Things to Take into Account Before Opening a Barbershop
Opening your own barbershop is undoubtedly a profitable business venture. But it’s not a business for the timid; it calls for a sizable initial investment and specialised knowledge.
However, if you do it well, you might continue to profit for many years or even decades. all while offering your clients fashionable trimmings!
This manual offers excellent advice on a variety of topics, including how to finance your barbershop, what to consider when choosing a location, the licences and insurance you’ll need, luring clients, and employing employees.
Business Financing
Of course, every new barber shop owner imagines busy lines from day one, immediately turning a profit. Realistically, however, you won’t break even for at least a few months, and in any event, you’ll need money for start-up expenses.
If not, you’ll need to think about getting a loan or finding a business partner to split the costs with. You could have enough money in savings or redundancy benefits to meet the fees. You should have enough money saved up to pay the rent and bills for the first six months, at the very least.
Hiring Workers
While it may be tempting to start out by cutting costs by working alone, if business picks up, you’ll probably need to hire both barbers and support workers, such apprentices.
You should also think about your opening hours. For instance, opening seven days a week is too much for one person to handle, so you’ll need workers to cover various days.
The Location
Do you consider yourself to be a high street company or a firm that caters to the neighbourhood? As an alternative, you may choose a really prestigious location or be in a huge mall.
You must take into account not just the aesthetic and target market you are after, but also your competition’s locations and which ones might provide you an advantage. How will your employees go to work as well as how will customers get there? Is it on a decent bus route or is there convenient parking nearby?
Licencing & Insurance
We advise working with a specialised insurance expert, who can determine with you exactly what you need, to ensure that you are providing a totally professional service.
Creating A Brand
Your choice of business name is an important early decision. The simplest solution might seem to be to simply mention your name, but if consumers come to expect you to constantly be there, it could lead to misunderstandings. Choose a name that accurately captures the ethos, principles, and persona you wish to project.
In the end, if you offer a wonderful service, word of mouth will help your reputation spread, but you can’t wait around for that to happen. You must purposefully create your brand, and in today’s world, doing so critically necessitates being active on social media, particularly in any local community groups.
Business Contact Information
You can’t just rely on passing business to run a thriving barbershop. How will people get in touch with you and, if necessary, schedule appointments?
Make sure all methods of getting in touch with you are simple to identify and utilise. You will need to set up a solid website as well as an email address and a landline.
Costing
Appropriately pricing your services can be a tricky balancing act. Would you prefer to project a “cheap and cheerful” or a high-class image, or something in between? In addition to assuring a profit, it’s critical to have prices that are both competitive and reflect that market level.
Find out how much your competitors are asking for different levels of work, from junior to professional stylists, by researching them and taking your lead from there. To help increase sales, you may also consider offering things for sale at your store.
Advertising & Marketing
You’ll need a marketing campaign to advertise your barbershop, which should definitely include paid advertising, in addition to having a social media presence. Where you want to position yourself and who your target clients are will have a big impact on where you put this advertising.
Flyers in neighbourhood storefront windows and locals-only discounts are only two examples of additional marketing tactics. Remember the influence of online reviews as well. When customers experience excellent service, building reviews on Google is a terrific way to encourage them to share your social network pages.
Conclusion
Opening a barbershop can be a fulfilling and profitable venture when you take into account the considerations mentioned above. By carefully planning your location, adhering to regulations, crafting a solid business plan, and prioritising branding and customer experience, you can set the stage for a successful and thriving barbershop. Remember that continuous learning and adaptation are essential in this dynamic industry. Stay committed to providing exceptional service, and your barbershop can become a staple in the community and a hub for grooming and style.