People have been tightening their belts because of the times, hoping that cutting their spending will help them through a tough economy. But according to Daniel Yagudayev, a barber from West Hempstead, New York, people don’t realize that their penny pinching trickles up.
Everyone needs haircuts, but to save money they figure they don’t need them nearly as often. Because his customers aren’t coming as often, Yagudayev said he’s losing at least $2,000 a year as compared to his business before 2008.
Customers are going longer without a trim:
Yagudayev outlines why people are coming for a cut less frequently, and how long they’re waiting.
20-30 percent drop
Yagudayev breaks down how his business has slowed down by the numbers, saying that he serves 20-30 percent fewer clients per week, on average.
What’s a business to do?
Yagudayev explains his strategy for surviving the tougher times.
Five minutes of what Yagudayev’s barbershop sounds like with a customer in the chair.