Do you want to run your barber shop? Of course, it’s a good business idea! However, you should not decide to open a salon blindly. If you want to increase your chances of success, start by preparing a good business plan. We will tell you which aspects you should pay particular attention to.
Market analysis for the business plan
Opening a barber shop is associated with high costs, especially renting the premises and proper equipment. Hence, it is important to thoroughly analyze the market before taking a risk. Therefore, it is worth asking the following questions:
- How many hairdressers are there in a given city, district, etc.?
- What number of customers per month can the new plant count?
- What is the demand for competitors’ services?
- What are the requirements for modern salons?
- Maybe it is worth considering the provision of additional services (e.g., nail styling, barber services – see also barber furniture)?
- What are the forecasts for the development of the salon in the next few years?
Before completing the formalities related to setting up a barber shop, try to analyze how the competition works carefully. It is worth checking what services are provided in modern barber shop. It would be good to stand out in some way in the market. An excellent solution is, for example, offering modern, bold hairstyles in which professional barber shop equipment will certainly help. The fact is that more and more people are interested in artistic hairstyles, and these are not offered in all salons. It can therefore be a good idea to attract customers.
The location of the potential showroom
Probably no one will deny that the location of the new barber shop is very important. If you don’t already have an established brand, look for a place that is often frequented and relatively busy. The attractive location will attract customers. Remember, however, that there is no point in opening a new barber shop
on a street where several other thriving salons already operate. The best choice is a frequently frequented place, but at a distance from competing salons.
SWOT analysis. Assessment of the project’s potential
SWOT analysis is one of the oldest and most popular ways to determine the potential of a given project on the market. SWOT stands for “strengths”, “weaknesses”, “opportunities” and “threats”. When it comes to the strengths of a new barber shop, these can be:
- good localization;
- qualified staff;
- highly experienced in the industry;
- additional services;
- professional hair cosmetics;
- own customer base.
Weaknesses include:
- high monthly costs;
- a new brand that is not yet recognizable in the local market.
Examples of opportunities:
- increasing demand for barber shop services;
- granting a loan by a bank;
- advertising in social media.
Example of threats:
- possible increase in rent;
- loss of a customer to competitors;
- development of competition.
Organization of the salon’s work
For a barber shop to turn out to be a profitable enterprise, it is necessary to ensure proper organization of its work from the beginning. First of all, it is necessary to ensure that the salon’s equipment complies with the current legal regulations. Each barber shop must comply with the current sanitary regulations. In addition, you should consider supplying the salon with barber shop equipment and furniture, as well as professional barber shop cosmetics. It is worth considering what amounts of barber shop cosmetics will be necessary. The point is to prevent an empty warehouse from preventing the salon from working. Another issue is hiring the right staff. Before starting the recruitment, you should consider what qualities and skills you are looking for in the employee. It is also worth determining the remuneration issues, the number of employees, bonuses, incentive supplements, training for employees, etc., in advance.
For more information you should visit business plan consultant.
Advertising of a barber shop
We probably all have heard the saying that advertising is a lever for trade. It is so! Your website and active social media profile are a must if you want to attract new customers. Now and then, it is worth informing on social media about promotions and special offers. Contests for potential clients are also very popular. It is also worth developing a system of discounts for regular customers.
Financing of activities
When preparing a barber shop business plan, you cannot escape financial issues. In the beginning, you should estimate how much the initial investment in the premises will be, the costs of any renovation work, and the costs of barber shop equipment. The next step will be to estimate the expected revenues. For this purpose, it would be good to pay attention to the traffic in nearby salons and, on this basis, determine what revenues are real. If it turns out that they are lower than the assumed monthly expenses of the salon, maybe it is not worth starting a business. Sometimes, however, it is enough to change the location and search for cheaper equipment to minimize costs. You can also try to get a subsidy from the Employment Office to start your own business. In this case, please contact us. Our specialists will make a quote for you, which you will present to the office. Thanks to our many years of experience, our clients receive grants to open their businesses and run their dream salons. Please do not hesitate to contact us. If you want your business plan to help establish and run a new barber shop, try to avoid excessive optimism, especially in financial matters. It is worth making efforts to realistically assess your chances on the market.
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