Contemplating Entrepreneurship: Should I Start My Own Barber Shop?

At just 18 years old, I’ve dedicated my life to the art of barbering, accumulating valuable insights and experience along the way. My journey began when I was just 13, spending countless hours perfecting my craft through unpaid haircuts for friends and family. By the age of 15, I secured an apprenticeship, where I not only honed my skills but also addressed some early missteps in my technique. Fast forward to 16, I proudly earned my barbering license.

Over the years, I managed to juggle a demanding 45-hour workweek alongside my high school duties, opting out of advanced classes to ensure I could meet my academic responsibilities within school hours. Now, having graduated with a solid five years of barbering experience and two years’ worth of savings, I find myself at a crossroads: should I take the plunge and start my own barber shop?

Encouragement from my father has fueled my contemplation; he believes that my current situation is promising. With $80,000 saved and the security of living at home, I have a financial cushion that could facilitate the launch of my business. Furthermore, I’ve built a substantial clientele within my local Muslim community, often booked two weeks in advance, which provides reassurance about the viability of my venture.

However, despite this strong foundation, I am grappling with uncertainties. Is starting a business at my young age the right choice? Alternatively, would it be wiser to remain at my current shop for a few more years, working additional hours to increase my savings before embarking on an entrepreneurial journey?

These questions weigh heavily on my mind. On one hand, the opportunity to establish a shop is enticing, and the prospect of being my own boss is undeniably appealing. On the other hand, the stability and mentorship offered by my current workplace should not be underestimated.

As I navigate this pivotal decision, I welcome any insights or advice from fellow entrepreneurs and seasoned barbers. Your experiences could be invaluable in helping me determine whether now is the time to pursue my own business or if patience would serve me better in the long run.