A Business Plan for Salon Ownership - PowerPoint Presentation

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Uploaded On 2019-01-20

A Business Plan for Salon Ownership - PPT Presentation

Cosmetology II Copyright Copyright Texas Education Agency 2015 These Materials are copyrighted and trademarked as the property of the Texas Education Agency TEA and may not be reproduced without the express written permission of TEA except under the following conditions ID: 747178

education texas 2015 agency texas education agency 2015 reserved rights copyright business salon plan materials tea service public ownership

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Slide1

A Business Plan for Salon Ownership

Cosmetology IISlide2

Copyright © Texas Education Agency, 2015. These Materials are copyrighted © and trademarked ™ as the property of the Texas Education Agency (TEA) and may not be reproduced without the express written permission of TEA, except under the following conditions:

1) Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from TEA.

2) Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only, without obtaining written permission of TEA.

3) Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way.

4) No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged.Private entities or persons located in Texas that are not Texas public school districts, Texas Education Service Centers, or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from TEA and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty.For information contact: Office of Copyrights, Trademarks, License Agreements, and Royalties, Texas Education Agency, 1701 N. Congress Ave., Austin, TX 78701-1494; phone 512-463-7004; email: copyrights@tea.state.tx.us.

2Slide3

The Salon Business

Rent or Manage

4Slide5

Booth/Chair Rental

Renting a booth - Advantages

A cosmetologist:Becomes his or her own bossIs responsible for his or her ownAccounting

ClienteleRecord keepingSupplies Pays a weekly fee to salon owner

Rents a work station in a salon from a salon owner

Renting a Booth - Facts

A cosmetologist must: Budget for advertising

Carry adequate insurance HealthMalpractice Collect all service feesComply with all IRS obligations for independent contractors

Create professional materials

Business cards

Service menuKeep records for tax purposesPay for continuing education coursesPay taxes, including Social SecurityPurchase all supplies Track and maintain inventoryUse personal phone for bookings7Copyright © Texas Education Agency, 2015. All rights reserved.Slide8

Managing a Salon

Management opportunities:Assistant managerDepartment headEducator

General managerInventory managerSpecial events manager

Business Skills Needed

AccountingMath Profit and loss statementsMarketing

AdvertisingPromotions Public relations

Factors to Consider

10Slide11

Decisions

Business NameLocationEasy accessGood visibility

Handicap accessHigh trafficSufficient parkingTimelineWritten agreements

Employee and vendor contracts

Lease

Types of Ownership

12Slide13

Salon Ownerships

IndividualSole proprietor

PartnershipCorporationFranchise

Owning a Salon

Brand identityLease or rental agreementInsuranceFire

LawsuitsTheft Operations

Business Records

15Slide16

Business Plan

Include:Executive summary

Vision statementMission statement

Organizational plan

Marketing plan

How to Write a Business Plan

(click on link)

(image from video)

Record Keeping

Bookkeeping Income and expensesBusiness taxes

LocalState Federal Inventory

Service

Why study the business of salon ownership?

What are the advantages and disadvantages of a booth rental?

Does a management position interest you?

Why are business skills needed to operate a salon?

Name three decisions to consider before opening a salon.Which type of salon ownership is the best one?What other factors do you need to consider before you open a salon?Is a business plan necessary?20Copyright © Texas Education Agency, 2015. All rights reserved.Slide21

References and Resources

Images:Shutterstock™ images. Photos obtained with subscription. (Slides 1, 3, 4, 5, 6, 8, 9, 10, 11, 12, 13, 14, 15, 16, 18, 19, 20, 21)Textbook(s):

Frangie, C. M. (2012). Milady standard cosmetology. Clifton Park, NY: Cengage Learning.Backe

, J. (2016).

Milady standard cosmetology

. Clifton Park, NY: Cengage Learning.Websites:Texas Department of Licensing and RegulationsThe leader in public service, customer satisfaction, and innovationhttp://www.tdlr.texas.gov/index.htmYouTube™:How to Write a Business PlanInterested in starting a business plan? Developing and maintaining your business plan is like your roadmap to entrepreneurial success.https://youtu.be/SMr_uLZV-eMCopyright © Texas Education Agency, 2015. All rights reserved.

A Business Plan for Salon Ownership - PowerPoint Presentation

A Business Plan for Salon Ownership - PPT Presentation

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