Swot Analysis Essay
The business plan for Hair and Beauty salon has a strong financial plan. Graphs are used to illustrate how money will be spent and how much money will be made. Graphs also show from month to month for the first year and yearly for the first three years. The layout of the plan is very simple to understand and is organized nicely. The plan also speaks about what will set this particular salon aside from all of the other salons. This new business is attempting to bring high quality to customers without having to drive up north and spend tons of money. Also, this business of a salon and services that it offers are ones that are highly taken advantage of these days. This new salon plans on offering several services at one …show more content…
The plan did mention training their employees regularly, although it did not mention a plan to increase efficiency to be able to lower costs in the future. It will be important in increasing efficiency and lowering cost as this will help the business stay afloat, especially in this economy. It would have been good to show how the managers will work to lower costs in the future as other salons/companies are currently doing in this economy. There was mention about adding more stylists in the future, one more in the second year to be exact, but no plans for expanding or possibly opening a second location in the far future. Perhaps, opening more salons is not in the plan in the near future.
Surprisingly the plan did not elaborate on the possible threats the business might face in the different aspects of the salon. The plan mentioned how they plan on setting themselves apart from other salons by selling high end products and providing more quality at a lower price for those unable to afford to go to a higher end salon. I did not see a mention in the plan about the