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Last Updated on: June 13, 2022 by Joseph Muriithi
This is a Sample Business Plan for Luxury Salon establishments for both men and women. The salons will offer standard salon services for both men and women. These services will range from hair services, nails services, and skin care. ITP Salon is looking forward to establishing a chain of salon outlets with the first flagship outlet being located in New-York city and the rest will be based in the affluent cities of Brazil.
This Sample Business Plan for Luxury Salon has been developed to lay out the fundamental and core business strategies that will differentiate ITP Salon salons from the rest of the salons within the regions of operation. These business strategies comprise of Development concepts that have not been done by other luxury salons, quality of service delivery outline, marketing strategy, market analysis, and competition analysis.
This Sample Business Plan for Luxury Salon will put across the establishment concept of developing a luxury salons for both men and women featuring an in-location café. This plan will outline how the concept of a café in the salon will build up to be a competitive model that has not been put into place by any other establishments.
This Business will be a chain of luxury boutique hair salons for men and women designed to meet the needs of each and every individual client. The salons will feature a café in the same location to promote social activity. Furthermore, ITP SALON outlets will offer custom hair styling choices where the customer directs the stylist of how they want their hair styled.
ITP Salon is a luxury boutique salon for men and women to be established in New York and Brazil as a delivery chain. In the current establishments, luxury salons have not been able to deliver the required customer satisfaction. ITP Salon will bridge this gap by providing dedicated luxury salon services that are tailor made to suits the needs of each and every client. These services will include;
- Men hair cuts
- Weaving and waving
- Nail polishing
- Nail sculpturing
- Nail curing
- Scalp/body massages
- Body waxing
Beauty products sale
- Nail polishes
- Body scrubs
- Facial creams
- Other range of beauty products
Brazil market summary
The beautification (beauty and grooming) is an economically stable business in Brazil. The Brazilian market for beauty and grooming has been on the rise and is expected to overtake Japan as the World’s second largest beauty market. This dramatic rise in beauty and grooming trends has been caused by the increase in disposable income as more men and women join the national workforce. Industry trends show that time become more limited, people want faster, easier and more custom looks. This is because customers have turned out to be highly educated and thus more demanding for overall quality, ambience and a sense of belonging to the places they visit for their salon needs. The sales of beauty products and services in Brazil hit $43 billion in 2013 a growth of 142% in just five years making it the fastest growing market for beauty products and services next to Japan. This growth has been streamlined further and skyrocketing growth will still be expected up to2020 according to forecast statistics.
New York Market summary
According to IBIS World, hair salons specializing in beauty and grooming products and services has seen rising consumer sentiment and per capita disposable income have boosted industry growth over the five years to 2015. This has also led to increased demand for ancillary services to standard haircuts, such as hair modification treatments (e.g. straightening procedures and perms), skin-care services and massages. In the coming years, the industry is forecasted to exhibit more steady growth. Per capita disposable income and consumer confidence will keep rising as the unemployment rate continues to decline, providing consumers with more discretionary income for luxury services at hair salons. In the US, the market growth for these services is set to an increase of 2.2% growth rate annually from 2011 to 2021. New York City holds 9.3% of the total salon establishments across all United States and it is attributed to its high population and concentration of people.
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