BUSINESS PLAN SAVON’S BARBERSHOP Benjamin Johnson 4 - 18 - 02 MISSION STATEMENT – Savon’s Barbershop is going to be one of the best unisex salons in the Essex county area. Savon’s Barbershop will give the people the best quality hairstyle for a moderate price. Savon’s Barbershop will be known as a quality shop, with quality employees, quality services and quality prices. KEYS TO SUCCESS • Location: providing an easily accessible location for customers. • Environment: providing an environment conducive to giving relaxing and professional service. • Convenience: offering clients a wide range of services in one setting, and extended business hours. • Reputation: reputation of the owner and other "barbers" as providing superior personal service. AGENDA • My agenda is to start off slow. Make a little profit and start to begin to expand my business across NJ. I will start slow and wait for my first barbershop to gain a lot of success and recognition and popularity. Then I will begin to expand my business all across New Jersey. COMPANY INTRODUCTION AND BACKGROUND • Savon’s barbershop goal would be to make money • To expand its business across the United States. • To be know as a top quality barbershop. • To be known as the #1 barbershop in America. COMPANY INTRODUCTION AND BACKGROUND • Business Manger: Benjamin Johnson • Manger and owner of Savon’s Barbershop. Handles all of the financial aspects of the job. • Manger Benjamin Johnson has worked in a prestigious, upscale barbershop in Newark, New Jersey for the past four years. Benjamin has created a large client following through hard work and dedication. Benjamin, and is talented team of barbers, has what it takes to make this venture an extremely successful one. We expect our growing reputation to lead to new clients and barbers to support our anticipated growth. LOCATIONS AND FACILITIES • The salon will be located in a retail strip mall at 1910 Renshaw Ave East Orange, New Jersey. The salon will utilize 1,540 square feet. The location is strategically situated on one of the busiest streets in New Jersey. It is a high profile area, with easy access from all parts of town. MARKET CONDITIONS • There are a number of other barbershops like ours, but they are mainly in the very high income parts of Essex county and surrounding areas. We do not intend to compete with these so called "Day Spas." We wish to offer a middle ground for those clients who can't quite afford those high-end luxury barbershops. • Our business atmosphere will be a relaxing one where clients can kick back and be pampered. Soft drinks will be offered to clients as they enter for service. Televisions will be located in the waiting area. COMPANY DIFFERENTIATORS • Savon’s wants to set itself apart from other beauty salons that may offer only one or two types of services. Having come from such a barbershop, Benjamin has realized, from talking with his clients, that they desire all of the services that we are proposing, but they remain frustrated because they must get their hair done at one place and other beauty essentials from somewhere else. Although the focus of Savon’s is a hair services, we do wish to offer our clients the convenience of other services in one location. PRODUCT/SERVICES DETAIL • Savon’s is considered an upscale full-service barbershop. We will offer a wide range of services that include: Hair: cuts, shaves, reconstructing, and trims. Skin Care: European facials and massage. Hair products: Oils, powders, creams, shampoos and other hair products, FINANCIALS PROJECTIONS • Revenues will grow at an annual rate of 15%, increasing 20% in November and December due to a historical jump in revenues at this time of year. We anticipate this increase to stay steady throughout the following year to account for the normal flow of new clients coming into the barbershop. Estimates for sales revenue and growth are intentionally low, while anticipated expenses are exaggerated to the high side to illustrate a worst case scenario. VALUATION ANALYSIS • Savon’s is a full-service barbershop dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price/value relationship. We will also maintain a friendly, fair, and creative work environment, which respects diversity, ideas, and hard work.
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