Barber Shop Business Plan Template 

30 page business plan template & financial model

✅ Sections in Business Plan Template: Executive Summary, Business Description, Fund Usage, Industry Analysis, Marketing Plan, Organizational Overview, Operational Overview and Financial Plan. Format: Google Doc and Microsoft Word.

✅ Sections in Financial Model: Firstly you get 3 year anuual projection in the financial model and monthly breakdown for Cost and Revenue Tabs. The tabs that you get in Google Sheet or Excel File included are Dashboard, Income Statement, Cash Flow Statement, Balance Sheet, Revenue Monthly Breakdown, Cost of Goods Sold or Cost of Service Breakdown, Operating Cost, Non- Current Asset Schedule (which is used to calculate depriciation) and Graphs & Charts which can be copied to the business plan.

✅ 100% Editable in both Mac and Windows

✅ Detailed 21 Statement Financial Model

✅ Write a Plan in just 2 days!

✅ Video Tutorial

✅ Hands-on Support

Here is a Glimpse of the Executive Summary

The [Company Name] barber shop, founded by [Founder Name], is a modern and stylish grooming destination for men and boys. Located in a convenient and vibrant neighborhood, our shop offers a wide range of services, including classic haircuts, beard trims, hot towel shaves, and grooming products. With highly skilled and experienced barbers, we provide personalized attention and exceptional customer service, creating a welcoming and comfortable atmosphere for our clients.

 Problem Summary: Problems that men are commonly facing include difficulty finding a barbershop that offers high-quality services at a fair and affordable price point, difficulty finding a barbershop that offers personalization, and difficulty finding a barbershop that has a good reputation and positive reviews from other customers.

 Solution Summary: Offering competitive prices, promotions, and discounts, as well as value-added services such as consultation, a diverse range of services, maintaining an open line of communication with customers, and providing excellent customer service.

 Industry Overview: In the United States, the barbershop industry is a highly competitive and dynamic sector, with a diverse range of businesses catering to various segments of the population. According to the National Barber Association, the United States has over 50,000 barbershops and employs over 100,000 barbers.

 Financial Overview:

Highlights of the Barber Shop Business Plan Template 

Charts and graphs in the business plan are editable through the financial model. When you make changes to the spreadsheet then all the graphs and charts in the spreadsheet then these are automatically updated in the business plan. In addition, proper links have been provided in the business plan template in order to edit graphs or charts.

These are just some of the cover pages which you can use for your Barber Shop Business. It is easilty editable with a free Canva account. There are 33 cover pages to choose from and you can can change the pictures or writing.

Is Barber Shop Business Plan Template Profitable?

We have analyzed these 3 factors in details in our financial model. Find out by playing with the numbers in the financial model. Edit the model with either Microsoft Excel or Google Sheets and see the magic! Don’t forget to check out the dashboard to summarize the projected financial performance. 

Fund Usage Plan

You need to identify how you will use the funds. We already have a list of items in the financial model which can be modified and this chart will update automatically. This is mostly needed by investor or lenders as they want to know- why you need X amount of funds?

Income Statement

There are more than 21 financial statements in the barber shop business plan template. Here are just some of them and all the statements are editable from the spreadsheet or excel file. These statements are already pre-loaded with barber shop business related content. Also, you can add or remove anything based on your requirement.

Balance Sheet

Cash Flow Statement

Revenue Summary

Cost Summary

Loan Ammortization

Marketing Plan

The marketing plan will help you create a budget with appropriate promotional channels, brand management, target market segmentation, possible promotional tactics, etc.

Promotional Channels

You can remove or add more channels based on your own strategy. These are also mentioned in the financial model excel file which will help you identify the budget, customer acquisition cost and number of customers acquired from each of the promotional channels.

Possible promotional channel for your barber shop business. There are more channels in the business plan template.

✅Social Media Marketing: Create and maintain active profiles on platforms like Instagram, Facebook, and Twitter to showcase your work, share customer testimonials, and post regular updates. Use relevant hashtags and engage with your audience through posts, stories, and live streams. Run targeted paid advertising campaigns to reach a broader audience.

✅Google My Business: Claim and optimize your Google My Business listing to ensure your shop appears in local search results and on Google Maps. Encourage satisfied customers to leave reviews and ratings.

✅Website: Build a professional website that includes essential information like services offered, pricing, location, and contact details. Optimize your website for search engines (SEO) to increase its visibility in local search results.

✅Email Marketing: Collect email addresses from customers and prospects to send out newsletters, special offers, and updates. Use email marketing tools to automate and segment your campaigns for better targeting.

Business Description

Business Name: 

Founders:

Management Team:

Legal Structure: [e.g. LLC]

Location: 

Mission: “At [Barber Shop Name], our mission is to provide our clients with more than just a haircut; we aim to deliver an exceptional grooming experience. Through our skilled barbers, welcoming atmosphere, and top-notch services, we strive to boost our clients’ confidence, helping them look and feel their best. We are committed to upholding the timeless tradition of barbering while staying at the forefront of modern trends and techniques, ensuring every visit to our shop is a memorable and revitalizing experience.”

Vision: “Our vision at [Barber Shop Name] is to become the go-to destination for individuals seeking not just a haircut, but a place where they can unwind, socialize, and emerge with a renewed sense of self-assurance. We envision a thriving community of loyal customers who trust us for their grooming needs, as well as a team of passionate and skilled barbers who continuously innovate and perfect their craft. Through consistent excellence in service and an unwavering commitment to quality, we aspire to set the standard for excellence in the barbering industry, earning recognition as the premier barber shop in our region.”

Goals: 

✅Increase monthly revenue by a specific percentage (e.g., 10%) over the next year.

✅Attract and retain a certain number of new clients each month.

✅Improve your online presence and visibility on search engines and social media

Products: 

✅Haircuts

✅Hot Towel Shaves

✅Shampoo and Conditioning

Industry Analysis

Industry Overview

The barber shop industry has experienced steady growth, with the U.S. market estimated at $7 billion in 2020. It’s a competitive landscape, with a mix of independent shops and chains. Services typically include haircuts, shaves, and beard trims, with an increasing focus on personalization, sustainability, and technology integration. Labor shortages and economic fluctuations are challenges, while diversification and specialization offer growth opportunities.

Opportunities

✅Diversification of Services: Consider expanding your service menu to include additional grooming and beauty services, such as skincare, facials, or spa treatments, to attract a broader customer base.

✅Specialization: Focus on a specific niche within the industry, such as vintage or classic barbering, ethnic hair care, or grooming services for a particular demographic (e.g., seniors or children).

✅Product Sales: Offer grooming products such as razors, shaving creams, beard oils, and hair care products for retail within your shop, providing an additional revenue stream.

✅Online Presence: Strengthen your online presence through social media, a user-friendly website, and online booking systems to reach and engage with a wider audience.

Target Market Segmentation

Geographic Segmentation:

✅Urban vs. Suburban Locations: Consider targeting both urban and suburban areas. Urban locations may attract a younger, trend-focused crowd, while suburban areas may cater to a more diverse demographic.

✅Local Neighborhoods: Tailor your marketing efforts to specific neighborhoods or districts within your city, as preferences and trends can vary significantly from one area to another.

Demogeographic Segmentation:

✅Age: Segment your market based on age groups, such as: Young adults (18-24) seeking trendy and modern styles. Adults (25-44) looking for classic grooming services.Seniors (45+) interested in traditional barbering and grooming.

✅Gender: Consider offering services for both men and women, or focus exclusively on one gender based on local demand.

✅Income: Create pricing strategies and services that cater to different income levels, ranging from budget-friendly to premium experiences.

Market Size

Total Addressable Market: TAM refers to the total demand for a product or service in a specific market. It represents the entire market size without any limitations, assuming there are no constraints or barriers to adoption. TAM represents the maximum revenue opportunity available for a product or service if it were to capture 100% market share. Let’s assume the global perfume market is estimated to be $50 billion annually. So, our TAM is $50B.

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