1. Planning and Market Research
1Competition Analysis: Map all barbershops within a 1-mile radius. Visit them as a customer to understand pricing, services, and weaknesses. Identify differentiation opportunities.
2Target Audience Definition: Determine whether you'll focus on executives, young professionals, families, or specific niches. This will influence location, decor, and pricing.
3Business Plan: Develop realistic financial projections, including initial investment, monthly fixed costs, revenue forecast, and break-even point.