One of the smartest investments you could make is in the $56 billion male grooming industry by opening a barbershop. The recession-resistant business is built on recurring customers and satisfied clients who return to their favorite shop.
A barber business can be quite profitable for the right investor. Learn how to choose among the top barbershop franchises so that you can buy the best opportunity for you.
Is it Profitable?
Forbes finds that barbering is one of the fastest-growing professions in the country. Men are now looking to find their own stylists instead of going to their wife’s salon or popping into some chain with the name “clips” in it. Many male clients are realizing they deserve the same quality as women, which helps explain why this trend of higher-end barbershops is rising. According to Franchise Direct, the price for men’s cuts is catching up to women’s, with the current average being $40 to $60 per cut.
Of that $56 billion industry, Franchise Direct finds barbershop franchises to make up $26 billion of the equation. Additionally, Franchise Chatter predicts a 5% growth in hairdressing and barber franchises in 2022. This expectation is partly due to the economy returning to normal after the thick of the Covid-19 Pandemic. One of the first places many people went when stores began opening was their salon or barbershop. Clearly, places like barbershops play essential roles in their customers’ lives.
Behind a Successful Barbershop Franchise
So, what does a barbershop do to inspire its customers to continue returning? First, you’ll want to define your audience by conducting local market research. What type of barbershops seem to be popular in your area, and where could you find your niche? Does your target audience want a quick buzzcut, or are they looking for a quality haircut and an experience? Scissors & Scotch found the latter to be an underserved market. We offer a luxury grooming experience for men topped off with a cold one, a craft cocktail, or freshly brewed coffee. Clients can buy a membership with their shop and keep coming back to their favorite stylist over and over.
Top Barbershop Franchises
Franchise Direct lists V’s Barbershop, Roosters Men’s Grooming Centers, and Sports Clips among the top barbershop franchises in America. What makes them stand out amongst their competitors is that they each aim to offer a different feel for their customers ranging from the authentic, old-school barbershop vibe of V’s Barbershop to the quick service promise and sports-focused shops of Sports Clips. These particulars allow them to build a brand and create a target market to connect with. By doing so, they cultivate a loyal customer base.
Each of these franchises has been around for more than a decade, but there is one barbershop franchise emerging and combining all the best features of these businesses — Scissors & Scotch. Let’s compare:
|V’s Barbershop||Roosters Men’s|
|Sports Clips||Scissors & Scotch|
|Franchise Fee||$30,000||$39,500||$30,000||$40,000 – $50,000|
|Initial Investment||$197,000 – $422,750||$203,250 – $342,350||$266,300 – $342,350||$512,300 – $746,250|
|Net Worth||$500,000||$1 Million – $1.2 Million||$400,000||$1 Million|
|Cash Requirement||$100,000||$250,000 – $350,000||$250,000 – $350,000||$300,000|
|Training||45 hours||90-116 hours||162 hours||80 hours|
|Support||Comprehensive manuals, computer systems, pre-selected vendors||Business training, sales tracking, advertising, workshops for stylists||Site selection (GIS technology), comprehensive marketing strategy, stylist training||Market analysis, site selection, project management, management and stylist training, advertising|
While it may seem like Scissors & Scotch is the smaller brand among these men’s haircut franchises, it’s important to note that in our five years of franchising, we have 23 locations across nine states with more than 40 other shops sold or currently under development.
There is a method to determine these storefront locations. Our market analysis starts with researching a market’s size, demographics, and competition. It then leads into the site selection process and partnering with a real estate firm that looks into landlord reputation, co-tenant strength, traffic patterns, and other factors that could all benefit your bottom line. Other franchises don’t offer this much support through the site selection process.
No barbershop experience is required with us. Scissors & Scotch offers you and your stylists a comprehensive training program. We teach each stylist an advanced technique called clipper-over-comb, allowing them to tailor the haircut to each client.
Next Steps with Scissors & Scotch
Many other franchises have already saturated local markets, so stand out with Scissors & Scotch. Our growth potential is there; don’t miss your opportunity to take over the local barbershop market. Get started today by filling out our form in just under ten minutes.