Are you looking to raise capital for a start-up barber shop. If you are looking to raise capital, you will need a business plan. As well as function as a tool to raise capital, the business plan is also a detailed roadmap to a Company’s growth and success. A barber shop business typically either has in-house employees or rents space to independent contractors on an hourly basis to perform barber shop services. This decision is a very important decision for the business model and growth strategy of a barber shop. A barber shop business plan should be detailed and comprehensive and the financial plan should typically be planned on a 5 year basis with detailed revenue, expense, growth, and capital expenditure assumptions. The following are a few good questions to consider when starting a barber shop business plan:
- Where will the barber shop be located?
- How large will the barber shop be? How many stations?
- Will the barbers be employees or independent contractors?
- What services will the shop offer?
- Who is the target consumer profile?
- What are demographic stats for the geographical area that the barber shop will locate?
- What is the pricing strategy of the barber shop?
- How many barber shops are in the area? Who are the most direct competitors?
If you need a barber shop business plan and financial plan and do not know where to start, you can hire a team of professional business and financial planners. Capital West Advisors’ mission is to develop high quality business plans at the most competitive prices in the industry. Contact us at (888) 300-3090 for more information and a free consultation.