Barber shop owners can work in small retail spaces by themselves or own large shops with multiple barbers. Those who own larger shops hire and supervise barbers and cashiers, and deduct state and federal taxes from their paychecks. Barber shop owners order equipment and supplies, place advertising in yellow pages and coupon magazines, and track revenue and expenses. Barber shop owners earn a relatively low salary compared to most other professions.
Income and Qualifications
Barber shop owners earned average annual incomes of $30,000 as of 2013, according to the job website Indeed. Barber shop owners usually purchase an existing business or open a new shop. Like many retail establishments, costs can range from a few thousand dollars to $100,000 or more, depending on size. Barber shop owners typically attend barber school for at least nine months, according to the U.S. Bureau of Labor Statistics, and pass a state license examination. Other essential qualifications include experience in barber shop management; stamina; and customer service and time-management skills.
Income by Region
In 2013, average salaries for barber shop owners varied somewhat within the four U.S. regions. In the Midwest region, they earned the lowest incomes of $23,000 in South Dakota and the highest of $31,000 in Illinois. Those in the South made between $25,000 and $35,000, respectively, in Louisiana and Mississippi. You would earn $21,000 or $33,000 per year, respectively, in Hawaii or California, which were the lowest and highest salaries in the West. And your annual income in the Northeast would be $26,000 to $35,000, respectively, in Pennsylvania or New York.
Experience is the key to earning a larger income. With experience, you will likely know how to better satisfy clients and get their repeat business. You will also know the best ways to advertise your business, whether it's passing out flyers, placing half-page ads in the local phone book or handing out business cards with your website on them. Your income may also be higher if you move to a larger venue, hire several barbers and service more customers per day.
The BLS doesn't forecast job data for barber shop owners. It does, however, project job opportunities for barbers, which are expected to increase seven percent in the next decade. Although this is a relatively slower rate of growth than most professions – versus a 14 percent average for all jobs – you will be creating your own job as a barber shop owner. And you are likely to earn higher profits in areas experiencing high population growth, where the demand for your services will likely be greater.