Hair salon business plan
11.0 EXECUTIVE SUMMARY
This business plan is prepared to obtain financing in the amount of $10,000 to complete the service development, set up operations base, and implement an aggressive sales and marketing program.
The Hair Salon is a proposed new business. Principal has developed the skills and knowledge to manage and provide hair salon services for Fort Frances, and the surrounding area. The total market potential for the first year is $1,746,675. The business will be profitable in the first year of operation and conservatively expects to achieve sales of $53,392 with a net income of $12,352 by the end of the first year.
The market for this new business will be Tribal First Nation where the business will be located, Rainy River and Nicickousemenecaning First Nations, Fort Frances, Alberton and La Vallee Townships, Emo and the surrounding area. The market research has revealed a lack of hair salon services located within Tribal First Nation.
The Hair Salon is proposing that Indian Affair and Northern Development (INAC)’s Opportunity Fund program provide a grant contribution of 40 percent of the capital and working capital costs. Principal will contribute 40 percent cash equity which is consistent with INAC’s program mandate. The remaining 20 percent will be in the form of commercial financing from the Royal Bank of Canada. The business will be self-sustaining after the first year of operation. The business can be fully operational eight weeks after financing has been arranged.
2.0 BUSINESS HISTORY AND ORGANIZATION
The principal is Principal, a longtime resident of the Tribal First Nation. Principal is a status Ojibway from the Tribal First Nation, near Fort Frances, Ontario. He is proposing to establish an hair salon business. The form of business ownership is a sole proprietorship, with Principal as the proprietor.
The company’s business address is:
123 Main Street
Fort Frances, Ontario
P9A 3M3
This business plan is prepared to obtain financing in the amount of $10,000 to complete the service development, set up operations base, and implement an aggressive sales and marketing program.
The Hair Salon is a proposed new business. Principal has developed the skills and knowledge to manage and provide hair salon services for Fort Frances, and the surrounding area. The total market potential for the first year is $1,746,675. The business will be profitable in the first year of operation and conservatively expects to achieve sales of $53,392 with a net income of $12,352 by the end of the first year.
The market for this new business will be Tribal First Nation where the business will be located, Rainy River and Nicickousemenecaning First Nations, Fort Frances, Alberton and La Vallee Townships, Emo and the surrounding area. The market research has revealed a lack of hair salon services located within Tribal First Nation.
The Hair Salon is proposing that Indian Affair and Northern Development (INAC)’s Opportunity Fund program provide a grant contribution of 40 percent of the capital and working capital costs. Principal will contribute 40 percent cash equity which is consistent with INAC’s program mandate. The remaining 20 percent will be in the form of commercial financing from the Royal Bank of Canada. The business will be self-sustaining after the first year of operation. The business can be fully operational eight weeks after financing has been arranged.
2.0 BUSINESS HISTORY AND ORGANIZATION
The principal is Principal, a longtime resident of the Tribal First Nation. Principal is a status Ojibway from the Tribal First Nation, near Fort Frances, Ontario. He is proposing to establish an hair salon business. The form of business ownership is a sole proprietorship, with Principal as the proprietor.
The company’s business address is:
123 Main Street
Fort Frances, Ontario
P9A 3M3