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1. Research and define the Business Terms in this Google document. (File and Make a Copy.)
2. For DIRECTIONS, use this Template for your Business Plan. This template has links to resources for cosmetology.
- Each section in your business plan should be at least one page in length, totaling at least seven pages. (For a clean one to download, click here.) Here is a sample of an ideal business plan.
3. While doing your research, decide what type of salon you want to manage:
- A franchise that you open through a corporation
- A private business where you open your own salon (Will it be a booth rental shop? Will you pay people hourly? Or hourly plus commission?)
- Consider if you'd like to work in and manage your own salon or if you would strictly be the business owner.
4. Present your Business Plan to the class using your choice of:
- Google Slides
- Genial.ly or Canva
Lisa DeNapoli, Cosmetology 04
Jennifer Jourdain, Librarian
Creating Your Business with Design and Research
Before you get started:
Booth Rental vs. Opening Your Own Salon
Salon Opening Checklist and Planning Guide
10 Things to Do Before Opening a Salon
How to Open a Salon With or Without Money
Here's a very simple business plan for Penny's Salon
A Creative Beginning:
- From the "10 Things" article: "Create a vision for how you want clients to feel, what you want them to experience and what adjectives clients will use when describing their experience...This will help in developing a look, feel and atmosphere."
- Now develop your Brand Identity! Watch this video to get started. This website by Venngage has lots of guidance for you.
- Fill out this organizer to develop your Brand Identity. (Click File and Make a Copy.) This contains your Brand Personality, Brand Message, and Brand Visual Identity.
- Create a logo: Make sure it's original to you! Watch this to get started. Create one in Canva.com
- Using Canva, create a business card with your new logo and your name and address.
Find a Location:
- Read this article first on choosing a location for your new business. Fill out this organizer (File and Make a Copy) to figure out where you want your business to be located.
- Research a location: Search for existing businesses in your potential community using Google Maps. Find a town or city, then zoom in. Search appropriate search terms that describe your business (ex: hair for a salon) to get an understanding of your competition and neighboring businesses.
- Find a place to lease or buy on Loopnet.com (if you're renting out a space).
- Find a business to buy on BizBuySell if you're looking to purchase an existing business or franchise.
Products, Equipment and Services:
Estimating Starting Costs:
- Read this article to get started for estimating start up costs for a salon. Read this one too!
- Decide products or services you would like to offer.
- Google to find stores which sell equipment. Search for salon equipment. Look at the prices of new and used equipment. Start a running list of what you will need with prices. Also, take note of decor! You can get ideas on how you want your salon to look. Take into account your potential clientele and your budget.
- Fill out this spreadsheet for Start Up Costs, customize as needed.
- Who will manage your salon? If it is you, you will need knowledge of bookkeeping, business laws, insurance, marketing, and lots of time and dedication. You'll need to update and attach your resume and list experience you have in these areas. You (or your staff person) will need to be a licensed cosmetologist. Check out this site for information on what your state requires for licensing (scroll down).
- Learn about the job market and outlook for cosmetologists based on stats and wages information based on data from the Bureau of Labor and Statistics. Estimate what you think you will earn in salary and what you would pay your staff (if you have staff).
- Firstly, you have to define your Business Structure. This will determine how you much of you is in the business and how you'll pay taxes. Go to the SBA page for information and assistance.
- You'll need to register your business name in one of four ways. Go to the SBA page for information and assistance: Entity name protects you at state level. Trademark protects you at a federal level. Doing Business As (DBA) doesn’t give legal protection, but might be legally required. Domain name protects your business website address.
- Once you know your community, find the following by using Google: A lawyer or law firm, an insurance company, and a local bank.
- Licenses and Permits. Go to this site for assistance. View this application from Massachusetts.
Binder: There is a binder on reserve with lots of information on starting up a salon (and a business in general). There are also sample business plans. Copies are available upon request.