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1. Financial Planning for Salon
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Norda Bryan
DeVry University
Class ENG 062
Professor: Jennnifer
Submission May 23, 2021
Financial advice, don’t be scared to do the right thing, and understanding in business if
you want to be an entrepreneur, maybe you might need to cut off some people that
work for you because of your obligations financially and mismanagement due to hiring
friend and family, critical business issue, etc. starting your beauty salon business.
When renting each booth, make sure that the price you charge per booth will cover the
salon expenses.
Never hire families or friends. If you feel the need to help those you are close to, it is
not advisable.
Buying furniture and accessories for the salon and maintaining a budget is very
important: Example: I want to purchase ten salon chairs, stations, bowls brand new, but
the price was not in my budget; instead, I got used chairs that were 50% less, and they
were good chairs.
Some of the needs are making sure your Appliance has insurance and also is up and
running. Get insurance for employees just in case any accident happened at work
between clients and employees is an essential need that you may want to have
insurance to cover your salon.
Obligations, when it comes to paying the bill every month, there is a statement got to
pay on time so that you won’t get your salon close down, booth rental collecting on time
is essential to meet your knees at the end of the month to make sure those bills get paid
on time.
Hiring appropriate people employees to be in your salon in a professional atmosphere
is critical. Friends and family should not be a part of your business if you plan to have a
successful business; I’m not saying it will not work. Still, in many cases, it can affect

2. dimming your financial obligations. Overall when it comes to the needs, wants, and
financial responsibility of opening my salon, it was a decision that I have to make based
on the fact that I am the type of person that is a risk-taker and open a salon. Beauty
business will depend on the following for conventions, a practical plan with a solid
foundation to dedication and willingness to sacrifice to reach my goals.

4. Reference
Atkinson, R. & Longman, D. (2019). Your multiple intelligences. In Hoeffner, L. & Hoeffner, K.
(2019). Common Ground: Integrated reading and writing (pp. 487-477). McGraw-Hill
Education.
Moyer, J. (2019). Getting to know yourself, finally. In Hoeffner, L. & Hoeffner, K. (2019).
Common Ground: Integrated reading and writing (pp. 493-494). McGraw-Hill
Education.
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