Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$600

$4,700

Equipment & Supply Expenses

$66

$1,200

Retail Business Expenses

$1,250

$11,650

Inventory Expenses

$300

$10,000

Advertising & Marketing Costs

$75

$5,036

Software Expenses

$150

$2,420

Total Startup Costs

$2,815

$42,573

Floyd's 99 Barbershop

floydsbarbershop.com

174,162

BarberShop.vn

barbershop.vn

354,203

Barber Depots

barberdepots.com

394,019

V's Barbershop

vbarbershop.com

594,597

Peoples Barber

peoplesbarber.com

632,546

Arrow + Pedro Williams

guaranteedshorterhair.com

649,001

Nearcut

nearcut.com

677,297

Razors Barbershop

razorsbarbershop.com

806,230

The Barbers

thebarbersonline.com

838,413

The Barber Institute of Fine Arts

barber.org.uk

875,559

Imperial Barber Products

imperialbarberproducts.com

1,087,056

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Meaningful business connections

You never know who you will meet as a barber shop. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Control of workload

With starting a barber shop, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Unlimited income potential

With starting a barber shop there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A barber shop can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Low margins

The gross margins for your barber shop are typically around 9%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the barber shop, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

Taxes

As a barber shop, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.