There’s no denying that starting a barbershop can be a costly endeavor. Between the cost of renting a space, outfitting it with the necessary equipment, and hiring staff, the expenses can quickly add up.
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Fortunately, there are a few ways to save money when starting a barbershop. By being mindful of your spending and utilizing some creative cost-saving strategies, you can keep your barbershop start-up costs under control.
Here are a few ways to save money when starting a barbershop:
Rent a small space.
One of the biggest expenses when starting a barbershop is renting a retail space. To save money, consider renting a smaller space than you initially had planned. A smaller space will be less expensive to rent and to outfit with the necessary equipment.
Purchase used equipment.
Another big expense when starting a barbershop is the cost of outfitting the space with equipment. To save money, consider purchasing used equipment instead of new. You can find used equipment in good condition at a fraction of the cost of new equipment.
Hire independent contractors.
Instead of hiring full-time employees, consider hiring independent contractors to work in your barbershop. Independent contractors are self-employed individuals who are not considered employees of your business. As such, you will not be responsible for paying their Social Security or Medicare taxes.
One way to attract customers to your new barbershop is to offer discounts. You can offer a discount for customers who book their appointments online or for customers who pay cash.
Utilize social media.
Social media is a great way to promote your new business. Create a Facebook page and a Twitter account for your barbershop and make sure to populate them regularly. Use social media to offer discounts and promote special promotions.
By following these tips, you can save money when starting a barbershop. By being mindful of your spending and utilizing some creative cost-saving strategies, you can keep your barbershop start-up costs under control.