Starting a barbershop takes a little more capital than you’d think. Experienced barbershop owners suggest a minimum capital investment of $150,000 to $200,000. But this includes school tuition, supplies, leasing a building, marketing, and staff costs. If you market yourself correctly, you can make that money back in about a year. After expenses, most barbers make between $30,000 – $70,000 a year.
Starting a bar can cost way more if you’re starting from scratch. Total startup costs for a bar that rents or leases its location are estimated to be between $110,000 and $550,000, depending on the size. Already established bars for sale provide a potential owner with startup costs of as little as $25,000.
Starting a bakery can be costly, from securing a lease to stocking up on high-quality ingredients. Not to mention hiring workers and buying (or leasing) commercial equipment. Bakery startup costs often range from $10,000 to $50,000.
That’s not to say you can’t make money if you do it right. The U.S. has around 6,000 retail bakeries with total annual revenue of approximately $3.8 billion, according to First Research.
Starting a small business can get expensive. So to help with that, we compiled a list of the best free tools (and resourcse) for small businesses to use. Everything here is either free permanently, or at least has a free trial so you can see what you like, and possibly shop around.
But why is it that Instagram could be the next big Business Development tool for Sales Executives to use? It also might have to do with the fact that there are 800 million members on Instagram, and 80% of them follow at least one brand, meaning they’re willing to interact with businesses in a way other platforms just don’t provide.
