How Much Does It Cost To Open A Barbershop?
If part of your entrepreneurial dreams is to learn how to open up a barbershop, then you are in for an exciting journey. This is considered as one of the most lucrative businesses in the world. For the success of your businesses venture, you will be required to invest time and resources to ensure that you provide first-rate services and a traditional barber experience.
Factors For Determining the Cost of Opening a Barbershop
Barbershops provide shaves, haircuts and grooming services for men. Apart from having the skills and the enthusiasm of opening up this business, there are a number of things that are required. These include a business plan, a marketing strategy, a license, equipment specific to this industry and source of funding.
Location and Facility
Unless you have a lot of money, a leased space is cheaper and better than a commercial real estate purchase for a business start up. Establishing a shop in a prime location will definitely be more expensive. If you are renting a facility, the shop size will determine the amount of rent you will be expected to pay either monthly or yearly.
In many states, before opening a barbershop, you need a master’s barber license, which require training and passing an assessment test. This is a requirement to ensure the set safety and health standards are adhered to. You thus need to undergo training from a recognized barber school to obtain the skills relevant to this venture. You also need an employer identification number, Federal tax identification number and sales and use tax identification depending on your state.
Shop Requirements and Equipment
If you want your business to be taken seriously, there is certain basic equipment that you should have. Comfort and aesthetics are important consideration when buying equipment for the business. If you go for the most comfortable, state-of-the art equipment, be prepared to spend some money. The equipment you purchase should meet state standards to operate the business.
Equipment Required When Opening a Barbershop
Besides the office space, you need various barber equipment and supplies in your barber shop. They will form the backbone of the business and help it to function normally. Examples of equipment and supplies you will need include:
- Barber chairs, child seats and seats for the waiting area
- Scissors, clippers, trimmers, razors, brushes, mirrors etc.
- Disinfectant chemicals and sanitizers per station
- Spray bottles, neck dusters, talcum powder, towels
- Garbage cans for waste products and ‘to be cleaned towels’
The actual cost of establishing this business varies. It depends on various factors like business location, service quality, size of shop, number of employees, equipment purchases and the cost of obtaining business licenses and permits. Before establishing a barbershop, ensure you have the skills from a reputable school and also create a business plan that will help you get a loan.