Interview with a Barber Shop Owner Essays -- Business Management Inter

Have you ever wonder what it is like to be the owner of a barbershop? Well Raymond Jackson, owner and operator of Your Barbershop, is the one you should learn from. Not only do you get to work for yourself in this recession-resistant growth industry, you get to revive an American tradition while serving upscale clientele with your staff of professionally-trained employees, all with the support of the latest technology, proven operating philosophy, and an experienced management team at your disposal. In a two-hour interview, Mr. Jackson was asked a series of questions pertaining to his work atmosphere, personal goals, and personal thoughts about his establishment. This report will illustrate the necessities of running an established business. When asked, â€Å"What, in your own opinion, would make another successful in this position?† he said, â€Å"You need a lot of people skills.† He believes in order to run a barbershop; you need to be able to meet the needs of the customer. If the customer is not satisfied, you will lose their business. You must be patient. If not, the customer will not return for more service. It’s all about keeping the customer satisfied. This led him to the topic of supply and demand. Most of his profit is dependent on what the customer wants. For example, if the customers come in and want to purchase a bottle of water, you have to provide the water at their convenience. This will keep the customer satisfied and ensure their return for more business. Sometimes business gets slow. He feels the need to bring in more customers. To achieve this goal, he offers various incentives such as discounts. The discounts allow more people to come in and e... ... in its current state, and consumers directing more of their resources on fuel costs, have your business felt a slowdown? a. No, due to the fact that customers still tend to keep up their appearance 13. As a small business owner, how do you plan your budget for your business? a. By paying attention to the supply and demand of the customer i. He buys what is needed 14. What does your company do to retain existing customers? a. Consistency i. Keeping up with what the customers want 15. What is your number one source of new business and how do you get it? a. Siblings/families/friends i. Referrals ii. Growth of family 16. What is competition’s biggest advantage over you and how do you intend on fixing this problem? a. Advantage i. Technology 1. Computers 2. Accessories b. Intentions i. Add these things and more in the near future