University Business Plan: Hair Replacement and Salon Services

This report outlines a comprehensive business plan for a hair replacement and salon service, named 'Cut & Style,' focusing on the UK market, particularly Bristol. The plan includes an executive summary, detailed business objectives, a target market analysis encompassing hair replacement and salon markets, critical success factors, financial projections, and an organizational structure. The 'Cut & Style' salon aims to provide high-quality hair care and replacement services, including wigs, hairpieces, and specialized treatments like Great Lengths and Le Metric, alongside traditional salon services such as hairstyling and beauty treatments. The report emphasizes the importance of customer satisfaction, skilled staff, and a unique service offering to achieve success. Financial projections cover initial expenditures, including staff salaries, infrastructure, and marketing costs, along with forecasted revenues for the first three years of operation. The plan also highlights the salon's commitment to staying updated with the latest trends, providing a friendly environment, and offering competitive pricing to attract and retain customers. The conclusion summarizes the innovative nature of the business, emphasizing its potential for growth and its focus on holistic hair care and beauty services.

Running head: REPORT 1
Business plan
Hair replacement and salon business plan
Student details:

REPORT 2
Executive Summary
The new business idea will bring a huge profit for the nation and industry. The main reason is
that it is the different concept in comparison to some other salon. The value proposition keeps
huge significance for a business. This is essential to get development to know more in relation to
upcoming trends as well as demand of the people. The hair replacement and salon services will
be good business idea. It will be helpful to reduce the problem of people having hair related
issues. They will get better solution here. In the following sections, targeted people, key
elements, feasibility, aims of business as well as concept of business is evaluated.

REPORT 3
Contents
Introduction.................................................................................................................................................4
New business idea.......................................................................................................................................4
Business objectives......................................................................................................................................5
Target market-.............................................................................................................................................6
Hair Replacement Market........................................................................................................................6
Salon as well as Beauty Spa Market........................................................................................................6
Critical success factors................................................................................................................................7
Projection as well as feasibility...................................................................................................................8
Organizational structure-.........................................................................................................................8
Financial sources-....................................................................................................................................9
Forecasted revenue-.................................................................................................................................9
Conclusion.................................................................................................................................................10

REPORT 4
Introduction
The business idea has an important role in starting the new business. There is huge market of
salon services in Bristol (United Kingdom). The ‘hair replacement and salon’ will be great idea
to start new innovative business. The Cut & Style hair salon will more than the complete service
salon rendering great hair care as well as products with great quality in the calm and relaxing
environment. Cut & Style hair salon would also render the friendly working environment,
concerning diversity, inventiveness, as well as hard work. In this report, the concept of new
business, contributory elements, target market, purpose of business is discussed and critically
examined. The below mentioned parts also discuss the projection of cost, revenue as well as
expenditure.
New business idea
Cut & Style hair salon will render wider range of hair care services. It will also render the hair
products, wig, as well as hairpiece. The mission of the salon to render best quality hair services.
It will be aimed at rendering good quality of beauty related products. The salon will set and
render the education or training to the staff for following latest trend. It will also render the new
hair care as well as replacement techniques, and related services at the suitable locations. The
owner of salon will render hair replacement services along with facial services. The hair
replacement service will offer the Great Length as well as Le Metric. It will also render the
traditional method like wig or small hairpiece (Tarlo, 2018).
Additionally, the facilities also include 4 additional beauty stalls that will be rented out to
different cosmetologists for the contract of six months. The salon will have already negotiated

REPORT 5
term and condition for 3 of the stalls with extraordinary local cosmetologists. The experts will
render standard stylist services, like haircut along with colouring. In addition, the facility has the
isolated place that would be utilised for massage, aromatherapy along with craniofacial
treatment. The salon will also hire Licensed Massage Therapist skilled in spa setting,
correspondingly, to render the services (Baden and Prasad, 2016).
Business objectives
The main objective of this new innovative business is to render the trained services by the skilled
cosmetologist, which render the customers the self-respect as well as honesty required to be
successful in the new era (Nisar, et. al, 2016). Additionally, Cut & Style hair salon is devoted to
providing the exclusive range of corresponding services for the hairstyle along with complete
body-care in a similar place, to render the people the suitability of the single place for all the
requirements related to the hair as well as whole body-care. Following are the objectives of new
innovative business idea-
 To create better experience at the salon
 To reduce the problem of hair falling
 To give best hair styling as per the trend
 To update the customers with latest trends
 To provide the friendly environment to the customers
 To render complimentary services at the hair replacement and salon
 To render hair styling and replacement service at lower cost
 To attract more and more customers towards the salon
 To render consultant services related to hair
 To provide the customers best solution of their problems

REPORT 6
 To satisfy the customers in all the way
Target market-
Hair Replacement Market
The hair replacement sector gets in excess of 1 billion dollars per annum year in United
Kingdom individually. There are various people who are suffering from the hair-loss. They try to
decrease the problem by quick remedy they see on television because there are no professional
hair replacement services in the field. While represented with actual treatment that will work,
then various people will be amazed with salon services. They will actually get big assistance or
help. Cut & Style hair salon will be devoted to help the people having problem of hair loss of
both genders who reclaim the looks, self-respect, as well as honesty by rendering professional
service. The services and products provided by Cut & Style hair salon will be remedy of the hair
loss problems (Amankwah-Amoah, Boso and Antwi-Agyei, 2018).
Salon as well as Beauty Spa Market
The expanded products along with services of Cut & Style hair salon will also place this in the
even greater spa as well as beauty salon sector (Prendergast, 2015). In Bristol, the targeted
people will be young people, students, newly married people, as well as people suffering from
any kind of the hair problems (Cenere, 2019).
Critical success factors
It has been found that the new business will get more profits from this innovative idea. It can see
that this new business idea is helpful in increasing the productivity. The new business will also

REPORT 7
create the big changes in the industry (Borhani, 2015). It will be helpful in increasing the revenue
of the business. In this way, the business opportunities will be useful to extend the business
everywhere in the world. The major critical success factor is the increased volume of the
customers. This factor will be helpful to enhance the significance of Bristol. The people will get
what they wish from the locations in United Kingdom. This is vital to know that the people are
careful or aware about their looks. If one will get services of Cut & Style hair salon, he or she
will definitely come for second time in the salon. The opening hours of the Cut & Style hair
salon will be 10 am to 8 pm daily (Buckingham, 2018). It is anticipated that the business will be
enhanced because of the promotion. It can see that various people would come again definitely.
Following are the critical success factors to increase the business operations-
 Advertisement – this factor will be helpful in getting the name of Cut & Style hair salon
as well as concept of salon out to people in market.
 Location - Cut & Style hair salon will render easy access for the client and great
visibility to future customers.
 Unique - Cut & Style hair salon will be exclusive salon that renders services like no one.
It will be specialized in rendering the good quality hair care as well as styling services. It
will be expertise in solving the very critical hair care problems with the private
consultation.
 Discreet - the new, more visible location is connected to the range of hair services as
well as exclusive body care services. In this way, while the person comes in, passers-by
may not think that she or he is looking for the hair replacement.

REPORT 8
 Customer’s satisfaction services - it is the significant element in whether the one-time
client becomes the repeat client. After getting the services, the client will recommend the
salon to the friends along with members of the family (Mhandu and Ojong, 2018).
 Reputation - The owner along with stylist will have great reputation with current custom
The time is correct for the salon that renders the skills along with information to consider daily
hair care requirements as well as the issues related to the hair falling. In addition, the
conscientiousness of the vender, along with the earning wish of all the talented cosmetologists
doing work with Cut & Style hair salon to enhance the knowledge, will give the business greater
potential.
Projection as well as feasibility
For starting new business idea, it is essential to consider organisational structure, forecasted
revenue and sources of finance in advance. The projection of cost, expenditures as well as
revenues will be helpful to run the operations of business smoothly (Sidorova, 2015).
Organizational structure-
The organisational structure of the Cut & Style hair salon is discussed as follows-
Structure Number of workers
Hair stylists 10
Consultants 4
Hair transparent experts 5
Finance & Accounts 3
Sales Team 7
Assistance team 6

REPORT 9
Financial sources-
The salon services do not need the massive assumptions as per the nature of business (Katongole
and Mbabaali, 2019). However, the business will require the initial outlay below-
Expenditures Amount ($)
Salary to staff 65,000 $
Infrastructure cost 80,000 $
Maintenance and repair cost 40,000 $
Administration expenses 20,000 $
furniture 70,000 $
Hair replacement products 30,000 $
Total expenses 3,05,000 $
Forecasted revenue-
Revenue made by Cut & Style hair salon will be as follows-
Years projected Cost projected Revenue
First Year Approximately 70,000 $ > 60,000 $
Second Year Approximately 50,000 $ > 70,000 $
Third Year Approximately 45,000 $ > 85,000 $

REPORT 10
Conclusion
As per the above analysis, it can be concluded that the hair replacement and salon business will
be proved innovative business idea. It is realized by Cut & style hair salon that good hairs start
from within, so this salon would render not just hair care as well as replacement for all the kinds
of hair, however the finest hair vitamins as well as useful products to take care inside as well as
out personality. It can see that Cut & style hair salon would render day spa services, like massage
and facial, and help in management of care attained. In this way, the new business idea will
attract more and more customers.

REPORT 11
References
Amankwah-Amoah, J., Boso, N. and Antwi-Agyei, I., (2018) The effects of business failure
experience on successive entrepreneurial engagements: An evolutionary phase model. Group &
Organization Management, 43(4), pp.648-682.
Baden, D. and Prasad, S., (2016) Applying behavioural theory to the challenge of sustainable
development: Using hairdressers as diffusers of more sustainable hair-care practices. Journal of
Business Ethics, 133(2), pp.335-349.
Borhani, M., (2015) BRAND AND VISUAL IDENTITY DESIGN FOR A BEAUTY SALON. New
York: Springer.
Buckingham, C., (2018) Education. In HLM50+ Towards a Social Architecture (pp. 226-
253).New York: Routledge.
Cenere, A., (2019) How the selective hair-care brand redken in Italy can cocreate both with
hairdressers and consumers to build the salon experience of the future? New York: Springer.
Katongole, G. and Mbabaali, D. (2019) Skilling should be at the centre of schools agenda. New
York: Springer.
Mhandu, J. and Ojong, V.B., (2018) Virtuous life and enjoyable life: an overview of the well-
being of Zimbabwean migrant women hairdressers in South Africa. Gender and
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Nisar, N., Sattar, M.M., Memon, U. and Raza, A., (2016) New Wella Salon: Exploring Growth
Opportunities (A). Case Studies in Business and Management, 3(2), pp.112-121.

REPORT 12
Prendergast, A., (2015) Literary salons across Britain and Ireland in the long eighteenth
century. New York: Springer.
Sidorova, D., (2015) Business Project: Establishing Laser Hair Removal Business in St. UK:
Petersburg.
Tarlo, E., (2018) Great Expectations: the role of the wig stylist (sheitel macher) in orthodox
Jewish salons. Fashion Theory, 22(6), pp.569-591.