MAKE A FINANCIAL PLAN FOR YOUR BEAUTY BUSINESS

If you are planning to start any beauty business it might require all the financial help you can get. The first thing you think about is getting a loan. In order to get a loan, you must make a financial plan for your business. A very nice financial plan was done by a spa where I went to get smoother and clearer skin.

The first step is to write an introduction. Start off by writing few lines about how having this business means concentrating and focusing mainly on customer satisfaction. Customer satisfaction includes providing excellent service, offering hygienic and enjoyable ambiance, using good quality products and providing the best price.

The second step is to write startup summary. Choosing the right place is important, mention the details of where the salon will be located. The strategic importance of that area. After this start listing the capital required for each aspect of interiors, leasehold improvements, equipment and training employees. It is also important to mention how much capital the owner is going to invest and how much he wants to borrow. Using tables and graphs will make it easy to understand.

The third step is to add products and services. Products and services, you will be including. Make a list of packages you are providing for the best value.

The fourth step is to note down the competitive edge after researching. Mention the strategies that you are going to implement in this section. Strategies such as special services and skills you and your employees will have. You can do some research and study about other competitors and add few points which their business is missing. This will give a competitive advantage.

Other things you need to include are

  • Organize and add marketing plan
  • Make sure to include financial plan
  • Mention the forecasts and milestones your willing to meet
  • Mentioning all the human resources
  • Write a business plan summary, however, this is something that you include on the first page of your plan but it is written at the end of the full planning.