Squire: The Future of Barbershops – A Pandemic Success Story

Since 2016, Squire founders Dave Salvant and Songe LaRon have watched their barbershop-focused startup skyrocket in value. What began as a local New York barbershop run by two non-barbers has exploded into a $750 Million value company. These two business-savvy entrepreneurs put their heads in the game and strategized a success.

For those of you not in the know, Squire is an all-in-one platform designed to facilitate operations at a barbershop. Think of it as a Point-of-Sales system tailored specifically for barbershops. 

The app allows businesses to schedule appointments, offer loyalty programs, and install contactless and cashless payments. In short, it’s a remarkably convenient system that connects barbers to clients, allowing them to manage their shops more efficiently.

Here Comes COVID…

Prior to COVID-19, Squire was already growing, having raised $8 Million in a Series A 2018 round. Days before the pandemic landed on American shores, the promising startup had raised $34 Million Series B led by CRV. 

And then, “everything went to zero,” recalled LaRon. 

The pair of entrepreneurs quickly adapted by making necessary changes. Squire waived all subscription fees and set up a means for patrons to purchase online gift cards for local barbershops. It was a raving success; one shop sold more than $30,000 in gift cards. 

Soldiering through the rough months of 2020, Squire has emerged more popular than ever. As barbershops reopen and adjust to the new post-COVID world, the demand for Squire’s services has exploded. Squire’s founders were quick enough to latch onto the opportunity to provide contactless payments and create a virtual waiting room. 

Talk about good timing. 

Lemons Into Lemonade

A rapidly growing company with a 300% year-over-year revenue, Squire proves how opportunistic thinking can lead to a success story.

A major component of that success is LaRon and Salvant’s intimate knowledge of their market. A barbershop is basically a form of therapy or a casual place for the community to meet and discuss issues. 

Protecting that sense of community is important for LaRon and Salvant and their success is proof of that. What makes a startup like Squire so inspiring is what it did in the face of adversity. It’s clear from its creation that Squire had its finger on the pulse. So, it’s no surprise when the world shut down that the founders were quick to acclimate to these difficult circumstances.

They stayed true to their mission and turned their energy towards uplifting the community. The result is a startup valued at $750 Million with clear potential for continued success. 

LaRon and Salvant’s triumph is thanks to a tried and true method. They had knowledge of their market, they saw an opportunity, and they grabbed it.

A back-end management system tailored specifically for barbershops may not be the sexiest innovation to emerge in recent years. Rather, it’s knowledge of the industry combined with the savvy business skills that make Squire the latest startup to watch.