Introduction to Barbing Saloon Business In Nigeria
A barbing saloon is a place people, especially men go to get a haircut. In recent times there has been a boom in profitability for this business. Most Barbing saloons are run on a small and medium scale and they rake in a considerable fair amount in profit on a daily. The Barbing saloon business, can as well be run on a large scale, as proven by Mr Kufre Nnah who runs 4 high class barbing saloon in the highbrow area of Lagos and has reportedly been flown around in private jets to render his services to the high and mighty in the society. Needless to say, Kufre is a millionaire and plans to own more saloons around the country.
If you’re thinking of going into this business, First, you need to acquire the skills from a professional . This may take you 3 to 6 months to accomplish, or employ someone who is a professional. Then, here is a breakdown of things needed and what you have to do to start your own barbing saloon business:
Capital Requirements for Setting up a Barbing Saloon Business in Nigeria:
You would require between 300 – 700 Thousand Naira (rent inclusive) to setup a good Barbing Saloon in any city in Nigeria.
How a Barbing Saloon works:
A Barbing saloon is generally easy to run and requires little to no special expertise. The operation process involves using a special equipment called the clipper to shave the hairs off the head of a customer. The process takes different durations depending on the preferred hair style of the customer.
Towels are used to wipe the head after each shave, and these towels are to be kept clean at all times. Each hair shave costs between 300 naira to 1000 naira, depending on your locality and also the choice hair style of the customer, as different hairstyles attract different prices.
Equipment needed in a Barbing Saloon:
1) Get a decent Store Space in a safe and secure area with a booming population and getting it ready which includes painting and carpeting for 180 Thousand naira.
2) Buy a medium sized generator in case there is power outage for 50 Thousand naira
3) Buy Nice mirrors for your Store for 20 thousand naira
4) Get original clippers, it is advisable to buy more than one for 20,000 naira.
5) Buy Seats and make a store board for your shop, this should cost you 30,000 naira.
6) Buy sterilizers for your clippers and towels, a good sterilizer’ costs 40,000 naira.
7) Buy Mentholated spirits, powder, aftershave, shampoo, sporting wave cream. Brush, combs for 15,000 naira.
8) Air-conditioner (optional) can be gotten for 110,000 naira.
9) Standing Fan can also be gotten as an alternative to the air conditioner for 10,000 naira.
10) You can also get a television for customer entertainment while on the waiting line for 30,000 naira. However, this is optional.
A 1 Year Income Projection for a Barbing Saloon Business in Nigeria:
An average hair cut costs between 200-1000 naira. For this analysis we will be using 200 naira. Now if a hair cut costs 200, typically the average man gets a hair cut twice a month. Now A Barbing saloon located in a populated area would get an average of 15 hair cuts in a day, that is 200 * 15 = 3000 naira per day. In a week that is 3000*7= 21000 per week and 84000 naira per month. In 12 months of the year the income would be 1008000 (One million eight thousand naira). Now note that this analysis is done using the least possible earning scale. Haircut prices vary and tend to be higher than 200 naira in most places. A more realistic earning scale would be done using 400 naira per hair cut, but we will stick to the accounting rule of expecting less.
Risks and Challenges of running a Barbing Saloon Business in Nigeria:
Like most businesses this business comes with its own risks and challenges, but before I state them, make sure they don’t deter you from going into this business if you want. Some of the major risks and challenges include;
1) Saturated Market: There are so many barbers. In fact, a street in most major cities may have more than 10 barbers on the same street. So the competition is tough, to stand out you have to offer a unique service and be quite excellent with customer service.
2) Customer Loyalty: Most people already have a steady barber. Someone who they already trust to cut their hair the right way. So it may be difficult to win them over to your side. This means the percentage of customers available is greatly reduced.
3) Dishonest Employees: If you do not understand the Barbing business thoroughly, your employees might easily play a quick one on you. Learn what services bring income and what expense take money away. Hire reliable employees especially people you trust.
4) Power Supply Irregularities: In Nigeria where there is so much inconsistency in power supply, the Barbing Saloon business is affected as you would need to rely on generators and fuel to deliver your service.
Getting customers To Patronize Your Barbing Saloon:
Getting patronage in the barbing business is like most businesses. You need to publicize your existence. Like a popular saying goes, “if you don’t say I am here, no one would know you are“. Below are some steps you can take to publicize your business and also get customers to repeatedly patronize your business:
1) Get A Sign Post In front Of Your store
2) Offer excellent customer service
3) Give occasional discounts and bonuses to repeat faithful customers
4) Advertise your service on the local media
5) Offer your services at competitive prices
This is a starting point towards your journey of making good money from the Barbing Saloon Business.
Get ready! Set! Go!