Are you about writing a hair salon business plan? If YES, here is a sample SWOT analysis for a hair salon to help you form a competitive strategy.
Hair Salon Business Plan – Economic Analysis
There are certain things you must research about the business you intend going into and the hair salon business is no different. Even though there was an economic downturn that saw fewer demand for hair salon services, the slow economic growth has seen this industry boasting more revenue, especially as more people are not only becoming sentimental about their hair, but there is a steady capita per disposable income. Once you have found that this is the business for you, you would need to determine if you have the funds to run the business successfully.
Another decision you would need to make that would ensure that your business becomes successful is in determining where you would locate your business. The location of your hair salon is very important as it will determine if your business will grow to become a success or if it will fail due to lack of customers. This means that you would need to ensure that your hair salon business is situated in an area with high foot and vehicular traffic.
A Sample Hair Salon Business Plan SWOT ANALYSIS
At HairDo, we understand the need to be at the top of one’s game, which is why we have gone ahead to identify our areas of strength and weaknesses. To a very large extent, being conversant with this means that we have the opportunity to up the ante when our services are involved.
We therefore thought that it was going to be a very nice idea if we employed the best of consultant’s to help us carry this poll out, so as to be conversant with our strengths , weaknesses , as well as the opportunities that we are faced with.
As such we got hold of Mr. Alex Zen who is a renowned business consultant to help us carry out these activities. It is pertinent to note that he did a very thorough job. Here is a preview of the result we got from the SWOT analysis that was conducted on behalf of HairDo Hair salon, New York.
HairDo Hair salon is centrally located in Madison, New York city; our location is in fact one of our major strengths because we have invested quite a lot in seeing that we have the best hair stylists, as well as a top notch facility that can attract new clients ( celebrities and non-celebrities) to us on a continual basis.
We believe that with our strength, we will be able to attract a good number of people. The type of equipment that is procured is such that makes our work pretty easy.
It is no longer news that the competition rate in the hair salon business is one of the highest all over the world. It is for this reason that our weakness was realized. As such; our weakness is solely hinged on the fact that there are loads of other business owners who have delved into the hair making business in New York.
This means that we have to brace yup for ample competition. Nonetheless, we shall continue to do our best to see that we bridge a gap between our strength and weakness.
Without mincing words, New York is one business district that boasts of an avalanche of clients. This is why we are located in such an area to start with. We know without reservation that we shall attract all and sundry when we kick start operation.
Already the number of salons that are located in the vicinity where we plan to operate doesn’t meet the full needs of the people. As a result, we know that with us being there, and with the type of services we want to offer, and how we want to offer them, we shall break even pretty soon.
Some of the threats that are likely going to confront Hair Do Salon might be losing our clients to other competitors. If we win them over and are not able to give them the best of services, then there might be likelihood that we lose them again. This is one of the aims of wanting to even surpass the needs of the people so that we can gladly continue to be at the top always.