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March 2015 Key Ideas: The Barbershop

Posted on Mar 26, 2015 by

Todd (a former SMP member) shared the story of how he and his wife started their business, defined, developed and communicated their brand, and where they go from here. The following are a few highlights from our March networking program:

  • In 2003, Todd (who was working full time in the IT industry) and his wife decided they wanted to open a business and were looking to buy a franchise. Todd did an enormous amount of research and was disillusioned by how franchise agreements were slanted against the franchisee.

  • Before committing to the salon industry, Todd spent a year learning everything he could about it. After that, the concept for “The Barbershop” – an inexpensive haircut experience with the focus on atmosphere and a service experience that speaks to guys – was defined.

  • In developing their business model, Todd quickly realized a critical component of the Barbershop would the employee. They are who the customers interact with, and they identify deficiencies and opportunities in the market. In addition to being good stylists, Todd focused on employees who would make smart decisions when the unexpected arose.

  • They opened their first location in early 2005 on the west side of Appleton and achieved their 18 month goal of 360 haircuts a week in 2 months. Their second location, opened in the fall of 2005 in Neenah, didn’t do as well as their first. The third location, opened in the spring of 2006 in Darboy, started incredibly strong and was profitable in 34 days. It remains the top store in their franchise.

  • When they decided to go into franchising, Todd focused on providing value to the franchisee, with incentives to encourage multiple location ownership. Their first licensed store opened in Rochester in 2008. Of their 11 franchise partners, 10 of them started as customers of The Barbershop.

Wishing to learn more? Don’t miss out on our next program and Join today to get the first-hand experience and full meeting highlights.