Do you want to start a children’s hair salon? If YES, here is a detailed sample children’s hair salon business plan template & FREE feasibility report.
Just like adults, children also visit hair salons and as a matter of fact, they do most often that note hence opening a hair salon that strictly cater for kids is just the way to go if you are interested in niche market in the hair salon industry.
Opening children hair salon in an area with the right demographic composition; an area with loads of children but fewer niche salon (children’s hair salon) can be very lucrative. A hair salon that caters for children only comes with its own fair share of challenges, but that does not rule out the fact that it is indeed a profitable business venture. An aspiring entrepreneur can either choose to operate a unisex children salon or gender specific children’s salon.
A Sample Children’s Hair Salon Business Plan Template
Table of Content
- 1 Industry Overview
- 2 Executive Summary
- 3 Our Service Offerings
- 4 Our Mission and Vision Statement
- 5 Job Roles and Responsibilities
- 6 SWOT Analysis
- 7 MARKET ANALYSIS
- 8 Our Target Market
- 9 SALES AND MARKETING STRATEGY
- 10 Sales Forecast
- 11 Publicity and Advertising Strategy
- 12 Startup Expenditure (Budget)
- 13 Sustainability and Expansion Strategy
Children’s hair salon is a salon that strictly caters for children of all ages and it could be unisex, or gender specific. The Hair Salon industry of which children’s hair salon belongs to includes salons that primarily offer hair care services such as haircutting, hair coloring and hairstyling services.
Additionally, most hair salon usually provide other related services such as manicure and pedicure, facials and makeup applications (except permanent makeup) and retail beauty products. The Hair Salon industry has managed to untie its early post recessionary knots.
No doubt, the positive change in consumer sentiment and per capita disposable income have boosted the industry growth and revenue in recent years. 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.
Going forward, the industry is forecast 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.
The Hair Salons industry of which children’s hair salon business belongs to is indeed a growing industry and pretty much thriving in all the parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al. As a matter of fact, there are no companies with a leading market share in the industry.
Statistics has it that in the United States of America alone, there are about 972,000 licensed and registered hair salons / children’s hair salons responsible for employing about 1,352,772 employees and the industry rakes in a whooping sum of $47 billion annually with an annual growth rate projected at 1.3 percent.
In recent time, the Hair Salons industry has been busy with cosmetic improvements over the last five years. Although, demand, especially for the industry’s luxury services such as permanent hair texture modification, facials and massages, stagnated during the early recovery period, demand for industry services grew steadily over the last five years.
With consumer confidence rising, the period of economic recovery has consumers returning to hair salons for such discretionary services. Consequently, the revenue generated in the industry is projected to increase at an average annual rate of 1.3 percent to $42.4 billion over the next five years.
The industry is expected to benefit from favorable macroeconomic conditions, such as declining unemployment and rising per capita disposable income. Although discretionary incomes are expected to expand at a slower rate, the continued growth of consumer spending is expected to indulge in ancillary, higher-value services such as hair coloring, tinting and straightening.
As a result, expanded offerings of these price-premium services are expected to drive industry revenue. Over and above, children’s hair salon businesses all over the world are still enjoying good patronage particularly if they are well positioned and if they know how to reach out to their target market.
The name of our company is Generation Next™ Children’s Hair Salon, LLC, we are a registered and standard unisex children’s hair salon business that is incorporated under the law of the United States of America. We have been able to secure a standard facility in a densely populated business district in the heart of Los Angeles – California, U.S.
We are strategically positioned in between a residential center and a school district and we are set to services the whole of the community both corporate clients and individual clients alike.
Our basic service offering to our highly esteemed customers as a unisex children’s hair salon will revolve around haircutting services, hair coloring services, other hair services, resale of merchandise and hair care products, providing hairstyling services, and other complimentary services et al.
Our intention of starting a unisex children’s hair salon business is to offer only the above stated services, but we will not close our doors to diversification (additional services) as long as it does not affect our core services. In the bid to maximize our position as the leading unisex children’s hair salon in Los Angeles – California.
Generation Next™ Children’s Hair Salon, LLC is a playfully modern v dedicated to providing the best experience to our client. Our kid-friendly stylists are trained to provide a comfortable atmosphere while cutting and styling your kid’s hair with patience and speed. We use hair care products that are kid-friendly and safe.
At Generation Next™ Children’s Hair Salon, LLC, we provide plenty of activities to keep your kids entertained. From writing on our chalk wall to watching movies, playing games on our tablets, and enjoying lollipops and snacks, The Kids Salon has the right touch to make getting a haircut fun and effortless experience for any kid and parent.
At Generation Next™ Children’s Hair Salon, LLC, we are passionate in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to start our own unisex children’s hair salon business; we are in the industry to make a positive mark.
We are quite optimistic that our values and quality of service offering will help us drive our unisex children’s hair salon business to enviable heights and also help us attract the numbers of clients that will make the business highly profitable. We are a company that will be dedicated to establishing good business relationship with our clients giving them value for their money and reasons for them to hire our services over and over again.
We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality and affordable services and that is exactly what we will do. We are open to the use of latest technology in the Hair Salons industry. No doubt our excellent customer service, honesty and the range of services we offer will position us to always welcome repeated customers.
Generation Next™ Children’s Hair Salon, LLC Company is owned and managed by Ms. Nora Bash Edwards and her family. Ms. Nora Bash Edwards is a hair stylist per excellence, she has well over 15 years of experience managing some of the leading hair salons and make – up and cosmetic brands in different cities in the United States of America prior to starting Generation Next™ Children’s Hair Salon, LLC Company.
Our Service Offerings
Generation Next™ Children’s Hair Salon, LLC Company is a standard and well – equipped unisex children’s hair salon that offers a wide range of services that revolves around the Hair Salons industry and other complementary services.
We intend giving our customers every reason to always hire our services which is why we have customized our services. These are the services we will offer as a unisex children’s hair salon;
- Haircutting services for kids
- Hair coloring services for kids
- Hair styling services for kids
- Hair treatment and shampoo applications services
- Resale of merchandise and hair care products for kids
Our Mission and Vision Statement
- Our Vision is to become the number one unisex children’s hair salon in the whole of Los Angeles – California with active presence in major cities in the United States of America and Canada.
- Our mission as a unisex children’s hair salon is to develop a highly successful, and profitable – all round unisex children’s hair salon business which provides quality hair dressing and beauty services for kids in our community and to become a standard for an ideal unisex children’s hair salon business not only in the State of California but also throughout the United States of America and Canada where we intend selling our franchise.
Our Business Structure
We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our unisex children’s hair salon on the right business foundation.
As a matter of fact, we are set out to build a unisex children’s hair salon business that will be a standard for the unisex children’s hair salon line of business in the United States of America and Canada. We want to build a business of dedicated workforce who will go all the way to ensure that our customers are satisfied and they get value for their money.
In other to achieve this, we aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why will be putting structures and processes in place that will help us deliver excellent services and run the business on auto pilot.
The success of our unisex children’s hair salon business will be anchored on the team not on any individual. With the wide range of our service offerings, we are only expected to employ more than it is required to run a conventional unisex children’s hair salon business.
Definitely, we will have various employees to man the various services offering of Generation Next™ Children’s Hair Salon, LLC Company. Generation Next™ Children’s Hair Salon, LLC Company will employ professionals and skilled people to occupy the following position;
- Chief Stylist – Manager (Owner)
- Accountant / Cashier
- Marketing and Sales Executive
- Client Service Executive
- Kids Hair Stylist, Hair Dressers and Barbers et al (6)
Job Roles and Responsibilities
- Responsible for providing direction for the business
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals and payment of salaries
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for managing the daily activities in the organization
- Ensure that the office facility (hail salon) is in tip top shape and conducive enough to welcome customers
- Prepares budget and reports for the organization
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Design job descriptions with KPI to drive performance management for all employees
- Regularly hold meetings with key stakeholders (clients and member of the board) to review the effectiveness of the business Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversee the smooth running of the daily activities of organization.
Marketing and Sales Executive
- Identify, prioritize, and reach out to new clients, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develop, execute and evaluate new plans for expanding increase sales
- Document all customer contact and information
- Represent Generation Next™ Children’s Hair Salon, LLC Company in strategic meetings
- Help increase sales and growth for Generation Next™ Children’s Hair Salon, LLC Company.
Accountant / Cashier
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for the organization
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Generation Next™ Children’s Hair Salon, LLC Company
- Serves as internal auditor for Generation Next™ Children’s Hair Salon, LLC Company.
Kids Hair Stylists, Hair Dressers and Barbers et al (6):
- Responsible for handling haircutting services, hair coloring services and other hair services
- Resale of merchandise and kids products
- Providing hairstyling services for kids
- Providing hair treatment and shampoo applications
- Handle any other duty as assigned by the manager
Unisex children’s hair salon business is one of the many businesses that can easily generate sales with little stress as long as they are well positioned and equipped to carry out their services. We are building a standard unisex children’s hair salon business with variety of services which is why we have decided to subject our business idea (company) to SWOT Analysis.
Ordinarily we can successfully run a normal unisex children’s hair salon business without the stress of going through the required protocol of setting up a new business including writing a detailed business plan, but because of the nature of the kind of unisex children’s hair salon business we want to establish, we don’t have any option other than to follow due process.
We hired the services of Mr. Coleman Carrington, an expert HR and Business consultant with bias in start – ups to help us conduct SWOT analysis for our company and he did a pretty job for us. Here is a preview of the result we got from the SWOT analysis that was conducted on behalf of Generation Next™ Children’s Hair Salon, LLC Company, Los Angeles – California;
Generation Next™ Children’s Hair Salon, LLC Company is centrally located in a densely populate residential estate and school district in Los Angeles – California; our location is in fact one of our major strength. We have a well – equipped state of the art unisex children’s hair salon equipment and tools and we are also one of the very few unisex children’s hair salons in the whole of Los Angeles – California that offers home service.
Another strength that counts for us is the power of our team; our workforce and management. We have a team that are considered experts in the hair salons industry, a team of hardworking and dedicated individuals.
Generation Next™ Children’s Hair Salon, LLC Company is a new business which is own by an individual (family), and we may not have the financial muscle to sustain the kind of publicity we want to give our business. As a new business, we are also quite aware that it will take time for us to build trust with our clients.
We are centrally located in one of the busiest areas in Los Angeles – California and we are open to all the available opportunities that the city has to offer. Our business concept also positioned us to be a one stop shop in the unisex children’s hair salon line of business.
The truth is that there are no standard and well – equipped unisex children’s hair salon business within the area where ours is going to be located; the closest unisex children’s hair salon to our proposed location is about 6 miles away. In a nutshell, we do not have any direct competition within our target market area.
Some of the threats that are likely going to confront Generation Next™ Children’s Hair Salon, LLC Company are unfavorable government policies, seasonal fluctuations, demographic / social factors, downturn in the economy which is likely going to affect consumers spending and of course emergence of new competitors within the same location where our target clients are located.
- Market Trends
Hair salon / unisex children’s hair salon business responds to the increase in household spending; the trend of the market can be predicted without stress. The Hair Salons industry has benefited from rising consumer sentiment and per capita disposable income over the five years to 2018.
These trends have also led to increased demand for ancillary services to standard haircuts, such as hair modification treatments (e.g. straightening procedures, perms and relaxing treatments), skincare services and others.
Over the five years to 2023, the industry is forecast to continue performing steadily. Per capita disposable income and consumer confidence are anticipated to continue rising, providing consumers with more discretionary income for luxury and price-premium services at hair salons and barber shops.
With increased discretionary funds, consumers are expected to seek salon services instead of less expensive drug store products. Additionally, ecofriendly products made with natural ingredients are expected to gain popularity as more consumers opt for safer, more sustainable products.
Lastly, another trend in the hair salons industry is that most hair salons and unisex children’s hair salons in the bid to survive the recent global economic meltdown included additional services to their core service offerings. Some hair salons and unisex children’s hair salons includes complimentary services such as hosting children’s parties, retailing hair care and beauty products, facial tanning and grooming services amongst many others.
It is much easier for hair salons and unisex children’s hair salons to increase their revenues by diversifying as against increasing the scope of their market.
Our Target Market
Before choosing a location for our unisex children’s hair salon business, we conducted our feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings. Basically, those who will benefit from our service offering are children of all ages both male and female kids and babies who will be having their first haircut.
- Our Competitive Advantage
Unisex children’s hair salon business is an easy to set up business that does not require huge capital base to achieve; anybody can set a unisex children’s hair salon business if they have the required skills. It means that the possibility of unisex children’s hail salon businesses springing up in the location where our unisex children’s hair salon business is located is high.
We aware of this which is why we decided to come up with a business concept that will position us to become the market leader in Los Angeles – California. We are fully aware that a child’s first haircut is an important milestone!
Hence our first haircut package includes a souvenir card with your child’s name, the date of the haircut, a lock of hair and a photo to take home, so your family can look back on this day and smile – the only unisex children’s hair salon in our location with this unique package.
Another competitive edge is that we are standard unisex children’s hair salon business that has loads of complimentary business offerings that can easily assist us in attracting customers within the radius of our unisex children’s hair salon business operations.
We can confidently say that the location of our unisex children’s hair salon business will definitely count as a positive for us amongst any competitor that might start a unisex children’s hair salon business in same location where ours is located.
For the time being, Generation Next™ Children’s Hair Salon, LLC has no real competitors that can match compete with the quality of services we offer and our business offerings et al. Our customer service will be customized to meet the needs of all our customers.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups unisex children’s hair salon business in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
SALES AND MARKETING STRATEGY
The marketing strategy for Generation Next™ Children’s Hair Salon, LLC is going to be driven basically by excellent customer service, honesty and quality service delivery. We will ensure that we build a loyal customer base. We want to drive sales via the output of our jobs and via referral from our satisfied customers. We are quite aware of how satisfied customers drive business growth especially businesses like unisex children’s hair salon services.
Generation Next™ Children’s Hair Salon, LLC is a unisex children’s hair salon business that is strategically located and we are going to maximize the opportunities that is available which is why we spend more to locate the business in a location that will be visible and enable us to access our target market.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Generation Next™ Children’s Hair Salon, LLC.
Generation Next™ Children’s Hair Salon, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our unisex children’s hair salon business by sending introductory letters alongside our brochure to households, hotels, hospitals, hostels, and camp grounds et al and key stake holders in Los Angeles – California.
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Use friends and family to spread word about our business
- Post information about our unisex children’s hair salon and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
- Placing a small or classified advertisement in the newspaper, or local publication about our company and the services we offer
- Leverage on referral networks such as agencies that will attract clients who would need our customized services
- Advertise our unisex children’s hair salon in relevant magazines, newspapers, TV stations, and radio station.
- Attend relevant expos, seminars, and business fairs et al to market our services
- Engage in direct marketing approach
- Encourage the use of word of mouth marketing from loyal and satisfied students
- Join local chambers of commerce and industry to market our services.
Sources of Income
Generation Next™ Children’s Hair Salon, LLC Company is established with the aim of maximizing profits in the hair salons industry and we are going to go all the way out to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.
Generation Next™ Children’s Hair Salon, LLC Company will generate income by offering the following services;
- Haircutting services for kids
- Hair coloring services for kids
- Hair styling services for kids
- Hair treatment and shampoo applications services
- Resale of merchandise and hair care products for kids
One thing is certain, there would always be parents, schools, and orphanages et al who would need the services of unisex children’s hair salon services.
We are well positioned to take on the available market in Los Angeles – California and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our unisex children’s hair salon business and our clientele base.
We have been able to critically examine the unisex children’s hair salon market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar start – ups in Los Angeles – California.
Below is the sales projection for Generation Next™ Children’s Hair Salon, LLC Company, it is based on the location of our business and of course the wide range of related services that we will be offering;
- First Fiscal Year (FY1): $150,000
- Second Fiscal Year (FY2): $350,000
- Third Fiscal Year (FY3): $550,000
N.B: This projection is done based on what is obtainable in the hair salons industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Our Pricing Strategy
Our pricing system is going to be based on what is obtainable in the hair salon industry cum unisex children’s hair salon line of business, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in Los Angeles – California.
Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us. The prices of our services will be same as what is obtainable in the open market knowing fully well that home services attract extra charges compare to what a conventional salon would charge
- Payment Options
The payment policy adopted by Generation Next™ Children’s Hair Salon, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Generation Next™ Children’s Hair Salon, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via mobile money
- Payment via Point of Sales Machines (POS Machines)
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payments for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
Publicity and Advertising Strategy
Generation Next™ Children’s Hair Salon, LLC Company is set to create a standard for unisex children’s hair salon business in Los Angeles – California and throughout the United States which is why we will go all the way to adopt and apply best practices to promote our business.
Good enough there is no hard and fast rule on how to advertise or promote a unisex children’s hair salon business. The challenge is that most unisex children’s hair salon companies do not have the required money to pump into publicity and advertising. The cash they have will be reserved to take care of overhead and operational cost.
We will ensure that we leverage on all conventional and non – conventional publicity and advertising technique to promote our unisex children’s hair salon business. Here are the platforms we intend leveraging on to promote and advertise Generation Next™ Children’s Hair Salon, LLC Company;
- Encourage our loyal customers to help us use Word of Mouth mode of advertisement (referrals)
- Advertise our unisex children’s hair salon business in relevant children’s magazines, local newspaper, local TV stations and local radio station
- Promote our business online via our official website and employ strategies to pull crowd to the website on a regular basis
- List our business on local directories (yellow pages)
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, et al to promote our brand
- Install our Bill Boards on strategic locations in and around Los Angeles – California
- Leverage on direct coupon mailing approach
- Engage in roadshow from time to time in target communities all around Los Angeles – California
- Distribute our fliers and handbills in target areas all around Los Angeles – California.
Startup Expenditure (Budget)
In setting up a unisex children’s hair salon business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a higher amount of capital as you would need to ensure that your employees are well taken care of.
However, this is what it would cost us to start our own standard and world class unisex children’s hair salon in the United of America;
- The total fee for registering the business in Los Angeles – California – $750.
- Legal expenses for obtaining licenses and permits – $1,500.
- Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The cost for hiring Business Consultant – $2,000.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $5,800.
- The cost of accounting software, CRM software and Payroll Software – $3,000
- The cost for leasing small office facility – $50,000.
- The cost for facility remodeling – $5,000.
- Other start-up expenses including stationery – $1000
- Phone and utility deposits – $3,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The cost for Start-up inventory / supplies (sanitizers, after shave, shampoos, hair oil, hair cream, dye, powder and clipper oil et al) – $5,000
- The cost for the purchase of equipment (clippers, scissors, Hand dryers, comps, hair washing kits, and towels et al) – $15,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Credit card machine, POS, tables and chairs et al): $4,000.
- The cost of Launching a Website: $600
- The cost for our grand opening party: $1,500
- Miscellaneous: $2,000
We would need an estimate of one hundred and fifty – two thousand dollars ($152,000) to successfully launch our unisex children’s hair salon business in Los Angeles – California, US.
Please note that the amount is on the high side because we decided to start a business that does not revolve around one man; a unisex children’s hair salon business with the ideal business structure of a business with the potential to grow and sell franchise in future.
Generating Funding / Startup Capital for Generation Next™ Children’s Hair Salon, LLC Company
Generation Next™ Children’s Hair Salon, LLC Company is a business that will be owned and managed by Ms. Nora Bash Edwards and her family. They are the sole financier of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $52,000 (Personal savings $40,000 and soft loan from family members $12,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Generation Next™ Children’s Hair Salon, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Generation Next™ Children’s Hair Salon, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Complete
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Acquiring facility and remodeling the facility to fit into a 21st century unisex children’s hair salon: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of hair stylist, barbers, beauticians and back office staff: In Progress
- Purchase of the needed clippers, hair dressing and beauty care tools, equipment, and supplies: In progress
- Creating Official Website for the Company: Completed
- Creating Awareness for the business both online and in the neighborhood: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – suppliers of all our needed hair dressing and beauty care supplies et al: In Progress
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