Calling all salon owners........

[sophiahoney]

Hi To you all,
Im total newbie on here but i have loads of questions for anyone who has the time to answer.
So im taking the plunge and ive approached my bank manager for a business start up loan to open my own salon. Im going through all the expected emotions of excitment,panic,happy,worry etc etc but im totally sure im ready and its what i want to take on. I have some great ideas and plans to ensure we build a nice regular clientele aswell as having considered all the needs and costs of a salon. Which brings me to the part where i hope you can help.

Mr Bank man has asked for a few more details in my business plan. It seems you have to do things a little backwards, by that i mean, he wants plumbing/electicians quotes now before ive actually got the premises and he wants to know i have staff in place before i even know if ive got the business going. Some of these things are a little tricky to do before the business is up and running, however i can see why he needs these figures now.So, what i need from you guys is this.

Monthly utility/costs for a salon with 3 dress outs, nail bar and tanning booth for spray tans and a staff room.(or anything of a similar size)
Electric bills
phone line/bills
water bills
alarm system maintenence
special waste disposal if needed
accountant
insurance
anything else you can think of

Id be so gratefull of some figures as i need to include these in my plan.

Thanks so so much for your time.
Sophia X

 

[chicchick]

Hi Sophia,

Exciting times! basically it's a good idea if you can back up any and every statement in your business plan with evidence. So the more you can identify your target market(s), your pricing structure, your staffing costs, etc the better.
There is plenty of helpful info on the Hairdressers Journal website, and also Sean Hanna has produced some fantastic software to use for business planning which doubles up as great software when you are up and running. RAGE is the planning software, TES is the staffing costs software etc and STOCKIT deals with profit margins etc with your stock. It really is a fantastic tool to invest in and will impress your bank manager no end. You can also put in different scenarios to see what impact that makes on your costs and your profits.
For business planning purposes Sean Hanna's costings are a pretty good guide, but it is worth making approaches to potential trades people for quotes on what works might cost. If you are going to use professional fitters they also will be able to give you quotes for your basic requirements depending on what the size of your premises is likely to be and what will need to go in to it.
The best way to go forward with your dream is to research plan research plan, and that in itself can takes months and months. It is worth it though, as time spent planning means you are more likely to make the right decisions about premises, pricing, marketing etc and ultimately provide you with a successful growing business.
It is worth remembering though that many things you need to consider for running a business are not specific to hairdressing and I would get all the help and input you can from your local Business Link that run free sessions on doing your planning thoroughly, so try them for a bit of extra help too.
The very best of luck, chicchick