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Barber suppliers’ best-kept secret
Barber supply distributors keep barbershops stocked with everything from clippers like the Wahl 5 Star Magic Clip Cordless to aftershaves like Clubman Pinaud Classic After Shave Lotion. But how much do barber suppliers actually make? Public filings from The Stephan Co. (financials on OTC Markets), a barber supply company founded in 1897, give a rare look at how one of these distributors earns its money.
In 2024, The Stephan Co. reported about $10.0 million in revenue and $2.8 million in gross profit, a gross margin of about 28%, according to its audited 2024 financial statements. Gross profit is not pure profit, though. After selling, general and administrative costs of about $2.6 million and depreciation, the company’s operating income for the year was roughly $12,000. The real numbers show a business that keeps a little over a quarter of each sales dollar after paying for the goods, and spends almost all of it running the operation.
In this guide
Gross margins and markup insights
Gross margin is the share of revenue left after paying for the products sold. Stephan’s audited and unaudited statements put its gross margin at about 25% in 2022 and 2023 and about 28% in 2024 and 2025. Those are company-wide figures, mixing low-margin third-party tools with higher-margin owned brands.
Margin and markup are easy to confuse. A 28% gross margin means that on an item a shop pays about $100 for, the distributor’s cost was roughly $72. Measured on cost, that is a markup of about 39%, not 28%. When you read that a supplier “makes 28%,” it means 28 cents of each sales dollar, before rent, wages, shipping and everything else.
Consumables such as aftershave, razors and towels matter because barbershops reorder them constantly, creating a steady stream of repeat sales. Proprietary products are the other lever. Stephan’s 2025 annual letter calls its LatherKing line “a key high margin product” and says LatherKing sales rose 66% in 2025 versus 2024. Owned brands let a distributor keep more of the price than it can on third-party tools, which is why many supply companies build their own lines.
Stephan’s numbers, year by year
| Year | Revenue | Gross margin |
|---|---|---|
| 2022 | About $10.5 million | About 25% |
| 2023 | About $10.6 million | About 25% |
| 2024 | About $10.0 million | About 28% |
| 2025 (unaudited) | About $9.6 million | About 29% |
Sources: The Stephan Co. 2023 audited financial statements (2022 and 2023), 2024 audited financial statements and Q4 and full-year 2025 report (unaudited). Figures rounded.
The bottom line is thinner than the gross line. Stephan reported small operating losses in 2022 (about $59,000) and 2023 (about $364,000), a near break-even operating result in 2024 (about $12,000), and an operating loss of about $433,000 in its unaudited 2025 report. Its 2024 net loss was much larger, about $3.5 million, mostly because of a $3.5 million income tax expense in the statements. The company’s 2025 letter says sales fell about 4% that year as what it calls “higher ticket discretionary categories (electricals)” were weak.
The 2025 report also shows where the company found growth: it says its Amazon channel grew more than 10% in 2025, its new WBBarber app contributed 2% of sales, and its relocated Columbus store returned to growth.
Product lines and revenue streams
The Stephan Co. runs several distribution businesses aimed at different parts of the market. Its 2025 report describes them this way:
- Williamsport Bowman Barber Supply (WBBarber): a wholesale barber distributor selling third-party and proprietary branded products directly to barbershops.
- Morris Flamingo: a two-step wholesale distributor selling mainly Stephan’s own barber brands to other barber distributors. Its owned brands include Campbell’s, LatherKing, Stephan Barber, BarberMate and Stix Fix.
- MD Barber Supply: sells owned and third-party brands through various online channels.
- Norva Barber Supply and Appleton Barber Supply: wholesale barber distributors; the report says Norva sells third-party products to barbershops.
- 614 Barber Supply: a walk-in showroom in Columbus, Ohio, which also provides service and repair.
Its “Master Distributor” business sells to other distributors, schools, correctional institutions and supply stores, while its distributor businesses sell to barbers, salons and consumers. In 2022, all of this together brought in about $10.5 million in revenue and about $2.6 million in gross profit, per the 2023 audited statements. The company reported 22 employees at the end of 2024.
The Chapter 11 filing
There is one more fact any reader of Stephan’s numbers needs. On November 26, 2025, The Stephan Co. filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Middle District of Florida. According to the company’s announcement, the filing was meant to deal with talc-related personal injury lawsuits tied to products made by a former subsidiary, Old 97 Co., with more than 500 active cases pending at the time. Stephan says it contends those talc products were safe.
The company says its operating subsidiaries are not defendants in the talc litigation, did not file for Chapter 11 and continue to run as usual. In a March 25, 2026 update, it said it had filed a proposed plan of reorganization on March 16, 2026 that would channel talc claims to a trust, and that there is no guarantee the court will confirm the plan. So the supply business keeps operating, but the parent company is in a court process whose outcome was not settled when we last checked its filings.
Best-selling products and brands: Andis, Wahl, Oster and more
When it comes to barber supplies, some of the biggest names include Andis, Wahl, Oster, BaBylissPRO, Suavecito and American Crew. These brands are staples in barbershops, known for their reliability, performance and value.
- Andis: one of the most trusted names in barber tools, known for clippers, trimmers and grooming accessories. Models like the Andis Master Clipper (01815) are a favorite among professionals.
- Wahl: another industry giant with a wide range of grooming tools. The Wahl 5 Star Senior Corded Clipper and the Wahl 5 Star Magic Clip Cordless are two of its best-known barber clippers.
- Oster: known for powerful motors and durable designs built for heavy use. The Oster Classic 76 is one of its most popular models.
- BaBylissPRO: makes barber clippers, trimmers and shavers, including its GoldFX line.
- Suavecito: known for its pomades, such as Suavecito Pomade Original Hold, a favorite with barbers and customers.
- American Crew: a well-known styling brand with shampoos, conditioners and styling products such as American Crew Fiber.
These brands are widely available on Amazon, which is how many independent barbers now restock. Stephan’s own 2025 report says its Amazon sales grew more than 10% that year, a sign of how much barber supply buying has moved online.
For example, a barber looking for a new clipper can compare the Andis Master or the Wahl Magic Clip directly, and styling products from Suavecito and American Crew are staples in many barbershops.
Check Andis Master Clipper Price
What this means for what you pay
A distributor’s thin margins are one reason the price of the same product can vary a lot by pack size. For a shop, the easiest saving is buying consumables in bulk. At Amazon prices in late October 2026:
- Disinfectant: the Barbicide Gallon Disinfectant Concentrate worked out to less than half the per-ounce cost of the Barbicide pint concentrate. Barbicide’s label calls for 2 ounces of concentrate per 32 ounces of water, so a gallon makes 64 fresh jars.
- Neck strips: the Sanek Neck Strips Master Case (2,880 strips) costs less per strip than the Sanek Neck Strips 12-pack (720 strips).
- Blade spray: the Andis Cool Care Plus 6-pack costs less per can than buying single cans, and Andis describes the spray as a 5-in-1 formula that disinfects, cools, lubricates, cleans and prevents rust.
Tools are different. A clipper is a once-every-few-years purchase, so buying the right model for your work matters more than small price differences between sellers.
Check Barbicide Gallon Concentrate Price
Operating costs for barber suppliers
Gross margin only tells half the story. Barber supply companies face several operating costs that eat into that 25–29%. In Stephan’s case, selling, general and administrative expenses were about 26% of sales in 2024 and about 31% in 2025, more than the entire gross margin that year. These costs typically include:
- Inventory and warehousing: keeping products in stock takes significant investment. Stephan consolidated its distribution centers into one leased headquarters and warehouse of about 26,000 square feet in Williamsport, Pennsylvania, and its 2025 letter says warehouse reorganization helped cut operating expenses.
- Logistics and shipping: distributing products across the country adds to overhead, and keeping shipping efficient is crucial to holding those expenses in check.
- Overhead: salaries, utilities and equipment maintenance further reduce profit. Stephan reported 22 employees at the end of 2024.
- Legal and legacy costs: for Stephan, talc litigation from a former subsidiary became large enough to lead to a Chapter 11 filing.
FAQ
How much do barber supply companies make? One public example: The Stephan Co. reported about $10.0 million in revenue and $2.8 million in gross profit in 2024, a gross margin of about 28%. After operating costs, its operating income was only about $12,000 that year, and its unaudited 2025 report shows an operating loss of about $433,000.
What is the typical markup on barber supplies? Stephan’s company-wide gross margin ran about 25% to 29% from 2022 to 2025. A 28% margin is about a 39% markup on cost. Margins vary by product, and the company describes its own LatherKing as a high-margin product.
Why are proprietary products more profitable for barber suppliers? Because the company owns the brand instead of reselling another maker’s product, it keeps more of the price. Stephan calls LatherKing “a key high margin product” and reported LatherKing sales up 66% in 2025.
What costs do barber supply distributors have? Inventory and warehousing, logistics and shipping, and overhead such as salaries, utilities and equipment maintenance. For Stephan, those costs were about 26% to 31% of sales, nearly all of the gross margin.
Which brands do barber suppliers sell the most? Andis, Wahl, Oster, BaBylissPRO, Suavecito and American Crew are staples, with clippers like the Andis Master, Wahl Senior and Magic Clip, and Oster Classic 76 among the popular models.
Is The Stephan Co. bankrupt? The parent company filed for Chapter 11 on November 26, 2025, to address talc-related lawsuits tied to a former subsidiary. The company says its operating subsidiaries did not file and continue to operate as usual.
How can a barbershop spend less on supplies? Buy consumables in bulk, such as Barbicide by the gallon and neck strips by the master case, and buy tools for fit rather than chasing small price differences.
Conclusion
Barber supply distribution is a steady but thin-margin business. Stephan’s filings show gross margins of about 25% to 29%, owned brands like LatherKing doing the heavy lifting on profit, and operating costs that swallow most of what is left. It is a useful reminder that the supplier between the maker and the barber is not getting rich on a Wahl Magic Clip.
For shops, the practical takeaway is simple: buy the tools that suit your work, and buy consumables like Barbicide, neck strips and Andis Cool Care Plus in bulk. Understanding how suppliers make money gives you a better sense of why products cost what they do.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views expressed here are based on publicly available data and may not reflect the complete financial situation of any company. The author may or may not hold stock in any of the companies mentioned. Always consult a professional financial advisor before making any investment decisions.
