Salon business plan

Salon business plan

When it comes to creating a salon business plan many new salon business owners will create a business plan that includes things g such as rent,, electricity, y, phone bills, approximate cost of supplies and as many outgoings as they can possibly think about. Once this is complete, they’ll write down an approximate i t off how h much h money they’ll make, based on population and competition in the area. area

They may consider their advertising budget and that budget…and that’s s where it all ends. ends Often this business plan document ends up in a nice little pile pile, tucked away in a desk draw or on your laptop somewhere that y you’ll never remember to look again. g So how do you bring a business plan to life?

The business plan I am talking about isn’tt really about outgoings and potential isn earnings. I’m sure that once you’re in business for more than a month you’ll y start understanding what your outgoings are VERY QUICKLY! What you really need to keep in mind is how much you want your salon to t turnover.

Once O you h have thi this figure fi you can start working backwards. Divide it into monthly targets targets, weekly targets targets, daily targets and so forth.

Obviously your outgoings will be factored in to your expected turnover figure, figure but what you need to focus on are a few key principles p p called y your Key y Performance Indicators (your KPIs). you don’t understand these If y fundamentals then you will have a business that can work itself into the ground d very rapidly. idl A As well ll as have h you burning the candle at both ends being busy but ineffective busy, ineffective.

Yes there are countless tasks on your todo list when you become a salon owner. owner So let’s take a look at where you really need to stay y focused in order to stay y in business for the long term. g business A successful and thriving requires constant vigilance of the following four areas of your salon’s performance. f

These include:  1. Gaining new customers 2 Retaining 2.

R t i i customers t 3. Increasing customer service spend 4. Increasing customer retail spend  That’s it.

I know you’re used to being busy 24/7 but being busy doesn doesn’tt always ensure great results. Now if you can create a business plan around these four areas and work towards improving p g each of these areas in your business every day, then I can guarantee you that you will have a th i i thriving, profitable fit bl and d long l standing t di salon business.

Understanding and always aiming to improve the 4 key areas that I have mentioned above are what will ensure your business’ growth y g and profitability. p y It will allow you to have more time and money y freedom to do more of the things g that matter most to you. http://www.acceleratingabundance.com