1.
Executive Summary
Business Name: Penny’s Hair Salon
Location: 9527B Westheimer, Brandon, Manitoba
Owners: Penny Pretty and Frank Pretty Jr.
Mission: To provide high-quality beauty services and products in a
relaxing environment.
Motto: "Customer Satisfaction Guaranteed"
Key to Success: Location, environment, convenience, and reputation.
2. Business Idea and Market
Business Idea: Full-service beauty salon offering hair, nail, and skin
care services.
Market Analysis:
o Target population: 3,500–4,000 (women aged 30–55, income
$25,000–$40,000).
o Competitive edge: One-stop-shop for all beauty needs at
reasonable prices.
3. Marketing Plan
Product: Haircuts, perms, coloring, manicures, facials, etc.
Price:
o Services: 15–\175 (lower than competitors).
o Products: 24–\80 (60% markup).
Place: High-traffic location in Brandon.
Promotion: Word-of-mouth, referrals, local ads, and special discounts.
4. Legal Form
Legal Structure: Partnership between Penny and Frank Pretty.
5. Start-Up Capital
Total Investment: $76,000
o Personal cash: $20,500
o Loans: $51,000 (Line of Credit, CFDC Loan, Parents).
Start-Up Costs: $62,000 (renovations, equipment, licenses, etc.).
6. Organization and Staff
Staff:
o 3 hairstylists, 1 barber, 1 nail technician, 1 receptionist, 1
financial manager.
o Contract workers paid on commission.
Training: Regular skill development sessions.
7. Business Operation and Costs
Monthly Sales Plan:
o Hair services: 75 clients/week ($50 average).
o Nail/facial services: 10 clients/week.
o Product sales: $40/day.
Monthly Costs: Salaries, rent, utilities, advertising, etc.
8. Cash Flow Plan
Projections:
o Year 1: $200,760 revenue.
o Year 2: 15% growth.
o Monthly cash flow detailed in the PDF.
9. Profit Margin
Net Profit: Estimated based on sales and costs (see financial tables).
10. Opening Balance
Assets: Equipment, inventory, leasehold improvements.
Liabilities: Loans, payables.
Next Steps
1. Fill the DOCX Template: Use the above details to populate the
"Business plan format.docx".
2. Customize: Adjust numbers or sections as needed for your specific
salon.
3. Review: Ensure all financial projections align with your goals.
Would you like me to extract specific tables (e.g., cash flow, sales forecast)
for direct insertion into the DOCX? Let me know how you'd like to proceed!
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Here’s how you can fill in the "Business plan format.docx" using the
detailed information from the "salon-business-plan.pdf":
1. Executive Summary
Business Name: Penny’s Hair Salon
Location: 9527B Westheimer, Brandon, Manitoba
Owners: Penny Pretty and Frank Pretty Jr.
Mission: To provide high-quality beauty services and products in a
relaxing environment.
Motto: "Customer Satisfaction Guaranteed"
Key to Success: Location, environment, convenience, and reputation.
2. Business Idea and Market
Business Idea: Full-service beauty salon offering hair, nail, and skin
care services.
Market Analysis:
o Target population: 3,500–4,000 (women aged 30–55, income
$25,000–$40,000).
o Competitive edge: One-stop-shop for all beauty needs at
reasonable prices.
3. Marketing Plan
Product: Haircuts, perms, coloring, manicures, facials, etc.
Price:
o Services: 15–\175 (lower than competitors).
o Products: 24–\80 (60% markup).
Place: High-traffic location in Brandon.
Promotion: Word-of-mouth, referrals, local ads, and special discounts.
4. Legal Form
Legal Structure: Partnership between Penny and Frank Pretty.
5. Start-Up Capital
Total Investment: $76,000
o Personal cash: $20,500
o Loans: $51,000 (Line of Credit, CFDC Loan, Parents).
Start-Up Costs: $62,000 (renovations, equipment, licenses, etc.).
6. Organization and Staff
Staff:
o 3 hairstylists, 1 barber, 1 nail technician, 1 receptionist, 1
financial manager.
o Contract workers paid on commission.
Training: Regular skill development sessions.
7. Business Operation and Costs
Monthly Sales Plan:
o Hair services: 75 clients/week ($50 average).
o Nail/facial services: 10 clients/week.
o Product sales: $40/day.
Monthly Costs: Salaries, rent, utilities, advertising, etc.
8. Cash Flow Plan
Projections:
o Year 1: $200,760 revenue.
o Year 2: 15% growth.
o Monthly cash flow detailed in the PDF.
9. Profit Margin
Net Profit: Estimated based on sales and costs (see financial tables).
10. Opening Balance
Assets: Equipment, inventory, leasehold improvements.
Liabilities: Loans, payables.
