A Proven Marketing Plan for Hair Salons
When you’re hoping to establish your new salon as a “go to” location and grow your business, you need talented stylists, a good location, and an effective marketing plan, not to mention sufficient financing or investment. If you can’t fund the startup yourself, you’ll need an outstanding business plan, as well as an exceptional marketing plan to attract investors or bank loan approvals.
But, your marketing plan is vital to have your salon “hit the ground running.” You want to avoid an extensive break-even period. Here is a structure of a marketing plan that works.
Hair Salon Marketing Plan Design
Summarize your stylist and business experience. State the obvious: You realize your marketing plan is the engine that will drive your salon, that it will be full-service, and outstanding services will be priced competitively.
Briefly mention the “audience” (client-type) you will serve. State that you’ve analyzed the market, and there’s room for an additional premier salon. Don’t be shy – you intend to quickly place your new salon in the outstanding category.
Describe the extent of your research to identify the most likely clients you’ll attract. In this section, you should tell readers that you’ll go further to use this compiled information to thoroughly understand who you will serve, the group’s particular needs, and how your salon will serve them better than your competition.
Show your knowledge of the local market – include colorful graphs that graphically display the demographics of your market area. Similarly show your growth plan and the estimated results.
Display that you’ve “done your homework,” and fully understand your potential market mix. Quote as many statistics as you have. Always note your sources for statistical data, so you and readers know this data is from respected, objective 3rd party compiled facts.
Research current trends in salon usage so you are at expert level. If there is recent trending consolidation (shrinking) or is expansion (growing number of hair salons). Display your research and knowledge of market growth or shrinkage. If the market is trending down, provide things you plan to counteract the shrinkage, not for the whole market, but for your corner of it. If the market is in an upward spiral, explain how you will take advantage of new opportunities to grow your customer base.
SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis
It’s always to include a SWOT Analysis in your marketing plan so you can “show off” your understanding of your local market and your place in it. The key is to honestly assess your strengths and weaknesses to impress readers and provide an accurate roadmap for you to follow.
Competition and Prospect Behavior Patterns
Will your clients primarily be men or women? If it’s men, realize that price and convenience are the drivers. When it’s women, they care more for the personality and technical expertise of your stylists.
What is the number and quality of your local competition? Answer these questions with displays of your diligent research and depth of knowledge of your competition. “Keep your friends close” but “keep your enemies closer.
The Key Factors of Success
Typically, displayed as bullet points, these keys should number 3 or 4 important significant points.
Your Marketing Strategy
Outline and/or explain the strategy you will use to attract and retain clients. If possible, include a backup strategy you’ll use if the preferred strategy achieves less than optimum results. It’s not critical that you choose personal word-of-mouth, digital, or out-of-the-box marketing ideas.
Social media, like Facebook, can be quite effective in attracting clients. Personal referrals are the most valuable, but your salon must perform first.
Your marketing plan is most dependent on your research and understanding of the local market. Thoroughly understanding your competition’s strengths and weaknesses is a must.
Since you’re not marketing globally, you needn’t spend valuable time studying the world market, but you must become an expert for your local market. If you do, your marketing plan will succeed and your salon will prosper.