The average startup costs for barbershops range from $50,100 to $148,400 as per the US Small Business Administration (SBA). This includes barber school fees. However, it is possible to start this business with less than $10,000. The cost breakdown includes buying or renting the retail space, renovating it as per standards, securing permits and licenses, buying equipment like barber chairs, purchasing supplies, paying employees for initial months, marketing expenses etc. The location of the barbershop greatly influences these costs. Places with high real estate costs like Manhattan can have a monthly rent exceeding $80,000 while small towns may only need less than $1,000. Industry analysis shows the barber shop business is quite profitable. Profit margins range from 10-20% of total sales. With good management and planning, it can be highly lucrative. Identifying the target market is key for success. Shops located in central business districts benefit from male office goers while those near schools and residential areas attract families. Providing quality service and a great ambience ensures customer retention. Additional revenue can be generated by renting out empty spaces to individual barbers.
Steps to Start a Small Barber Shop
How do I start a small barber shop? A barber shop is very profitable. You can make good money without being a barber yourself. And depending on how you choose to run it, commission or booth rent. Always keep in mind that LOCATION and QUALITY OF SERVICE matter.
Becoming a Barber
What do I need to do to become a barber? Gain some work experience in school and through externships.
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.