Business & Marketing Plans
Business plan
Before opening a salon or barbershop, you should develop a business plan which is a written description of your business as you see it today and as you see it to be in the future. If you have been in the business for some time and don’t have a business or marketing plan, it is recommended that you develop these. Most banks will require you to have an active business plan before they will lend you any money. A business plan is like a blueprint. It will point you in the right direction and if referred to regularly it will keep you your planned path.
The plan should include:
- A general description of the business and the services it will provide.
- A statement of the number of staff to be employed, salaries and other benefits.
- An operations plan that includes price structure and expenses such as equipment, supplies, repairs, advertising, taxes and insurance.
- A financial plan that includes a profit and loss statement and a cashflow plan.
Tips for Writing Effective Plans
When writing plans, keep in mind these simple tips:
- Keep it simple – a variety of staff and stakeholders should be able to easily follow and understand the plan, so ensure you use a clear logical structure and simple language.
- Keep it concise – your plan should be developed through a comprehensive process but avoid overly detailed plans that are too long to be practical.
- Focus on results – plans are only effective if they result in action towards the desired outcomes. Ensure you regularly review and monitor the goals outlined in the action plan.
- Be flexible – planning is a dynamic process, so make sure your plans (and more importantly your people!) are flexible enough to make changes when required. Build some flexibility into your plans by leaving some excess time and resources.
Click here for your own BUSINESS PLAN TEMPLATE
Writing a marketing plan
A marketing plan should also be developed for your business, outlining how you plan to market your business, who your target market is, and your marketing goals.