NJ Group Considers Investing In A Barber Shop In Denver Colorado
The future looks bright for a Barber Shop in Denver Colorado. A New Jersey company is contemplating investing in a chain of barber shops and this Colorado men’s salon is apparently on their radar. So what goes into investing in a men’s barbershop? Here are a few things to consider if you are thinking about opening your own shop. I like to think about haircuts like an I think about birth and death, they are industries that will never go away. There is always a need for professional services when it comes to these industries. Since the requirement for haircuts is stable — and quite nicely immune to economic ups and downs — the barbering profession is proving to become recession-proof. The number of licensed barbers has increased over the last few years by about 10 percent, from 225,000 to 245,000, in a very short period of time. Those numbers look and sound good, and would be appealing to any investor looking to franchise a business in Colorado. Here are some business plan ideas you can bring to the table if you are seeking out a venture capitalist to help franchise your barber shop.
Write this section last, once you’ve completed your preparation, but put it first in the company plan. The reason behind this is that to be most effective, the executive summary needs to contain your vision for your barber shop and each major thing about your own success and preparation if you have an existing barber shop. The executive summary should provide highlights concerning the barber shops market share locally and how that can be improved, the selection of services that your shop will provide, and also the growth potential for the company. Investors will want to know this, so be sure to include it.
Explain to the investors how you choose locations and how the business benefits from that decision. Should you base your location decisions on the pedestrian traffic, or researched detailed info from the regional Chamber of Commerce or property managers, clarify that process and how it can be duplicated from state to state. If you’re leasing the property, disclose the terms and conditions of your rental. If you own your barber shop then let that be known as well as any existing debt that may be part of that investment. Mention both the negative and positive attributes of this location and how other locations may benefit from alternate research before opening up another barbershop in Denver Colorado. List hours of operation, the services offered, as well as any merchandise that could be sold (trimmers, hair gel, shirts). Describe the relationship that the barbers will have with the company, are they hourly employees or independent contractors? The more details you can provide about your barber shop the better.
Inform the investors about your own strategy for bringing in clients and sustaining a profitable client base. Are you going to be marketing locally through print and local radio stations, or are you going to focus on online marketing strategies? If your marketing strategy consists of effective methods that set your shop apart from the rest then make that known. Barbershops in Denver, Colorado have had a tendency in the past of being an all-male environment if you plan on having innovating that with female barbers then let that be known. You never know, this could be something simple that an investor finds value in. Talk about your pricing plan, advertising plan, and some other public relations methods you intend on using. Identify your competition and describe how your services will be much better or different from theirs. Let them know what market share you expect to take.
Let them know about you, your experience in management and running a business. Include information about the potential barbers you have in place and how they will be managed. What barbers will be operating in the store, your accountant, along with your lawyer. Release the names, company names, and addresses that are needed for their accountants and the lawyers.
Create a balance sheet dated as of your opening day and an income statement projection for the forthcoming calendar year, broken down by month. Insert a balance sheet, income statement and cash flow statement to the company plan every month. Include your own personal financial statement in case your lien, spouse, or provider requires the info. If one of your barbers are in a partnership with you, include their financial information too.
Note: There is a barber shop in Denver Colorado that offers recreational marijuana. Read more about the legalization of Marijuana and CBD oils here.
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