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onlyoneredhead

posts: 2

Feb 07, 2009 8:50 PM ET Quote Report Abuse

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Anyone have any advice about opening a Barber Shop?

Loren

posts: 242

Feb 08, 2009 9:55 AM ET Quote Report Abuse

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Owning a business is a lot of work. It`s hard to see how

owning/running a barber shop could be worth the trouble -

it`s like paying rent to work at a job. Barbers get paid

by the haircut, but more importantly for their time.

It`s hard to see how you could get very prosperous doing

barbering. I haven`t read the book "the Wealthy Barber"

but you definitely should read it. It tells how even a barber

with a modest income can live frugally and save enough

money to be comfortable in old age.

onlyoneredhead

posts: 2

Feb 08, 2009 2:28 PM ET Quote Report Abuse

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Thanks so much for your advice- they say, (whoever they are) numbers dont lie- and every which way I do this it doesnt look like a winner! Your reply is greatly appreciated

WebJunky

posts: 549

Feb 08, 2009 3:34 PM ET Quote Report Abuse

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also - are you starting a business to become "free" or create a job for yourself? the later is more likely with a owner operated barbershop

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CraigL

posts: 9051

Feb 08, 2009 3:42 PM ET Quote Report Abuse

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Barbers and other associated people also often pay for a "chair." That`s a sort of rental fee to the owner of the shop, with a percentage of each cut added to that fee.

Loren

posts: 242

Feb 08, 2009 4:59 PM ET Quote Report Abuse

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You can make a lot of money as a hair-stylist though. I lived

in Malibu, California and down the road from me a superstar

stylist bought the only industrial-zoned property in the Canyon,

kicked out the craftspeople who rented the spaces, bought

a big house next to it and turned the whole shebang into

http://www.instituteofcourage.com/

The guy had at least 5 million in capital to buy the property

and set it all up. If you want to cut hair guys like him are

the ones to emulate, not the humble barber.

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