How to Write a Business Plan for a Beauty Salon

Video Transcript

"So you are all excited, you just finished beauty school and now you want to start your own salon. Well my name is Sylvia Russell and I'm going to show you how to write a business plan for a beauty salon. Now there's a few things you must know. You got to have some things in order. Make sure you have pen and pencil to write this down. Make sure and research your local area. Find out what the other salons are, who they are, and what they are doing. This will be important in your business plan on deciding what type of services you are going to offer in your area. Now if you plan on going to a bank, this is vital. They want to know that you have a niche. Something different from all the rest. Something that no one else offers, and something that you can specialize in. This will set you apart and give you the opportunity to get the funds needed to house your beauty salon. Now make sure that you check with your local and state authorities on what type of licenses you need to open a beauty salon. Next thing finances. How much money do you have? Do you have some friends and family that can possibly loan you some money so that you don't have to go to a bank? You don't need a lot of money to start a beauty salon. But you need a little start up cash. Remember you don't want to get over your head, start small and grow. This will help you stay well beneath any high finances or with a bunch of overhead. Remember writing a business plan is something that is easy. You already know the answers to the questions, write them down. What do you want? Where do you want to do and where do you see yourself in years to come? These are simple questions and I know that you have the answers. My name is Sylvia Russell and this is how you can write a business plan for a beauty salon."