A successful business plan for your hair salon

A successful business plan for your hair salon

That’s it, and you’ve decided to get started. Your passion is itching, and you want to practice your hairdressing skills on your own.

Certainly, you are gifted, but you cannot only bet your success on your skills. The hairdressing salon market is very tense, and you will need to draw up a detailed business plan to make no mistakes and ensure sufficient financial profitability.

Hairdresser at home

Suppose you want to be flying without premises. In that case, you will need to acquire a minimum of equipment (vehicle, water tank, etc.) and carefully analyze your market because, without a customer, your activity will be doomed to failure. for more information about the hair salon business plan, please visit https://www.mbplans.com/hair-salon-business-plan/

To do this, do not hesitate to conduct a small market study (phoning, a survey in commercial places), meet local elected officials if you are in the countryside, and ask for a helping hand from the Chamber of Commerce and ‘Industry.

Also, remember to consult our guide to mandatory posting in hairdressing salons to comply with the law.

Hair salon

Now, suppose you wish to establish yourself at a physical address. In that case, you will have to refine your file and prepare a very detailed hairdressing salon business plan to obtain the financing necessary to set your activity.

The choice of location will be decisive for the future success of your business: a place in a busy street will cost you more in rent but will naturally attract customers, while a location more set back will allow you to benefit from a lower rent but will require a larger marketing budget.

A stagnating market

Although the sector’s turnover (turnover) remained stable at 6 billion euros in 2013, the fact remains that turnover in volume is experiencing a downward trend.

In other words, the number of hairdressers has increased, and all share the same cake, resulting in a drop in profitability per trade. Today no less than 16,000 hairdressing salons (26% of the park) are on sale in France. These are generally family businesses that cannot find buyers ( Challenges ).

Structure your approach

As you will have understood, you are not tackling an activity without competition, and you will have to arm yourself to succeed.

Here are some points you will need to study in particular to make a successful business plan for your hair salon.

Establish a market study

Start by doing industry research to keep up to date with new trends.

To calculate your cost price, you will have to consider various factors such as the standing of the salon (current, Haute-hairstyle, well-to-do clientele, etc.), your structural costs, your salary costs, etc.

Detail your business opportunity: takeover of a salon with existing clientele, creation of a business, or branding.

There is no right or wrong choice here. It all depends on the amount you have to invest, the level of competition in your target location, and your personal decisions (willingness to be independent or not).

If you want to take over an existing business, also consider studying the opportunities for leasing–management of an existing business. This mode of recovery allows you, for rent paid, to drastically reduce the amount to be invested at the start.

Determine your financing needs

As an indication, the average cost of an installation is 52,000 euros for rework and 48,000 euros for pure hair salon creations.

Be careful, and these figures hide exponential differences depending on your mode of installation: count 52,000 euros for an independent salon and up to 111,000 euros for a franchise.

In addition, the area of ​​implantation, rural, city, and large cities, can modify the amount of investment required.

Your cost structure will depend in part on your choices in terms of investment (purchase vs. rental or leasing), your marketing strategy, and your staffing needs.

Again as an indication, the site www.mon-projet-coiffure.com estimates that the distribution of the turnover of your hairdressing salon should look something like this:

Choose the right status: sole proprietorship or company.

Again there is no right or wrong choice: it depends on your situation, preferences, and ambition.

It is best to take advice from a lawyer.

As you can see, mastering the art of hairdressing alone cannot guarantee your financial success. So before you start, take the time to establish a solid business plan for your hair salon. If you read more articles, visit https://kitarticle.com/


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