Business Plan

Cosmetology Business Plan

Developing a business plan

Conduct a feasibility study to begin developing a plan for a new business. Your study will help you forecast the potential for success of the business. This study will become part of your business plan which you will use to justify your proposal to lenders.

A basic business plan includes the following elements (.pdf from Small Business Resource Center).
[Library Resources to use for each element].

Name and Type of Business* [SBRC, IBIS World]
Description of Product/Service* [IBIS World]
Business History & Development*
Location* [Reference USA]
Market Analysis* [Business Decision]
Competition* [Reference USA & Business Decision]
Management* [SBRC]
Financial Information
Business Strengths & Weaknesses
Business Growth

Example Business Plans

These business plans and many more are available in the Small Business Resource Center (SBRC), below. These plans are from real U.S. companies.
Salon Flora
Epiphany Salon
The Clubhouse: Men's Salon & Spa

Information Resources

Illinois Department of Commerce & Economic Opportunity (DCEO)
This very useful collection of publications and guides will help you develop a small business plan and provides information on business in Illinois. Especially helpful: Step-by-Step Business Plan Workbook
Business Decision
Use this tool to assist development of business, strategic, and marketing plans and to conduct demographic analyses by geographic area. Use this tool to evaluate potential sites for new businesses, analyze trade areas, evaluate market penetration, perform competitive analyses, and more.
IBIS World
Reports on industries. Provides an overview of industries. Includes a definition, the industry supply chain, main activities, and similar/related industries. Also includes helpful details like jargon used in the industry and a glossary. Example IBIS report on the hair and nail salon industry in the U.S.
Small Business Resource Center (SBRC)
The SBRC will guide you to information on all of the major considerations you must make when considering starting a business: Planning, Funding, Starting, and Managing. It provides sample plans from real U.S. businesses, market analysis information, news articles, encyclopedias, directories and more.
This site is the national information clearinghouse of the U.S. Small Business Administration and state agencies that are part of the SBA network. Includes information on all aspects of starting and running a small business. Includes market research information, industry information, and much more. Example
report:Beauty Salon Report.
Reference USA
ReferenceUSA is the yellow pages on steroids! Use ReferenceUSA to find competing companies in your geographic area. It is also a great tool for job-searchers. Provides U.S. company information searchable by name, address, ZIP code, SIC code, and yellow page directory listing. Allows 300 prints or downloads per search.