In most communities, there is a growing demand for grooming services. If you are thinking about launching a barber shop business, you have the opportunity to turn it into a profitable venture. The only thing is, your business must be backed by a solid entrepreneurial plan and you must have an excellent workforce.
Before you decide to launch a barber shop business, you have to determine if you want to start right from scratch, or is it wiser for you to purchase an existing shop.
Starting a New Barber Shop
There are some entrepreneurs who want to have complete control over their business and their brand. For those people, the best option is to start a new barber shop. It can be a challenge to start a barber shop business right from scratch. Here are some tips to help you launch a barber shop business.
1. Form a Business Plan
After you are done with the necessary researching, you now have to work out a business plan. The plan has to include industry and market research, business model you plan to follow, financial forecasts and research about staff members and key managers.
2. Secure Yourself A Location
In order to set up your barber shop, you must have a commercial property. Get in touch with qualified commercial real estate agents to help you look for a prime location where you can set up your shop.
3. Obtain the Necessary Business Licenses
If you wish to start any sort of business, your state requires you to obtain a license. Same goes for launching a barbershop business. You have to inquire and apply for a business licence according to with your state’s own regulations.
4. Buy Furniture, Equipment and Inventory
It is imperative that before you open up your barber shop, you have professional equipment for example barber chairs, and items such as such as conditioners, shampoos, combs, brushes, and styling products. You will also have to arrange for furniture to place in the waiting room area. In order to get your furniture, equipment and inventory at a good price, you should contact a wholesaler who will supply you with grooming and personal care items.
5. Hire Staff and Other Barbers
Now that everything is in place, you need to hire barbers and other workers for your shop. You may think that this recruiting and hiring will not take long, but be prepared to put in plenty of time for this process. If you want to have an exceptional and professional workforce, you will have to recruit carefully.
6. Form a Marketing Plan
How do you plan on advertising and spreading the word about your barber shop? You need to have a marketing plan for that. In this day and age, you need to make use of social media marketing such as Instagram apart from the traditional print advertising in magazines and local newspapers.