Establishing a barbershop and watching it flourish into the successful business you’d hoped it would be is a once-in-a-lifetime experience. You can finally share your unique brand with the world. Moreover, you have the opportunity to provide clientele with top-of-the-line products and positive barbershop experiences that keep them coming back for more.
With that said, starting a business doesn’t come without challenges. Meticulous and thoughtful planning is necessary if you want your barbershop to reach its full potential. We’re here to provide some insight into everything you should know about opening a barbershop.
The Importance of a Game Plan
All great businesses start with a great game plan. This part of the process is about figuring out your business’s core and brand. It’s also a time to plan for expenses, get to know your potential markets, and define your business goals.
Read on to explore the specifics of each significant element your plan should include.
#1. Defining Your Brand and Business Goals
First, you need to define your business as a whole. Before you start talking about the market and margins, it’s best to make decisions concerning your brand. Your brand is what makes your business unique. Defining it will guide you in crucial decisions about logos, color palettes, and marketing campaigns.
An excellent way to feel out your barbershop’s brand is by asking yourself a few questions, including:
- What are the core values of my business, and what’s my mission?
- How will I incorporate my unique viewpoint and style into my barbershop?
- What products, services, and merchandise will I offer?
- What color palette best captures the brand of my business?
Once you can answer these questions, you can start building your brand.
#2. Knowing Your Market
After you define your brand, it’s time to start figuring out where your barbershop will fit into the market. In other words, who are you going to sell to? Moreover, how will you get them to invest in your products and services rather than your competitors? A good first step is to determine which customer base you want to reach.
For instance, your brand might be most appealing to people over 40. On the other hand, your brand might be accessible to young adults or all age groups. The point is to get an idea of who your customers are. Defining your target audience ensures you how to market your business to them.
The next step is to do market research. This means spending time online to see what sort of barbershop experiences people prefer. Additionally, look into top-selling skin and hair care products to know what you might want to offer once your shop is open for business.
#3. Creating a Budget
Market knowledge, a strong brand, and defined business goals are only part of the equation. For your incredible business plan to be complete, you must create a comprehensive budget. After all, establishing a business comes with a list of expenses.
Things will go much more smoothly if you know what to expect before executing your plan. Plus, you can prepare to handle any unforeseen financial situations that may need your attention down the line.
Location, Location, Location
Once you feel confident in your business plan, it’s time to start looking for the perfect place to house your barbershop! There are a few things you want to keep in mind as you browse commercial real estate. First, pay attention to how much space each location has.
Does the square footage align with the vision you have for your barbershop? It’s also wise to take note of things like foot traffic volume and the apparent condition of the building. Additionally, pay attention to the following things as you search for the perfect storefront for your business.
#1. Proximity to Complementary Amenities
Selecting an excellent building starts with the condition of the building itself. Once you’ve narrowed your search to a few sturdy buildings in pristine condition, you’ll want to examine some of its other—perhaps less conspicuous—qualities.
For instance, you may examine the surrounding businesses and amenities to see if you have any stiff competition. Moreover, you might investigate to see if you’re near any establishments that might complement your barbershop and bring customers in.
#2. The Local Market
Something else you want to pay attention to when selecting a location is the local market of the properties you’re interested in. For example, if you’re looking to market to fashionable adults in their 20s or 30s, you might aim for a location that caters to that demographic more.
If you’re looking to serve families with children, you’ll want to seek a location that caters to them. An area near a residential neighborhood might be a great place to set up a family barbershop. In short, select a location where customers are looking for the type of services you offer.
Setting Up Operations
Congratulations! You’ve got a solid business plan and a location you’re excited about. Now it’s time to explore setting up your barbershop operations. This part of the process is perhaps the most rewarding. After all, it’s not every day you get to watch your dream materialize.
Of course, this part of the process also requires the most work. You must take care of numerous things before you can open your doors to the public. These are just a few of the things you’ll need to consider before welcoming your first customers.
#1. Take Care of Logistics
Taking care of the logistics of opening your barbershop needs to be at the top of your to-do list. This means handling all of your business’s legal, technical, and otherwise mundane aspects. Business logistics can include numerous things, such as:
- Building inspections, permits, insurance, and licensure
- Payroll, taxes, and other expenses associated with operations
- Deciding on a legal structure for your shop to follow
- Cleaning your storefront and setting up shop
- Coordinating training and hiring staff
While these things may not seem as exciting as building your brand and securing a location, they are necessary parts of owning a successful business. Ensure that these things are taken care of well before your grand opening. Trust us—you’ll be glad you did.
#2. Obtain Excellent Equipment
You can’t have a barbershop without cutting-edge barbershop equipment. Make sure that you get everything you need to serve your customers. This could be anything from vanity stations to barber chairs, aprons, new styling tools, and more.
The point is to ensure you have all the products and equipment you need to serve your customers an excellent barbershop experience. Doing so will lay a sturdy foundation for your customer base and the overall success of your business.