Barbers have a unique opportunity to pursue their passion and do what they love while also making a living. In many ways, it’s the dream that most people dream of achieving—doing what they enjoy for work. That doesn’t mean it’s easy, though. You still have to prioritize your livelihood by maximizing the money you can make as you embrace your barbering interest.
Striking a balance between business and passion can be challenging. From managing rising inflation to treating your customers fairly while trying to build your career, there are distinct hurdles to overcome. Finding ways to manage the pressures of finances while still pursuing the work you love is key to your longevity and success as a barber.
So, when you can save money at your barbershop without sacrificing quality or compromising hard-earned relationships with your clients, it’s the definition of a win-win. That’s why we’re here—to give you some money-saving hacks that may just unlock the full potential of your barbering business.
Save Money Without Compromising Quality
When attempting to save money or cut costs, there is always a risk of overdoing it or compromising something integral to your business (such as quality or the services you offer) in the process. Thankfully, there are a handful of money-saving hacks that can save you a bundle without presenting those complicated “either/or” dilemmas.
While there is something to be said about physical goods in a digital world, transitioning away from paper can save your barber shop business in the long run. Using paper goods for scheduling, payment, and so forth adds up quickly, especially when you consider the cost over the course of several years. By opting for paperless operation, you can reduce these expenses, if not completely eliminate them.
There are numerous services that will help streamline your daily operations without the use of paper. While these services do come with a price, the headaches they prevent and the paper they save are worth it for most barbers, especially over time.
Buy Product in Bulk
Whether it’s retail products you sell in your barbershop or the products you use every day as you service clients, you can save a substantial amount of money by purchasing them in bulk. Not only does this allow you to reduce your overhead on items that are absolutely essential to your work, but it also can be convenient and make your ordering process easier.
It takes a bit of work to determine how much of each product you use and sell in a given period. Some trial and error might be required, but once you solidify your ordering schedule, you can reduce your expenses while streamlining your balance of product stock and usage. This principle can be applied to everything from beard oil to trash bags. Once you grow accustomed to it, you’ll wonder why you didn’t convert long ago.
Simplify Your Décor
Having an aesthetic and welcoming environment in your barbershop can attract new clients and make guests feel at home. It can also help establish your brand image, flex your creative muscles, and embrace trends, both seasonal and otherwise. Unfortunately, it can also be extremely expensive, especially if you’re someone who enjoys keeping things fresh.
By keeping things simple, reusing temporary displays, and opting for thrifted or recycled décor, you can have your cake and eat it, too. It may take a little work, but we have no doubt that you’re up to the challenge!
Encourage Repeat Business
A reward program may not seem like a way to save money—you’re offering discounts and freebies, after all—but in the long term, they help you reduce costs. The logic behind this approach is simple—it is more cost-effective to keep clients than it is to attract new customers. By encouraging loyalty in the form of a reward program, you can boost return visits for both barbering services and product sales.
Leverage Social Media
For many small businesses, barbering included, social media has been a marketing game-changer. For little to no cost, you can reach a practically unlimited pool of potential customers. This is one of the most efficient ways to increase the visibility of your business and attract people to your barber shop. Whether you have a large following already or are starting from scratch, a bit of effort and creativity can lead to opportunities beyond your wildest imagination!
If you are trying to save some money while retaining the high standards of your barbering shop, there are several ways to do exactly that. The five examples above are a great starting point, and you can easily build on the momentum they create.