Not me personally but my friend who opened a saloon with approximately ₦6m (interior designs and equipment) has just sold it for a meagre ₦1.1m.

His experience: the barbers he employed are inconsistent and not truthful. After employment, they give notice of Jamb admissions and leave or relocation. One of them went a street close to his and opened his own saloon, roping in the fewer customers gathered over the year.

It also proved the fact customer loyalty are to barbers not even the shop.


I once considered investing in it but after his experience, I am scared. How can you prolly invest with a capital of ₦6m and sell ₦1.1?

You'd think he met bad buyers. But the truth is that every buyer was pricing within this range. I watched a guy online also talking about this issue and it's true.


What's your say?


cc: mynd44 Nlfpmod

Share your experiences ✌️

From experience, any business you won't be actively involved has a 70 percent chance of failing.

Your friend does not know what is called Business Management.... There's Johnny Barbers and GMG in Abuja. He should go and learn how to manage a Barbershop. I intend opening one soon. It's a very lucrative business

If You dont intend to run a business yourself, Never open a business with low barriers to entry

Or a business that can be run on a small scale


Focus on high scale business

XOGBADO:
From experience, any business you won't be actively involved has a 70 percent chance of failing.

100%