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  1. #1

    Huh? Pink Second location plan

    I want to make sure I am using business plan helper correctly. I have an established salon and looking to open second location from scratch, although I already have a groomer and bather that would love to work in it. It is closer to their homes and a great growing area. Can you go over again how best to use helper for my goal. I may want a small loan, but don't really absolutely require it.

  2. #2
    Join Date
    Feb 2007
    Location
    Washington state
    Posts
    1,267

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    Teena2, I don't know anyone's real name here on the board but I think you may be Teena that did a plan like 4 years ago. I see you are in TX. So you probably still have your original business plan, and you should maintain that and bring it up to date with current sales and operating costs. You should first do a separate business plan for the new location. You want to know its performance in sales and operating as a stand alone. For example each franchise of a big franchisor has its own unique performance that must be known, so you are on the right track. Doing so will also make you face important decisions. Sometimes a new location has much different operating expenses, so will you have to charge more than your main location. Not a great thing to do, but if it moves into a high rent affluent area where rents are much higher, well then, you may have to charge more. There are quite a few things to answer as you do the 2nd locations unique plan. That you have staff ready makes this more viable, and builds confidence. It is absolutely critical that each place is managed equally. So how you manage one is how the others are managed....that's the big difference between multiple location businesses of any kind. You don't want people to say I go this location because the grooming is better, or this or that is better...so you need a management system in writing just as my family published theirs in From Problems to Profits in grooming book. Everyone is using the same system at both locations. Hopefully you will be able to groom less and occasionally visit your 2nd location too.

    So maintain two separate plans to start with. Now if you go to the bank for a loan, you can or I can customize your business plans where the sum totals of both are added together in a summary spreadsheet. The bank will want to see that. It is not highly detailed with writing of any kind, it is a just a summary of the financial performance from combining data from two sets of financials. You can even do it manually with a calculator and type it as a word document, but keep a copy of the file as making changes to numbers on either of the two plans is to be expected. Good luck with your venture.

    Some of the best multiple location groomers I have worked with followed this path, and like you, they did open a 2nd location where all the growth was coming. Sometimes we will work with local planning agencies and find out where the building permits have been issued, the overall plans, and when we see anchor businesses like big supermarkets etc coming in, and roads being expanded we have more certainty this is the area, and getting in first really can payoff.

  3. #3
    Join Date
    Jun 2017
    Posts
    26

    Default

    Sort of same question, so if we maintained a mobile business, and added a shop we would do 2 financials, one for the existing mobile and one for the new shop. Right?

  4. #4
    Join Date
    Feb 2007
    Location
    Washington state
    Posts
    1,267

    Default

    Quote Originally Posted by CathyB View Post
    Sort of same question, so if we maintained a mobile business, and added a shop we would do 2 financials, one for the existing mobile and one for the new shop. Right?
    That is correct.

  5. #5

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    Well it is almost done, we binged out on it for a week.

  6. #6

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    APPROVED! We only had to wait 24 hours once we met with our bank. They were very impressed with the business plan. We have to fill out some more papers related to SBA needs, but it is a go. We talked with a landlord in the new area and guess what? "Do you have a business plan?" I said wait a moment, it is in the car. You should have seen the look on his face, and smile. Some of these leasing companies flush out people asking for a plan, we did! Now to negotiate.

  7. #7
    Join Date
    Aug 2007
    Posts
    3,067

    Default

    Quote Originally Posted by Teena2 View Post
    APPROVED! We only had to wait 24 hours once we met with our bank. They were very impressed with the business plan. We have to fill out some more papers related to SBA needs, but it is a go. We talked with a landlord in the new area and guess what? "Do you have a business plan?" I said wait a moment, it is in the car. You should have seen the look on his face, and smile. Some of these leasing companies flush out people asking for a plan, we did! Now to negotiate.
    Congratulations!

  8. #8
    Join Date
    Feb 2016
    Location
    Shasta
    Posts
    167

    Default

    Congrats on your approval.

  9. #9
    Join Date
    Jul 2017
    Posts
    26

    Default

    That sounds great! Congratulations and good luck with your second shop.

  10. #10

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    Awesome, I am glad to hear experiences of others with the box.

  11. #11
    Join Date
    Dec 2006
    Posts
    1,689

    Default

    Quote Originally Posted by Teena2 View Post
    I want to make sure I am using business plan helper correctly. I have an established salon and looking to open second location from scratch, although I already have a groomer and bather that would love to work in it. It is closer to their homes and a great growing area. Can you go over again how best to use helper for my goal. I may want a small loan, but don't really absolutely require it.
    How is it going?

  12. #12

    Default

    Second and more locations are really scrutinized by customers to see if the services are the same, prices even if close together. That to me is an obstacle without top management of owners. Whatever the basics are they should be the same. I know a chain of auto stores here and one of them just doesn't live up to others by comparison, the staff, the service, the stock in hand. I just hate that it is closer to me and sometimes I will drive the extra 3 miles to go to their other location.

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