The Top 5 Things You Need to Know as a
Barber Suite Renter
If you’re ready to make the bold move to work for yourself, run your own small barbering biz, and really strike out on your own into the great, big, world of barbering, let us be the first people to say, hey, you’re a total badass and we’re proud of you.
Seriously—taking the initiative to start your own small business is a really big deal, and it’s awesome that you’re going for it.
Of course, in addition to our infinite pride, we’re also going to offer you something extra—our wisdom. If part of your start-your-own-business plan is to begin renting a barber suite, then you’re going to want to pay attention (we even encourage taking notes).
By making the huge-and-amazing step to rent a barber suite, you’re taking a giant leap into a new world. That’s all well and good, but it means something really important—you’re no longer just a barber, you’re a legit business owner, and it’s time to start thinking like one.
Renting a barber suite doesn’t have to be insanely complicated, but it does require that you flip on that business-owner mindset and start thinking about things that you might not have had to when you worked for someone else or rented a booth in a salon.
Don’t stress or get overwhelmed, though—that’s exactly why we’re here.
We’re going to dive into the top five things you need to know as a barber suite renter and a small business owner. Keep reading!
You’ll Need to Be Ready to Fly Solo
Back when you were renting a booth or working in someone else’s barbershop, you, undoubtedly, had a ton of responsibility. But when you take ownership of your own barbering company and start renting out a salon space, there’s going to be a lot more on your plate.
In other words, your responsibilities and obligations are going to increase big time, and for the most part, it’s going to fall on your shoulders. You’ll be the big man or woman in charge, so you’ll need to be ready to fly solo and count on yourself to get things done.For example, you’ll have to deal with carrying your own health, disability, and liability insurances (which are really important for you and your employees, should you hire any on). You’ll have to get comfortable with setting prices and implementing them.
You’ll have to learn how to market, provide your own supplies, and source your own tools. You’ll have to develop relationships with vendors and other companies.
And of course, you’ll be responsible for taking care of your own books and *ominous organ music here* paying your business’ taxes.
You’re Responsible for Laws & Regulations
You’ll be responsible for making sure that everything you’re doing is up-to-code. In other words, you’re on the hook for the laws, legalities, and regulations of your own business. When you make that really neat transition from employee to independent barber and launch into a tenant & landlord relationship with the person you’re renting the suite from, there’s a ton of changes you need to be aware of.
We suggest talking with professionals (like CPAs and lawyers) to help you get a handle on the tax laws, the line between you and the salon, and what forms are required to handle all the legal mumbo-jumbo.
We also recommend doing all the research you can on the national laws as well as the local laws for running a business and working with a landlord.
Contracts Are Hugely Important
If you’re entering into a viable, legitimate landlord and tenant relationship, drawing up the contract and the paperwork that outlines lease agreements and requirements will be no big deal. If your landlord has an issue with this, that should be a red flag from the get-go.
Your written lease agreement should define specific things like:
- Start and end dates for your lease
- Termination clauses a policy
- State your flat rates and monthly fees, in detail
- Define your independent status clearly
Check the Fine Print for Policies You Need to Know
Speaking of flat rates and monthly fees in detail, it’s super important that you’re always checking the fine print and having your landlord spell out exactly what you’ll be paying each month.
Further, have them spell out any additional, hidden fees that might pop up, have them go into insurance scenarios, and have them really explain the financial agreements to you.
Our best advice? Work with a lawyer to draw up this paperwork so you can make sure there are no weird loopholes that’ll leave you on the hook for extra $$.
It’s On You To Learn As You Go
We like to believe that this applies to every barber out there—whether they’re working under someone else or they’re starting their own barbershop.
It is your responsibility to continue learning as you go forward.
There are going to be things that catch you by surprise, things you didn’t know, and things that might be tough to deal with as you work through your first few weeks, months, or years—but when you opt to start a small business, you opt to continue your growth and your education every step of the way. Only you can hold yourself accountable to that.
Running your own small business is an ever-changing, always evolving process, but if you’re doing it with the right mindset and you’re totally committed to your business, it can be a really rewarding (and even a really fun!) experience.
Be ready to keep learning for as long as you’ll plan on running your business—because, without continuing education, you’ll be totally stuck in the past.
If it’s education, insight, advice, and more in the barbering biz that you’re looking for, be sure to keep up with our blog!
We are consistently bringing hard-hitting business tips, trends, and more that are a totally need-to-know for running your own barber biz!