When you are thinking about purchasing a franchise, consider a barbershop franchise opportunity. Barbershops have evolved from the days of old when they just offered haircuts and a shave.
They are centers of the community where males are able to unwind after a stressful day, and they’re also now fantastic business ownership opportunities.
The Barbershop Industry
When you are looking for a stable industry to invest in, look no further. The barber industry, now valued at $4.9 billion, saw an annualized growth rate of 5.3 % in the years leading up to 2020.
Men (and females too) are actually spending on average thirty dolars on each haircut. Because of the frequency with which short haircuts have to be maintained, that is steady revenue from most clientele. And in case you also offer hair care products, you are able to see much higher sales per transaction. In reality, eighty one % of all male’s grooming products are actually sold in brick-and-mortar locations as barber shops.
Barbershop Franchise vs. Startup
If opening a barbershop excites you, know you’ve 2 options. You are able to begin a company from scratch, finding commercial real estate, building the marketing plan of yours, ordering products and equipment and then finding clientele. Or perhaps you are able to open a barbershop through an existing franchise program, taking advantage of systems and branding development which has already been done.
The investment you make in a barber shop franchise in part covers the groundwork that’s been laid out to make sure that your franchise has a support system in place to help you in case you’ve questions, and also advertising programs that makes it easier to attract new clientele.
Lots of business people find that being franchisees gives them unparalleled potential to quickly grow a business and thrive, because of that support. And in case you have never had a company before, a franchise may be the best path to helping you understand the ins and outs of business management and strategy.
Allow me to share a six reasons more to think about purchasing a barber shop franchise.
1.People Know the Brand
Everyone is particular about who they let cut the hair of theirs. As a startup, you and your barbers may be an unknown quantity to potential customers, but in case you buy into an existing franchise system, you ride on the standing of that brand.
The Ultimate Barber has won numerous awards in Virginia for its stellar customer service and top-of-the-line products, and franchisees can leverage that reputation with their own spots.
2. Loyalty is actually Nice, But Not Necessary
The fact that seventy one % of males stay loyal to the barber of theirs for an average of 7 years is actually nice…but what happens if that barber is not available or perhaps moves? The Ultimate Barber trains each and every barber exactly the same so that, if Ted is not available, a client is able to sit in Bill’s chair and get the same high quality cut..
3.Revenues Actually are Consistent
With a startup barber shop business, you’ve no way of predicting the revenues of yours. But with a franchise, you are able to take a look at historical data for some other locations to understand what the potential is actually for your personal location’s revenues.
Additionally, having the support of the franchisor is able to help you find strategies to entice new customers also as maintain loyal ones, and increase those potential revenues.
And because males get their hair cut on average every 3.8 weeks, you’ve recurring revenue which is not heavily impacted by economic conditions.
4. Startup Costs for a Barbershop Franchise Actually are Low
Due to those established franchise systems, it might be more cost effective to buy a barbershop franchise than opening your very own shop. The franchise has streamlined the business model and startup costs, and that means you might spend less up front to start seeing those recurring revenue streams.
5. Technology Can Take You Farther
When you invest in a franchise like The Ultimate Barber, you are able to leverage the technology tools that attract customers and optimize operations. Our proprietary app lets clients book appointments, check in upon arrival, and win prizes. As a franchisee, the clients of yours are going to have access to this exclusive app.
6. There Actually are Systems in Place with Barbershop Franchises
From the outside, running a barber shop business might seem simple enough, but as an owner, you will quickly realize the amount of responsibilities you are going to take on, from finding and managing a payment processing system to ordering hiring and supplies and training staff.
With a barbershop franchise, all of this’s laid out in easy-to-follow systems. You’ll be given direction on what payment system and technology to use to run your franchise smoothly, and the franchisor will teach you established processes for training and staffing to guarantee a regular experience, no matter who the barber is actually. You might also be given preferred suppliers for haircutting products and equipment. The fewer decisions you’ve to make in your barber shop business, the more you are able to concentrate on growing it.
We all dream of building a rewarding and secure future, and also for those of us with entrepreneurial tendenciesHealth Fitness Articles, those dreams are actually big. Purchasing a barbershop franchise is able to make those dreams a reality – possibly even better and quicker than by opening an independent business on your own.