Do you ever feel like you are running the show without a master plan? It can be a challenge to juggle all aspects of your business, from your craft to marketing to finances, accounting, sales and more. As with any company, the best first step is to create a killer business plan. A business plan is like a blueprint for the success of your business. It states the goals and operations of your business, tallies the financial inputs and outputs, and outlines what steps you’ll take to turn services into revenue into profits. While it takes a bit of forethought and work upfront, a good business plan will save you time, effort and stress moving forward while boosting your productivity through improved oversight and direction. All business plans are different, but for a solid comprehensive business plan, we will outline the following sections: Table of Contents Executive Summary Business Introduction Services/Product Overview Organizational Overview Market Overview Marketing Plan Sales/Financials Operations Plan Financial Planning 1. Table of Contents This section is to be completed last. Generate a corresponding Table of Contents after your document is finished, for easy navigation through your business plan. 2. Executive Summary This section is to be completed once you’ve finished all other sections, as it is a simple snapshot overview of your business pulled from more in-depth sections. What is your business? What do you do? What do you offer? Objective: What problem do you solve for your customers? Mission statement Vision Statement Who is your target customer? Try and get specific - Age? Demographic? Style? Income? Goals: What are your main long-term goals? What are your main short-term goals? 3. Business Introduction This section is an in-depth introduction to your business. Include the following: Inspiration: What inspired you to begin your craft? Your business? Mission Statement: What do you do now? This can be as simple as: “make my clients feel beautiful,” or “provide a comfortable environment for transformation.” Make a statement about what you offer, potentially including why you offer it. Keep it short, simple and attainable. You should be working in alignment with this mission every day. Vision Statement: What do you want to accomplish with your business in the future? For yourself? For your clients? For the community What do you want the business to look like 1-3 years from now? 10 years from now? Services and Product Offerings: List your services List your product offerings The problem your salon solves: What problem do you solve for your clients? What gap do you fill? Target Customers/Clients: Who is your target customer? What services do they get? How often do they come into your salon? What is their income level? Where do they spend their time? What social media sites are they on? Competitive Advantage: What are you offering that clients cannot get elsewhere? Get creative - maybe you are the only place in the neighborhood where a client can get both a haircut and a killer cocktail, or perhaps your nail art is the best in the business. Every successful salon owner has their own reason that their salon shines, a niche they fill that nobody else can for their clients. Highlight your niche here! Click here to read more about building a niche salon. 4. Services/Product Overview In this section, provide a detailed description of all products and services, and include: The name of each service, product, package and/or offerings A description of each service/product/package in detail A list of costs per service A chart of product pricing Service package pricing (if applicable) Ps...Have you heard the buzz? We recently partnered with BeautyHive to create a more efficient online shopping experience that will keep your backbar and shelves fully stocked, with perks that make the #SolaBoss life even sweeter. Join BeautyHive today to receive a Sola-exclusive welcome offer! 5. Organizational Overview In this section, detail any human resources necessary in running your salon. This may include any business partners, personal assistants, styling assistants, apprenticeships, etc. This may also include any work that is outsourced, such as booking, filing, advising, accounting, legal and more. Who is involved in your salon other than you? Is there anybody that is getting paid for their time? Outline the following: List staff members, their roles, responsibilities, rates, credentials and level of authority. Outsourcing: Who is responsible for overseeing outsourced duties, tasks and suppliers? List outsourced tasks, responsibilities and rates. Advising/consulting: Who are your advisors? Consultants? Legal counsel? Accountant? List those key members that advise your business and their rates, to accommodate them into your budgeting. 6. Target Audien