The demand for barbers and beauticians will continue to increase over the next several years. This industry will always be in high demand as long as men, woman, and children grow hair. Individuals with a barber’s license from an accredited school will always have the potential to earn top dollar with in this industry. With the demand for barbers, beauticians and stylist continuing to grow, so will the demand for schools where a potential barber can enroll and attain ample knowledge and training in order to become licensed.
The First Step: Creating a Business Plan & Raising Capital
Taking the time out to write an in depth business plan for your barber school. With this step it is imperative that you include a description and mission statement of the school. Include your marketing strategy, researched facts regarding other barber schools in the immediate area and any information on the schools insurance coverage. It is important to provide all documentation highlighting the financial records and needs. These needs should include how much capital you will begin with when the school starts and how you plan to raise the additional needed funds.
The Second Step: Raising Capital
By contacting your states Department of Education you will be able to apply for government grants and loans that are available. This is an important step to begin the process of getting the money you need to raise your start up capital. Working with a bank to complete and submit your loan applications is a must, unless you have all the money you’ll need to get started.
The Third Step: Attaining Insurance Coverage
Begin this step by speaking to local insurance providers. Be mindful that you will need to purchase enough insurance to cover damages (fire, flood & theft), as well as sufficient liability coverage. Speak with your insurance provider about employee coverage, such as workmen’s compensation, disability and unemployment benefits. Doing this will guarantee your school has ample coverage your students and instructors.
The Fourth Step: inventory
Communicate with different beauty wholesalers to get the best priced equipment for you. Comparing the costs of styling chairs, work stations, hair products, mirrors, scissors etc., will be beneficial to you when making sure you purchase enough inventory to supply sufficient training
Once these first 4 steps are complete you will be able to breathe a little easier. Nobody said this was going to be easy; however anything you work hard enough to attain will posses huge advantage when it’s all said and done. Being the owner of your own barber school will be extremely rewarding if you give it your absolute best. Providing individuals with the knowledge they’ll need to succeed in a field they love will make all the hard work worth it in the end.