Are you about writing a barber shop business plan? If YES, here is a sample SWOT analysis for a barber shop to help you form a competitive strategy.
Barber Shop Business Plan – Economic Analysis
Barber shop business is not a Green business, as a matter of fact, you will come across several barber shops when you go looking for where to have a haircut in your neighborhood. So, if you are mapping out your economic analysis, you should carry out thorough market survey on the amount needed to rent a shop, purchase the needed barbing equipment and tools, barbing supplies and also the cost needed to successfully run the business.
Over and above, if you are considering starting a barber shop business, then your concern should not be limited to the cost of renting a shop facility and the amount needed to purchase the needed barbing equipment and tools, but also on branding and on how to build a robust clientele base. The truth is that if you are able to build a robust clientele base, you are sure going to maximize profits in the business.
A Sample Barber Shop Business Plan SWOT Analysis
Bolingo and Sons Barbing Salon is set to become one of the leading barbing salon in West Palm Beach – Florida which is why we are willing to take our time to cross every ‘Ts’ and dot every ‘Is’ as it relates to our business. We want our barbing salon business to be the number one choice of all residence in the neighborhood of West Palm Beach – Florida.
We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.
Even though our Chief Barber / Chief Executive Officer (owner) has a robust experience in barbing, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the barbing salon and cosmetology industry in the united states of America.
This is the summary of the SWOT analysis that was conducted for Bolingo and Sons Barbing Salon;
Our strength lies in the fact that we have a team of well qualified professionals and licensed barbers manning various job positions in our organization. As a matter of fact, they are some of the best hands in the whole of West Palm Beach – Florida.
Our location, the Business model we will be operating on, opening 15 hours daily and 7 days in a week, multiple payment options, well equipped barbing salon, home service deliveries and our excellent customer service culture will definitely count as a strong strength for us.
Our perceived weakness lies in the point that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business.
The opportunities that are available to barbers in West Palm Beach – Florida and in the whole of the United States of America are unlimited considering the fact that we have growing population of people who visit barbing salon at least once in two weeks. We are going to position our business to make the best out of the opportunities that will be available to us in West Palm Beach – Florida.
Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies.
It is a fact that economic downturn affects purchasing and spending power; if there are economic meltdown, people who usually visit barbing salon at least once in two weeks may likely reduce it to once in a month or so and that will definitely affect of revenue. Another threat that may likely confront us is the arrival of a new and bigger / well established barbing salon brand in same location where ours is located.
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