Open your own barber shop

Local men and boys, from walk-in regulars to people who book ahead, plus occasional gift and grooming product buyers.

Pay per service, plus product sales. You can add income by renting chairs to other barbers or employing staff.

• Strong barbering skills
• Running a small business and managing money
• Hiring and managing other barbers

• Lease terms, rent reviews and personal guarantees, consider getting a solicitor to read them
• Public liability insurance, plus employer's liability once you hire anyone
• Planning use and shop fit-out rules, check with your local council
• Business rates, which may or may not apply or be reduced, check with your council
• Fixed costs mean quiet periods can hurt

Startup costs are typically around £8,000 to £40,000, depending on the premises, the fit-out and how many chairs you install. This is an estimate, so get quotes for your own location before committing to a lease.

Monthly revenue is typically around £4,000 to £18,000, depending on how many chairs you run and how busy they are. This is revenue, not profit, and fixed costs mean quiet periods can hurt.

Check lease terms, rent reviews and personal guarantees, and consider having a solicitor read them. Check public liability insurance, plus employer's liability once you hire. Ask your council about planning use, fit-out rules and business rates.