Barber Shop Business Plan Template

Competitive Analysis

Regal Men Barber Shop will face competition from other businesses with a similar company profile. A summary of the competitor companies is below.

 

Direct and Indirect Competitors

Floyd’s Barber Shop

Floyd’s Barber Shop is a franchise barber shop that has a location in Uptown Minneapolis. They currently have 9 barbers/stylists in the shop that is located on Lake Street. Floyd’s Barber Shop offers a range of haircuts and services.

Their haircut options are:

  • Buzz cut
  • Floyd’s Cut
  • Full Service Cut
  • Kid’s Cut
  • Long Layer Cut
  • Mid-length Cut
  • Skin Fade

Floyd’s also offers two coloring services, men’s gray blending color and a single process. They offer different shave options as well as waxing service. Pricing is dependent on franchise location. All services are by appointment only.

LV’s Barbershop

LV’s Barbershop was created in 2011 and has become one of the most recognizable barbershops in the Twin Cities. The barber shop was created purely for individuals who appreciate premium quality, time, and a flawless look. LV’s employs a team of highly qualified professionals who cut a variety of hair. They will help you to look stylish and confident in a discreet way. LV’s Barbershop has two locations in Minneapolis, one in the Northeast part of town and one in South Minneapolis.

The list of services for LV’s Barbershop are:

  • Men’s haircut – $30
  • Beard Trim – $20
  • Kid’s Haircut – $30
  • Women’s Haircut – $30

Clients are encouraged to make an appointment, but LV’s Barbershop does talk in walk-in customers as well.

 

GENT Cuts and Grooming

GENT Cuts and Grooming is a luxury barber shop with six locations throughout the state of Minnesota. They have an expert staff to provide the best quality and exceptional service. GENT is dedicated to men’s grooming and the staff regularly receives regular continuing education to ensure the client has the best experience possible.

GENT’s haircuts start at $29. They also provide a classic shave for $35 and an executive shave for $50. The beard trim and shape is $18, grey blending starts at $25, and a scalp-smoothing head shave is $35. Aside from the haircuts and shave services, GENT Cuts and Grooming provides waxing starting at $8 for the ear and nose, and $15 for a neck wax. The express facial is $20 and the executive facial starts at $35.

GENT Cuts and Grooming is also a popular spot for Groom’s parties. The parties are able to reserve the entire salon for their party and GENT will provide deluxe services and pamper all the gentlemen in the wedding party.

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Competitive Advantage

Regal Men Barber Shop will be able to offer the following competitive advantages over their competition:

  • Friendly, and attentive staff trained to be able to provide the best customer service experience possible.
  • Comprehensive menu of services for a polished and regal look.
  • Trained barbers that are up-do-date with the trendiest cuts and services.
  • Cost-effective pricing that rivals the competition without sacrificing service or quality.