Opening a Business
Starting a Barbers' Equipment & Supplies Business
Here's some helpful information that is written for those who plan on opening a barbers' equipment and supply business. Make sure you consider this advice before you begin your venture.
Our goal is to supply you with the information you need to start a barbers' equipment and supply business.
Barber Shop Industry Overview
Once a staple of men's hair care, the barbershop business model has experienced more than its share of challenges thanks to the rise of unisex hair salons. However, today's barbershop industry is experiencing a revival, driven by barbers who are willing to evolve and take advantage of consumer demand for retro male hair care. In fact, there are indications that the barber industry is growing at a substantially faster rate than the beauty shop industry.
This is good news for prospective barbers' equipment and supply entrepreneurs. As the industry continues to evolve, it will be important for a new breed of equipment and supply distributors to revive the marketplace. Since startup barbershop supply distributors don't have to contend with the expectations of an existing customer base (comprised mostly of old school barbers), new distributors can introduce new products and pricing models that help modernize the industry.
Equipment & Supply Issues for Retro Barbershops
Retro barbershops represent a rapidly growing segment of the barber industry. Smart barbers' equipment and supply startups need to understand the factors that are driving the retro barbershop market and tailor their product lines to retro customers.
The essence of the retro barbershop trend is the customer experience. Retro customers crave old school cutting techniques, straight shaves and other trappings associated with the traditional corner barber. However, they also want the experience to be tailored and updated to reflect a modern-day cultural context. So for example, it's not uncommon for retro shops to incorporate traditional barbershop techniques and ambiences while the barbers themselves are tattooed and jean-wearing twenty year olds.
From a marketing perspective, your messaging needs to include both traditional and cutting edge promotional elements. Additionally, you will need to conduct thorough market research by interacting directly with barbers at the forefront of the retro barbershop trend.
How to Cast a Wider Net with Online Marketing Strategies
Unless you hold a dominant market position in a major metropolis, it will be impossible to generate sufficient revenue from the barbershops located in a concentrated, local area. To achieve long-term growth and sustainability, you will need to cast a wider net -- and the most cost-efficient way to accomplish that is through ecommerce.
Starting with a high quality business website, ecommerce allows you to distribute equipment and supplies to barbershop customers around the nation or even around the globe. The number of turnkey ecommerce solution available to startup entrepreneurs is growing exponentially and with a little effort, you should be able to find an easy-to-use ecommerce solution that is right for your business.
Business Plans 101 for Barbers' Equipment & Supplies Business Startups
Startup entrepreneurs slave over the creation of their business plans, investing countless hours in the details of their startup strategy. But your business plan won't be finished until you've included material about your industry.
The absence of a thorough industry analysis may incline lenders and/or other external stakeholders to take a negative view of your company. Industry analyses are critical for contextualizing your startup within an industry setting.
To succeed, you'll need to be careful to avoid common industry analysis mistakes and to accurately represent your startup in an industry context.
Look Over the Competition
Long before you open a barbers' equipment and supply business in your town, it's a smart move to see how you will fit in the competitive landscape. We've provided the link below to help you find competitors in your city. Just enter your city, state and zip code to get a list of barbers' equipment and supply businesses in your community.
Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in.
Turning Competitors Into Collaborators
If you are seriously contemplating launching a barbers' equipment and supply business, it's a smart move to learn from folks who are already in business. It's very unlikely that the local competition will talk to you. Why would they want to educate a future competitor?
On the other hand, an individual who has a barbers' equipment and supply business in another town can be a great learning resource for you, once they realize that you are not going to directly compete with them in their community. In that case, the business owner may be more than happy to discuss the industry with you. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
Where does one find somebody who runs a barbers' equipment and supply business that lives outside of your area?
It's easy. Here's a link you can use to find a mentor outside of your area.
Gaining Access to Barbers' Equipment & Supplies Business Ownership
Some entrepreneurs buy existing barbers' equipment and supply businesses, while others plunge headfirst into a barbers' equipment and supply business startup. There are a lot of benefits of buying a barbers' equipment and supply business.
If you're on the fence consider this: There has never been a better time to acquire a barbers' equipment and supply business. The down economy has resulted in a glut of available businesses, many of which can be acquired for bargain prices.
Don't Forget About Franchising As an Option
Purchasing a franchising speeds up your startup process via access to a proven system developed by the franchisor.
If your goal is to start a barbers' equipment and supply business, you may want to determine whether franchising might alleviate your startup process.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
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