Potential and Feasibility of Babershop Investment for Millennials in Kraksaan District

Abstract

This study aims to analyze the potential and feasibility of barbershop investment for millennials in Kraksaan District, Probolinggo Regency. Using a qualitative approach, this study collected data through in-depth interviews, observations, and document analysis. The results of the study indicate that Kraksaan District has a large market potential for barbershop businesses, especially since around 35% of the population are millennials who tend to have a modern lifestyle and like quality services. Millennial consumers prioritize customer experience, including the quality of haircuts and a comfortable barbershop atmosphere, as well as easy access through online ordering applications. In terms of investment feasibility, the barbershop business in Kraksaan shows promising prospects, with a payback period of around 2 to 3 years and a net profit of 25–30% per month. However, the challenges faced are tight competition and the need to improve the quality of service and business management. This study concludes that with the right service innovation and marketing strategy, the barbershop business in Kraksaan District can grow rapidly and provide significant profits.