Money-Making Ideas for Barbershops

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Successful barbershops maintain a constant stream of existing and new customers to minimize downtime. Whether your barbershop has been in your community for generations or is the new kid on the block, you can make money by introducing a theme, selling customized products, offering additional services and maintaining competitive pricing. Making money at a barbershop relies on professionalism and high-quality services that keeps clients returning while offering options that increase profits.

Theme

  • Create an environment in your barbershop that caters to your customer base. Consider a sports-related theme, business theme or family theme. The theme you select should enhance your business image and draw in additional customers. If you have a sports-related theme, sell tickets to local sporting events and offer game day discounts to your clients. For a business theme, offer quick lunchtime service and televisions tuned to a business channel.

Products

  • Sell the products you use to your clients and consider creating private label products. You can work with manufacturers of products you like to put their products in packaging that features your brand or barbershop name. These products will enhance your barbershop's image. When you pair high-quality products and private label prestige, you can increase revenue and your barbershop's profile.

Additional Services

  • Offer additional services to your clients. Consider spa-like services such as massages, manicures and pedicures. While many barbershop clients would not seek out these services in traditional venues, they will appreciate the opportunity to obtain these services in a more masculine environment. Consider offering father and son services that will help your clients win favor at home and can provide them with a great parent and child activity.

Monitor

  • Monitor your competition carefully and match or counteract their specials and discounts to retain customers. No matter how superior your barber services rank versus your competition, some of your clients are price sensitive. Keep your price monitoring customers happy by keeping prices and offers on an even par with your competitors. The goal is to match prices but not turn competition into a pricing war. Offer to match coupons or prices and keep your client base high.

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