Are you looking to start a hair salon business? A solid business plan is the first step in starting a hair salon business. Hair salons offer hair cuts, shampoo cleansing, hair styling, hair extension application, hair treatment, and a wide variety of hair products, hair extensions, and more. Some salons operate on a booth rental basis, where stylists pay the owner a rental fee to provide services in their booth and then determine their own pricing and promotions.
Are you going to hire staff and pay them hourly or are you going to rent booths to independent contractors to provide services or a combination of both? If you want to write a hair salon business plan, be sure to answer the following questions:
- How will your business be structured?
- What services will you provide?
- What products will you offer?
- What is your competition (5 hair salons that are closest to you geographically).
- What is your target consumer profile?
- What will your salon offer that customers can’t get at other hair salons?
Answering these questions will get your plan off to a good start, but a thorough business plan requires much more information. Unfortunately, the average person spends 400 hours crafting a business plan, and successful plans can require even more time and energy. Capital West Advisors can help. Call us today for a free consultation. 888-300-3090.