I don’t know if I should start a business yet or not.

4 June 2025 10:48

The Dilemma of Entrepreneurship: Should You Start Your Own Barber Shop?

As young professionals step into the workforce, they often grapple with a pivotal question: when is the right time to venture into entrepreneurship? This is a dilemma faced by many, including ambitious barbers like yourself.

At just 18, you have an impressive track record in the world of barbering. Since starting your journey at the age of 13, you’ve dedicated countless hours—45 per week, no less—to honing your craft. From providing free haircuts in your early teenage years to securing a license at 16, your experience is substantial and notable. Your immersion in the field has been deepened through an apprenticeship that refined your skills and helped eliminate some early missteps.

Now, as a recent high school graduate with five years of solid experience and $80,000 saved, you’re at a crossroads. Your father believes that you have an excellent foundation for starting a barber shop, especially given the financial cushion and supportive living arrangement. Furthermore, your established clientele within the local Muslim community speaks to your ability to draw business, with two weeks’ worth of bookings already lined up.

Yet, the question lingers: is this the right time to take the plunge into entrepreneurship? Should you consider working at your current shop a bit longer to accumulate more resources and experience?

Here are some factors to weigh in making your decision:

Market Demand

You already have a loyal client base, which is a significant advantage. Understanding the demand for barbering services in your area can help you gauge whether this is the right moment to branch out on your own.

Financial Readiness

While you possess a substantial amount of savings, entrepreneurship often comes with unforeseen expenses. Will your $80,000 be enough to cover initial costs such as rent, equipment, and operational expenses? It’s crucial to have a clear financial plan in place.

Business Acumen

Owning a business requires skills beyond your primary trade. Consider whether you are equipped for marketing, management, and customer relations. Seeking mentorship or taking courses in business management can enhance your proficiency in these areas.

Long-Term Vision

Think about where you see yourself in the next few years. Do you envision running your own shop or would you prefer to gain more experience and knowledge in an established environment first? Each path offers valuable lessons that can influence your long-term career trajectory.