Q: How much are the financial requirements?
Q: How much does a The Guys’ Place/Barbershop franchise cost?
Q: How much revenue does a typical The Guys’ Place/Barbershop generate?
Q: What are your royalty fees?
Q: Can this business be run absentee?
Q: I don’t cut hair. How do I find the best cosmetologists and barbers?
Q: I’m not a marketing expert, how do I build sales?
Q: How much money can I make?
Q: How much territory can I get, and will I be competing with other franchisees?
Q: I’ve never built a store before. How does this all work?
Q: I like what I see, what are the next steps?
Q: How much are the financial requirements?
$100,000 of liquid assets and $400,000 of net worth
Q: How much does a The Guys’ Place/Barbershop franchise cost?
The total cost of a The Guys’ Place/Barbershop typically ranges from $189,500 and $349,100.
Including:
- A $40,000 initial franchise fee ($60,000 if you sign our Area Development Agreement to open three locations.) A discount is available for those honorably discharged from the US Armed Forces
- The cost to build, equip and stock your store
- Operating capital for the first three months.
Q: How much revenue does a typical The Guys’ Place/Barbershop generate?
We provide historical sales numbers for our locations and average annual sales in Section 19 of our Franchise Disclosure Document (FDD). After our initial phone call, we will send you a copy of our FDD, providing there is mutual interest in moving forward. We also invite you to speak to our current franchise partners. They can share their financial results, as well as their overall experience with you.
Q: What are your royalty fees?
Our royalty structure is one of the lowest in the franchise industry. Our royalties start at a modest 5%. If you are ambitious and get to the point of owning five or more locations, royalties reduce to 4.75% for all of your locations!
Q: Can this business be run absentee?
The short answer is Yes! However, let’s be honest, it will initially take time to create a culture within your location that supports your values and those of The Guys’ Place / The Barbershop. To be successful, you will need to be available to provide leadership and mentoring to your managers and empower them to do the same for the rest of the staff. From afar on your home computer or tablet or even smartphone, you can keep an eye on your bottom line using our powerful POS system. With it, you can monitor real-time daily revenues, revenues per staff member, inventory, future bookings, etc. Bottom line: while you may need to be more involved at that start, once your staff becomes comfortable with our system and your vision, absentee ownership is possible and has been achieved by many other owners.
Q: I don’t cut hair. How do I find the best cosmetologists and barbers?
When we opened in 2005, we knew the focus of our business would be on our staff. Hiring skilled cosmetologists and barbers who consistently deliver our six-point standard service is critical to success. We will walk you through our multifaceted approach to recruiting and provide you with various ad templates and tools for your use. We can assist with the initial screening and hiring process. Before your grand opening, one of our trainers will work with your staff to train them on The Guys’ Place/Barbershop process and help to ensure they meet our high standards.
Q: I’m not a marketing expert, how do I build sales?
The Guys’ Place / The Barbershop has developed a Grand Opening and Ongoing Marketing plan using wide variety of high-quality effective ads for online, on-premise, and social media campaigns. These materials are kept fresh and are available for your use. While our materials have proven to be very successful, we have found that word-of-mouth is hugely effective and we encourage you and your staff to get the word out with friends and family especially for your first location ideally near your home. Your customers are sure to love our semi-private stations and our signature service at a value price.
Q: How much money can I make?
Of course, this is the big question. Unfortunately, Uncle Sam won’t allow us to disclose this information directly. We can, however, provide you with our Franchise Disclosure Document (available upon request). This document will provide information that allows you to create a projection based on historical data from existing franchise locations. We can also put you in contact with existing franchise partners who can give you the best understanding of the financial rewards as well as risks.
Q: How much territory can I get, and will I be competing with other franchisees?
The size of your territory depends on the population and the number of locations you plan to own. We have no interest in our franchisees competing with each other. We implement a 3-mile/ 50,000 population radius to eliminate encroachment issues. We will explain this in greater detail in our Franchise Disclosure Document (Item 12).
Q: I’ve never built a store before. How does this all work?
You’ll be assigned a development specialist that will guide you through all phases of the site selection, lease negotiation, construction, training, grand opening, and ongoing marketing and operations processes. We enable an easy and cost-effective build. We also offer a build in a box solution to enable swift opening by ordering all the equipment, décor, and supplies. We know what’s needed to open a shop and are here to make it as smooth as possible so you can focus on learning and running your new business. It’s an exciting time! We LOVE opening new shops and turning those lights on. We’re sure you will too!
Q: I like what I see, what are the next steps?
Call us at 920-639-5657 or send an email to franchise@thebarbershops.com. We will set up an initial call so we can get to know each other and answer any initial questions you might have. After that call, if there is mutual interest in moving forward, we will send our FDD for you to review.