Starting a Barbershop Business? Here’s What You Need to Know

Starting a Barbershop Business? Here’s What You Need to Know

a barbershop ownerThe first step is always the hardest and when it comes to business, that first step can be absolutely intimidating. To lessen the burden, here’s a quick rundown of what you need if you want to establish a name in the barbershop industry.

Learn the Ropes

You can always hire others to do the work. However, it is important that you understand what the job entails. This type of knowledge is particularly helpful if you are opening a small-to-medium barbershop.

In the US, the cost of getting education and license as a barber varies from state to state. Normally, this can cost 6,500 USD to 10,000 USD, depending on where you attend school. You can complete training in one year and three months. When you’re done, the cost of licensing can vary depending on where you practice, ranging from 50 USD to 150 USD.

Equip Your Business

Include in your starting expenses the cost of business licensing, lease or purchase of your location, and, of course, the tools of the trade. You need to buy barber clippers, combs, shaving cream, and other related supplies. These are available online and offline, but you can get the advantage of easy price comparisons if you buy online.

Size Up Your Business

Small-scale barbershops with limited staff and space can cost about 50,000 USD. A medium-sized one needs around 150,000 USD. To get a large-scale barbershop plus multiple locations and franchise options, you would need at least USD 500,000.

On the other hand, you can buy a barbershop franchise for 120,000 USD. By franchising, you’ll be following the already successful footsteps of another business owner. Though it does not guarantee success, it can give you a better chance of succeeding than if you start on your own.

When starting a business, remember that your own knowledge isn’t enough. Businesses require care and attention to flourish, so if you wish to succeed, find a mentor or two to guide you along the way.