Beauty Salon Business Plan

Business Plan

I am a fully qualified Beauty Therapist and intend to open my own salon at home – 3 Mona Street, Peel, Isle of Man.

The room I will be using was once a Chiropodist’s surgery.

There are already two other beauty salons in Peel which are always busy and one of the therapists is cutting her hours down due to family commitments.

Compared to Ramsey which has six salons with several therapists working in some of them and a population of approximately twice that of Peel I feel that there is a definite market for another in Peel. The population figures are based on the 2001 census, as the figures for the recent one have not yet been disclosed. Peel has grown rapidly over the last few years due new building developments, which are ongoing.

I intend to specialise in holistic therapies and offer services that the other salons in Peel don’t. I already have qualifications in holistic treatments that are not offered in Peel and intend to continue expanding my knowledge and attend further courses.

As I will be working on my own there will only be one client present at one time. During working hours there is normally parking spaces outside my house and in the evenings when the street is busier there are two car parks within 2 minutes walking distance.

I am hoping to take part in the Department of Trade and Industry’s Small Business Scheme where they train and advise you in all aspects of running a small business and help you prepare a business plan. They also offer financial assistance.

I already have some equipment and some capital to invest in the business.

I have gathered data from several salons around the Island and worked out averages of prices for various treatments and could earn an average of £35 per hour. Supposing I work 35 hours per week for 47 weeks of the year, that would give me a gross annual income of £57,575 plus retail sales. Of course it will take some time to build up a good client base.