Barbing

SECTION 1:
Introduction to Barbing

In Nigeria, barbing is among sole proprietorship businesses that can be operated by only the proprietor or a team depending on the capital, skill and locality involved.

Putting aside rent, you can start this lucrative business with less than a hundred thousand naira (#100,000) but, only if you want to start on a small scale.

Lucrative! I called it. But, you may wonder why I used a qualifier majority believe does not sound well with the profession.

Let’s press forth for a little analysis.
Earning Range of a Barber

I know you are well interested in the earning than any other features of the profession. You are not alone; I also thought in the same perspective when I was forced to learn it. To analyse the earning range of a barber, let’s consider barbing cost in four states and the FCT.

Ondo    #200  -  #300

Enugu   #200  -  #1000

Oyo     #300  -  #500

Lagos    #200  -  #3000

Abuja    #250  -  #3000

Consider: 

If a barber attended to 15 customers every day and each person’s haircut was charged #200, there would be a total earning of #3,000 each day. Let's assume #500 was spent on fuel, then there would be a gain of #2,500. Also, if the number of customers per day was constant throughout the days of the month, such barber would have a yield of #75,000 at the end of the month – that is 4 times the minimum wage. Now, think of the earning if each haircut was charged at #1000, the earning then would be #450,000 a month. Is that not lucrative? In a year, #75,000 would become #900,000. Likewise, #450,000 would become #5,400,000. That is what it takes you to join the millionaires’ club, you see.

In fact, a barber is earning between #400,000 and #7 million in a year. So to say, barbers are making money on a spot.

Do you want to join the millionaires’ club? Are you willing to learn barbing? You can follow my next posts in which I will critically analyse what it takes to start barbing.

See you later.