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We all know this. But how come so many salon owners start their salon business without a salon business plan? Creating a salon business plan may seem like a daunting task. Salon owners I meet procrastinate over their business plan because of the idea that a salon business plan needs to be a massive, 50 page, document with a lot of details. In fact, a one-page salon business plan is in most cases more helpful and effective than an old school 50 page document. A salon business plan is a summary of how your salon business will function and clarifies why it will be successful. It provides a roadmap with goals and milestones to lead your salon to success. The primary reason you need a salon business plan is for you to get in control of your beauty business and to enable the right decisions up front. A well laid out plan gives you a clear path to follow as you set out while it also helps spot weaknesses in your salon business early. You also need a salon business plan to communicate with others. If you need to raise money, the bank or investor will want to see your salon business plan before issuing any funds. Not having a business plan for your salon would be like building a house without any drawings. You can choose any format you want to write your plan in. A regular Microsoft Word document is common document, but you could also do it in Excel or Power Point. Even better is to use a tool the is designed specifically for creation of business plans. The most popular one is Live Plan. This is a web based tool that is specifically designed to create business plans in. They support the one-page business plan setup which I personally prefer and will cover in this article. Learn more about Live Plan here. At least for your first plan. Get a pen and paper out and jot down all ideas that come to mind. A salon mission statement is a short summary of why your salon exists, what the goal of the salon is and how this goal is achieved. It is the first thing you and other people who read your plan see and should be clearly visible at the top of your one-page salon business plan. It unites your salon team. A good salon mission statement should capture the unique essence of why your salon exists. It sets the direction of your salon business. It should be the north star you look at when making all decisions for your salon. If you want to dive deeper into how to write a truly inspiring salon mission statement, I suggest you read my separate article about it here. This is just one example to get your thinking going. All successful businesses exists to address a problem that other people have. This is worth taking a few moments to think about. And that you need to adapt how you plan to approach your salon business. It just means that you need to re-focus your salon on a specific client segment or niche. At the same time, the demands they place on their appearance continuously to go up. They want that healthy looking hair, perfect brows and nails that look stunning every day. If your salon is based in a business district in a city area, this could very well be a problem that a big part of your potential clients face. What would you say is the problem people face in the area where your salon is or will be located? Your salon menu is of course at the core of your offer. For salon service ideas you may want to add to your salon price list you can check out my other article here. Retail products is another part of your offer that should complement the services in a way that helps address your clients problem. Your solution is not only about the services and products you provide but also how you provide them. How are you pricing your services? Do you need to book in advance or do you offer drop in? Do you sell retail products online? It could be that your service menu is identical to other salons in your area. Your salon solution could then be something like. How you generate income should be summarized in the salon revenue model section of your business plan. Salons primary income comes from service revenue. Overview of the common income streams for a hair salon. Example of a Salon Revenue Model. The services packages will be offered on a subscription program or sold separately at a premium price. Your salon will not only generate income but also expenses. Your bigger cost pools should be reflected in your salon business plan. The exact costs will of course vary from salon to salon depending on location, number of staff and the business model you choose. For a more detailed picture of salon startup costs, you can read my article where I walk through all the costs of starting a salon here. Another resource you may find helpful is also my list of salon software and other tools you may need to start your business. Do you know how many people live or work in the area where you salon is or will be located? And do you know how many of those that fit in the relevant target group for your salon? So define who your ideal salon client is and estimate what the size is of that market. That is, how many people fall in to your client category and how much are they ready to spend on beauty services. This will make up your target market. Do you know how many other salons there are in the area where you have your salon or are planning to open a salon in? The more salons there are in the area in comparison to people living or working there, the tougher competition will be. What services do they offer? How are their salons positioned? Armed with that, you can take your piece of the pay. Two hairdressers, one barbershop, one nail salon, and a spa. However, no one offers the complete services packages that we will offer. Given the search for convenience and fast services is high, we expect we can take one third of the market over the coming two year. But marketing is much more than activities that attract new clients to your salon. It can influence all the 7 ways you can grow your salon business. But where do you start? The choice of salon marketing activities to implement depends on the challenges your salon face. If you need to build salon clientele fast , you should focus on that. If you need to get your existing clients to come more often, you should focus on that. In this section of your business plan, you need to make those choices and decide on the activities you need to do to set your salon up for success. Now that you know who your ideally client is and how many there are in your area. In fact, I have curated a list of the most effective salon marketing activities you can implement here. But you simply cannot do all of the salon marketing ideas in this list. You can always come back later if you want to try out more things. This is why are marketing effort will be focused on running targeted Facebook advertizing to women working in the area with an attractive intro offer. This is what you should reflect in this section of your salon business plan. Remember to specify what the role is of each person involved in your business. The salon will also allow for booth rentals and allow two stylists to rent a chair when the salon has opened. You need to obtain required salon licences , get a salon business insurance , find a salon location , buy salon equipment , market yourself to new salon clients etc. You need to break down this dark cloud into achievable milestones and goals. Then go tackle them one-by-one. You milestones can be a mix of financial goals as well as specific activities that you need to have completed by a certain point in time. Try to include all the bigger things that needs to be done from now until your salon is up and running and is meeting your break even target. You can make this as sophisticated as you want. I would encourage you to get quite detailed here with specific and concrete steps outline in for example and excel file. However, for the sake of the business plan, you can keep it to a bullet point list of the major achievements and goals. You now have all the theory you need to create the most helpful salon business plan for your business. I hope you feel that that this was the best investment of your time today. The other, better, option is to use Live Plan which will give you a much nicer result and full support along the way which I cannot really provide you. Live Plan is a web based tool that has been designed specifically for creating business plans. Download my simple one page salon business plan template in PDF version. Congratulations for taking the time to go through this salon business plan guide โ it was long, I know. But maybe the most important thing you did today. Salon owners that plan ahead are significantly more likely to see success so this was well invested time on your side. If you did, you would make my day if you wanted to share it with your friends using the social media buttons on this page. Free Training. Disclosure: This post may contain affiliate links, meaning I get a small commission if you decide to make a purchase through my links, at no cost to you. Learn more Are you ready? Pin it for Later. Complexity means distracted effort. Simplicity means focused effort. Edward de Bono. How do Salons Make Money? Salon Expenses Your salon will not only generate income but also expenses. Monthly Salon Expenses List The biggest monthly expenses a salon have are: Wages Rent and utility bills Product purchases Marketing Insurance Education The exact costs will of course vary from salon to salon depending on location, number of staff and the business model you choose. Deduct all your salon expenses from your revenue and you get to the expect profitability of your salon. When you speak to everyone, you speak to no one Meredith Hill. Salon Competition Do you know how many other salons there are in the area where you have your salon or are planning to open a salon in? Picking the Salon Marketing Activities to Focus on Now that you know who your ideally client is and how many there are in your area. Instead, pick 5 now. And make sure you can do them really well. In case you need a multi page plan later because of demand from your bank etc. Create Your Live Plan Now. Download Salon Business Plan Doc. Related Posts Here are three other posts that I think you'll like to check out. A short summary of why a salon exists, what the goal of the salon is and how this goal is achieved. How you will attract new clients to your salon and get your exiting ones to come more frequently and spend more at each visit. Critical achievements and targets that you need to complete or reach by a specified time for your salon to be successful.