Hair Salon Business Plan Template
If you want to start a hair salon business or expand your current one, you need a business plan.
Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their hair salons.
Below are links to each section of your hair salon business plan template:
Hair Salon Business Plan FAQs
A business plan provides a snapshot of your hair salon as it stands today, and lays out your growth plan for the next five years. It explains your business’ goals and your strategy for reaching them. It also includes market research to support your plans.
If you’re looking to start a hair salon or grow your existing hair salon you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your hair salon in order to improve your chances of success. Your hair salon business plan is a living document that should be updated annually as your company grows and changes.
With regards to funding, the main sources of funding for a hair salon are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a hair salon business.
The second most common form of funding for a hair salon is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a hair salon. They might consider funding a chain of hair salons, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.
Growthink's Ultimate Salon Business Plan Template allows you to quickly and easily complete your Salon Business Plan.
You can download our hair salon business plan PDF template here. This is a business plan template you can use in PDF format.