Business plan

[Miss_janie]

Hi guys!

I'm trying to write up a business plan in a hope to get a loan to open my own salon/shop.

I'm just struggling with set up costs.

I have an idea about council tax, rent, and the rest of the ground costs.

But set up costs with regards to products is confusing me.

Does anyone have any advice with any of this?

It's confusing me lots!

Thanks in advance!

 

[BannerPenguin]

Remember commercial property doesn't have council tax. It's business rates. Make sure you know the difference and that you call it that in your business plan as otherwise the bank etc will presume you don't know what your talking about which I'm sure you do

 

[Miss_janie]

haha, oh now I feel silly! I just keep getting so confused!

 

[LBR]

Your set up costs are basically everything you'll need to start up in business providing all the treatments you choose. This will include furniture to products and decorations.

ie if you want to provide a skincare range, then find out from the company you wish to use, what their start up package is.

HTH

 

[Nicolahayley]

Agreed your business plan must consist of how much you need to borrow, why and where the money will be going. You will then need to determine how much money you need to make each month to cover your bills, stock and other things.
You need to include what your aims and goals are for the future whilst in business. Are you hoping to better yourself by going on additional courses? If so will you need money for this too?
Remember all the little things like new uniform, shoes etc.
I worked all my stuff out by doing a list of each treatment I would provide. Then underneath I would write out what I needed to carry out my treatments. Then I did a salon essentials section with bed roll, towels, tissues, cotton wool etc.
I think it's easier if you break it down like that


Nicola! Xxx

 

[Miss_janie]

Agreed your business plan must consist of how much you need to borrow, why and where the money will be going. You will then need to determine how much money you need to make each month to cover your bills, stock and other things.
You need to include what your aims and goals are for the future whilst in business. Are you hoping to better yourself by going on additional courses? If so will you need money for this too?
Remember all the little things like new uniform, shoes etc.
I worked all my stuff out by doing a list of each treatment I would provide. Then underneath I would write out what I needed to carry out my treatments. Then I did a salon essentials section with bed roll, towels, tissues, cotton wool etc.
I think it's easier if you break it down like that


Nicola! Xxx

That is such an awesome idea! I never thought of doing it like that.

 

[Nicolahayley]

That is such an awesome idea! I never thought of doing it like that.

Aww your welcome my lovely


Nicola! Xxx

 

[Miss_janie]

It's just difficult knowing where to start. But I'm sure I'll figure it all out.

 

[surf girl]

When I did my plan I broke each service down and calculated the cost for every bit of product, it's much easier in the long run if you can say this service costs me x amount, so for example (for hairdressing) 1 tub of bleach can do 10 full head foils (example) then (cost of tub devided by 10 = x amount) then add on peroxide, shampoo etc, in the same way, u do have to guess a bit coz it's hard to know exactly how many full heads you'd really get from each bottle or tub, but if u know your trade you'll have a rough idea anyway, your biz plan is a working document which follows you after start up so you'll always be adjusting things, but guess as near as you can for now by braking everything down hope this helps, & good luck!! X

 

[TheSprayTanner]

You will also need to remember to include cost of things like special treatments license and newspaper advert if required (to advertise license application) insurance and pat testing.
Good luck x


Hayley

 

[Elaine143a]

You will also need to remember to include cost of things like special treatments license and newspaper advert if required (to advertise license application) insurance and pat testing.
Good luck x


Hayley

And telephone costs, broadband, till/computer, credit card machine rental, bank charges, commission on card payments, accountancy costs, advertising, regular printing costs, yellow pages, vat if applicable, licenses, waste disposal, music licences, treatment licences, treatment insurance, premises insurance, contents insurance, training costs, safety equipment and testing (ie fire extinguishers), signage, security (ie alarm system/shutters/grille), professional subscriptions, cleaning products, refreshments, ......... and the list goes on!

Whatever you budget for, double it and add some - you may then get the true costs of opening and running a salon!

This is not a negative post, just realistic!

Good luck, I really hope you achieve your dreams xxx

If you want any advice, just pm me xxx

 

[mobile-hands]

Marking for future reading

 

[Debbsxo]

Miss_Janie - if you want yo pm me I'll send you my excel sheet. Am in the middle of putting mine together at the mo. It might help you with a starting point x