My Six Figure Barber

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Today I went to get a haircut at my barber shop. Note that this is only one man that runs the entire shop. I’m going to call him Norman for the sake of confidentiality. Norman is a great barber and something that he has is fantastic communication skills. Aside from these little details, which there may be random ones throughout this post, let’s get into how the whole appointment went.

I arrived at my twelve o’clock appointment at 11:45. Today is Tuesday, pretty much the middle of the week, and there was a man currently getting his hair cut. I sat down in the lobby to wait my turn. Okay, nothing out of the ordinary. While waiting my ten minutes, he had TWO more individuals call for a hair cut today. He simply said, “Yeah you can come in, man. Just know I have someone waiting right now and someone called ahead of you who is on his way now.” As far as I’m aware he still ended up coming in for a haircut.

So, now it’s my turn. I walk in, say hello and we talk about how it’s been a while. (At times I take a while between getting haircuts) I show him the style I want, he begins and we start talking about a lot of things from his past, to investments, movies, court cases and…his customers. When I noticed how busy he was I figured it would be great content to share on my website. So, I began to ask as many questions as I could.

“When I first started coming here, I believe you mentioned something about having 1,000 contacts on your phone which are people who you actually cut their hair?” I asked.

“Yeah, it was actually 2,000 at the time and it has increased since then.”

“Wow, man! That is awesome! So, you’re pretty much booked every day?”

“I could be if I wanted to. I had to start using a new booking app because I haven’t been able to keep up with the appointments being a one man show.” He replied. (Notice his leverage in this case can be an app instead of an individual which can be much more expensive)

He proceeded to show me the app and the contacts on his phone to prove his points. Low and behold, the man is BOOKED.

“Having too many customers is one of the best problems to have.” I pointed out and we both laughed.

Let’s get into some numbers to point out the significance of this case.

Norman has a male market, in other words, he only cuts hair for males. He cuts hair as well as grooms facial hair. For the sake of this example we are just focusing on the price of his haircut. ($15) Now, we can go about this calculation two ways:

  • Number of individuals on his contact list and a reasonable amount of time to come back and cut your hair.
  • Three haircuts every hour for 40 hours a week.

We can agree that 2,000 contacts is a lot. Let’s cut it in half and let’s give one and a half months to get a haircut. So, 12/1.5 months = 8 months. 8 months x 1,000 customers = 8,000 customers the whole year. 8,000 x $15 haircut = $120,000 gross income. Wow!

Next, 3 haircuts an hour x $15 haircut = $45 an hour. $45 an hour x 40 hours a week = $1,800 gross a week. $1,800 a week x 52 weeks = $93,600 a year! Now this is just week days, not week ends which he does work. Incredible.

My point here is that the opportunity to make money is everywhere. Clearly, even in cutting hair. Find what you like to do or think you might and try it. If you like it, put in the work and you will succeed.

 

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