How to write a business plan?
Even those owners who have been in business for several years, who have read dozens of thematic books and completed more than one business training course, feel anxiety when they need to draw up a business plan. It’s not because they don’t understand how to do it, but because the task seems to be so large-scale and fundamental that it’s not always clear where a person should start.
A business plan is a detailed description of an investment project. It contains information about the company, goods (services), forecasts and risks, marketing moves, sales market and efficiency.
How to write a business plan? There are several options:
- Buy a franchise with a ready-made beauty salon business plan.
- Develop business plan yourself: download an example on the Internet and adjust it to fit your parameters.
- Hire a specialist. The cost of preparing a business plan varies depending on the region and on the set of requirements.
Experienced entrepreneurs argue that a business plan must be drawn up at the stage of idea generation. Another opinion is that the document is not necessary at all, because life is unpredictable and things tend to go not how we expect them.
It’s up to you to decide, but a competent approach and planning is the key to increasing the profitability of the beauty salon.
A business plan helps to:
- Structure goals, objectives, ideas
- Define stages, their duration, highlight milestones
- Research the market and competitors
- Examine the risks, consider methods for their elimination/reduction
- Set project targets
Stages of a business plan
A business plan can be divided into 6 main steps:
- Market and target audience analysis
- Location and premise selection
- Repair, design, purchase of equipment and furniture
- Business registration
- Carrying out an advertising campaign