A Barber Shop is one of does business that we all get into either as a customer or as a business owner. Ever since I can remember I’ve been getting my hair cut and the only times I have ever changed barbers or even barbershops, is when I move from one location to the next. So the business does have this unspoken loyalty program. Key Questions Answered 1. Start Up Cost - You would need to buy the barbershop from a current owner then negotiate the lease with the landowner ($10,000 to $150,000) - You could also just negotiate a lease a new spot and create a barbershop from scratch ( maybe three month deposit on the lease and youll have to buy all the equipment and build up the client base ) - Each chairs brand new: $479 maybe a 100 lower or hundreds of dollars more if you want to be fancy. Remember Shipping is a lot of cash like $126 per chair or more 2. Expenses Rent Utilities Light, water, internet, cable Business tax Commission if you decide not to rent the space per barber Maintenance: employee to handle cleaning: 400 a month Trash pick ups: $10-$50 a month 3. Profits Example you have 6 Barbers: each pay you $220 per week = $1320 a week profit Monthly: $5,280 Keep in mine when barbers are new the prices will be lower because they are just starting. Or they could be on a percentage base 4. Challenges Competition Creating a client base Maintaneince Ideas I feel as if a barbershop is one of does classic business that is just waiting on some new renovations of some sorts. Maybe subscriptions or something like that. Imagine: A barbershop where you pay 100 a month, get 4 haircuts a month plus special perks like man shacing creams and stuff sent to your house. Link: www.buyritebeauty.com/chairs/barber-chairs/
Hey I just ran across your video. I have a BA in Business Admin, Im a certified barber instructor, and I own 6 barbershops in Jacksonville Fl. I am the largest single multiple location owner in the city and I do appreciate you tackling this issue for people to view. However, I think you should add the fact that if a person Nets 650 a week, how long would it take to recover their initial invest of like 30K. Technically you are NOT making ANY money at all until you first recover your initial investment. There's tons more that goes into it the successful operation of a barbershop. However ONE strong piece of advice that I ALWAYS give: do not ever open a business that you CANNOT perform YOURSELF. If you cant bake;DONT open a bakery!
That’s awesome and congrats on the success, not sure about the different markets as far as Jacksonville. And 100% agree you gotta some of the business before starting it. I have a little over 10 clients that own barbershops and this has been my experience checking their books and business.
That’s the dam truth. I would never recommend a non barber open up a shop unless money isn’t an issue and they’re okay with the whole thing going under if they lose all their workers.
Some of the best businessman and businesses in all diff industries are started and or run by a person who doesn't do or have done the field work. Example non plumber owning a plumbing company, etc... the key is having the right team and or consultants to aid in that. If u plan well, account for all the costs involved, have reserves, have the team aka a mentor(a successful barbershop owner or 2), accountant and a business entity structure type of lawyer then u will be fine. It's all about a team of well informed people who are experienced in there field to help u piece it all together. It's how Andrew Carnegie went from a poor Scottish immigrant to the richest steel manufacturing tycoon in the industrial age, Charles Schwab, John D Rockefeller, John P Morgan, etc... it's all about the the mastermind team that u must take time n money to foster and cultivate those relationships before u begin ur plan. It's not all that expensive to do and if u don't do it like that u r sure to have more expensive mistakes all becuz u were to cheap and or lazy to plan n prepare properly
He is, mostly because it depends on where you open a shop. If you’re where I’m at in Mid Michigan it’s a lot less than that to start up a shop but it takes longer to build a base with less people.
That’s actually really good! I would not spend more than 45k remodeling a commercial property I’m trying to find one out in Texas due to cheaper living expenses great video.
I mean here’s the thing even if you only make 4000$ in profits a month you can put your side businesses in there and then when you get more clients you can expand too new areas imagine making 4-5K a month passive income on 2 barbershops and then it can turn to 3 and then it can turn too 4. Also the more known you are the more the clients will come too that shop, the happier the barbers and the more money they earn the more you earn as well. Think big not small guys. This is a long-term investment for sure and a great one at that! Great video man keep up the great work!
How come when I see Tommy videos I just wanna open every business he tells me about lol 🤔 .. Also loves when he says,” I know your saying HOW TOMMY,” ..fr though, smart and talented person.. and I appreciate all the free information!!!!
That’s not always true, when it comes to getting barbers, most barbers already have their daily loyal customers. It’s mainly just the environment. Just gotta know who you get as for barbers. But then again, if you trying to get fresh new barbers with very little experience and no loyal customers, the reputation of the barbershop might devalue and less people will want to go. It’s always best to get em experienced. Make sure they have pics and a portfolio. It’s all about connections and the environment tbh. Don’t just rent out the space to anyone. Make them want to come to you. Networking is key
1. I dont know any shops with 8 chairs in it these days. 2. NET profit is take home Gross profit is the money your business takes in before expenses. Good topic tho
So me and my friends had the idea of owning a barbershop together and this is the first career idea that I’ve genuinely liked. We’re still in highschool but a few of us want to get into barbering and eventually all put into opening a shop. Is this a good idea
Kevin Saldaña that’s a great idea bro ikkk people that have done that where I live and they’ve been open for 11 years now and they all still work there and have great conversations
Ok ,my opinion, if your a barber just starting out , and you wanna make , 800 to 1000$ a week .. it will take you at least 1 year and up to get there.. And thats if your the type of person thats DRIVEN.. meaning , your the first one to the shop and last 1 to leave.. THIS SHIT AINT EASY, it also depends on the atmosphere of the shop , meaning the co workers..
Most landlords won’t let you sublet any portion of the building. My lease prevents me from renting out chairs in my shop. Also depending on the state the owner can’t cut hair in a rental shop. And you need to keep it very clear on paper that it’s separate business. You need an llc, my state cost $700 a year. You can’t give discounts on rent for new barbers because some states see that as taking away the entrepreneurial risk. If you kick out a renter they can go to the labor board and you will owe them all the taxes that should be withheld.
It all depends, I can’t tell you to break the law but I have 3 barbershop owners that are my clients. And they all either work by renting chairs or by percentage. And he pays them al on a 1099. The idea is to follow the law and know the loop holes that rich people pay millions to use every year. And the llc formation is cheaper with legalzoom. Barbershops 💈 is by far one of my favorite businesses
What about starting a 'mobile' barber shop, you know how they like have mobile food carts, well who's to say could not create first mobile barber shop, and or even 'come to your house and cut your hair' barber shop...in these new times, you need to learn how to think outside the box instead of brainwashed to give all your money to those at the top...yes, no?
Lol Calgary canada , my brother opened a shop only 2 barbers 2 chairs, vending machine, 12k easy. Its a unisex with girls bridal makeup, threading etc etc and also cotton and woolen dresses on display. New location both new barbers with a fresh license. 20k DIY interior including everything. I dunno what are you talking about
And now with the first comment soon ATM machine. But yeah interesting video though u cud give so many more ideas, u have no idea how much girls spend on there hair and face
Hello, I’m wondering if you can give me any advice on how to find barbers for booth rent or comission? I opened a small, 2 station shop coming up on 2 years but have yet to find someone to rent my second booth. Thanks in advance for your time!
Hello my name is jerry , i made my 2 year anniversary in october 2019, i have the same problem, the conclusion i came to is this.. you have to get someone thats fresh , beginning in the industry and build them up from the bottom up.. Problem with finding established barbers is super hard for this reason. Established barbers are 1. They Are running there own shops already. 2. If they dont have there own shop, the owner of the shop recognizes there worth and have them on really good terms to good for anyone else to compete with. .. 3. Compition is to great, meaning , for instance , im in chicago, there are barbershops on every block, and theres like 5 to 10 stations in each shop, high percentage of witch employ unlicensed barbers, .. i blame the department of professional regulation.
v 300 thanks for the detailed explanation, you make some great points! Congrats on 2 years! Guess I will check out barber schools, only thing I’m concerned about is, it might take a long time for them to build up enough clientele to be able to pay rent. and I’d hope to find someone loyal and committed. I shall see..
Tommy what’s up my friend this is a great video I don’t know how to cut hair but I have a friend who rents a small little suite by him self and cuts hair in Gilbert Arizona he tells me let’s start a barbershop together and call it senatras hideout let’s go 50/50 15,000 each 30,000 he said to open a barbershop with 6 chairs I said why 15,000 why not 7 or 8 he said because the chairs and remodeling are expensive and down payment what do you think bro I work full time now have a steady job should I go into a barbershop business with him and try it will it be worth it he said we will make like 3,000 -4,000 each a month what do you think bro I need your advice ?????
DONT DO IT, if your not a barber by trade , don't do it.. one of the major problems with this profession is that it has turned into just another hustle , i blame , the department of professional regulation for that, also the dissolving of the barber union.. i could go on for days .. being a barber has trended like a fudging fad, and it attracts lazy people who think shits easy.. i could go on for dayz
I see my self in future cutting hair for living i really like doing that but is it worth it ? like i would love to open barber company's in my future is it worth it ? to live good life ?
Gotta contact commercial property owners, and the best place to go and ask is probably the owner of the shops and see if they are selling. If you work in a barbershop now, it’s better that way you know how the game works
Hey Tommy I opened a barbershop from scratch. I will be open in couple days, its a good location a lot of houses behind my plaza and 50,000 vehicles 2 way traffic driving by my barbershop I ordered 2 big flags in front of my shop and signs around the houses with pointing arrows guiding the people to my shop. Also of coarse social media as advertisement. Any more ideas you could tell me to bring in clientele?
@@brianandmarley10 I'm killing it especially after the lockdown we had recently, flags and all the marketing are bringing in alot of traffic from 0 - 7k a month now 💪the flags are very elegant each one is $300
@@v300-f8v it's working man 0 - 7k a month especially through the pandemic now, with all the marketing and flags put together still winning, always ask customers how you heard about us, flags, Google or social media all working together 💪, the flags costed me $300 each thier not those cheap wrinkled flags, they are high end very classy flags
Depending on how many people you have working for you, i have a client that makes 1300 a week with 5 barbers and does work. If he had 5 shops that would be 6500 a week 😎
Hi Tommy, I recently bought a barbershop in Magnolia,Houston TX, looking for barbers and someone who can help get it up and running. I am not a barber, its a very new territory for me, i need help.
Im a girl. Im going into the barbershop business. Im going to get all the guys to come to me. Let me cut their hair. Competition wont be shit to me. A female barber right here. Lmao.. Imma be rich bitch!!!
