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Learn about trends in the Beauty Salon, Hair Salon and hair care services business and where to find more info about how to open your own Beauty Salon. Get a free Beauty Salon business plan template on our Business Plans page. Trends, 2012 SIC Code: 7231, 7241 NAICS Code: 812111, 812112 This Beauty Salon industry summary is from First Research which also sells a full version of this hair care services industry report. Major companies include Regis, Ratner Companies, Premier Salons, and Sport Clips. The industry is highly fragmented: the 50 largest companies generate about 15 percent of revenue. Demand is partly driven by demographics and partly by population growth. The profitability of individual companies depends on technical expertise and marketing skills.
Big companies have few advantages over small ones, which is why the industry remains fragmented. Small companies can compete successfully through technical superiority or favorable location. Major products are hair cutting, hair coloring, nail care, skin care, and merchandise sales. A typical salon offers haircutting and styling, coloring, shampooing, and permanents. Some salons also offer nail care, facial treatments, makeup, bikini waxing, massage, tanning, and other types of spa treatments, but the lower volume of demand for such specialty services often makes them uneconomical. A typical salon occupies about 1,000 to 1,500 square feet and is located in a mall or strip center.
The following Beauty Salon market research report summary is from IBISWorld which also sells a full version of this report. Revenue growth is expected to improve over the next five years, rising at an average annual rate of 3. Improving market conditions will increase the number of industry operators at an average annual rate of 3. This growing number of industry operators will drive employment growth. The slowly improving job market will continue to contribute to higher enrollments at cosmetology schools. This continued trend, combined with the growth in new industry operators, is expected to drive beauty salon employment upwards at an average annual rate of 3. Hair Salon Customer Demographics The following facts are from Best Customers: Demographics of Consumer Demand, which provides detailed information on consumer demographics for many industries.
The largest households and older householders are the best customers of personal care services such as haircuts, massages, manicures, and facials. Householders aged 35 to 64 spend 10 to 14 percent more than average on this item. 34 to 38 percent more than average. The best customers of hair care products are the largest households and households with the most women. Married couples with children at home spend 48 percent more than average on this item, the figure peaking at 83 percent more than average among couples with adult children at home. Householders aged 35 to 54, many with children at home, spend 24 to 32 percent more than average on hair care products and control 52 percent of the market. Beauty Salon Associations Trade associations often are excellent sources of information on an industry.
Beauty Salon Employment Trends Here is a Beauty Salon labor market summary from the Bureau of Labor Statistics. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. Many barbers, hairdressers, and cosmetologists work part time. However, some self-employed workers have long hours. Those who are self-employed usually determine their own schedules.
Work Environment Barbers, hairdressers, and cosmetologists held about 712,200 jobs in 2010. Barbers, hairdressers, and cosmetologists work mostly in a barbershop or salon, although some work in a spa, hotel, or resort. Some lease booth space in other people’s salons. Some manage salons or open their own after several years of experience. Barbers, hairdressers, and cosmetologists usually work in pleasant surroundings with good lighting. Physical stamina is important, because they are on their feet for most of their shift.