As the year draws to a close, the way you finish sets the tone for you to start the next year. Finishing strong and carrying momentum from one year to the next is not only a great feeling but also a way to set your business up for continued growth and success.
One of the best ways to end the year on a bright note and kick off the upcoming year smoothly is to do a little house cleaning. By this, we mean taking care of necessary but potentially tedious details that are integral to your barber shop thriving.
By creating a checklist of the end-of-the-year goals to accomplish, you can streamline the process and ensure that you are on the right track as one year transitions to the next.
How to Finish the Year Strong as a Barber
Every year, there is a list of assorted tasks to take care of if you want your barbershop to remain running on all cylinders. While your list may look slightly different from the shop down the street, the basic principle remains the same—check off the items on the list, and your barbering biz will continue to thrive.
With that in mind, we’ve put together a helpful guide that you can use to ensure you’re finishing the year strong. All you have to do is adapt it to your unique needs, and you’ll set your course for success in the coming year!
Renew Expiring Licenses
As a barber, it is essential to keep your various licenses and certifications up to date and valid. Failure to do so could get you into trouble with governing bodies, damage your reputation, and set your shop back significantly.
By planning to renew said licenses at the end of the year, you not only remove the stress of impending expiration for another 12 months, but you also create a sustainable pattern. Every year, you renew at the same time, making this vital task easier to remember.
Secure Better Product Rates
There are certain products you use every day around your shop. From shampoos to cleaning supplies, the cost associated with these products can be significant, making it extremely important to get the best price possible.
Evaluating your product consumption and spending at the end of the year presents an opportunity to find better pricing for the next year. Be sure to shop around, weigh your options, and choose the best product ordering opportunity for your barbershop.
The same applies to products you sell in the retail section of your barbering business. Take inventory of what products customers bought and which products they didn’t. Consider your margins and determine which retail products are worth offering. Then, find the best wholesale pricing possible to help your barbershop grow in the coming years.
Evaluate Your Automatic Renewals
There’s a good chance that you utilize automatic renewals to keep your shop humming along smoothly. While convenient, these automatic renewals are easily forgettable. They can sneak up on you and lead to unnecessary spending if you don’t stay on top of them.
The end of the year is the ideal time to take stock of the automatic renewals you are subscribed to. Whether they are for physical products or digital services, determining which you wish to retain and which you can do without (or wish to replace) can save you a bundle.
Get Insured
As your barbershop grows and evolves, maintaining the right insurance is essential. This means renewing your current policy or opting for new barbering liability insurance to match the trajectory of your business.
The importance of liability insurance for barbers cannot be overstated. Not only does it give you the peace of mind to practice your craft with confidence, but it also protects your livelihood, assures your customers that they are in good hands, and creates an environment where your barbering business can thrive for years to come.
When shopping for a liability insurance policy, be sure to find one with complete coverage. It should include general liability insurance and professional liability insurance at a minimum. When in doubt, talk to an expert to evaluate your needs and ensure you’re fully covered!
The end of the year is the ideal time to clean up your business, finish strong, and carry positive momentum into the coming months. While many of the tasks on your list may seem small, they play integral roles in the performance of your barbershop and the stress you’ll feel if you put them off.
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