OL-317 Final Project4-2 Final Project: Business Plan Milestone Four: Financial PlanBusiness Department, Southern New Hampshire UniversityOL-317 Small Business ManagementFor my salon I plan to use my savings for as much of the startup costs as possible. My savings consist of $65,000 and I also have...
4-2 Final Project: Business Plan Milestone Four: Financial Plan
Business Department, Southern New Hampshire University
OL-317 Small Business Management
For my salon I plan to use my savings for as much of the startup costs as possible. My
savings consist of $65,000 and I also have a decent 401K that I could borrow from if I
absolutely needed to. I will also look into a small business loan of about roughly $25,000 to
help make sure I have enough start up funds. With this money I will use it to lease a building,
get insurance, and make sure I have my business license and everything else needed to make
sure that I am compliant. With this startup money I will aals need to buy furniture for the
waiting room, furniture like tables, chairs, shampoo stations, and storage for the employee's
space. Lastly, I will need to make sure that I have supplies that will be needed such as nail
polish, shampoo, conditioner, wax, foil, etc. I also will be looking at the stylists, makeup
artists, and estheticians who plan on renting a space within the salon to pitch in some and
bring some of their own supplies such as hair straighteners, blow dryer, brushes, etc. I also
would like them to bring in their own furniture for their own space to make it their own and
lower the startup cost for me. The cash flow for my salon will be a bit different than most
businesses. "The average both rental costs a monthly fee of $400, but the range can be from
at least $250 t $1,200 per month for a booth" (Gloss Genius, 2022). After doing some
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