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Beauty Salon Business Plan Template

Written by Dave Lavinsky

Beauty Salon Business Plan

You’ve come to the right place to create your beauty salon business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their beauty salons.

Below is a salon business plan example to help you create your own beauty salon business plan.

Executive Summary

Business overview.

Major Lengths Beauty Salon is a newly established hair and beauty bar located in Glendale, Arizona that is founded by Jenna Diaz, a local hair stylist and aesthetician that has worked in the industry for over 15 years. Jenna’s knowledge in hair, nail, and facial trends have made her a popular stylist in the community. As her client list continues to grow, Jenna realizes that it’s time for her to open up her own salon.

Major Lengths Beauty Salon will be located in Glendale’s upscale district in a 5,000 square foot retail space. The area is highly trafficked with middle to high income residents who spend on luxury items such as cars, clothes, jewelry.

The beauty salon will offer haircuts and treatments, facials, manicures, and pedicures. Major Lengths will also carry a large selection of hair and beauty products that will be available for purchase. Jenna will have a loyalty program where the top clients will receive discounts on their service as a thank you for remaining loyal and referring other potential clients to the salon.

Product Offering

The following are the services that Major Lengths Beauty Salon will provide:

  • Color Treatment
  • Healthy Hair Treatment
  • Nail Services

Customer Focus

Major Lengths Beauty Salon will target the male and female adult population of Glendale, although the majority of clientele will be women. They will be middle to high income and working in a variety of industries, such as medical, legal, business, education, or other white collar professions. The salon will target stay at home mothers as well who enjoy a day of pampering.

Management Team

Major Lengths Beauty Salon will be owned and operated by Jenna Diaz, a local Arizona hair stylist and aesthetician. Her years of experience and in the industry have allowed her to meet the following talented individuals.

Jenna has recruited a talented nail technician and aesthetician from her previous salon to join her at Major Lengths. Jenna regards them as the best in the industry and knows that their quality of work is up to her high standards. They also have a loyal and large list of clients that will likely follow them to the new salon.

While the three of them will be in charge of their respective department, Jenna will be the head manager to oversee the entire operation of the beauty salon.

Success Factors

Major Lengths Beauty Salon will be able to achieve success by offering the following competitive advantages:

  • Latest hair and nail trends
  • Modern and comfortable environment
  • More selection of each service offered than any other salon in town
  • Major Lengths Beauty Salon offers the best pricing in town

Financial Highlights

Major Lengths Beauty Salon is seeking $100,000 in debt financing to open the beauty salon. The funding will be dedicated towards securing the retail space and purchasing the salon furniture, equipment, decorations, opening inventory, and working capital. The breakout of the funding is below:

  • Beauty salon build-out: $30,000
  • Opening inventory, furniture, equipment, decorations:  $40,000
  • Three months of overhead expenses (payroll, rent, utilities):  $15,000
  • Marketing costs: $5,000
  • Working capital:  $10,000

  The following graph below outlines the pro forma financial projections for Major Lengths Beauty Salon.

beauty service business plan

Company Overview

Who is major lengths beauty salon.

Major Lengths Beauty Salon is a newly established hair and beauty bar located in Glendale, Arizona. The company is founded by Jenna Diaz, a local hair stylist and aesthetician that has dedicated her career to making women look and feel their best. Throughout her years in the beauty industry, Jenna gained extensive knowledge in hair, nail, and facial trends as well as how to give exceptional customer service to all of her clients. Jenna realizes that men and women invest a lot of time and money into their appearance and she takes extra care to ensure her clients not only feel special, but walk away with their desired result.

Major Lengths Beauty Salon will be located in Glendale’s upscale district in a 5,000 square foot retail space. The area is highly trafficked with middle to high income residents who spend on luxury items such as cars, clothes, jewelry. Some of Arizona’s most expensive homes are within a 15-mile radius from the location. The salon will be decorated with a contemporary style, have modern furnishings, and include a welcoming waiting and reception area, large hair styling room, and separate areas for facials and nail services.

Major Lengths Beauty Salon History

Major Lengths is owned and operated by Jenna Diaz, a local hair stylist and aesthetician who has made her career working in the beauty industry for the past 15 years in Glendale. She has gained extensive knowledge through her continuing education and industry seminars. Jenna has a long list of loyal clientele who will follow her to her new salon. Aside from her beauty salon knowledge and expertise, Jenna has taken local business courses to learn salon management and leading a small team of stylists, manicurists, and aestheticians.

Since incorporation, Major Lengths Beauty Salon has achieved the following milestones:

  • Registered Major Lengths Beauty Salon, LLC to transact business in the state of Arizona.
  • Has obtained the necessary salon permits and licenses for the state of California.
  • Has a lease contract in place for the 5,000 square foot beauty salon.
  • Has developed the complete list of salon services and products.
  • Has developed the beauty salon’s logo and branding image.
  • Began recruiting a team of stylists, manicurists, and nail technicians.

Major Lengths Beauty Salon Products

The following will be the services Major Lengths Beauty Salon will provide:

Industry Analysis

The Beauty Salon industry is expected to increase in size by 2.5% over the next five years. Demand for industry services mirrors broader economic performance, as economic growth boosts consumer spending on personal care products and services. Specifically, new products and services have favorably contributed to industry revenue growth over the majority of the past five years.

Online platforms such as Instagram and Facebook have provided a convenient and low-cost marketing strategy for many stylists and technicians to garner new clientele. Higher service prices and increased consumer spending on high-margin merchandise and services have also fueled revenue growth, as operators capitalize on rising per capita disposable income. Continued growth in household income over the outlook period is expected to drive consumer spending and boost demand for premium personal care services. Moreover, equipped with larger budgets, consumers will likely continue to favor professional salon products and services, such as hair coloring services, over less expensive alternatives sold at drugstores and supermarkets. Environmental sustainability concerns are expected to become more prevalent over the next five years, leading salons to offer a wider array of eco-friendly products that appeal to trending consumer preferences. Specifically, nontoxic products will likely benefit industry revenue, staff and patrons. This growing niche will likely drive hair salon revenue over the coming years.

Customer Analysis

Demographic profile of target market.

The precise demographics for Glendale, Arizona are:

Customer Segmentation

Major Lengths Beauty Salon will primarily target the following customer profiles:

  • Stay at home mothers and fathers
  • Working professionals
  • College students
  • Retired females
  • Mothers with adult or teenage daughters

Competitive Analysis

Direct and indirect competitors.

Major Lengths Beauty Salon will face competition from other companies with similar business profiles. A description of each competitor company is below.

Hair Xtreme

Hair Xtreme is located on the west side of Glendale and is owned by a local hair stylist with over 30 years of experience. Hair Xtreme specializes in haircuts and hair coloring services as well as hair color correction. The owner is also certified in Balayage highlighting by the prestigious L’oreal SOHO Academy. Hair Xtreme Beauty Salon was established to create a higher level of service in the Glendale community and has amassed a large clientele. The salon is regarded as the go-to salon for anyone looking for extreme color or haircut transformation. The pricing of services are on the higher end of the spectrum and caters to the community in the middle to higher income range.

Hair Xtreme Beauty Salon’s full list of services include haircuts, balayage, ombre, highlights, color retouch, hair treatments, and special occasion styles. The salon is open Tuesday through Saturday and is by appointment only.

The Complete Package

The Complete Package is not only a hair and nail salon in Glendale, but also provides massage treatment, eyelash extensions, and body treatments. The salon is moderately priced and leans to be more affordable to target the population who doesn’t spend lavishly on beauty services, but also occasionally like to get pampered. Owned and operated by a mother and daughter team of hair stylists, The Complete Package is located in a small retail shopping center in the middle of the city. The salon has been in operation for over 20 years and was founded by Kate Beneducci. She was able to bring The Complete Package into operation due to her experience and background in cosmetics, marketing, and management. Every single stylist is a certified cosmetologist and are all required to attend a mandatory training every year to learn the latest techniques.

The Complete Package’s full list of salon services include hair, makeup, eyelash extensions, and nails. The full list of spa services include waxing, facials, microdermabrasion, massage, and body treatments. The salon regularly posts promotions to increase customer loyalty. The Complete Package is open daily by appointment and is able to take walk-ins Friday through Sunday.

Fringe Beauty Salon and Spa

Fringe Beauty Salon and Spa is located on the west side of Glendale, Arizona and was established in 2013 as a premier beauty salon. Fringe caters to the higher income clientele and their pricing is the most expensive in town. The owner relocated to Glendale to start her own beauty salon after working in the beauty industry in New York and Los Angeles for many years. She did hair and salon services for many celebrities and has been known to be the stylist for awards shows such as the Emmys and Oscars.

As a Glendale native, she relocated to her hometown to provide a higher quality of salon services to the community. The full list of services for Fringe Beauty Salon include haircuts, hair treatments, hair color, balayage, ombre, special occasion, manicures, pedicures, massage, facials, eyelash extensions, waxing, and makeup.

With a luxury atmosphere and relaxing spa environment, Fringe Beauty Salon and Spa is frequently booked for those wanting a full day of pampering.

Competitive Advantage

Major Lengths Beauty Salon will be able to offer the following advantages over their competition:

  • Friendly and knowledgeable staff who are all trained and experienced in the latest hair and beauty trends.
  • Complete list of beauty salon services intended to provide a full day of pampering and relaxation.
  • Casual and comfortable environment with a luxurious feel.
  • Major Lengths Beauty Salon offers the best pricing in town for the high quality of services provided. Their pricing structure is the most cost effective compared to the competition.

Marketing Plan

Brand & value proposition.

Major Lengths Beauty Salon will offer the unique value proposition to its clientele:

  • Complete list of beauty salon services all provided by trained and knowledgeable hair stylists, manicurists, and aestheticians.
  • Pricing is affordable and moderate so customers perceive value when visiting the beauty salon.

Promotions Strategy

The promotions strategy for Major Lengths Beauty Salon is as follows:

Website/SEO Marketing

Major Lengths Beauty Salon has hired an advertising firm to develop their branding image and logo. They will also develop the hair salon’s website. The website will include a full list of services, pricing, and pictures. The advertising company will also manage the company’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Glendale beauty salon” or “beauty salon near me”, Major Lengths Beauty Salon will be listed at the top of the search results.

Word of Mouth/Referrals

Jenna Diaz has a long list of loyal clients that have been with her for decades. They will follow her to the new salon and will receive additional clients from their referrals.

Social Media

Once the branding and logo is finalized, Jenna will use social media to her advantage and create social media business pages on all of the popular social media platforms. She will commit to posting daily to increase the list of followers and use it to regularly engage with customers.

Print Advertising

Major Lengths Beauty Salon will invest in professionally designed print ads to display in local magazines and hand out flyers to local businesses.

The pricing of Major Lengths Beauty Salon will be moderate and on par with competitors so customers feel they receive value when purchasing their salon services.

Operations Plan

The following will be the operations plan for Major Lengths Beauty Salon.

Operation Functions:

  • Jenna Diaz will be the Owner and Manager of the beauty salon. She will order salon inventory and products, oversee staff, payroll, and manage customer service.
  • Melanie Brooks – Head nail technician that will oversee the nail department.
  • Fiona Adams – Head aesthetician that will oversee the facial and massage departments.
  • Jenna has hired third party companies to manage the bookkeeping, accounting, tax payments, insurance, and legal requirements.

Milestones:

Major Lengths Beauty Salon will have the following milestones complete in the next six months.

8/1/202X – Finalize retail space for beauty salon

8/15/202X – Begin build-out of beauty salon to include stylist stations, facial and massage rooms, and nail service area

9/1/202X – Order opening inventory

9/15/202X – Begin marketing campaign

9/22/202X – Hire staff of hair stylists, nail technicians, massage therapists, and aestheticians

10/1/202X – Major Lengths Beauty Salon Grand Opening Event

Major Lengths Beauty Salon will be owned and operated by Jenna Diaz, a local Arizona hair stylist and aesthetician. Jenna has made an impressive career helping women achieve their desired look and feel. As an Arizona native, Jenna has attended the local beauty college and attends industry trade shows and training seminars annually. She has amassed a large and loyal clientele and has even done hair treatments, cuts, and facials for local celebrities and sports personalities. Jenna is committed to establishing a beauty salon in her hometown of Glendale and making it a place where the women and men flock to when they want the latest hairstyle, manicure, or facial.

While the three of them will be in charge of their respective department, Jenna will be the head manager to oversee the entire operation of the beauty salon. She will also outsource a third party insurance company, CPA, and attorney to take care of her insurance, legal obligations, and tax filings. Jenna will also employ a part time bookkeeper to handle her day to day accounting and payroll of staff.

Financial Plan

Key revenue & costs.

The revenue drivers for Major Lengths Beauty Salon are the sales from hair services, nail services, massages and facials.

The cost drivers will be the overhead costs required to staff the beauty salon. The expenses will be the payroll cost, rent, utilities, salon inventory, and marketing materials.

Funding Requirements and Use of Funds

Major Lengths Beauty Salon is seeking $100,000 in debt financing to open the beauty salon. The funding will be dedicated towards securing the retail space and purchasing the salon furniture, equipment, decorations, opening inventory, and working capital. Jenna will need to allocate funds for the first three months of payroll and operating expenses as well as spend approximately on branding and marketing. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Beauty Salon Services Sold Per Month: 300
  • Average Revenue per Month: $20,000
  • Beauty Salon Lease per Year: $110,000

Financial Projections

Income statement, balance sheet, cash flow statement, beauty salon business plan template faqs, what is a beauty salon business plan.

A beauty salon business plan is a plan to start and/or grow your beauty salon. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your beauty salon business plan using our Beauty Salon Business Plan Template here .

What are the Main Types of Beauty Salons?

There are a number of different kinds of beauty salons, some examples include: Beauty salon focusing strictly on hair styling, beauty salon offering hair removal services, skin care services, nail services, tanning services, or massage services, and beauty salon offering products.

How Do You Get Funding for Your Beauty Salon Business Plan?

Beauty salons are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for a business plan for a beauty salon or a hair salon business plan.

Why do You Need a Business Plan Template?

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

Where Can I Get a Beauty Salon Business Plan PDF?

You can download our free beauty salon business plan template PDF here . This is a sample beauty salon business plan template you can use in PDF format.

Free Hair and Beauty Salon Sample Business Plan PDF

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Elon Glucklich

6 min. read

Updated February 7, 2024

Looking for a free,  downloadable hair and beauty salon sample business plan Word doc  or  PDF  to help you create a business plan of your own? Bplans has you covered.

Keep in mind that you don’t need to find a sample business plan that exactly matches your business. Whether you’re launching an upscale, full-service salon in a bustling city or a neighborhood barbershop, the details will be different, but the bones of the plan will be the same.

Are you writing a business plan for your salon because you’re seeking a loan? Is your primary concern building a clear roadmap for growth? Either way, you’re going to want to edit and customize it so it fits your particular company.

No two salons are alike. Your business model will be different if you’re renting space to independent hairstylists, rather than taking on employees, for example. So take the time to create your own financial forecasts and do enough market research so you have a solid plan for success.

  • What should you include in a hair and beauty salon business plan?

Your hair and beauty salon business plan doesn’t need to be hundreds of pages—keep it as short and concise as you can. You’ll probably want to include each of these sections:

  • Executive summary
  • Company summary and funding needs
  • Products and services
  • Marketing plan
  • Management team
  • Financial plan

One of the things that makes a salon business plan different from some service-based business plans is that you might decide to offer a combination of products and services.

Maybe you’ll sell shampoo, beard oil, or other cosmetics and beauty products, in addition to offering services like haircuts, manicures, or massages. If that’s the case, make sure you include your ideas for upselling products to customers to increase the value of every appointment you book.

Here’s an example of a salon business plan outline.

Hair and beauty salon sample business plan outline.

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  • The 7 elements of an effective hair and beauty salon business plan

1. Executive Summary

The  executive summary  provides a high-level overview of your business plan. It should outline the objectives of your hair and beauty salon, such as to offer high-quality services, to expand the client base, or to break into a new market.

Your salon’s mission statement should describe its purpose and what sets it apart from competitors. For example, you may aim to offer a personalized experience for each customer or provide eco-friendly hair and beauty services.

The keys to success are the factors that will help your salon thrive. These may include a prime location, hiring experienced staff, excellent customer service, or a unique product and service range.

2. Company Summary and Funding Needs

The company summary offers a detailed overview of your salon, including its legal structure , location, and history. Also, it highlights your salon’s funding needs if you are seeking financial support.

Clearly state how much funding you need, what you will use it for, and how it will benefit the salon. For instance, you may need funds to renovate the premises, purchase equipment, or boost marketing efforts.

3. Salon Products and Services

This section should detail the products and services your hair or beauty salon will offer. These may include haircuts, hair treatments, manicures, pedicures, massages, and beauty treatments.

If you plan to retail beauty products such as shampoos, conditioners, or skin care items, include this information too. Highlight any unique services or products that differentiate your salon from competitors.

4. Salon Marketing Plan and Analysis

Your marketing plan should outline the strategies you will use to attract and retain customers. These strategies might include social media advertising, loyalty programs, partnerships with local businesses, and special promotions.

Additionally, you should conduct a thorough market analysis. Understand your target customers, their preferences, and their spending habits. Identify your competitors, their strengths and weaknesses, and how you can differentiate your salon.

5. Salon Management Team

The management team section provides information about the salon’s key personnel. This could include the salon owner, managers, stylists, beauticians, and other staff members. Highlight their roles, responsibilities, qualifications, and experience.

If you plan to rent chairs to independent stylists rather than hiring employees, describe how this arrangement will work and the advantages it offers for your business.

6. Financial Plan and Forecasts

Your financial plan should present detailed financial projections, including revenue, costs, and profitability. Include a cash flow statement, income statement, and balance sheet. This section should clearly demonstrate the salon’s potential profitability and financial viability.

Also, outline your pricing strategy. How have you priced your services and products, and how do these prices compare with competitors? What are your wage costs, and how will they affect your profitability?

7. Appendix

The appendix includes any additional supporting documents that complement your business plan. This might be market research data, lease agreements, employee contracts, or licensing and permit documents.

While not always necessary, the appendix can provide valuable context and proof to support your business plan’s content.

  • Crafting a Successful Salon Business Plan: Key Considerations

Understanding your target clientele’s needs is crucial to writing a hair or beauty salon business plan that you can put into action. To ensure your business plan is the foundation of a growing operation rather than just checking boxes, ask yourself whether you’re taking these considerations into account.

1. Comprehensive Services Offering

In the beauty industry, customer preferences vary significantly, and staying versatile in your offerings can help cater to a broader clientele. Include a wide range of services that cater to different demographics. You may also consider offering unique or specialized services that distinguish your salon from others.

2. Pricing Strategy

Pricing can make or break your salon. Competitive pricing attracts customers, but your pricing should also cover your costs and ensure profitability. Effective market research can help you understand the average cost of services in your area, which you can use to set your prices competitively.

3. Salon Atmosphere

The ambiance of a salon plays a significant role in attracting and retaining customers. Consider factors like décor, cleanliness, and customer service when planning your salon.

4. Staff Training and Expertise

Quality service is crucial in the hair and beauty industry since word-of-mouth exposure from existing clients is a major driver of new business. Investing in ongoing staff training ensures that your team stays updated with the latest trends, techniques, and customer service skills.

5. Digital Presence

Although word of mouth is one business driver, many of today’s customers research online before visiting a salon. Having a strong online presence, including a well-designed website, effective search engine optimization and active social media accounts, can significantly boost your business.

  • Download your free hair and beauty salon sample business plan PDF

Download this  hair and beauty salon sample business plan PDF  for free right now, or visit Bplans’ gallery of more than  550 sample business plans  if you’re looking for more options.

There are  plenty of reasons  salon business owners can benefit from  writing a business plan —you’ll need one if you’re seeking a loan or investment.

Even if you’re not seeking funding, the process of thinking through every aspect of your business will help you make sure you’re not overlooking anything critical as you grow.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Content Author: Elon Glucklich

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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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.

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beauty service business plan

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.

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.

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.

Start your 14-day free trial with GlossGenius today!

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Beauty Salon Business Plan PDF Example

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  • February 28, 2024
  • Business Plan

The business plan template of a beauty salon

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.

The business plan template of a beauty salon

Beauty Salon Business Plan

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.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Beauty Salon Business Plan exec summary

Dive deeper into Executive Summary

Business Overview

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.

Make sure to cover here _ Salon & Location _ Treatments & Pricing

beauty service business plan

Market Overview

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.

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.

Following this, delve into the competitive landscape, which spans from luxury beauty salons to more affordable options, including the burgeoning market for niche services like vegan or organic beauty treatments. For example, describe how your salon differentiates itself with a unique service offering , expertise in specific beauty treatments, or a commitment to sustainability. This section will help you to clearly define the demand for beauty salon services, outline the competition, and identify your salon’s unique place in the market.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

hair salon business plan market overview

Dive deeper into Key competitors

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).

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.

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.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

hair salon business plan strategy

Dive deeper into SWOT

Dive deeper into Marketing Plan

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.

hair salon business plan management

Financial Plan

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

hair salon business plan financial plan

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

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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.

Image covers differences between mission statement and vision statement.

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.

Image defines strengths, weaknesses, opportunities, and threats (SWOT) for 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.

beauty service business plan

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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How to Create an Effective Beauty Salon Business Plan

Jovana Smoljanovic Tucakov

  • July 5, 2023
  • For Salon Owners

an illustration of beauty salon employees working with clients

The beauty salon business plan is like your secret weapon for effective management and planning. It’s the ultimate tool that helps you and your team develop smart strategies and stay on top of things.

Many in the industry think that all you need is sheer motivation to succeed. Well, while having a strong passion for your salon is crucial, motivation alone won’t cut it. There are other super important factors you should consider if you want your business to thrive. And that’s where a killer salon business plan comes in handy.

This guide is going to walk you through the process of writing a document that perfectly fits your operational needs. You’ll also dive into all the different elements that make up a business plan and see why they’re so important for your salon.

But first, let’s see why having a thorough business plan is an absolute must.

Why You Need a Business Plan

A business plan is like the ultimate snapshot of your salon’s identity. It gives you the data on everything, from your mission statement and business model to where you fit in the market and who your target customers are. And let’s not forget about the financial aspect and your goals – it’s all in there.

A business plan is not just a boring piece of paper. It’s like a detailed map that’ll guide you through the wild world of the salon industry.

One of the best things about having a business plan is that it helps you keep tabs on how you’re doing. It’s like having a built-in performance tracker that lets you make those necessary tweaks with precision. What’s more, it’s not just for your own benefit. Potential investors find it useful too. They use your plan to figure out what you’re all about and if you’re worth investing in.

Keep in mind that this plan isn’t set in stone. It’s a living, breathing document that grows with your salon . It adjusts to the ever-changing market and keeps up with your goals, so you can make informed decisions along the way.

The Different Types of Beauty Salons

If you are starting a new salon, you should know where to position your business within the industry. There are many existing salon business types according to their beauty products and service offerings:

  • Full-Service Salons : These are the jack-of-all-trades in the beauty industry. Full-service salons offer a wide range of services, including haircuts, styling, coloring, manicures, pedicures, facials, waxing, and more. They aim to provide a one-stop shop for all your beauty needs.
  • Hair Salons : As the name suggests, these salons specialize in all things hair-related. From trendy haircuts and styling to hair coloring, highlights, extensions, and treatments, hair salons are the go-to places for fabulous locks. Some hair salons may also offer additional services like blowouts and scalp treatments.
  • Nail Salons : If you’re all about nail art, manicures, and pedicures, nail salons are your haven. These salons focus on providing expert nail care, including nail shaping, polishing, gel manicures, acrylic nails, and intricate nail designs.
  • Spa Salons : Spa salons take relaxation and rejuvenation to a whole new level. These upscale establishments offer a range of spa services, such as massages, body treatments, facials, aromatherapy, sauna sessions, and more. They create a serene ambiance where you can unwind and indulge in self-care.
  • Barbershops : Barbershops cater specifically to men’s grooming needs. From classic haircuts and beard trims to hot towel shaves and grooming products, barbershops provide a masculine and welcoming environment for gentlemen to spruce up their style.
  • Specialty Salons : Within the beauty industry, you’ll find specialty salons that focus on specific services. For example, there are eyelash extension salons, eyebrow shaping and threading salons, tanning salons, and even salons specializing in specific ethnic hair types. These salons hone their expertise in a particular area, delivering exceptional results.

When it comes to pricing, you need to decide which segment you want to be part of:

Budget segment : This is all about catering to price-conscious customers who are looking for affordable options. You keep your prices reasonable and offer quality services without breaking the bank.

Mid-Range segment : This is where you strike a balance between affordability and a touch of upscale charm. Your prices are a bit higher than the budget segment, but you offer more luxurious experiences and better-quality products. You cater to customers who want a little extra pampering without going overboard on the budget.

Luxury segment : If you’re all about the high-end, luxurious experience, this is your domain. You offer premium services and top-notch products and create an atmosphere of opulence and indulgence. Your prices are on the higher side, but you attract clients who are willing to splurge for a truly extraordinary beauty experience.

Remember, each segment has its own customer base and positioning. It’s important to understand your target market and what they value. Consider factors like location, competition, and the demographics of your area when making your decision.

How to Write a Winning Beauty Salon Business Plan

illustration of a business plan

Image by rawpixel.com on Freepik

Balance is crucial when writing a business plan. You don’t want it to be super long, but you also need to make sure it covers all the important points in an easy-to-understand way.

Beauty salon plans are a bit unique compared to plans in other industries because there are a whole lot of services and products involved.

Every beauty salon business plan should include:

Executive summary

  • Business description
  • Salon history & brand story

Market analysis

Marketing plan, management team and internal structure, detailed financial plan.

Surprisingly, the element that appears first in your business plan is the one you should write last. This section summarizes the document’s content on a single page.

Private investors might judge your business model solely based on the executive summary, so it needs to be right on point. Share all the highlights and the compelling facts and show the investors why your business model is a winner and why they absolutely need to get on board.

Beauty salon business description

This section is all about giving your salon business a proper introduction. Share what motivates you, the problems you’re here to solve, and how you plan to tackle them head-on.

Explain your geographic area and its advantages. Tell them about the advantages of your location. Is it a prime spot with lots of foot traffic? Does it have a funky vibe that’ll attract the cool kids? Dive into the nitty-gritty of the place itself – its layout, equipment, and all the possibilities it holds.

Detail your schedule plans and the type of salon services you will provide. Are you going to be open seven days a week, ready to glam people up whenever they need it? Will you offer special services like late-night appointments or early-morning pick-me-ups?

Likewise, clarify your legal structure and explain why you became a sole proprietor or opted for a Limited Liability Company (LLC).

Salon history and brand story

For an existing salon business, the business plan should cover its history and explain its foundations.

So, let’s start with the history of your salon. How did it all begin? Was it a wild idea that sparked one day? Did it start from humble beginnings and grow into something amazing? Share the journey and let them know the story behind your salon’s success.

Your brand story is when you make everything personal. Talk about why you started this salon adventure. What inspired you? What are the values and vibes that make your brand unique? Connect with them on an emotional level and let them feel the passion that drives your salon.

This is where you dive deep into the beauty industry and figure out your niche or segment . Now’s the perfect time to describe your target customers. Who are they? What makes them tick? Get inside their heads and understand what they’re looking for in a salon. This is how you’ll know exactly how to cater to their beauty needs.

Also, it’s time to perform proper competitor analysis . Check out what others in the beauty game are doing. What services are they offering? How are they attracting customers? This way, you’ll know what makes you stand out and how to outshine the rest.

Armed with all this knowledge, you’ll show the world that you’ve got a solid grip on your positioning. You know exactly where you fit in the beauty universe and how to make your mark.

And then you’ll use all this research to craft your Unique Selling Propositions . It’s like your secret weapon, your special charm that makes customers go, “Wow, this is the perfect salon for me!”. You’ll highlight what makes you unique and what makes you the best choice out there.

The marketing plan presents your unique selling propositions and defines clear promotion strategies. What makes you unique? What makes you the go-to spot for all things beauty? You need to highlight your USPs.

Also, you need to figure out which channels you’re going to use to reach your target audience. Social media? Email campaigns? Maybe even go old-school and rock some print ads. It’s all about finding the best ways to connect with your clients .

Additionally, introduce your marketing expenses budget and establish performance tracking criteria. Set a budget and keep track of your progress to make sure you’re on the right track.

A clear management hierarchy is essential for your business plan and model. Everyone on your team should know their roles and who they answer to.

Go beyond just talking about the number of employees you have or need. Instead, explain your team’s strengths and accomplishments to justify your management structure.

You’ll need a solid financial plan to raise funding from public institutions or investors. This plan helps you make accurate financial projections, whether you’re using your own funds or dealing with loan payments.

The financial plan includes the income statement , the balance , and the cash flow statement . You can add complementary documents like the break-even point and the break-even analysis.

The Essential Documents You Need To Open a New Beauty Salon

Beauty salons must ensure compliance with local laws and industry-specific regulations. Although these regulations and licenses can be a bit confusing, they’re super important for your salon’s success.

The Ultimate Checklist You Need to Open Your Salon

Get Trafft’s FREE & PRINTABLE step-by-step opening a beauty salon checklist every salon owner needs.

Bonus: Discover 5 essential steps to building a successful beauty salon

beauty service business plan

Here are the seven documents you need to have if you want to open your beauty salon :

  • The Salon Business Plan: this is the first document that guides your whole operation. It’s the key to building a sturdy, scalable, and sustainable beauty salon. Plus, it helps you secure that funding from lenders and angel investors.
  • The Cosmetology License: it varies depending on where you’re located and what services you offer. You’ll need different licenses for spa services, nail art and care, and hair salon services. Check with the local Licensing Division to make sure you got all the right permits.
  • The Tax ID: this is the number you get from the Internal Revenue Service (IRS). With it, you report your income and all the expenses for tax purposes.
  • The Business License: this is a must-have for all local businesses. It enables you to offer hair and skin care services as a professional activity.
  • The Employer Identification Number (EIN): It allows you to register your salon business, hire employees, and file taxes. You can apply for it through the IRS platform.
  • The Certificate of Occupancy: It guarantees that your location is safe and up to code. It confirms that it complies with all the necessary building and security regulations.
  • The Retail Seller Permit: This is for all beauty entrepreneurs who want to sell some cosmetic products alongside their services.

These are the crucial documents you need before you can open your salon doors to the public. However, there are some other permits, licenses, and qualifications that you need to have as a beauty salon owner. Just remember that requirements may vary depending on where you’re located and the specific beauty services you offer. So, don’t forget to check in with your local community authorities for any extra licenses and regulations.

The Significance of Thorough Market Research

Marketers with magnifier research marketing opportunities chart. Marketing research, marketing analysis, market opportunities and problems concept. Bright vibrant violet vector isolated illustration

Image by vectorjuice on Freepik

Market research is the first big step you need to take in any industry. It’s like putting on your detective hat and digging deep to understand what’s going on out there. It gives you a comprehensive market perspective and helps you understand its latest trends and needs.

Check out the local community and see what they’re into. What’s the supply and demand looking like? Get the full picture!

Once you’ve got a handle on things, it’s time to make some assumptions to position yourself just right in that market. Maybe the beauty trends are pointing towards a need for a full-service beauty salon, or perhaps there’s a niche waiting to be filled, like an artsy nail salon.

Moreover, you need to take a careful look at your competitors, their offerings, and pricing practices. If you notice that everyone’s focused on hair salon services, here’s your chance to stand out. You can emphasize skincare or nail services and give your customers something they can’t find anywhere else.

This market research is about getting to know your target market inside and out . Get to know your clients, understand their pain points, and discover what they’re willing to spend. This way, you can craft a winning marketing strategy that’ll grab their attention and keep them coming back for more.

And here’s a bonus tip : start looking into potential partnerships. It’s all about building connections and working with suppliers and other professionals. By doing so, you’ll make those connections early on, pave the way for smooth negotiations, and even score some sweet deals. Plus, it’ll expand your network and open up exciting opportunities.

How Much Is It Going to Cost to Open a Beauty Salon?

When starting a beauty salon business, you should know the expenses involved in the process . Some of them might vary according to your activity, services, opening hours, and team. Still, most are predictable or even stagnant.

We’re going to break down those expenses, so you know exactly what you’re getting into:

  • Rent: the rent rate can suffer some changes with time, but it is usually a regular cost. Its value can vary depending on where you’re located and the size and condition of the place. Do a quick online search to get an idea of the average amount you’ll be paying each month.
  • Licenses and permits: most licenses and essential documents come with a cost. You should expect to spend at least $1000 – legality and safety are not cheap at all.
  • Insurance: You have to protect your salon, your equipment, your services, and your workers. That means you’ll need different kinds of insurance coverage. The fees can add up to a few hundred dollars a month.
  • Equipment: to start working, you must own proper equipment like chairs, mirrors, and trade-specific tools that make your salon shine.
  • Inventory: whether you’re planning to sell cosmetic products or not, you’ll need some inventory. A hair salon needs shampoo, conditioner, and hair colors, while a spa craves massage oils, cleansers, and masks. That initial inventory can be a bit pricey, totaling a few thousand dollars.
  • Marketing: set aside a marketing budget to spread the word about your fabulous salon and fuel growth.

Picking the Best Location

An excellent location is like the holy grail of salon success.

First things first, when it comes to picking the perfect location, you should think about your target market. You want a place that catches their eye. Think about convenience – easy access by foot, car, or public transportation is key. And having nearby parking is a big bonus. You don’t want your clients circling the block for hours, right?

Some popular spots for beauty salons are near shopping centers or bustling commerce streets. You want to be where the action is, where people are already out and about, ready for some splurging. Essentially, it’s all about that foot traffic.

And let’s not forget about branding. Your location should match the vibe and identity of your salon. Think about the local scene, the seasonality, and what people in the area like. Be in sync with their tastes and preferences.

Buying or renting

Now, the big question: to buy or to rent?

Buying gives you the freedom to renovate and make the place truly yours. But it’s a bigger investment, so you got to commit for the long haul. On the flip side, renting gives you more flexibility to move around if things change. Plus, some rentals come with equipment and licenses already set up. Just be ready to meet the landlord’s requirements and you’re good to go.

Hiring the Right Team

beauty salon employees showing their skills

Image by macrovector on Freepik

Let’s talk about building your dream team for your beauty salon. Make sure you’ve got the right people with the right skills to create that magical salon experience for your clients.

First things first, set some hiring practices and standards. You need people who complement each other, like the perfect puzzle pieces. They should have top-notch customer service skills and be able to create a friendly and welcoming atmosphere in the salon.

You also want each team member to be passionate about the beauty industry and committed to making your salon a roaring success.

Here are some common positions you might hire for:

  • The Receptionist : This superstar is the first face your clients see when they walk through the door. They handle appointments, greet everyone with a warm smile, and make sure the payment process goes smoothly.
  • The Esthetician : These skin-savvy pros specialize in skincare, offering fabulous facials, relaxing massages, and waxing services.
  • The Hairstylist : These hair wizards work their magic with scissors, treatments, styling, and coloring. They’re the ones who can turn a dull haircut into a head-turning masterpiece.
  • The Nail Technician : These nail artists are all about pampering fingers and toes. They’ll give manicures and pedicures and can create some jaw-dropping nail art.

Develop an Effective Marketing Strategy

Business plans include a detailed marketing strategy that helps promote a beauty salon business and its services efficiently.

One of the best approaches to marketing is to combine different methods in order to reach your specific target market. Embracing a broad range of publicity efforts increases your chances of success. Also, it strengthens relationships with existing clients and attracts new ones.

So here are four fantastic marketing approaches to get your salon the attention it deserves:

  • Print ed advertising has been popular for centuries and still gets excellent results. You can publish ads in local newspapers, magazines, or outdoor billboards. Flyers and business cards placed in strategic locations also help spread awareness of your brand.
  • Invest in online tactics by consistently using social media and creating a website for your beauty salon. This strategy broadens your audience. It improves customer service through online bookings and payment processing. Besides, it’s easily trackable and flexible to your marketing goals and needs.
  • Another efficient technique is establishing customer engagement strategies, like exclusive business events. Doing so helps you retain clients and build an active community.
  • Finally, you can trust word-of-mouth to elevate your beauty salon business. Ensure an impeccable customer experience every time and you’ll have clients lining up at your door.

Set a Budget for Time-Saving Tools and Software

Let’s talk about optimizing your salon’s operations and saving some precious time and energy.

Running a beauty salon can get pretty hectic, so why not invest in some handy tools and software to make your life easier? It’s a great idea to set aside a budget specifically for time-saving tools and beauty salon scheduling software . Trust us, it’s a smart move that’ll pay off in the long run.

And when it comes to finding the perfect software for your beauty salon, let us introduce you to a real gem called Trafft .

Trafft is like your secret weapon for efficient management. It’s a comprehensive software solution that’s got your back when it comes to handling bookings, customers, employees, and finances. No more juggling spreadsheets or dealing with clunky systems – with Trafft, you can streamline your operations and keep everything in check with just a few clicks.

trafft beauty salon booking and management solution

You can apply Trafft to various aspects of your salon operations:

  • Customer service: Trafft allows you to add a booking feature to your website that automatically updates your schedule. You no longer have to struggle with complicated scheduling processes, overbooking, or double-booking issues. Plus, it even handles online payments, sends out appointment reminders, and helps you manage your client base.
  • Performance tracking: Trafft helps you keep an eye on those important Key Performance Indicators (KPIs). You’ll have reliable insights into how your salon is doing in different departments. It’s like having your own personal performance tracker, guiding you to make smart business decisions and optimize your strategies.
  • Marketing: Trafft provides exceptional booking experience, smooths client communications, and helps you build captivating loyalty programs.

So, if you’re ready to level up your beauty salon business, you better give Trafft a try .

How to Calculate Your Return On Investment (ROI)

Along with the Executive Summary, the Financial Plan is the most vital part of your beauty salon business plan. Thus, take extra care and attention when composing it.

One key metric to keep your eye on is the Return On Investment (ROI). This metric helps you assess your business performance. It shows you how profitable your beauty salon was during a given period. You can use it to evaluate the efficiency of your current policies and strategies and make adjustments if needed.

To calculate it, you subtract your initial investment from its final value and then divide that number by the cost of the investment. Finally, multiply that amount by 100 to get a percentage.

FAQ on Creating a Beauty Salon Business Plan

What’s the scoop on beauty salon business plans.

Creating a salon business plan is like painting a picture of your future salon. It’s about deciding on your style, your vibe, and your unique offering. It’s like choosing the right color palette, deciding on the decor, and creating a welcoming environment.

A business plan helps you make informed decisions, avoid costly mistakes, and increase your chances of success.

How do I dive into making a business plan?

Before diving in, take a step back. Think about your vision, your target audience, your services. Start your business plan with an executive summary – it’s like the homepage of a website. Keep it short, precise, and inviting. Then delve into the nitty-gritty: company description, market analysis, organization and management structure, and so on.

Where do I get market info for my plan?

Market research is like user research for web design. It’s about understanding your customer – their needs, desires, and behaviors.

You can gather information from industry reports, beauty magazines, social media trends, competitor analysis, and customer surveys. There are also online resources like Statista and IBISWorld .

What’s the deal with financial projections?

Your financial projections are like the back end of a website – crucial but unseen by customers. They include forecasts of your sales, expenses, and profitability.

You’ll need to understand basic accounting or hire someone who does. And remember, be realistic with your numbers.

How should I tackle competition in my plan?

Recognizing competition is essential, just like in web design where you study other websites. Identify your main competitors, understand their strengths and weaknesses, and define what makes you different. That’s your competitive advantage.

What should go into the services section of my plan?

Your services are like the features of a website – they need to be user-friendly and valuable. List the services you plan to offer, their prices, and why they meet your customers’ needs.

Explain how they differ from your competitors’ services.

How does the staffing plan fit into this?

Think of your team as the developers and designers of a website. They bring your vision to life. Detail how many staff you need, their roles, and the skills required.

Also, outline your plans for hiring and training.

Do I need to include a marketing and sales strategy?

Absolutely! It’s like SEO for your website, you need a strategy to drive traffic . Your marketing plan should detail how you’ll attract and retain customers.

Will you use social media, flyers, or partnerships with other local businesses?

How do I end my business plan?

Wrap up your business plan with an appendix. It’s like the footer of a website, where you can include additional information.

This could be your salon license, lease agreement, resumes of key staff, or photos of your products.

What if my plan needs changes along the way?

Just as websites need updates and maintenance, your business plan is not a one-and-done deal. As your business grows, your plan will need to evolve.

It’s your plan, so revisit and revise it as needed. Remember, it’s okay to change your plan.

So, How to Craft an Excellent Beauty Salon Business Plan?

A beauty salon business plan is one of the keys to ensuring your operation thrives. It is a living document that accompanies your salon’s growth and helps you define purposeful strategies.

Thorough market research will provide a sturdy base for your plan. Remember to analyze both your target audience and competitors and specify your positioning. That information will be crucial if you want your marketing to be effective.

Then, use various techniques in your promotion efforts to maximize your brand visibility. Build a team of highly-qualified and passionate people with premium customer service in mind.

Finally, implement tools like Trafft to support efficient management and optimize your operation. With these tips, you can write a winning business plan that sets your salon up for success.

If you enjoyed reading this article about creating a successful beauty salon business plan, you should read these as well:

  • How to Make Your Salon More Profitable With Trafft
  • 23 Paid & Free Salon Marketing Tools Every Owner Should Use
  • How Much Do Beauty Salon Owners Make

Jovana Smoljanovic Tucakov

  • 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 Write a Successful Beauty Salon Business Plan

By team zeller.

How to Write a Successful Beauty Salon Business Plan

Discover the critical components to include in your salon business plan.

A business plan is far more than a simple document. Think of it as your pathway to business success. A salon business plan will help you outline and achieve your goals — whether that’s to start a salon from scratch, grow your business to new heights, or even expand into more specialised, complimentary markets. It’s a resource you can rely on every time you need to make a strategic business decision.  

Writing a business plan doesn’t have to be difficult. You don’t need an accounting degree or an MBA to create a useful plan for your salon. Instead, this guide will show you how to write one from scratch without the complexity.

Why you need a business plan for your salon

There are lots of good reasons why you should write a business plan for your hair or nail salon.

No matter what type of business you run, it pays to have a solid understanding of your industry, your market, and how your business fits into the competitive landscape. Preparing a business plan forces you to meticulously and objectively assess the strengths and weaknesses of your business, and can help keep you on the right path to making smarter business decisions. 

A business plan also provides your business with direction and structure to grow. As an entrepreneur, chances are you won’t be short of new ideas and opportunities. Sometimes the challenge lies in knowing which ones you should pursue. Some ideas are distractions. Others are money making growth opportunities. Having an up-to-date business plan , which includes your overarching business goals, will make it easier to identify which ideas are worth exploring. 

Starting a salon business plan

The key is to remember that your business plan is a living document. It will grow and evolve with your business. For that reason, It pays to start broad — documenting the bigger picture behind your business — before diving into the specific strategies which may change over time. 

Here are some things to consider.

Understanding what you hope to achieve with your business plan will help guide the content within it. Are you looking to create a blueprint for expanding your salon business in another location? Perhaps your aim is to attract investors, or win over a business partner? 

Whatever the objective, understanding the purpose of the document will help guide the contents.

Is your business idea financially feasible? It is important to be realistic about the likelihood of business success. This requires research. If you’ve run a business before, then you’ve likely already crunched the numbers. If you’re new to business, it pays to ask for professional advice. The Hair and Beauty Australian Industry Association, a not-for-profit body, can be a great source of operational, industrial and compliance advice for salon owners.

Once you’ve established that your business idea has legs, you’re almost ready to start writing your business plan. Before putting pen to paper, it’s important to do two things

  • Set some tangible goals for your business Whether your goal is to see a certain number of clients every month, or to upsell a certain volume of products, it pays to identify these goals early, and incorporate these into your business plan. This will give you the metrics you need to track progress over time.
  • Recognise the threats and opportunities for success Every business comes with a level of risk but being aware of these can help to minimise their impact on your business, or better still, turn threats into opportunities. Acknowledging potential challenges early means you have a better change of circumnavigating them or reducing their impact on your business as they arise. 

Essential components of your business plan

There are plenty of templates that you can use to prepare your business plan. Here are some key elements that you should consider when preparing a business plan for the opening of your salon. 

Executive summary

Though the executive summary sits at the beginning of your business plan, it is generally the last thing to be written as it summarises the key components of your business plan. 

Remember, your business plan may come in handy for attracting business partners, securing investment or getting business finance approval. Use the executive summary as an opportunity to provide a compelling snapshot of your business — make it engaging and highlight how you plan to make it a success. 

Business Overview

This section should provide key information about your business. What kind of salon are you running — and is it full-service, or niche? What makes it different from other salons in the area? Use this section to highlight your point of difference, and how your experience and expertise will contribute to the business’s success. 

You should also use this section of the business plan to describe where you plan to run your salon, the size and scale of the premises, and any local amenities (such as parking or access to public transport) that would make your salon appealing to your target audience. This information will come in handy when it comes time to consider marketing your business, as you’ll need to know how much foot traffic your salon will be exposed to. 

Finally, in this section you should also introduce your start-up plan and budget. This should identify any start-up capital you require to secure your premises and set up the salon, and how you plan to fund this set up. 

Products and Services

Whether you’re opening a full-service day spa, or delivering a specialised niche service like nail art, this section of your business plan should outline the products and services you plan to offer your customers. 

Consider things like customer demand for certain items, and whether your competitors provide a similar service. What are the costs associated with delivering these services? Are your prices reasonable, and within customer expectations?

If retail sales are part of your business strategy, consider how you will drive demand and sales to support your business goals. Will there be an incentive-based scheme to encourage staff to sell more products? Will product sales form part of staff KPIs? How will you train staff to sell without impacting the salon experience? 

Customer and Marketing Strategy

Your business plan should also outline your marketing strategy, which hinges on your customer.

Outline your customer persona and what makes them seek out your salon products and services. Are they looking for a high-end, luxury experience, or are they after affordable, no-frills solutions? Perhaps they’re after express services that can be fit into a lunch break? 

Once you know your target market and what will attract them to your salon, you’re in a strong position to market your business. Your plan should identify the best way to attract customers to the salon. 

Here are some strategies that you might consider:

  • a referral program which rewards customers or other businesses who recommend your salon
  • paid advertising in local press
  • street signage
  • promotional discounts for new customers
  • content marketing via social media and other channels
  • set up your Google My Business listing

Make sure to outline a realistic budget for how much you are prepared to spend to attract new clients to your salon.

Operations and Personnel 

How many stylists will it take to achieve your business vision? Will they be staff members, or contractors? Apprentices or seniors? Your personnel plan should outline your staffing requirements (including things like salaries) and trigger points for increasing your staffing numbers as your business grows. 

Your business plan should also outline what equipment you’ll need to run your salon efficiently and profitably. This could include hairstyling chairs and equipment like scissors, as well as business and financial tools , such as booking software and an EFTPOS machine . 

Financial Plan

Preparing a financial plan can be one of the more daunting elements of writing a business plan, but it is also one of the most critical. If your goal is to create a profitable, sustainable long-term business, then having a clear plan for how you will generate income is essential. 

As part of your financial plan, you should identify and explain any assumptions about your financials, including any expectations for estimated sales — considering both the cost of goods and expected revenue growth over time. You should also outline your plan for breaking even, managing cash flow and projected profit and loss for the short-to-medium term of your salon. 

Getting started with your business plan

When it comes to opening your own beauty salon, it pays to prepare for success with careful and considered planning. Seek advice from experts and peers in the beauty industry on what to include, and how to structure your business to safeguard your profitability and encourage growth over time. Most importantly, don’t worry if the first draft isn’t perfect. 

A business plan is a critical first step in consolidating your ideas, and laying out a blueprint for growing your salon. Yet business plans are designed to be living, breathing documents that should evolve over time as your business grows, new consumer trends emerge, and industry shifts occur. Committing a business plan to paper is just the first step.

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How To Write the Perfect Salon Business Plan for Your Salon in Just 7 Simple Steps

How to write the perfect salon business plan for a salon

The US salon industry includes more than 80,000 establishments with a combined annual revenue of about $532 billion. So opening a salon, and owning a salon business is a pretty safe bet; it’s steady and profitable . But lack of proper planning makes it difficult to juggle all the aspects of your business, starting from marketing and sales, to accounting, and whatnot. 

Here’s a quick tip! Searched all over the internet for concrete information on how to open your own salon? Confused? Don’t worry, we’ve got you covered! Check out this blog on opening your own salon business that gives you a comprehensive 10 step guide to help you get started now.

Writing a properly structured salon business plan is crucial to guarantee your salon’s success in this highly competitive market. Whether you’re wanting to secure a business loan for your salon or trying to expand or reinvent your salon business, a business plan for your salon will help you get there.

So how exactly would a business plan help you?

  • A business plan will help you to figure out what you want your salon to offer, where you aim to take your salon’s growth, what kind of people you want to cater to, and who you’re competing against . 
  • If you are looking for investment from private investors, banks, or any other lending institutions or public grants, structuring a business plan is crucial. 
  • A business plan will help boost your salon business’s productivity through improved oversight and direction, and help you make informed decisions.
  • As your salon business starts to grow and gain clientele, a well-developed business plan can help you acquire the capital needed to expand to new locations.

How to make the perfect business plan for your salon business?

Whipping up a perfect business plan can be pretty daunting because it needs to be immaculate. No worries! Here we’ve broken down the entire process into 7 easy-to-follow , foolproof steps, along with their templates, to help you create a successful salon business plan. 

  • Write a mission and vision statement
  • Create an executive summary
  • Analyze and identify your target market
  • Perform a competitor analysis
  • Write your salon’s business description
  • Make strategies for advertising and outreach marketing
  • Figure out your financial plan

Whether it’s a hairdressing salon business plan, a general beauty salon business plan, or even a  small salon business plan for opening a salon on your own from scratch, we’ve got you covered. This is a complete, comprehensive guide to help you in the process of making a business plan for a salon. It’ll give you a basic understanding of how to write a salon business plan in the easiest possible way. 

1. Write a mission and vision statement

I) mission statement .

It articulates the immediate purpose of your salon business. Under this, you can state all the short-term goals that you plan on achieving with your salon within 6 months , stretching up to a year.

Here’s how you can nail a perfect mission statement

  • Value – What is the value of your salon in the market? How can it help your clients? 
  • Inspiration – Why should people want to come to your salon?
  • Remember to make your mission statement sound plausible and reasonable . Also, make it specific and concise – clarify all your short-term goals and the timeframe within which you’re planning on achieving them. 

ii) Vision statement

 Now, where do you aim to take the salon’s growth in the next 5 years ? Well, if you’re dreaming, dream big! And you can be as ambitious as you want, the sky’s the limit. 

Setting strategies for a longer-term makes sure that you don’t stumble on the road to success. It makes the overall structure of your business stronger. It prepares you for anything that the fickle market demands from you and throws at you.

Here’s how you can write a perfect vision statement :

  • Review your long-term goals in a way that you can analyze how achieving your long-term goals could impact your business and the salon industry in general.
  • Derive how your clients could benefit from the visions that you would be implementing.
  • Your business’ end goals can drive your vision statement, For instance, if you’re planning to branch out to different locations after, say, 5 years, you can frame your vision statement in a way that states to make your salon a household name, popular in the neighboring areas and so on. 

2. Create an executive summary

After you write the mission and vision statements, you can summarize everything that you’re aiming to achieve with your salon under an Executive Summary. Whether you’re writing a business plan for a hair salon or a business plan for a beauty salon, you should be properly aware of what your intentions are with the salon. This section is the most important part of your business plan as it dictates the tone of your salon, and makes an impression. 

Remember to keep this section very brief and concise to give an overview, as you’ll be elaborating on these points in the later sections of your business plan. 

If you’re having trouble writing your salon’s executive summary, you can always write it after you’re done with all the other sections in the business plan . This will give you a better understanding of your salon business and help you succinctly put your points together to describe it. 

What can you do to write the most fitting executive summary for your salon?

  • Start by stating all the short-term goals that you plan on achieving within, say, 6 months or a year.  Remember to keep your goals realistic and feasible. 
  • Summarize your approach towards your business, to give an overview of how you will run things in your business.
  • Clearly and briefly express the value proposition of your salon, and how it would potentially position your business in your target market.

How to write your salon’s executive summary: A simple template

Divide your business summary into sections of opportunities and expectations, and put brief points in those subsections in the most convincing way. The following template can help you with this :

  • How are you trying to achieve recognition in your target market?
  • What is your salon’s tagline/motto?
  • What is your salon’s growth plan for the first 6 months after its launch?
  • Which demographic is your salon meant for?
  • How are your services aligned with your target market?
  • How many salons are there in the area of establishment of your salon?
  • What products and services do they offer?
  • What is the range of variation of their clientele?
  • What products and services is your salon offering?
  • What is the unique selling point of your business? For eg: If your salon is the only one in the area that offers holistic services with spiritual healing, then put it down as your differentiating point.
  • How are you different from your competitors? For eg: Is it the lower cost of services of your salon, or the vast range of services that make your salon stand out? 

Make sure you catch the eye of potential investors in the above section. Don’t forget to state how you can attract potential customers. 

  • What is the salon costing you? List down the projected expenses and costs that come from daily operations, rent, staff hiring, cosmetics, appliance expenditures, etc. for the first 6 months. 
  • What is the cash flow and how much profits are you bringing in for the initial 6 months? This is completely variable and the reaction of your target market to your salon decides this. So aligning your services with them is of utmost importance. 
  • Why does your salon need financing? For eg: you can convey that you’re trying to meet the anticipated growth of your salon in the market.

3. Analyze and identify your target market

Analyzing and defining a target market for your salon is very important as it goes hand in hand with your salon’s growth and outreach . 

A beauty salon can service all genders and age groups. Your target audience can include working professionals, college students and teenagers, homemakers, to-be-Brides, and even children. And each group will require different types of services.  So make sure you list down each individual section of your target market and what services they would require. 

Here’s a checklist to make sure you’re going the right way about it. 

Steps to analyze and identify your target market 

  • Find out what kind of people you think would resonate with your salon’s services the most. For example, if your salon offers low commitment (temporary) coloring services, you can get a lot of customer traffic from the millennials. 
  • As an extension to that, find out if your services are more inclined to serve a particular demographic better, or if you’re good with people of every demographic.
  • Keep up with the trends in the salon industry to know what’s hot and what’s passé.
  • Peek inside the brains of your target clients to know exactly what they want or like and tune your salon accordingly.

An easy-to-follow template to proceed with your target market analysis

  • Segregate the people in the market pool into different categories.

Do not forget these bases:

  • Personal income/occupation
  • List out the services that your salon would offer that would fit one or more of the stated categories above. 

For eg: If your salon offers Diamond Facial at $200.00, then you can list this service out as follows :

Target market checklist with service, age, gender, and income range

  • Use social media to get an understanding of the trends in the market at present. Join salon and beauty communities on Twitter, Facebook, and Reddit, and follow beauty bloggers on Youtube and Instagram. 
  • Look up the people who subscribe to or follow these beauty pages and beauty bloggers to identify which trends appeal to a certain demographic. You can tell a lot about your target market’s behavior from the posts they like and the thoughts they share in the comment section of these posts and videos.

4. Perform a competitor analysis 

With a great market demand, several strong competitors emerge. And we don’t want your salon to get lost in the sea of other salons now, do we? As it goes, keep your clients close but your competitors closer.

Figuring your competitors out gives you a necessary nudge in the right direction to take your business plan forward. It gives you an idea of what the other salons are practicing with their clients, and what gaps they’re leaving that you can fill up as you step into the salon business yourself. 

How do you analyze your competition?

  • Find out what the other salons in the area are doing successfully or poorly.
  • Get a rough idea of the cost of services that the competitor salons are offering. This helps you price the services for your salon.
  • Identify how many salons provide services that focus on a specific niche and do not serve a wide group of customers.
  • Find out the industry-specific challenges they are facing that you may also face while running your own salon.
  • Analyze what they can do differently to improve their situation, and implement it in your business mission plan to avoid facing such challenges yourself. 
  • Have your salon address these deficiencies in the market.

Follow these easy steps to perform your salon’s competitor analysis 

  • Visit your competitor salons’ websites.
  • Follow them on social media platforms (Facebook, Instagram, Linkedin) to get an idea of how much influence and reach they have. Check out who follows their social media page to get an idea of the target market as well.  
  • Sign up for any interactive sessions that these salons might conduct and check how other people respond to these sessions, to understand their grip and dominance on the market.  
  • Visit the other salons in the market as customers, to get an idea of their quality of services.

5. Write your salon’s business description

So now that you have your market and your competitors figured out, it’s time to work on your salon business . A beauty salon or a hair salon is fine, but what kind of salon do you want yours to be like? Setting a proper description for your business gives your salon a custom style and personality. 

Your business description should include an overview of the products and services that your salon would offer, and how your salon would stand out in the market. Setting a trademark vibe to your salon also helps with its brand image. 

To get started, you can answer the following questions :

  • Would you specialize in any particular service like nail art or bridal makeup? 
  • Would you want your services segmented for various types of clients?
  • What services would you want to offer in packages? 
  • Would you serve complimentary refreshments to the clients?
  • What theme are you going for with respect to interiors and ambiance (Japanese zen, tropical beach day, etc, etc)?
  • What would be your salon’s “it” factor that distinguishes it from the other salons in the area? 

Once you’re done with the salon’s description and personality, set a brand logo and a tagline to go with it. To get a professionally designed custom logo, you can always reach out to freelancers or companies that can do it for you, like 99designs . 

You can also use an online designing software like Canva to design your salon’s logo on your own. 

And that should complete the branding. 

Creating a business brand will prepare you to answer someone asking you “Why should I come to your Salon?” 

Remember to make your salon stand out, noticeable, and interesting.

6. Make strategies for advertising and outreach marketing 

Now you have to position your salon in the market in a way that makes people take an avid interest in “the new salon”. Your target audience will guide you towards the perfect approach to spread the word around about your salon. 

A simple guide to writing the marketing plan for your salon business :

  • Your salon should be Google-able. To show up in digital searches, make sure your business is listed in online directories.
  • Create a website or a mobile application for a better customer experience. 
  • It’s always better to spread out to all social media platforms to promote your business so that your customers (and other potential clients) can get to know you on a more personal level. Connect with your business community by following other small businesses in the area. Actively engage with your target market and share behind-the-scenes content (like before and after photos of clients’ haircuts) to build your credibility and cultivate brand awareness.
  • Partner up with other businesses that may share the same clientele as a salon would (like spa retreats) to offer coupons and vouchers, for outreach marketing.
  • Offer “first-service” discounts to your customers.
  • Keep service rates lower than the other salons in the area to attract clients. 
  • Once the rapport is established, and your clients trust you with the service quality, you can cut out the discounts. It is also very important that you optimize the discounts in a way that you don’t run into a complete loss, but we’ll get to that in a minute.
  • It is crucial to maintain the service quality to the highest degree after you start getting clients. Remember that your clients wear the marketing after they come out of your salon. This will definitely help you secure referrals from existing clients.

Marketing Tip! Want to pull off a great marketing campaign for your salon business but don’t know where to start? Do you feel like the marketing section in your business plan is incomplete? For more detailed marketing ideas for your salon, check out our blog on 7 hand-picked salon marketing ideas to boost your business .

7. Figure out your financial plan 

It’s time to play the number game. This is probably the trickiest part of writing a salon business plan because you have to be extremely careful while juggling your revenue and expenditure budget optimally. 

You don’t want to scare or throw off your customers by charging exorbitant prices for the services, but at the same time, you don’t want to crash and drown in debt yourself. Not to forget, cutting costs on cosmetics may affect the service quality. Cut hair, not costs!

Ergo, you need to have a proper financial plan for your salon. 

Writing a detailed financial plan will help you get a rough idea of how your salon would be progressing on a monthly/ yearly basis. Moreover, if you’re applying for a loan, your financial plan will determine your eligibility .

What can you do to create a solid financial plan for your salon?

Financial analysis of a salon business plan

  • It helps to bifurcate all the expenses into Fixed costs, and Variable costs. Then you can analyze your fixed costs and variable costs to set an optimal budget.

Fixed Costs: This section includes all the costs associated with your salon business that must be paid regardless of the customer traffic in your salon.

  • Rent or mortgage for the salon space.
  • Payroll for the employees you hire.
  • Equipment maintenance costs for hair spa and other services that are heavily equipment dependent.

Variable Costs : This section includes all the costs in your salon business that are directly associated with the customer traffic in your salon. 

  • Expenses of purchasing cosmetics and other salon supplies.
  • Electricity consumption by salon equipment. For eg: If you’re writing a hair salon business plan, make sure you include the electricity consumption by blow dryers, hair straighteners. 
  • Have a clear idea of how much discount you plan on putting on your services during the first few months of opening your salon, and for what duration you will be offering these discounts. Note that during the first few months of opening your salon, your sales are likely to be lower than your projections, and that’s completely okay.
  • Make a list of pros and cons for renting out space for your salon versus buying a place.
  • If you’re renting and wish to own the salon space, spot out a tentative date of when you’ll become capable of buying the place.
  • Figure out how many people you are going to hire in your staff, and how much salary you would be able to offer them. Note that you’ll have to improvise this according to how the customers respond to your salon.
  • Reach out to your local chamber of commerce to get more insights on funding and loans.
  • Tentatively figure out the time it will take you to break even, and start earning chunky profits.

Here’s an easy-to-follow template to proceed with your ‘financial plan’ section 

The following simple template can help you make the financial plan for your salon: 

i) Sales and revenue projections for the first five years :

Figure out how much you’ll charge for your services, and estimate how many services you may perform in a week. A periodic analysis of this over the next five years will give you the necessary projections. Put the details down in a spreadsheet to keep it organized. It also helps to collate all this information and analyze using bar graphs.

ii) Expenses’ budget :

Break down the expenditure of your salon for a given term, by referring to the “fixed and variable costs” list that you made. You can pick the term to be a month, a quarter, or a year long .

It’s a safer practice to stick to a month-long or a quarter-long term. You don’t want the budget analysis task to loom over you and become a burden. Not to forget, it keeps you in touch with the financial status of your salon business. 

iii) Estimated profit margins:

Accumulate the sales projections and budget report analysis to find out the profit for that term. Display the margins in pie charts or bar graphs for easy comprehension. 

iv) Liabilities:

Note all the losses that your salon business can possibly incur in the time period that you have defined as a term. For example, your blow dryers may stop functioning and need to be replaced.

Also include the factors that may stunt your business from growing. For example, you may be short on staff, or your nail salon is lacking an appointment scheduling and business management tool.

Various salon businesses that Appointy caters to

v) Cash flow statement:

Make a projected plan of cash flow-in and flow-out for your defined term, where you include cash flow from sources that are not directly related to your salon services or your salon business-related expenses. 

Include the cash flow from loans, loan payments, taxes, and personal funds that you used for your salon.

vi) Break-even analysis:

Predict the break-even point for the first five years of your business. Break-even is achieved when your salon business has covered all the expenses, and your sales surpass the expenditure costs. From that point on, your salon will start earning profits.

Other ways to create your financial plan :

Dealing with numbers can be tedious and scary, especially when you already have a lot of other things on your mind as a salon business owner. Moreover, documenting the financial projections yourself can be a pretty daunting task, especially because there’s no room for mistakes. 

Instead of making the document yourself, you can choose to consult professionals to help you write the perfect financial plan for your salon. 

  • Hire freelancers : You can collaborate with business plan consultants to make your financial plan. All you need to do is give them your salon’s budgetary estimates and inputs. 
  • Use Financial planning tools :  It asks you to enter all your financial information. They use built-in formulas to give you the most accurate financial statements that include all the charts and projections that an investor would expect to see in a business plan. 

Some important things to keep in mind :

  • Keep reviewing the target market, competitor analysis, and marketing and advertising strategies once every while, however frequently necessary.
  • Set realistic long-term goals that would be in sync with your current business performance. For example, you can think about branching out to two different locations after a few years. This will allow you to expand your local salon to an enterprise salon.

Go ahead with the pretty business plan 

An open sign

Executing a well-structured salon business should reap good-looking numbers. And the first step towards that is making a killer business plan for your salon.

It gives you the courage to place your faith in your business, and we don’t want you to doubt something you’re passionate about. Remember that you can convince the people in the market about all the great things your salon has to offer, only when you truly believe it yourself. 

So go on ahead, start creating your salon business plan today, and give your dreams a much-needed flight. Good luck :))

About Appointy We at Appointy, help business owners grow and run their businesses with our online scheduling software. This blog was a part of our ‘Manage your Business’ category, where we provide expert tips, and resources, or simply talk about the challenges that small and medium businesses face every day.  If you have any thoughts on this blog or would like to chat about your business struggles and achievements, let us know in the comments below.  We love a good talk!

25 comments

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How To Write a Beauty Business Plan + Template

Business-plan

Creating a business plan is essential for any business, but it can be especially helpful for beauty businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every beauty business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Beauty Business Plan?

A beauty business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Beauty Business Plan?

A beauty business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Beauty Business Plan

The following are the key components of a successful beauty business plan:

Executive Summary

The executive summary of a beauty business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

  • Start with a one-line description of your beauty company
  • Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your beauty business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your beauty firm, mention this.

You will also include information about your chosen beauty business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a beauty business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

  • What part of the beauty industry are you targeting?
  • How big is the market?
  • What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of a beauty business may include:

  • Women aged 16-35 who are looking for affordable beauty products
  • Women who want to apply their own makeup in a professional way
  • Busy women who want to save time by having their beauty routine done for them
  • Professional men who want their hair care and grooming done for them

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or beauty services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your beauty business may have:

  • Unique selling proposition (USP)
  • Affordable prices
  • Wide range of services offered
  • Quality products and services
  • Experienced and professional team

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

  • Product/Service : Detail your product/service offerings here. Document their features and benefits.
  • Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
  • Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
  • Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your beauty business via a PR campaign.

Operations Plan

This part of your beauty business plan should include the following information:

  • How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
  • What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a beauty business include reaching $X in sales. Other examples include adding new products or services, expanding to new locations, or hiring new personnel.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific beauty industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

  • Revenue : how much revenue you generate.
  • Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
  • Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Beauty Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

  • Assets : All of the things you own (including cash).
  • Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
  • Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Beauty Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

  • Cash Flow From Operations
  • Cash Flow From Investments
  • Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup beauty business.

Sample Cash Flow Statement for a Startup Beauty Business

You will also want to include an appendix section which will include:

  • Your complete financial projections
  • A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
  • Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your beauty company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

The goal of your business plan is to articulate a clear and concise message that will serve as your roadmap to success. A well-written business plan will also help you secure funding from investors, lenders, or other sources.   

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How to write a business plan for a beauty salon?

beauty salon business plan

Creating a business plan for a beauty salon is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating a beauty salon business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for a beauty salon?

  • What information is needed to create a business plan for a beauty salon?
  • What goes in the financial forecast for a beauty salon?
  • What goes in the written part of a beauty salon business plan?
  • What tool can I use to write my beauty salon business plan?

Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having a beauty salon business plan is so crucial.

To have a clear roadmap to grow the business

Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.

In this dynamic context, it's essential to have a clear roadmap for your beauty salon. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.

That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.

To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your beauty salon to be in the next three to five years.

Once you have a clear destination for your beauty salon, you'll focus on three key areas:

  • Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
  • Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
  • Risks: you'll identify and address potential risks you might encounter along the way.

By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.

To maintain visibility on future cash flows

Businesses can go for years without making a profit, but they go bust as soon as they run out of cash. That's why "cash is king", and maintaining visibility on your beauty salon's future cash flows is critical.

How do I do that? That's simple: you need an up-to-date financial forecast.

The good news is that your beauty salon business plan already contains a financial forecast (more on that later in this guide), so all you have to do is to keep it up-to-date.

To do this, you need to regularly compare the actual financial performance of your business to what was planned in your financial forecast, and adjust the forecast based on the current trajectory of your business.

Monitoring your beauty salon's financial health will enable you to identify potential financial problems (such as an unexpected cash shortfall) early and to put in place corrective measures. It will also allow you to detect and capitalize on potential growth opportunities (higher demand from a given segment of customers for example).

To secure financing

Whether you are a startup or an existing business, writing a detailed beauty salon business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your beauty salon has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for a beauty salon, let's take a look at what information is needed to create one.

Information needed to create a business plan for a beauty salon

Drafting a beauty salon business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for a beauty salon

Carrying out market research before writing a business plan for a beauty salon is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

You may find that customers prefer organic, natural beauty products, and may be willing to pay a premium for them. Additionally, research might reveal that customers might be looking for more affordable, quick treatments that can be done in-salon, such as express facials or microdermabrasion.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your beauty salon.

Developing the marketing plan for a beauty salon

Before delving into your beauty salon business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and capital expenditure requirements of a beauty salon

Whether you are starting or expanding a beauty salon, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

A beauty salon might incur staffing costs such as wages for a hairdresser, a beautician, and a receptionist. Additionally, they might have to purchase equipment such as hair clippers, hair dryers, and salon chairs. They may also need to purchase products such as shampoos, conditioners, and styling products.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your beauty salon, it is time to start creating your financial forecast.

What goes into your beauty salon's financial forecast?

The objective of the financial forecast of your beauty salon's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a beauty salon are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a beauty salon shows how much revenue and profit your business is expected to make in the future.

example of projected profit and loss statement in a beauty salon business plan

A healthy beauty salon's P&L statement should show:

  • Sales growing at (minimum) or above (better) inflation
  • Stable (minimum) or expanding (better) profit margins
  • A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established beauty salon.

The forecasted balance sheet of your beauty salon

The projected balance sheet of your beauty salon will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

  • Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
  • Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
  • Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

projected balance sheet in a beauty salon business plan example

Analysing your beauty salon projected balance sheet provides an understanding of your beauty salon's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your beauty salon's liquidity and solvency:

  • A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
  • A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your beauty salon has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your beauty salon business plan.

example of projected cash flow forecast in a beauty salon business plan

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

  • Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
  • Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
  • Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your beauty salon business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan, also known as a sources and uses table, is a valuable resource to have in your business plan when starting your beauty salon as it reveals the origins of the money needed to establish the business (sources) and how it will be allocated (uses).

beauty salon business plan: sources & uses example

Having this table helps show what costs are involved in setting up your beauty salon, how risks are shared between founders, investors and lenders, and what the starting cash position will be. This cash position needs to be sufficient to sustain operations until the business reaches a break-even point.

Now that you have a clear understanding of what goes into the financial forecast of your beauty salon business plan, let's shift our focus to the written part of the plan.

The written part of a beauty salon business plan

The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.

Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.

The written part of a beauty salon business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

The executive summary, the first section of your beauty salon's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.

To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.

Subsequently, provide an overview of your beauty salon's addressable market, highlighting current trends and potential growth opportunities.

Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Lastly, address any funding needs in the "ask" section of your executive summary.

2. The presentation of the company

As you build your beauty salon business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your beauty salon, you may emphasize its accessibility to potential customers. It could be located in a bustling area with plenty of foot traffic, as well as near public transportation hubs. You might also highlight the local amenities, such as shopping centers, restaurants, and entertainment venues, to demonstrate the potential for your beauty salon to draw customers from the surrounding area. Additionally, the local demographics could be a selling point, as you may be able to point to high incomes and a high concentration of people with disposable income as an indication of the potential success of your beauty salon.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your beauty salon business plan should include a detailed description of what your company sells to its customers. 

For example, your beauty salon may offer haircuts, hair coloring, and makeup services to its customers. Haircuts allow customers to obtain a new look that can help them to feel more confident and attractive. Hair coloring services can help customers to change their hair colors to better match their skin tone or to try a different look. Makeup services can help customers to enhance their facial features and to achieve a desired look.

The reader will want to understand what makes your beauty salon unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When outlining your market analysis in the beauty salon business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.

The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.

To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your beauty salon, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.

Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your beauty salon targets. Explain how your products and services are tailored to meet the unique needs of these customers.

For example, your target market might include young professional women. These women typically have a higher disposable income and are willing to invest in their personal beauty and appearance. They might look for services such as manicures, pedicures, facials, and hair care.

In the competition subsection, introduce your main competitors and explain what sets your beauty salon apart from them.

Finally, round off your market analysis by providing an overview of the main regulations that apply to your beauty salon.

5. The strategy section

When writing the strategy section of a business plan for your beauty salon, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your beauty salon could face the risk of theft. For instance, expensive equipment or products may be stolen, leaving your salon out of pocket and unable to operate. Additionally, you could face the risk of damage to your property. For instance, a fire or natural disaster could cause significant damage to your buildings, equipment, and products, making it difficult for you to continue operating.

6. The operations section

The operations of your beauty salon must be presented in detail in your business plan.

Begin by addressing your staff, specifying the main roles and your recruitment plan to support the anticipated growth. Outline the qualifications and experience needed for each role and discuss your recruitment strategies, which may involve using job boards, referrals, or headhunters.

Next, clearly state your beauty salon's operating hours, allowing the reader to gauge the adequacy of your staffing levels. Additionally, mention any considerations for varying opening times during peak seasons and your approach to handling customer queries outside regular operating hours.

The key assets and intellectual property (IP) required to run your business should also be highlighted. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, ensure they are well-documented in this section.

You may have key assets such as staff and equipment, which could be seen as intellectual property. Additionally, the beauty salon may also have a unique name, logo, or slogan that is associated with the business, as well as a unique selection of services and treatments that could be seen as part of the salon's intellectual property.

Finally, provide a comprehensive list of suppliers you intend to collaborate with, along with a breakdown of their services and main commercial terms, such as price, payment terms, break clauses and contract duration. Investors often seek insight into the reasons behind your supplier choices, which may include a preference for higher-quality products or established relationships from past ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we discussed earlier in this guide.

Now that you have a clear idea of what goes into a beauty salon business plan, let's look at some of the tools you can use to create yours efficiently.

What tool should I use to write my beauty salon's business plan?

In this section, we will be reviewing the two main options for writing a beauty salon business plan efficiently:

  • Using specialized software,
  • Outsourcing the drafting to the business plan writer.

Using an online business plan software for your beauty salon's business plan

Using online business planning software is the most efficient and modern way to create a beauty salon business plan.

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your beauty salon's business plan

Outsourcing your beauty salon business plan to a business plan writer can also be a viable option.

Business plan writers are skilled in creating error-free business plans and accurate financial forecasts. Moreover, hiring a consultant can save you valuable time, allowing you to focus on day-to-day business operations.

However, it's essential to be aware that hiring business plan writers will be expensive, as you're not only paying for their time but also the software they use and their profit margin.

Based on experience, you should budget at least £1.5k ($2.0k) excluding tax for a comprehensive business plan, and more if you require changes after initial discussions with lenders or investors.

Also, exercise caution when seeking investment. Investors prefer their funds to be directed towards business growth rather than spent on consulting fees. Therefore, the amount you spend on business plan writing services and other consulting services should be insignificant compared to the amount raised.

Keep in mind that one drawback is that you usually don't own the business plan itself; you only receive the output, while the actual document is saved in the consultant's business planning software. This can make it challenging to update the document without retaining the consultant's services.

For these reasons, carefully consider outsourcing your beauty salon business plan to a business plan writer, weighing the advantages and disadvantages of seeking outside assistance.

Why not create your beauty salon's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a beauty salon business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my beauty salon business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

  • Word processors don't include instructions and examples for each part of your business plan
  • Word processors don't update your numbers automatically when they change in your forecast
  • Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating a beauty salon business plan for some entrepreneurs, it is by far not the best or most efficient solution.

  • Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
  • A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
  • A business plan has 2 main parts: a financial forecast outlining the funding requirements of your beauty salon and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your beauty salon business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

  • How to write a business plan to secure a bank loan?
  • Key steps to write a business plan?
  • Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a beauty salon? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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BUSINESS STRATEGIES

A step-by-step guide on how to start a beauty business

  • Amanda Bellucco Chatham
  • Jun 16, 2023
  • 12 min read

how to start a beauty business

Ready to embark on your dream of starting a beauty business? Diving into the beauty space offers an exciting opportunity to be part of a thriving industry fueled by people's desire for self-care and personal expression (for other types, check out types of businesses ).

As of 2022, the global cosmetic market was valued at over $262 billion and it’s predicted to grow at a compound annual growth rate (CAGR) of 4.2% through 2030. The market’s healthy trajectory is due in part to constantly evolving beauty trends, new formulations and packaging, and a push for products that put sustainability at the forefront. With proper planning, your new beauty business has plenty of potential to thrive in this lucrative market.

So, whether you're looking to set up a business website , open a brick-and-mortar store or offer mobile beauty services, you're in the right place. This comprehensive guide will help you navigate the complexities of launching your beauty-related venture and lay the foundation for long-term success.

How to start a beauty business

Research and define your niche

Decide on a business model and concept

Decide on manufacturing strategy (if applicable)

Create a business plan

Pick a legal structure, then register and license your business

Create your website

Build your brand

Source and manage inventory

Provide excellent customer service

Promote your business

01. Research and define your niche

Let's start with the basics. To establish a beauty brand, it's crucial to understand your target audience. Researching and defining your niche or specific beauty business idea will set you up for success by differentiating you from competitors and attracting your target audience.

It's also important to understand that defining the right niche for your beauty business is an ongoing process. As your beauty business matures, stay open to adapting and refining your niche based on changing trends, emerging customer needs and industry developments.

Here are some methods to help you define your niche:

Identify your passions and expertise: Consider what aspects of beauty excite you the most, whether it's skincare, cosmetics, hair care, organic products or specialized services. For example, you might be passionate about bridal makeup, organic skincare treatments or men's grooming. Use your passion and knowledge to influence and build your niche. Looking to start a specific niche? Check out our guide to starting a nail business , as just one example.

Study the market: Research current trends, gaps and opportunities within the beauty industry. For example, analyze competitors within your geographic area or online space, and identify areas where they might be lacking. Consider fulfilling those unmet needs if they align with your business.

Define your target audience: Determine your ideal customers by considering demographics like age, gender, location and lifestyle. Additionally, delve into consumer preferences, interests and values. Understanding your target audience will help you tailor your products, services and marketing efforts to cater to their needs and desires.

Find a unique selling angle: Find a unique selling proposition (USP) that sets you apart from your competition and appeals to your target market. For example, you could offer personalized consultations, use all-natural or sustainable ingredients, provide specialized services or create a distinct brand identity.

Test and validate: Conduct surveys, interviews or focus groups with your target audience to gather feedback on your proposed offerings. This will help you fine-tune your niche to ensure it resonates with your potential customers.

02. Decide on a business model and concept

When you start a business , it's essential to focus on a specific business model or concept that best enables you to bring your chosen niche to life. At a basic level, there are two primary models to consider: a service business model or a product business model. But, they aren’t the only options you have to choose from.

Other popular beauty business concepts include:

Mobile services: Offer on-the-go beauty services, traveling to clients' locations for personalized treatments like hairstyling, makeup, manicures or facials. This model provides flexibility and convenience for customers who prefer on-location pampering.

Brand and product development: Create your own beauty brand and develop a unique line of products. This requires strategic product development, branding and marketing to stand out in the competitive market.

Dropship beauty supplies: Curate products from a dropshipper specializing in your niche. Dropshippers will handle storage, packaging and order fulfillment, allowing you to sell products without the need for upfront manufacturing or inventory.

Retail store: Open a physical retail store to showcase and sell a curated selection of skincare, cosmetics, hair care or other products tailored to your niche. Offer in-person consultations and demonstrations, and complement your store with an eCommerce website for global reach.

Check out this list of over 60 service business ideas for more inspiration.

Let's look at some real-life examples of companies within the beauty and cosmetics industry to better understand how your selected business model and concept might come together.

Bringing Beauty to You

bringing beauty to you website homepage

Nichole Alexis, licensed esthetician and owner of Bringing Beauty to You , offers various skincare services to both men and women within the Chicago area.

Business model: Service

Business concept: Personal beauty consultant

What this business does: Provide exceptional service and education, and guide clients to achieving healthy, radiant and beautiful skin—whether they choose to wear makeup or not.

MDRNbeauty is an eCommerce store that carries a variety of cosmetics and hair care products curated from a select collection of brands.

Business model: Product

Business concept: Online retail store

What this business does: Provide high-quality hair care and cosmetic products from select brands.

Beautifully Blessed Salon

beautifully blessed salon website homepage

Located in Delhi, Louisiana, Beautifully Blessed Salon hosts a variety of beauty service providers, including hair stylists, makeup artists and massage therapists.

Business model: Service and product

Business concept: Beauty salon and spa

What this business does: Offer a place where customers can find passionate, high-quality professionals and a world-class salon experience for all their self-care needs.

03. Decide on a manufacturing strategy (if applicable)

If you plan to manufacture your own beauty supplies, your strategy must be affordable and allow for a reasonable net profit margin—without sacrificing product quality or customer satisfaction.

Here are some key points to keep in mind:

Regulations and compliance: Familiarize yourself with the regulations and compliance requirements for manufacturing beauty products in your region. This may include adhering to safety standards, ingredient labeling, product testing and obtaining necessary licenses or certifications.

Research and development: Invest time and resources into creating high-quality and effective beauty products. Consider factors like formulation, ingredient sourcing, product stability, packaging and compliance with industry standards.

Manufacturing facilities and equipment: Determine the volume of products needed and assess the required facilities and equipment. Consider whether you will manufacture in-house or outsource production to a contracted manufacturer. Evaluate your chosen manufacturing approach's cost, quality control measures and scalability.

Supply chain management: Establish a reliable supply chain for sourcing raw materials, packaging components and other necessary ingredients. Build relationships with suppliers and ensure consistent quality and timely delivery to maintain a smooth production process.

Quality control and testing: Implement stringent measures to ensure your product's safety, effectiveness and consistency. Conduct regular testing and quality checks to meet industry standards and customer expectations.

Branding and packaging: Develop a strong brand identity and appealing packaging that reflects your brand values. Consider the functionality, design and sustainability of your packaging choices.

04. Create a business plan

A business plan helps set a solid foundation and roadmap for your beauty business. It's a dynamic document that serves as a guide to keep you focused on your goals and communicates your vision to potential stakeholders, such as investors or lenders.

As your business evolves, plan to review your business plan regularly to keep you and your business on target. Remember to focus on clarity and brevity while ensuring that the key elements of your business plan are covered.

The key elements of a solid business plan often include the following:

Executive summary: Provide a concept statement which includes a brief overview of your business operations , goals and products/services.

Company description: Describe your beauty business, its structure, location and unique selling proposition.

Market analysis: Research your target audience, industry trends and competition.

Products and services: Explain your beauty offerings, their features and any proprietary technologies.

Marketing and sales strategy: Outline your marketing, pricing and distribution plans.

Organization and management: Provide an overview of your team and their roles.

Operations: Describe your production processes, supply chain and facilities/equipment.

Financial projections: Include income statements, startup capital , cash flow projections and funding needs.

Risk analysis: Identify potential risks and outline contingency plans.

Appendices: Attach supporting documents like market research data and key resumes

05. Pick a legal structure, then register and license your business

Establishing your startup beauty business as a legal entity makes sure you’re protected, regarding both your business assets and your personal assets.

There are five legal structures (business entity types) to choose from. A limited liability company (LLC) structure is one of the most popular choices for startups. However, you may decide that another structure fits your business better.

Sole proprietorship : A business owned and operated by one person who is liable for business debts. Business income taxes are reported on the owner's personal tax return.

Partnership : A business owned by multiple individuals who share profits, losses and responsibilities. General partnerships have equal liability, while limited partnerships have limited liability. Partnerships are taxed on partners' personal tax returns.

Limited liability company (LLC) : Combines the liability protection of a corporation with the flexibility of a partnership. Owners (members) have limited personal liability, and management and taxation options are flexible.

C Corporation : A separate legal entity owned by shareholders, providing limited liability protection. Corporations have a complex structure, subject to regulations and formalities. Taxation can be at both corporate and individual levels unless certain tax elections are made.

S Corporation: A regular corporation with special tax status. Provides liability protection and allows pass-through taxation, with income, losses, etc. Taxes are reported on shareholders' individual tax returns.

illustration of business legal structures

Consider each entity type's unique characteristics and requirements when choosing the most suitable structure for your beauty business. If you need help deciding what structure to choose, seek the advice of a business attorney or other professional.

The registration process may vary depending on your location and business structure, so it's best to consult with a business attorney or seek guidance from your local Small Business Administration (SBA) office or Chamber of Commerce to ensure compliance with all applicable laws and regulations.

State registration

Business name: Choose a unique name for your beauty business and ensure it complies with your state's naming guidelines. If you need some inspiration, try Wix’s free business name generator to spark some creativity. You can also consider these beauty business name ideas or these nail business names .

Register with the Secretary of State: Visit your state's Secretary of State website and follow the instructions for registering your business. Fill out the necessary forms and pay the required fees. Be prepared to provide information about your business, such as its name, structure and address.

Secure business licenses and permits: Research and obtain any required business licenses and permits specific to your state. Ensure you clearly understand any specific regulations that apply, such as health and safety standards, cosmetology licensing or product labeling guidelines. Bear in mind you will likely need to show your business license in order to obtain business liability insurance.

Looking to start a beauty business in a specific state?

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Federal registration

Employer identification number (EIN): Apply for an EIN online through the Internal Revenue Service (IRS) website . This unique identifier is used for tax purposes, hiring employees, opening a bank account and filing federal tax returns.

Understand federal tax obligations: Understand your federal tax obligations, including income tax, employment tax and any industry-specific taxes or regulations that may apply to your beauty business.

Trademarks: If you plan to use a unique brand name, logo or slogan, consider registering for trademark protection with the United States Patent and Trademark Office (USPTO) to safeguard your intellectual property.

06. Create your website

Choose a solution that includes all the tools and support you need to build a beautiful website for your new business needs. For example, Wix offers a complete suite of tools for managing and growing your business, including hundreds of professionally designed website templates, a drag-and-drop website builder, inventory management, marketing tools and more.

Choose your design: Pick a design template for your website that reflects your brand. Wix has various product and service website templates to choose from. Customize your chosen template with your graphics and colors.

Organize your pages: Create essential pages like About, Contact, Shipping and Return Policy. Add your products or services to your online store and always use high-quality photos. If you see clients in person, like at a spa or salon, you can integrate the Wix Bookings app for clients to schedule appointments directly through your website.

Describe your offerings: Provide detailed descriptions for each product or service, including size, fragrance, color, warnings and usage tips, if applicable. Consider creating an FAQ page to address common questions.

Set competitive prices: Factor in production costs, labeling and packaging, and aim for a profit margin between 25% and 50%. Adjust prices based on market response.

Set up online payment processing: Integrate services like Wix Payments and PayPal to easily accept payments online. Offer multiple payment options to streamline the checkout process and help customers feel confident about their purchases.

07. Build your brand

When launching a new business, it’s also important for you to consider what essential assets round out the heart of your brand. You’ll want to draft up a compelling mission statement, define your core values, your business ethics and establish your brand’s voice. These elements shape your business identity and further resonate with your target audience.

Brand recognition takes repetition and consistency, and when you combine branding with a positive shopping experience, customers are more likely to shop with you again.

Looking to design a beauty logo from scratch? Try Wix's free logo maker .

08. Source and manage inventory

Whether you choose to dropship your products or purchase them wholesale, always take the time to research your sourcing options. Determine what aspects are most important to your business and your target market. Consider the following when selecting a supplier:

Minimum order quantity

Shipping speed and cost

Customer service

Fulfillment services

Product variety

Also, don't be afraid to contact potential suppliers directly to negotiate terms. You may be able to work out a deal.

Choose a product mix that aligns with your target market and business niche, and start by curating a small selection of products. As your business grows, expand your inventory based on customer feedback and sales data.

You’ll also want to implement an inventory management system to track product inventory, sales and reorder points. For example, Wix eCommerce makes it easy to successfully manage and track your inventory right from your website dashboard.

Effective inventory management is crucial for maintaining optimal stock levels, meeting customer expectations and maximizing profitability. Regularly review and refine your inventory strategies to adapt to your market's needs and drive the success of your beauty business.

desktop inventory management system

09. Provide excellent customer service

This point cannot be stressed enough. By providing excellent customer service, you entice your shoppers to visit your store again. Stay responsive to customer feedback and continually improve your products based on their needs and preferences.

Consider creating a Customer Service Credo to list your service expectations for your team. For example:

Respond to customer inquiries or complaints promptly, take ownership of issues, proactively work toward a solution and follow up to ensure a satisfactory resolution.

Listen attentively to customers, understand their needs and concerns while showing empathy and making them feel valued and heard.

Provide personalized interactions with customers, address them by name and consider their preferences or past interactions with your business.

Treat customers with respect, courtesy and professionalism at all times and use a positive and friendly tone, even in challenging situations.

Provide clear and concise information, avoiding jargon or technical terms that may confuse customers.

Go above and beyond to meet customer needs by offering additional assistance, recommendations or special considerations when appropriate.

Encourage and actively seek customer feedback to understand areas for improvement and then implement changes to enhance your products, services or overall customer experience.

Delivering consistent customer service across all channels and touchpoints while maintaining a high standard of service quality.

10. Promote your business

There are several ways to promote your business. Start by identifying your unique selling points, then determine which methods (such as social media campaigns, email marketing or influencer partnerships) align best with your business. From there, develop a comprehensive marketing strategy that not only attracts potential customers but also engages, nurtures and converts them into loyal advocates of your brand.

Below are some easy ideas to get you started.

Promote your brand on social media: Select the platform where your target market is most active, create a business account and share high-quality photos and short videos showcasing your products in action.

Build an email list: Add a sign-up link on your website, urging social media followers to visit and sign up (you can also incentivize them with a sign-up bonus or coupon). Utilize newsletters for feedback, product announcements, tips and driving traffic to your website.

Utilize paid advertising platforms: Create paid ads on Google or your preferred social media platform, setting clear goals and defining your audience. Engage potential customers with captivating visuals and persuasive copy, and leverage data insights to optimize marketing strategies for maximum ROI.

Expand your reach through local marketing: Participate in local shows, events or offer to host in-home parties with special host bonuses. Check with the local Chamber of Commerce for additional resources for new businesses in your area.

Related Posts

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How to create a service website in 10 steps

How to start a business in 14 steps: a guide for 2024

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Here is a free business plan sample for a beauty salon.

beauty salon profitability

Have you been envisioning opening your own beauty salon but feel overwhelmed about where to start?

In the content that follows, we will present to you a comprehensive sample business plan tailored for a beauty salon.

As you might be aware, a meticulously formulated business plan is crucial for any aspiring entrepreneur. It serves as a roadmap, guiding you through establishing your mission, objectives, and tactical approach for your beauty salon.

To craft a compelling plan with ease and precision, you are welcome to utilize our beauty salon business plan template. Additionally, our specialists are available to review and refine your plan at no extra cost.

business plan day spa

How to draft a great business plan for your beauty salon venture?

A good business plan for a beauty salon must be tailored to the nuances of the beauty industry.

To start, it's important to provide a comprehensive overview of the beauty market. This includes up-to-date statistics and identifying emerging trends in the beauty sector, similar to what we've included in our beauty salon business plan template .

Your business plan should articulate your vision clearly. Define your target clientele (e.g., neighborhood residents, professionals, students), and establish your salon's unique selling propositions (USPs) such as specialized services, luxury experience, eco-friendly products, etc.

The market analysis section is vital. It should offer an in-depth look at local competitors, industry trends, and customer demands and expectations.

For a beauty salon, it's crucial to detail the services you'll provide. List your offerings - hair care, nail services, skincare, makeup, and other beauty treatments - and describe how they cater to the preferences and needs of your target market.

The operational plan is key. It should outline the location of your salon, the design of the service areas, supplier relationships for beauty products, and the customer service process.

In a beauty salon business plan, it's essential to highlight the expertise of your staff, the quality of your products, and adherence to health and safety regulations.

Then, delve into your marketing and sales strategies. How do you plan to attract new clients and keep them coming back? Discuss promotional tactics, customer loyalty programs, and potential additional services (like bridal packages or wellness events).

Today, a digital presence is non-negotiable. Include plans for a website, online booking systems, and social media engagement.

The financial section is another cornerstone. It should cover the initial investment, projected revenue, ongoing expenses, and the point at which the business will become profitable.

In the beauty industry, service margins can vary widely, so precise financial planning and a solid understanding of your cost structure are imperative. For assistance, consider using our financial forecast for a beauty salon .

Compared to other business plans, a beauty salon's plan must pay closer attention to customer experience, staff expertise, and the constantly evolving beauty trends.

A well-crafted business plan not only helps you clarify your strategy and vision but also plays a crucial role in attracting investors or securing loans.

Lenders and investors are looking for thorough market research, realistic financial projections, and a clear plan for day-to-day operations.

By presenting a comprehensive and convincing business plan, you show your dedication and readiness to make your beauty salon a success.

To achieve these goals while saving time, you can fill out our beauty salon business plan template .

business plan beauty salon

A free example of business plan for a beauty salon

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a beauty salon .

Here, we will follow the same structure as in our business plan template.

business plan beauty salon

Market Opportunity

Market data and figures.

The beauty salon industry is a robust and dynamic sector with significant growth potential.

Recent estimates value the global beauty salon market at over 190 billion dollars, with projections indicating continued expansion in the years ahead, driven by an increasing emphasis on personal appearance and wellness.

In the United States alone, there are over 80,000 beauty salons, generating a combined annual revenue of approximately 20 billion dollars. This underscores the critical role beauty salons play in the personal care industry and their substantial contribution to the economy.

The beauty industry is witnessing a surge in trends that cater to a more informed and health-conscious consumer base.

Organic and natural beauty products are becoming increasingly popular as customers seek out healthier, chemical-free options for their skin and hair care routines. The demand for cruelty-free and vegan cosmetics is also on the rise, reflecting a broader societal shift towards ethical consumerism.

Technological advancements are revolutionizing beauty treatments, with innovations such as AI-driven skin analysis and personalized product recommendations enhancing the customer experience.

Additionally, the rise of social media influencers has transformed marketing strategies within the beauty sector, with salons now partnering with these influencers to reach a wider audience.

Convenience services, such as mobile beauty salons and on-demand beauty apps, are gaining traction, offering services at the comfort of the customer's home or preferred location.

Transparency in product ingredients and sourcing is becoming increasingly important to consumers, prompting salons to be more open about the products they use and sell.

Success Factors

Several key elements contribute to the success of a beauty salon.

High-quality service is paramount. Salons that provide exceptional treatments and results can build a strong, loyal clientele.

Innovation in service offerings, such as introducing the latest beauty treatments or technology, can help a salon stand out in a crowded market.

The location of the salon is crucial, as a prime spot can significantly increase foot traffic and visibility.

Customer service excellence is essential for fostering a welcoming environment and ensuring client satisfaction.

Lastly, effective cost management, a commitment to sustainability, and the ability to adapt to the latest beauty trends are vital for the long-term prosperity of a beauty salon.

The Project

Project presentation.

Our beauty salon project is designed to cater to the diverse beauty needs of a modern clientele. Strategically located in a bustling urban area or within a shopping district, this salon will offer a comprehensive range of beauty services, including hair styling, coloring, makeup, skincare treatments, and nail services. We will use high-quality, eco-friendly, and skin-friendly products to ensure the best results and customer satisfaction.

The salon will focus on providing a luxurious and relaxing experience, with an emphasis on personalized services and attention to detail.

Our beauty salon aims to become a go-to destination for those seeking professional beauty services, offering a sanctuary where clients can rejuvenate and enhance their natural beauty.

Value Proposition

The value proposition of our beauty salon project is centered around delivering exceptional beauty services with a personal touch. We understand the importance of feeling confident and looking one's best.

Our commitment to using high-quality products and providing a wide range of services under one roof offers convenience and a bespoke beauty experience. We are dedicated to creating a welcoming atmosphere where every client feels valued and pampered.

We strive to empower our clients by providing expert beauty advice and services that cater to their individual needs, helping them to look and feel their best every day.

Our beauty salon is set to become a cornerstone in the community, offering a space for self-care and beauty enhancement, while also fostering a culture of wellness and confidence among our clientele.

Project Owner

The project owner is a seasoned beauty industry professional with a passion for helping people look and feel their best.

With a background in cosmetology and a keen eye for the latest beauty trends, the owner brings a wealth of experience in salon management and customer service excellence. They are committed to creating a beauty salon that stands out for its dedication to quality, innovation, and a personalized client experience.

With a vision of fostering self-confidence and well-being, the owner is determined to offer top-tier beauty services while nurturing a warm and inviting salon atmosphere.

Their commitment to the craft and to the clients is the driving force behind this project, aiming to establish a beauty salon that becomes a beloved part of the local community's daily life.

The Market Study

Market segments.

The market segments for this beauty salon are diverse and cater to a wide range of clients.

Firstly, there are individuals seeking regular hair care services, such as haircuts, coloring, and styling, who prioritize maintaining their appearance.

Additionally, there are clients interested in specialized treatments, such as keratin treatments, hair extensions, or scalp therapies, who may be dealing with specific hair concerns or looking for a transformation.

The market also includes those looking for a full pampering experience, including skincare services, manicures, pedicures, and massage services.

Lastly, beauty professionals such as makeup artists and stylists can be a key segment by partnering with the salon for events and referrals.

SWOT Analysis

A SWOT analysis of this beauty salon project highlights several key factors.

Strengths include a skilled team of beauty professionals, a luxurious and welcoming salon environment, and a strong reputation for quality services.

Weaknesses might encompass the high operational costs of maintaining a premium salon and the challenge of staying current with beauty trends and techniques.

Opportunities can be found in expanding the salon's service offerings, leveraging social media for marketing, and building a loyal customer base through membership or loyalty programs.

Threats could involve the competitive nature of the beauty industry, economic downturns affecting discretionary spending, and the rapid pace of change in beauty trends.

Competitor Analysis

Competitor analysis in the beauty salon industry indicates a highly competitive landscape.

Direct competitors include other local salons, spas, and chains that offer similar beauty and wellness services.

These competitors vie for clients who are looking for convenience, quality, and a range of services.

Potential competitive advantages include a unique salon experience, superior customer service, expertise in cutting-edge beauty treatments, and a strong brand identity.

Understanding the strengths and weaknesses of these competitors is crucial for carving out a niche and ensuring customer loyalty.

Competitive Advantages

Our beauty salon's competitive edge lies in our dedication to providing a holistic beauty experience.

We offer a wide array of services, from hair care to beauty treatments, all under one roof, ensuring convenience for our clients.

Our team's expertise in the latest beauty techniques and trends allows us to offer personalized services that cater to individual client needs.

We also emphasize building a serene and luxurious atmosphere, making each visit a rejuvenating experience.

Our commitment to using high-quality products and equipment ensures that clients receive the best possible care, enhancing their overall satisfaction and trust in our brand.

You can also read our articles about: - how to open a beauty salon: a complete guide - the customer segments of a beauty salon - the competition study for a beauty salon

The Strategy

Development plan.

Our three-year development plan for the beauty salon is designed to establish us as a premier destination for beauty and wellness.

In the first year, we will concentrate on building a strong local clientele by offering exceptional service and creating a relaxing and welcoming atmosphere.

The second year will focus on expanding our services and possibly opening additional locations in high-demand areas to increase our market reach.

By the third year, we aim to introduce our own line of beauty products and collaborate with influencers and beauty experts to solidify our reputation in the industry.

Throughout this period, we will prioritize customer satisfaction, innovation in beauty treatments, and staying ahead of industry trends to ensure we meet the evolving desires of our clients.

Business Model Canvas

The Business Model Canvas for our beauty salon targets individuals seeking quality beauty services, including hair, nails, skincare, and makeup.

Our value proposition is centered around providing a luxurious and therapeutic experience with a range of high-quality beauty treatments and personalized care.

We offer our services through our physical salon location and potentially through a mobile app or website for booking and consultations, utilizing our skilled professionals and state-of-the-art salon environment as key resources.

Key activities include service delivery, customer relationship management, and maintaining a strong online presence.

Our revenue streams will be generated from the sale of beauty services and products, while our costs will be associated with staff, salon maintenance, and marketing efforts.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on building a strong brand image and customer loyalty.

We plan to engage our target audience through social media marketing, partnerships with local businesses, and hosting beauty and wellness events.

We will also leverage influencer partnerships to showcase our services and reach a wider audience.

Additionally, we will offer membership packages and referral discounts to encourage repeat business and word-of-mouth recommendations.

Risk Policy

The risk policy for our beauty salon includes measures to mitigate risks associated with service quality, customer satisfaction, and health and safety.

We will ensure compliance with all health and safety regulations, provide ongoing training for our staff, and use high-quality, hypoallergenic beauty products.

Regular customer feedback will be sought to improve our services, and we will manage costs effectively to maintain financial stability.

We will also carry comprehensive liability insurance to protect against any potential claims related to our services.

Our focus is on delivering safe, high-quality beauty treatments that exceed our clients' expectations.

Why Our Project is Viable

We are committed to launching a beauty salon that stands out for its quality services, luxurious atmosphere, and innovative approach to beauty and wellness.

With a growing demand for premium beauty experiences, we believe our salon will attract a discerning clientele looking for top-tier treatments and products.

We are prepared to adapt to the dynamic beauty industry and are excited about the opportunity to enhance the well-being and confidence of our customers while building a successful business.

We are optimistic about the future and the positive impact our beauty salon will have on the community.

You can also read our articles about: - the Business Model Canvas of a beauty salon - the marketing strategy for a beauty salon

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a beauty salon and our financial plan for a beauty salon .

Initial expenses for our beauty salon include the cost of leasing a suitable location, renovating the space to create a relaxing and aesthetically pleasing environment, purchasing salon equipment such as styling chairs, wash stations, and beauty supplies, as well as investing in a robust booking system. Additional costs involve obtaining the necessary licenses, insurance, and training for staff to provide a wide range of beauty services, alongside expenses for branding and executing targeted marketing strategies to attract our desired clientele.

Our revenue assumptions are based on a thorough market analysis of the local demand for beauty services, taking into account factors such as population demographics, local competition, and consumer spending habits on personal care.

We expect a steady growth in clientele, beginning with a conservative estimate and expanding as our salon's reputation for quality services and customer satisfaction grows.

The projected income statement outlines expected revenues from our beauty services, including hair styling, skincare treatments, and other aesthetic services, as well as the costs of goods sold (beauty products, supplies), labor, and operating expenses (rent, marketing, salaries, utilities, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability and profitability of our beauty salon.

The projected balance sheet will display assets such as salon equipment, product inventory, and any improvements made to the leased space, while also accounting for liabilities like loans and accounts payable.

It will provide a snapshot of the financial condition of our beauty salon at the end of each fiscal period.

Our projected cash flow statement will detail the inflows from service sales and outflows for expenses and purchases, enabling us to predict our financial needs. This is crucial for maintaining a healthy cash balance and ensuring smooth salon operations.

The projected financing plan will identify the sources of funding we intend to utilize to cover our initial costs, which may include personal savings, bank loans, or investor capital.

We will closely monitor the working capital requirement to ensure we have sufficient funds to cover day-to-day operations, such as restocking beauty products, managing inventory, and paying staff wages.

The break-even analysis will determine the service volume we need to achieve to cover all our costs, including initial investments, and begin generating profit.

It will signal the point at which our beauty salon becomes financially sustainable.

Key performance indicators we will track include the profit margin on our beauty services, the current ratio to evaluate our ability to meet short-term obligations, and the return on investment to gauge the efficiency of the capital we have invested in the salon.

These metrics will assist us in measuring the financial performance and overall success of our beauty salon.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a beauty salon .

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How to Start a Salon Business

open a salon

Starting your own salon business is a great way to make money and control your destiny. This article covers how to start a salon step by step, including what you need to do before opening your doors for business so that when the day comes, you’ll be able to jump right into making money.

This article covers how to start a salon step by step, including what you need to do before opening your doors for business so that when the day comes, you’ll be able to jump right into making money.

Importantly, a critical step in starting a salon is to complete your business plan. To help you out, you should download Growthink’s Ultimate Salon Business Plan Template here .

Download our Ultimate Salon Business Plan Template here

15 Steps To Start a Salon Business:

  • Choose the Name for Your Salon Business
  • Determine the Type of Salon Business You Will Launch
  • Develop Your Salon Business Plan
  • Choose the Legal Structure for Your Salon Business
  • Secure Startup Funding for Your Salon Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Salon Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Salon Business
  • Buy or Lease the Right Salon Business Equipment
  • Develop Your Salon Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Salon Business
  • Open for Business

1. Choose the Name for Your Salon Business

The first step to starting a salon is to choose your business’ name.

This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your salon:

  • Make sure the name is available: Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
  • Keep it simple: The best names are usually ones that are easy to remember, pronounce and spell.
  • Think about marketing: Come up with a name that reflects the desired brand and/or focus of your salon business.

2. Determine the Type of Salon Business You Will Launch

The next step is to determine the type of salon business you will launch. The four main types of salon businesses are:

  • Hair Salon: : A hair salon primarily focuses on providing a range of hair-related services such as haircuts, hairstyling, hair coloring, hair extensions, and treatments. Hair salons cater to both men and women and may offer additional services like scalp treatments, blowouts, and specialized haircare products.
  • Nail Salon: A nail salon specializes in nail care services, including manicures, pedicures, nail art, acrylic or gel nail enhancements, and nail treatments. These salons often offer a variety of nail polish colors, designs, and techniques to enhance the appearance and health of clients’ nails.
  • Spa Salon: A spa salon offers a broader range of services, including skincare treatments, massages, body treatments, facials, and relaxation therapies. These salons aim to provide a holistic experience focused on relaxation, rejuvenation, and overall well-being.
  • Beauty Salon: A beauty salon is a comprehensive establishment that offers a combination of various beauty services. In addition to hair and nail care, a beauty salon may provide services such as makeup application, waxing, eyebrow and eyelash treatments, and skincare. Beauty salons aim to provide clients with a complete range of beauty enhancement options.

3. Develop Your Salon Business Plan

One of the most important steps in starting a salon business is to write a salon business plan . The process of creating your plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.

To enhance your planning process, incorporating insights from a  sample salon business plan  can be beneficial. This can provide you with a clearer perspective on industry standards and effective strategies, helping to solidify your own business approach.

Your business plan should include the following sections:

  • Executive Summary: This section should summarize your entire business plan so readers can quickly understand the key details of your salon business.
  • Company Overview: This section provides the reader with information about the background of your salon business and the specific type of salon services you offer. For instance, do you specialize in hair salon services, nail salon services, spa and relaxation treatments, or a comprehensive range of beauty services.
  • Industry Analysis: Here you will document key information about the salon industry. Conduct market research and document how big the industry is and what trends are affecting it.
  • Customer Analysis: In this section, you will document who your ideal or target customers are and their demographics. For example, how old are they? Where do they live? What do they find important when purchasing the services like the ones you will offer?
  • Competitive Analysis: Here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
  • Marketing Plan: Your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
  • Product : Determine and document what products/services you will offer 
  • Prices : Document the prices of your products/services
  • Place : Where will your business be located and how will that location help you increase sales?
  • Promotions : What promotional methods will you use to attract customers to your salon business? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
  • Operations Plan: Here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
  • Management Team: This section details the background of your company’s management team.
  • Financial Plan: Finally, the financial plan answers questions including the following:
  • What startup costs will you incur?
  • How will your salon business make money?
  • What are your projected sales and expenses for the next five years?
  • Do you need to raise funding to launch your business?

4. Choose the Legal Structure for Your Salon Business

Next you need to choose a legal structure for your salon business and register it and your business name with the Secretary of State in each state where you operate your business.

Below are the five most common legal structures:

1) Sole proprietorship

A sole proprietorship is a business entity in which the owner of the salon business and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a salon business together. The partners share in the profits and losses of the business.

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a salon business include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a salon business is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your salon business, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

5. Secure Startup Funding for Your Salon Business (If Needed)

In developing your salon business plan, you might have determined that you need to raise funding to launch your business.

If so, the main sources of funding for a salon business to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a salon business that they believe has high potential for growth.

6. Secure a Location for Your Business

Having an appropriate space holds significant importance for your salon business.

To discover the perfect location, consider the following steps:

  • Exploring various neighborhoods while keeping an eye out for “for lease” indicators.
  • Getting in touch with a commercial real estate agent specialized in retail spaces.
  • Conducting online searches focused on commercial real estate options.
  • Sharing your requirements with your contacts and checking if anyone within your network has valuable connections to assist you in securing the ideal salon space.

7. Register Your Salon Business with the IRS

Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

8. Open a Business Bank Account

It is important to establish a bank account in your salon’s name. This process is fairly simple and involves the following steps:

  • Identify and contact the bank you want to use
  • Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
  • Complete the bank’s application form and provide all relevant information
  • Meet with a banker to discuss your business needs and establish a relationship with them

9. Get a Business Credit Card

You should get a business credit card for your salon business to help you separate personal and business expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

10. Get the Required Business Licenses and Permits

To establish a salon business, you typically need several licenses and permits to ensure legal compliance and operation. The exact requirements can vary based on your location and the services you intend to offer. However, here is a general list of licenses and permits you may need:

  • Business license – You need to register your business with your state and local municipality. Requirements vary but generally you’ll need to provide your business name, address, owner’s name, etc.
  • Salon license – Most states require a special license to operate a salon. This involves submitting an application, paying a fee, and passing an exam on salon practices and regulations.
  • Cosmetology licenses – Stylists need to be licensed cosmetologists in the state where the salon is located. This requires completing a certain number of training hours (often 1,500+ hours) and passing written and practical exams.
  • Building permits – If you’re constructing or renovating your salon space, you’ll need permits for the construction work being done. Requirements depend on where you’re located.
  • Sales tax permit – You need to register with your state department of revenue to collect and remit sales tax. You may also need a local business tax license.
  • Insurance – Salon business insurance is highly recommended to cover liability, property damage, etc. Make sure your policy meets your state’s minimum requirements.
  • Health department license – Most states require salons to have a health/sanitation license demonstrating you meet safety and cleanliness standards. An inspection is usually required.

So in summary – business license, salon license, individual stylists’ cosmetology licenses, building permits if renovating, sales tax permit, business insurance, and health department license are typical requirements to operate a hair salon legally. Check with your state and local government for specifics.

11. Get Business Insurance for Your Salon Business

Operating a salon business comes with potential risks, and having the right insurance coverage is crucial to protect your business, assets, and clients. Here are some types of insurance you may need for your salon business:

  • General liability insurance – This covers any injuries to customers or damage to property that occurs in your salon. It protects you in case of slip-and-fall accidents, injuries from services, equipment damages, etc. Liability limits of $1 million per occurrence are common.
  • Professional liability insurance – Also called errors and omissions insurance, this covers negligence claims if a stylist damages a client’s hair or scalp during a service. Limits of $1 million are typical.
  • Workers’ compensation insurance – Required in most states, this covers medical bills and lost wages if an employee gets injured on the job. Rates vary based on salon size and location.
  • Property insurance – Protects against loss due to damage/theft of your salon equipment, furnishings, inventory, etc. Make sure to get adequate coverage for high value items.
  • Business owner’s policy – A BOP bundles general liability, property coverage, and business interruption insurance into one policy. This can be more convenient than separate policies.
  • Cyber liability insurance – Provides protection if your salon experiences a data breach, network outage, or if clients’ personal info is compromised.

Check your state’s specific insurance requirements for salons. An insurance broker can also advise on appropriate coverage types and limits based on your operations and risks.

12. Buy or Lease the Right Salon Business Equipment

Here is an overview of some of the basic equipment needed to operate a salon business:

  • Salon chairs – Sturdy, adjustable chairs so clients can sit comfortably during services. Often hydraulic or electric.
  • Shampoo stations – Specialized sinks and chairs for washing/conditioning hair. Reclining backrests are common.
  • Hairstyling stations – Includes mirror, countertop space for tools and products, drawer storage, and chair for client.
  • Barbershop stations – Similar to styling stations but may include barber chairs and additional storage for shaving tools.
  • Hood dryers – For drying and setting hair. Positioned at individual stations.
  • Facial beds – Cushioned tables so clients can lie down for facials, waxing, etc.
  • Towel warmers – Heated units keep towels warm for clients throughout the day.
  • Salon sinks – Convenient sink areas for stylists to wash tools and hands between clients.
  • Point of sale system – Computerized system to accept payments, schedule appointments, and track inventory.
  • Disinfection tools – UV sanitizers, barbicide, autoclaves to properly clean and disinfect all implements.
  • Hair washing tools – Spray bottles, pitchers, hoses for comfortably washing client’s hair in the sink.
  • Storage – Rolling carts, cabinets, shelves to organize products, tools, and supplies.

The specific equipment needs will vary based on services offered, but this covers some of the essentials for operating stations in a professional salon environment.

13. Develop Your Salon Business Marketing Materials

Marketing materials will be required to attract and retain customers to your salon business.

The key marketing materials you will need are as follows:

  • Logo: Spend some time developing a good logo for your salon business. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
  • Website: Likewise, a professional salon business website provides potential customers with information about the services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how customers perceive you.
  • Social Media Accounts: Establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help customers and others find and interact with your salon business.

14. Purchase and Setup the Software Needed to Run Your Salon Business

Here are some of the key software solutions that are useful for managing and running a salon business:

  • Appointment booking software – Allows clients to book appointments online and lets you manage your staff’s schedules. Popular options include Square Appointments, Booker, SalonRunner.
  • Point of Sale (POS) system – Ring up sales, take payments, manage inventory. Some popular salon POS systems are Salon Iris, Rosy, Phorest.
  • Accounting software – Track income, expenses, taxes. QuickBooks is a common accounting platform for small businesses like salons.
  • Payroll software – Pay employees and handle payroll taxes. Examples include Gusto, Patriot Payroll, SurePayroll.
  • CRM software – Manage client contacts, appointment history, marketing. Options like Insightly and SlickPie have salon-focused features.
  • Inventory management – Track product usage and reorder supplies. Can integrate with POS system. Examples: BeautyTracks, Simplifi.
  • Email marketing – Send promotions, announcements, birthday specials to clients. MailChimp is a popular email platform.
  • Social media management – Schedule posts and engage with followers on Instagram, Facebook, etc. Hootsuite, Buffer are useful tools.
  • Analytics – Measure website traffic, online bookings, sales data. Google Analytics provides good insight.

The right software can help salon owners maximize efficiency, organization, and productivity in day-to-day operations.

15. Open for Business

You are now ready to open your salon business. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.

How Big is the Salon Industry?

The business of beauty and wellness is a fast-growing and dynamic sector in the United States, with over 1.2 million total salon businesses and sales of more than $62 billion annually.

What are the Key Segments of the Salon Industry?

Salons are businesses that specialize in the application of cosmetics to both women and men. Hair salons, nail salons, and skincare treatments. Many salons promote themselves as full-service establishments that provide a wide range of services including haircuts, manicures, waxing, skincare, and tanning.

Hair and Nail Salons

Salons that specialize in hair and nail treatments are perhaps the most common type of salon. Many salons now offer a range of different beauty treatments such as waxing, skincare, manicures, pedicures, tanning, facials, and haircuts to name a few.

Skincare Treatments

There has been a growing interest in skin treatments such as Yon-Ka Oxygene and Oxygen facials, chemical peels, and microdermabrasion. These types of salon treatments can revitalize and rejuvenate your skin, leaving it looking fresh and young.

Facials provide an opportunity to relax while receiving pampering treatments.

Tanning Salons

Salon tanning beds are popular with clients who want to lose or maintain their summer tans. The Tan Co’s Salon Tanning Bed is becoming increasingly common throughout salons today.

Waxing and Skincare Treatments

These services are perfect for women who don’t have the time to do their own waxing and skin care treatments.

Salons provide a wide range of beauty treatments that vary from one salon to another. In addition, services can change rapidly due to new products, changing styles, and increasing demand for certain treatments.

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What external factors affect the salon market.

There are a number of factors that affect the salon market. Some of these include:

  • New Beauty Technology and Products – Beauty salons need to keep up with new technologies such as the Beauty Light Pro-face and body machine which uses lasers to reduce acne scars, wrinkles, and stretch marks.
  • Changing Styles – New hairstyles are constantly being created, and skin care trends change frequently.
  • Competitive Pressures – Salon owners need to know how much competition they’re up against when setting salon prices, choosing suppliers, and marketing their salon services.
  • Changing Demographics – demographics play an important role in who will use your salon’s beauty treatments. Consider the effect of an aging population on demand for skincare treatments, for example.
  • Economics – The state of the economy has a major effect on the industry. When the economy is struggling, people tend to cut back on discretionary spending which includes beauty treatments such as haircuts and manicures; however, when the economy is thriving, business tends to thrive as well.

Who are the Key Competitors in the Salon Industry?

Direct competitors in the salon industry are other beauty salons and spas within your geographical area.

In order to attract clients, you’ll need to offer competitive pricing and a range of services that will help differentiate you from the competition. Some ways that you can do this include being open earlier, staying open later, have longer operating hours, having faster service times, providing gift certificates or coupons for future services, being more flexible on price, and providing a more luxurious experience with better seating arrangements and customer bathrooms.

Key competitors of the industry also include manufacturers who produce chemicals, equipment, and other supplies required to run a salon business. In addition, home-based 1:1 beauty service providers such as skincare experts, make-up artists, and waxers should also be considered as competitors to your salon.

There are also a number of indirect competitors that you need to be aware of as well including:

Traditional hair salon services such as those offered by Sports Clips, barbershops, ethnic hair salons, Supercuts, and more. Barber Shops tend to offer more traditional men’s haircuts, but they also offer services that women are looking for such as straight razor shaves.

Traditional beauty salon services such as those offered by nail spas, meditation salons, karate dojos, and more. Meditation or wellness salons provide a wide range of treatments including skincare treatments, reflexology massage, reiki sessions, and more.

These establishments can be a challenge because they are often not considered a “serious” competitor by the typical owner who focuses only on competing against other salons. However, it is important to recognize the threat that these competitors can pose because they may attract customers who would typically come to your salon.

What are the Key Customer Segments in the Salon Market?

Your salon’s key customer segments are women who want to improve their appearance. However, it’s important not to forget men as well. In fact, some salons target men with specific haircuts and grooming treatments.

Beauty salons typically attract two main customer segments:

  • Customers who regularly visit salons (e.g., weekly or monthly) for beauty treatments such as haircuts, manicures, pedicures, facials, and skincare treatments. These customers regularly purchase products to maintain their beauty treatments at home.
  • Customers who only visit the salon occasionally – usually for specific events such as weddings or proms. These customers purchase a few beauty products a year to maintain their salon-purchased treatments such as those who buy shampoo from the grocery store but regularly go to the salon for haircuts.

Having a clear understanding of your salon’s key customer segments will help you create an ideal customer persona that can be used in the following sections when developing your marketing strategy.

What are the Typical Startup Costs for a New Salon Business?

The typical salon startup costs include the following:

  • Physical location – You will need to initiate a lease agreement or purchase your salon’s physical location. The cost for monthly rent may vary greatly depending on the type of salon, its size, and location. For example, if you are planning to open your own hair salon in Los Angeles, California, expect the monthly rent to be $4,000 or more while the average monthly rent for a hair salon in Salt Lake City, Utah is around $700.
  • Physical buildout – Most salons require renovation work to make the space look appealing and functional. You will need to update the lighting, floors, paint, wall coverings (e.g., wallpaper or large prints), counters, furniture (e.g., hair salon chairs, manicure tables), and salon equipment (e.g., hairdryers, shampoo sinks).
  • Salon Equipment – These include the physical tools you will need to perform beauty treatments such as hairdryers, curling irons, straighteners, combs, brushes, rollers, styling products (e.g., hair spray), makeup, skincare products (e.g., facial creams or oils). You may also need to purchase beauty supplies such as cotton balls, napkins, tissues, disposable cups for beverages.
  • Salon Operating Supplies – These are the items you will use on a daily basis in your beauty business while others are used less frequently such as cleaning supplies (e.g., disinfectants, bleach), paper towels, and plastic bags for rubbish.
  • Salon Furniture – You will need salon furniture to seat your customers while they receive their beauty treatments. Consider purchasing salon-specific furniture rather than using generic furniture you already own such as dining or office tables and chairs.
  • Cash Register – You will need a cash register to keep track of your salon’s revenue.
  • Salon Supplies & Inventory – This category includes items that are paid for when they are purchased e.g., beauty supplies, inventory-items you pay only after selling them-and stored in the salon. Examples include shampoo, hair color, ties, headbands, cotton balls, facial washcloths.
  • Business Insurance – You will need to purchase at least two types of insurance: salon insurance and general liability insurance (also called business owner’s policy). Ensure you contact an experienced independent insurance agent who can guide you through the process.
  • Salon Accounting Software – There are many good salon accounting software options available on the market, but many salon owners use less expensive software such as QuickBooks instead of purchasing salon-specific accounting software.
  • Marketing and Promotional Campaigns – Besides advertising, there are many ways you can promote your business including flyers, postcards, social media campaigns (e.g., Facebook ads or Twitter promotions), business cards, coupons, direct mailings.
  • Legal and Licenses – You will need to purchase legal documents (e.g., business contracts) and licenses (e.g., tax registration certificate).

When you are trying to figure out how much money you want to start a salon, your main costs will be related to the physical buildout of your salon.

Your rent is one of the biggest expenses for new salons, especially if you are located in an expensive city such as New York City or Las Vegas.

Location is everything in the industry so it’s important to choose your salon location wisely. You don’t want to be in a bad location that scares people away or makes it difficult for them to get to your salon.

Getting salon fixtures is a must if you are building the space from scratch. You will need to get shampoo stations, stylist workstations, reception areas, waiting spaces, etc.

Music and entertainment systems are also necessary parts of your buildout.

Things like nail bars can be added later but it’s easier to get those installed on day one.

You will need to get a general business license and apply for your salon license as well as any other state or city-level licenses that you think you might need.

Salon insurance is also essential to protecting yourself and your assets from business liability.

Your budget will look very different depending on the scale of your salon type and design. It’s important that you do not underestimate the costs when planning for your salon space, but also don’t kill your budget either.

Is Owning a Salon Profitable?

Yes, salon businesses are profitable. Some salons have a list of clients who visit frequently and return for the same services over time, while others need to constantly acquire new clients. To remain profitable, you must ensure that your business meets three criteria:

  • Your salon is within an accessible location
  • You have a good handle on salon finances
  • You purchase salon supplies and equipment at the best price possible.

What are the Keys to Launching a New Salon Business?

If you’ve made it to the decision of opening a salon business, chances are that you have been planning for a long time already. It’s essential to be as prepared as possible before opening your doors.

Below is a list of essentials that every salon owner should look into:

  • Salon management software – You need to keep track and organize all data related to the salon.
  • Concierge services – These can help you with getting clients in the door. If you have an excellent service that people want, then they will be willing to pay for it.
  • Salon website – Your salon website is one of your biggest marketing tools. It should look professional and convey a sense of your own salon brand.
  • Business banking – Get a business account and debit card as soon as possible. While you’re at it, set up an automatic payment option like direct deposit and online bill pay to make your life easier.
  • Salon insurance – From the salon’s property to employee compensation, you need good coverage for everything.
  • Marketing plan – Create a salon marketing plan that will work best for you.
  • Quality hair and beauty products – Invest in the best salon products. If your products are top quality, then all you have to do is get them out there and let results speak for themselves.

Be efficient with your time and resources so that you can focus on growing your business.

If you start building strong business relationships with your clients and getting their word of mouth, then new clientele will come to your salon without even needing a marketing plan. Everything comes full circle so make sure to spend effort on each part of the process.

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How to Start a Salon FAQs

How do i turn my salon into a thriving business.

It's time to take your dream of opening your own salon and make it become a reality. Follow these simple guidelines to turn your startup into a thriving salon business:

Build Trust

Before people will trust any service or product being sold by you, they need to know who it is that they are trusting. This means that before starting any kind of advertisement campaign about the launch of your new salon you should work on building relationships with potential customers first. 

You might do this by hosting demonstrations for how hairstyling works at an event near them which could also act as an advertisement for how qualified staff members are. If people are happy to buy your services then they are more likely to spread word of mouth about how great your salon is.

Promote What You are Selling

Once you have people's attention with the product or service that you are offering, it is time to use this opportunity to sell yourself. 

Try promoting yourself through targeted online adverts which will let people who would most often visit a salon know that there is something new in town with your advertisement appearing on websites including social media accounts and others where people who might be interested in visiting a beauty salon might spend their free time. 

This kind of press can go a long way especially if your stylists already have experience working at other successful salons which could potentially give an incentive for more customers to come to try out your salon.

Take on Contract Work

Some local businesses in your industry might only be interested in working with the most successful salons, but there is no reason why you can't prove that you are just as reputable. Try taking on contract work for major hair care brands at the launch of your new business, offering them a deal where they give you their business and in return, you promote their products to your customers. This could be extremely beneficial when trying to recruit new stylists especially if they have experience working under the same brands already. People trust familiar names so having these kinds of big-name companies involved with the wonders of your own work for credibility.

Keep Up Quality

Keeping high-quality standards across all aspects of running a salon is important to keep your loyal customers happy and could also potentially attract larger salons to work with you. After all, the more successful you are at running a high-quality salon the more people will want to come to you for their hair care needs. Make sure that everything from the salon equipment used to how well trained every member of staff is working is like clockwork if you want even bigger companies interested in having contracts with you.

Be Consistent

Your salon brand should be recognized before long as one which always keeps up its promises; this kind of reputation can help generate word-of-mouth advertising rapidly. The name 'Salon X' might not mean much now, but after three years of offering high-quality services, it might be known throughout your city as being a salon that consistently delivers the highest quality services. This kind of brand awareness can be a great help when trying to get more contracts from big-name brands.

How Much Does it Cost to Start a Salon?

It is subjective how much money you need to open a salon but most salons will spend around $300,000 for their buildout. If you want to make sure that your salon is successful, you should be prepared to invest at least 6 months’ worth of your salary as well as the cost of your buildout.

What are the Financial Requirements to Open a Salon?

The financial requirements for opening a salon will depend on how much you can personally invest in your business. Salons generally start with developers that want to get into the salon industry, but then there are also models where salons are franchised or managed by existing salon owners.

Small Business Administration loans - These are available for small business owners that meet certain requirements, but it does require a decent credit score and a history of on-time payments. Read more about how to get an SBA loan here.

Equity financing - This generally requires setting up some sort of contractual arrangement between yourself and investors. The more capital you can provide yourself with, the better.

Business loans - There are a handful of bank options available for small business owners that meet certain requirements to get a loan from a bank. Read more about how to get a business loan here.

Partnerships and collaborations - Depending on your experience in the salon industry it might be possible to find a partner that will invest in your salon/salon business.

The more capital you can bring yourself, the better off you'll be long-term. Make sure to budget accordingly before opening your doors.

How Can I Get Clients in My Salon?

It's one thing to have a new salon and a solid business plan, but you need to make sure that people actually come in and try out your services.

You'll want to think about:

  • How will you get the word out there? Social media campaigns, flyers on community boards, direct mailers, etc. Try not to use too much advertising or you'll burn through your budget quickly.
  • What's in it for the client? Obviously, you want to have happy, satisfied clients who want to come back. This will be easier if you offer excellent customer service and quality products.
  • How much are you charging? If your services are affordable, then people won't think twice to book an appointment. If you offer higher-end services, then make sure to have a clientele base that is willing and able to pay for them.
  • Will you offer specials? Offering a special for a limited time is a great way to attract new clients and let them feel how much they can save by booking an appointment with you.
  • What will your salon environment be like? Make sure that it's clean, peaceful, and relaxing to help clients feel at home.

There is no magic wand or quick fix for getting new clients in the door of your salon business. It takes hard work and patience but if you can provide quality products and services, then your clients will come running.

How Do I Improve Salon Business Operations?

You want to make sure that every part of your salon's operations runs smoothly from massive production to everyday tasks. Things should run as seamlessly as possible between making appointments, scheduling employees, tracking inventory, and receiving payments. That way life is simple for the owner and managers so they can focus on improving important things such as revenue or cost-efficiency. In order to keep your business up and running, you should also follow these steps.

Make sure that everyone is on the same page when it comes to salon documentation. For example, what information goes into the client record? How are appointments scheduled? What are different appointment types? Make sure that all employees know this information so that there aren't discrepancies in how tasks are carried out or who is responsible for them.

Be flexible with scheduling time off for employees. It makes sense to have set times off, but make sure to be accommodating if they need to reschedule their appointments due to an emergency or personal reasons.

What will your salon's payroll look like? Will you hire freelancers or permanent employees? Keep track of each person's hours worked and time off.

Lastly, you should always be trying to improve your salon business operations so that your salon can run as efficiently as possible. This will leave the owner more time for important tasks such as growing their clientele or expanding services offered.

How Do I Grow My Salon Business?

Growing a salon business is hard work but there are some things you can do to help boost your success rate. If you want to grow a salon business, make sure to:

  • Focus on branding . Make sure that people recognize your name and what it stands for. This way they will know exactly what they're paying for every single time they walk through the doors of your salon.
  • Promote your salon business through social media platforms . This is a great way to promote new products or services and let people know what's going on at your salon.
  • Attend industry events . Make sure that you attend as many beauty conventions, expos, and salon expos as possible. These events are a great place for networking with other professionals in the industry which can be very beneficial to promote your brand name.
  • Make as many connections as you can . The more people that know your name, the more likely they are to return for future services.
  • Be consistent with your pricing and products . If clients feel like they can rely on you then there is a higher chance that they will return to your salon business time and time again.

Where Can I Download a Salon Business Plan PDF?

You can download our salon business plan PDF template here. This is a business plan template you can use in PDF format.

Additional Resources

American Salon

Beauty Cast Network

Beauty Launchpad

BeautyMark Marketing  

Other Helpful Business Plan Articles & Templates

Business Plan Template & Guide For Small Businesses

Elon Musk's Neuralink brain implant to ultimately help humans merge with AI is sparking debate over safety and ethics

  • Elon Musk's brain chip company Neuralink has begun implanting its devices in humans.
  • Neuralink's initial goals are to treat neurological conditions like paralysis and blindness.
  • But Musk has expressed a deeper ambition to use the implants to merge humans with AI.

Insider Today

Elon Musk's secretive and futuristic brain-chip company, Neuralink, has begun implanting its devices in human skulls — and like many of Musk's ventures, the new technology has been met with both fanfare and skepticism.

The US Food and Drug Administration granted Neuralink approval in 2023 to begin testing the implant in humans. The company inserted a chip into its first human patient in January of 2024, and Musk said the early results showed "promising neuron spike detection."

Musk, who also runs companies like Tesla and SpaceX, named the first product Telepathy, and announced that the product will enable humans to control a phone or computer "just by thinking."

What does Neuralink's brain chip do?

Musk and Neuralink have publicly flaunted a variety of goals for the implanted devices, some of which are intended for the near future, while others are long-term ambitions.

Neuralink's current priority is to treat patients with neurological conditions, such as paralysis and blindness. Initially, in the first human trial, Neuralink's goal is to help patients with paralyzed limbs control devices like a computer mouse or keyboard with only their thoughts. 

Musk has reported some success on this front, saying in February 2024 that Neuralink's first human patient was able to move a mouse cursor around the screen. Musk said the next near-term goal is for patients to hold a button down with their minds.

In the future, Neuralink aims to restore full mobility to paralyzed patients and sight to blind or visually impaired patients.

"Imagine if Stephen Hawking could communicate faster than a speed typist or auctioneer. That is the goal," Musk said in January of 2024. 

But Musk's ambitions don't stop with simply treating medical conditions — much like his space-exploration company SpaceX , Musk's ambitions for Neuralink are to break technological frontiers.

Musk has said he wants Neuralink to ultimately help humans achieve "symbiosis" with artificial intelligence so that they don't get "left behind" as AI evolves over time.

"In the long term, Neuralink hopes to play a role in AI risk civilizational risk reduction by improving human to AI (and human to human) bandwidth by several orders of magnitude," Musk said on X, formerly known as Twitter, in 2023.

Musk has also referred to the device as a "Fitbit in your skull," and floated ideas like using the devices to allow people to save and replay memories .

"The future is going to be weird," Musk told a crowd in 2020.

Who can get the Neuralink?

Neuralink began recruiting prospective patients in late 2023, shortly after receiving FDA clearance for a human trial. Immediately, thousands of people expressed interest in Neuralink's brain implant surgery .

Related stories

But Neuralink's application comes with an eligibility screener — not just anyone can sign up. Patients must be legal adults, they must hold US citizenship or permanent resident status, and they must have one of the following conditions: "Quadriplegia, paraplegia, visual impairment or blindness, aphasia or the inability to speak, hearing impairment or deafness, and/or major limb amputation (affecting above or below the elbow and/or above or below the knee)."

Neuralink has said it's specifically searching for individuals with quadriplegia, at least 22 years old, and who have a "consistent and reliable caregiver." The company has also ruled out anyone with active implanted devices like pacemakers, anyone with ongoing conditions that require MRIs, and people with a history of seizures.

Applicants selected to participate in Neuralink trials will have to participate in a roughly 18-month-long primary study, involving nine at-home and in-person visits, and two weekly hour-long research sessions. The trials also involve long-term follow-up visits over a period of five years.

How ethical is Neuralink?

Like several of Musk's companies, Neuralink has come under ethical scrutiny — both for its existing research practices and potential moral quandaries that could unfold in the future as the technology advances.

Critics have frequently assailed Neuralink's missed projections for human trials. Musk had initially promised in 2019 that human trials would begin the following year, but it wasn't until 2024 that the first patient received the brain chip.

Neuralink's animal testing practices have also made headlines in recent years. In 2022, an animal-rights group obtained more than 700 pages of public records indicating that monkeys used in Neuralink research underwent "extreme suffering as a result of inadequate animal care and highly invasive experimental head implants during the experiments."

Neuralink rejected allegations that monkeys were mistreated and said in a statement that the company is "committed to working with animals in the most humane and ethical way possible." Musk later said the test monkeys live in " monkey paradise ."

The FDA rejected Neuralink's bid initially to launch human trials, citing concerns that the implant would overheat, move around in the brain, or even damage brain tissue. Neuralink apparently resolved those concerns. However, because, in the spring of 2023, the FDA approved Neuralink's first human trials.

What are the risks of Neuralink?

In addition to typical risks of neurological surgery, scientists have also questioned the unintended consequences that could arise from merging the human brain with computers.

In recent years, even the very concept of a brain chip has come under ethical scrutiny. Neuralink is far from the only company building and testing what's known as a brain-computer interface — meaning, a device that allows a brain to communicate with a computer — and researchers have found both benefits and downsides for patients who have received BCIs for medical purposes.

Researchers have reported that while many patients undoubtedly benefit from the technology, others have experienced feelings of being unable to recognize themselves or losing their sense of self — a phenomenon known as "estrangement." 

Bridging the gap between a computer and a human brain also poses ethical quandaries about privacy and security. Experts have speculated that computers could access, decipher, and store brain activity, leaving that data vulnerable to hackers.

Musk has appeared largely unconcerned, however, and has pledged several times to implant a Neuralink device in his own brain.

How successful have Neuralink implantations been?

Though Neuralink's brain chip has only been implanted in one human, the company has tested it in a number of pigs and monkeys.

In 2020, Neuralink revealed it had implanted a chip in the skull of a pig named Gertrude. The company released footage showing that the chip could record neural activity, and could accurately predict the pig's limb positions as she walked on a treadmill.

Neuralink released further footage in 2021 showing a monkey playing video games with its mind. Neuroscientists were unimpressed, telling Business Insider that Neuralink is far from the first to do so — scientists have used neural interfaces to allow monkeys to control computer cursors since 2002.

Watch: Elon Musk offers Starlink internet service to Gaza, enraging Israel

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Wedding Palace

Moscow-City

The foundations for Wedding Palace was executed by BAUER Technologie the Russian branch company of BAUER Spezialtiefbau GmbH. Scope of works was 163 pieces of D1500mm piles, each 30m deep. Cementation under each pile, and two Osterberg cell tests. The foundation was successfully completed between July-December 2008. For more information visit: BAUER Technologie

Moscow International Business Center

Imperia Tower is a multipurpose complex located on plot 4 of the Moscow International Business Center. It will consist of 2 buildings, the mixed-use Building A and the water park entertainment complex in Building B.

Moscow International Business Centre

Building A, totaling 60 floors, will incorporate over 70,110 square meters (750,000 sq ft) of office space, 45,000 m2 (480,000 sq ft) of apartments, a 280 room hotel (30,000 m2/320,000 sq ft), and assorted retail outlets.

Moscow International Business Centre

Building B will incorporate the water park and will be a focus of entertainment for the MIBC Complex. It will also house a shopping mall, restaurants and cafés, and will be open year-round.

Eurasia Tower

Moscow International Business Centre

The Eurasia Tower, located on plot 12, is an office/recreational space with a total area of 207542 square meters. It will be situated on a three-tier podium in which will be placed a fitness center, entertainment, restaurants, and shops. Other areas will be distributed as follows: 106 231 square meters will be reserved for office space, and residential apartments will occupy 21185 square meters. On the bottom, there will be parking for more than 1000 cars. The external design of the building is a combination of classical and modernist style. On the outside of the building, a scenic elevator will run up and down for views of the entire city.

  • Number of Floors: 67
  • Height: 305 meters
  • Total Investment: $250 million
  • Total Area: 207,542 square meters
  • The area of office premises: 106 231 m
  • The area of premises: 21 185 m
  • Parking capacity: 1000 places
  • Developer: Mos City Group
  • Eurasia Tower site
  • Official site TechInvest

Federation Tower

Moscow International Business Centre

Federation Tower will be Europe's first supertall tower, and the second tallest tower in Europe after Russia Tower.

  • Tower A: 93 floors - 360 metres tall
  • Tower B: 62 floors - 243 metres tall
  • Tower C: Spire - 506 metres tall

The unique construction combines architectural elegance, comfort and ergonomics. Upon completion, this will be the tallest building in Europe, at the height of 506 metres.

Office complex "Federation" is on plot 13 MIBC "Moscow-city". The structure represents a design of two tri-hedral towers with height of 360 and 243 metres above the ground, located on a common base of 10 floors. Between them the spike, with a height of 506 metres. In the towers a restaurant is planned, along with office psuites and residential apartments divided by technical floors. In the spike elevators with panoramic views and an evacuation stairway will be placed. In the base of the towers a full complex of retail and household services is planned. The underground part includes parking places, technical premises, and the walkway connecting the complex with the central part of a Business Centre, northern departure and a complex 12 site.

  • Developer: ZAO Mirax-City, Russia
  • Employer: ZAO Mirax-City, Russia
  • Architect: Prof. P. Schweger and S. Tchoban (Germany)
  • Total Investment: $500 million
  • Total Area: 425,000 square metres;
  • Total area of a plot: 1,07 hectares
  • Height: over 506 metres
  • Construction began: 2004
  • Official site

Mercury City Tower

Moscow International Business Centre

Multipurpose building with housing and open space, premises of trading and cultural appointment «Mercury City Tower» on plot 14 MIBC "Moscow-city". The structure's height is 322 metres (with a spike bringing it to 380) above the surface of the ground, with five underground floors. In a building office premises, apartments, the trading areas, and also restaurants will be located. The underground part, consisting of 5 floors, includes parking places, technical, and retail space.

  • Architect: M.M. Posohin, Frank Williams (USA), G.L. Sirota
  • Total area of a plot: 0,4975 Hectares
  • Total Area: 158,000 square metres;
  • Height: 380 metres
  • Amount of floors: 70
  • The area of offices: 86 000 square metres
  • The area of Apartments: 24 000 square metres
  • The area of Fitness centre: 5 000 square metres
  • The area of Restaurants: 3 500 square metres
  • Trading premises: 6 200 square metres
  • Those a premise: 16 900 square metres
  • Parking place: 18 000 square metres

Russia Tower

Moscow International Business Center

Construction began in September, 2007, and is planned to be completed in 2011. Upon reaching its final height of 612.2 metres (2,009 ft), it will be the tallest building in Europe and the second tallest in the world.

The total area of the structure will cover 520,000 m² (5,597,233.4 sq ft), of which 38% (200,000 m² (2,152,782.1 sq ft)) will be located underground. The tower will contain 118 floors, 101 lifts, and underground parking to accommodate 3,680 cars. Commercial retail shops will be located at the base of the building. The maximum capacity of the building is projected to be around 30,000.

Moscow Skyscrapers

The first ten floors will be occupied with the common part in which the parking will be placed. In the bottom part of a tower of office premises, a hotel will be located, the top floors will be occupied by apartments. In a business part of the project is expected to house a large congress centre, hotel, an entertainment zone, and a casino and park of attractions. Construction is planned on a plots 17-18 MIBC "Moscow-City". The developer of the project is the Moscow company (MDC), in cooperation with the city government and CT-Towers is the affiliated structure STT Group created for realization of projects in MIBC "Moscow-City". The final project of a tower has been presented by architect Norman Foster on March 15th, 2006 at exhibition MIPIM-2006 in Cannes. After completion, Russia Tower will become the tallest tower in Europe.

  • Total area of a plot: 2,19 hectares
  • Total Area: 520,800 square metres
  • Amount of floors: 118
  • Height: 612 m
  • Cost of the project: $1,5-1,7 billion
  • Spaciousness of the built in parking: 3680 place
  • Amount of lifts: 101
  • Construction began: on September, 18th, 2007
  • Construction completed: 2012
  • The status of the project is currently preparation for construction
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Direct File officially opens in 12 pilot states following positive early reviews; eligible taxpayers can file online directly with the IRS for free

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Taxpayers encouraged to try innovative new option before April 15 deadline

IR-2024-68, March 12, 2024

WASHINGTON — The Internal Revenue Service announced today the full-scale launch of the innovative Direct File pilot and encouraged eligible taxpayers in 12 states to try the new service to file their tax returns online for free directly with the IRS.

The pilot effort has been in testing mode for several weeks, allowing early users to file their 2023 federal tax returns online for free and directly with the IRS. Thousands of taxpayers have successfully used the system, and early users are giving the new option positive reviews.

Following the initial Direct File success, the IRS is moving the pilot out of the test phase, allowing all eligible taxpayers in the 12 states – representing 19 million taxpayers – to use the system at any time. Taxpayers can log in to Direct File to start their return and complete it any time before the April filing deadline.

“The early results from Direct File have shown taxpayers like the ease and convenience of the tool, and moving into the full-scale launch of the pilot will give more taxpayers the chance to use this free option,” said IRS Commissioner Danny Werfel. “Expanding Direct File as the tax deadline approaches will provide more taxpayers a way to file directly with the IRS for free, and it will give us more valuable information to assess this pilot. For those who haven’t filed their taxes in these 12 states, we encourage them to visit IRS.gov and see if Direct File is the right option for them.”

Direct File is one of many options that taxpayers have to file their taxes, including tax software and tax professionals. For the pilot, the IRS worked on a streamlined way for people with simpler tax situations to file directly with the agency.

“A team of experts from across government built and tested the Direct File pilot to give taxpayers an easy, accurate free way to file their taxes online directly with the IRS,” Werfel added. “Our goal with the Direct File pilot is to help people meet their tax obligations as easily and quickly as possible. We developed Direct File from the beginning with taxpayers’ help, and we’ll continue to talk to taxpayers about their experience to learn more about what taxpayers want for future digital services.”

Direct File walks the taxpayer through the complexities of the nation’s tax code to complete their filing easily with an accurate calculation of their refund or tax owed. Direct File is designed to be easy for taxpayers to use. At every step, it shows the work behind the calculations, so users can be confident that the tax return is complete and accurate. Once taxpayers start their return on the Direct File site, they can pause and then securely sign in to finish any time before the April filing deadline.

Users can also get support from special IRS customer service representatives through Direct File’s live chat feature. Direct File, like other electronic filing options, allows taxpayers to typically get their refund in less than 21 days when the direct deposit is chosen.

“We’ve gotten great initial feedback from the thousands of taxpayers who used it during testing,” Werfel said. “Many taxpayers we’ve heard from filed their taxes in less than 30 minutes using Direct File and praised it as an easy, no cost tax filing experience.”

Who’s eligible?

Taxpayers in 12 pilot states who meet certain requirements can use Direct File through the April tax deadline. Pilot states include:

  • Massachusetts
  • New Hampshire
  • South Dakota
  • Washington State

After completing their federal returns, taxpayers in the states with a state-income tax – Arizona, California, Massachusetts and New York -- will be guided to a state-sponsored tool to complete their state tax return.

The IRS designed the pilot to follow the best practices for launching a new technology platform by starting small, making sure it works and then building from there. The pilot is purposefully limited to cover relatively straightforward tax situations.

The Direct File pilot is an option for taxpayers who fall into these categories:

  • Report income earned from jobs that generate a Form W-2; including taxpayers with more than one job with W-2 wages;
  • Claim Earned Income Tax Credit, Child Tax Credit and the Credit for Other Dependents;
  • Claim the standard deduction and deductions for educator expenses and student loan interest;
  • Lived in the same state for the entire calendar year 2023.

Interested taxpayers can go to directfile.irs.gov , where they can determine if they are eligible. Using Direct File requires identity verification through ID.me. Once their identity is verified and they’ve signed in securely to Direct File, they will be providing the tax information directly to the IRS, not a third party.

For taxpayers who visit Direct File but aren’t eligible for the pilot, they will be directed to Free File on IRS.gov . Now in its 22nd filing season, taxpayers across the nation can access free software products provided by IRS Free File trusted partners. Through this public-private partnership, tax preparation and filing software providers make their online products available to eligible taxpayers. Eight private-sector Free File partners provide online guided tax software products this year to any taxpayer with an Adjusted Gross Income (AGI) of $79,000 or less in 2023. Free access to online products is available by starting from IRS Free File.

Direct File pilot for filing season 2024

The IRS launched the Direct File pilot for the 2024 filing season. The Inflation Reduction Act mandated that the IRS study interest in and feasibility of creating a direct e-filing tool taxpayers could use to prepare and file their federal income tax return. The IRS commissioned an independent study, which indicated broad interest in such a system, which the IRS detailed in a Direct File Report to Congress in May 2023.

Shortly after that report, as directed by the Treasury Department, the IRS assembled a team of tax experts, technologists, engineers and strategists from across government to build the Direct File system. The IRS worked closely with the U.S. Digital Service and the General Services Administration’s technology office 18F to build and test Direct File.

Initial testing began in early February 2024 with a handful of federal and state government employees, followed by short open availability windows for more taxpayers to start their returns. On March 4, the IRS announced that Direct File would enter final testing, which included an allotment of available spaces with more spaces added every day. Direct File is now open to all eligible taxpayers in pilot states to decide if it is the right option for them to file their 2023 federal tax return online for free, directly with IRS.

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    Below is a salon business plan example to help you create your own beauty salon business plan. Executive Summary Business Overview. Major Lengths Beauty Salon is a newly established hair and beauty bar located in Glendale, Arizona that is founded by Jenna Diaz, a local hair stylist and aesthetician that has worked in the industry for over 15 years.

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    A 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's goals, business model, the type of services you will offer (beauty services, spa services, nail services, skin care services and/or hair salon services), management team, target market, and a marketing plan for the many ways you can reach ...

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    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.

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    Salon Business Plan Template. This hair salon business plan template will help you structure the key components of your business plan document including an executive summary with a financial plan, a marketing plan, the products and services you intend to offer, an operations plan, and finally, details on the management team.

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    Our salon business plan template works for all types of salons, including: Hair or Beauty Salons: which most commonly include hair-cutting, coloring and styling hair and other beauty services. Nail Salons: which typically include nail treatments, manicures and pedicures. Hair Removal Salons: commonly include waxing and other forms of hair ...

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    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.

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    A beauty salon business plan is one of the keys to ensuring your operation thrives. It is a living document that accompanies your salon's growth and helps you define purposeful strategies. Thorough market research will provide a sturdy base for your plan. Remember to analyze both your target audience and competitors and specify your positioning.

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    Here we've broken down the entire process into 7 easy-to-follow, foolproof steps, along with their templates, to help you create a successful salon business plan. Write a mission and vision statement. Create an executive summary. Analyze and identify your target market. Perform a competitor analysis.

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    The executive summary of a beauty business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan. Start with a one-line description of your beauty company. Provide a short summary of the key points in each section of your business ...

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    A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows. A business plan has 2 main parts: a financial forecast outlining the funding requirements of your beauty salon and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which ...

  16. A step-by-step guide on how to start a beauty business

    01. Research and define your niche. Let's start with the basics. To establish a beauty brand, it's crucial to understand your target audience. Researching and defining your niche or specific beauty business idea will set you up for success by differentiating you from competitors and attracting your target audience.

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    A good business plan for a beauty salon must be tailored to the nuances of the beauty industry. ... The projected income statement outlines expected revenues from our beauty services, including hair styling, skincare treatments, and other aesthetic services, as well as the costs of goods sold (beauty products, supplies), labor, and operating ...

  19. How to Start a Salon Business

    15 Steps To Start a Salon Business: Choose the Name for Your Salon Business. Determine the Type of Salon Business You Will Launch. Develop Your Salon Business Plan. Choose the Legal Structure for Your Salon Business. Secure Startup Funding for Your Salon Business (If Needed) Secure a Location for Your Business.

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  21. Hotel The Ritz-Carlton in Moscow

    The business guests of this five-star hotel of Moscow can use a full-service business center, high-speed Wi-Fi Internet access in public areas and conference halls. The hotel also features Spa by ESPA with indoor pool, hotpool, sauna and steam room, a beauty salon, 2 hotel restaurants and 2 bars.

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    Beauty studio Bliss, Moscow, Russia. Skin Care Service

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    In the base of the towers a full complex of retail and household services is planned. The underground part includes parking places, technical premises, and the walkway connecting the complex with the central part of a Business Centre, northern departure and a complex 12 site. Developer: ZAO Mirax-City, Russia; Employer: ZAO Mirax-City, Russia

  26. PDF Business Planning and Modeling

    Definition of business plan. Business Plan presents the calculation of the financial indicators that enable the managers to evaluate the financial performances of an entreprise in order to take decisions. Business Plan summarises the results of the planning process: the objectives to reach ( subscribers demand, sales)

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  28. Moscow

    Moscow - St. Petersburg. Price per person. 641,69. View details. About the tour Reviews 10. 8 days / 7 nights. St. Petersburg Moscow. We offer you a unique opportunity to visit Russia's two largest cities, Moscow and St. Petersburg. This fascinating, week-long tour will take you to the historic Russian capitals that have always played the most ...

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  30. Direct File officially opens in 12 pilot states following positive

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