The barbering industry has seen many ups and downs, to say the least. It almost went extinct during the late 90s and early 2000s but made a surefooted comeback in the next couple of years. It then went on to become one of the fastest-growing professions in 2018, only to suffer a 1% projected to decline for the years 2019 to 2029. What barber business trends in 2024 will look like; know in this blog.
But what’s the reason it will keep bouncing back?
Because men will need haircuts, and shaves, and trims. And we can’t see any robots taking over these jobs any time soon. Can you?
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So, while the industry is here to stay, how can you protect your new barbering startup from all these economic shifts?
First, understand that we’re still in a global pandemic. So there are going to be shifted. But, if you pay close attention to consumer behaviors and market responses, there are still business patterns that you can count on.
In this post, we will discuss 5 of those barber business trends and will outline how to capitalize on these future trends to continue your barbering momentum.
1. Baby Boomers, Luxury Skin Care, and Premium Products
While a haircut is still the biggest money-maker for the average barber, luxury skincare is where the growth lies. According to new market research, the men’s skincare products market is growing at a confident CAGR of 6.2% and will reach a strong figure of $18.92 billion by 2027.
Within this category, premium skincare products that are made from organic ingredients and use sustainable resources are enjoying the biggest surge.
According to the Grand View Research analysis, a few factors are driving this trend:
- A greater interest among males in personal grooming.
- Increasing disposable incomes over the years.
- Baby boomers are especially into luxury skincare products such as cleansing conditioners and anti-residue rinse.
As consumer interest in skincare rises, manufacturers are responding by creating high-quality organic products and other premium range options in eye creams, facial creams and serums, and overnight moisturizers. The latest in this range include SkinCeuticals Phloretin CF serum, RESIST’s Super-Light daily sunscreen, and Dermalogica’s Special Cleansing Gel.
So, what do I do?
- Create a database of your clients noting down their skin types, previous treatments, and skin goals.
- Research and stock the latest skincare products that address your client’s issues.
- Offer solution-based treatments such as anti-wrinkle peels, acne-fighting washes, and anti-aging facials.
2. Your Brand of Masculinity
Thankfully, the notions of masculinity are expanding. Masculinity is no longer confined to hero syndrome, cigarette smoke, and leather chairs. It can now mean and represent many things. About time, we know.
As barber shops are symbols and spaces for nurturing what it means to be masculine and provide safe and secure places for weighty conversations, it is important you create a brand identity that reflects your evolving understanding of it. Don’t worry, By using some logo design tools out there, your barbershop logo can still be a mustache and a pair of scissors, we are just saying that now it can be more if you want.
Cultivating a brand identity allows you to project your business as a unique character. People come to associate humanistic qualities with a brand. In time, it can enable you to charge a premium price for the services.
To do that, create a strong brand identity for your barbering business now. Enforce that identity using your shop’s décor, design, and visuals. Do you want your barbershop to represent yesteryear’s nostalgia? Invest in lots of wood fixtures, a geometric pattern on the tiled floor, and custom lettering on the door.
If you want it to be modern, sleek, and stylish, lots of white in your décor plus custom lighting and polished hardwood floors may be what you need.
So, what do I do?
- Build a brand strategy with clear brand values and a business vision.
- Note down the core aspects of your brand identity and market them through consistent branding.
- Be willing to adapt and pivot.
3. Experiential Barbering: An Emerging Lifestyle
Barbering has always been more than just getting a haircut or a shave. They’ve been places of shared camaraderie, of conversations, and of getting a break from the daily grind.
Modern barbershops are established on the same lines. But they provide even more. They offer the barbershop experience: high-quality salon services, lots of pampering, and the ability to socialize. If you’ve had a hard week at work, an experiential barbershop can take care of you by giving you a hot towel facial, a nice new haircut, and a sip of tasty brandy.
Sitting on the shop’s comfy and ornate couches, with a hushed environment all around, and a pleasant and skilled barber at your disposal can really take the edge off.
Exceptional customer service is an integral part of it. It starts from a pleasant greeting at the entrance and continues throughout the service. Asking the customer if they have any specific hairstyle in mind or offering something unique that isn’t on your service items menu – all has an impact.
So, think of providing a unique experience when you launch your new barbershop in 2022. Establish its brand. Will your experiential barbershop cover a certain period (the 1960s vibe) or be about a certain topic (sports, for example)? Researching your target market will give you ideas.
So, what do I do?
- Think of your target market and find out what they are looking for in their barbershop visit.
- Explore ways to create an experience around those ideals.
- Market your barbershop as an experiential space.
Learn more How to Start Barber Shop Business?
4. Barbering on the Go
The UK was the frontrunner in the mobile barbershop market, with other European countries and Canada pretty close behind. However, the U.S. market is catching up. As the pandemic illustrated the convenience and viability of mobile salon services, more barbers and customers have become open to considering barbershops that are on the go.
As a new barber startup, you can either go completely mobile or set up a mobile unit alongside your regular brick-and-mortar operations. The mobile barbershop industry is attracting lucrative funding because the on-demand model is growing.
On average, a mobile barber can earn up to $55,302 per year, while the top professionals even report taking $123,500 a year home. Setting up your mobile barber business may be something as simple as registering yourself on one of the mobile barbering apps, theCut or the Shortcut, for example – or going all out and buying and customizing a barber van.
The latter is going to cost more so we suggest starting small and building a loyal clientele on any of the apps and then investing in a barber van with the profits you make.
So, what do I do?
- Research the market and find out ways to get investors.
- Figure out if you’d like to go completely mobile or do it as an add-on to your brick-and-mortar setup.
- Customize your barber van on a smaller scale so you’ve room to make changes when the need arises.
5. Master the Cut: Haircut & Grooming
While there are several grooming services that a barbershop provides, the most common one that brings in the most business is the haircut. According to a market report by IBIS, basic haircut and styling generate the biggest portion of the industry’s revenue, at 92%.
The reason hair cuts are such high in demand is quite obvious. Unlike other modern male grooming services such as laser hair removals or beauty facials, the haircut is quite basic. Traditional men who aren’t into the modern culture of male grooming still go for a basic haircut and shave. Therefore, as a barbershop owner, make sure you employ hairstyling artists who are experts in haircuts. If you’ve perfected this art, you’ve locked in the biggest demographic of your target market.
Some other barbershop services that accompany a basic hair cut and shave are shampooing, beard grooming, scalp treatments, facials, and similar. A full-featured men’s salon can offer waxing, manicures and pedicures, eyebrow shaping, massages, and even shoe shines.
When you’ve mastered the basics, you can decide which other services you’d like to offer at your shop.
So, what do I do?
- Hire haircut experts and stylists.
- Focus on a flawless basic service set and consider it your foundation.
- Offer everything else as an accompaniment.
That’s a Wrap
For industry experts, predicting barber business trends come easy. If you’ve got your ear to the ground, it is not difficult to guess which turn the tide will take next. But backed by data, these hunches and inklings can become bankable patterns that you can confidently invest in.
We hope that stepping into 2022 you’re using data-backed questions to plan and inform your next step. When you go through this article, use the data provided here to give your barber business startup the most solid foundation it’ll need to succeed.
Do keep visiting the blog as we share more ways data can help you achieve your goals.
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About the Author
Upmetrics Team
Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more
