Beauty Salon Financial Plan
Download Our Free Beauty Salon Financial Plan Today
Our beauty salon financial plan has everything you need to budget for your beauty-related business. Get it free today.
Manage Your Beauty-Related Business’s Finances With Confidence
Opening up your dream beauty salon is a major accomplishment, but managing your new business’s finances can be a bit more challenging. If you are new to running a business, it can feel overwhelming, and you might not know where to begin. You might even still be in the planning stages and not even know how to start a beauty salon or have a location yet.
That’s why we’ve created a free beauty salon financial plan to help you get started. Use it to help you manage your barbershop, hair salon, nail spa, or any other beauty-related business. Download it today!
About Our Beauty Salon Financial Plan
Our beauty salon financial plan has got everything you need to track expenses and predict future income. It includes separate sheets for your assumptions, a yearly overview, monthly and annual profit, and loss statements, monthly and annual cash flow statements, and more. This allows you to figure out how much income you need to break even and reach your financial goals.
What You Need to Know
If you are new to running a business, it can be challenging to keep track of all the accounting terms you kneed, but once you get the hang of it, you’ll be a pro in no time. Here are some that will come in handy when using our financial plan.
Profit and Loss Statement
A profit and loss statement is essential for all businesses. It shows how much money you are bringing in from clients, aka your revenue, and how much money you spend on your expenses. Once you have added your revenue and subtracted your costs, you will get your profit for that month or year.
Cash Flow Statement
Your cash flow statement is similar to a profit and loss statement, but it keeps track of the cash that flows in and out of your business. Your cash flow statement can help you determine how to re-invest your profits back into your business.
Your balance sheet is where you keep track of all of the assets related to your business. In a beauty business, this can be your salon chairs, equipment, and even your shop if you own the building. It also shows you how they are depreciating, so you can be sure to budget the money you need to replace them when they are worn out.
Your sales forecast takes your past sales into account and how quickly they are growing. This allows you to determine how much money you could be making in the future so you can make wise investments into your salon, like bringing in an additional stylist or investing in more chairs for other stylists to rent.
This statement shows how much money you need to break even on the original amount of money you invested in your business. It also keeps track of your fixed costs like rent and employee salaries while also budgeting for variable expenses such as supplies.
While this is the first sheet in our free financial plan, it summarizes the results of your financial plan and gives you a set of milestones to reach as you watch your business grow. It can help you stay focused on growing your business and staying on track.
Plan to Succeed
When running your business, many unexpected expenses can arise. That is why it is so important to have a solid financial plan. Your financial plan can help you budget for some of these expenses so they don’t derail your efforts to grow your business.
Perfect for Any Beauty Business
This plan applies to any business, whether you are opening up a high-end spa or local barbershop. It is perfect for a new business owner just starting out or an experienced shop owner looking for a better way to manage their finances. We’ve even included some instructions in the planner itself to help guide you should you get stuck.
How to Use Our Financial Planner
Step 1: Download Your Planner
We’ve made it easy to get your planner. Simply click on the link below to access your planner; no email required! Then download as many copies as you’d like for each additional month.
Step 2: Track Your Expenses
Once you have downloaded your guide, you can begin to use it right away to track your progress. Some of the terms might be unfamiliar, so we’ve added some notes to help you navigate each sheet.
Step 3: Watch Your Business Grow
Your business will continue to grow and evolve. Be sure to check in with your financial planner at least once a month to ensure that it is headed in a positive direction.
Step 4: Create a Free Spreeberry Account
If you don’t have a beauty salon or business yet, sign up for an account on Spreeberry to browse local listings of businesses for sale. Creating an account is free and only takes a minute. Open the shop of your dreams today!
What Is Spreeberry?
Spreeberry offers a wide selection of services for people who work in the beauty industry. We have free resources to help support your goals, so you have everything to run a successful business. We also have an extensive national listing service where you can buy and sell beauty-related businesses, find local chairs to rent, or connect with talented stylists to work in your shop.
Get Even More Free Resources for Your Beauty-Related Business!
If you own a salon, we are committed to providing you with everything you need to succeed, and we are constantly adding new resources to help your business grow. Once you have everything you need, sign up for a free account to start finding new opportunities in your area.
One of the most important things to do when starting a beauty salon is creating a financial plan. Here is a free financial plan template to use as an example of what a beauty salon financial plan could look like.
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