The Barber's Room beside Trinity College in Dublin city centre has been in business since 2001 and employs four people.
What distinguishes your business from competitors?
I opened up a barber's shop in Dublin simply because I couldn't get a good haircut anywhere at the time. I felt anyone who opened up a good shop that was more like a salon than a traditional barbers would do well, so decided to take the plunge.
Unlike most barbers where the emphasis is on getting customers in and out as fast as possible, we take our time and hold consultations with our customers. We actively encourage them to be fussy because we want to make them happy. Lads are much more aware of the difference between a good and bad haircut than they used to be and we have played a large part in educating them.
What has been the biggest challenge you have had to face?
Getting the initial loan to set up the shop was the biggest challenge. I kept on going into banks wearing jeans and T-shirts and found it didn't work. I then realised that you have to play the game. I put on a suit and got together a good business plan and that did the job.
The first year of the recession was also difficult as business dropped off a lot and I essentially wasn't paid for a year. We managed to build the business up again and the last year was busier for us than it ever was during the boom.
What is the biggest mistake you've made in business?
During the first few years in business, I made all the usual mistakes such as not keeping as close an eye on the finances as I should have, but these were all things I learned from.
We never went mad in terms of expansion during the good times which I'm glad of now. We did open a salon last year on George's Street, but we timed that well and waited till the end of the recession before doing so. I also had a shop in DCU for a while which did well, but had to pull out because the rent kept on rising.
What was the best piece of business advice you've ever received?
My mam had a salon in Waterford and she always warned me against giving free haircuts. I never really knew why and thought I wanted to look after my mates but it didn't take long before I realised she was right. When you're not charging for cuts, people tend to start wanting one more regularly.
And your major success to date?
I think staying in business for 13 years and, in particular, surviving the recession are major successes. Outside of that, we're rated top on Yelp and through this come up first on Google when people search for good barber shops in Dublin, which is brilliant.
I get a great buzz out of this because, when I opened the shop, it wasn't to make money, but to open the best place in Dublin. To get to a stage where we've done this is a massive pat on the back and justifies all the work I've put into making the place a success.
Who do you most admire in business and why?
Anyone who set up a new business during the recession because it took so much bottle to do that. I think businesses that have set up over the past five years have done more to improve the economy than the Government, which actively put obstacles in the way through continued support for upward-only rent reviews, new taxes and so on.
What piece of advice would you give to the Government to stimulate the economy?
Let traders trade and stop putting obstacles in their way. Anyone who wants to open a new business should be rewarded but, at present, they are being punished instead.
Do you think the banks are open for business at the moment?
The banks have destroyed the country so I feel dirty saying it but my bank has been pretty good to me. Then again, I've never missed a payment to them and that's what's saved me.
How do you see the short-term future for your business?
The Luas extension is going to be a problem short-term, but should help the business over the long-term. We've already started having problems with the water being turned off for hours while preparatory work is being done and that's meant I've only been able to take in half what I'd normally get in. I'm worried about the impact on the business while the works are carried out.
What is your business worth and would you sell it?
I wanted to open up the kind of shop that I'd like to work in and have achieved that. We have a great clientele and I get to play music all day so I'm happy as I am right now.
In conversation with Charlie Taylor
