Business Plan for Your-Care Beauty Salon: Financial Plan, Funding Requirements, Legal and Compliance Issues

Business Plan

Executive Summary:
In this following report it based on Beauty Salon business plan segments which aims
towards identifying about purpose and STP which specify target market and customer. It is
important legal and compliance issues in perspective of beauty salon that essential for new
beauty salon start ups.

Table of Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY...................................................................................................................................2
Financial Plan and Funding requirement:...................................................................................2
Legal and compliances issues ..............................................................................................11
CONCLUSION..............................................................................................................................13
References:.....................................................................................................................................14
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INTRODUCTION
Business plan is a form of written document that describe about specific company's core
business activities, objectives and how it plans to accomplish its goals. A good business plans
should include an executive summary, product and services, marketing strategy analysis,
financial and budget (Cant and Wiid, 2020). All these requirement helps to company for well
strategy planned for making better opportunity and attain competitive advantages. In this
following report, the objective to conduct a business plan of beauty salon in which financial
plan, funding requirement, legal and compliances issues would be discuss. The company is
“Your-Care” which is new beauty salon business in London, United Kingdom.
MAIN BODY
Financial Plan and Funding requirement:
Financial plan is different from financial statement where it defines as step to step
approach to meet one's life goals. A financial plan acts as guide through company or life journey.
Financial planning helps to determine about short or long term financial goals and create plan to
meet those goals.
There are some of important reason which depicts about why financial plan is needed to new
business plan are:
 Income: It can be possible for managing income in more efficiently through better
planning. To manage income will help to understand how much need for tax payment
where other monthly, expenditure and saving.
 Cash flow: To increase cash flows by carefully monitoring spending patterns and
expenses. Tax planning, prudent spending and carefully budgeting which makes keep
more hard earned.
 Capital: An increase in cash flow can leads to an increase in capital.
 Family Security: To providing family security is an important part of the financial
planning process. In that security it covers family insurance and policies in place can
provide peace of mind.
 Standard of living: The saving is also part of financial planning where it helps to create
good planning in difficulties times.
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