Barber Shop Business Plan Template

If you want to start a barber shop business or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their barber shops.

How to Write a Business Plan for a Barber Shop

Below are links to each of the key elements of a barbershop business plan template:

Executive Summary – The Executive Summary serves as your elevator pitch. Condense your entire business plan into a compelling overview that highlights key points like your business concept, target market, financial projections, and funding requests.
Company Overview – Introduce your barbershop with a brief overview. Detail your business structure, mission, vision, and core values. Outline your business model, styling and men’s grooming services and retail products offered, and location.
Industry Analysis – Dive into the barbershop industry. Research industry trends, local market trends, growth potential, and economic factors impacting the industry. Utilize resources like IBISWorld or industry-specific reports.
Customer Analysis – Identify and understand your target customers. Create detailed customer profiles, and analyze their needs, customer preferences, and behaviors. Conduct market research to validate your target market.
Competitive Analysis – Evaluate your competition (other barber shops and local businesses offering similar styling and grooming services). Assess their strengths, weaknesses, target market, pricing, and marketing strategies. Identify competitive advantages to differentiate your barber shop.
Marketing Plan – Develop a comprehensive marketing strategy that will attract customers to your new barber shop. Outline your target audience, branding, pricing strategy, local advertising, public relations, promotions, and digital marketing efforts.
Operations Plan – Detail your barbershop’s daily operations. Describe your shop layout, equipment, staffing requirements, hiring and training procedures, inventory management, and supply chain.
Management Team – Introduce your management team. Highlight the experience, skills, and roles of key management personnel including management structure. Demonstrate your team’s ability to lead the business successfully.
Financial Plan – Create a detailed financial plan. Include income statements, balance sheets, cash flow projections, break-even analysis, and funding requirements.
Appendix – Provide supporting documents. Include market research data, permits, licenses, leases, resumes, and any additional relevant information.

Barber Shop Business Plan FAQs

What Is the Easiest Way to Complete My Barber Shop Business Plan?

Growthink’s Ultimate Business Plan Template allows you to quickly and easily complete your Barber Shop Business Plan.

Where can I download a Barber Shop Business Plan PDF?

You can download our Barber Shop business plan PDF here. This is a comprehensive business plan template you can use in PDF format.

What is a Barber Shop Business Plan?

A solid business plan provides a snapshot of your barber shop as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes a marketing plan and market research to support your plans. Your comprehensive plan should also include a full financial model including income statement, cash flow statement and balance sheets.

Why Do You Need a Business Plan for a Barber Shop?

If you’re looking to start a barber shop or grow your existing barber shop you need a business plan. A successful barbershop business plan will help you secure funding, if needed, and plan out the growth of your barber shop in order to improve your chances of success. Your own barber shop business plan is a living document that should be updated annually as your company grows and changes.

What Are the Sources of Funding for a Barber Shop?

With regards to securing funding, the main sources of funding for a barber shop are bank loans and personal savings. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a barber shop is personal savings. Other funding options are credit cards, crowdfunding and angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Start Your Barber Shop Plan Here