Following a business plan for a beauty salon is the path we must trace for our business. Both to start and to operate, a business plan is essential. Many times starting a business, we associate it with “jumping into the water.” However, this is no guarantee of success or that things will work out. Following this metaphor, to increase the chances of success, it is necessary to know how deep the water is, the ideal angle to launch ourselves and how we should do it. And to operate a beauty salon, the case is the same. We must have some minimum parameters that help us follow a path. A beauty salon business plan will also help us better control the salon, see what is missing if it is not following the correct path and thus make the respective adjustments to get back on track.
The components of a business plan
Each business is different from the others. For example, a business plan for an architectural firm is not the same as for a baseball team. But when it comes to a beauty salon, some points are fundamental.
Here we must ask ourselves our objective with the business since we dedicate ourselves. This is where we define our mission, vision, and values. Having these factors clear will always help you get on track when the ship starts to rock, or you must make decisions.
We define who our business is aimed at. You cannot serve everyone; you must focus on a specific sector or segment. What age is our ideal audience? Where does it come from? What do you work on? Will men also be served or only women?
Analysis of the competition
Who is our competition? Any salon or just the ones with hair services? Is it competition from selling nail products on the other side of the mall? Here we have to be clear about how we can differentiate ourselves from it and what our value proposition is going to be. It may be the service, an exclusive brand, or a unique technology in the market, among others.
This part will vary over time depending on future needs and growth. First, however, we must be clear about what personnel we must have now (in case it is already operating) or when the business opens. It is also important to consider details such as rotations if more staff will be needed during some days of the week, by the end of the year, or for specific events. Finally, at this last point, know where to get them.
SWOT analysis is a classic in any management course. And it is due to its great importance.
It is vitally important to identify, recognize and define each of them. By knowing what our strengths are, we will know how we can differentiate ourselves and what our strengths will be. With the opportunities, we will see how we can grow and improve. The weaknesses will tell us where we should improve or in which branches of the business it is better not to operate. Finally, threats indicate potential problems that do not depend on us, such as pandemics or theft, so you have to plan for that.
The marketing plan will help us define how we will position our beauty salon, whether it is being operated or is about to start. How do we want to make ourselves known? How are we going to retain customers? Can we make marketing alliances with some brands? In the digital age, a marketing plan is based on social networks and, in Latin America, also on WhatsApp. The latter is a means of communication and publicizing promotions or news.
The last and most important. If the finances are not going well, then everything else is useless. Finances are the most important thing in a business. And by that, we do not mean you have to have monthly profitability or cash. With finances, we refer to how we will manage monetary resources, from where we will finance our investments in products or furniture. If we are starting, we must know the month we plan to start making profits and how to finance ourselves until that month arrives.
It is not enough to have a clear business plan. This must be in writing. And of course, it can be updated, the lines of business change, and sometimes you have to pivot, but the base must be the same.
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