Little Scissors Financials
Information about Little Scissors Financials
This is a hypothetical income statement that assumes 3 full time employees
costing $13.00/hr running the business 2880 hours/year. Each haircut is
$13.00 and the operation averages seven haircuts per hour.
Licences fees taxes
With extremely low overhead, the business could already see a profit
and a positive cash flow in the first month. The children’s hair care
industry is estimated at $5 billion and growing everyday. Little Scissors has
the potential of providing its owner with consistent reoccurring revenue stream
that is recession resistant. It is a very attractive business for entrepreneurs
that also want a life outside of their business. It has normal business hours
with few after hours responsibilities, no receivables,little inventory, no theft,
and little maintenance.
In addition to haircuts, there are other avenues and opportunities to increase
sales and profit within the Little Scissors operation. Hosting haircut/make-up
birthday parties on the weekends at $20/head with 10 kids, 4 times/weekend would
add another $40,000 revenue to the business. In addition to selling hair products,
there could also be a market for toys and promotional items related to the business.
Of course, taking the business to the next level by taking the concept and opening
multiple stores and/or franchising it out to others in return for franchise setup
fees and monthly franchise residuals, could make revenues and profits skyrocket
over then next few years.
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