Place is your physical location as well as any online presence you have.
Promotion is how you will lure customers to spend money with you.
Investors and lenders focus on the first page of the executive summary before deciding whether to read on, so lay out the most critical elements right off the bat.
Describe your beauty salon in simple, concise terms.
For example, a budget salon has a very different relative market than an upscale lifestyle salon.
Search trade websites and industry associations to learn current trends and upcoming predictions, and address any potential obstacles with strategies to overcome them.The everyday short-term processes include every step involved in serving a customer, from scheduling appointments through washing, blow drying, cutting, and styling hair, and settling the bill at the end.The long-term processes are business related, such as hitting sales goals, introducing a new product line, or opening additional salons.Provide a summary of your market analysis and proof that the market can support another salon.Also describe what makes your salon uniquely qualified to fulfill an identified need.Marketing Plan The marketing plan is based on the four P’s: Product, Place, Price, and Promotion.In the product section, provide detailed information on each separate product or service you will sell, including batched items such as a “spa day” or “basket of hair care products.” Price is what you will charge for each item or service, with an explanation of how you arrived at those costs.Industry Analysis The industry analysis looks at your relative market as a whole and how your salon can compete in the current marketplace.The relative market is the particular niche into which your salon fits, rather than the beauty industry overall.Customer Analysis The customer analysis breaks down your specific targeted market into demographics and clearly explains how you will fulfill a need.Remember, your market is not “everyone who needs a haircut.” Rather, it might be upper income women between the ages of 30 and 50 in a specific part of town, or families looking for a deal in a different neighborhood.