Starting a barbershop costs roughly between $120,000 and $150,000. The cost depends on your business model, rent, government registration fees, licenses and permits. Don’t forget to factor in the cost of barbershop supplies. Decide on a business model – booth rental, commission, or full-time employment. Many states require barbers to log 800-2,000 training hours. You must connect with clients from all backgrounds.
Planning and Legal Setup
- Obtain necessary certification by attending barber school.
- Form your barber shop into a legal entity.
- Develop a business plan outlining your goals, strategies and financial projections.
- Secure funding from investors or lenders.
- Research your target market to develop your business idea.
Business Operations
A barber shop focusing on men’s hair, necks and beards competes with full-service salons. You can start a boutique version without offering full services. Hire an administrator and professional barbers who understand team roles, as your success depends on collaborative work.
Profitability and Advice
Barbershop owners can become millionaires in busy areas. Men and women change hairstyles regularly, presenting opportunities. Define your goals. Understand your market. Seek advice from professionals with questions.
Because barbering is an esthetic trade, you’ll undoubtedly want to make the interior of your shop look impeccable. Remember, LOCATION and QUALITY OF SERVICE matter.
Customers will view your shop as a fun place to hang out instead of dreading having to go in for a haircut. Subscribe to good magazines and invest in a television set. Ensure that the barbershop is clean.
Revenue Streams and Pricing
- A barbershop makes money by charging a fee for services provided.
- Pricing varies, depending upon the services you offer, your location, and experience.
According to the US Small Business Administration (SBA), the startup costs for barbershops typically sit between $50,100- $148,400. This includes barber school fees…
Some barbers offer personalized service to their clients at their own location. They provide the mobile service to them and charge a good amount per visit.
Barbershop startup costs range from $28,900 to $66,800, with the average cost around $45,000. This total includes the cost of barber school, so if you’re already a trained barber the total will be lower.
The average annual profit for a barber shop owner is $35,000. Many have reported profits of $70,000 and higher, depending upon location and the number of barbers they employ.