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BARBING SALON Executive Summary in Nigeria

Business Plan on BARBING SALON Executive Summary in Nigeria

An executive summary for a barbing salon business plan in Nigeria should highlight the salon's mission, target market, unique selling proposition, and financial projections. It should also briefly cover the management structure, marketing strategies, and operational plan. 

Here's a breakdown of key elements for the executive summary:

1. Company Overview:

• Name: State the name of the barbing salon (e.g., "Ibro's Barbing Salon"). 
• Mission: Briefly state the salon's core purpose, such as providing quality, convenient, and affordable haircuts and grooming services. 
• Location: Mention the specific location of the salon in Somolu, Lagos. 
• Target Market: Identify the target audience (e.g., adults, teenagers, and elders, or specific demographics within those groups). 
• Services: Briefly list the core services offered (e.g., haircuts, shaving, beard trimming, hair styling, etc.). 
• Unique Selling Proposition: Highlight what makes the salon stand out (e.g., exceptional customer service, modern equipment, unique ambiance, etc.). 

2. Market Analysis:

• Industry Overview:

  Briefly describe the current state of the barbing industry in Nigeria, noting its growth and potential. 
• Competition:

  Mention key competitors in the area and how the salon will differentiate itself. 

3. Management and Operations:

• Management Structure:

  Briefly outline the organizational structure, including key personnel (e.g., owner, barbers, receptionist). 
• Operational Plan:

  Mention the daily operations, including hours of operation, appointment scheduling, and customer service protocols. 

4. Financial Projections:

• Start-up Costs: Briefly mention the estimated initial investment required. 
• Revenue Projections: Indicate anticipated revenue streams and growth targets for the first few years. 
• Profitability: State the goal of achieving profitability within a specific timeframe. 

5. Marketing and Sales: 

• Marketing Strategy: Briefly outline how the salon will attract and retain customers (e.g., online advertising, social media marketing, local promotions).

Example:

"Ibro's Barbing Salon, located in Somolu, Lagos, aims to be the premier destination for quality grooming services in the area. Our mission is to provide a relaxing and stylish environment where clients can receive top-notch haircuts, beard trimming, and other grooming services. We will differentiate ourselves through exceptional customer service, modern equipment, and a comfortable atmosphere. Our target market includes adults and teenagers who value quality grooming. We project to achieve profitability within the first year of operation, driven by a strong marketing strategy and a commitment to customer satisfaction. Our team is comprised of experienced barbers and a dedicated receptionist, ensuring a seamless and enjoyable experience for every client." 

Business Plan on BARBING SALON Executive Summary in Nigeria

 

Barbing salon business plan in Nigeria – The Hair barbing salon business remains one of the rapidly growing industries in Nigeria today.  To some people, this venture is for the 3rd class citizens therefore, not a serious money making business.  Are you one of those who assume that barbers are low income earners? You are very wrong! Let me take a little of your time to show you the profits you can make if you will own and run a barber shop today.

This sample barbing salon business plan in Nigeria can be used for government and non – government business grant applications, for bank loan applications, for writing business proposals, to write business concept notes, for business grant competitions, other competitions, and so on. The barbing salon business idea is a really great business idea that will need a lot of strategic planning to start. You will need the skills and experience of a professional business consultant in Nigeria like Jude Okon to help you with implementing the business plan effectively.

BUSINESS DESCRIPTION OF THE BARBING SALON BUSINESS PLAN IN NIGERIA

Business: BARBING SALON

Industry: BEAUTY

NCS barbing salon is a standard barbing salon that will be located in a richly populated neighborhood in Festac Town, Lagos, Nigeria. We choose to open our barbing salon in this city because of the need of the services of a standard barbing salon in the neighborhood

NCS barbing salon offers services such as; cut hair for both male and female, dress hair for both male and female, groom hair for both male and female, dying/colouring of hair for both male and female, style and shave hair for both male and female. We will also retail clippers, barbing accessories, aftershave, shaving powder and so on. Aside from the fact that our barbers will be open for a minimum of fifteen hours daily, we will also offer home services to any client who would want us to come over to their house to take care of their hair. We are well trained and equipped to service the market segments that need our services.

We are in the barbing salon business to deliver excellent services to all those who will patronise our services. We will also ensure that in the line of carrying out our duty, we comply with the laws of Lagos State and also the laws of the Federal Republic Of Nigeria. Our employees are well trained and qualified to handle the wide range of barbing services. Our workforce are going to be well trained to operate within the framework of our organization’s corporate culture and also the to meet the needs of all our customers.

BARBING SALON BUSINESS PLAN IN NIGERIA

The Benefits of our Products and Services are;

– First class service and special treatment to our customers

– Top standard barbing and grooming services

– Employment opportunities

– Fair and lowest possible prices with discounts

OUR PRODUCTS AND SERVICES

NCS barbing salon is in the business of ensuring that our clients are well treated and taken care of and our services will be carried out by highly trained professional and skilled barbers who know what it takes to give our highly esteemed customers value for their money. The following are the services that NCS barbing salon will be offering

Cut hair for both male and female

Dress hair for both male and female

Groom hair for both male and female

Dye/colouring of hair for both male and female

Style hair for both male and female

Sale of clippers and barbing accessories

Sale of aftershave and shaving powder

Home services

KEYS TO SUCCESS

The keys to the success of the barbing salon business plan in Nigeria are as follows;

– Recruit only qualified and skilled barbers and hair stylists to man various job positions in our barbing salon

– We shall maintain a customer centric company culture

– We will ensure that we follow due process in starting up the business

– We are able to deliver consistent quality service

– Our barber shop facility is well positioned ( centrally located) and visible, we have enough parking space with good security

OBJECTIVES OF THE BARBING SALON BUSINESS PLAN IN NIGERIA

The objectives of the barbing salon business plan in Nigeria are as follows;

– To build a business that will survive off its own cash flow without the need for injecting finance from external sources

– To deliver services whose main goal is to exceed the customer’s expectations

– To establish our brand in the hearts of our customers

– To achieve net profit in year one, increasing in year two, by containing costs and meeting sales targets

GOALS FOR THE BARBING SALON BUSINESS PLAN IN NIGERIA

The following goals have been set for the barbing salon business plan in Nigeria;

– To open new branches in other parts of Lagos

– To become one of the leading barbing salons in Lagos

– To employ at least thirty people

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BARBING SALON BUSINESS PLAN IN NIGERIA

VISION FOR THE BARBING SALON BUSINESS PLAN IN NIGERIA

Our vision is to become the number one choice when it comes to barbing salon in the whole of Festac Town, Lagos State, and also to be among the top twenty barbers shop in the world within the next ten years

MISSION FOR THE BARBING SALON BUSINESS PLAN IN NIGERIA

We are in the business to establish a first class and standard barbing salon that will take of both highly placed clients (celebrities, public figures and politicians) and lowly placed clients as long as they can afford our services. We want to become one of the leaders in the barbing salon Industry in Festac Town, of Lagos State.

MANAGEMENT TEAM OF THE BARBING SALON BUSINESS PLAN IN NIGERIA

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The management team of the barbing salon business plan in Nigeria is made up of the following people:

Maurice Ikpe: He is the founder and owner of the business and has over fifteen years of experience as a barber. He is the personal barber to a handful of celebrities and politicians

Jude Okon: ( B.AGRIC, MBA, and PMP). He has over fifteen years of experience in business management, financial management of business and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC), of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner of the compan

We brought to the business;

– Technical and Practical experience in the barbing salon Industry

– Educational skill and knowledge

– The capacity to consistently deliver outstanding services

– Top quality barbing and grooming services with a sound understanding of the market trend

– Our staff bring operational, promotional and technical skills to the business

BARBING SALON BUSINESS PLAN IN NIGERIA

MANAGEMENT EXPERIENCE GAINED FOR THE BARBING SALON BUSINESS PLAN IN NIGERIA

With over fifteen years of experience in the barbing salon Industry and through having had numerous exposure to the business and technical aspects of services, I have been able to master the technical requirements, financial management, staff recruitments and the organizational skills which will be necessary to give us a good commendation from our clients. My managerial skills has also helped me to put up a good workforce for over two years and in coordinating the teamwork in most aspects of the company.

I am the CEO of the company, and I will be responsible for monitoring and managing the day to day activities of the company

MATERIALS AND EQUIPMENTS REQUIRED FOR THE BARBING SALON BUSINESS PLAN IN NIGERIA

The following materials and equipments are required for the barbing salon business plan in Nigeria;

Barbing facility, barbing equipments ( clippers, combs, etc), aftershave, balm, shaving powder, electric power generator, CAC registration No. among others

COMPETITOR ANALYSIS FOR THE BARBING SALON BUSINESS PLAN IN NIGERIA

We get our huge clientele for the following reasons:

The ability to deliver quality barbing service

We are open for a minimum of fifteen hours a day and seven days a week

We provide first class service to our customers

Fair and best possible price

BARBING SALON BUSINESS PLAN IN NIGERIA

Our three main competitive advantages are;

We provide first class service to our customers

The ability to deliver quality barbing service

Fair and best possible price

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