sample of barber shop business plan

3+ SAMPLE Barber Shop Business Plan in PDF

Barber shop business plan, 3+ sample barber shop business plan, what is a barber shop business plan, why choose a barber shop for a business, making that successful barber shop business plan, what are some of the services that are typically offered in a barber shop, what are some of the common men’s haircuts offered in a barber shop, what are some of the tools and equipment usually found in a barber shop.

Cutting Wave Barber Shop Business Plan

Basic Barber Shop Business Plan

Barber Shop Business Plan Recommendation Letter

Barber Shop and Hairdressing Business Plan

Step 1: executive summary, step 2: market analysis, step 3: marketing plan, step 4: financial plan, share this post on your network, you may also like these articles, 27+ sample individual learning plan in pdf | ms word | google docs | apple pages.

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Barber Shop Business Plan Template

Business Plan Outline

• Barber Shop Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Barber Shop Plan Here

Marketing Plan

Brand & value proposition.

Regal Men Barber Shop will offer the unique value proposition to its clientele:

• Highly trained staff of experts whose main focus is the best customer service experience possible.
• Comprehensive menu of services for a polished and regal look.
• Trained barbers that are up-do-date with the trendiest cuts and services.
• Pricing that can undercut the competition without sacrificing quality luxury service.

Promotions Strategy

The promotions strategy for Regal Men Barber Shop is as follows:

Social Media

Regal Men Barber Shop will have Instagram and Facebook business profiles where Maxwell will post pictures of his clients after they receive one of his signature cuts or shave. He’ll feature pictures of the designs he can do on clients as well.

Website & SEO Marketing

Maxwell will hire his nephew who is a graphic designer to design and manage a very comprehensive and attractive website for Regal Men Barber Shop. The website will be easy to navigate and include the menu of services, pricing, contact information, and location. The SEO will be managed to ensure that anyone searching “barber shop near me” or “barber shop Minneapolis”, will see Regal Men Barber Shop listed at the top of the Bing or Google search engine.

Referrals/Word of Mouth

Maxwell has a long list of loyal clients who will continue to stay with him as he transitions to owner of his barber shop. Those clients will help spread the word of Regal Men Barber Shop for anyone looking for a new place to get a nice, fresh haircut.

The pricing of Regal Men Barber Shop will be moderate and on par with competitors so customers feel they receive value when utilizing its barber shop services.

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Barber Shop Business Plans Samples For Students

2 samples of this type

While studying in college, you will inevitably have to craft a lot of Business Plans on Barber Shop. Lucky you if linking words together and transforming them into meaningful text comes easy to you; if it's not the case, you can save the day by finding a previously written Barber Shop Business Plan example and using it as a model to follow.

This is when you will certainly find WowEssays' free samples collection extremely helpful as it includes numerous expertly written works on most various Barber Shop Business Plans topics. Ideally, you should be able to find a piece that meets your criteria and use it as a template to develop your own Business Plan. Alternatively, our skilled essay writers can deliver you a unique Barber Shop Business Plan model written from scratch according to your custom instructions.

Example Of Michael Porters Competitive Forces Business Plan

Business plan.

Part 1: Business idea My business idea is a starting barbershop. The name of this barbershop will be JD Barbershop. It will be serving males across all ages. It will be open from 1000hrs to 2100hrs on weekdays and 0800hrs to 2000hrs on weekends.

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Barber Shop Business Plan Template

Barber shop 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 barber shop business you are operating and the status; for example, are you a startup, do you have a barber shop that you would like to grow, or are you operating a chain of barber shops.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the barber shop industry. Discuss the type of barber shop you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

BARBER SHOP BUSINESS PLAN OUTLINE

• Barber Shop Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Barber Shop Business Plan Summary

Other Helpful Business Plan Articles & Templates

Startupback

Sample Barber Shop Business Plan Template

Barbershop business plan sample.

Starting a barbing shop is a way to make money anywhere there is a decent male population. Because you see a lot of these barbing shops around does not mean everyone is making money from it.

Apart from the need for expertise, you need some other factors to give reasons to people why they should prefer your shop to others.

For instance, in many big cities; many youths set up barbing saloon businesses to create wealth through self-employment.

Location is one major key you must get right if you want to make money from this lucrative investment.

Areas like densely populated streets, busy road junctions, inside male halls of residences in higher institutions, around campuses, etc are hot cakes when it comes to selecting a location for your barbing salon shop.

SEE: Beard Oil Production Business Plan

The planning phase of any business venture is the most crucial. This is so because the success of such a business depends on how well the plan is made and implemented.

Due to this fact, we will focus on a barbershop business plan. This is a small business idea that has seen increased interest among entrepreneurs.

As a result, our sample targets those wishing to start their barbershops. If you are one, you’ll find this sample very useful.

We have covered the most essential sections a good plan should have. Hence by using this as a template, you can put together a solid and implementable plan.

* Executive Summary

Exquisite Touch is a barbershop located in Oklahoma City, Ok. We will be providing a variety of hair care services. In addition to this, we will also be selling a wide range of hair care products.

Our target market is broad. This includes both genders as well as people from all age brackets. We are driven by professionalism with the main focus of taking care of our client’s hair grooming needs.

Our workforce has been carefully chosen to drive our vision. This vision seeks to position us among the top barbershop businesses in Oklahoma.

Our Services

Our barbershop offers world-class services to all categories of clients. These services include; haircutting, dressing, dyeing, and grooming hair treatment services.

We also have a hair transplant section as well as hair styling and shaving among others. We’ll cater to all types of hair grooming needs. Our professional hair barbing services aren’t restricted to our location alone.

We also provide home services for our clients.

Similarly, we sell quality hair barbing and treatment products. We have paid great attention to quality and seek to make that our tradition. To achieve this, we have partnered with the best hair product dealers. As partners, we are focused more on distribution.

Hence, such hair products like clippers, hair oils, lotions dyes will be sold on a wholesale and retail basis. These products are recommended for all our clients.

Our Mission

Our mission at Exquisite Touch is to establish a world-class barbershop. This will be a place where customer service and satisfaction is given the highest priority.

For this to be possible, the quality of our workforce is vital. Hence we have committed time, effort, and resources to ensure we get the very best. These are people with significant experience in the field.

Our vision is to become a major player in the barbershop business in Oklahoma. We have set a target for ourselves. Within the period of half a decade, we should be able to achieve our goals.

This is the lifeline of our barbershop business. We have worked out ways through which our business will be funded. Thus, we will be raising the required funding from savings which has been set aside for this purpose.

The needed funding requirement is $150,000.00. This sum covers rent fees, equipment as well as running costs.

SWOT Analysis

This is a critical assessment of our capacity to achieve our vision and goals.

Thus, we have hired the services of competent professionals to enable us to measure the following vital areas; a test of strength, weakness, opportunities, and threats.

Let’s consider each briefly;

This aspect of our analysis has turned out positive. The reason for our strong showing in this area is due to our location and quality of the workforce.

Our barbershop is located in a dense neighborhood. This is largely made up of young people. This segment of the market loves to look trendy.

This, we have positioned our business to meet and even exceed the expectations of such clients. We have done a lot of work with our workforce as well. These have been carefully chosen to fit into our vision of providing superior hair barbing and care services.

2. Weakness

Identifying our area of weakness has enabled us to reassess our position. By so doing, we’ve been able to redouble our efforts towards overcoming such difficulties. Our major weakness is our present inability to get a fair share of the market.

Although this is the case, it is only a temporary setback. We plan on eventually overcoming such weakness through rigorous and effective marketing campaigns.

3. Opportunities

At Exquisite Touch, we are excited by the opportunities available for the taking. Although there is so much potential, a lot of work needs to be done.

Hence, we are well-positioned to take advantage of such opportunities. For instance, such opportunities are in the form of growth and the size of the market.

To sum up this area of our discussion, it’s important to know that threats are ever-present. However, such threats come in different forms.

Therefore for us, our threats are in the form of stiff competition. This will not be good for business, especially at our current capacity. Although such is the case, we are positive that we will eventually overcome it.

Competitive Advantage

We have invested time, resources and manpower towards ensuring that we stay competitive.

Hence, there has been significant investment in equipment and customer service. These two areas coupled with our business model place us among the top providers of superior barbershop services.

We have also focused on the motivation of our workforce. This is necessary because they are the face of the company. Hence a well-motivated workforce will impact positively on our clients.

• Sales Projection

Through the provision of superior hair grooming services, we are positive that our set targets will be met. A projection of sales over three years was done to enable us to measure our progress.

This was set using current industry trends and the findings are summarized as follows;

• First Fiscal Year.      $80,000.00
• Second Fiscal Year.  $160,000.00
• Third Fiscal Year.     $300,000.00
• Marketing and Sales Strategy

This is an important part of our business upon which our success is hinged. Therefore we have adopted multiple strategies of advertising our barbershop business. These include the use of tools such as banners and handbills, word of mouth as well as on online platforms.

There you have it! This barbershop business plan has been simplified to ensure easy understanding and implementation of its contents. As such, we are confident that you will gain a lot of insight using this as a guide.

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Barber Shop Business Plan

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Resources On Barber Shop

• Financial Model
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Description

Executive Summary

Products & services, market analysis, marketing plan.

• Management Plan
• Financial Plan

The Gents Barber Shop is addressing the problem of limited choices for men and boys in the surrounding neighborhood when it comes to high-quality, affordable grooming services. Our barber shop provides a traditional experience that caters to the needs of our male clientele by offering personalized attention and building strong relationships with our local customers. We recognize the identifiable need in the market for a walk-in, cash-based, neighborhood barber shop that provides a convenient and affordable option for haircuts and grooming services. Our goal is to fill this gap and become the go-to destination for men and boys in our community.

Men and boys in the surrounding neighborhood have long been in need of a traditional barber shop that offers quality haircuts and grooming services at affordable prices. The Gents Barber Shop provides the solution to this problem by offering a walk-in, cash-based system that guarantees customers timely access to professional barbers who prioritize their needs. Our services include haircuts, beard trims, hot towel shaves and other grooming services that cater to the needs of our male clientele. We aim to provide personalized attention and build strong relationships with our local customers to ensure that our services exceed their expectations and solve their grooming needs.

Target Market

The Gents Barber Shop targets men and boys within the surrounding neighborhood who are looking for traditional haircuts and grooming services. Our primary customer base includes customers who prefer a personalized attention and relationship-building experience, and those seeking affordable haircuts. We aim to serve customers who appreciate the expertise and skills of trained barbers and are willing to pay for quality services that build trust and loyalty. Our walk-in, cash-based model is ideal for customers who seek convenience and value for their money. We aim to establish a strong reputation for excellent service and personalized attention that keeps our customers coming back.

Competition

The Gents Barber Shop will be operating in a market with a number of existing alternatives and substitutes. These include chain salons, unisex hair salons, and other independent barber shops in the local area. While these businesses may offer similar services, The Gents Barber Shop will differentiate itself by catering specifically to the needs of men and boys, providing traditional barber shop experiences, and offering a personalized touch to build strong relationships with its customers.

The Gents Barber Shop will aim to stand out from the competition through its high-quality, affordable services, its expertly trained barbers, and its convenient walk-in, cash-based model. Through strong partnerships with local business associations and community organizations, as well as targeted marketing and outreach efforts, The Gents Barber Shop will aim to become the preferred destination for men and boys seeking traditional barber shop experiences in the surrounding neighborhood.

Financial Summary

Our financial plan is designed to ensure profitability while offering affordable services to our clientele. Here are the key highlights:

• We are targeting a monthly revenue of $10,000 in our first year of operation.
• Growth projections of up to 20% are expected in following years.
• Our cost structure consists of rent and utilities for the barber shop location, labor costs for barbers and other staff, and equipment and supplies for haircuts and grooming services.
• We are seeking a startup loan of $100,000 to cover initial startup expenses for the first six months of operation.
• We plan to establish long-term relationships with suppliers of equipment and materials for haircuts and grooming services to reduce costs.
• Our cash-based system for payment will ensure steady revenue and reduce administrative costs.
• We aim to build strong relationships with our local customers through personalized attention and quality services, which will increase customer loyalty and profitability in the long run.

Funding Requirements

For the successful launch and operation of The Gents Barber Shop, we require the following funding:

• A startup loan of $100,000 for initial startup expenses such as rent, utilities, equipment, and staffing costs for the first six months of operation.

Our projected monthly revenue of $10,000 within the first year of operation will ensure the timely repayment of the loan. We also plan to establish long-term relationships with suppliers of equipment and materials for haircuts and grooming services, as well as with local business associations and community organizations for marketing and outreach, to ensure sustainable growth and profitability.

Milestones and Traction

At The Gents Barber Shop, we have a clear roadmap for achieving our business goals. We are currently in the process of securing funding for our startup costs and finalizing our location in Chicago, Illinois. Our specific milestones include:

By hitting these specific milestones, we are confident that we can establish The Gents Barber Shop as a trusted and popular destination for men and boys in the surrounding neighborhood. We will continue to track our progress against these milestones and adjust our plans as needed to ensure the success of our business.

Problem Worth Solving

Many men and boys in the surrounding neighborhood are in need of affordable, high-quality grooming services that cater to their specific needs. However, there are limited options for traditional barber shop experiences that offer personalized attention and relationship-building with local customers. This creates a pain point for customers who are looking for reliable and skilled barbers who can provide haircuts and grooming services in a convenient and affordable manner. The Gents Barber Shop aims to solve this problem by providing a walk-in, cash-based model that caters to the needs of men and boys in the community. By offering traditional haircuts and grooming services, we aim to establish a strong reputation for quality and personalized attention that keeps our customers coming back.

Our Solution

Validation of problem and solution.

According to a survey conducted by Statista, the number of men visiting hair salons decreased by 10% from 2012 to 2018, while the number of men patronizing traditional barber shops increased by 4%. This shows that men still prefer the traditional barber shop experience over modern salons. Furthermore, a study commissioned by Salon Today found that over 70% of men prefer to pay for grooming services in cash. This validates our solution of offering traditional haircuts and grooming services for men and boys on a walk-in, cash-based model.

During our soft launch, we offered discounted haircuts and grooming services to the local community. We received positive feedback on the quality of our services and an overwhelming number of customers expressed satisfaction with the convenience of our walk-in service and cash payment system. These results further validate our solution of offering personalized attention and building strong relationships with our local customers.

Product Overview

The Gents Barber Shop offers traditional haircuts and grooming services for men and boys in the surrounding neighborhood. Our skilled barbers provide personalized attention and high-quality services that cater to the needs of our male clientele. We offer a variety of services, including haircuts, beard trims, hot towel shaves, and other grooming services that help our customers look and feel their best.

Our services are for men and boys who prefer a traditional barber shop experience that caters specifically to their grooming needs. We provide affordable services that are convenient and accessible through our walk-in and cash-based payment model. Our services benefit our customers by helping them look their best and feel confident in their appearance. We provide a welcoming and comfortable environment where our customers can relax and enjoy the traditional barber shop experience.

The Gents Barber Shop faces competition from other barber shops in the surrounding area. However, we differentiate ourselves by offering traditional haircuts and grooming services for men and boys at an affordable price point. Our walk-in, cash-based model provides convenience for our customers, and our skilled barbers offer personalized attention to build strong relationships with the local community. Unlike other salons that may have a more upscale or trendy atmosphere, we pride ourselves on creating a traditional barber shop experience that caters to the needs of our male clientele. We believe that our emphasis on quality services and customer loyalty will set us apart from other local competitors.

Products & Services Roadmap

As a traditional barber shop for men and boys, The Gents Barber Shop aims to establish a strong reputation for excellent service and personalized attention within our local community. Here is a detailed roadmap of the steps taken so far and our plans for establishing and growing our business:

Overall, The Gents Barber Shop aims to establish a strong presence in our local community through high-quality grooming services and personalized attention to our customers. We plan to continue growing our business by expanding our services and building on our relationships with the local community and business partners.

Market Segmentation

The potential groups of customers for our traditional barber shop can be segmented based on the following characteristics:

By targeting these specific segments, we can effectively reach a broad range of potential customers and build a loyal customer base for our barber shop business.

Target Market Segment Strategy

Our ideal customer is the local man or boy who values traditional barber shop experiences, convenience, and affordability. We aim to provide quality haircuts and grooming services to the surrounding neighborhood, including those who may not have access to expensive salons or prefer a more personalized experience.

We also plan to target customers through local advertising and social media marketing, with a focus on building relationships with the community and creating a loyal customer base.

Key Customers

Our ideal customer archetype is a man or boy living within a 5-mile radius of our barber shop who prioritizes high-quality haircuts and grooming services at an affordable price. They appreciate the traditional barber shop experience and value personalized attention from skilled barbers. This customer will not only become a loyal regular, but will also be the main advocate for our business, spreading positive word-of-mouth within the local community.

Future Markets

The potential market for the traditional Barber Shop business is expected to remain steady in the coming years. The business strategy of offering affordable haircuts and grooming services to men and boys, as well as building strong relationships with the local community, aligns well with the needs and preferences of the target customers. There may be opportunities to expand the business into adjacent neighborhoods or offer additional services, such as beard trimming or shaves, to attract new customers. Extending the hours of operation or offering online booking may also provide avenues for growth. The barber shop can continue to meet the needs of the existing customer base while exploring these possibilities for future expansion.

Here's a list of potential competitors in the neighborhood:

Marketing and Sales Plan

Our marketing strategy will focus on building strong relationships with the local community and providing quality services for men and boys. Our advertising channels will include local newspaper ads, flyers, and social media marketing on Facebook and Instagram. Our goal is to attract new customers while retaining our loyal client base.

Location and Facilities

The Gents Barber Shop will be located in the heart of Chicago, Illinois. We have secured a prime location in a busy shopping district, which sees a high volume of pedestrian traffic. The cost of rent and utilities for the location is within our budget and we have ensured that the facilities and equipment are of the highest quality and meet all necessary health and safety standards.

Our barber shop is designed to provide a comfortable and welcoming environment for our customers. We have comfortable seating, a waiting area with magazines, and a friendly and professional staff to greet customers upon arrival. Our facilities also include state-of-the-art equipment for haircuts and grooming services, as well as a fully stocked inventory of high-quality grooming products for purchase.

We have also invested in creating a strong brand presence through our marketing and advertising efforts. We have designed our website and social media accounts to reflect the traditional and welcoming atmosphere of our barber shop. We will be conducting local advertising campaigns through flyers, posters, and local publications, as well as leveraging social media to reach a wider audience in the local area.

Overall, our physical location and facilities are a key aspect of our marketing and sales plan. By providing a high-quality and welcoming environment for our customers, we aim to build strong relationships with our local community and become the go-to destination for all their grooming needs.

The Gents Barber Shop prides itself on offering traditional haircuts and grooming services, which do not require the implementation of new or advanced technology. However, we do recognize the importance of using technology to enhance our marketing and sales efforts.

We plan to develop a user-friendly website that showcases our services and allows customers to easily book appointments online. This will help us to increase our visibility online and attract new customers who prefer to make appointments digitally. Additionally, we will utilize social media platforms such as Facebook and Instagram to promote our services and engage with our customers.

We understand that technology is constantly evolving, and we will continue to evaluate new tools and software that can improve our operations or enhance the customer experience. However, we remain committed to providing traditional barber shop experiences that prioritize personalized attention and quality services over technology.

Equipment and Tools

For our barber shop to provide quality haircuts and grooming services, we require the following equipment and tools:

Our initial investment in equipment and tools will be $10,415. We will purchase new, high-quality equipment to ensure the comfort and safety of our customers and staff. Monthly costs for sanitation and disinfectant supplies will be accounted for in our ongoing expenses.

Management and Organization

Organizational structure.

Our barber shop will have a simple organizational structure to ensure efficient operations and top-notch customer service. The table below provides an overview of our business structure, along with the roles and responsibilities of specific employees:

We will have an open communication policy between all levels of the organization to ensure everyone is informed and working towards the same goals. The flow of information will primarily be through weekly team meetings and daily check-ins between the owner/manager and employees.

Management Team

As the owner of the barber shop, I plan on taking on the role of managing the day-to-day operations of the business. However, I anticipate needing to bring in additional talent to take on high-level management roles as the business grows. I have compiled a table of potential candidates with the necessary skills and experience to help manage the business. The candidates I am considering all have a deep understanding of the industry, as well as experience managing teams and running successful businesses. I am confident that with their support, we can continue to build a successful and thriving traditional barber shop for men and boys in our local community.

Management Team Gaps

At this time, the management team of the barber shop does not have any significant gaps or areas of expertise that require immediate attention. However, as the business grows and expands, it may become necessary to hire additional personnel with specific skillsets, such as marketing and advertising expertise or administrative support. In such cases, the management team will seek out qualified candidates to fill those roles in order to continue providing high-quality services to customers and maintain a successful business operation.

Personnel Plan

In order to run the Barber Shop effectively, we anticipate the need for the following positions:

We plan to hire experienced and skilled barbers who possess the expertise to deliver quality haircuts and grooming services. Our receptionist will have great customer service skills and will be able to manage the cash-based payment system efficiently. Finally, our cleaner will take pride in maintaining a clean and hygienic environment for our customers.

Management and Organization: Company history and ownership

The Gents Barber Shop is a family-owned business that was established in 1985 by Joseph Johnson, who had a passion for traditional barbering and providing quality grooming services to men and boys. Joseph's grandfather was also a barber, and he passed his love for the trade down to Joseph, who used it as the foundation of his business.

Over the past 35 years, The Gents Barber Shop has become a fixture in the surrounding community, providing personalized attention and quality services to generations of men and boys. The shop has adapted to changing trends in the industry, but has always remained true to its core values of traditional barbering, affordable prices, and excellent customer service.

The shop is currently owned and operated by Joseph's son, Michael Johnson, who grew up in the business and learned the trade from his father. Michael has worked as a barber at The Gents Barber Shop for over 20 years, and he is committed to continuing his family's legacy by providing high-quality grooming services to the local community.

As part of our management and organization plan, we have created a detailed roadmap of specific goals and objectives that we plan to achieve in order to effectively manage and steer our business. These milestones include:

Key Metrics - Management and Organization

As with any business, it's important to track key performance indicators (KPIs) that help you gauge the overall performance and health of your barber shop. Some important KPIs to consider include:

• Total revenue generated by haircuts and grooming services
• Number of repeat customers versus new customers
• Customer satisfaction rates and feedback
• Employee productivity and retention rates
• Marketing metrics, such as social media engagement and website traffic

By regularly monitoring these KPIs and making necessary adjustments to your business strategy, you can ensure that your barber shop is successful and thriving for years to come.

Financial Plan and Metrics

Sales forecast.

Here is a projected sales forecast for The Gents Barber Shop for the next three years:

Our projected sales for the next three years indicate steady growth and a strong demand for our traditional barber shop services. We aim to leverage our personalized attention and affordable pricing to attract and retain a loyal customer base within the surrounding neighborhood.

Starting a traditional barber shop business requires both initial startup costs as well as ongoing expenses to operate. Here are the expected or incurred costs necessary:

Startup Costs

Operational expenses.

It is important to carefully consider all costs associated with starting and running a traditional barber shop business. Accurately estimating your expenses can help you create a realistic financial plan and budget accordingly.

Projected Profit and Loss

Our revenue stream will come from cash payments for haircuts and grooming services. Based on our business goals, we aim to achieve a monthly revenue of $10,000 within the first year of operation, with growth projections of up to 20% in the following years.

Here is a three-year profit and loss statement for The Gents Barber Shop:

As shown in the profit and loss statement, we project to break even within the first year and achieve a profitable venture in the second and third years of operation.

Projected Cash Flow

Below is a table outlining the projected cash flow statement for The Gents Barber Shop for the years 2023, 2024, and 2025:

The projected cash flow statement shows the expected cash inflow, outflow, and net cash flow for each year. Based on our financial projections, we expect the business to generate a cumulative net cash flow of $139,800 by the end of 2025, which will help the business grow and expand in the future. We will regularly review our financial statements to ensure that we are meeting our financial goals and making adjustments as necessary.

Projected Balance Sheet

Below is a three-year balance sheet statement for the hypothetical Barber Shop business, showing the Assets, Liabilities, and Equity:

By projecting our balance sheet for the next three years, we can plan for our financial future and make important decisions based on our predicted profitability. Our balance sheet highlights the growth of our asset base and equity, which will help sustain and expand our business in the long-term.

For our barber shop business, we plan to hire experienced and skilled barbers who specialize in traditional haircuts for men and boys. We aim to create a team of friendly professionals who are passionate about their work and can build strong relationships with our customers. We will ensure that we offer fair compensation packages to attract and retain talented employees, including competitive hourly rates, paid time off, and opportunities for growth and advancement within the company.

Our barbers will be an integral part of our business operations and will work closely with our team to provide exceptional service to our customers. We will offer ongoing training and support to ensure that our employees are up-to-date on the latest trends and techniques in men's grooming. Our goal is to create a positive work environment where our employees feel valued, respected, and motivated to deliver the best possible results.

Use of Funds

Below is a breakdown of how the startup loan of $100,000 will be used:

The remaining amount will be used for marketing and advertising costs, as well as contingency funds for unexpected expenses.

Exit Strategy

As the owner of the traditional barber shop, I plan to eventually exit the business by passing it along to a family member or a trusted employee who has demonstrated the necessary skills and commitment to continue the legacy of the barber shop. Alternatively, I may consider selling the business to an interested buyer or seeking an acquisition by a larger barber shop franchise. Regardless of the exit strategy, my goal is to ensure the long-term sustainability of the business and its continued success in serving the local community.

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Men's Salon Business Plan

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Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Jonpaul’s is a full-service gentleman’s barber shop dedicated to consistently providing world class men’s grooming services to our clients, high quality products while furnishing an enjoyable relaxing atmosphere at an acceptable price/value relationship.

Our Motto: “World Class Service Begins Here”

The timing is right for this venture. Patiently searching for the last few years for a similar highly recognized existing business in a prime location, was unsuccessful. We therefore decided to build one from the ground up.

2.1 Start-up Summary

After spending several months searching for a high-end exclusive gentleman’s barber shop to purchase, the owners decided to start an exclusive barber shop – men’s grooming services from the ground up. The start-up capital will be used for the design, leasehold improvements, and equipment for the shop. The start-up cash has been marked for the estimated amount needed to cover operational expenses for the first two months.

2.2 Company Locations and Facilities

Jonpaul’s is located in The Mall, a 160,000 foot shopping and entertainment center in Gigaburb. The suite is 1,950 sq. ft at $24.50/sq. ft. with a 3-year lease. This site is a very high profile area with easy access and ample parking.

The Mall is anchored by Regal Cinema, the largest theater chain in the Gigaburb market with a 16-screen, state of the art complex. In addition to specialty retail and service shops within the center, there is a food pavilion anchored by Starbucks, Macaroni Grill, Garrison’s, and Rio Bravo. Other tenants include Ben & Jerry’s, Las Vegas Golf, specialty furniture, boutiques, antiques, and specialty children shops.

The Mall is located on the corner of a highly traveled State Highway and a Metro Road in the high growth, affluent area of Gigaburb. The Mall’s primary trade area will serve the burgeoning country club communities and exclusive neighborhoods located within a fifteen-minute drive from the site. According to Equifax National Decision Systems, the primary trade area in 2000 had a population of 317,931 that is projected to reach 358,716 by 2005.

2.3 Company Ownership

Jonpaul’s is a privately held S corporation co-owned by Cathy Leskie and her husband Dr. Jonpaul Leskie. Cathy Leskie has 10 years experience in the hair and spa industry. She studied in the U.S. and Europe and continues to stay on top of the latest styles, trends and products. Cathy has worked as a stylist, then as a manager – managing 16 stylist in a prestigious upscale salon.

Dr. Jonpaul Leskie – is President/CEO of  Jp Leskie & Associates, a Technology Consulting Firm. Dr. Leskie is a pioneer and innovator with over 30 years experience in the computer, e-business and telecommunications industry. Dr. Leskie has a proven track record of success in launching new business and directing operations for Fortune 500 companies worldwide.

To achieve our objectives, Jonpaul’s is seeking loan financing. This loan will be paid from the cash flow from the business, and will be secured by the assets of the company, and backed by the character, experience and personal guarantees of the owners.

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How to Write a Business Plan for Barbershop

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• Business Planning & Strategy
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• How to Start a Business Selling a Food Item
• How to Write Your Business Proposal

Many, if not most, of the steps for writing a business plan for a barbershop are the same as for any other small business you might launch. In fact, you’ll be able to find many generic templates you can use to start and guide you as you create your launch strategy.

You’ll follow the Four Ps of Product, Price, Place and Promotion as you write your business plan for a barber shop. These important aspects of creating a business are known as the Marketing Mix, explains MindTools . You’ll then use the typical sections of any business plan to make your document specific to your idea.

Create an Outline

Every good book, high school term paper, master’s thesis, business plan or other long document starts with an outline. A business plan should contain several standard sections, suggests SmartyCents . These include basic information such as a cover page and table of contents as well as detailed elements such as a market description, your marketing strategy, the financial information for the venture, and both a summary and appendix.

Chicken or Egg?

You can start planning your business by deciding what type of barbershop you want to operate, and then choose your target customers who will want your services. If you know the exact area where you want to launch and the specific customer base you’re going to have in that area, you can do the reverse – create your barbershop to cater to a specific customer demographic.

Either way, you’ll come up with a target audience and develop the specific services they want. Will you be targeting men and boys looking for a quick, bargain haircut, or offer more upscale hair styling, beard trimming, eyebrow shaping and full-service shaves for affluent males?

Once you answer those two questions, look at the competition you’ll have. You might want to do this first so you can create the type of barbershop that has little competition.

Look at the Business Side

You’ll need to look into the practical considerations of running any type of business. This can include opening a bank account, incorporating, buying liability insurance, renting or leasing your space, buying furniture and equipment, getting a business license or licenses (depending on your city and state) hiring staff, creating a website and managing or hiring someone to do your advertising, social media and public relations.

This will help you create a pre-launch startup budget, as well as a first-year operating budget. Your financial section will be an important part of your business plan if you want to attract a partner or investor, or get a bank or credit union business loan or line of credit.

Create Your Document

Start with a cover page that includes a title, your name, the month and year, and your contact information. Create a contents page that lists your different sections. Your executive summary will be a short (half-page) overview of your business idea without any support – you’ll provide your details and numbers in subsequent sections.

Write each section with as much objectivity as possible, adding any research, data, industry statistics and other numbers you can find. You want to avoid a business plan that simply tries to sell people (or yourself) on the fact that you’ve got a great idea.

Your barbershop business description should be detailed enough that someone who has no interest in running a barbershop should still be able to launch one if they follow your step-by-step plan. Include the order in which you’ll complete your different tasks, including specific dates (this can light a fire under you and keep you on track to meet your goals).

After you’ve completed each of your sections, recap your general pitch with a summary. Follow this with an appendix that includes any support documents, such as your budget document, staff bios, logo concept and other items.

Contact your local SCORE office to get a free review of your business plan from a retired executive who will act as your mentor. SCORE is a nonprofit organization that partners with the U.S. Small Business Administration. This can help you spot questions you haven’t answered, or give you ideas for more research you can conduct to reduce the chance that you’ll run into any surprises.

• MindTools: The Marketing Mix and the 4Ps of Marketing
• SmartyCents: How to Write a Business Plan the Right Way
• SCORE: Find Your Business Mentor

Steve Milano is a journalist and business executive/consultant. He has helped dozens of for-profit companies and nonprofits with their marketing and operations. Steve has written more than 8,000 articles during his career, focusing on small business, careers, personal finance and health and fitness. Steve also turned his tennis hobby into a career, coaching, writing, running nonprofits and conducting workshops around the globe.

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NASA effort to bring home asteroid rocks will end this weekend in triumph or a crash

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This mosaic composed of images of the asteroid Bennu taken by the OSIRIS-REx spacecraft shows its surprisingly rubble-strewn surface. NASA/Goddard/University of Arizona hide caption

This mosaic composed of images of the asteroid Bennu taken by the OSIRIS-REx spacecraft shows its surprisingly rubble-strewn surface.

If all goes as planned, on Sunday morning a bell-shaped space capsule the size of a mini-fridge will come screaming down through the atmosphere toward a Utah desert.

Inside will be some precious cargo: about a cup's worth of rock and dust that a NASA spacecraft collected from an asteroid called Bennu that was, at the time, more than 200 million miles away.

This will be the biggest amount of extraterrestrial material to be brought back to Earth by any nation since the Apollo astronauts hauled home moon rocks, and it's the culmination of NASA's first mission to bring home samples of an asteroid.

Last month team members practiced retrieving the sample return capsule, using a replica, at the Department of Defense's Utah Test and Training Range. NASA/Keegan Barber hide caption

Last month team members practiced retrieving the sample return capsule, using a replica, at the Department of Defense's Utah Test and Training Range.

The 4.5-billion-year-old pebbles inside the return capsule are thought to be pristine leftovers from the early days of the solar system, when the planets were first forming.

Scientists want to study these rocks to learn more about the chemistry that ultimately led to the emergence of life on Earth — assuming the capsule parachutes down unscathed and its contents don't get destroyed in a crash landing.

"That would be just heartbreaking, right?" says Dante Lauretta of the University of Arizona, the principal investigator for NASA's OSIRIS-REx mission, who compared that scenario to fumbling a football in the end zone while trying to make what would be a winning touchdown in the final seconds of a game.

Lauretta, who has devoted about two decades of his life to this asteroid-sampling effort, says that he and his colleagues have already endured a number of heart-pounding, nail-biting episodes along the way. Now, they await the final one.

"To me, the moment the parachute opens, I'll know we've made it. We're home," says Lauretta.

The anxiety of the mission's critical moments often gives him strange, vivid dreams. In one dream, for example, he found himself in a gift shop on the rocky asteroid.

"I was like, 'How did I get this job? I'm not supposed to be selling Bennu memorabilia,'" Lauretta recalls, saying that his dream-self then thought, "If we can build a gift shop, why am I stressing so much about getting all this sample? I could just pick some up right now."

In a more recent dream, with the day of the sample's return drawing ever closer, his dream-self opened up the capsule and saw, sitting on top of the black asteroid dirt, a shining green gem. "And I grabbed it and popped it in my mouth," he says, laughing.

In real life, no one will be tasting the asteroid rocks, although Lauretta says they might get a whiff at some point. He expects a smell like rotten eggs or ammonia.

"I would never want to touch it or eat it," says Lauretta, "because we worked so hard to get it."

Meeting the "troublemaker"

The van-sized OSIRIS-REx spacecraft launched in 2016, and it took about two years to reach Bennu, which is about as big as the Empire State Building.

Researchers consider Bennu to be a potentially dangerous asteroid, as it appears to have about a 1 in 1,750 chance of impacting the Earth between now and the year 2300.

When the probe arrived at Bennu in 2018, researchers were surprised that instead of the smooth surface that they'd expected, the asteroid was studded with huge boulders.

The team had to figure out how to maneuver the spacecraft around obstacles with nicknames such as "Mount Doom" so that it could reach a spot the size of a few parking spaces.

In October of 2020, the spacecraft briefly touched down , contacting the surface with an arm equipped with a special collection device at the end.

A NASA Spacecraft Successfully Touched Down On A Rocky Asteroid

Shockingly, the arm basically plunged in, as the asteroid behaved more like a liquid than a solid, suggesting it's composed of rocky bits just barely held together by gravity.

At first the researchers were ecstatic, as they managed to recover far more asteroid stuff than their original goal of about two ounces, or 60 grams.

Once the spacecraft had backed away from the asteroid and they stopped to assess their treasure, however, their elation turned to alarm .

They'd grabbed so much that a Mylar flap that was supposed to seal up the collection device had gotten jammed open by a rock that appeared to be about an inch across. This created a gap that allowed pebbles and dust to escape. Images from an on-board camera showed them floating away.

That moment "was gut-wrenching," says Jason Dworkin of NASA's Goddard Space Flight Center, a project scientist for the mission. "Seeing those particles drifting away....every particle is a discovery not made. It was difficult."

Mission managers scrambled to get this collection device into its return canister so that the canister could be closed up, trapping everything inside.

"We had planned to have a very leisurely operation to stow it," says Dworkin. "That was out the window. We had to move quickly."

In the end, they estimate that they managed to safeguard about 8 ounces of asteroid rock, but they won't know for sure until they open the canister up.

Once they do, they expect to see everything from dust to pebbles to larger rocks like the one that Lauretta calls "the troublemaker" — the one that kept their collection device from sealing up.

"We're really excited to see it," says Lauretta. "What is it? It must have been hard and different than probably the bulk of the asteroid."

Heading home

Early Sunday morning, mission operators will tell the OSIRIS-REx spacecraft to jettison the sample return capsule, sending it on a collision course with Earth.

This will occur when the spacecraft is about 67,000 miles away, and the capsule will be aimed at a target zone in the desert that's about 250 square miles.

"It's the equivalent of throwing a dart across the length of a basketball court and hitting the bullseye," says Rich Burns , the project manager based at NASA's Goddard Space Flight Center.

NASA says the capsule will enter the atmosphere at about 36 times the speed of sound, encountering temperatures "twice as hot as lava." As it falls towards the high mountain desert of the Utah Test and Training Range, it will deploy parachutes to slow itself down.

At least, that's the plan.

In 2004, a parachute failure doomed a NASA mission called Genesis that was returning with samples of solar wind particles. Lauretta says his team has watched video of that mishap "way too many times."

No matter what happens on Sunday, a recovery crew will be waiting to swoop in once the OSIRIS-REx capsule reaches the ground.

Some researchers will take samples of soil and other materials from the landing site — just in case some kind of contamination occurs, despite their best efforts, and they later have to figure out what came from the asteroid and what was a terrestrial interloper.

No one expects any kind of alien life, says Lauretta. Bennu has been pummeled with radiation for eons, making it highly inhospitable. His team worked with NASA's planetary protection office, which found that returning bits of this asteroid to Earth required no special precautions.

"We're more worried about Earth organisms contaminating the sample than we are the sample doing something to the biosphere," he says.

If the capsule's homecoming proceeds without a hitch, the asteroid sample will remain utterly untainted — making it different from space rocks that regularly fall to Earth and get collected as meteorites.

The capsule will be whisked away to a nearby clean room, where its heat shield will be removed to expose the sample-containing canister.

The biggest reveal

The next day, on Monday, workers plan to fly this canister to NASA's Johnson Space Center in Houston, Texas, which houses the repository for outer space samples like moon rocks.

Lauretta says that on Tuesday morning, if all goes according to the schedule, they'll open the canister inside a special lab.

NASA's Johnson Space Center has built a new facility to house the asteroid rocks, and workers there have practiced opening the sample container in a setup that will keep the material uncontaminated. James Blair - NASA - JSC hide caption

NASA's Johnson Space Center has built a new facility to house the asteroid rocks, and workers there have practiced opening the sample container in a setup that will keep the material uncontaminated.

"I expect we're going to see dust adhering to the surfaces as soon as we open the canister," he says, adding that this asteroid dust will immediately get put into microscopes and other instruments.

Over the following days, workers will detach the collection device, which was locked into its protective canister.

"It'll be a slow process, very deliberate," says Dworkin. "There are lots of fasteners that need to be removed. Every screw head could have Bennu material inside of it that we have to pluck out to preserve."

The biggest reveal should come on October 5 or 6, when they open the collecting device itself.

Researchers expect to hold a press conference on October 11 to go over everything that got collected and their initial findings. About a quarter of the asteroid sample will immediately get farmed out to researchers, who have set up their labs to analyze it.

Some of it will get saved for the future, so that researchers can study it with technology that hasn't even been invented yet — just like some Apollo moon rocks got left in sealed containers for about half-a-century before being opened up and studied.

The asteroid sample's arrival is the first event in what NASA officials are calling their "asteroid autumn."

In early October, the space agency will launch the Psyche mission to a metal-rich asteroid, a nickel-iron one that looks like the building block of planetary cores.

And, in November, NASA's Lucy mission will fly by an asteroid called Dinkinesh , its first asteroid rendezvous in a planned 12-year tour that will take it to multiple space rocks that orbit the Sun at the distance of Jupiter. These asteroids are thought to be remnants from the formation of the outer planets.

OSIRIS-REx has more asteroid adventures ahead of it as well. After delivering its cargo, the spacecraft will speed past Earth and keep going. Its next stop is a near-Earth asteroid called Apophis, which it will reach in 2029.

• planetary science
• Solar System