3 Reasons Why The Hair Care Industry Will Always Be Relevant
And Why It’s an Excellent Investment Opportunity
The hair care industry is booming and there’s no sign of it slowing down. There are very good reasons why this particular industry is generally insulated from the ups and downs of the economy. Simply put, people will always need a haircut regardless of how the stock market is performing. This makes the hair care industry an excellent investment opportunity for those interested in running a business that can weather economic change. Franchise salons are some of the best options for savvy entrepreneurs even if they have no experience whatsoever in the industry. Not only are they relatively easy to operate, the industry itself has lower risk than others due to its consistent demand. Here are three reasons why the hair care industry will always be relevant.
Hair doesn’t stop growing just because the economy takes a nosedive. That may sound silly, but people still need to take care of grooming whether they are sinking a lot of money into it or a little. While they may spend less on personal care, they typically never stop scheduling appointments for a trim on a regular schedule. The global hair care industry is expected to be worth more than $211 billion by 2025, and that number is fueled by the data that shows people are focused on looking and feeling their best regardless of economic fluctuations. In fact, there has been an 8% increase in average spend on hair care since 2012. Men and women alike are spending more money on products to take care of their hair. Franchise salons provide a unique opportunity that zeroes in on both types of consumer – those who want an affordable but quality service and those that are looking for additional services and products. Even those consumers who aren’t dropping a lot of money on hair care products and services need a haircut on a regular basis which is where a franchise like Supercuts comes into play. This type of business can satisfy a customer’s need, but also offer expertise and possibly upsell them on additional services and products without pressure.
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It’s estimated that the average woman spends nearly $700 a year on her hair including products and services. Even if that number drops slightly, say a missed color touchup or opting not to add extensions, there’s still a significant amount of any person’s income going towards looking their best through routine hair care. Personal care, including hair care, is an easy indulgence for anyone regardless of the current financial outlook. In fact, during an economic downturn, the beauty industry tends to see an increase in spending rather than a decrease. Those that have been buying high-end products don’t simply stop buying products all together – they either find more affordable alternatives that still make them feel great or continue to purchase higher-ticket items while cutting back on other things in the budget. People are willing to spend money on things that make them feel good and attractive even if the economy isn’t doing well, which means they’re more likely to drop a little extra cash at the salon.
Another reason the hair care industry is here to stay is because it’s full of talent. A study from 2012 cited that 1 in 516 people in the U.S. is a hairstylist. The abundance of varied talent in the hair care industry will continue to fuel its growth. Not all hair stylists are created equal and many offer specific services that make them unique. There is no shortage of places where a hairdresser can get a job. From traditional salons, to retirement communities, to franchise locations, those in the hair care industry have their pick when it comes to where they want to work and the clientele they want to see. Franchise salons, like Supercuts, offer the benefit of providing a place where stylists can find steady work and hone their craft without having to bear the burden of owning their own salon which makes them attractive to those in the industry. This also means that finding qualified and talented staff for your salon is easy!
Franchise salons continue to fuel the growth of the hair care industry. They’re recognizable, consistent, and affordable. However, not all are created equal when it comes to the franchising process. Supercuts offers a unique opportunity for those with or without any experience in hair care to start their own business in an industry that is essentially recession-proof. The salon business is one that people will always need and one that advances in technology can’t overtake for the foreseeable future. Supercuts offers an award-winning brand that people have come to trust, which means that when you open a location you already have recognition and support. Our system allows you to keep your job while you get your Supercuts location off the ground. It’s designed to get your location up and running as quickly as possible and to help you on the path toward taking full advantage of this high-demand, high-repeat cash business in an industry that continues to grow. When you partner with Supercuts, you’re making a sound investment in a brand and industry that has seen proven success. Even if you’ve never put your hand on a pair of shears, you can invest in the ever-expanding hair care industry and secure a solid revenue stream. Our systems for operations, marketing, and finances are already in place, which takes much of the legwork out of opening a new business. If you’ve always wanted to own your own business but don’t have a lot of experience, the hair care industry and a Supercuts franchise just might be the perfect fit.
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