How Barbers Really Make Money

Video Description

We want to thank Henson Shaving for sponsoring this video, and for being brave enough to challenge a half-century old business model. Visit http://hensonshaving.com/modernmba or use code modernmba to receive a free shave cream with your purchase of a razor. Just make sure both the razor and cream are in your cart for the code to take effect. This offer is valid with or without the blades for life product. The barber shop is a unique industry that private equity has been unable to penetrate despite investing millions every year for the past 40 years. Over 80% of barber shops remain independent and chains like SuperCuts have been falling behind. The corporations have been unable to find footing despite brand recognition, unprecedented scale, and even first-mover advantage. They slash prices and offer loyalty programs but still can’t match local rates. They renovate and advertise but still can’t pull in high-end clientele. The industry continues to be led by the independents as new upscale concepts coexist alongside the established old-school traditionalists. In this Modern MBA Original, we go from the macro-lens to micro-lens to understand this business from the chains to the independents. We'll cover the rise and fall of Regis - the largest PE-backed owner-and-operator of barber shops in the world behind the once-dominant SuperCuts from the 80s to present. Then we'll dive into 3 independents who work in the most competitive markets in the world - the first is a lone wolf in Silicon Valley, the second is a 20-year master in New York City, and the third is a maverick in the San Francisco Bay Area. ============================= Featured Businesses ============================= 💈 EVERGREEN / CLIPPER KINGS (Peter) https://www.instagram.com/petermichaels_cuts/ Location: https://maps.app.goo.gl/owQEJZZ6zBV3v5TS9 💈 BARBER SHOP NYC (Arthur) https://www.instagram.com/barbershop.nyc/ https://www.barbershop.nyc/ Location: https://maps.app.goo.gl/wTKWvrBsZNF65bKW9 Location: https://maps.app.goo.gl/mGnrXfxjpfkkYfu2A 💈 MYSTERIUEX (Rod) https://www.instagram.com/mysterieux.brand/ https://mysterieuxbrand.com/ Location: https://maps.app.goo.gl/iRnZE5V6bF2wGnYN8 ============================= Support Modern MBA - we're 100% independent, self-funded, and committed to making business education free to all. ============================= ☕ Tip: https://buymeacoffee.com/modernmba ☕ Patreon: https://patreon.com/modernmba 🤳🏻 TikTok: https://www.tiktok.com/@modernmba 🤳🏻 Instagram: https://www.instagram.com/modern.mba/ 🤳🏻 Reddit: https://www.reddit.com/r/modernmba/