Shag Salon | Application Preview
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General Information
Business Registration Number: 626442421
Location: Sacramento, CA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: $100k to $250k
Open to Loans: NO
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Funding Usage
My plan for the funding received would be to upgrade our current space as well as seek expert advice on how we can successfully change our current business model. Upgrading our space includes installing cabinets in the shampoo area as well as the back room for additional storage as it would be the best way to utilize what we can in our small space. We also need to replace the front windows, the front door and add more awnings as those will also help to regulate the heat and air during the extreme temperatures of Sacramento while decreasing our energy usage. Lastly, replacing the current parking lot gate will increase security in our parking area for our clients and stylists. The expert advice the salon will apply for will be the babes in biz, which go over our current business plan, all the current profit margins and business expenses, and how to restructure your salon to be an employee team based salon as opposed to rental or commission
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Business Plan
In the next 5 years, we plan to grow our business by either expanding into the space next door, or by adding an additional location. We plan to create a new business model, taking our existing independent contractors and make them our management employees so we can provide a more unified working culture, PTO, benefits, retirement and more opportunity to grow. The salon would take on new employees with less experience, to be trained by our seasoned stylists in an inclusive and secure environment. My business would be worth investing in because I have big dreams to make Sacramento and my small business the best it can be. We will do this by providing a better working environment to artists in the beauty industry that will give to and connect our community. We need benefits, education and a positive culture. We need more inclusive salons that work as a team instead of competing against each other.
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Self Identified Competition
Our top 3 competitors are Lifetime (formally Arden Hills), Strands and Honey Salon. Most of our stylists and clients came from the salon that was located inside of Arden Hills (Salon Cabochon). When we had started at Cabochon, the concept was team based, similar to what we wish to recreate. That salon was bought out by Arden Hills, who took away our benefits and culture. Most of our clientele were members there. Now that Lifetime has bought out Arden Hills they are currently remodeling and building a new salon, and will soon be our biggest competitor. Lifetime is a large chain that has much more funding and resources to entice our clientele. We are hoping to retain as many clients as possible, but will most likely lose some when Lifetime’s salon is finished. Strands and Honey salon are the two salons located closest to ours. Though we carry different products and vibes, they are only just a few steps away and another option for walk in potentials. What makes Shag Salon different than our competitors is our culture and the environment we create. We want every stylist to thrive, and every client to feel welcome. We are an all women small business, who support each other, and go the extra mile for our clientele. We invest in brands that are environmentally conscious. We support our fellow small businesses and artists. We have the dream of removing the stereotypes surrounding the beauty industry, by enriching the lives of our clients, our stylists and our community.
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Contact Applicant
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