Franchise Spotlight: Hair
Hair salons are well placed to thrive amidst intense competition.
The U.S hair services industry brings in a whopping $46 billion in industry revenue, coming from more than 80,000 establishments.
Whilst women account for a large majority of this, the rise in male self-care and grooming trends means that hair services for men are expanding. With this lucrative industry comes a host of franchise brands.
Beauty industry analysis
Hair salons have always been in high demand, no matter the economic climate. Despite many hairdressers having to close over the pandemic, lockdown proved for many that having a professional cut and color hair is far more preferable than attempting it ourselves! Part of an age-old tradition, 2020 has shown that hairdressing really is here to stay.
One of the many great benefits of a hair salon is the repeat business that comes with the sector. Customers expect a professional and friendly service at a competitive price. Providing the customer is happy, chances are they will be back regularly and will recommend you to family and friends. Building up a friendly rapport with customers is key to establishing and retaining a healthy client list. Hair services are therefore well placed to thrive amidst tough competition due to this customer loyalty.
Being part of a hair franchise means you will get access to quality stock, bought in bulk, at discount prices. Furthermore, a franchise will provide training, on-going support, wide scale marketing and a recognized brand name for you to capitalize on.
Hair franchises have the potential to be incredibly lucrative and can be a great way to break into the hair industry, but without those initial start-up pains.