Salon / Barbershop Financial Model Template
Running your own salon or barbershop takes a big investment and a lot of passion. With all the equipment, supplies, and staff required to run the business, you want to make sure you're making smart financial decisions. But we know you didn't get into this business to learn the intricacies of various financial equations. You're creative, and you want to spend more time expressing your creativity. That's why we've created the financial model template for salons and barbershops. We built this template specifically to make your life easier by doing the heavy lifting for you. All you need to do is input some simple assumptions about your business, and the template automatically creates a complete financial analysis. You'll be done with your pro forma forecast in no time, and you can get back to the things that really matter.
How the Salon / Barbershop Financial Model Works
The salon/barbershop financial model template is built using our financial modeling software. Our goal is to make finance more accessible, and we do that by translating finance into the things we already understand about the business. We know we need customers and what it costs to service them. Those are the kinds of things we want to focus on, and we've done our best to automate everything else.
The financial model starts you off with three different examples demonstrating how you might forecast revenue. The first method shows you how to forecast by type of service (haircut type). The second estimates the number of monthly customers for a specific stylist. Lastly, we show you how to forecast revenue with an estimate of billable monthly hours by stylist.
On the costs side of the equation, we've included several general expenses you'll likely find useful. There are multiple examples of simple fixed costs, like rent or insurance, and some more sophisticated variable costs, like the cost per haircut.
The last examples we include show you how to add assets the business owns. The placeholders are for purchases of 10 cutting chairs and 10 blow dryers. You'll be amazed easy it is to model such complex transactions.
This template is not a one-size-fits-all tool. We put it together to show you how easy it is to tell your own financial story. If you ever run into questions, reach out for some support. We're happy to help.
Full Pro Forma Financials for Your Salon / Barbershop
Once your assumptions are refined, your job is done. All of the financial results are automatically generated for you. This analysis includes charts, graphs, tables, and important financial KPIs. There's even a complete set of pro forma financials, including an Income Statement (P&L), Balance Sheet, and Cash Flow Statement. When you're ready to share with others, you can easily do so through our software or download everything to MS Excel for presentations. It's free to sign up, so there's nothing to lose!
