Is making $100,000 a year a realistic goal for barbers? Making good money by cutting hair can take time and effort.
Are you working enough hours?
One of the perks of being a barber is working flexible schedules. If you only work three days a week, reaching $100k will be unlikely. Being a barber gives you tremendous flexibility in your schedule. However, you must figure out clever ways to maximize your time to achieve your financial goals. It is about more than simply working more hours but being consistent. Can your clients count on you being on time for their appointment? Do you respect their time? These are all questions that you need to ask yourself to be on the road to being a six-figure barber.
Are you charging the right amount?
Depending on the location and clientele of the shop you work in, this may be out of your control. However, if you work with a shop owner who lets you set your own prices, this can allow you to charge a premium for different types of cuts, styles, and shaves.
Think about it less as charging per haircut and more as charging for your time, specialties, and professionalism.
To reach $100k working a standard 40-hour work week, you will need to make $50 per hour. If you are charging $25 per haircut, you need to do two haircuts every hour. Keep track of your time.
Do you have enough clients? Are they returning? Do you ask for referrals?
You constantly need to find new clients. If you have a turnover of 10%, you also need to gain new clients. This is where marketing, word of mouth, and promoting your business become extremely important. If you do more infrequent services, like women's services and man hair replacement units, then you need to increase your active client number by double or triple to maintain a full schedule. Adding additional services you've learned in Barber School can also help increase your clientele.
Ask for referrals.
Offer a referral reward. If a client offers to bring you a new client, offer them a discount on their next cut, or give them a cut for free. This will give your client base a big boost.
Brand Yourself.
Don't look at yourself as just a barber; You've taken the time and money to get your license. You're now a PROFESSIONAL BARBER. Now it's time to think of yourself as a BRAND.
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