The hair industry is an exciting profession which requires dedication. You may have been working as a barber for a while and have thought about opening your own barber shop. However it can be an intimidating prospect if you have never owned your own business before. We invited the experts of barber shop start-ups, Stubble http://www.stubblemensgrooming.co.uk to give us a rundown of what you need to know before splurging all your hard-earned cash.
Many young budding entrepreneurs work in a place that they think is poorly managed. This is the number one reason people go into business is because they believe they can do a better job. If you think that you can do a better job managing a barber shop than your boss, perhaps it’s time you put your theory to the test. Managing a shop requires dedication, time and energy, in addition to excellent people skills and a good business sense. Observe your employers before you jump in, detailing how you will improve your barber shop. Here is a guide on some of the things you may need to consider when opening a barber shop.
Find out what works
Really begin to analyse the business you are currently working for. Analyse what you like and dislike about the way the business is run. Create a list and suggest some changes next to each point. One of your greatest sources of feedback is your current clientele. Ask them what changes or services they would like to see implemented.
Get a plan together
Develop a full business plan that details operating costs, start-up costs, advertising costs, staff requirements, anticipated clientele and how you intend to compete. Attempt to create a competitive pricing list to determine what type of profits you can expect and how much you can afford to spend on your rent. Generally, your rent should not be more than 10 percent of your projected total revenue.
Be location savvy
Scout out potential locations for your business. The best locations are either shopping centres or other businesses that your clientele already frequent.
Don’t get stuck in a contract
Hire a lawyer to look over the details of the rental agreement, such as the landlord’s responsibility with repairs, expansion potential and early lease termination clauses.
Be insured
Purchase salon insurance. Equip your facility with adequate equipment, supplies and cleaning products. Address all public safety, licensing and sanitation regulations.
Hire staff
Start recruiting employees to work in the shop. Develop a dress code policy or uniform for your employees.
Market well
Offer discounts to your existing clientele for any customer referrals. It is wise to create a buzz for your business with a grand opening. Make sure the press are aware of the opening by submitting releases. It is also important to have an online presence so create a website for your shop.
What you will need:
- Business plan
- Equipment
- Location
- Sinks
- Chairs
- Insurance
- Hair care supplies
- Business license
- Employees
- Website
- Advertising/marketing plan
This may seem like a multitude of things to consider. Opening a new barbershop can be an overwhelming process. If you are looking for an easier way to open your own barber shop then check out Stubble. Stubble is part of a franchise which helps barbers set up their own shop with support and funding on all of these topics. Get in touch today on 07833 477743.
