Sleek And Chic Hair Salon KEYYANAH GOURDINE BUSINESS AND PROFESSIONAL WRITING

Business Concept  Sleek And Chic Salon is a beauty salon dedicated to its customers with also providing satisfaction with outstanding service, quality products, and wonderful atmosphere. We are friendly, hard working, respectful, and we also have acceptable price/value relationship.

Start up  After searching for a spacious enough building for the salon, the owners decided to rent. The start up capital will be used for the design, rent, equipment and other expenses. Total start up expenses is $17,

Start Up Funding Startup Requirements Startup Expenses Legal$250 Equiptment$8,000 Insurance$350 Rent$1,950 Other Total Startup Expenses$10,550 Startup Assets Cash Required$500 Startup Inventory$800 Other Current Assets$600 Long-term Assets$59,000 Total Assets$60,900 Total Requirements$71,450

Company Summary  Sleek and Chic Hair Salon will have a wide range of services and products. We will provide quality hair services along with the most top of the line hair products. What keeps Sleek And Chic ahead of our competition is our dedication to our customers in providing long lasting hair care.  The salon will be located in East Orange, NJ 122 Main St. The salon will utilize 1,300 square ft. The location is one of the busiest streets in the town and it has easy access from all parts of the area.

“ ” Sleek and Chic Hair Salon's mission is to provide men and women with excellent hair care, amazing customer service, and products. Enhancing their looks to make them look fabulous and feel great once they leave the salon.

Market Summary  Our target market are men,women,and children of all race and ages. Sleek and Chic also wants to provide high quality and long lasting work for all price ranges.  Satisfying our customers is the main goal. When your customers are happy with their finished product they will broadcast where it was done. New clients will be referrals from our current clients, which will cause Sleek And Chic to grow..Our sales strategy will be based on interaction with all the customers. You have to make the customer feel as though it isn't all about money, its about excellent customer service.

Opportunities  Specialized hair dying  Increasing more sale opportunities  Steady growing market  Working in a growing industry such as hair salons you’re open to many opportunities to help your business. Such as expansion, more sales, and growing clientel.

Competition  The competition in this industry is based off certain factors such as:  Pricing: Pricing is based off of the quality of work.  Products: The quality and effectiveness of products.  Location  Friendly atmosphere  Sleek And Chic sets itself apart from other salons because of the services they offer. A lot of clients desire all of the services that we offer, from the styling techniques to waxing. Although we are a hair salon, we want to provide our customers with other services to make it convenient for them. We accommodate all of our customers needs, we will accomplish it to the best of our abilities.

Goals and Objectives  There are 3 major objectives to this business plan, which consist of:  Increase clientele 15% each year by advertisements, word from other customers, and promotions.  Develop a successful business and then expand within 5 years.  Start a hair care line to promote healthy hair as well as teach clients how to take care of their hair.  By our sixth year Sleek And Chic would like to open another shop on the west coast.  State specific, measurable objectives for achieving your five-year goals.

The Team  Sleek And Chic Hair Salon is a publicly held franchise. The salon is privately owned by Keyyanah Gourdine and Kelly Jackson. Keyyanah comes from a business background and also studied cosmetology. She earned her bachelors degree in organizational management while obtaining a cosmetology license.  Kelly studied cosmetology at The Academy Of Cosmetology NYC. Then she went on to work Take Over Hair Salon in Newark, NJ. Where she worked as a stylist for two years furthering her knowledge and love for hair.

The Team [KeyyanahGourdine] President, CEO [Kelly Cassaberry] President [Cliff Hill] Manager

Market Analysis

Financial Plan  I expect the salons business to grow within the first 6 months of opening. I intend to fund that growth by the sales of products and my loyal clientele that I have built through the first few months. Startup Funding Startup Expenses to Fund$10,550 Startup Assets to Fund$60,900 Total Funding Required$71,450 Assets Non-cash Assets from Startup$60,400 Cash Requirements from Startup$500 Additional Cash Raised$0 Cash Balance on Starting Date$500 Total Assets$60,900 Liabilities and Capital Liabilities Current Borrowing$0 Long-term Liabilities$30,000 Accounts Payable (Outstanding Bills)$0 Other Current Liabilities (interest-free)$0 Total Liabilities$30,000 Capital Planned Investment Owner$20,000 Owner 2$21,450 Additional Investment Requirement$0

Personnel Plan When the salon first open  One manager will be an active stylist  Receptionist, is needed to record payments and schedule appointments.  One facialist  2 part time stylists

Risks  The Risks of opening the salon is not having enough clientele to produce enough cash flow. Without the help of clientele more money would have to be funded to our salon.

Successful Business  The keys to success in our business are:  Location: Accessible location for customers.  Convenience: providing several services in one salon along with extended business hours.  Environment: Providing a safe and conducive environment to giving professional service  Reputation: As the owner and other "beauticians" we must provide wonderful personal service

Key Issues  Near term  Not receiving inventory on time  Not having your inventory on time can inconvenience the business and customers

Sales By Year

Sales, Gross Margin, And Net Profit