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Opening a barbershop can be a great profitable business if run properly. According to the Bureau of Labor Statistics, the average annual revenue for a barbershop is anywhere between $200,000, to up to $500,000 depending upon the range of service and reputation in the market.

Keep in mind being a barbershop owner is not limited to those numbers by any means. Barbering depends on a multitude of factors that can drastically change the income of the barbershop as a whole. Your location and the quality of the barbers you hire is also a big factor. Try offering more services to your clients so they get the most out of your shop. Their work not only involves executing a precise haircut, but also performing any number of techniques to the face, scalp, beard, and mustache. Barbers trim, cut, shape, and taper hair. They also often provide facial hair maintenance, custom shaves, and several grooming services, such as Shampooing, Styling, Coloring, and Massages. Some barbers even provide services such as: Applying hair tonics, Applying cosmetic preparations to the skin, coloring, bleaching, or straightening the hair, and forming head caps for wigs or hairpieces. The equipment for a barbershop includes clippers, trimmers, edgers, shears or scissors, combs, disinfectant supplies, straight razors, hairdryers, styling products, and barber chairs.

In this video I will give you 3 options you can use to finance your barbershop if you do not have the required startup capital.