Starting a small business is always risky, and the chance of success is slim. According to the U.S. Small Business Administration, over 50% of small businesses fail in the first year and 95% fail within the first five years.
According to Dunn and Bradstreet the primary reasons for failure vary, but all of the reasons come under the category of poor planning. You are a part of the one of the most competitive Industries in the world. Your management decisions will decide whether your Salon survives or thrives in the face of increased competition.
The most important benefit of a business plan is that it sets the stage for the future of your Salon as you want it to be positioned in the marketplace.
A business plan will make it easy for your banker/investor to take action as he/she gains insight into the details of your business and the goals that you have outlined. Potential investors can review your plan and decide whether or not to make an investment based upon the risk.
The following links are for the leading business plan templates in each industry. After clicking on the link you will be taken to a different site to learn more details about the business plan templates.
* Ice Cream Business Plan
* Ice Cream Truck Business Plan
* Coffee Shop Business Plan
