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Salon Financial Model Excel Template

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Hair & Beauty Salon Financial Model Template in Excel. Feasibility study and budget planning. Printable financial ststaments. Ready for use.

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Are you considering opening a hair and beauty salon nowadays? Or, are you already in this business? Then, this Salon Financial Model Excel template will give you an insight into the financial details that you need to get started.

Moreover, this tool will allow you to create and analyze reliable operating and financial forecasts. In particular, you can produce financial projections, such as revenue, costs, cash flow, and capital requirements for up to ten years. You can also play with various assumptions, and see how they will affect your projected figures.


Although it is packed with features allowing you to prepare a professionally-looking financial section of a business plan, you do not need to be a financial expert to make use of it. This Financial Model template for hair and beauty salons are user-friendly and intuitively understandable.

In summary, this Salon Financial Model spreadsheet will allow you to:

  • Produce monthly and yearly operating and financial projections for up to 10 years;
  • Furthermore, factor long-term sales trends, along with seasonal fluctuations of demand;
  • And also, evaluate capital requirements and make capital rationing, combining debt and equity in different proportions;
  • Assess crucial industry metrics such as revenue per chair and revenue per hour;
  • Calculate standard investment metrics, such as payback period, discounted payback period, Net Present Value (NPV), and Internal Return Rate (IRR);
  • And lastly, account for the effect of taxation.

Once you put all necessary data into the model, you will be able to produce professionally looking pro forma statements and charts.

The Salon Financial Model Excel Template Features:

Generally, the Dashboard section encompasses two parts. The upper one is as a navigation pane, and the lower one is for general settings and assumptions. Here you also can show or hide built-in instructions.


In the Model Config Section:


  • First, Set a length of the Projection Period between 2 and 10 years.
  • Enter the Start Date of the project. It should be the first day of the first month of operation.
  • Daily Working Hours has to input.
  • Specify a Code of the Currency that all monetary amounts displayed.
  • The Discount Rate has to input for the calculation of the Net Present Value (NPV) of the project.
  • Lastly, enter Income Tax Rate that will affect net profit after taxation.

In the Services Table:Hair-Beauty-Salon-Financial-Model-Someka-S03

  • Firstly, list the Services, or Service Categories, that you are going to provide to your clients, along with related assumptions.
  • Set Number of Chairs and Average Time Minutes.
  • The Average Price is specified for each category of services.
  • Finally, add a list of Direct Cost percentages for each category of services. Direct costs may represent not only the cost of beauty products and materials but also direct wages (pay per client).

In the Beauty Products Table:Hair-Beauty-Salon-Financial-Model-Someka-S04

• Enter a list of Supplementary Products that you are going to sell, along with respective direct cost percentages (average ratios of purchasing prices to selling prices).

The Sales Trend table allows you to set long-term trends in order to account for how improving customer awareness and loyalty will affect your overall sales over years. If you do not expect your sales to change from year to year, you can leave this table blank.


In the Service Revenue section, select all or several of the service categories from the drop-down list of services. Maximum daily numbers of clients (assuming 100-percent occupancy) will be calculated automatically.

Service Revenue

To account for seasonal changes, use the Seasonal Occupancy Trend table. It allows you to account for an effect of lower-then-full occupancy, separately for each service, and each month of a year.


This way you can take into account both “normal” vacancy, and the effect of seasonal fluctuations of demand. So, if you leave this table blank, you will in effect assume 100-percent occupancy throughout a year.

Moreover, if you expect selling prices increasing over time (for example, due to inflation), enter the respective increase rate along with its frequency into Price Increase fields. Do not use this to account for changes in numbers of services sold; use Sales Trend (in the Dashboard section) instead.


Likewise, the cost of services calculation automatically taking into account service revenue and percentages of direct cost. So, if you expect inflation-driven changes of direct cost to happen over time, enter respective parameters into Cost Increase fields.

Products Sales

Similarly, in the Beauty Product Sales section, select categories of beauty products from the drop-down list of products, and enter average daily revenue. If you expect seasonal variations of sales, fill out the Seasonal Sales Trends table.

In addition, the projections of sales revenue and costs of goods sold will be calculated automatically in this excel template for salon financial models. You can account for long-term changes in prices and costs using the Revenue Increase and Cost Increase fields.


It is assumed that neither a substantial inventory of supplementary products nor associate trade credits, would exist. In other words, all products sold in a given month are bought and paid for in the same month. If you are going to keep a substantial inventory of goods for sale, add the initial expenditure necessary to buy it into the Startup Costs section.

After you entered sales-related assumptions in the Sales & Inventory section, go to the Fixed Costs section.

Fixed Costs

In the Staff table, enter names of employee positions, along with their respective salaries. For each projected month, enter the expected numbers of employees. If you expect that salaries will increase over time, enter expected increase rates and frequencies into Salary Increase fields. Time-adjusted salaries will be calculated for each month of the projected period.


In the Other Monthly Expenses table, enter names of expense items into the list, and then enter expected monthly expense amounts for each projected month.

If you are going to pay some staff members per client, and you already have included direct labor cost in the percentages of the services’ direct cost, do not enter respective wages in this section, otherwise, respective personnel cost will be counted twice. Only enter hourly (daily) wages here.


Next, enter expected startup costs into the Startup Costs section. Remember that it is safer to overestimate a bit of your startup expenditure than to find your business running out of cash at the very beginning.

Startup Costs

Using the Account field, you can indicate whether respective startup expenditures will create an asset (for example, property, equipment, software, or patents). However, if you do not need to produce pro forma financial statements for your salon financial model, you can ignore this column altogether in this Excel template.

Besides, if you have no accounting knowledge, you can use a litmus test to decide whether an expenditure creates an asset, or not: if something can be subsequently sold, it is an asset, otherwise, it is an expense.


If what you need is simply to get a snapshot of projected revenues and costs, you can jump right to the reports. However, if you need a more comprehensive financial picture, go to the Miscellaneous section first. Here you can add figures related to financing and fixed assets.


In the Debt & Equity Financing table, enter:


  • Equity contribution – money injected to the business by owners (co-investors);
  • Equity repayments – amounts of initial investments withdrawn by owners (co-investors) at par, as well as payouts to the owners (co-investors) expected to be made out of net profit;
  • Debt Issuance – amounts of loans received from a bank or other lender;
  • Debt Repayment – payments in order to repay the principal amount of the loan;
  • Interest Paid – payments for the use of the loan.

Fixed assets are those you expect to be in use for more than one year. They include tangible assets, also known as property, plant and equipment, and intangible assets (software, patents and trademarks).

Enter amounts you are going to spend for fixed assets, other than startup costs, to the Fixed Assets table. For the sake of simplicity, we do not calculate depreciation and amortization; however, you can add them manually in this table.


You will instantly be able to see a snapshot of profit and cash flow in the tables below. Pay attention to the End Cash Balance figures. If any are in red, it means your business is running out of cash in respective months. In this case, you will need to consider an additional equity contribution, or a loan in order to balance cash flow.

You also can play with the equity and debt figures above and immediately see an effect here.Hair-Beauty-Salon-Financial-Model-Someka-S16

Now you can go to the reporting section of the template, which is available from the Dashboard section.


In summary, this spreadsheet contains the following reports:

  • Monthly and yearly pro forma financial statements including Income statement, Balance sheet, and Cash flow statement;
  • Profit (EBITDA) report presenting breakdowns of income and operating expenses by line items;
  • Breakeven Analysis report giving you an estimation of the payback period;
  • Gross Profit Breakdown report displaying details of income, direct costs, and profit margins for each category of services and supplementary products;
  • Gross Profit Report shows a summary of gross margins for each category of services and supplementary products for selected periods;


  • Revenue Details shows sales revenues for each category of services and supplementary products as a report;
  • NPV and IRR calculations and a chart of cumulative discounted cash flow giving you an estimation of discounted payback period;
  • Revenue Per Chair report displaying, for each category of services, projected monthly revenue per available chair;
  • Revenue Per Hour report displaying, for each category of services, projected monthly revenue per available hour-chair.


  • Works both on Mac and Windows
  • No installation needed, ready to use.
  • Professional design and suitable for presentations
  • On Sheet Instructions
  • White Label
  • Print-Ready
  • Compatible with Excel 2010 and later versions

Salon Financial Model is a ready-to-use Excel Template and provided as-is. If you need customization on your reports or need more complex templates, please refer to our custom services.


Watch the video below to see the template in action! Presentation also includes usage notes, explanations and tips & tricks about the template.




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