The salon industry is one of the few industries that is recession- resistant. Regardless of the economic times, clients will need to get their hair cut and colored. Other industries are being disrupted overnight by technology and the rapid growth of online businesses. However, hair salon franchise services will never be disrupted by digital.
A 2016 study conducted for the Professional Salon Industry Hair Care Association by Professional Consultants & Resources, a leading salon industry market research firm found that: "Coloring remains the vital "anchor service" at salons across the U.S., bringing in clients for all other services like cuts, styles, perms, and straightening. Coloring services were up nearly 3.6% and straightening and perms grew by 2%."
Cutting and styling grew at 2.8%, as client visits to salons increased with higher incomes resulting from economic growth. The market for men's coloring has also experienced positive growth.
High performance, innovative new products, better larger salon suites and new management at top manufacturers are keys to salon success. Sales of hair color, shampoos, conditioners, hair sprays, hair styling products and specialty products all increased, and are contributors to financial performance. This data are positive indicators for the potential of Lemon Tree, as our business model offers salon services and retail products in a family-friendly setting. Our hair salon franchise opportunities offer the potential for growth and outstanding success as part of this unique industry!
"The state of our salon industry is now in a slow growth mode and is positively trending up," says Cyrus Bulsara, president of Professional Consultants & Resources. "With the economy trending upwards and issues impacting the salon industry abating, we should see good growth."
"It's more than just belonging to a successful franchise. It's about being a part of a successful family of entrepreneurs."
CHRISTINE KYRO
Franchise Owner - New York
Reasons to Love the Beauty Industry
1. Overall Industry Growth
According to the US Department of Labor there were more than 650,000 people that earned their cosmetology licenses in the United States in 2014. The Bureau of Labor Statistics also show an expected 10 percent growth rate for hairdressers in the next 10 years, a faster-than-average growth rate compared to other occupations.
2. New Products & Services
Hair care is expanding at an incredible rate with new technologies emerging every year. Everything from shampoos that make hair less likely to break, to cutting-edge styling techniques that improve the overall look of hair are some just examples of how advancements in hair care technology will keep the industry growing at a steady pace.
3. Baby Boomers Growth
Baby-boomers are the first generation of a new era of people fighting against their own aging. This has lead to a growing market for complex hair treatments like hair replacement therapy, as well as new advancements in hair coloring. As the Baby-boomer generation continues to be a growing demographic, the expectation is that it will only increase business in the hair care industry.
4. Incredible Demand
No matter how rocky the United States economy becomes, looking good is still something most people will put as a priority in life. As the country recovered from the 2008 recession, the New York Times in 2011 reported that even though that hard economic time, the hair industry still saw surges of growth. These reports only support the idea that owning a beauty salon franchise has the potential to be a wise investment.
Interested in our haircut franchise? Learn why the salon franchise business is for you!
