Business Plan For a Beauty Salon – Cash Flow Decisions

Creating a business plan for your beauty salon presents the perfect opportunity for you to create a functioning cash flow statement (sometimes called the statement of cash flows). This will allow you to make key decisions about cash flow going forward.

Creating the Cash Flow Statement

It is highly recommended to start with an Excel template or financial model example of some kind for your salon’s cash flow statement. It need not be an model specifically tailored towards a beauty salon, but should be for a similar business (i.e., one that makes revenues through services and product sales, pays rent for a location, etc) so that minimal customization is required. Starting with a template can save a great deal of time in the creation of the statement.

Three Sections of a Cash Flow Statement

This will describe cash inflows and outflows in three areas: operating activities, investing activities, and financing activities.

Operating activities include cash brought in from customers in the form of sales and cash paid out for operating expenses. This will generally represent the highest inflows and outflows on the cash flow statement and should result in a positive number each month for a profitable company.

Investing activities do not mean the company’s purchase of stocks or bonds (although this kind of rare activity would be included here). They are generally activities where the salon invests in itself. Whenever a capital purchase of an asset is made (equipment, leasehold improvements to the salon, furniture, etc.) the payments made will represent a cash outflow. If these assets are ever sold off, the money brought in will represent a cash inflow here. Generally, a functioning company will have negative cash flow in the investing area.

Financing activities are related to the funding of the company by investors and lenders. When funders put money into the company in the form of equity or debt capital, this represents a cash inflow here. When dividends are paid out, shares are bought back from equity investors, or lenders are paid back their loan principal, financing shows cash outflows. Note that paying interest on loans represents an operating activity in the United States.

Cash Reserves

By seeing how low the ending cash balance each quarter, month, or week drops to, you can determine what size cash reserves the company will need. Make sure that cash reserves cover all negative balances as well as at least thousands of dollars more as a cushion to prepare for cost overruns or revenue shortfalls.

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The Purpose of Wearing Beauty Tunic While Working In A Beauty Salon

Can you imagine getting in a salon or spa and not knowing who the staff is because everyone seems to wear different clothes? It could be troublesome. That is why many store owners make sure their workers wear something that makes them easily identifiable. Wearing uniform tunics when inside working premises is part of making customer experience easy and comfortable. Clients can get disappointed when they can’t tell store clerks and customers apart. That is the reason why people in a spa or beauty clinic should wear beauty tunics and sales workers must wear uniform shirts to make them recognizable.

Beauty tunics are usually worn by people working at salons and beauty spas. In other establishments, wearing of tunics may not be that necessary. Some uniforms are also not too necessary but many garbs are actually worn not just for purposes of identification but also for purposes of function. For example, chefs wear coats that make working in the kitchen as convenient and comfortable as possible. On the other hand, there are some instances where uniform tunics are not much of a requirement.

What people in a beauty spa know is that a beauty tunic allows a spa or beauty clinic worker to exploit convenience and freedom of movement. Many tunics worn by people in these establishments are made of washable material that is easily cleaned. Also, tunics give a comfy feel without unneeded tightness as they usually fit just right.

Like chef coats, tunics for beauticians are not the same everywhere. A salon owner may want a unique set of uniform for his or her workers, so they look different from those at the other salons. Salons are places that can get messy and if people wear their everyday clothes, they might run out of clothes to wear after a month. The good thing about beauty tunics is they are well designed to withstand the tough environment inside salons which are places that could give your clothes unwanted stains each day.

Aside from purposes of recognition and easy maintenance, tunics for beauticians allow them to look decent and professional. You may not pay much attention to someone working on your hair who isn’t wearing the proper garb. Clients expect that the people working on their nails and soles don the right attire.

Gone are the days when salon tunics just come in plain colors and un-embellished fabric. Today’s professional tunics are made with such artistry that one can wear them without hesitation. Being in uniform at beauty salons isn’t a daunting task anymore and many women and men in salons have already known this. Tunics they wear have embraced modern trend of stylishness, sporting colors that are inviting. Nonetheless, a spa center manager can always opt for the classic design without much interplay of colors. In beauty spas, workers are usually seen in simple garbs that come in one color (such as magenta, black, brown, etc) with some accent. It is common to find the spa logo on the …

6 Important Things You Need in Beauty Salon Supply

It's easy to go to any beauty salon supply shop and get the things you need for your salon. But if you want to beat your competition across the street you need more than better stylists. You need all the right equipment. And in most cases, you have to offer something more than hair care. If you are setting up your own salon, here is a list of beauty salon supplies that you cannot be without. In this article, we shall discuss some of the more important things that you need in a beauty salon.

1. You need beauty salon furniture like multiple, good looking and very comfortable couches. You don't want your clients to feel uncomfortable or uneasy. And if you offer massages and other beauty treatments besides just hair, you want your client to be relaxed. In other words, the couches can define a salon, so make sure you get this right.

2. Chairs are the next important thing. Chairs are generally needed for two things: first to treat customers and second for those customers who are waiting. Like couches, chairs need to be comfortable and convenient. Uncomfortable or hard chairs might turn off your customers. It's inevitable that sometimes your customers will have to wait. Don't make this a bad situation by making them uncomfortable as well.

3. There are some things in a salon that are needed continuously. Some of these include potions and lotions that are to be used regularly, almost everyday. In addition, some things like machines, blow dryers, scissors and towels that are to be used by the staff have also to be stored. Therefore a salon needs to have plenty of storage space.

4. A lot of customers who come to the salon look for anti ageing treatment. Yes today's salons are about more than just styling, cutting and coloring hair. This can be done with the help of microdermabrasion machines. Skin issues like regeneration are also solved by having these machines. Microdermabrasion helps to bring up the youth of the skin by taking away the upper layer of the dead skin. This kind of treatment is mostly done on the face where it is the most effective. That is why they are so popular in salons.

5. Customers also come to the salon because they need to remove unwanted hair. A depilator helps to do this. If you are thinking of having a depilator as part of your beauty salon supply, you should give a thought to the Intense Pulsed Light that is used by some depilators. These helps to kill the hair follicle completely. Thus hair reduction is even more effective.

6. Body and face toning machines are also important beauty salon supplies. These provide a "non invasive facelift" which makes the skin look amazing by improving circulation. They use a micro current to achieve this and are quite a popular choice among customers.

These are some of the most important things that should be part of your beauty salon …

9 Top Uses For Excel in a Beauty Salon

Every business owner knows a little about Microsoft Excel. It's the spreadsheet program that most of them use to keep track of the numbers their business generates. But that's far from all it can be, especially if you're in the beauty industry.

Here are nine things that a salon can do with Excel; some are common to any business, but a few are unique and apply directly to the beauty business in some exciting ways.

Financials
The most common use of Excel worldwide. Record expenses and income, find what you do that generates most of your revenue and what you pay for that costs the most. Using Excel to track financials is the beginning of any effort to improve those numbers and grow your bottom line.

Inventory
Beauty salons go through a lot of different products and tools at differing rates. Tracking your inventory through Excel not only allows you to see when something needs to be ordered, but can project future orders and thus allow you to budget for larger orders ahead of time.

Tracking Trends
When it comes to keeping track of trends, Excel is limited only by your imagination and how long you're willing to spend putting data in. At the minimum, you can put in your customers and income over a year and get a general overview – but you can get much deeper and put in details like a specific day's weather patterns, whether or not a relevant event was happening in town, and who was working that day. The results can tell you quite a bit about how to accurately anticipate business.

Scheduling
It might not use the advanced mathematical ability of Excel, but the basic ability to manipulate colored cells representing 15-minute blocks of time makes Excel an easy and effective way to make sure that you have all the employees you need during every phase of your day .

Client Records
Keeping records of your client's procedures allows you to easily call up a given clients' favorites when they walk through the door – and doing it in Excel means you can also sort by client, procedure, or product in order to see what is the most popular business-wide.

Task Lists
Every business has things that have to get done in a particular order before they can open for business and before they can go home at night. By creating a simple Excel spreadsheet that lists those tasks, you can create a printable chart that can be checked or crossed off at each open and close to make sure that everything gets done perfectly every time.

Tips
Excel can easily keep track not only of how much hourly pay your workers are earning, but the tips that are being generated by each worker as well. If you have a policy that involves tip-sharing, or you just want to know who the customers appreciate the most, having that data at your fingertips is extremely useful.

Appointment Tracking
Akin to using Excel for scheduling, …

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