Hair Salon Business Plan

Opportunity

Problem

First impressions are everything. It is important to make a good first impression by getting a really great haircut. It is not possible for everyone to afford a great haircut that takes a couple of hours and costs a few hundred dollars. A lot of families have budget constraints. These families need somewhere to go to do this stuff.

Solution

Cranium Filament Remedies will be distinguished by their superior customer care. Cranium’s “quick salon” business model is characterized by a lower margin and a need to quickly fill customers.

Market

Hairstyling is highly fragmented. Regis Corporation runs a variety of franchises that cater to all market segments. Regis Corporation also owns thousands of smaller salons that offer very limited scope and services. This creates a highly competitive market with low barriers for entry and exit. In addition, the clients of hair styling have significant leverage due to the low switching costs they have. Most companies have tried to gain market share by pursuing a single strategy. Cranium believes it is possible for a company to provide a differentiated service by offering better customer service at a lower cost, provided that the employee incentives are right.

Concurrence

Different buying patterns exist for men and women. Men are usually more focused on convenience and price. Men typically care less about the task of getting their hair cut. The easiest solution is what they prefer. Women, on their other hand, get more involved in hairstyles and are more likely to form close relationships with their stylists. Because they bond more, they are much more loyal to their stylist. They are more open to trusting their stylists and will be willing to let their hair go.

Why Us?

Cranium Hair Color Reductions’ aim is to offer hair styling that is affordable and easy. Our goal is to maintain and attract customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.

Expectations

Forecast

This is a business that provides services, and therefore it does not have high profitability. However, it does provide a way for its employees to earn a living.

Financial Highlights by Year

Financing is Required

The amount of financing needed is $105,000 That includes a $45,000 loan, and owner investment (Susan) of $60,000.