Episode 206
What Are The Steps + How Much Money Do I Need Before Opening Up Shop? | Joe Agnello | CEO + Co-Owner, City Image Barber Shop Chain (10 Locations) | Barber Shop Owner Coach
Tune in to understand how much money and credit you need + how to get there so you can open your own spot in the future!
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Key Takeaways
- Startup costs are higher than they have ever been, and landlords are tough post-COVID
- Opening a Barber Shop will cost you about 30k at the bare minimum in a lower cost-of-living area.
- You have to pay yourself when you start your business because you may think your business is doing better than it is.
- Receiving payments in cash may seem convenient, but it's not advisable. Demonstrating a clear income on paper and paying taxes on it is essential for securing loans. Without a documented income, obtaining a loan can be challenging.
- Most of the time, the landlord will not give you anything. You are responsible for everything; this is not a residential rental.
- Do not just listen to one coach, advisor, or influencer. Diversity in perspective will serve you better than buying into just one person.
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👉Follow City Image Barber Shop on IG here.
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The views and opinions of our guests are theirs and important to hear. Each guest's views and opinions are their own and we aim to bring you diverse perspectives, career paths and thoughts about the craft and industry so you can become Hairdresser Strong! They do not necessarily reflect the positions of HairdresserStrong.com.
