-crafted summary can grab an investor’s attention by showing that you’ve done your homework and that your hair salon has real potential.

It’s also super important to write a great hair salon description. That’s your chance to make a great first impression and really show off what makes your hair salon special. Try to capture the essence of your hair salon in a way that really grabs people’s attention.

Painting a compelling hair salon description

When you’re describing your hair salon, start by giving the reader a feel for the place. Is it cozy and intimate or modern and trendy? Make sure to let them know about all the hair and beauty services you offer, especially any unique treatments or techniques you specialize in.

What makes your hair salon stand out? Maybe you have an amazing team of hair stylists who are passionate about what they do. Or maybe you use eco-friendly products that your clients love. Whatever it is, make sure to highlight those special qualities that make your hair salon one-of-a-kind.

Keep your description short and sweet, but make sure to get your message across . Let your excitement for your salon shine through in every word you write.

Market analysis, target market, and industry trends

Before opening your hair salon, it’s a good idea to figure out what your potential clients are looking for. Take a look at your competition and see what they’re offering – that way, you can find a way to stand out in the local market.

Don’t just think about age and gender when it comes to your target customers; you should also consider their interests and what motivates them . Knowing what makes them tick can help you create marketing messages that really speak to them.

If you’re not sure where to start with market analysis, Coursera has a great article that can give you some helpful tips.

To really set yourself apart from other hair salons in the area, it’s important to do a deep dive into your competition. Find out what they’re doing well and what they could improve on, and use that information to make your own hair salon even better.

Now comes the thinking part of analyzing the market and industry trends . This step is essential for your hair salon business plan. You want to understand who your ideal clients are so you can tailor your salon’s offerings and marketing strategies to their needs and desires.

Analyze your competition and how you can excel

When you’re checking out your competitors, don’t just glance at their website and social media pages. Take a deep dive into their customer reviews too, so you can really see how people feel about them. This will give you a better idea of their brand and what they’re doing well or not so well. Look for opportunities where you can stand out from the crowd by offering unique services or top-notch customer care .

It’s super important to keep on top of what’s happening in the beauty industry too. Keep your eyes peeled for new players and trends to stay ahead of the curve.

Running a successful hair salon is all about being organized and efficient. This means hiring talented stylists , giving them the support they need through training and a positive work environment, using a reliable scheduling system , and keeping your inventory in check. Try to build strong relationships with your suppliers too, so you always have the supplies you need on hand.

Here’s how to optimize your operations and what aspects to include when writing your hair salon business plan:

Staffing and Training:

• Hire skilled hair stylists and provide comprehensive training.
• Foster a positive work environment for teamwork and motivation.

Appointment Management:

• Use a reliable scheduling system such as Trafft to minimize wait times.
• Utilize software for automated reminders and calendar management.

Inventory and Supplies:

• Maintain an organized inventory and restock as needed.
• Establish relationships with reliable suppliers.

Salon Maintenance:

• Keep the salon clean and maintain equipment.
• Pay attention to health and safety regulations.

Client Management:

• Provide exceptional service and track preferences.
• Collect and respond to client feedback.

Workflow Optimization:

• Streamline processes for maximum efficiency.
• Update workflows based on feedback.

Maintaining a competitive pricing

Developing the right pricing strategy is crucial for your hair salon’s financial success. Here’s how to create a hair salon pricing approach that maximizes profitability while staying competitive.

• Know your costs: Calculate all expenses, including rent, utilities, supplies, and staff wages, to determine the minimum price per service.
• Research the market: Analyze competitor pricing and industry standards. Consider your unique selling points and target market when setting prices.
• Tiered pricing: Offer different service packages at various price points to cater to different budgets and attract a broader customer base.
• Add-ons and upselling: Recommend additional services or products during client consultations to increase the value per transaction and boost revenue.
• Monitor and adjust: Regularly review your pricing strategy based on market trends, customer feedback , and financial goals. Make necessary adjustments to remain competitive and profitable.

By implementing a well-designed hair salon pricing strategy, your hair salon will cover costs, generate revenue, and deliver value to your customers.

Marketing and advertising plan

To create a winning hair salon marketing plan :

• Set clear marketing goals : increase brand awareness, drive foot traffic, and boost online bookings .
• Explore marketing channels : social media (Facebook, Instagram), local newspapers, and radio.
• Craft a compelling message : highlight unique selling points (exceptional customer service, talented stylists, latest trends).
• Embrace digital marketing : create a user-friendly website , showcase services, feature testimonials, and allow online bookings.
• Leverage social media : engage with the audience, share styling tips, and promote special offers.
• Consider partnerships : collaborate with local businesses, influencers, or complementary salons.
• Measure and track : monitor campaign success, track website analytics, and gather customer feedback.
• Optimize and refine : use data insights to improve marketing strategies over time.
• Position your hair salon as the go-to destination for hair styling services in your local market.

There are plenty of great hair salon marketing ideas you can put into practice to ensure your salon gets maximum exposure.

Don’t forget to include details about employee and management structure in your hair salon business plan. For your hair salon to really take off, you need a strong leadership team to steer the ship. Look for people who have the right experience and know-how and are just as passionate about the salon biz as you are.

When you talk about your team, really hype up their qualifications and skills. Let people know about their deep knowledge of the industry and how they’re total pros at handling day-to-day operations. Be sure to explain their specific roles and how their expertise is going to help make sure your hair salon is running smoothly.

If your team members have some special training , like in hair reconstruction, definitely mention it. It’ll help set your salon apart and make it even more legit in people’s eyes.

So, before you start your hair salon business , you need to figure out how much money you’re going to make. This includes everything from what services you’ll offer to how much you’ll charge. Take a look at what other salons in your area are doing and what your potential customers are willing to pay.

Next, you have to think about expenses . Rent, utilities, employee salaries, inventory, marketing, and other costs all add up. Make a list of everything and estimate how much they’ll cost you on a monthly or yearly basis.

One thing you don’t want to forget is your breakeven point . This is the number of services or products you need to sell to cover all your expenses. It’s important to know this so you can set realistic goals and measure your financial performance.

Creating a budget is key to having a solid financial plan. Think about where you want to put your money, like marketing, equipment upgrades, staff training, and supplies. Make sure you don’t overspend and stick to your budget.

Oh, and don’t forget about technology! Setting up a reliable booking system can make your life a lot easier and keep your clients happy. There are some great options out there, like Trafft . So, keep that in mind when you’re making your budget.

Why Trafft?

Let’s paint a picture: You’re opening a hair salon;  your dream, finally taking shape. That’s thrilling, right? But hold on! It’s also daunting . The appointments, the management, the scheduling – it’s a tangled web.

Enter Trafft . It’s your new best friend, your invisible manager. Here’s why :

• 24/7 availability: Trafft handles your bookings, 24/7. Sleep easy knowing your customers can book anytime, from anywhere.
• No double-booking disasters: Trafft’s smart system prevents overlaps. Say goodbye to scheduling stress!
• Payments made painless: With integrated payment solutions, money matters are managed.
• Your salon, your rules: Fully customizable settings mean Trafft adapts to your salon, not the other way around.

Now imagine: A salon where you’re the stylist, not the secretary . Free from phone tag and double-bookings. A salon where customers conveniently book and pay, then arrive to a smooth, streamlined operation. That’s not just any salon. That’s a Trafft salon .

So why not turn your dream salon into a reality? Get Trafft . It’s not just software. It’s the helping hand your business deserves. Embrace the efficiency. Enjoy the ease. Experience Trafft . Your future self will thank you.

If you’re running a salon, you need to be aware of the potential risks that might come your way and tackle them head-on. These risks could be industry-specific or internal, like staff turnover or not complying with regulations. So, make sure to cover the details of how you plan to tackle these issues and include them in your hair salon business plan.

The plan could involve smart marketing or offering new services to deal with downturns, complying with regulations to avoid legal issues and negative feedback, and investing in staff training to make sure your clients are happy. And don’t forget to keep reviewing and updating your risk analysis and mitigation plan to stay on top of any challenges.

By being proactive and staying ahead of the game, you’ll be able to keep your salon business strong and overcome any obstacles that might come your way.

FAQ on Hair Salon Business Plan

What is a hair salon business plan.

A hair salon business plan is like a roadmap. It guides the direction and future of your business. It explains things like what services you’ll offer, who your customers are, and how you’ll make money. It’s basically your playbook for running the salon and attracting clients.

How important is a business plan for a hair salon?

Oh, it’s super crucial. Not having a plan is like driving with a blindfold on. It’s a tool to attract investors, secure loans, and understand your business better. You’ll be less likely to overlook important details, and you’ll have a clear vision to work towards.

What should a hair salon business plan include?

Your business plan should cover several key areas. Think of your services, target market, marketing plan, financial projections, and operational strategies. Also, don’t forget a solid competitive analysis. This way you know who you’re up against and can work to stand out.

How detailed should the hair salon business plan be?

Your business plan should be as detailed as possible. The more detailed, the better. It should cover everything from your business name, location, services, and pricing, to how you’ll advertise. Think about it as your salon’s blueprint.

How to do market research for a hair salon?

Start by looking at other salons in your area. What services do they offer? How much do they charge? Who are their clients? Online reviews and social media are good places to gather intel. Also, consider conducting surveys or focus groups to understand customer needs better.

How to calculate the financial projections for a hair salon?

First, you need to estimate your startup costs, like rent, equipment, supplies, etc. Then forecast your sales – how many clients will you serve daily, weekly, monthly? What will be the average spend per customer? Don’t forget about ongoing costs, like salaries, utilities, and marketing.

What are the funding options for starting a hair salon?

There are several ways to fund your salon. You can use personal savings, secure a bank loan, find investors, or even crowdfund. Each method has its pros and cons. It’s about finding what suits your situation best.

How to develop a marketing strategy for a hair salon?

Start by identifying your target clients. What social media platforms do they use? What magazines or blogs do they read? Tailor your marketing efforts to reach them. Consider loyalty programs, referral incentives, and special promotions. Remember, word-of-mouth can be super powerful in the beauty industry.

How to tackle competition in the hair salon business?

Differentiate yourself. Maybe it’s offering unique services, creating a distinctive salon experience, or focusing on superior customer service. Constantly keep an eye on what competitors are doing, but don’t just copy them. Build your own unique brand identity.

How to update a hair salon business plan?

Your business plan isn’t set in stone. As your salon evolves, so should your plan. Regularly review it, see what’s working and what’s not. Make adjustments as necessary. It’s a living document that grows with your business.

Final Thoughts on Creating an Effective Hair Salon Business Plan

Congratulations! You’ve reached the end of this ultimate guide to creating an effective hair salon business plan. Following the steps outlined in this guide, you have the knowledge and tools to write a comprehensive hair salon business plan that positions your salon for success.

Remember, a well-written plan is more than just a document. It’s a roadmap that guides your hair salon’s growth and is a valuable tool for attracting investors, lenders, and stakeholders.

Throughout this guide, we’ve explored essential elements such as understanding your target market, analyzing competition, developing a strategic marketing plan, establishing efficient operations, and setting a profitable pricing strategy. We’ve also emphasized the importance of financial planning, risk analysis, and creating a solid management team.

As you embark on your hair salon venture, stay focused on delivering exceptional customer service, staying abreast of industry trends, and continuously refining your strategies based on market feedback. With dedication, proper planning, and a passion for beauty and style, your hair salon can thrive in the competitive beauty industry.

• Jovana Smoljanovic Tucakov

Jovana Smoljanovic Tucakov is a Content Marketing and SEO Specialist who uses both words and data to communicate a message and deliver value. With more than 5 years of experience in digital marketing and content production in the IT industry, she loves identifying and solving the readers’ pain points and creating targeted content.

Curious about the human mind and emotions, especially those that drive consumer behavior. Likes fitness, food preparation, board games, reading (both for pleasure and learning), and binge-watching Netflix.

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How To Create a Successful Salon Business Plan in 10 Steps [+ Template]

Looking to open your own salon? Despite a looming recession, it’s a great time to do so — beauty industry statistics show the salon industry grew about 17 percent in 2022 , and the majority of Americans claim they’re not planning to cut back on beauty spending anytime soon. 

But before you start rounding up clients, you will need a thorough salon business plan to align your goals. While it may be tempting to jump in on the action as soon as possible, taking the time to plan your business properly will set you up for success in the long run. From market analyses to advertising campaigns, we’ll walk you through everything you need to know to create a winning salon business strategy.

1. Create your mission and vision statement

First things first — what are you planning to do with your new salon business? To answer this question, you’ll need to put some serious thought into your mission and vision statements. These statements articulate the purpose and goals of your salon and will guide the rest of your business plan.

Mission vs. vision statements

While mission and vision statements are often used interchangeably, there are differences between the two. It’s recommended that a new business have both statements before laying out its business plan.

A mission statement describes the short-term goals of the company — essentially defining the core purpose of the company and how it plans to achieve that purpose. Let’s break down this example of a salon’s mission statement:

Mission Statement

“We strive to offer our clients the highest-quality cuts at affordable prices because every woman deserves to look and feel her best.”

In this example, the business plans to offer high-quality cuts at affordable prices — the “what” and “how” —  because they believe “every woman deserves to look and feel her best” — the “why,” or core purpose.

The mission statement serves as a roadmap to achieving your business’s vision statement.  A vision statement defines your salon’s big-picture aspirations — the driving force behind your short-term actions and goals. Here’s a vision statement the example salon above might write:

Vision Statement

“We strive to expand our services nationwide as the premier choice for affordable, high-quality cuts.”

This example clearly states the business’s future goals to help define the path toward future success.

2. Know your market

Before you open your doors, you need to know who you’re opening for (your target audience) and what salons you’re up against (your competitors). Both will provide valuable information to help you determine what your clients value most .

Recognize your target audience

Your target audience is a particular group of people who may be interested in your services. A target audience profile can be broken down into four main characteristics:

• Demographic: The main characteristics of your target market, including age, income level, gender, occupation, and education level
• Geographic: Where your audience lives, works, or travels 
• Psychographic: Your target audience’s lifestyle, attitude, interests, and values
• Behavioral:  What your ideal clients want, why they want it, and how they go about achieving their needs

Let’s face the facts — everyone and their mom could use a cut and color. It’s up to you to determine who to market your business to. Are you most interested in serving the most high-end clientele, or would you rather cater to college students looking to experiment with fun, trendy styles? Will the area of town you’re located in affect how you position and price your services? 

Knowing your target audience will influence every stage of your business plan, so it’s essential you recognize what their needs and motivations are from the start.

Conduct a market analysis

Analyzing your salon’s target audience is just the first step in breaking down your target market. To truly get a comprehensive view of your business landscape, you’ll want to conduct a market analysis. 

A market analysis is a thorough assessment of your specific market within the salon industry. In addition to defining your target market, a market analysis should include:

• Potential clients’ buying habits
• The size of your target market
• The state of the industry and industry projections
• How much your potential clients are willing to pay for your services
• Who your main competitors are
• Your competitors’ strengths and weaknesses

A thorough market analysis is essential for reducing risks, identifying emerging trends and opportunities, and projecting revenue. It’s good practice to reevaluate your findings annually and adjust your salon’s business plan accordingly. Plus, you’ll be able to factor in actual customer feedback once your doors are open.

Take advantage of free market research tools like Google Trends, SurveyMonkey, and data from the Bureau of Labor Statistics and U.S. Census to aid in your market research strategy.

3. Identify your strengths, weaknesses, opportunities, and threats

With a better understanding of how you plan to position your salon within your target market, you’re ready to dive into your first SWOT analysis. A SWOT analysis is a compilation of internal and external factors that will impact your business.

Internal factors are resources and experience readily available to you — they’re categorized as either strengths or weaknesses. Examples of internal factors to include in your SWOT analysis are:

• Financial resources
• Physical resources
• Human resources
• Natural resources
• Trademarks, patents, and copyrights 

Your opportunities and threats are defined by external factors, such as:

• Market trends
• Economic trends
• Demographics
• Suppliers and partners
• Political, environmental, and economic regulations

Once you’ve completed the SWOT framework, create an innovative business strategy that will leverage your strengths and opportunities to overcome your weaknesses and threats. The SWOT analysis compels you to take a methodical and objective look at where you stand now and what you need to do to succeed.

4. Draft your salon’s executive summary

With your target market and new industry knowledge in mind, it’s time to create the most important part of your salon business plan: the executive summary. 

An executive summary is a short synopsis of your overall business plan and intentions for your new salon. Don’t let its size fool you — your executive summary is the first impression business partners and investors will have of your business. While it may be brief,  your executive summary must make an impact.

Business strategy experts agree that an executive summary should be between 5 and 10 percent of the length of your entire business plan.

What to include in your executive summary

A solid salon executive summary will provide a ton of useful information condensed into a short, sweet, and easy-to-understand package. Try your best to tie in the following when drafting your summary: 

• Strong introduction: If you want to capture your reader’s attention immediately, you’ll want to put together an introductory paragraph that not only pulls them in, but explains who you are, what you offer, and what problems you intend to solve. Keep your intro short and concise.
• Market view: Based on your market research analysis, briefly summarize the state of your target market, the needs of your target audience, and how you plan to position your salon amongst your competitors. 
• Unique selling points: What will your salon bring to the table that’ll set it apart from competitors? List any unique selling points that customers and stakeholders will find valuable. 

Financial expectations and forecasts: If you plan on sharing your business plan with potential investors or stakeholders, list the projected expenses and costs it’ll take to open and operate your salon, as well as what profits you expect to generate within the first six months. Explain why your salon needs financing and why investing in your business is a smart move.

5. Write your salon’s unique business description

Congratulations on completing the research portion of your salon business plan — it’s finally time to start bringing your dream salon to life! 

First and foremost, you’ll need to figure out how to brand your salon. There are almost a million registered hair salons in the U.S., so how can you make yours stand out?

Start by drafting your salon’s business description — this should set the scene for what customers can expect when walking into your salon. Are you hoping to give off a funky, casual vibe? Or maybe a more elegant ambiance, champagne included? The tone of your business description should convey this, as well as:

• Services you specialize in
• Packages or perks you offer
• Unique selling points that distinguish you from other salons

With a business description in place, you can now create a company logo and tagline to complete your new brand!

6. List your products, services, and prices

Let’s get down to the nitty-gritty — what are you offering, and how much will it cost? While you may be able to do it all, some services will pay off better than others. You may be doing yourself a disservice if you purchase all the supplies for perms when your clients want blowouts. 

To determine which services and products will benefit your business the most, ask yourself the following questions:

• What is my target audience interested in?
• What do I have experience in?
• What is trending?
• What are my competitors offering (or more importantly, what are they not)?

Once you have your service list set, you’ll need to calculate pricing . Striking a balance between making a stellar profit and attracting and retaining clients is one of the most difficult parts of running any business. Consider these factors when determining a fair price for your salon services:

• Similar rates in your area
• Cost and use of supplies
• Time spent on the service
• Your experience level

Review and reevaluate your services and pricing at least once a year to ensure you’re charging your worth. Cost of living, supply costs, and any additional training you may have undergone warrant a price change — just be sure to notify your loyal regulars before new pricing goes into effect.

7. Lay out your salon’s operation and logistics plan

While the earlier sections of your salon’s business plan defined your goals, your operation and logistics plan will detail how you plan to meet them. Your operations plan will have two sections:

• Short-term processes: List all the tasks, employees, vendors, software, and supplies you’ll need to run your salon on a day-to-day basis.
• Long-term milestones: Describe what you hope to achieve in the future. For new businesses, this could include the date you plan to finalize your lease, your grand opening date, or the date you hope to reach your first $100,000 in sales. 

Putting together your operations and logistics plan may make you realize just how much work goes into running a salon. Scheduling appointments, promoting your new business, managing payment processes, and tracking down no-shows on top of actually performing your services can get really overwhelming, really fast. Learn how StyleSeat can help you manage and grow your business so you can focus on what you do best.

8. Define your marketing and outreach strategy

No matter how much effort you put into designing your salon, acquiring top-of-the-line tools, or hiring the best stylists in your area, no one’s going to schedule an appointment at your salon if they don’t know you exist. That’s where your salon marketing and advertising strategy comes into play.

While there are literally thousands of way to bring attention to your salon, these marketing and outreach tactics are tried and true:

Build a website

Whether you’re targeting tech-savvy Gen Zers or old-school baby boomers, you’ll need to ensure your business is Google-able. Building your website should be the first step in creating your online presence. For the best customer experience, make sure to include your salon’s:

• Contact information and address 
• Services and pricing
• Unique selling points and mission statement
• Customer reviews and testimonials
• Links to social media profiles

Invest in social media marketing

Harness the power of Instagram , Facebook, TikTok, Pinterest, and more with a dedicated social media marketing and influencer strategy. Sharing behind-the-scenes content, before and after photos, and happy customer reactions can make your business appear more personable and reputable. It’s also a great way to boost engagement, interact with your client base, and cultivate brand awareness.

Studies Show

44 percent of beauty salons were focused on growing their social media profiles in 2022, and 35 percent of stylists claim their growing social following was their biggest opportunity for business growth.

Establish rapport and build customer loyalty

Convincing a potential customer to give a new hairstylist a try is a lot more difficult than it seems. One way to sweeten the deal is to offer first-service discounts or lower prices the first few months to get interested clients through the door . If they’re happy with your service, they’ll likely stay — especially if you have a loyalty program in place that offers discounts and perks for regular customers!

8. Get your finances in check

If you’ve already set your prices, take a bow — the hardest part of your salon’s financing strategy is already done. However, you’ll need to take your money a step further to get a rough idea of how your business will progress on a monthly and annual basis. This is especially important if you plan on applying for a loan or seeking investors. 

It may be best to put together your full financial statement three to six months after opening your salon. It should include your income statement, balance sheet, and cash flow statement so you and your stakeholders can get a better understanding of your salon’s financial health. 

Income statement

Your income statement lists both your revenue sources, expenses, and net income over a given period of time. This should include:

• Cost of sales
• Administrative expenses
• Operating expenses
• Non-operating income and expenses
• Gains and losses
• Non-recurring items

If you haven’t opened your salon yet, you can project future milestones with the same information.

Balance sheet

Your balance sheet provides a look at how much equity you have in your business. It consists of two parts:

• Business assets: What you own, such as cash, accounts receivable, inventory, prepaid expenses, or salon supplies  
• Liabilities: What you owe, including loans, credit card balances, payroll taxes, accounts payable, and your lease 

Once you’ve listed your salon’s business assets and liabilities, you can calculate your shareholder equity by subtracting the total value of your liabilities from your assets.

Cash flow statement 

Your cash flow statement will help you see when cash is low, when you have a surplus, and when you might need to access funding to keep your business afloat. Your cash flow statement lists revenue and expenses similar to your income statement, but it also takes into account when revenue is collected and when expenses are paid. 

Your cash flow is positive when you have more cash coming in than you have going out, and negative when the opposite is true.

Using graphs to visualize your cash flow can help you forecast when you may need to adjust operations to account for negative cash flow.

10. Plan for the future

With a well-structured business plan in hand, you’re ready to take on whatever the market has in store for you — at least for the first six months. But if you want to stay on top of industry fluctuations, the newest marketing trends, or competitor announcements, consistently review your salon business plan and company goals.

Salon business plan template

Opening a new salon requires a lot of moving parts — from remodeling your space to hiring your A-team, putting together your actual business strategy can get lost in your to-dos. Download this free helpful template to streamline your business plan and keep your goals top of mind.

The average profit margin for salons is 8.2 percent — 0.5 percent higher than the general business average of 7.7 percent. Salon owners in the U.S. can expect to make between $14,441 and $385,332, with an average salary of $74,699.

The startup cost for your salon will depend on a number of factors, including the type of salon, location, size, number of employees, and type of clientele you’re hoping to attract. Expect to spend anywhere from $10,000 to $200,000 before your grand opening.

Salons can make more money by implementing an effective marketing and advertising strategy, running promotions and contests, and reevaluating their pricing structure. Research your industry, emerging trends, and your competitors’ strategies for inspiration.

A thorough salon business plan can help you determine your short- and long-term goals, resources required, and effective strategies to drive business to your salon. Ready to hit the ground running? StyleSeat can help you manage and grow your new salon — no monthly fee required.

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St. Petersburg

415 3rd Street South St. Petersburg Florida 33701 (813) 602-1677

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VIBRANT DOWNTOWN ST. PETE!

MY SALON Suite® of St. Petersburg is located on 3rd Street South at 4th Avenue, where the Waterfront Arts District meets the Innovation District. This dynamic, culturally-rich downtown location is bustling with new condos & apartments, bringing thousands of new residents to the immediate area - making this an ideal place to move and grow your business! The salon is walking distance to USF’s St. Pete Campus, the Dalí Museum, the Tampa Bay waterfront, and numerous restaurants & shops, making this an exciting place for clients to come visit!

Our salon is bright and airy, with 10-foot high windows and 11-foot suite ceilings. Every hair suite either has a window or is across the hall from a window, so you can enjoy exterior views from all suites. The many large windows coupled with our large sliding glass suite doors allow abundant natural light to penetrate throughout. Yet our suites offer privacy, with enclosed ceilings in every suite, allowing you to listen to the music you want and converse with your clients without disruption from your neighbors.

With our high-end furnishings & amenities, our suites are some of the most luxurious suites in the area. If you’re looking for an upgrade in your work surroundings or simply want more career freedom & control than you have now, you owe it to yourself to come see our suites.

Free street parking is available for clients just outside the salon on 4th Ave South (over 60 free spaces). Optional garage parking is available for salon pros for a modest weekly fee.

All of the Pinellas County MY SALON Suite® locations are family owned and operated, and the owners live right here in beautiful Pinellas County. We pride ourselves on being responsive to your needs to help ensure you have the best possible space in which to operate your business. Like you, we are small business owners; and we want to see you succeed as a “salontrepreneur”. If you’re new to independent salon ownership, don’t worry… We’ll walk you through the steps to ensure your business gets off to a great start!

ABOUT OUR SUITES

​Our “best in class” suites are move-in ready and come fully-furnished with premium salon furnishings & amenities, including a state-of-the-art security system, on-site laundry, luxurious restrooms, exclusive member discounts with Square®, Vagaro, SalonCentric, and many more.

At MY SALON Suite® we strive to maintain a professional, upscale environment so you can focus on your clients and your business. No other salon setting gives you more flexibility and control of your career while also removing the stress & hassle of salon ownership. It’s the perfect place to launch your salon business and Be Your Own Boss!

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Discover a private, luxurious atmosphere where you are the sole focus. This suite space will satisfy your needs and leave you eager to return.

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Our suites are complete with the finest features and superb security that you need to make your suite dreams come true.

• Luxury furnishings
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• No commission splits
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• Eco-conscious policies
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So lucky... I cannot even begin to tell you how lucky I am to have landed my space at My Salon Suite of Palm Harbor. The owners of our salon are incredible. When I tell you they have been sleepless for all of us and helping us all along this very confusing Covid shutdown, you can believe it! Dawn Haag, Wendy Bernhard, & Brian Bernhard you are amazing examples of what community is. Thank you so much for all you’ve done to help your peeps during all of this!! Any of my friends in the Cosmetology, Esthetics, Massage, Makeup, Wellness industry…if you ever look for space of your own, call this group. They have space in Palm Harbor, St. Petersburg, Clearwater, and Valrico. So blessed to know these folks! Karen D.

I love it here. Best move I ever made! Amanda H. MY SALON Suite® of Palm Harbor

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Hair Salon Focused on the Guest Experience

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Our mission at Empower is to support our community through our time and talents. Our goal is to equip each guest with the knowledge of self-care and to enhance their individual beauty and vision of self love while empowering them to reach for more of what they were made for.

Be Our Guest

Our goal at Empower is to deliver a one-of-a-kind salon experience by building relationships and giving back to the community, while welcoming all hair types and textures, from every walk of life.

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Find the perfect Empower  stylist for you!

Searching for a new stylist for your hair can be a stressful task, but our form makes it easy to pair with and your hair with the perfect Empower team member.

Our Happy Place

If you’re ready for a new salon experience in an environment our clients describe as fresh and cozy, we invite you to come visit us in our happy place.

The Island Salon

Review Highlights

“ Kim did a great job for my husband and myself on our hair, and Linda gave me the most thorough Mani-Pedi I have ever had. ” in 4 reviews

“ Mary creates color magic with my challenging hair and I would highly recommend her!!!! ” in 3 reviews

“ Hailey 's cuts are perfect resulting in many compliments for me as I'm out and about town. ” in 2 reviews

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5901 Sun Blvd

Saint Petersburg, FL 33715

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Salon Sequence Studios

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Downtown St. Pete

1592 Central Ave, St Petersburg, FL 727-388-6788

Salon Sequence offers a wide variety of services for hair, skin, and nails with experienced, independent salon professionals. Relax and enjoy your day of beauty with our talented beauty professionals, in your own private studio.

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Good hair vibes, hair by surita, ki esthetics & beauty, m skin solutions.