3+ SAMPLE Barber Shop Business Plan in PDF
Barber shop business plan, 3+ sample barber shop business plan, what is a barber shop business plan, why choose a barber shop for a business, making that successful barber shop business plan, what are some of the services that are typically offered in a barber shop, what are some of the common men’s haircuts offered in a barber shop, what are some of the tools and equipment usually found in a barber shop.
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Barber Shop Business Plan
Starting a Barber Shop Business can be much easier when you have a well-laid-out plan for your business. Other than the professionals you’d require to hire, there are many other factors that you need to get the upper hand on before the launch. Research into beauty salons can help you chalk out plans for specific services for your Barber Shop.
The Hair and Salon Industry plays a significant role in the groomed millennial era. Cutting, trimming, and styling services are on the rise, with an estimated 4.9 billion dollars generated each year in this sector. In 2020 alone, a 1.3% rise has been seen in the grooming industry. These factors make setting up a Barber’s Shop a viable business prospect, which is more than likely to yield good profits.
Some aspects to consider before you start working on your Barber Shop Business Plan.
Shop setup parameters, equipment resources and staffing, track your competitors and related industry services, budget for each aspect.
While businesses have an approximate budget in mind, they often make the mistake of not putting an upper limit on the funding of separate aspects. Having a realistic budget estimate for every individual aspect of your business plan can help draft a plan that can run smoothly without extending your budget.
Chalking Out your Business Plan.
To sketch out a plausible business plan for your Barber’s Shop, you can go through a few business plan samples to get your aims for the venture clear. The existing Barber’s Shop plan can give some valuable suggestions about essential aspects and those that might pose potential issues.
Our Barbershop Business Plan example will give you a fair idea of what to look out for while writing down your business plan . A detailed outline of specific aspects can present a basic structure that you can add to.
The Upmetrics software for business plans can create robust plans for your own barbershop business. This business plan sample has been created using our software, and it checks all the necessary boxes for a well-covered Barbershop Business Plan.
Barber Shop Business Plan Outline
This is the standard barbershop business plan template outline which will cover all important sections that you should include in your business plan.
- Business Overview
- Our Services
- Customer Focus
- Success Factors
- Financial Highlights
- About J&S
- Hair services
- Salon Design
- Market-level trends
- Firm-level trends
- Customer-level trends
- Demographic Profile of Target Market
- Soccer/stay-at-home moms
- Joe’s Beauty Salon
- Freddie’s Fast Hair Salon
- Payment Options
- Competitive Advantage
- The J&S Brand
- Local Publications
- Major Publications
- Community Events/Organizations
- Commute Advertising
- Customer Loyalty Programs
- Direct Mail
- Ongoing Customer Communications
- Pre-Opening Events
- Pricing Strategy
- Service Functions
- Administrative Functions
- Hiring Plan
- Revenue and Cost Drivers
- Capital Requirements and Use of Funds
- Key Assumptions & Forecasts
- Income Statement (5 Year projections)
- Balance Sheet (5 Year projections)
- Cash Flow Statement (5-Year projections)
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Need help writing your business plan from scratch? Here you go; download our free barber shop business plan pdf to start.
It’s a modern business plan template specifically designed for your barber shop business. Use the example business plan as a guide for writing your own.
After getting started with upmetrics , you can copy this sample barbershop business plan into your business plan and modify the required information and download your barbershop business plan pdf and doc file . It’s the fastest and easiest way to start writing your business plan.
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FREE 6+ Barber Shop Business Plan Samples [ Men’s, Saloon, Startup ]
Barbershops have been around for a long time with quite a history behind it. Dating back to the the Greeks during 200 B.C. Barbers are often associated as hairdressers who specialized with men’s hair, since they are trained to cut shorter hair. Barbers differ with respect to where they work, which services they are licensed to provide, and what name they use to refer to themselves. Barbershops served as a men’s hair maintenance, as well as a place for socialism and discussion. If you wish to open up a barbershop or you see yourself in the barber’s trade, a barber shop business plan is the best way to start off. Read more about this in our article for today, and should you need any ready made templates go check out our barber shop business plan samples below:
Barber Shop Business Plan
6+ barber shop business plan samples, 1. barber shop business plan sample, 2. printable barber shop business plan, 3. general barber shop business plan, 4. professional barber shop business plan, 5. formal barber shop business plan, 6. standard barber shop business plan, 7. basic barber shop business plan, what is a barber shop business plan, how to write a barber shop business plan, i. executive summary, ii. company overview, iii. industry analysis, iv. customer analysis, v. competitive analysis, vi. marketing plan, vii. management summary, viii. financial plan, why is a business plan important, what is the difference between a salon and barber, how are barbers trained.
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If you want to start a barber shop or expand your current barber shop, you need a business plan. A barber shop business plan is a written document that consists of your shops core activities, objectives, and how it plans to achieve its goals. It is a road map that will guide you as you start up a barber shop business or it could help you make the necessary changes you need or expand your business. This may seem difficult to do but business plans are advantageous so you know where to start with your business and what to do.
There are several factors to consider when writing up a barber shop business plan. This entails research, studying the market, your competitors to the location of your planned barber shop. The following below are the different components you need to include to create a successful barber shop business plan.
As you start to compose your executive summary , you can consider including the following components below:
- Business Overview: include a brief review of the barbershop industry, its economic trends and forecasts
- Mission statement of your barber shop, concise explanation of the organization’s reason for existence. It describes the shop’s purpose and its overall intention.
- Products and Services : indicate what products you intend to sell examples would be variety of treatments including haircut, shaving, coloring, and styling for special occasions. And of course the services you intend to offer to your customers.
- Customers : brief statement about the target market and potential customers
- Objectives and the key success opportunities
Create a business description for your barbershop, provide the name and location of your barbershop, and follow this information with the names and contact information of each of the shop’s owners. Identify the legal business description of the barbershop, such as a sole proprietorship or partnership. You can also add a bit of history if you are expanding your barber shop business. Then include a detailed list of the services you will be offering and the type of products and brands you will selling in your shop.
Perform an industry analysis by identifying industry trends, these are factors that alters the market where your company operates. Determine the market, customer and firm level trends.
Since customers are the main source of your revenue and profit it is highly important to check what kind of market you need to tap on. Through customer analysis you can profile your potential customers, ascertain their needs, their customer behavior, then specify how our barber services and products satisfy these needs.
A competitive analysis is a strategy where you identify major competitors and research their products, sales, pricing scheme and marketing strategies. Identify your barbershop’s competition and ascertain how your business stands out against that competition. Identify your shop’s advantage and weaknesses, and explain the steps your business will take to counteract its faults and build on its opportunities.
Your marketing plan must include your marketing strategies and sales promotion plan. Outline the different marketing platforms you wish to use for advertisement. Develop your pricing strategy so it may come up as competitive in the market.
Included in this section of your business plan are the following: Organizational structure in which you will need to describe the intended number of staff and their job roles. And the management team should consist names of the owners or stakeholders whichever is applicable.
If you are about to start your barber shop business, outline your financial outlook. This should include key revenue and cost assumptions. If you have an existing shop include a personal financial statement , balance sheet, income statement and cash flow statement . Provide accurate information and figures when completing these statements and include supporting documents to verify the information, such as tax statements, receipts and bank statements.
For those who want to start up a new business or are currently preparing to expand their business, all these should start with a business plan. It is important strategic tool for entrepreneurs which helps focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.
Salon stylists are trained to cut longer, fuller men’s styles with scissors and offer other hair services. While barbers are more traditional as they cut more traditional hairstyles using clippers.
Professional barber often need to train for a year to fully grasp their profession. The training is available from specialized beauty schools and includes a written exam and a practical demonstration.
To have a successful and striving barber shop business, do not overlook your business plans. These documents can serve great purpose in the development and progress of your business for a number of years or so.
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Barber shop business plan example
Before you start writing your barber shop business plan, spend as much time as you can to reading through some samples of salon business plans. Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans. We have created a sample barber shop business plan example for you to get a good idea about how a perfect barber shop business plan should look like and what details you should include in your business plan. Source: https://upmetrics.co/template/barber-shop-business-plan-example
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- 1. B U S I N E S S P L A N 2019 Barber Shop Business Plan John Doe 10200 Bolsa Ave, Westminster, CA, 92683 (650) 359-3153 [email protected] http://www.example.com/
- 2. Table of Contents Executive Summary 4 Business Overview 4 Our Services 4 Vision 4 Mission 4 Customer Focus 5 Management Team 5 JOHN DOE 5 Success Factors 5 Financial Highlights 5 Business Overview 7 About J&S 7 Our Services 7 Hair services 7 Our Products 8 Brands 8 Salon Design 8 Industry Analysis 9 Industry Trends 9 Market-level trends 9 Firm-level trends 9 Customer-level trends 9 Customer Analysis 10 Demographic Profile of Target Market 10 Customer Segmentation 10 Soccer/stay-at-home moms 11 Professionals 11 Students 11 1 / 24
- 3. Competitive Analysis 12 Direct & Indirect Competitors 12 Joe’s Beauty Salon 12 LUX CUTS 12 Freddie’s Fast Hair Salon 12 Competitive Pricing 12 Payment Options 13 Competitive Advantage 13 Competitive Advantage 13 Marketing Plan 14 The J&S Brand 14 Promotions Strategy 14 Local Publications 14 Major Publications 15 Community Events/Organizations 15 Commute Advertising 15 Customer Loyalty Programs 15 Direct Mail 15 Ongoing Customer Communications 16 Pre-Opening Events 16 Pricing Strategy 16 Operations Plan 17 Functional Roles 17 Service Functions 17 Administrative Functions 17 Miscellaneous 17 Milestones 17 Management Team 19 Management Team Members 19 JOHN DOE 19 2 / 24
- 4. JANE DOE 19 Hiring Plan 19 Financial Plan 20 Revenue and Cost Drivers 20 Capital Requirements and Use of Funds 20 Key Assumptions & Forecasts 20 Income Statement (5 Year projections) 21 Balance Sheet (5 Year projections) 22 Cash Flow Statement (5 Year projections) 23 3 / 24
- 5. Executive Summary Business Overview Business Overview Examples John & Sons John & Sons (J&S) Barbing Salon is a standard and licensed barbing salon that will be located in a richly populated neighborhood in West Palm Beach, Florida – United States of America. We chose to open our barbing salon in this city because of the need for the services of a standard barbing salon in the neighborhood. John and Sons Barbing Salon offer services such as cut hair for both male and Our Services Start Writing here... Examples John & Sons John & Sons will provide relationship-oriented haircutting services for all ages and both genders. Haircutters will focus on building long-term rapport with their clients and strive to deliver personalized beauty results for each individual. These are the services that J&S Barbing Salon will be offering; Cut hair for both male and female Vision Start Writing here... Examples John & Sons Our vision is to become the number one choice when it comes to a barbing saloon in the whole of West Palm Beach, Florida – United States of America and also to be among the top 20 barbers shop in the United States of America within the next 10 years. Mission Examples John & Sons John and Sons Barbing Salon is in business is to establish a first class and standard barbing salon that will take care of both highly placed clients (celebrities, public figures and politicians, etc) and lowly placed clients as long as they can afford our services. We want to become one of the leaders in the barbing salon upmetrics.co Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 4 / 24
- 6. Start Writing here... services industry in Florida, and in The United States of America. Customer Focus Start Writing here... Examples John & Sons J&S will primarily serve the residents within a 5- mile radius of our location. The demographics of these customers are as follows: 27,827 residents The average income of $74,700 Management Team JOHN DOE Owner - [email protected] J&S is led by John Doe who has been in the hair care business for 20 years. While Mr. doe has never run a hair salon himself, he has been cutting hair since age 15 and spent most of his adult life working as a stylist at several major salons.As such Mr. Doe has an in-depth knowledge of the salon business including the operations side (e.g., running day- to-day operations) and the business management side (e.g., staffing, marketing, etc.). Success Factors Start Writing here... Examples John & Sons John Doe is uniquely qualified to succeed due to the following reasons: The Company will fill a specific market niche in the growing community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to frequent our business when launched. Financial Highlights J&S is currently seeking $260,000 to launch. Specifically, these funds will be used as follows: Store design/build: $140,000 Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 5 / 24
- 7. Working capital: $120,000 to pay for Marketing, salaries, and lease costs until J&S reaches break-even Topline projections over the next five years are as follows: Financial Summary Year1 Year2 Year3 Year4 Year5 Revenue $315,115 $466,067 $524,563 $590,400 $664,500 Total Expenses $345,594 $385,172 $419,434 $475,894 $507,480 EBITDA ($30,479) $80,895 $105,129 $114,506 $157,020 Depreciation $20,840 $20,840 $20,840 $20,840 $20,840 EBIT ($51,319) $60,055 $84,289 $93,666 $136,180 Interest $16,822 $14,719 $12,617 $10,514 $8,411 PreTax Income ($68,141) $45,336 $71,673 $83,153 $127,769 Income Tax Expense $0 $0 $17,104 $29,103 $44,719 Net Income ($68,141) $45,336 $54,569 $54,049 $83,050 Net Profit Margin - 10% 10% 9% 12% Average customers/day 26 29 32 36 41 2019 Business Plan | Barber Shop Business Plan 6 / 24
- 8. Business Overview About J&S Start Writing here... Examples John & Sons Our Services Below are J&S’s initial service offerings and in-store products sold. Each appointment will include an initial hair assessment and suggestion phase where the stylist will discuss the customer’s hair and preferred hairstyle. There will then be a pre-cut hair wash with our in-store products, a haircut or coloring as appropriate, and finally a post-cut styling to our customer’s preferences. Hairstylists will be asked to perform the following services for both men and women: Hair services Hair washes Hair cuts Special event hair styling Hair coloring Hair extensions upmetrics.co Read More 2019 Business Plan | Barber Shop Business Plan 7 / 24
- 9. Our Products J&S will feature premium hair products in-store from these well-established brands. It will continue to update its offering in order to provide the newest hair products to its customers. Some of its featured brands will include: Brands Gioldwell Schwarzkopf Paul Mitchell Systems Salon Design Start Writing here... Examples John & Sons Read More 2019 Business Plan | Barber Shop Business Plan 8 / 24
- 10. Industry Analysis Start Writing here... Examples John & Sons John & Sons competes against small, individually owned hair salons and barber shops, and against major regional or national chains. There are over 450,000 registered salons in the United States, a figure that reflects the hair cutting needs of 300 million people. The hair salon industry is a fragmented one, as the 50 largest companies only hold 15% of the market, which is estimated to grow to more than $35 billion in Industry Trends The industry in which J&S will compete is experiencing a number of different trends. Market-level trends Examples John & Sons Slow but steady growth. This market is expected to grow consistently at around 2% annually. Success drivers. Customer satisfaction is what ultimately makes one salon triumph while another fails. The experience a salon’s client has determines whether or not they return and whether or not they refer others to the same salon. Firm-level trends Examples John & Sons Price sensitivity at the bottom. The low-cost segment of the market, which primarily serves men and children, often competes on the basis of price. This reflects the different preferences of these particular consumers, who are often more interested in an affordable haircut than in seeing the same hair cutter on a regular basis. Size at the bottom. Larger hair salon chains tend to gravitate toward the Customer-level trends Examples John & Sons Intense customer loyalty. Many salons develop repeat customers who become a regular client base and represent a significant portion of their revenues. Salons whose employees are able to develop strong relationships with customers can expect to see more long-term success. Changing gender patterns. Traditionally, women bring in the lion’s share of revenues for hair salons, using beauty services more often and spending upmetrics.co Read More Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 9 / 24
- 11. Customer Analysis Demographic Profile of Target Market J&S will serve the residents of West Palm Beach, Florida and the immediately surrounding areas as well as those who work in West Palm Beach, Florida. The area we serve is populated mostly by the middle class; as a result, they have the means to pay for higher quality service and are looking for a hair and beauty services somewhere between the deep discounters and the top-end luxury brands. The precise demographics of the town in which our retail location resides is as follows: Wilmette Winnetka Total Population 26,097 10,725 Square Miles 6.89 3.96 Population Density 3,789.20 2,710.80 Population Male 48.04% 48.84% Population Female 51.96% 51.16% Target Population by Age Group Age 18-24 3.68% 3.52% Age 25-34 5.22% 4.50% Age 35-44 13.80% 13.91% Age 45-54 18.09% 18.22% Target Population by Income Income $50,000 to $74,999 11.16% 6.00% Income $75,000 to $99,999 10.91% 4.41% Income $100,000 to $124,999 9.07% 6.40% Income $125,000 to $149,999 9.95% 8.02% Income $150,000 to $199,999 12.20% 11.11% Income $200,000 and Over 32.48% 54.99% Customer Segmentation The Company will primarily target the following three customer segments: Examples Johns & Sons The town has a large population of stay-at-home moms who are active in the school and community. These moms seek beauty services on a regular basis. Winning the loyalty of a mother often includes winning the business of her children and husband as well. These women are well connected to each other and as such are a prime source of referral business. J&S expects to regularly acquire upmetrics.co Read More 2019 Business Plan | Barber Shop Business Plan 10 / 24
- 12. Soccer/stay-at-home moms new customers from referrals. Professionals Examples Johns & Sons J&S is located along a well-traveled commute route. By offering convenient location and exceptional service to the customer, J&S will draw in working men and women who need to look professional for work. Students Examples Johns & Sons There are multiple high schools and middle schools located in the surrounding area. These students still live on their parents’ income and can therefore afford to pay for higher-quality services than discounters provide. In particular, J&S can expect to generate significant seasonal business based on the beauty needs of the local youth culture. Soccer Moms: 40.0 %Soccer Moms: 40.0 % Professionals: 34.0 %Professionals: 34.0 % Students: 26.0 %Students: 26.0 % Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 11 / 24
- 13. Competitive Analysis Direct & Indirect Competitors The following retailers are located within a 5-mile radius of J&S, thus providing either direct or indirect competition for customers: Joe’s Beauty Salon Examples John & Sons Joe’s Beauty Salon is the town’s most popular beauty salon and has been in business for 32 years. Joe’s offers a wide array of services that you would expect from a beauty salon. Besides offering hair cuts, Joe’s also offers nail services such as manicures and pedicures. In fact, over 60% of Joe’s revenue comes from services targeted at women outside of hair services. In addition, Joe’s does not offer its customers LUX CUTS Examples John & Sons LUX CUTS has been in business for 5 years. LUX CUTS offers an extremely high-end hair service, with introductory prices of $120 per hair cut. However, LUX CUTS will primarily be targeting a different customer segment from J&S, focusing on the households with an income in the top 10% of the city. Furthermore, J&S offers many of the services and products that LUX CUTS offers, Freddie’s Fast Hair Salon Examples John & Sons Freddie’s Fast Hair Salon is located four stores down the road from J&S. Freddy’s has been in business for the past 3 years and enjoys great success, primarily due to its prime location. Freddy’s business offers inexpensive hair cuts and focuses on volume over quality. It also has a large customer base comprised of children between the ages of 5 to 13. Competitive Pricing Examples John & Sons John and Sons Barbing Salon will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America. We know the importance of gaining entrance into the market by lowering our pricing so as to attract all and sundry that is why we have consulted with experts and they have given us the best of insights on how to do this and effectively gain upmetrics.co Read More Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 12 / 24
- 14. Start Writing here... Payment Options Examples John & Sons At John & Sons Barbing Salon, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets; Payment by cash Payment via Point of Sale (POS) Machine Competitive Advantage Competitive Advantage Location J&S’s location is near the center of town, giving us access to commuters going to and leaving the train station, local office workers, and passersby shopping in the city. We also offer adequate parking making it easy for customers to patronize us. Affordable price The complete array of hair services offered by J&S nearly equals the most premium positioned competitor, LUX CUTS. However, J&S will offer these services at a much more affordable price. Management Our management team has years of business and marketing experience that allows us to market to and serve customers in a much more sophisticated manner than our competitors. Relationships Having lived in the community for 25 years, John Doe knows all of the local leaders, newspapers and other influences. As such, it will be relatively easy for J&S to build brand awareness and an initial customer base. Read More 2019 Business Plan | Barber Shop Business Plan 13 / 24
- 15. Marketing Plan Start Writing here... Examples John & Sons J&S seeks to position itself as a respectable, upper-middle-market competitor in the hair salon market. Customers can expect to receive professional hair care from familiar haircutters for a price somewhere between discount chains and luxury establishments. The J&S Brand Start Writing here... Examples John & Sons The J&S brand will focus on the Company’s unique value proposition: Convenient location Familiar, regular hairstylist Significant personal attention Moderate price point Promotions Strategy J&S expects its target market to be individuals working and/or living within a 5-mile radius of its location. [The Company’s] promotions strategy to reach these individuals includes: Local Publications Examples John & Sons John & Sons will announce its opening several weeks in advance through publicity pieces in multiple local newspapers and publications. Regular advertisements will run to maintain exposure to relevant markets. Community newspapers, school publications, youth sports programs, and similar channels will be a major promotion effort. Examples John & Sons We will make careful use of advertising in selected larger publications. Florida Times has a circulation of xyz and we can expect to reach a wider geographic region of customers on a limited basis. Advertisements with major publications will be used selectively, based on cost effectiveness. These ads will include discount coupons so that response to the ads can be tracked. upmetrics.co Read More Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 14 / 24
- 16. Major Publications Community Events/Organizations Examples John & Sons J&S will promote itself by distributing marketing materials and participating in local community events, such as school fairs, local festivals, homeowner associations, or sporting events. Since mothers are often heavily involved in such things, we will not only reach the lucrative audience of adult women but also potentially their families by extension. Commute Advertising Examples John & Sons We will drive attention toward J&S by hiring workers to hold signs alongside Washington road. Advertising on heavily traveled commute routes are an opportunity to alert large numbers of working individuals with disposable income of our opening. Customer Loyalty Programs Examples John & Sons J&S will create a winning customer loyalty program to keep its best clients coming back again and again. When not actively providing services to customers in the store, our professionals and other employees will make periodic, regular phone calls to customers. These phone calls will (a) ensure that customers are satisfied with their hair treatment, and (b) remind customers after a certain period of time has passed that they might want a new haircut. Long-term customers will have the Direct Mail Examples John & Sons J&S will blanket neighborhoods surrounding its locations with direct mail pieces. These pieces will provide general information on J&S, offer discounts and/or provide other inducements for people to visit the salon. Examples John & Sons J&S will maintain a website and publish a monthly email newsletter to tell customers about new events, products and more. Read More Read More Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 15 / 24
- 17. Ongoing Customer Communications Pre-Opening Events Examples John & Sons Before opening the store, J&S will organize pre-opening events designed for prospective customers, local merchants and press contacts. These events will create buzz and awareness for J&S in the area. Pricing Strategy Examples John & Sons John & Sons Barbing Salon will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America. We know the importance of gaining entrance into the market by lowering our pricing so as to attract all and sundry that is why we have consulted with experts and they have given us the best of insights on how to do this and effectively gain Read More Read More 2019 Business Plan | Barber Shop Business Plan 16 / 24
- 18. Operations Plan Functional Roles Start Writing here... Examples John & Sons J&S will carry out its day-to-day operations primarily on an appointment basis. Walk-in clients will be served by the earliest available hairstylist, but priority will be given to clients who called ahead. In the meantime, waiting for customers can divert themselves in the lounge, which features television and current popular magazines. The Company intends to employ [X] hairstylists and [A] assistants during peak hours and [Y] hairstylists and [B] assistants during off-peak hours. Service Functions Examples John & Sons Hair cutting Hair coloring Hair washing Product sales Administrative Functions Examples John & Sons General & administrative functions including legal, marketing, bookkeeping, etc. Sourcing and storing products Hiring and training staff Appointment making Customer service/cash register functions Miscellaneous Examples John & Sons Maintenance personnel Milestones John & Sons' long term goal is to become the dominant provider of hair care and related services and upmetrics.co Read More Read More Read More Read More 2019 Business Plan | Barber Shop Business Plan 17 / 24
- 19. products in the Florida area. We seek the standard by which other providers are judged. The following are a series of steps that lead to our vision of long-term success. J&S expects to achieve the following milestones in the following [xyz] months: Date Milestone [Date 1] Finalize lease agreement [Date 2] Design and build out [Company Name] storefront [Date 3] Hire and train initial staff [Date 4] Kickoff of a promotional campaign [Date 5] Launch [Company Name]?s store [Date 6] Reach break-even 2019 Business Plan | Barber Shop Business Plan 18 / 24
- 20. Management Team Management Team Members JOHN DOE Owner - [email protected] J&S is led by John Doe who has been in the hair salon business for 20 years. While Mr. Doe has never run a hair salon himself, he has extensive experience cutting, treating, and styling hair at major salons for the past 20 years. He began his career in [19xx] when he received a certification from Artcon Cutting School and began work at [major chain], where he worked for X years. Mr. Doe graduated from the University of ABC where he majored in Communications. JANE DOE Customer service manager - [email protected] Ms. Jane Doe will serve as the customer service manager. He/she has extensive experience in the hospitality industry. Hiring Plan Start Writing here... Examples John & Sons John Doe will serve as the store manager. In order to launch our salon, we need to hire the following personnel: Hair Stylists (3 positions) As dictated by demand and operational maturity, Mr. Doe will consider hiring the following personnel: upmetrics.co Read More 2019 Business Plan | Barber Shop Business Plan 19 / 24
- 21. Financial Plan Revenue and Cost Drivers Start Writing here... Examples John & Sons J&S’s revenues will come primarily from the services rendered and secondarily from the sale of hair care products. As with most services, labor expenses are the key cost drivers for hair salons. Hair stylists are paid through a combination of salaries and commission, rewarding them for performance and making hair stylists an active part in business retention and development. Capital Requirements and Use of Funds Start Writing here... Examples John & Sons John & Sons are seeking total funding of $260,000 of debt capital to launch its store. The capital will be used for funding capital expenditures and location build- out, hiring initial employees, marketing expenses and working capital. Specifically, these funds will be used as follows: Store design/build: $140,000 Key Assumptions & Forecasts The following table reflects the key revenue and cost assumptions made in the financial model. upmetrics.co Read More Read More 2019 Business Plan | Barber Shop Business Plan 20 / 24
- 22. Number of customers per day Per location Year 1 26 Year 2 29 Year 3 32 Year 4 36 Year 5 41 Haircut $35 Hair Style $60 Color $40 Product Sales $20 Annual Rent $90,000 Income Statement (5 Year projections) 2019 Business Plan | Barber Shop Business Plan 21 / 24
- 23. Year 1 Year2 Year3 Year4 Year5 Revenues Product/Service-A $151,200 $333,396 $367,569 $405,245 $446,783 Product/Service B $100,800 $222,264 $245,046 $270,163 $297,855 Total Revenues $252,000 $555,660 $612,615 $675,408 $744,638 Expenses & Costs Cost of goods sold $57,960 $122,245 $122,523 $128,328 $134,035 Lease $60,000 $61,500 $63,038 $64,613 $66,229 Marketing $20,000 $25,000 $25,000 $25,000 $25,000 Salaries $133,890 $204,030 $224,943 $236,190 $248,000 Other Expenses $3,500 $4,000 $4,500 $5,000 $5,500 Total Expenses & Costs $271,850 $412,775 $435,504 $454,131 $473,263 EBITDA ($19,850) $142,885 $177,112 $221,277 $271,374 Depreciation $36,960 $36,960 $36,960 $36,960 $36,960 EBIT ($56,810) $105,925 $140,152 $184,317 $234,414 Interest $23,621 $20,668 $17,716 $14,763 $11,810 PRETAX INCOME ($80,431) $85,257 $122,436 $169,554 $222,604 Net Operating Loss ($80,431) ($80,431) $0 $0 $0 Income Tax Expense $0 $1,689 $42,853 $59,344 $77,911 NET INCOME ($80,431) $83,568 $79,583 $110,210 $144,693 Net Profit Margin (%) - 15.00% 13.00% 16.30% 19.40% Balance Sheet (5 Year projections) 2019 Business Plan | Barber Shop Business Plan 22 / 24
- 24. Year1 Year2 Year3 Year4 Year5 ASSETS Cash $16,710 $90,188 $158,957 $258,570 $392,389 Accounts receivable $0 $0 $0 $0 $0 Inventory $21,000 $23,153 $25,526 $28,142 $31,027 Total Current Assets $37,710 $113,340 $184,482 $286,712 $423,416 Fixed assets $246,450 $246,450 $246,450 $246,450 $246,450 Depreciation $36,960 $73,920 $110,880 $147,840 $184,800 Net fixed assets $209,490 $172,530 $135,570 $98,610 $61,650 TOTAL ASSETS $247,200 $285,870 $320,052 $385,322 $485,066 LIABILITIES & EQUITY Debt $317,971 $272,546 $227,122 $181,698 $136,273 Accounts payable $9,660 $10,187 $10,210 $10,694 $11,170 Total Liabilities $327,631 $282,733 $237,332 $192,391 $147,443 Share Capital $0 $0 $0 $0 $0 Retained earnings ($80,431) $3,137 $82,720 $192,930 $337,623 Total Equity ($80,431) $3,137 $82,720 $192,930 $337,623 TOTAL LIABILITIES & EQUITY $247,200 $285,870 $320,052 $385,322 $485,066 Cash Flow Statement (5 Year projections) 2019 Business Plan | Barber Shop Business Plan 23 / 24
- 25. Year1 Year2 Year3 Year4 Year5 CASH FLOW FROM OPERATIONS Net Income (Loss) ($80,431) $83,568 $79,583 $110,210 $144,693 Change in working capital ($11,340) ($1,625) ($2,350) ($2,133) ($2,409) Depreciation $36,960 $36,960 $36,960 $36,960 $36,960 Net Cash Flow from Operations ($54,811) $118,902 $114,193 $145,037 $179,244 CASH FLOW FROM INVESTMENTS Investment ($246,450) $0 $0 $0 $0 Net Cash Flow from Investments ($246,450) $0 $0 $0 $0 CASH FLOW FROM FINANCING Cash from equity $0 $0 $0 $0 $0 Cash from debt $317,971 ($45,424) ($45,424) ($45,424) ($45,424) Net Cash Flow from Financing $317,971 ($45,424) ($45,424) ($45,424) ($45,424) SUMMARY Net Cash Flow $16,710 $73,478 $68,769 $99,613 $133,819 Cash at Beginning of Period $0 $16,710 $90,188 $158,957 $258,570 Cash at End of Period $16,710 $90,188 $158,957 $258,570 $392,389 2019 Business Plan | Barber Shop Business Plan 24 / 24
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How to Draft Barber Shop Business Plan- Free PPT & PDF
Have you ever stepped into a well-run barber shop and marveled at the harmonious rhythm of buzzing clippers, the inviting scent of aftershave, and the animated conversations floating through the air? As a bustling hub of style, confidence, and camaraderie, a barber shop holds the power to transform mere haircuts into memorable experiences. Let's discuss Barber Shop Business Plan.
Behind every thriving barber shop lies a crucial ingredient that ensures its success – a meticulously crafted business plan.
If you're considering opening a barber shop but lack practical knowledge on how to proceed, the first step is to create a comprehensive business plan. This plan will serve as a practical guide, covering all aspects of setting up and running a successful barber shop.
Barber Shop Business Plan
A barber shop business plan serves as the compass that guides you through the labyrinth of entrepreneurship, helping you navigate the intricacies of your venture while setting the stage for long-term growth and prosperity. It is the blueprint that outlines your vision, identifies your target audience, analyses your competition, and delineates the steps required to make your dream of a thriving barbershop a reality.
In today's fast-paced and competitive world, having a solid business plan is not just an option; it is an essential tool that empowers you to make informed decisions, secure financing, and stand out amidst the sea of businesses vying for attention. So, let's dive deeper into why a barber shop business plan is indispensable for turning your passion for barbering into a thriving, profitable enterprise.
Remember, a great haircut can change a person's life. But a great business plan can change yours. Let's make some magic happen!
Further, SlideTeam brings you ready to use Barbershop Business Plan, in this blog you will get to know some of the important slides that you can’t miss at any cost
Slide 1 Executive summary of the barber shop start-up including mission and vision
The purpose of this slide is to provide a broader overview of the barber shop industry. It includes key highlights of the market in addition to the mission and vision of the firm.
The executive summary of a barber shop start-up is a concise yet powerful section of your business plan that captures the essence of your venture. Further, it serves as the first impression for potential investors, lenders, or partners, giving them a glimpse into the soul of your barbershop.
However, mission and vision are the heart and soul of your business, the driving force behind your entrepreneurial journey.
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Slide 2 Description of products and services offered by the barber shop
This slide is to express the benefits the firm provides to its customers or clients. It offers haircuts, hairstyling, hair extension, shampoo, beard treatment, etc. to its clients. It will also offer haircuts to kids under the age 10.
Further, the description of your products and services is a critical component of your barber shop business plan. It not only helps differentiate your barber shop from competitors but also showcases your expertise, creates a compelling customer experience, guides pricing decisions, and serves as a foundation for future growth. Also, by paying careful attention to this section, you'll be well on your way to attracting a loyal customer base and achieving long-term success in the barbering industry.
Slide 3 Unique value proposition of barber shop
The purpose of this slide is to highlight the key success factors of the barber shop which leverage them with a competitive edge in the market. It covers partnerships, mobile applications, competitive prices, etc.
In the bustling world of barbering, where every street corner seems to house a barbershop, standing out from the crowd is not just desirable—it's crucial. And that's where a unique value proposition (UVP) comes into play. A strong and well-defined UVP is a barber shop's secret weapon, setting it apart from competitors and attracting a loyal customer base.
Slide 4 Major restraints hampering the growth of the barber shop industry
The purpose of this slide is to guide stakeholders about the problems prevailing in the industry. It covers various challenges such as operational insufficiency, increasing rents, and technical failure.
A well-rounded business plan doesn't just focus on the opportunities and strengths of a barber shop; it also takes into account the potential challenges and restraints that could hinder growth. By addressing major restraints in the barber shop industry within your business plan, you demonstrate a realistic and strategic approach to mitigating obstacles.
Slide 5 Target segment analysis with buyer’s persona
This slide covers an assessment of how the firm’s products and services will fit into a certain market and where they will acquire the most traction with customers. It covers a few statistics about the target group and buyer’s persona.
In the ever-evolving landscape of business, understanding your target market is essential to success. This is where a thorough target segment analysis, coupled with the development of buyer's personas, becomes invaluable in your business plan. So by delving deep into the characteristics, needs, and behaviors of your ideal customers, you gain crucial insights that will guide your strategies and ensure your offerings align with their expectations.
Slide 6 Comprehensive competitor analysis with attributes
The purpose of this slide is to provide a glimpse of key competitors in the industry to gain insight into their products, services, sales, and marketing tactic. It will help the firm implement new business strategies to compete successfully in the market.
Competitor analysis is not a one-time exercise but an ongoing process. Regularly monitoring and analyzing your competitors' attributes allows you to stay abreast of market trends, industry innovations, and changing customer demands. This information helps you identify opportunities for continuous improvement and innovation. By observing your competitors' successes and failures, you can learn from their experiences and adapt your strategies and offerings accordingly.
Slide 7 Detailed SWOT analysis for a barber shop start-up
The slide includes the strengths, weaknesses, opportunities, and threats analysis of the barber shop start-up. It helps in building what the company does well, and what it lacks, seizing new openings, and minimizing risks.
Competitor analysis is not a one-time exercise but an ongoing process. Regularly monitoring and analyzing your competitors' attributes allows you to stay abreast of market trends, industry innovations, and changing customer demands. Also, this information helps you identify opportunities for continuous improvement and innovation. By observing your competitors' successes and failures, you can learn from their experiences and adapt your strategies and offerings accordingly.
Slide 8 Evaluating client journey through a sales funnel
This slide highlights customer journey mapping to track users' actions and key touch points across levels such as awareness, consideration, conversion, and loyalty. It enables organizations to see how well each step of the sales process is working.
Deploying an efficient organizational structure is of utmost importance for the smooth operations and long-term success of your startup. However, it provides clarity regarding roles and responsibilities, facilitates effective communication and collaboration, enables scalability and adaptability, empowers decision-making, facilitates efficient resource allocation, and supports growth and scalability.
Slide 9 Implementing yearly milestones for the successful growth of start-up
The purpose of this slide is to facilitate managers to convey project progress updates to stakeholders and get their approvals. Further, this slide portrays key milestones of the barber shop start-up to be achieved in year 1, year 3, and years 5 onwards.
Implementing yearly milestones in your business plan is essential for the successful growth of your startup. It provides clarity, accountability, and measurement of progress. It guides strategic planning and resource allocation, promotes agility and adaptability, and enhances investor confidence.
Slide 10 Deploying an efficient organizational structure for smooth operations
The purpose of this slide is to craft a successful hierarchical framework for the firm to ensure smooth operations. It depicts the Business developer, marketing head, Finance staff, human resources, etc.
Further, deploying an efficient organizational structure is of utmost importance for the smooth operations and long-term success of your startup. It provides clarity regarding roles and responsibilities, facilitates effective communication and collaboration, enables scalability and adaptability, empowers decision-making, facilitates efficient resource allocation, and supports growth and scalability.
The barber shop business plan demonstrates a strong foundation for a thriving grooming business. Although with its customer-centric focus, skilled team, effective marketing strategies, and solid financial projections, the business is well-positioned to capture a significant market share and become a go-to destination for customers seeking professional grooming services. However, SlideTeam has prepared ready to use Business Plan PPT on the same, download it now!
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