So, you have started your own business as a barber. Not only is it a huge step for you to start your own business but it is also extremely rewarding. But what are the next steps you should take? What do you have to put in place to make sure that you transform your business into the empire that you have been dreaming about?
The truth of the matter is that there is no secret formula to success. Of course, you should be prepared to work hard, dedicate yourself to your barbershop, and not be afraid to take risks. There are a few other things you could do to start making six figures as a barber. Read our article to learn more about it.
Make Sure Your Business Is Protected
This is the first thing that you will need to have a look at, and we know it’s one of the more boring topics to think about, but it is essential for the longevity of your business. Reducing the risk to your business entails a lot of paperwork, permits and policies, but this can help you reduce the risk of losing significant money in the future due to something unexpected happening.
The first thing we highly recommend is taking out business insurance on your barbershop. This will not only assist you in protecting your property, equipment, and stock but it will also protect you against any potential lawsuits from staff or customers.
Barber insurance costs will mostly depend on your specific needs, the work you do, the number of employees, your location, etc. So, in order to get the best possible coverage, make sure to contact reliable insurance providers who offer personalized insurance packages.
Create a Business Plan
A business plan is a crucial element whether you are just starting or looking to grow your business. Many people tend to overlook a business plan, however, this is the single most important business document.
First, it allows you to map out the crucial elements of your business. Your customers, your competitors, the current market, your USP, and the strategic trajectory for your business. What do you hope to achieve in the following 6 months, a year, and five years? What goals do you have in place to reach and how are you going to reach them?
This can not only be a blueprint for your business and for you to set goals, but your business plan will also come into use for investors and stakeholders. However, don’t forget to review it every once in a while as your barbershop grows and reaches new milestones.
Focus on Your Marketing
Running a profitable business is impossible without a solid marketing strategy. In this day and age, marketing has become more streamlined and easier to achieve with online, digital channels. The first place to start with any business is the website. Your website is your calling card, sales platform, and engagement channel for your customers. It is through this that they can get all of the information they need about your business and actually visit your barbershop.
From there, you will need to look at your digital marketing channels. You will need to be present on social media channels such as Instagram or Facebook. All of these will need constant content, so make sure you are taking pictures and creating copy that is enticing and reflects your brand.
Take Advantage of Affiliate Programs
We mentioned this earlier, but what exactly is it? Affiliate programs really entail the sharing of content and marketing with other parties. These can include media partners, other websites and businesses, or micro-influencers.
Let’s take the micro-influencer as an example. You will want them to market your brand and business to their audience. So, choose your partner carefully. Who has a good list of highly engaged followers who will be guaranteed potential customers for you?
Approach the influencer with a campaign idea and incentive program to partner with you and encourage them to promote your barbershop. A great idea could be to contact a local musician who has some clout in your community. You can get them to promote your barbershop both online and offline by providing them with grooming services.
The Bottom Line
Making six figures as a barber is certainly not an easy task, but it’s possible to achieve it. As long as you truly believe in yourself and follow your passion, you are already halfway there. Be sure to follow our tips if you want to increase your chances of success. Good luck!
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