The barbershop industry is still booming up to this day. Barbershops are in demand because everyone needs a trim, haircut, or shave regularly. You may think that employing skilled barbers will bring in more customers; however, that’s only a piece of the whole pie.
Only with proper planning and strategy will a barbershop display potential for income and growth.
If you’re an existing barbershop owner or just starting, here are eight effective hacks to help you run a profitable barbershop:
1. Identify Your Target Market
A good entrepreneur knows that the first thing to do before starting any business is to decide on a target market. Everyone—children, adults, and seniors—needs a haircut from time to time, but selecting a specific group of customers will make you more focused on satisfying their needs and preferences, thereby accelerating your success.
All facets of your shop should agree with your target market—from your shop location to the barbers you’ll hire and the services you’ll offer.
For example, if your target market is comprised of business people, you might want to open a shop in a location near large corporations and business firms.
Or, if you’re doing haircuts for children, you might consider hiring barbers who are friendly with kids. Once you find your target market, you may start building your clientele.
2. Create Your Brand
Most barbershop owners tend to commit the mistake of ignoring branding. Sure, you may have come up with a name for your shop, but branding is more than just your shop’s name. Branding includes your shop’s logo and theme.
Though not necessary, branding may also include your shop’s tagline, which could be something like ‘Masters of Barbering.’
The logo is the first thing people notice in a business; it helps prospects and customers identify and remember your shop. The more striking your logo is, the more your shop will remain in people’s minds.
Additionally, selecting a unique theme for your shop sets it out from other barbershops. This unifies your shop’s color scheme, interior and décor, and employee uniforms, among other things.
3. Provide Unique In-Store Experience
You may invest in barbershop software through which customers can book appointments and process payments virtually prior to visiting your store to save time. On the day of the appointment, try to give them an extraordinary and relaxing experience.
You may provide them with refreshments like cookies and orange juice while they wait. Train your staff to be polite towards clients and always ready to assist.
For instance, barbers may become acquainted with their clients by initiating friendly conversations that’ll make them feel comfortable.
Above all, make your clients feel appreciated and provide outstanding services that they’ll want to use again.
4. Market Your Business on Social Media
Before, traditional barbershops depended on word-of-mouth advertising to gain customers. Now, with the development of technology and the rise of social media, word of mouth has gone online!
One client may share their great experience being in your shop with their friends on Facebook or Instagram. This is a free advertisement from a satisfied client. Nice, isn’t it?
Also, having a social media presence allows you to share your work (with the client’s permission) with the world. You may post before-and-after shots or client testimonials on your store’s social accounts.
Your content may also be about the newest trends and techniques in hair styling or grooming. A single retweet or re-gram of your posts, it accumulates, has the potential to go viral.
With that being said, you should establish a strong social media presence and market your shop online to attract more potential customers.
Having a business website is another way to boost your shop. With it, people online will find your shop easily, and your business will appear to be more professional. Information like pricing, store hours, location, and contact details should be displayed clearly on the website.
Client testimonials and reviews may also be posted on the website to attest to your shop’s reliability and credibility.
5. Upgrade Your Payment Methods
Nowadays, customers may opt for fast, cashless transactions, particularly when they have no cash on hand. Upgrading your payment methods can help with the business process and respond to customer demand accordingly.
By adding a payment processor (terminals or hardware), your customers will be able to pay via debit and credit cards, enhancing their in-store experience.
Moreover, having an online banking payment option can also make the process quick and easy both for you and your customers, allowing for mobile payment services without hefty fees through just a couple of taps.
6. Offer Retail Products
Another way to generate more income for your shop is by offering special retail products. Many barbershops tend to miss this opportunity to make more money.
Special products like hair shampoo or styling gels may help promote your shop’s brand while earning you additional profit.
Clients may think of your shop whenever they use your product, especially if they’re completely sold out for it.
Try to sell unique products that are hard to find at bigger retail shops, like a leave-in conditioner.
If clients love these products and can only get them from your shop, then they’ll potentially be your repeat customers.
7. Offer Promotions
Another way to generate more profit is to offer promotions and discounts. Time after time, you could give your customers a 5% discount on slow days like Tuesday, or you could give a free shave with every haircut.
Apart from that, you can offer promotions by starting contests with giveaways and prizes on social media. Be creative! Offering promotions will help generate leads and grow your audience.
8. Set Up a Loyalty Program
Establishing a loyalty program for your returning customers is another hack to increase income. Create a program that rewards customers with a freebie after a number of visits.
Having this kind of program will make customers feel valued; hence, they’ll come back for more. Rewarding customers for coming back will allow you to keep them and attract more.
Conclusion
These are only eight of the many ways you can use to make your barbershop profitable, but they’re effective hacks. By selecting a target audience and coming up with an eye-catching branding, you can make your barbershop known as it grows.
Offering your customers a unique experience will set your shop apart from its competitors. Also, having a social media presence and website is important for building the shop’s clientele.
Lastly, rewarding your clients through giveaways and loyalty programs is guaranteed to attract and retain customers.
By taking advantage of these hacks, your barbershop will surely grow and generate more profit.
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