Making people look and feel good about their looks and appearance by providing beauty salon services and products is basics of operating a beauty salon business. Are you currently running a salon or planning to open one, it is very vital to know where the beauty industry is spearheading to over the next couple of years.
According to SBDCNet it is estimated that roughly 82,000 beauty salons and 4,000 barber shops turn over an estimated sum of $20 billion in the 2012 sales. It was later discovered that small salons contributed tremendously to theBeauty industry, the 50 biggest Beauty companies making15% only out of the overall revenue. The chunk of the estimated revenue came from the following segment of the industry,The luxury services, hair cuts salons, Hairdressing, Tattoo etc… So the very section of the industry you are planning to join depends on what you are willing to offer and if the market in your area is right for those kind of Beauty services and products. But note Humble App will get you closer to your customers
Your Target Market
SBDCNet gathered that people in the of35 to 64 years of age spend a total of 10 to 14% beyond the average on beauty products and services.It was also gathered that he households with children, are the very best target market, because they have the highest spending power of 34 to 38% far above the average. According to Franchise Help, the sales of hair and skin care products combined with salon services to men is considered a growing market. So if you are planning to sell haircare products combined with salon services, you should target the family with female children as they are estimated to spend up to 83% more than families with no children.
There are different factors which determine the growth ratio of beauty salon, which includes the characters of your target market and the growth of the population in your catchment. It is very vital that you keep up to date latest trends in beauty techniques, techniques like offering the latest coloring services or skin care products and treatments, discovering most of the latest trends in the beauty industry and taking advantage of them all. It is expected that revenue will experience a growth increase by 3.3 percent yearly through the year 2017, this is partly because of people having more extra income to spend on luxurious services, like facials, skin care treatment and products, massages and many more. Professional Beauty Association therefore gathered that the number of vacant positions available in the beauty industry is expected to increase by 16% from 2010 to 2020, so we would be having an abundance of beauty artist. But finding the very qualified professionals might be a heck of a challenge but never mind The Humble App is here to rescue the day, download it now to find out more about its amazing qualities.