JOE AGNELLO JR.
CEO + Co-Owner, City Image Barber Shop Chain (10 Locations) | Barber Shop Owner Coach
EPISODES
Building One of the Largest Privately Owned Barber Shops in the U.S.
Tune in to hear Joe Agnello tell you exactly what you need to know to build and grow your business!
Key Takeaways
Joe is not a barber, but his brother is. After helping his brother here and there with the business side of the barber shop, they had a chance to open a 2nd location, and Joe joined the team!
Do not pay yourself a lot in the beginning, and reinvest your money into your business if you plan on scaling (aka growing)
Having a 2nd location is not ONLY double the work; it is so much more than that! You have team building, decisions on how to divide your attention, and a lot less free time.
When the economy tanks and you have been stacking your money for reinvestment, you can relieve someone of their failing business. This is great for you and them because you expand, and you take a headache off of their hands! Taking over leases for struggling people can be a "God Send"!
Joe left a 6 figure job and went to a $0 salary initially.
When you have employees, you have a huge responsibility to keep the business secure.
If you want to retain your employees/team members, YOU MUST SHOW GROWTH.
regular maintenance of the space
community events
social media investments
staying relevant, not necessarily expanding to multiple locations
Aspiring Entrepreneurs:
Be ready to sacrifice time with your family
sacrifice time with your friends
sacrifice football on Sundays or whatever pastime you are used to enjoying
sacrifice money
Your employees should not work more than you unless you have made it as far as you want in the expanding and building of your business...but you will still need to stay relevant and show growth to retain your employees
Business ownership is a mindset more than anything else....do you have the mindset of willingness to see the long game and make short-term sacrifices for long-term gains and fulfillment?
Build a cushion in your bank account before paying yourself more than the bare minimum.
Once you have enough money for payroll and to pay your bills, then build some emergency money of $5k-$10k (may vary if not a barber shop and geographic location)
Playing it too safe is not good for business
you are probably not paying your employees enough
you are probably not staying on top of growing and maintaining your business
Having partners is a marriage, and both should have the same mindset.
Partners should not come in just for money
Humanize your team; do not make it all about numbers, but do not skip the numbers.
Coming Soon!
Coming Soon!
Key Takeaways
