Considering Entrepreneurship: Should I Start My Own Barber Shop?

As an 18-year-old barber with five years of experience, I find myself at a crossroads. Having dedicated 45 hours a week to honing my craft since the age of 13, I’ve built a solid foundation in the grooming industry. My journey began with offering free haircuts, leading to an apprenticeship where my skills flourished under expert guidance, ultimately culminating in my licensing at 16. Balancing my career with high school wasn’t easy, but by strategically avoiding advanced classes, I managed to meet my academic commitments while developing my passion for barbering.

Now that I’ve graduated and accumulated two years’ worth of income, I’m contemplating whether to launch my own barber shop. With $80,000 saved and a thriving clientele from the local Muslim community—where I often find my schedule booked two weeks in advance—I seem to be in a favorable position to take the plunge into entrepreneurship.

My father believes it’s a wise decision, citing my financial stability and the support of my family as strong reasons to move forward. Yet, I grapple with uncertainty about whether starting a business at this stage in my life is the right choice. Should I consider remaining at my current shop for a bit longer? Perhaps working additional hours to amass even more capital before embarking on this venture?

Starting my own business is undoubtedly an exciting prospect, but I want to ensure that I approach this significant step with thorough thought and preparation. After all, entrepreneurship comes with its own set of challenges and responsibilities.

As I reflect on my journey and future options, I invite others who have navigated similar decisions to share their insights. Is now the right time for me to take this leap into entrepreneurship, or should I continue developing my skills within the safety of my current role?