Executive Summary

Madam Kay Salon is a high-end hair salon located in the heart of the city, offering a wide
range of hair services including cutting, styling, coloring, and treatments. Our salon aims to
provide a luxurious and relaxing experience for our clients, with a team of experienced and
skilled stylists who are dedicated to delivering exceptional results. With a focus on customer
satisfaction and quality service, Madam Kay Salon is poised to become a leading destination
for those seeking premium hair care services.

Market Analysis:

The hair salon industry is a thriving and competitive market, with a growing demand for high-
quality services. Our target market includes both men and women who value professional hair
care and are willing to invest in their appearance. With a focus on providing personalized and
tailored services, Madam Kay Salon aims to attract clients who are looking for a premium
salon experience. Through strategic marketing efforts and exceptional customer service, we
aim to capture a significant share of the local market and establish a loyal client base.

Organization and Management:

Madam Kay Salon is owned and operated by Mrs. Kolawole Onoja, a seasoned hairstylist with
over 10 years of experience in the industry. Mrs. Onoja has assembled a team of talented and
dedicated stylists who share her passion for hair care and customer service. The salon is
structured with a focus on teamwork and collaboration, ensuring that each client receives the
best possible service and results. With a strong emphasis on training and professional
development, the team at Madam Kay Salon is committed to staying up-to-date on the latest
trends and techniques in the industry.

Business Description:

Madam Kay Salon is a full-service hair salon offering a range of services including haircuts,
styling, coloring, treatments, and more. Our salon is designed to provide a luxurious and
comfortable environment for our clients, with modern decor and state-of-the-art equipment.
We pride ourselves on using high-quality products and tools to ensure that each client receives
the best possible results. With a focus on customer satisfaction and attention to detail, Madam

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Kay Salon aims to exceed the expectations of our clients and provide a memorable salon
experience.

Product/Service:

Madam Kay Salon offers a variety of hair services, including:

 Haircuts and styling

 Hair coloring and highlights

 Hair treatments and conditioning

 Special occasion styling

 Extensions and hair enhancements

 Men's grooming services

Our team of experienced stylists is trained in the latest techniques and trends, ensuring that
each client receives a personalized and tailored service. We also offer consultations and
recommendations to help clients achieve their desired look and maintain healthy hair.

Market Strategy:

Madam Kay Salon's marketing strategy is focused on building brand awareness, attracting new
clients, and retaining existing clients. We will utilize a mix of traditional and digital marketing
tactics to reach our target market, including social media advertising, local partnerships, and
targeted promotions. By offering special deals and incentives, we aim to attract new clients
and encourage repeat business. Additionally, we will focus on providing exceptional customer
service and building strong relationships with our clients to foster loyalty and word-of-mouth
referrals.

Sales Strategy:

Our sales strategy is centered around providing a premium salon experience and delivering
exceptional results to our clients. We will focus on upselling and cross-selling services to

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increase revenue per client visit, as well as offering retail products to complement our services.
By providing personalized recommendations and advice, we aim to increase client satisfaction
and loyalty. Additionally, we will implement a client referral program to incentivize our
existing clients to refer their friends and family to Madam Kay Salon.

Operational Plans:

Madam Kay Salon will operate six days a week, with extended hours to accommodate our
clients' busy schedules. Our salon will be equipped with the latest tools and technology to
ensure efficient and high-quality service delivery. We will implement a booking system to
manage appointments and minimize wait times for our clients. Additionally, we will invest in
ongoing training and development for our team to ensure that they are equipped with the skills
and knowledge to provide top-notch service to our clients.

Financial Plan/Projection:

Our financial plan includes detailed projections for revenue, expenses, and profitability over
each month. We have outlined our startup costs, including equipment, supplies, and marketing
expenses, as well as our projected revenue from services and retail sales. We have also
included a break-even analysis to determine the point at which our salon will become
profitable. Our financial projections are based on conservative estimates and assumptions,
taking into account potential fluctuations in the market and industry trends.

1. Start-up Costs:

 Rent: N400,000 per month

 Salon equipment and furniture: N500,000

 Initial inventory: N300,000

 Marketing and advertising: N100,000

 Licenses and permits: N50,000

 Total start-up costs: N1,350,000

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2. Monthly Operating Expenses:

 Rent: N400,000

 Salaries for hairstylists: N300,000

 Supplies and inventory: N150,000

 Utilities: N50,000

 Marketing and advertising: N30,000

 Miscellaneous expenses: N20,000

 Total monthly expenses: N950,000

3. Revenue Projection:

 Average customer spend per visit: N5,000

 Number of customers per month: 200

 Total monthly revenue: N1,000,000

4. Profit Projection:

 Total monthly revenue: N1,000,000

 Total monthly expenses: N950,000

 Monthly profit: N50,000

5. Break-even Analysis:

 Monthly fixed costs: N350,000 (rent, utilities, marketing)

 Contribution margin per customer visit: N5,000 (average spend - variable costs)

 Break-even point: 70 customer visits per month

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This financial plan demonstrates that the hair salon business will be able to cover its monthly
expenses and generate a monthly profit of N50,000 if it attracts at least 200 customers per
month. With a break-even point of 70 customer visits per month, the business is projected to
be profitable and sustainable in the long run.

Appendix:

 Salon floor plan

 Equipment and supplies list

 Marketing materials and strategies

 Staff training and development plan

 Financial projections and break-even analysis

 Client referral program details

Overall, Madam Kay Salon is poised to become a leading destination for premium hair care
services in the local market. With a focus on customer satisfaction, quality service, and a team
of experienced stylists, we are confident that our salon will attract a loyal client base and
achieve success in the industry.