The beauty salon business is thriving over the past few years making it ideal for people who want to venture into the beauty industry. The retail beauty industry is growing fast and becoming quite a competitive market.
However, while this can be the best year to start up a beauty salon business, there is still a possibility that you’ll face several competitors. That’s why you have to consider several other things aside from having beauty salon chairs.
The Beauty Salon Industry Today
Most salons are now offering marketers a unique opportunity to reach out to their target market in a highly positive and receptive manner. This is why salon advertising has become a crucial player in the salon industry today.
Most consumers often consider the salon as a ‘pre-event’ destination prior to important events such as weddings, dates, conferences and business meetings. The study also showed that consumers often visit salons as often as three or even five times in a month and spend more than two hours for each visit.
The frequency of salon visits and the time that most men and women spend in salon shows an increase as their customers take advantages of the continuously changing services offered and also purchased at the salons.
At least 48 percent of men whose ages are from 18 to 29 and 18 to 45 often go to hair salons at least ten times a year. Looking at the frequency of visits show that salons are the perfect venue for marketers involved in the fashion, beauty, and lifestyle industries.
Meanwhile, at least 69 percent of female respondents go to nail salons and hair salons, and 40 percent of women visit nail salons at least twice a month. 78 percent of the females spend at least 30 minutes to an hour for each visit.
The industry is continuing to increase in market value, with no signs of stopping. As such, if you plan to start a beauty business — or expand your existing one — there is no better time than now.