A Barber Shop is one of does business that we all get into either as a customer or as a business owner. Ever since I can remember I’ve been getting my hair cut and the only times I have ever changed barbers or even barbershops, is when I move from one location to the next. So the business does have this unspoken loyalty program.
Key Questions Answered
1. Start Up Cost
- You would need to buy the barbershop from a current owner then negotiate the lease with the landowner ($10,000 to $150,000)
- You could also just negotiate a lease a new spot and create a barbershop from scratch
( maybe three month deposit on the lease and youll have to buy all the equipment and build up the client base )
- Each chairs brand new: $479 maybe a 100 lower or hundreds of dollars more if you want to be fancy. Remember Shipping is a lot of cash like $126 per chair or more
2. Expenses
Rent
Utilities Light, water, internet, cable
Business tax
Commission if you decide not to rent the space per barber
Maintenance: employee to handle cleaning: 400 a month
Trash pick ups: $10-$50 a month
3. Profits
Example you have 6 Barbers: each pay you $220 per week = $1320 a week profit
Monthly: $5,280
Keep in mine when barbers are new the prices will be lower because they are just starting. Or they could be on a percentage base
4. Challenges
Competition
Creating a client base
Maintaneince
Ideas
I feel as if a barbershop is one of does classic business that is just waiting on some new renovations of some sorts. Maybe subscriptions or something like that.
Imagine: A barbershop where you pay 100 a month, get 4 haircuts a month plus special perks like man shacing creams and stuff sent to your house.
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