The following will be the operations plan of Regal Men Barber Shop.
- Maxwell Jackson will solely own and manage the barber shop himself. He will be in charge of paying rent to the property manager, utilities, purchasing supplies for the barber shop and all other necessary expenses.
- Maxwell will technically not have any employees. All other barbers will be independent contractors who will receive a 1099 tax form annually.
- The other barbers who will be at Regal Men Barber Shop will rent their space and chair from Maxwell. They pay a monthly rent to Maxwell, but keep all profits for themselves.
- Maxwell will use a local CPA to do all of his tax filings and necessary licensing and permitting for the business.
- Maxwell will pay his nephew for the website design and maintenance.
Download the barber shop business plan template (including a customizable financial model) to your computer here <–
Regal Men Barber Shop will have the following milestones complete in the next six months.
6/1/202X – Finalize lease agreement for 1,500 square foot barber shop.
6/10/202X – Begin light construction to update and modernize existing barber shop.
7/1/202X – Purchase new chairs, barber stations, and shampoo stations for the barber shop.
7/15/202X – Begin social media campaign announcing the former barber shop will soon be reopened as Regal Men Barber Shop.
8/1/202X – Final walk-thru of completed barber shop.
8/15/202X – Grand Opening of Regal Men Barber Shop.