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Investment ideas Starting a Barbershop — Sample Business Plan Template Are you looking for a business you can start with little or no money? Do you have good hair cutting skills?
Then below is a guide on how to start a barbershop. The barbering business is recession-proof. Everyone needs a haircut, and hair will never stop growing no matter what state the economy is in. If you are very good at barbering or giving nice haircuts, and would love to start a business of your own, then you should consider starting your own barbershop business.
This might be a big decision, and setting up the business might be somewhat hectic. However, with excellent skills and a good business sense, you will be able to maintain the business easily and grow it to the point of success. Does the idea of starting a barbering shop sound great to you? And do you have the skills required?
Then follow these steps to start your own barbering business: Obtain the necessary licenses Before taking a plunge into the barbering business, you must obtain all the licensing required to operate the business in your city, state, or country.
Depending on your location, you might also need to obtain a barbershop permit before you start business. You can start by contacting the appropriate regulatory agency in your state or country to find out more about the requirements for starting a barbering business, and fulfill all these requirements to avoid running into problems in future.
You can also visit the official website of your state or local government to research on the local legal conditions that you must meet to open a barbershop. Calculate needed costs You need to figure out how much you will need to start and run your business successfully.
Factor in the costs of leasing shop space, purchasing equipment and facilities, supplies and wages, and marketing. Also, it is important that you set aside an emergency fund.
Calculate the total budget that you will need to get your business up and running. You might want to add 20 percent of the estimated figure to your budget to cover for any hidden costs that might surface later. Write your business plan You will need to develop a business plan for your barbershop.
The business plan will detail your estimated startup costs, operating costs, staff requirements, advertising costs, target market, competition, and exit plan.
It will also include how much you can afford to spend on rent, how much you expect to earn in monthly profits, and how you will charge for each of the services you will render.
However, you must stick to your business plan throughout the whole setup process to keep your barbershop on track. Your business plan will also come in handy in case you need funding from third parties, such as angel investors or banks and other loan-issuing institutions.
Find a good location You will need to find a location near a shopping center or any other place frequented by your potential clients. A location that has already been zoned for barbering will significantly reduce your workload and eliminate the need for building permits or zoning approval.
Contact a broker that understands your business needs to find out about vacancies. Once you find your ideal choice, hire an attorney to review the details of the lease agreement before you go ahead to sign it.
This will save you from unforeseen problems with your property owner. Purchase the necessary equipment You will need to equip your barbershop with all the necessary facilities and supplies. Your equipment would include workstations for each barber, styling chairs, booster seats for kids, dryers and hood dryers, cabinet for supplies, chairs for the waiting area, containers for disinfectant, reception desk, floor mats, receptacle for towels, phone system, and point-of-sale POS register.
Hire more hands if necessary If you would be starting out all alone, you might delay this step until your business has grown. However, if your plan is to start on a bigger scale, you will need to hire other barbers to work with you.
However, you must ensure that you hire only well-groomed, licensed barbers. You should also develop a dress code policy for your employees.
Find ways to stand out Before setting up shop, it is important that you research other barbershops in your location—to get a good idea of how much you should charge and what services you should provide in order to get a competitive advantage.University Christian's Jaris Durden (15) and Kelvin Perry (5) celebrate after scoring as a Champagnat lays in the end zone in dejection during Friday’s loss in the Class 2A title game.
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Not sure where to start? Start your business in 10 steps. See the guide. We deliver the wholesale products your business needs to sell services on the nbn™ broadband access network to your customers. Make sure you choose an nbn™ powered plan that suits your needs. Choose a provider in your area.
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