subject: How To Start A Spa Salon Business Plan [print this page] Author: Francis Featherby Author: Francis Featherby
I've said it before and I'll say it again (with thanks to the inimitable J. Woden): 'Failure to prepare is preparing to fail.' For most things in life you need a plan - you wouldn't drive your car somewhere new without a road directory, so avoid heading into uncharted financial territory without a business plan.When I decided to open my first salon I was flat broke, in debt and had nothing but a great business idea. The bank turned down my first loan application and, because my parents were far from wealthy, my father approached his boss for a loan on my behalf. It was then, at the age of 20, that I learned the importance of a structured business plan. My father's boss made me put my idea down on paper. At the time I thought this was lame but, as it turned out, he did me the biggest favour of all time.To succeed in stating a salon, you need a PLAN. It's your blueprint, a step-by-step guide to fully understanding everything it takes to put your business together, track its growth and ensure its survival. Many stylist's and therapist's devote too much time to thinking about (and discussing) their amazing salon or spa concept, while too few bother with the formality of a business plan.And a plan is absolutely vital if you're seeking finance. No lender (repeat: NO lender) will give you money without evidence that you've done the research and know what you're doing - and that's a carefully constructed, well-written business plan. Lenders will interpret your hair salon management skills first with a good solid understanding of your business plan and other current salon management topics such as having good salon management software and so on.I would never go into business without one. It doesn't make sense to stare risk in the eye without a plan of action. It helps you set goals, determine the turnover necessary to make a profit, better understand financial systems and procedures, assess your marketing needs and establish operational strategies that get you where you want to go.At times, putting a business plan together can be the most annoying and frustrating activity you've ever undertaken. It will stretch your imagination and test your commitment and motivation. I'll warn you in advance, if you don't feel fed up and frustrated at some stage of the process, then you're not going about it properly. If and when it happens, say to yourself: 'It's dangerous when things always go the way I want, because then I'm not being challenged.' The upside is, you'll have to take an objective look at your business concept, assess its (and your) strengths and weaknesses and recognise the challenges you're likely to face in the future and might otherwise have overlooked!Tip bit: Don't employ someone to write your beauty salon plan' it's your vision, nobody knows it better than you, and preparing your plan will be a valuable learning experience. This is not the time to be lazy. By all means ask a coach or mentor to assist you, but only if they have the necessary experience. About the Author:
