Industry Analysis & Industry Trends
Operators in the Hair and Nail Salons industry have begun to offer a variety of new products and services to combat the economic downturn. As a result, revenue is expected to grow over the five years to 2014. Nonetheless, revenue dipped briefly during the recession when consumer incomes began to fall and demand for nonessential manicures, hair treatments and facials decreased. In the five years to 2019 however, industry revenue will benefit from increasing per capita disposable income and declining unemployment, which will occur toward the end of the five-year period. Salons will also offer a wider array of eco-friendly products that appeal to emerging consumer preferences, boosting revenue... purchase to read more
Industry Report - Starting a New Business Chapter
The Hair and Nail Salons industry has low barriers to entry. The industry is in the mature stage of its economic life cycle; however, companies are still entering due to consumers' demand for higher-value spa treatments and new hair and nail products. Competition within the industry is high and increasing, since there are a significant number of operators with little market share.
Start-up costs vary depending on the scale of operations. New businesses need to secure a rental space and styling, dryer and shampoo chairs. Additionally, hair salons need to invest in salon mats, straighteners and curlers; they may also require specialized facial equipment such as facial steamers if they offer additional day spa services... purchase to read more