Business Plan for a Barbershop
How to start a barbershop what do I need? How much does it cost to start a barbershop? Use a business plan for a barbershop template to launch a barbershop business easily
Overview
A business plan for a barbershop helps to calculate barbershop start-up expenses as well as yearly revenues and top expenses, development expenses. With the help of a barbershop business plan sample, you can evaluate needs for certain services, costs of salon jobs, salaries of employees, and so on.
Why do you need a financial model template for a barbershop?
- Business plans for a barbershop help to create and realize an effective development strategy.
- A barbershop financial plan is a helpful tool to easy managing of the business.
- A barbershop business plan allows forecasting margins, sales mix, revenues, expenses, salaries, and wages.
With the help of the barber shop financial plan, you’ll be ready to:
- Create a successful business plan for your barber shop on 5 years period.
- Be ready to track how much money your barbershop generates.
- Able clearly to demonstrate the main financial data on 5 years period for your investors.
Barber Shop Business Plan Highlights
Five-year business plan template to develop a barber shop business with help of monitoring profitability, planning yearly revenues, extra product revenue, forecasting multiple expenses, inventory, and investment. This model designed to be simple to forecast an up to the 60-month operating budget and cash flows with a simple set of assumptions around salon job sales and expenses. The simplicity of the business plans for a barber shop is confirmed by the use of tables, charts, reports, and financial summaries. Provides informative dashboard sheet. Equipped with detailed video instruction and helpful How to sections. Used by managers, directors, owners, founders, and investors. Available for editing and use in Excel or Google Sheets. Compatible with Mac and Windows.
“Finmodelslab team did a great job building a quite complex, but easy to use, SaaS Financial Model for one of our USA based SaaS companies. Generally speaking, I recommend Finmodelslab highly.”
– John Howell, Software and technology investor
100+ users
of this model type from 2017 to today.
97% of users
say Finmodelslab models will help them accomplish their goals.
2 hours or less
is how long it takes to build a complete model, on average.
Key features
- Designed for flexibility in barber shop planning.
- Easy manage of business and calculating main indicators.
- Revenues and variable expenses and all inputs, easily exposed to change.
- Developed informative reports of the barber shop income statement, core financials, and cash flow statement.
- Functional dashboard as well as built-in break-even, financial summary and barber shop business plan valuation reports.
- Switch output currency, margins and safety stock features with immediate operations results included.
- You can forecast and calculate a sales volume, create several business scenarios.
- This barber shop business plan allows you to demonstrate summaries, financial charts and key reports open for editing, saving in PDF, printing and use in presentations.
Barber Shop Financial Plan:
Features And Metrics
from the revenue model to financials
In particular, it focuses on such critically important aspects as the following:
Dashboard
Flexible dashboard with core assumptions of main financial metrics is a snapshot of a barber shop business plan viability.
Revenue model
A very detailed and flexible barber shop revenue calculation model.
Break-Even point
Break-even point — a point, where sales level with zero barber shop profitability.
Financial statements
Salon Financial Statements — Income Statement, Balance Sheet, and Cashflow for 5 years.
Salon jobs assumptions
You can enter the names of salon jobs, jobs per hour and the price per jobs each year.
Salon Assumptions
You can input some important data about the salon to correct build the revenue: month to plateau, a number of the station in the salon etc.
Sales Mix
You have to input the allocation of different jobs in the salon.
Valuation
Valuation of the Barbershop — DCF and Earning multiple methods.
Financing
Barber salon budget sample Debt Financing and repayment schedule + evaluate.
Summary
Barber Shop Business plan Summary & Cash Burn & Break-Even Reports
Barber Shop Financial Plan: Core Metrics
BARBER SHOP BUSINESS PLAN SAMPLE FINANCIAL & OPERATIONAL METRICS
These tabs help to focus on the main financial & operational metrics both in the long-term and short-term perspective. You can make correct business decisions in time and impact on them to enhance the productivity of a barber shop.
Productivity
Barber shop business productivity, which is revenue and operational expenses (OPEX) per working day.
Salon jobs revenue breakdown
This tab demonstrates you the names of salon jobs and overall revenue generated by each salon job for 24 month and 5 year period.
Worker Productivity
This tab demonstrates a level of revenue per worker to define an average revenue per employee.
Cash Balance
Cash balance signifies the amount of money your barber shop accumulated at the end of the period.
Operating Cash Flow
The cash inflow and outflow — how much money your salon receives and spend or cash generated from normal operations of a barber shop.
EBITDA
A barber shop’s profit, that includes all incomes and expenses before taxes, interests, and amortization.
Barber Shop Financial Plan Reports
Reports are designed to present information in the form of tables and charts of the business. Thus, the barber shop business plan shows more details about the financial state of your barber salon
BARBER SHOP FINANCIAL PLAN DASHBOARD WITH CORE FINANCIAL METRICS
BARBER SHOP BUSINESS PLAN DASHBOARD GRAPHS
An interactive dashboard demonstrates your core financials — revenue breakdown, cash flow data, profitability forecasts, and cumulative cash flow. The options of barber shop budget allow you to demonstrate data with flexible charts and to present the main information for investors, lenders, business partners.
BARBERSHOP FINANCIAL AND OPERATIONAL METRICS
BARBERSHOP FINANCIAL PLAN FINANCIAL METRICS
This metric demonstrates the overall barbershop financial performance. So, you’ll be informed about metrics like EBITDA, CASH BALANCE, BARBER JOBS, AND EXTRA PRODUCT REVENUE BREAKDOWN etc. for the first 24 months and the 5 years by month.
BARBER SHOP FINANCIAL PLAN OPERATIONAL METRICS
This metric demonstrates overall a barber shop employee productivity, time productivity and productivity per station. So, you’ll be informed about the dynamic of the main operational metrics for 12 months, 24 months or 5 years.
BARBER SHOP FINANCIAL SUMMARY: INCOME, CASH FLOW, AND BALANCE SHEET
FINANCIAL SUMMARY
The financial summary tab represents shows how a salon has used the funds. — the income statement with the year ending money, gross margin percentage, EBITDA, EBIT (the net expenses), net profit before and after tax.
BARBER SHOP TOP REVENUE AND TOP EXPENSES REPORTS
TOP REVENUE
Top Revenue Depth tab allows you to learn the information about a volume of salon jobs and extra products. barber shop business plan sample enables you to choose a period to look at, e.g. 2020–2024 and shows the exact revenue numbers for each category: salon jobs and extra product.
TOP EXPENSES
This tab of barber shop budget sample track your expenses during the 5-year period and divides into 4 groups: marketing expenses, placeholder 3, total salary and wages and tax expenses. Everything else can be found in Other section.
BARBER SHOP VALUATION AND BREAK EVEN LEVEL REPORT
BREAK-EVEN ANALYSIS
The break-even analysis helps to determine the level of sales volume, which the business makes neither a profit nor a loss — a point, where a new product or service will be profitable.
DCF VALUATION
This tab shows how to measure the business worth and helps to calculate the cost of your business.
Barber Shop Business Plan inputs and assumptions
To make a model alive you should use yellow cells to input assumptions.
BARBER SHOP BUSINESS PLAN SAMPLE REVENUE INPUTS
DASHBOARD INPUTS
This tab shows your business’ financial viability. Enter the main inputs and track the impact of changes on business. Core financials, cash flow data, revenue breakdown, profitability forecasts, a cumulative cash flow — all of that can be calculated on the Dashboard tab. Here you can build your own business scenarios. On this tab, you can visually track your key performance indicators on the charts.
REVENUE ASSUMPTIONS
At this tab, you may input the extra product assumptions, the names extra product, launch date, margin etc.
BARBERSHOP BUSINESS PLAN SAMPLE EXPENSES AND WAGES INPUTS
WAGES INPUTS
The wages tab allows to easily calculate salaries for staff categories.
FIXED EXPENSES INPUTS
These costs don’t vary depending on the number of customers, on services volume, sales — this sum to be charged periodically: every day / week / month / quarter / six months, etc.
VARIABLE EXPENSES INPUTS
This tab demonstrates your expenses, that depends on the clients’ number, use of products, extra products, barber jobs volume.
BARBER SHOP BUSINESS PLAN CAPEX INPUTS
CAPEX ASSUMPTIONS & ASSETS
Here you can input Capital Expenses for the salon, internal calculations of the assets depreciation and the assets closing book value.
BARBER SHOP BUSINESS PLAN DEBT AND CAPITAL INPUTS
DEBT & CAPITAL ASSUMPTIONS
Are you thinking about a loan or investment for your barber shop? Our customized debt and grant settings and equity capital are all to your service! You can see internal calculations of the loans, interest, and equity.
INVENTORY ASSUMPTIONS AND OUTPUTS
On this sheet, you can track your inventory and working capital within 60 months period. Outputs tab is the “engine” of the model. All core calculations are done here.
