December is “Write a Business Plan” month. When you first opened up your salon suite business, you should have already written one but it is important to update every year with a list of your goals and how you will accomplish each goal. It is important to adapt your plan to what is or is not working in your business. Entrepreneur.com lists several tips on how to write your business plan. With the new year approaching, updating your business plan and adapting to what your clients would like to see from you could really help to increase your sales in 2020.
Updating Your Business Plan for 2020:
- Talk to your clients and social followers. What are they looking for? Is there a new service you could offer? New products? What do they love about what you offer? What do they wish you offered as a stylist, esthetician, nail technician, etc.
- Review what worked for you in 2019. What products did you sell out of? What services do you typically do more often? What brings in the most sales into your salon suite business?
- Plan to review monthly what is selling the most for your salon suite business. “A good business is never done.” Plans are about your future goals and sometimes that doesn’t work out the way we want it to. It is important to reflect, adapt and move forward.
Include the following outline in your business plan:
- Trend Analysis
- Market Research
- Marketing Planning
- Long Term Goals
- Development Strategy
- Sales Projections