i need help & advice about starting a new business

Discussion in 'Starting a Business' started by london26, Jul 31, 2012.

  1. london26

    london26
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    hello business advice forum , my father is retiring at the end of this year and has said i can have his shop that he owns,its currently a not very successful barber shop and i had a few ideas to change the business as i don't no how to cut hair. its a fairly long in length shop and not extremely wide but was thinking maybe buying a franchise like dominoes / pizza hut (something like that) ..

    as its a fairly long shop and has a back and front entrance with roads either side i was also thinking of maybe having a little cab firm control room at the back and cafe at the front or just leave the barber shop as it is and at the back do a dominoes type delivery service

    so guess the options are at the moment (although iv just found out about the shop and had one days thought on it ) is.....

    option 1 ... barber or cafe shop at front , cab firm/ dominoes at back
    option2 ... dominoes franchise at front , cab firm at back

    i dunno weather to employ a barber and just use the back of the shop as a dominoes type franchise or cab firm

    please reply as i need any ideas ? :confused:
     
  2. rosstaylor

    rosstaylor
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    In my option you should try the market research report related to your business.
     
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  3. london26

    london26
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    So what would you do with the shop??.

    thanks for the reply
     
  4. Bharat Book

    Bharat Book
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    You need to study current market means understand market demand,new product development,business trends etc.First you decide what you like to offer your customer,who are target customer.you must be passionate about your business.
     
  5. london26

    london26
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    i no i need a study market demand thats a given ... but i wanted business ideas tho ,
    thanks for youyr replys tho guys :)
     
  6. jitu1819

    jitu1819
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    In my opinion the option 2 is very good.
     
  7. Mark T

    Mark T
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    I think option 1 would be better. Having a coffee shop at front with a barber shop as well helps you customers have a cup of coffee at hand while their hair are being trimmed. And when you have good cab firm at the back it serves as another option for your clients to either stay longer or have sometime checking out what you have on your cab firm
     
  8. seorahulchauhan

    seorahulchauhan
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    nice thought Mark and it will work because its a small model of Mall or a market. Your customer getting three option. I will suggest you to put some extra good of your customer use. like you can put some books, daily uses goods. It will really works.
     
  9. danadlington

    danadlington
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    You didn't mention it's location with regard to the high street.

    I would be interested to know how the Barber Shop gets it's customers. Try to understand why it isn't successful.

    If the Barber Shop gets customers from walk in customers rather than appointments what is the number of people walking past the shop?

    Also when choosing your franchise is there already competition for Pizza Hut and Dominos in the local area?

    Is there a demand in the local area for a particular service?

    I would have thought positioning for a cab firm would be better beside a train station or main high street. How far away is the nearest train station?

    You probably already thought of these questions. I hope everything goes well and you found my input useful.
     
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  10. DeniseTaylor

    DeniseTaylor
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    I agree that Option 2 sounds good to me - from a profit standpoint.

    How is the barber shop doing? What is the profit margin/operating expenses?

    I don't know much about Dominos, but would imagine it would be a profitable business. You'd have to consider the franchise costs, equipment needs, modification demands, etc., with that idea. It could be costly.

    I'd start doing some math and work it out that way. I believe the numbers will speak for themselves. If not, add your own feelings to the equation - considering the ideas you personally like better.
     
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  11. Arro12

    Arro12
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    Ditto on option 1. The last thing you want to do is take away familiarity with the barbershop. Doing a little renovation here and there, maybe toying with the idea of making it a more in-depth salon, etc. could help bring in different clientele.
     
  12. rangrage

    rangrage
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    I totally agree with Arro12. Since you already have a business in place, work at it before considering anything new. Get a feel for the business and see how you can improve what you currently have.

    You must understand, one of the reasons many businesses fail is because they move away from their core business function. To avoid this, it is best to focus on the core business and build additional income streams by adding value products to the core business. Example; If a person goes into a sport store to buy a pair of golf gloves, you can immediately assume that he is interested in golf and offer him other golfing products which he is more likely to purchase since he is already in the buying mood.

    Think of how you can add additional products around the barber concept which will increase sales and bring in new customers. Here is my idea; you can have a long term goal of converting the shop into a complete hair studio (which will make you very rich) get a barber, then have a section for female hair dressing, then perhaps a beautician who also offers body massage, reflexology etc, if they do not want to work for you then sub-let a portion of the shop to them and charge each of them 50% of the rental. There are many way you can improve your dad's current business, don't jump straight away into another type of business.

    Hope that helps you in some way. :)
     
  13. James Greg

    James Greg
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    I totally agree with danadlinton's view. You need to make sure that the location is worthwhile. Having a long shop is not the key to success, but the way it attracts customers would bring in the profit. If you are on a busy street full of hungry people the option 1 seems suitable. Being easily available is more important to the customers.
     

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