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Nail Salon Business Plan
Want to start a profitable business venture?
So, if you’re the kind of person whose nails are always on point and possess the right blend of creativity to make others look and feel fabulous, it’s time to enter the world of grace and glamor.
The beauty industry is the most thriving place for innovative minds. In 2022, the global nail salon market was valued at $11.00 billion and is anticipated to grow at a CAGR of 8.0% from 2023 to 2030.
That’s a lot of money being spent on nail care. From French manicures and perfect pedicures to striking gel nails, people are going gaga over this beauty & fashion trend.
So, starting a nail salon business might be a money-making move for you. But before that, you have to make a solid business plan for a nail salon.
Surprisingly, our nail salon business plan will help you create your own business plan that leaves a mark on potential investors or partners.
Let’s dive in and uncover the secrets to turn your passion for nails into a successful business!
Key Takeaways
- Highlight your nail salon business, its ambiance, services, mission statement, and business goals in your business plan.
- Draft an effective executive summary section that overviews your nail salon business plan and attracts angel investors or partners.
- Conduct detailed market research to understand beauty industry trends, consumer preferences, and target customers.
- Research and analyze your direct and indirect competitors to determine where your business stands against other salons.
- Outline your operational plan and provide details about staffing needs, inventory control, and customer satisfaction.
- Prepare a realistic and strategic financial plan to assess startup costs and secure funding resources for a nail salon business.
- Effectively promote your brand by developing a comprehensive sales and marketing plan.
Why Write a Nail Salon Business Plan?
In reality, every established or upcoming business requires a well-crafted business plan. It is not just a document; it’s a dynamic tool that offers a roadmap for financial projections and business decisions.
Like any other business, a nail salon business greatly benefits from having a well-thought-out business plan.
Whether you’re seeking to secure a loan or attract new investors, a detailed business plan is a must. It presents your salon’s expenses & revenue potential and outlines the profitability for potential investors.
An actionable business plan lays the foundation for a nail salon, outlining business strategies, goals, marketing plans, service offerings, funding needs, and steps to enhance your credibility.
Not only that, for sustained growth, it serves as a reference point for effectively tracking progress, reassessing business goals, and adapting to changing market demands.
If you’re running your own nail salon or handling one, you need to write a compelling nail salon business plan that aligns with your salon’s vision and guides you cohesively toward it.
Now, let’s move forward to create a successful business plan without any further ado:
8 Key Elements of an Effective Nail Salon Business Plan
- Executive Summary
- Company Overview
- Market and Competitor Analysis
- Salon Product and Services
- Salon Marketing Strategy
- Nail Salon Management Team
- Operational Plan
- Financial Plan and Forecasts
1. Executive Summary
An executive summary is the initial section of your business plan where you’ll make your first impression. So, provide a quick overview of your entire nail salon business plan.
Your executive summary should be clear, concise, and engaging as it attracts investors or readers to delve further into your plan.
Try to sum up your business idea in a complete and precise manner. Outline a few important topics, from objectives and core values to a coherent vision for your brand.
Clearly state your nail salon’s concept, success factors, unique selling point(USP), market opportunity, and team expertise, which will be explored in greater detail within the plan.
Don’t forget to highlight your salon products & services offered and financial strategy in this section. Lately, complete this section with a compelling call to action for inviting potential investors or readers.
Drafting an executive summary is often easiest when done last once you have simply gone through and penned all the key sections of your business plan.
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2. Company Overview
Now, it’s time to emphasize the key aspects of your nail salon business that help you turn your idea into something real and concrete.
Provide all the basic information about your salon, including
- Name & concept of your business
- Business structure & legal entity (sole proprietorship, Limited Liability Company (LLC), partnership firm, or some other)
- Prime location & reason for choosing the place
Clearly illustrate your salon owners’ or partners’ names with the ownership shares. And accentuate your passion for personal care salons and commitment to quality services with the mission statement.
Discuss a little bit more about the business history and how your salon operates. Here, don’t forget to answer questions like:
- When did you start your nail salon business?
- What is the purpose and long-term business objective?
- What milestones have you accomplished? It could be the number of customers served, positive reviews, new nail salon openings, etc.
Refer to the below business history for an example:
Also, represent any health and safety regulations or details on licensing requirements for your nail technicians that affect your business.
3. Market and Competitor Analysis
After the business description, let’s move to the market research and competitor analysis section. It is a crucial aspect of your nail salon business plan.
Take some time to go further and conduct a thorough market analysis, as it unveils necessary information about your target audience and the local market.
It helps you understand your position in the market and allows you to anticipate market shifts. Identify emerging nail care industry trends and stay updated on recent practices, styles, and products.
Illustrate your target market demographics, including age, gender, income level, and preferences. Want help creating a buyer persona for your nail salon business?
Utilize Upmetrics AI writing assistant now and write your business plan sections. Follow the given prompt or revise it to make a bunch of buyer persona profiles for your target customers:
Not just that, you can tailor your services and marketing tactics effectively according to target market needs.
Explore the current landscape and understand your competitors better. You can identify direct and indirect competitors of your nail establishment.
Most likely, the other nail salons located near your area will be your direct competitors. Indirect competitors are other supermarkets or retailers from where customers can buy products (nail polish, nail files, etc.).
Collect details about competitors, such as their target market demographics, offered services and products, pricing strategies, strengths, and weaknesses.
If you know other salons’ target customers and marketing plans, it is easier for you to stay ahead in the competitive landscape and establish an exceptional position in the local nail salon industry.
4. Salon Products and Services
After understanding the market trends, provide details about what salon services you’d like to offer. This section encloses a range of nail care services and products your salon will offer, highlighting below:
- Artificial Nails
- Acrylic Overlay
- Nail Gel (with or without UV curing)
Sketch out a comprehensive menu that clearly showcases your expertise, ensuring customers understand the full range of available pampering options. Also, define your pricing plans for nail services.
Ensure that you research local market rates and align your pricing strategy with industry standards. Try to offer tiered packages to cater to various client preferences and budgets.
Not only that, highlight the quality of products to convey a commitment to excellence. Mention the exclusive use of premium, non-toxic, and long-lasting nail care products, from nail polishes to lotions.
Specify any partnerships with eminent brands that resonate with customers seeking an elevated experience. Explain how your services satisfy market needs and stand out from the other nail salons.
Take a reference from the below example drafted using Upmetrics AI, describing products and services for a nail salon business:
Below are Finger Art’s initial service offerings and in-store products sold.
Nail Technicians will be asked to perform the following services:
- Acrylic Nails
- Hand & Foot Massages
Finger Art will feature premium nail products in-store from these well-established brands. It will continue to update its offering in order to provide the newest nail products to its customers.
Some of its featured brands will include:
Furthermore, the waiting area will have television screens and popular publications to make the wait for service more pleasurable. Toys and board games will also be on hand for children, as well as at-request refreshments which we will provide for free during the waiting period.
If applicable, detail any specialty or additional salon services you provide, such as waxing and false eyelash application.
Here, remember that as you expand your salon services, your technicians may need to be specifically certified to serve these new services.
5. Salon Marketing Strategy
Developing a successful marketing strategy is an essential aspect of your nail salon business plan. Define the unique facets of your salon that build a distinct brand identity.
In a nail salon business, it is of utmost importance to have a strong marketing plan and a modern digital approach, using a mix of online and traditional offline channels.
While writing the nail salon marketing plan, keep in mind to outline the below strategies to attract new clients and retain existing ones:
Social Media Platforms
Use social media platforms to present your salon’s essence. Regularly post exquisite snapshots or videos of your nail art designs, salon ambiance, and behind-the-scenes moments.
User-Friendly Website
Assure that your salon has a user-friendly website that provides basic information about your services, pricing, and contact details. Share informative content including blog posts, infographics, or videos.
Collaborations
Collaborate with local businesses or influencers to expand your reach and draw their existing customers. This might do wonders for your business and enhance your salon’s image.
Offline Advertising
Effectively reach your target audience using offline advertising methods like brochures, newspapers, social gatherings, or events. Also, get in touch with the local community through marketing initiatives.
Loyalty Programs & Promotions
Facilitate client retention through loyalty programs that offer rewards for frequent patrons. Create promotions(special discounts or festive packages) to attract new clients and retain existing ones.
6. Nail Salon Management Team
Allowing your readers or investors to know more about your management team will help them have a clear picture of who is running your salon.
So, shed light on your management team structure. Highlight each individual’s specific roles & responsibilities. Also, jot down all the skills, qualifications, and prior experience.
This section is especially important for nail salons as it includes everything about your salon owners and employees. And having skilled nail technicians is integral to the success of your business.
Here is an illustration of a nail salon management team using the #1 business planning software —Upmetrics:
Next, describe the compensation plan or salary structure in this section. This can help key stakeholders to ascertain how much percentage of the revenues is allocated to salaries.
Not only that, you can also define an advisory board by including 2 -3 individuals who act like mentors to your business. They would direct you with strategic guidance and add credibility to your business idea.
7. Operational Plan
Now, it’s time to provide precise information on day-to-day operations, as it is the choreography that ensures every day unfolds smoothly and your clients leave with perfectly polished nails and smiles.
Consider including below essential components in your operational plan:
Staffing requirements
Set the number of nail technicians needed as per your expected client traffic and detail their skills & experience. Mention support staff, such as receptionists or cleaning personnel for a seamless operation.
Briefly outline their responsibilities and discuss ongoing training programs for your staff to keep them updated on the latest nail care methods, trends, and customer services.
Facility management
Highlight the ambiance you want in your salon and clearly state cleaning protocols for maintaining hygiene maintenance practices. Also, describe supplies and inventory management for good stock control.
Apart from that, you can also provide a nail salon layout, showing workstations, waiting areas, and other facilities.
Equipment/Technology
Detail the equipment or technology you plan to implement in your parlor, including executive tools, reception furniture, salon station equipment, nail drying lamps, nail polish racks, online booking systems, or CRM.
Quality measures
Clarify the service standards you wish from your staff for customer interactions, punctuality, and the overall client experience. Also, gather feedback from clients to enhance your nail services.
8. Financial Plan and Forecasts
Currently, you are in the business planning stage, but spending some time putting together the most realistic financial projections is also crucial.
This section will be immensely significant when you start seeking out funding from investors. A well-structured and in-depth nail salon financial plan reveals the tentative spending as well as the projected growth for your nail salon.
So, highlight all the vital information investors require for informed, strategic decision-making. They can also help you comprehend how your business can satisfy its financial obligations while keeping a positive cash flow.
To avoid such a situation for your salon, clearly outline projected sales, operating budgets, revenue forecasts, profit margins, and startup costs to buy nail salon equipment & cosmetology establishment license.
Besides these statements, here’s what you should consider while forecasting a nail salon financial plan:
Income statement
An income statement is commonly known as a profit and loss statement, or P&L, showing the ability of your business to generate profits by increasing revenue and reducing costs.
This financial statement summarizes your business’s revenues, costs, and expenses over a specific period. Here is an example of a projected income statement for a nail salon using Upmetrics:
Cash flow statement
Right cash flow planning helps you notice how much money you need to start a nail salon or grow an existing business and ensure that you never run out of money.
Don’t forget to maintain a cash flow statement even for certain months before earning profits.
Balance sheet
The balance sheet shows the financial future of your business. It classifies all your financial data into three parts: assets, liabilities, and equity.
Typically, a balance sheet is prepared once a year. Create a prospective balance sheet at the end of your first year using your profit and loss spreadsheet and cash flow statement.
You can also include a break-even analysis that indicates the exact point at which your salon will be able to cover all of its expenses and start earning profits.
However, calculating all the financial statements from scratch can be challenging, but it’s easier than ever with Upmetrics’ robust financial forecasting tool .
All you need to do is provide the information you have, and let the tool evaluate financial projections, and create visual reports for you. No manual data entry, recalling Excel formulas, or preparing graphs—nothing.
Well, having a practical financial plan in your hand not only helps you present your business’s fiscal health but also accentuates its long-term viability.
Key Considerations for Creating a Nail Salon Business Plan
Creating an effective nail salon business plan requires a thorough understanding of the target customer’s needs.
To ensure your business plan lays the foundation for a nail salon rather than just a mere checklist, ask yourself whether you’re incorporating the following key considerations for business development:
Service offerings
Understand diverse target customer preferences and include a wide range of nail services. Try to offer unique or specialized services that set you apart from other nail salons.
Pricing strategy
Conduct a proper market analysis to determine the average cost of nail services in your area. Set a competitive pricing strategy that covers your expenses, and assures profitability.
Training and Expertise
In the nail care industry, recognize the importance of quality services and invest in ongoing staff training. Make sure that your team is aware of new trends, techniques, and exceptional customer service skills.
Digital Presence
Implement a strong online presence to satisfy the expectations of digitally savvy customers. Enhance your salon’s visibility by developing a professional website, effective search engine optimization (SEO), and active social media.
Salon ambiance
Prioritize the salon atmosphere, considering factors like décor, cleanliness, and stellar customer service. Develop an inviting and comforting environment that helps you attract and retain customers.
Health and Safety Measures
Ensure you comply with health and safety protocols to meet industry standards and regulations. Give paramount importance to cleanliness and client well-being.
Download Your Free Nail Salon Business Plan PDF
Are you ready to start writing a nail salon’s business plan? And want to get help with your business plan? Well, here you go; download our free nail salon business plan pdf now.
This expertly crafted template has been designed with nail salon businesses in mind. With a step-by-step guide and example, this template assists you in developing your own plan.
Import data into your editor and start business plan writing.
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Finally! With the help of our free sample business plan template, you know how to write a nail salon business plan. So, you are one step closer to starting or expanding your business confidently- pretty thrilling, right?
But you know what else is exciting? Your business planning process can be even smoother than this. Yes, you heard it right; it’s possible with the help of Upmetrics AI-powered assistant .
So, take a sigh of relief as we will take care of your business plan, and focus only on your business operations!
Check out our other beauty salon & fitness business plan templates .
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Frequently Asked Questions
How often should i update my nail salon business plan.
Regular updates to your business plan are necessary to reflect transitions in the market and industry trends. Consider reviewing and revising your plan annually or more often if there are significant changes in your business structure, services, or market conditions.
What are some resources for nail salon business owners?
Here are some of our resources that help nail salon owners on their business journey:
- Investor pitch template
- Online business calculators
- Free marketing plan template
What are the legal considerations to include in a nail salon business plan?
There are several legal requirements that you need to include in your nail salon business plan:
- Business license and permits
- Health and Safety Compliance
- Employment Laws
- Insurance coverage
- The legal structure of your business
Are there any examples of nail salon business plans I can reference?
You can find templates and guidelines online to craft your nail salon business plan effectively. Consider reputable sources like Upmetrics, which offers sample business plan templates to help you create a comprehensive and professional business plan tailored to your salon.
About the Author
Vinay Kevadiya
Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more
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Nail Salon Business Plan Template & Guide
Written by Dave Lavinsky
Nail Salon Business Plan
If you want to start a new nail salon or expand your current nail salon business, you need a business plan.
Over the past 20+ years, we have helped over 5,000 entrepreneurs and salon owners create business plans to start and grow their nail salon businesses.
Download our Ultimate Nail Salon Business Plan Template here >
What Is a Nail Salon Business Plan?
A business plan provides a snapshot of your nail salon as it stands today, and lays out your growth plan for the next five years. It explains your business’ goals and your strategy for reaching them. It also includes nail salon market research to support your plans.
Why Do You Need a Business Plan for a Nail Salon?
If you’re looking to start a nail salon or grow your existing nail salon you need a solid business plan. A detailed business plan will help you raise funding, if needed, and plan out the growth of your nail salon in order to improve your chances of success. Your nail salon business plan is a living document that should be updated annually as your company grows and changes.
What Are the Sources of Funding for a Nail Salon?
With regards to funding, the main sources of funding for nail salons are bank loans and angel investors. With regards to bank loans, banks will want to review your nail salon’s business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a nail salon business.
The second most common form of funding for nail salons is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.
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If you’d like to quickly and easily complete your business plan, download Growthink’s Ultimate Nail Salon Business Plan Template and complete your plan and financial model in hours.
How to Write a Business Plan for a Nail Salon
Your business plan should include 10 key sections as follows:
Executive Summary
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of nail salon you are operating and the status; for example, are you a startup, do you have a nail salon with existing customers and revenues that you would like to grow, or are you operating a chain of nail salons.
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the nail salon industry. Discuss the type of nail salon you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your nail salon’s marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
Company Analysis
In your company analysis, you will detail the type of nail salon you are operating.
For example, you might operate one of the following types:
- Nail salon focusing strictly on nails
- Nail salon offering other salon services (hair, skin)
- Nail salon offering products
- Combination of the above types
In addition to explaining the type of nail salon you operate, the Company Analysis section of your business plan needs to provide background on your business. Include answers to questions including:
- When and why did you start your nail salon business?
- What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
Industry Analysis
In your industry analysis, you need to provide an overview of the nail salon business.
While this may seem unnecessary, it serves multiple purposes.
First, researching the nail salon industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards a new type of hair or nail service, it would be helpful to ensure your plan included offering such services.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the nail salon industry research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your nail salon business plan:
- How big is the nail salon business (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your nail salon. You can extrapolate such as figure by assessing the size of the market in the entire country and then applying that figure to your local population.
Customer Analysis
The customer analysis section of your nail salon plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of nail salon you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing promotions than teens.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most nail salons primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
Competitive Analysis
Your competitive analysis should identify your indirect and direct competitors and then focus on the latter.
Direct competitors are other nail salons.
Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes products (nail polish, nail files, etc.) they can purchase from supermarkets and other retailers both offline and online. You need to mention such competition to show you understand that not everyone in your target market frequents a nail salon on a regular basis or at all.
With regards to direct competition, you want to detail the other nail salons with which you compete. Most likely, your direct competitors will be nail salons located close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What services do they offer?
- What products do they offer?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide superior nail salon services?
- Will you provide superior nail salon products?
- Will you provide nail salon services that your competitors don’t offer?
- Will you make it easier or faster for customers to acquire your products?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Marketing Plan
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a nail salon business plan, your marketing plan should include the following:
Product: in the product section you should reiterate the type of nail salon that you documented in your Company Analysis. Then, detail the specific services you will be offering.
Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the menu items you offer and their prices.
Place: Place refers to the location of your nail salon. Document your location and mention how the location will impact your success. For example, is your nail salon located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of customers.
Promotions: the final part of your nail salon marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Making your nail salon’s front store extra appealing to attract passing customers
- Developing and marketing your website
- Social media marketing (advertising and organic posts)
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Partnerships with local organizations
- Local radio advertising
- Banner ads at local venues
Also think about your nail salon’s Unique Selling Proposition (USP), which should answer why customers should choose you over other nail salons. Make sure your USP is reflected in your marketing.
Operations Plan
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your nail salon such as serving customers, procuring supplies, keeping the nail salon clean, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.
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Management Team
To demonstrate your nail salon’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in the nail salon business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in nail salons and/or successfully running retail and small businesses.
Financial Plan
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement: an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per day or 50? Will your average price point be $50 or $100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets: While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your nail salon, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement: Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 nail salon contract to provide nail salon services to their employees. Let’s assume the contract would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180-day period, you could run out of money.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a nail salon:
- Location build-out including design fees, construction, etc.
- Cost of equipment like chairs, washing equipment, etc.
- Payroll or salaries paid to staff
- Business insurance
- Licenses and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your nail salon’s design blueprint or location lease. Putting together a business plan for your nail salon business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the nail salon business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful nail salon business.
How Do I Download a Free Nail Salon Business Plan PDF?
You can download our nail salon business plan PDF template and use our sample nail salon business plan to help you write your own business plan.
If you are looking for the quickest and easiest way to complete your business plan, Growthink’s Ultimate Nail Salon Business Plan Template has numerous features not available in the free template including its financial projections template which automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements.
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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.
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